Larry Nussbaum plans to launch a gift card that will compete with Stonegate’s™ Cuba Mastercard: American plus all Cuba bound travelers, without restrictions. In an agreement finalized with the Cuban government, Nussbaum, of the Miami-based company International Port Corp. (IPC) has introduced the reloadable Club Malecon gift card in time for the holidays. Cuba Journal … Read more
Canadian-based Cuban specialist investment company LGC Capital (LGC) has been active in an astonishing variety of investments in Cuba. Business Description LGC’s objective is to acquire stakes in one or more listed or unlisted projects, businesses, joint ventures, production agreements or companies (in whole or in part), creating a platform for possible further acquisitions in … Read more
Prompted by the new relationship between the U.S. and Cuba, American businesses have been investigating Cuba’s potential for much needed investment, but news of actual transactions has been scarce. The main takeaway since the détente with the U.S. is that Cuba prefers non-U.S. foreign investors. East Asia appears to be emerging as the main driver … Read more
Today, the U.S. and Cuba will hold the first Legal Cooperation Technical Exchange in Havana, Cuba. The U.S. delegation will include working-level representatives from the Department of Justice, the Department of State, the Federal Bureau of Investigation, and the Department of Homeland Security. RELATED: The Long History of U.S. and Cuba Anti-Drug Cooperation Improving legal … Read more
In a quiet residential Havana neighborhood, silversmith Roxana Vargas’s ROX jewelry company is both a deeply personal journey of self-discovery and a symbol of progress for Cuba’s emerging cuentapropistas (entrepreneurs) class. The Cuba Journal visited Roxana’s workshop to learn more about her jewelry making and her personal story. Inspired by her father’s belief in her … Read more
AT&T has reached agreements for Cuba roaming and direct interconnection with Empresa De Telecomunicaciones De Cuba (ETECSA). The deal continues to enhance AT&T’s global coverage for customers. “Cuba is a growing international calling destination for our customers,” said Bill Hague, executive vice president, AT&T Global Connection Management. “With this agreement, AT&T customers soon will be … Read more
Cuba announced in May the next step in its economic transition by allowing legal status for private businesses. Previously, the communist government permitted individuals to operate as self-employed workers under several hundred clearly-defined roles such as taxi driver. The latest announcement will likely take months to become law. “Private property in certain means of production … Read more
According to a report in Reuters, retail and fashion giant Mango will open its first megastore in Cuba before the end of the year. The new Cuban store will be in Manzana de Gomez, a shopping center located in Havana’s historical district. Mango currently operates a smaller franchise in the city, which opened 20 years … Read more
The Cuban government announced yesterday that France will be involved in Cuba’s largest airport renovation. The news comes a week after the announcement of the opening of a French Development Agency in Cuba for projects stemming from funds connected to Cuba’s debt settlement negotiations. France is Cuba’s largest single creditor. Cuba’s bilateral creditors are different … Read more
In December 2015, the Cuba Group of the Paris Club creditors, which includes 14 of the 19 sovereign, industrialized nations that have existing defaulted debt with Cuba, concluded terms of a restructuring. France is the largest single creditor. The US is not part of the Cuba Group of the Paris Club creditors included in this … Read more
