Articles Tagged with business

tourism-300x169The Cuban tourism industry has gone through some ups and downs throughout the years. During the latter years of the Obama presidency, U.S. travelers enjoyed a great amount of leniency regarding visits to Cuba; in 2017, President Trump rolled back that leniency.

The Trump rollbacks were intended to starve the island nation’s state-run economy of U.S. tourism dollars, increasing pressure for regime change. However, the rollbacks don’t seem to be having their intended effects, as Cuba’s tourism industry continues to thrive.

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castro-300x199Despite his impending exit from the office of President of Cuba, Raul Castro is still making potentially major political moves.

Castro met with the chief executive of state-owned Russian petroleum leader Rosneft, Igor Sechin, this past Sunday. State-controlled media released a photo of Castro, Sechin, and Economy Minister Ricardo Cabrisas with a simple caption that read, “a working meeting.”

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NestleCuba_Embedded-300x208Depending on who you ask about Cuba’s economy, you’ll get a different answer. It can be hard to look at the current tensions between the US and Cuban governments and be optimistic.

But rocky relations between the US and Cuba aren’t necessarily new, and some people are foraging ahead despite mixed signals. Between new developments in Cuba’s economic zone and a US airline pulling flights from Cuba, the message from the markets is far from clear.

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CAT-300x200Even with US-Cuba relations up in the air, business continues as usual. Despite the negative writing on the wall from a foreign policy standpoint, companies are continuing with their plans to do business with Cuba.

Cuba gave RIMCO, Caterpillar’s Puerto Rico-based dealer, permission to set up a Caterpillar warehouse and distribution center in Cuba’s Mariel Special Economic Development Zone, envisioned by the Cuban government as the island’s economic future. After a long process of campaigning and negotiations, Caterpillar Inc. is the first US company to locate in the Cuban economic zone.

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630x355-300x169The first time the term “Cuban exile” came into the modern lexicon was after the Cuban Revolution of 1959 led by Fidel Castro. Many exiles thought that the new government would not last and left behind their valuables, which ended up being confiscated by the Cuban government.

Since then, a steady stream of Cuban exiles has left the island nation; today, there are over 800,000 living abroad, with the majority of those who went to the United States living in Florida. Now, the Cuban government is extending an open hand to Cuban exiles, allowing some to return for the first time in their lives.

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960x0-300x200Despite the current foreign policy difficulties between the United States and Cuba, some people are foraging ahead with their business ties with the island. Although many announcements have been made about the reversal of Cuba-friendly Obama-era policies, not much has actually been changed on a policy level; the most significant recent move was the mutual removal of diplomats.

Susan Leger Ferraro is a social serial entrepreneur who has been looking to affect social change since first started Little Sprouts, an early education center in at-risk communities, when she was just 17 years old. In 2015, Ferraro first visited Cuba and has since set out to support the development and expansion of infrastructure in order to meet the needs of its growing tourism industry. Now, she’s sharing some of her wisdom from her experience in Cuba, and on a more ecumenical scale.

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cleveland-cuba-puertos-1-300x195Cleveland, Ohio became the latest city to sign a port agreement with Cuba this week, making it the first agreement since the US State Department’s decision to remove American diplomats from Cuba and request the removal of Cuban diplomats from Washington.

The so-called “Memorandum of Understanding” was signed by the Darrell McNail, president of the Board of Administration of the port of Cleveland and Captain José Joaquín Prado, general director of Cuba’s Maritime Administration in Havana last Friday.

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https://www.attorneycuba.com/files/2017/09/2014-07-23t190016z_1_lynxmpea6m0v0_rtroptp_4_cuba-china-e1423094378998.jpg_1718483346-300x170.jpgCuba has enjoyed a significant trade relationship with China since the 1990s, though their relationship is a historical one as well. When Cuba declared its independence from the United States in 1902, China’s Qing dynasty quickly recognized Cuba as a sovereign state after its secession in the wake of the Spanish-American war.

Although Cuba and China were not aligned during the Cold War due to Cuba’s alliance with Russia, relations improved after the collapse of the Soviet Union, to the point where in 2014, bilateral trade between the two nations equaled about $1.6 billion. Chinese goods in the transportation and energy have contributed to the revitalization of those industries in Cuba. Now, after Irma, China has doubled down in its support of the island nation.

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cuba-fitness-300x201If you live in or near a decent-sized city, you’ve probably noticed that fitness is a fad that doesn’t seem to be going away. From CrossFit gyms to bike lanes to pricey fitness apparel stores, it’s clear that people demand that fitness be more available to them.

Cuba is also jumping on the fitness bandwagon. In a time where it looks like Cuba might finally ease up on private enterprise, more and more entrepreneurs are looking to enter a market that will always be making gains.

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Cuba-Restaurant-300x200Cuban authorities are reportedly raiding several private restaurants on the island in what appears to be a government crackdown on entrepreneurs transgressing the Castro regime’s definition of free enterprise.

El Litoral, a high-end paladar known for its food and clientele, was the first to get raided by authorities. Officials from the Technical Department of Investigations reportedly carted off tables, chairs, plates, sound systems, and bottles of imported liquor.

Neighboring businesses told news sources that the owner of El Litoral got in trouble because of money laundering allegations. The liquor the restaurant served didn’t come from official government sources and some of its employees were allegedly being paid off the books. Servers also reportedly told clients that they accept dollars if they don’t have CUCs (Cuban convertible pesos). U.S. dollars are not legal tender on the island.

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