![Phase III clinical trials of Cuba’s Abdala vaccine came to a close on May 1. Tests show very positive results for safety and efficacy, said senior researcher, Dr. Sonia Resik, head of Virology at the Pedro Kourí Tropical Medicine Institute (IPK). Dr. Resik told television audiences that the Abdala vaccine (CIGB-66), developed by the Center for Genetic Engineering and Biotechnology (CIGB) had been administered in the eastern provinces to different age groups. Efficacy levels are still under study and the […]](https://www.cubabusinessreport.com/wp-content/uploads/2021/05/abdala-vaccine.jpg)
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![The Central Bank of Cuba (BCC) announced a new set of measures for credits and financing to farmers, to begin immediately. The measures come into force because of the problems that emerged and the government’s need to resolve the matter. Francisco Mayobre Lence, first vice-president of the BCC, said that the implementing of the Ordering Task, increased expenses and, subsequently, a demand for higher financing had necessitated the changes. The issues that arose led to insufficient backing guarantees and generated […]](https://www.cubabusinessreport.com/wp-content/uploads/2021/05/central-bank-of-cuba-issues-new-measures-for-farm-loans.jpg)
![“Cuba could be the next great cruise vacation destination,” the British newspaper The Telegraph reported a few days ago, stating Cuba cruise vacations are still blocked by U.S. government sanctions. Cruise fans are not impressed. The Telegraph article also mentioned that five years ago, former president Barack Obama opened up the possibility for travel for Americans citizens to Cuba. Cruise line companies such as Royal Caribbean International, Norwegian Cruise Line, and Carnival Cruise Line added Cuba to their itineraries to […]](https://www.cubabusinessreport.com/wp-content/uploads/2021/04/cruises-to-cuba-21.jpg)
![Over 1,900 contracts have been signed by non-state sector and state-owned import/export companies since the regulations supporting these activities came into force last summer. In August 2020, these regulations were approved to expand foreign trade opportunities to the private sector with the ambition of increasing products and services for export. “We already accumulate 1,987 contracts signed between Comex companies and FGNE (non-state management forms); 98 are for exports, growing by eight this week, and those for the export of services […]](https://www.cubabusinessreport.com/wp-content/uploads/2021/04/imports-exports.jpg)
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Russia Donates Food Aid to Cuba
Cuba has received a donation of food aid from the Russian Federation through the United Nations World Food Program (WFP), the food-assistance branch of the United Nations. The shipment of food aid arrived on Thursday in Havan... More »
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Cuba Defines Economic Priorities to 2026
At the conclusion of the 8th Congress of the Cuban Communist Party (PPC) (April 16 – 19), Cuba’s government defined the economic priorities for the next five years. The Update of the Economic and Social Policy Guidelines for ... More »
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Cuba and the UAE Chambers of Commerce Sign MoU to Strengthen Economic Ties
HAVANA, April 26. The Federation of Chambers of Commerce and Industry of the United Arab Emirates and the Chamber of Commerce of the Republic of Cuba, have signed today, virtually, a Memorandum of Understanding (MoU), to stre... More »
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Cuba to Begin Vaccination of 1.7 Million Havana Residents in May
Cuba will begin the vaccination of 1.7 million residents of Havana this May according to official sources. It is part of a study in which two of the five vaccines in the most advanced phase of trials, the Abdala and Soberana ... More »
Trade Relations
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Cuba and Russia Commit to Further Advancing Strategic Partnership
Cuba and Russia commit to further advancing their strategic economic partnership, the Russian foreign ministry said in a message retweeted by its embassy in Havana. President Putin telephoned Diaz-Canel the day after he was elected as first secretary of the Co... More »
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PCC 8th Congress – the Economy is on the Agenda
- Cuba Business Report Staff
The Cuban Communist party (PCC) meets for its 8th congress, which starts today and runs until April 19. The economy and future is upfront on the agenda. The PCC Congress will include evaluating core issues for the present and future of Cuba, updating the imple... More »
Habanos World Days Cigar Festival 2021
- Cuba Business Report Staff
Each year, thousands of cigar lovers from around the world make the trek to Havana to take part in the Habanos Cigar Festival. After the cancellation of the 23rd Festival because of the pandemic situation, it was announced the Habanos World Days festival will ... More »
Cuban PM Urges Changes in Foreign Investment and Trade
- David Urra
A review of the status of foreign investment took place in Havana. The meeting was led by Minister Rodrigo Malmierca with the participation of other officials from the Ministry of Foreign Trade and Foreign Investment (MINCEX), Deputy Prime Minister Ricardo Cab... More »
BioCubaFarma to Market Pharmaceuticals to Russia
- David Urra
The BioCubaFarma business group is in the process of penetrating the Russian market with its innovative pharmaceutical products. The year 2021 will be a year of signing contracts, according to Dr. Idania Caballero, director of BioCubaFarma’s office in Russia. ... More »