Despite restructuring some of these loans within the past 5 years, the time for Cuba to repay their debt is nigh, as a creditors group has begun to start the legal process to recover the debt. Continue reading
Today, the results-driven Cuban health science industry has grown to such an extent within Cuba that it is looking to expand to the rest of the world, including to the United States. And even further, some people are heading to Cuba for treatment of chronic diseases.
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.
The visit marks a continuation of friendly relations between the two nations that have lasted since 1960, despite Havana’s staunch opposition to pursuing nuclear weapons. Some diplomats maintain that the relationship with Cuba might be of use in deescalating the current conflict, while others fear that talks are not so innocent.
Last Wednesday, the Trump administration announced new restrictions on American travel and trade with Cuba, finally implementing the changes promised months ago when President Trump said that he would reverse Obama-era policies that were meant to improve the relationship between the US and Cuba.
The announcement by the White House comes after diplomatic relations between the two nations have hit a low point in the wake of the United States’ decision to withdraw a majority of its diplomats from Cuba and expel Cuban diplomats from the US in turn.
Even 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.
Fifty-five years after the United States and Russia went to the brink of war over the Cuban Missile Crisis, another critical event in the relationship between the United States and Cuba has been reached as President Trump openly blamed Cuba on Monday for the attacks on US diplomats over the past year.
The announcement by President Trump comes after a fruitless investigation into the attacks by multiple investigative agencies, including the FBI.
Cleveland, 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.
Horace Clemmons and Cuban-born business partner Saul Berenthal, owners of tractor manufacturing company CleBer LLC, have been eyeing a deal in Cuba since U.S. relations with Cuba finally eased back in 2014. Eased relations, paired with the Cuban government returning unused state-owned land to the people in hopes of stimulating growth in the agricultural industry back in 2008, have revealed to the two entrepreneurs an opportunity they are still pushing for after 3 years.
Manufacturing has been a shrinking industry in the United States since the end of World War II, when the country’s galvanized work force undertook one of the greatest military industrial efforts in history. Although manufacturing still accounts for a solid twelve percent of the United States’ GDP, today’s manufacturing industry is a far cry from the World War II days, due much in part to cheaper labor sources in countries like China and Mexico. But the industry is far from dead, and one company is looking to go where none have gone before – Cuba.
In a surprise visit to Cuba, Venezuelan President Nicolas Maduro paid homage to the late Fidel Castro just after the 91st anniversary of his birth on August 13, 1926.
Maduro met with Cuban President Raul Castro for a visit to the cemetery in Santiago de Cuba and the mausoleums of both Fidel and national hero Jose Marti. The visit marks a continuation of strong relations between the two socialist countries, who remain regional ideological allies.