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panama canal Engineers at the Panama Canal Repair Cracks in Expansion Project

Panama Canal Panama City, Feb 13 (EFE).- The Panama Canal Authority, or ACP, said a successful test was conducted on a section of the new third set of locks where cracks were discovered last year. The test by the GUPC consortium responsible for the new locks, led by Spanish construction group Sacyr Vallehermoso, consisted of gradually raising the water behind Gate No. 6 of the Cocoli locks ...

201602111036171.imperial Costa Rica’s national brewery launches Imperial Cero, alcohol-free version of country’s favorite beer

(Courtesy) National brewer, Cervecería Costa Rica is introducing a new version of the country’s favorite cerveza, Imperial, which contains 0.0 percent alcohol. The new beverage, called Imperial Cero , is aimed at consumers who like to enjoy a beer but cannot always consume alcohol, the company said. “It’s a bet by on innovation and technology. We have made a significant financial invest...

Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, February 9, 2016.     REUTERS/Staff/Remote Global shares plunge on global growth, bank fears

Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, February 9, 2016. REUTERS/Staff/Remote By Sam Forgione NEW YORK (Reuters) - Stock indexes worldwide tumbled on Thursday on fears over the health of the global economy, with banking shares slumping on both sides of the Atlantic, while safe-haven 10-year Treasury yield...

NTT Data Major US Data Center Opens in Costa Rica Ahead of Job Fair

NTT Data Plano, TX – February 11, 2016 – NTT DATA, Inc., a leading IT services provider, announced today that it has opened a new service delivery center located in San Jose Costa Rica, to support its growing business in North America. The addition of the Costa Rica center strengthens the company’s ability to respond quickly and efficiently to client needs with accelerated solutions that lever...

Banco Nacional branch in Liberia, Costa Rica Negative Outlook for Bonds of Major Banks in Costa Rica

Customers in a branch of Banco de Costa Rica New York, February 09, 2016 -- Moody's Investors Service has today changed the outlook on the long-term local currency deposit and foreign currency deposit and senior unsecured debt ratings of Banco Nacional de Costa Rica (BNCR) and Banco de Costa Rica (BCR) to negative from stable. At the same time, Moody's affirmed the banks' long and short-term l...

Wikimedia Commons Moody’s Lowers Costa Rica Bond Outlook to Negative

Source: Banco Central New York, February 08, 2016 -- Moody's Investors Service (Moody's) has today changed the outlook on the Government of Costa Rica's Ba1 issuer rating to negative from stable. At the same time, Moody's has affirmed Costa Rica's Ba1 senior unsecured and issuer ratings. The decision to change the outlook reflects Moody's expectation that the lack of political consensus to ...

Source: CINDE Costa Rica Will Exhibit at Medical Device Manufacturer Trade Show

Source: CINDE CINDE Press Release - The Costa Rican Investment Promotion Agency (CINDE) will be participating at this year's MD&M West event in Anaheim, California. Learn more and identify key investment opportunities in Costa Rica to gain competitive advantages for your business. When: Feb. 9 - 11 at the Anaheim Convention Center in Anaheim, California. Where: Booth 1647- Hall D....

New quick-action gesture iPhone 6s WeCare Mobile Campaign Launched by Costa Rica Wireless Providers

Source: Wikimedia Commons SAN JOSÉ, Costa Rica--(BUSINESS WIRE)--Mobile operators today announced a series of new initiatives as part of the WeCare Costa Rica campaign run by the GSMA to provide a safer and more reliable environment for all mobile users. Operators Claro, ICE and Telefónica will work together to fight mobile phone theft as well as facilitate greater accessibility for consumers ...

Pixabay Commons Dental Tourism Economics in Costa Rica and Around the World

The growth of medical and dental tourism in modern society is worthy of socioeconomic research, which is precisely what investigative journalist Sasha Issenberg has accomplished in a new book. When it comes to dental tourism, Costa Rica is the darling of the Americas. In Europe, Costa Rica's counterpart nation is the Republic of Hungary, where dental tourists from across Western Europe flock to...

Scotiabank Scotiabank Completes Citi Acquisition in Costa Rica and Panama

TORONTO, ON and NEW YORK, NY--(Marketwired - February 01, 2016) - Scotiabank announced today that it has acquired Citigroup's consumer and commercial banking operations in Costa Rica and Panama. The signing of these acquisitions was announced in July 2015 and the transactions are valued at approximately USD$360 million. "These acquisitions align with our strategy to deepen relationships and inc...

