Obama to allow US telecoms to operate in Cuba

By Hercules Kataveli, B2P
Published on Tuesday April 14, 2009 at 12:52 pm ET
Updated 08-25-11, 3:17 pm ET

In Obama’s latest bid to try ease relations between the U.S. and communist Cuba, Obama has outlined plans to allow U.S. telecommunications companies to place bids for licenses to supply their services in Cuba. The new rules will allow U.S. telecoms to setup networks, including fiber-optic cables and satellites to link the U.S. with Cuba.

This could pave the way to bring more affordable communication systems to Cuba, and will increase the follow of information to the island.

The move comes about a week ahead of the Summit of the Americas meeting in Trinidad.

Obama most recently announced plans to removed some travel restrictions to Cuba, with the hope of eventually completely eliminating travel restrictions to the island (which would require congressional passing).

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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