All posts by Amelia Jacobs

About Amelia Jacobs

Amelia Jacobs began her career in business following a surprisingly successful trip to China. Having visited the region as a tourist, she returned to America as an import-exporter. Today, Jacobs runs a thriving import-export company, splitting her time between Chicago and Shanghai. Contact Amelia at amelia[at]businessdistrict.com

Miami Business Opens Office in Cuba

Emerging Markets, News, , , ,
La Habana. Photo from Wikipedia.

The International Port Corp, a Miami-based shipping company, is the first US company to open a staffed office in Cuba since restrictions on US trade with Cuba have been eased.

A number of companies have applied for and have been given licenses from the US government to open operations in Cuba, but so far only IPC has followed through. Owner and President of IPC, Larry Nussbaum, said that his company rented a warehouse in Havana from the government of Cuba. It is staffed with six employees who were hired by a Cuban government employment agency. IPC pays the employment agency.

“The opportunities are great. Cuba is open for business,” Nussbaum said. “Now we need the American legislation to make it legal for companies like mine to expand what we can legally do in Cuba.”

IPC was first awarded their license to ship between Miami and Havana in July 2012 on humanitarian grounds. Since that time Nussbaum has expanded his company to also include commercial shipments and cargo for diplomats, by air and sea.

Despite the lifting of restrictions there has not been a serious upsurge in shipments to Cuba because Cuba is not buying too much from the US right now. The main problem is that the US embargo does not allow the offer of credit to Cuban purchasers of US products, so there is no competition in the market.

“The growth of my business is dependent on the U.S. making more activities legal,” Nussbaum said.

Efficient Business Trip Packing

Lifestyle, , ,
Prada Luggage. Photo by o5com
Prada Luggage. Photo by o5com

Business trips are cumbersome necessity of life. Be sure to follow some or all of the following tips to make your next business trip as event-free and headache-free as possible.

Luggage

The best way to avoid losing your luggage is not to have any in the first place. Pack all you need in one carry-on bag. This will eliminate the chance that you and your luggage will separate during the trip. Always be ready for the next business trip by keeping you loyal carry-on packed with clean clothes and ready-to-go.

Keep a Copy of Your Itinerary

If you will need to make many stops in many cities, keep track of everything easily by having easy access to your complete itinerary. While you are at it, keep your passport, visa and any other essential papers easy to reach for inspection.

Laptop

Whether you travel with a laptop, tablet or any other device, be sure to bring it along fully charged. Don’t forget to bring along the charger, as well.

Take Your Business Cards

Your business cards are a great way to network, which is a lot of what going on a business trip is all about. Keep your cards and your colleague’s cards handy, and be sure to hand them out.

Chargers

As laptops, tablets and cell-phones grew and continue to grow in popularity and importance, we must remember they need to ‘eat,’ too. Airports are more and more offering docking stations for charging, and even some airplanes are equipped with SD ports to make it easier to charge.

Clothing

Try and bring clothes that are less likely to wrinkle inside your carry-on. Take along neutral colors that can be worn with a large variety of different combinations of clothing. Two pairs of shoes at a minimum should be packed.

Disappointing Number of Jobs Added in January

Economy, , ,

According to the Bureau of Labor Statistics, the United States added 151,000 jobs to the job market, helping to bring the unemployment rate down to 4.9 percent.

The figure of 151,000 was lower than expected and was a sharp decline from the number of jobs that were added in December, which was 292,000. The lower figures were pushed down due to the loss of jobs in education and transportation.

General US economic growth slowed as well, down to an annual rate of only 0.7 percent during the last quarter of 2015. Third quarter growth was measured at 2 percent in 2015.

The statistics have investors worried, reflected in a downturn in the Dow Jones average which closed lower by 215 points, or 1.3 percent. For other investors the news is a sign that  the Feds will most likely not raise interest rates.

“I’m a little surprised the markets reacted somewhat negatively to it,” said Sean Lynch at the Wells Fargo Investment Institute. “It is actually a pretty good number that should be welcomed by the equity markets, it takes some of the concern the Fed moves too quickly off the table a little bit.”

Fintech Wish List

Tech News, , ,

Financial technology, or rather ‘fintech’ is all the rage these days all over the world, especially from Sweden to Israel to Kenya. The USA is also doing its share to help re-invent the way money moves and create smarter markets, with a juicy $31.6 billion flowing into R&D in this sector during the coming five years.

Let’s leave America for a moment and observe (jealously) the fintech innovations that are now in use outside the US, and hope that someday, sooner rather than later, these inventions arrive at our shores.

•    eToro– Developed as a UK/Israel joint venture in 2007, this is a “social trading” platform that allows people to follow traders to see what they do in order to get ideas from the pros. eToro also lets users automatically copy their favorite traders. The really innovative idea here is that the platform gives the traders with the most followers a 2% management fee based on the money that they are essentially managing.

•    BehavioSec– Launched in 2007 in Sweden, this security platform offers biometric security for online banking. The system takes a two-pronged approach to security, identifying suspicious users by the way they type, move their mouse or touch the screen of their phone. It’s kind of like having a security guard on hand looking for strange behavior even if technically the “ID” is correct. Almost every Nordic bank uses BehavioSec, and it was recently introduced in the UK.

•    mPesa– In 2007 Kenya was introduced to a mobile wallet known as mPesa. It is now the most successful such tool in the world. It allows people without bank accounts to send, receive or pay their bills using their phone. An amount equal to 42% of Kenya’s GDP is transacted using mPesa.

Yael Eckstein: The Intersection of the Spiritual and Physical

Lifestyle, , , ,

In a world which seems to be increasingly materialistic, it is like a breath of fresh air to learn about people who are working hard to combat this trend. One of those people is writer Yael Eckstein, who is also Senior Vice President of the International Fellowship of Christians and Jews.

Eckstein is a regular contributor to the Jerusalem Post, and has authored two books: Holy Land Reflections: A Collection of Inspirational Insights from Israel, and Spiritual Cooking with Yael. Eckstein’s articles in the JPost remind us to keep our priorities straight and be thankful for all the good in our lives. Her most recent articles discuss helping immigrants to Israel from countries where it is difficult to freely practice Judaism; the need for governments, organizations, and individuals to help the Druze community in Syria who are suffering from persecution and from Syria’s civil war; and the obligation and responsibility to care for aging, destitute Holocaust survivors.

Spiritual Cooking with Yael offers simple, healthy recipes while integrating words from the Bible, meditations, and spiritual teachings into each. The goal of the book, as Eckstein puts it, is to “transform the physical acts of cooking and eating into a spiritual experience using the proper thoughts and intentions.”

Her work with the IFCJ, as an overseer of all ministry programs and as a spokesperson, allows Eckstein to be “an advocate for those in need, and a passionate voice for the vision and mission (of IFCJ),” said IFCJ board chairman John French.

In a world which feels and looks to be overwhelmingly indifferent to the pain of others, it is inspiring to know there are people like Yael Eckstein working to help those in need.