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  • Today, 5:13 AM
    • As U.S. airlines began flights this week to Havana, the long-awaited travel surge to Cuba is already in doubt.
    • Citing weak demand, American Airlines (NASDAQ:AAL) has announced it will cut nearly 25% of its flights to the island in 2017.
    • "This was done purely to remain competitive in the market," spokesman Matt Miller said. "We can't speculate on what the next administration may do."
    • Related CEF: CUBA
    | Today, 5:13 AM | 20 Comments
  • Wed, Nov. 30, 2:50 AM
    • With Fidel Castro dead and his brother Raul vowing to step down as president in 15 months, it will soon be the hour of heir apparent Miguel Diaz-Canel, an advocate for modernizing Cuba's state-run media and abysmal internet access.
    • Diaz-Canel has already established press and web freedom as signature concerns, and was elevated to the position of first vice-president in 2013, putting him next in line for the presidency.
    • Related CEF: CUBA
    | Wed, Nov. 30, 2:50 AM | 2 Comments
  • Mon, Nov. 28, 8:44 AM
    • The Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) is higher by 16.3% in premarket action after the dictator's passing over the weekend. Premarket volume of about 167K shares is already six times the normal full-day average.
    • For now, the fund invests in companies likely to benefit from a more open Cuban economy.
    • Among the holdings: Mastec (NYSE:MTZ), Royal Caribbean (NYSE:RCL), Carnival Corp. (NYSE:CCL), Nextera Energy (NYSE:NEE), Norwegian Cruise (NASDAQ:NCLH), Copa Holdings (NYSE:CPA).
    | Mon, Nov. 28, 8:44 AM
  • Mon, Nov. 28, 3:05 AM
    • The future of U.S.-Cuban relations has been thrown in doubt after the passing of Fidel Castro.
    • On the campaign trail President-elect Donald Trump criticized Obama for re-establishing diplomatic ties with Cuba, and his incoming chief of staff Reince Priebus told Fox News Sunday that Trump is willing to reverse the policy.
    • In March, Obama made the first visit to Cuba by a U.S. president in 88 years.
    • Related CEF: CUBA
    | Mon, Nov. 28, 3:05 AM | 7 Comments
  • Fri, Nov. 18, 5:13 PM
    | Fri, Nov. 18, 5:13 PM
  • Thu, Oct. 27, 4:59 AM
    • The United States has for the first time abstained from voting against the annual U.N. resolution calling for an end to its economic embargo against Cuba.
    • "After 55+ years of pursuing the path of isolation, we are choosing to take the path of engagement," Ambassador Samantha Power declared, adding that the abstention "doesn't mean that the U.S. agrees with all of the policies and practices of the Cuban government", including "serious human rights violations".
    • CEF: CUBA
    | Thu, Oct. 27, 4:59 AM | 3 Comments
  • Sun, Oct. 2, 7:30 AM
    • The strongest hurricane in the Atlantic in almost a decade is expected to hit Haiti, Jamaica and Cuba shortly, as evacuations take place in high-risk areas.
    • Matthew is the strongest storm in the region since Hurricane Felix in 2007, and briefly reached the top category five on a scale of intensity, before weakening slightly.
    • The East Coast of the United States also remains on alert for potential impacts during the middle to latter part of this week.
    | Sun, Oct. 2, 7:30 AM | 5 Comments
  • Wed, Aug. 31, 2:28 AM
    • The first regularly scheduled commercial flight between the U.S. and Cuba since 1961 is set to fly today, as a JetBlue (NASDAQ:JBLU) plane departs Fort Lauderdale for Santa Clara. Transportation Secretary Anthony Foxx will be on board.
    • Other U.S. air carries that are planning to begin airline service to Cuba include American Airlines (NASDAQ:AAL), Frontier Airlines, Silver Airways, Southwest Airlines (NYSE:LUV) and Sun Country Airlines.
    • CEFs: CUBA
    | Wed, Aug. 31, 2:28 AM | 10 Comments
  • Tue, Mar. 29, 3:51 AM
    • Retired Cuban leader Fidel Castro has slammed President Obama's recent visit to the island, warning his countrymen to beware of Washington's sweet talk as both nations embark on a long and uncertain path toward improved relations.
