S&P 500
1968.48
-1.47 -0.07%
Dow Indu
16861.70
-50.41 -0.30%
Nasdaq
4456.78
+14.08 +0.32%
Crude Oil
101.02
+0.05 +0.05%
Gold
1295.425
-3.780 -0.29%
Euro
1.33791
-0.00349 -0.26%
US Dollar
81.534
+0.324 +0.42%
Weak

Market Commentary and Intraday News

Cuba moves toward wholesale for small businesses

508 days ago

INO's Daily Market Analysis And Commentary - FREE
This free resource will deliver our popular morning and evening analysis reports directly to your inbox. This analysis is a great tool for traders of all types and includes analysis of stock, futures, commodities, ETFs, foreign exchange, indexes, bonds and interest rates.
Click this link for to register.

(AP:HAVANA) Cuba is reorganizing a state-run wholesale supplier and directing it to also work with private entrepreneurs and independent cooperatives.

The recent government resolution is a step toward providing better access to wholesale supplies, one of the biggest needs expressed by Cuba's more than 400,000 private-sector workers.

Analysts have called the lack of access a major impediment to the island's budding entrepreneurial class.

Small businesses have had to purchase supplies at retail or rely on "mules," who fly goods in from other countries in overstuffed suitcases.

The resolution says the wholesale entity will offer everything from foodstuffs to computers. It apparently will begin operating sometime in the second quarter of this year.

Cuba is in the process of remaking its socialist economic model with a dollop of private-sector activity.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.