Grupo ICE Negative Outlook for ICE Bonds in Costa Rica

Source: Pixabay Commons NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed Instituto Costarricense de Electricidad y Subsidiarias' (Grupo ICE) foreign- and local-currency Issuer Default Ratings (FC/LC IDRs) at 'BB+' and its National Scale ratings at 'AAA(cri)'. The Rating Outlook remains Negative. A complete list of rating actions follows at the end of this release. Grupo ICE's ratings a...

Founder and Senior Partner Marcela Gurdian Benefits of Residency by Investment in Costa Rica

Founder and Senior Partner Marcela Gurdian Earlier this year, the pretty Caribbean nation of St. Lucia in the Windward Isles officially started accepting applications for its “citizenship by investment” program. Located to the south of Martinique and more than 2,500 kilometers from Costa Rica, St. Lucia is part of the Commonwealth of Nations, and is now the latest country to offer economic cit...

Wikimedia Commons Eco-Friendly Solution to Coffee Rust Could Benefit Costa Rica

Source: iCafe BioNovelus, a clean tech company that aims to offer a portfolio of green solutions for various applications, recently received positive results from lab and field trials showing BioNovelus’ technology as an effective, eco-friendly biopesticide against Hemileia vastatrix, the fungus named “coffee rust,” or “roya” in Central and South America. The company hopes to put this eco-f...

Wikimedia Commons A Credit Card in Brazil Will Cost You 431% APR

Wikimedia Commons Rio de Janeiro, Jan 27 (EFE).- The average annual percentage rate on Brazilian credit cards climbed to 431.4 percent in December, its highest level since that statistic began to be published in March 2011, the Central Bank said in a statement Wednesday. The average credit card APR rose by 16.1 percentage points in December compared with November and by 99.8 percentage poin...

Source: Marcopolo Flickr 64 New, Stylish Marcopolo Buses Coming to Costa Rica

Source: Marcopolo Flickr Marcopolo S.A. Press Release - Marcopolo has just signed a new contract for the export of buses to some of the main transport operators in Costa Rica. The vehicles with different characteristics, will be used for urban, tourism and interstate transportation. "For a long time we have dedicated ourselves to broaden our bus sales, mainly to other Latin American countri...

panama canal Two Vessels Crash at the Panama Canal; One Sinks Immediately

Panama Canal Panama City, Jan 25 (EFE).- The Panama Canal is operating normally and was not affected by the sinking of a Venezuelan-flagged cargo ship that collided with another vessel at the Caribbean entrance to the interoceanic waterway, administrators said Monday. "The sinking of this vessel is not affecting the operations or traffic in the aquatic waterway," said the Panama Canal Autho...

Evonik headquarters German Chemical Firm Will Establish Operations in Costa Rica

Evonik headquarters SAN JOSE, Costa Rica, Jan. 19th, 2015 -  Evonik Industries, a leading global specialty chemical company based in Essen, Germany, announced today that it plans to open a financial shared services center in Costa Rica to serve the company’s operations in North and South America. Evonik will begin office construction and hiring during the first quarter of 2016 and expec...

Source: Pixabay Commons Negative Outlook for Hydroelectric Bonds in Costa Rica

Source: ICE CHICAGO--(BUSINESS WIRE)--Fitch Ratings has affirmed Reventazon Finance Trust's (RFT) US$135 million fixed-rate notes as follows: --US$135 million fixed-rate notes at 'BBB-'; Outlook Negative. The transaction is backed by a 100% participation interest in the Inter-American Development Bank's (IDB) B-Loan acquired through a participation agreement. Since IDB continues to be le...

EFE/File Convicted U.S. Ponzi Schemer Tried Escaping to Costa Rica

Orange County District Attorney Press Release - WESTMINSTER, Calif. – A “hard money” lender was convicted today of embezzling over $3 million from investors in a Ponzi real estate-mortgage investment fraud scheme. Thomas Franklin Tarbutton, 56, Newport Beach, was found guilty by a jury of 18 felony counts of grand theft, nine felony counts of forgery, 11 felony counts of using an untrue stateme...

Source: Banco Central Negative Outlook for Costa Rica’s Sovereign Bonds

Source; Banco Central de Costa Rica NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed Costa Rica's Long-term foreign- and local-currency IDRs at 'BB+'. The Rating Outlook is Negative. The issue ratings on Costa Rica's senior unsecured foreign- and local-currency bonds have been affirmed at 'BB+'. The Short-term foreign-currency IDR has been affirmed at 'B' and the Country Ceiling at 'BBB-'...

