Business News Cuba

  • HAVANA, Nov 11- Cuba is in party mode this week, despite tough economic times worsened by tighter U.S. sanctions, as it prepares for its first state visit by a Spanish king, to celebrate the 500th anniversary of the founding of Havana, the capital. Spain's King Felipe and Queen Letizia arrive late on Monday for a three-day stay to commemorate the Cuban capital, founded...

  • Given the increase in the imperialist blockade and the measures to suffocate our people, the answer is in us, to get even closer together and to exploit our potential to get ahead, state-run media on Monday quoted Jose Machado Ventura, second secretary of the Communist Party, as stating as he toured mills in the provinces. Cuba has had problems securing financing...

  • HAVANA, Nov 6- Cuba said on Wednesday the country had attracted $1.7 billion worth of foreign investment over the past year despite a tighter U.S. trade embargo and worsening cash crunch, although it did not reach its goal of $2 billion to $2.5 billion annually. Trade Minister Rodrigo Malmierca told a news conference at Cubas annual trade fair in Havana that 25...

  • HAVANA, Nov 5- Cash-strapped Cuba has begun paying a fourth installment on its renegotiated $2.6 billion debt to 14 creditor nations, and its chief debt negotiator, Ricardo Cabrisas, told Reuters this week that all payments would be made, even if a bit late. Communist-run Cuba reached an agreement in 2015 with members of the Paris Club of wealthy creditor nations...

  • General view of Jose Marti International airport in Havana, on April 30, 2019.

    Last week, the Trump administration announced that flights to all airports except Havana will come to an end Dec. 9. "This is going to be torture," said a Cuban who lives more than 500 miles from the capital and worries about his U.S. relatives' ability to visit.

  • BRASILIA, Oct 28- The election of leftist Alberto Fernandez in Argentina, who Brazil's right-wing President Jair Bolsonaro has called a "red bandit," sets the stage for a run-in between South America's two biggest economies that could derail their Mercosur trade bloc. Brazil- Argentina relations have been cordial and constructive since both shed military rule...

  • HAVANA, Oct 28- Cubans flocked to a dozen shops that opened in Havana on Monday selling home appliances and spare parts for cars in dollars, as the cash-strapped government struggles to rake in tradable currency to purchase imports and pay its debts. "The prices are lower than in convertible pesos for the same products and better than those Cubans bring back from...

  • BRASILIA, Oct 28- The election of leftist Alberto Fernandez in Argentina, who Brazil's right-wing President Jair Bolsonaro has called a "red bandit," sets the stage for a run-in between South America's two biggest economies that could derail their Mercosur trade bloc. Brazil- Argentina relations have been cordial and constructive since both shed military rule...

  • BRASILIA, Oct 28- The election of Peronist Alberto Fernandez in Argentina, whom Brazil's right-wing President Jair Bolsonaro has called a "red bandit," sets the stage for a run-in between South America's two biggest economies that could derail their Mercosur trade bloc. Brazil- Argentina relations have been cordial and constructive since both shed military...

  • WASHINGTON/ HAVANA, Oct 25- The U.S. government said on Friday it would bar U.S. airlines from flying to all destinations in Cuba besides Havana starting on Dec. 10 as the Trump administration boosts pressure on the Cuban government. The U.S. Transportation Department said in a notice it was taking the action at the request of Secretary of State Mike Pompeo to "...

  • WASHINGTON, Oct 25- The U.S. government said on Friday it would bar U.S. airlines from flying to all destinations in Cuba besides Havana starting on Dec. 10 as the Trump administration boosts pressure on the Cuban government. The move will bar U.S. air carrier flights to any of the nine international airports in Cuba other than Havana and impact about 8 flights a day.

  • *Vietnamese rates rise to $350- $355/ tonne from $350. BENGALURU, Oct 25- Vietnamese rice export prices rose to a four-and-a-half-month high this week on healthy demand from Africa and Cuba as supply remained scant, while a stronger rupee helped rates for Indian variety recover from a four-month low. "Supplies are running low while demand remains steady,...

  • WASHINGTON, Oct 18- The United States is imposing new sanctions on Cuba over its human rights record and its support for Venezuela's government, the U.S. Commerce Department said on Friday. In a separate statement, the U.S. State Department criticized Cuba for its detention of dissident Jose Daniel Ferrer, calling on Havana to disclose his whereabouts, treat him...

  • Unipec, the trading arm of China's Sinopec, Swiss trader Trafigura AG, oil firm Equinor ASA, Exxon Mobil Corp and others are shunning contracts or vessels that might put them in jeopardy of violating U.S. sanctions on Venezuela, according to sources and documents. The United States in early August ratcheted up sanctions on Venezuela, adding measures that could...

  • HAVANA, Oct 9- Tougher U.S. sanctions against Cuba have led international banks to avoid transactions involving the island, while prospective overseas investors put plans on hold and foreign firms operating in the country consider restructuring to lower their risk exposure. On top of the decades-old embargo, the Trump administration has sanctioned nearly...

  • HAVANA/ MEXICO CITY, Oct 4- A flotilla of shipments from Venezuela gave Cuba some respite this week from crippling fuel shortages in the wake of tougher U.S. sanctions, while Russia's prime minister pledged during a visit to the island on Friday to help develop its energy sector. In response to the shortages, Cuba swiftly deepened austerity measures it had...

  • LONDON/ HOUSTON, Oct 4- Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, putting new pressure on the U.S. sanctioned country and on global crude freight rates. Washington has imposed several rounds of sanctions on Venezuela this year to oust socialist...

  • HAVANA/ MOSCOW, Oct 3- Russian Prime Minister Dmitry Medvedev lambasted the Trump administration on Thursday for trying to create a "toxic atmosphere" around Cuba, during a two-day trip to the island demonstrating Russia's support for its Communist government. While Russia's support for Cuba is insignificant compared to the role the Soviet Union once played,...

  • Moscow has sought to renew its commercial, military and political ties with Cuba in recent years, as part of a broader strategy to expand its presence in Latin America as a counterweight to China and the United States. Russia's support for Cuba is insignificant compared to the role the Soviet Union once played, but analysts said it is still very welcome as the...

  • Sept 26- Quad/Graphics Inc, a Wisconsin marketing and printing services company, will pay $9.9 million to settle U.S. Securities and Exchange Commission charges it conducted bribery schemes in Peru and China and violated U.S. sanctions by dealing with a Cuban state-owned telecommunications company. The SEC said on Thursday that Quad/Graphics will pay a $2...