    • Since officially taking over the presidency in 2008, Raul Castro has flirted with subtle economic liberalization, moves that would have been unimaginable under the elder Castro, who cultivated his political career around his personal enmity with the U.S.
    | Tue, Mar. 29, 3:51 AM | 1 Comment
  • Mon, Mar. 21, 4:16 PM
    • Up higher earlier in the session amid President Obama's trip to Cuba, the Herzfeld Caribbean Basin Fund (CUBA -9.3%) turned sharply lower in the day's final hour.
    • Investors late in the session were treated to a joint "press conference" between Obama and Raul Castro in which the Cuban dictator promised to release all political prisoners by the end of the day if provided a list of them.
    | Mon, Mar. 21, 4:16 PM | 5 Comments
  • Dec. 22, 2015, 2:29 AM
    • This month marks the first anniversary of President Obama's unilateral rapprochement with Cuba. Upon making the Dec. 17 announcement, the administration immediately moved to ease restrictions on American travel, with a promise to normalize relations.
    • The U.S. then deleted Cuba from its list of state sponsors of terrorism in May, reopened a Havana embassy in August, and announced a bilateral agreement to restore direct flights between the two countries last week.
    • So what's left of the embargo? A ban on access to bank credit, and legal claims for almost $8B in property stolen by the Cuban Revolution.
    | Dec. 22, 2015, 2:29 AM | 2 Comments
  • Sep. 18, 2015, 9:35 AM
    • The U.S. government issues more regulations to open up business with Cuba.
    • The rules will allow more travel, corporate expansion, and make it easier for companies to set up new operations in the nation.
    • Many of the new measures go into effect on Monday.
    • Companies with a potential interest in Cuba: RCL, CCL, JBLU, MA, V, OWW, AAL, NCLH, PEP.
    • Related closed-end fund: CUBA.
    | Sep. 18, 2015, 9:35 AM | 18 Comments
  • Aug. 18, 2015, 3:08 AM
    • Travel from the U.S. to Cuba has already increased 35% since the beginning of January, and the Obama administration is now working on a deal that would allow scheduled commercial flights by the end of 2015.
    • Presently, Americans must take charter trips to Cuba, and their visit must fall into one of 12 authorized categories due to a congressional ban.
    • The new move would loosen the terms of those categories, permitting direct bookings of commercial flights between the two countries.
    • CEFs: CUBA
    | Aug. 18, 2015, 3:08 AM | 1 Comment
  • Jul. 20, 2015, 3:41 AM
    • Opening up a new chapter in post-Cold War ties, the U.S and Cuba have formally restored diplomatic relations severed more than five decades ago, by re-establishing embassies in each other's capitals.
    • While many European officials and companies are visiting Cuba in record numbers to seek business deals, American companies are still prohibited from doing trade with the country and traveling there from the U.S. as a tourist remains illegal.
    • CEFs: CUBA
    • Previously: Obama urges Congress to lift Cuba embargo (Jul. 02 2015)
    • Previously: U.S., Cuba to establish full diplomatic relations (Jul. 01 2015)
    | Jul. 20, 2015, 3:41 AM | 6 Comments
  • Jul. 9, 2015, 9:57 AM
    • European officials and businesses are visiting Cuba in record numbers, attracted by its market reforms and improved relations with the U.S.
    • "No one wants to miss the train," said Herman Portocarero, the EU's ambassador to Cuba.
    • Hundreds of companies accompanied delegations from Spain, Italy, France, Britain and the Netherlands in recent weeks and several more are scheduled to make the trip.
    • CEFs: (CUBA +1.6%)
    | Jul. 9, 2015, 9:57 AM | 3 Comments
  • Jul. 2, 2015, 4:16 AM
    • Following a decision to reopen the American embassy in Havana on July 20, President Obama is now urging Congress to lift the U.S. trade embargo on Cuba.
    • "We don’t have to be imprisoned by the past," Obama said at the White House. "Americans and Cubans alike are looking to move forward. I believe it’s time for Congress to do the same."
    • After climbing 8.2% during the session yesterday, closed-end Caribbean Basin Fund CUBA rose another 4.3% in after-hours trade.
    • Previously: U.S., Cuba to establish full diplomatic relations (Jul. 01 2015)
    | Jul. 2, 2015, 4:16 AM | 3 Comments