Cuba announced yesterday the next step in its economic transition by allowing private businesses to have legal status. 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
Discovered by Christopher Columbus in the 15th century, Cuba and the Dominican Republic (DR) share a history unlike any other in the world – and the similarities extend into common economic characteristics that today make them the topic of much discussion about how the future will unfold as Cuba’s re-integration into the global economy gathers … Read more
By Simons Chase Argentina defaulted on more than $80 billion of debt in 2001, the largest sovereign default at the time. For three months in 2012, the three-masted Libertad, an Argentine naval ship and the flagship of her fleet, was detained in Ghana following legal action by US-based hedge fund, Elliot Capital Management, as it … Read more
On Saturday, a Pakistani ship set sail carrying around 15,000 tons rice to Cuba. Pakistan’s Prime Minister, Muhammad Nawaz Sharif, said that Pakistan would extend all possible assistance to help Cuba by reciprocating in the same spirit as Cuba had done by sending teams of doctors following the aftermath of the country’s magnitude 7.6 earthquake … Read more