Wikimedia Commons The NiNis: A Major Threat to Latin American Economies

By Alfonso Fernandez Washington, Jan 19 (EFE; additional context by The Costa Rica Star).- One of every five people in Latin America between the ages of 15 and 24 is neither in school nor working and two-thirds of them are women, according to a World Bank study released Tuesday. The figure represents more than 20 million people in the region and the problem is especially acute in Central Ame...

Photo by Hector Landaeta, Flickr Commons Dental Tourism for U.S. Millennials in Costa Rica

Tourists who come to Costa Rica seeking affordable dental procedures are getting younger and more attuned to the idea of going abroad for treatment, and this is a trend that can be expected to expand this decade. As the North American members of the Millennial Generation join the workforce and the enterprise world, the dental industry is rushing to understand these young adults for the purpose ...

Source: Abbott Abbott Vascular Celebrates Five Years in Costa Rica

Source: Abbott CINDE Press Release - With the presence of Costa Rican President Luis Guillermo Solis and Abbott Vascular Division Senior Vice President Mr. Deepak Nath, the company celebrated the fifth anniversary of its vascular devices manufacturing plant in Costa Rica, whose products are distributed and used around the world. Abbott has been in Costa Rica for over 80 years through the sa...

Wikimedia Commons Impact of Massive Walmart Closures Unknown in Costa Rica

A Walmart store in Escazu, Costa Rica. File photo Washington, Jan 15 (EFE; additional reporting by The Costa Rica Star).- U.S. retail giant Wal-Mart Stores, Inc. on Friday announced plans to close 269 stores and lay off 16,000 employees, 6,000 of them outside the United States. In a news release, the Bentonville, Arkansas-based company said it would close 154 stores in the United States and...

Pixabay Commons BREAKING: China Rushes to Inject $15 Billion to Ailing Banks

Beijing, Jan 15 (EFE).- China's central bank said Friday it had extended 100 billion yuan ($15.18 billion) in loans to nine financial institutions, 10 days after announcing a similar operation to boost liquidity in the market. The injection of funds, which comes amid a slowdown in China's economy, was carried out via medium-term loans (six-month maturity) with an interest rate of 3.25 percent a...

Panama Canal New Maritime Cargo Service Connects Costa Rica with Florida

Maritime Executive Press Release - GT USA announced the January 2016 launch of the new Blue Stream weekly container cargo service connecting Port Canaveral to Europe, the French West Indies, and Central America. The Blue Stream service is operated by StreamLines, N.V., part of the Seatrade Group, providing refrigerated and dry container service to and from the Canaveral Cargo Terminal, with a f...

Source: SIG Dos Pinos Costa Rica Selects New Packaging Partner

Source: SIG (PresseBox) (Linnich, 12.01.2016) Products from Dos Pinos (www.dospinos.com) are the first choice for consumers in Costa Rica, as the 2015 “Brand Footprint” annual report published by Kantar World Panel confirms: 99.7% of survey participants said they had purchased products from Dos Pinos during the previous year. This successful cooperative – Central America’s and the Caribbean’s ...

Wikimedia Commons Costa Rica Ranks in the Top 20 for Outsourcing in 2016

Wikimedia Commons CHICAGO, Jan. 10, 2016 /PRNewswire/ -- A.T. Kearney today released its 2016 Global Services Location Index™ (GSLI), a research paper that analyzes and ranks the top 55 countries for outsourcing worldwide based on metrics in three categories: financial attractiveness, people skills and availability, and business environment. T he GSLI brings rigor to companies' location dec...

FreeStockPhotos.biz Venezuelan Oil and Mexican Peso Plummet to Record Lows

FreeStockPhotos.biz The looming economy crisis in Latin America is becoming more apparent with new reports from Mexico and Venezuela. The national currency of Mexico showed signs of retail weakness as global markets plummeted due to concerns about reduced growth of the Chinese economy, and the price of crude oil produced in Venezuela, an OPEC member nation, fell well below $30. The followin...

panama canal Criminal Charges Filed Against Panama Canal Expansion Firm

Panama Canal Panama City, Jan 9 (EFE).- The consortium responsible for the main Panama Canal expansion project is the subject of a criminal complaint in the Central American country for allegedly inflating its cost overrun claims. National Bar Association Vice President Juan Carlos Arauz filed the complaint, to which EFE gained access, on Thursday with Panama's Attorney General's Office. ...

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