Business News Cuba

  • The decision makes the IADB, Latin America's largest regional lender, the first financial institution to recognize Guaido and would eventually free up development lending to Venezuela if Maduro steps down. Guaido, who has been recognized as the OPEC country's legitimate leader by most Western countries, including the United States and many in Latin America,...

  • HAVANA, March 14- Cuba has jettisoned rhetorical restraint toward the United States and is broadcasting footage of military defense exercises in the face of threats and new sanctions from the administration of President Donald Trump. Not anymore, as the United States is increasingly blaming Cuba's Communist government for the political crisis in its...

  • *U.S. sanction Russia- Venezuela banking JV, Evrofinance. Secretary of State Mike Pompeo on Monday blamed Russia and Cuba for causing Venezuela's political crisis by supporting President Nicolas Maduro and said he had urged India not to help Maduro's government by buying Venezuelan oil. "This story is not complete without acknowledging the central role Cuba...

  • CARACAS/ SAN CRISTOBAL, Venezuela, March 11- V enezuela's opposition-run congress on Monday declared a "state of alarm" over a five-day power blackout that has crippled the OPEC member country's oil exports and left millions of citizens scrambling to find food and water. Much of Venezuela remained without power on Monday, although electricity had largely...

  • U.S. Secretary of State Mike Pompeo holds a news conference to talk about the dire economic and political situation in Venezuela at the State Department headquarters March 11, 2019 in Washington, DC.

    Secretary of State Mike Pompeo on Monday blamed Russia and Cuba for causing Venezuela's political crisis by supporting President Nicolas Maduro.

  • Secretary of State Mike Pompeo on Monday blamed Russia and Cuba for causing Venezuela's political crisis by supporting President Nicolas Maduro and said he had urged India not to help Maduro's government by buying Venezuelan oil. "This story is not complete without acknowledging the central role Cuba and Russia have played and continue to play in...

  • President Donald Trump's special representative for Venezuela pledged on Thursday that Washington would "expand the net" of sanctions on the South American nation, including more on banks supporting President Nicolas Maduro's government. The United States and more than 50 other countries have recognized opposition leader Juan Guaido as oil-rich...

  • President Donald Trump's special representative for Venezuela pledged on Thursday that Washington would "expand the net" of sanctions on the South American nation, including more on banks supporting President Nicolas Maduro's government. More than three million people are believed to have fled Venezuela in recent years amid a deep economic crisis marked...

  • President Donald Trump's special representative for Venezuela pledged on Thursday that Washington would "expand the net" of sanctions on the South American nation, including more on banks supporting President Nicolas Maduro's government. "There will be more sanctions on financial institutions that are carrying out the orders of the Maduro regime," Elliott...

  • The move marked an intensification of U.S. pressure on Cuba and also appeared aimed at punishing Havana over its support for Venezuelas socialist president, Nicolas Maduro. But it stopped short of the more severe step of targeting foreign investments in Cuba- though it left the door open to doing so in the future. But Washington will keep in place until at least...

  • The move marked an intensification of U.S. pressure on Cuba and also appeared aimed at punishing Havana over its support for Venezuelas socialist president, Nicolas Maduro. But it stopped short of the more severe step of targeting foreign investments in Cuba- though it left the door open to doing so in the future. But Washington will keep in place until at least...

  • WASHINGTON, March 4- Foreign companies will be excluded for now from a Trump administration decision to allow lawsuits by U.S. citizens against Cuban companies and sub-entities, a senior U.S. official said on Monday.

  • Cuban Americans in Miami's Little Havana celebrate the death of longtime Cuban leader Fidel Castro on November 26, 2016.

    The Trump administration is preparing to allow lawsuits in U.S. courts for the first time against some foreign companies doing business in Communist-ruled Cuba using properties confiscated from Cuban-Americans and other U.S. citizens, according to people familiar with the matter.

  • *UBS hit with 4.5 billion euros of penalties. PARIS, Feb 20- A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros in penalties. "The court can only conclude that consistently put its own financial interests over the sovereign rights of the French state," the...

  • PARIS, Feb 20- A French court will rule on Wednesday whether UBS, Switzerland's largest bank, helped wealthy French clients evade taxes between 2004 and 2012 and launder the proceeds. The French trial follows a similar case in the United States, where UBS accepted a $780 million settlement in 2009 and in Germany, where it agreed to a 300 million euro fine in 2014.

  • HAVANA, Feb 7- Some foreign businesses in Cuba are scrambling to defend their interests while others are rethinking the risk as the Trump administration bears down on Venezuela and Cuba, according to a dozen experts, diplomats and businessmen. To make matters worse, the fall of Cuban ally President Nicolas Maduro's socialist government in Venezuela would be a...

  • Jan 29- The United States imposed sanctions on Venezuela's oil exports on Monday, a major escalation in its support for opposition leader Juan Guaido's bid to oust socialist President Nicolas Maduro. Defense Minister Vladimir Padrino reaffirmed support for Maduro in a tweet on Jan. 23, saying Venezuela's armed forces disavowed any self-proclaimed...

  • HAVANA, Jan 25- Russia will help Cuba repair state-run airline Cubana's mostly grounded fleet, likely by year's end, Russian Deputy Prime Minister Yuri Borisov was quoted as saying by Cuban news agency Prensa Latina on Friday. Plans for Russia to upgrade Cuba's rail network are also advancing, Borisov was cited as saying. In 2017, state-owned monopoly Russian...

  • MOSCOW, Jan 25- Private military contractors who do secret missions for Russia flew into Venezuela in the past few days to beef up security for President Nicolas Maduro in the face of U.S.-backed opposition protests, according to two people close to them. A third source close to the Russian contractors also told Reuters there was a contingent of them in...

  • Jan 24- Venezuela's opposition has raised the stakes against President Nicolas Maduro after congress head Juan Guaido swore himself in as interim head of state with the support of the United States and some major Latin American nations. Defense Minister Vladimir Padrino reaffirmed his support in a Tweet on Wednesday, saying Venezuela's armed forces...