Cuba real estate fund goes public

Source : Johannes Werner Wed Jul 11, 12:32 pm EST
Opening up a rare pure-play Cuban investment opportunitiy, one of Europe's largest fund managers agreed to list Ceiba Investments Ltd. on the London Stock Exchange

Ceiba's portfolio includes minority stakes in four hotels and Cuba's only top-grade office complex. The company is also a partner in a new hotel project near Trinidad

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Economy

In test run, ETECSA grants one day of free Internet via mobile phone

Triggering island-wide excitement, the state telecom staged a one-day test run of 3G Internet for prepaid mobile phone users Cuba tries to streamline foreign investment applications
Q&A: Why are banks blocking legitimate payments?
New private-business regulations shorten the leash even more
Reuters: Cuba sweetens land grant program for farmers
World Politics Review: Is Cuba's vision of market socialism sustainable?
AFP: Cuba to study whether to adjust sugar harvest calendar to climate change
Financial Times: Changing face of Cuba is worth watching for investors

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Companies

Vietnamese detergent plant approved for Mariel

Three years after first announcing its interest in the project, a joint venture with a subsidiary of Vietnam's Thai Binh Global Trading Corp. received approval from Cuban authorities Performance of Cuba’s biggest hotel operator declines in 1H 2018
Golf real estate developer to begin pre-sales
Cisco launches training program at Cuban IT college
Miami Herald: Ultra-luxury cruising is coming to Cuba
Reuters: Tesla's battery maker suspends cobalt supplies from Sherritt amid U.S. sanction concerns
AFP: Plane crash caused by human error: company
Canadian mining company completes initial estimate of block in central Cuba

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Politics

New president uses light touch to form his cabinet

Miguel Díaz-Canel continues to govern mostly with a cabinet he inherited from Raúl Castro Constitutional reform begins to address decentralization
In anti-corruption purge, dozens of officials are detained
Extraordinary legislative session: Bad economic news
Politico: U.S. limits diplomatic tours following mysterious illnesses
The Guardian: Neurologists challenge U.S. "sonic attack" medical report
Reuters: Cubans cheer as Internet goes nationwide for a day
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LIFESTYLES

Tony Zamora, 1941-2018

Tony Zamora, a shareholder of Cuba Media LLC which publishes Cuba Standard, passed away in June, after losing his battle with cancer LaHabana.com: The anniversary issue

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BLOG TICKER

Cuba Central: It was only a year ago…
Cuba Trade magazine: No easy fixes for Cuba's water accessibility woes
Generation Y: Absence means forgetting
Havana Times: The reform process, what's changed?
Progreso Weekly: To grow old in Cuba, preserve your wings
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Data & Maps

Cuba’s crude oil and natural gas output has practically been stagnating since 2003. In fact, production of oil fields in the old Havana province (now Mayabeque province), including those of Guanabo, Boca de Jaruco, Santa Cruz and Puerto Escondido, decreased by one-third (-32.1%) over the past 10 years, from a record 1.87 million tons of oil, or 32,350 b/d*. Meanwhile, yields in Matanzas province helped offset the decline in Havana/Mayabeque. Oil output at the Seboruco, Varadero-Cárdenas, Cantel and Majaguillar fields grew by one-third (34.4%) in the same period, to a record 1.54 million tons or 26,670 b/d in 2015.

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Hurricane Irma: Costlier than record storm Ike

Assessing the damage two weeks after the storm, official daily Granma said “it wouldn’t be surprising if the cost exceeds that of Ike in 2008, the most destructive hurricane in this century, which was estimated at 7.325 billion pesos”. Today, this figure would be equivalent to 9% of Cuba’s Gross Domestic Product in 2014, or one-fifth of all tax income collected by the government in 2016.

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Cuba's water crisis: It's not all due to climate change

Cuba has one of the largest water reservoir systems in the Hemisphere, per capita and territory. Conceived for a planned economy that no longer exists, Cuba’s current water reservoirs largely exceed the needs of the country. Ironically, there is a chronic water deficit for consumers and in almost every economic sector.

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