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Business

Cartoon by Clay Jones Donald Trump Praises Brexit as Global Markets Tumble

Cartoon by Clay Jones Amid high security, presumptive Republican candidate for United States presidency, Donald Trump, visited Scotland where he was due to inaugurate his luxury hotel and golf complex Friday. Arriving by helicopter, Trump said the United Kingdom's decision to leave the European Union was a "great thing" and that the British people had "taken back their country." Accordin...

Bionovelus Eco-Friendly Coffee Rust Fungicide Being Shipped to Costa Rica

Bionovelus Phoenix, June 22, 2016 (GLOBE NEWSWIRE) -- BioNovelus, Inc. (PINKSHEETS: ONOV) is pleased to announce that four thousand (4,000) bottles of its biodegradable fungicide, CR-10, the answer to killing coffee rust, has been manufactured for delivery to Costa Rica. Mr. Jean Ekobo, President/CEO of BioNovelus, Inc., says, "This CR-10 allotment is slotted for ongoing tests with our partne...

Crowne Plaza in San Jose. Source: ICT Costa Rica at the First Global Meetings Industry Day

SAN JOSE, Costa Rica – Last year, Costa Rica received over one million North American visitors who arrived in the country by air, and over 13 percent of these directly associated to business related travel. In recognition of the key role that the meetings industry has on the country, Costa Rica joined hundreds of other nations around the world to support the first ever Global Meetings Industry Day...

CooperVision Major Contact Lens Manufacturing Facility Opens in Costa Rica

SAN JOSE, Costa Rica — CooperVision has opened a new, 100,000 square-foot, high-volume manufacturing facility at Coyol Industrial Park in Alajuela, Costa Rica, the company announced earlier this week. The Costa Rica plant is the company’s second site for clariti 1-day silicone hydrogel lens manufacturing, joining an existing facility in Budapest, Hungary. CooperVision also maintains high-volume...

Flickr CC Costa Rica Liquor Market: Variety Increasing – Prices Remain Stable

Both mature and developing alcoholic drinks categories in Costa Rica experienced increased competition in 2015 - a development which, along with product innovation and changing consumer value expectations, were the main sales drivers within the area during 2015. Volume and value growth remained limited in 2015, with there being a clear trend towards modest pricing and an increase in the penetratio...

Source: Kinetos Costa Rica Big Data Software Developer Expands to Florida

Source: Kinetos COLORADO SPRINGS, Colo., June 8, 2016 /PRNewswire/ -- On May 25th, 2016 STL Marketing Group, Inc. (OTC: STLK), the "Company", has created a new 51% owned subsidiary to handle the sale and commercialization of the Hound Software product that has been developed by Kinetos, S.A., a Costa Rican privately held corporation ("Kinetos"). Kinetos owns the remaining 49% of the subsidiary...

Airxpanders Australian Medical Device Firm Will Manufacture from Costa Rica

PALO ALTO, Calif., June 8, 2016 /PRNewswire/ -- AirXpanders Inc. (ASX: AXP) (AirXpanders or Company) a medical device company focused on the design, manufacture, sale and distribution of the AeroForm® tissue expander, today announces that it has received commitments from sophisticated and professional investors to subscribe for 26,315,790 CHESS Depositary Interests (CDIs) (representing 8,771,930 s...

Wikimedia Commons First Ship Scheduled to Cross Expanded Panama Canal Gets Underway

Wikimedia Commons Panama City, Jun 11 (EFE).- The container ship Cosco Shipping Panama, which on June 26 will be the first to pass through the expanded Panama Canal, set sail Saturday from the port of Piraeus, Greece, on its way to this Central American country, official sources said. Canal administrator Jorge Luis Quijano, currently in Greece with a delegation of the Panama Canal Authority...

Bionovelus U.S. Biotech Firm Chooses Costa Rica as Central America HQ

Bionovelus PHOENIX, AZ / ACCESSWIRE / June 9, 2016 / BioNovelus, Inc.  is pleased to announce the creation of BioNovelus-CostaRica, a legal entity that will register BioNovelus products for each country in Central America. The registration for Costa Rica should be achieved by the end of the third quarter of 2016. BioNovelus President/CEO Jean Ekobo has presented biodegradable fungicide CR-1...

Wikimedia Commons Costa Rica Firm is a Global Market Leader in Aloe Vera Extracts

Wikimedia Commons VALLEY COTTAGE, New York, May 31, 2016 /PRNewswire/ -- Aloe vera extracts are gaining traction as an essential ingredient in food, cosmetics and pharmaceuticals, with global volume to surpass 60,720.4 tonnes in 2016 end, representing revenues worth US$ 1.6 Bn, and one company in Costa Rica is a market leader in this sector. Demand for aloe vera extracts for manufacturing a...

CNFL wind power Costa Rica $149 Million Secured for Wind Energy Projects in Costa Rica

Gamesa, Spanish engineering company, to bring wind energy production to Guanacaste The Alisios Wind Projects, owned and sponsored by Globeleq Mesoamerica Energy (Wind) Limited (“GME”), a subsidiary company of Globeleq Generation Limited and Mesoamerica Power Ltd., have secured USD149 million in long-term debt financing. The project debt financing and syndication was completed in April 2016 ...

panama canal Panama Canal Suffers Damage Ahead of Expansion Inauguration

(CRS Archive) Panama City, May 30 (EFE).- The Panama Canal Authority, or ACP, said Monday that the repairs to a wall in the southern section of the Miraflores lock that collapsed over the weekend is progressing at a steady pace, but will take at least five weeks to complete. "All the canal's operations are continuing in an absolutely normal way. It is estimated that the first phase of the w...

Source: Flickr Commons Beyond FATCA, Costa Rica Adopts “GATCA” Tax Reporting Measures

The unpopular Foreign Account Tax Compliance Act (FATCA) of the United States has set off a rash of similar legislation around the world, and Costa Rica has been eager to adopt these international asset reporting treaties, which many taxpayers consider overreaching and in violation of financial privacy. The Costa Rica Star has reported on FATCA numerous times, and in September 2014 we reported ...

Source: Pure Hospitality Strong Business Interest at Costa Rica Expotur 2016

Source: Pure Hospitality LAS VEGAS, NV -- (Marketwired) -- 05/23/16 -- Pure Hospitality Solutions, parent Company of the Central American-Caribbean online travel Agency (OTA) Oveedia, announced today, that the overall response from Expotur 2016 has proven to be overwhelmingly successful for the Company''s OTA, as nearly 100 hotels and tour providers have expressed interest in aligning with Oveed...

Bionovelus Executives of Promising Biotech Firm Will Visit Costa Rica

SCOTTSDALE, AZ / ACCESSWIRE / May 23, 2016 / BioNovelus executives President and CEO Jean Ekobo, and CFO, Mark Johnson, will be in Costa Rica the week of May 23, 2016 touring and evaluating five coffee farms participating in a Pilot Test that has revealed CR-10 to be an effective coffee leaf rust killer. Additionally, BioNovelus has signed a Letter of Intent with a prominent Costa Rican distrib...

BICSA in Panama. Wikimedia Commons Negative Outlook for International Bank of Costa Rica

BICSA in Panama. Wikimedia Commons Fitch Ratings-New York-20 May 2016: Fitch Ratings has affirmed Banco Internacional de Costa Rica's (BICSA) Long-Term Issuer Default Rating (IDR) at 'BB+' and its Viability Rating (VR) at 'bb' following a peer review of Panama's midsized banks. Fitch also affirmed BICSA's National Ratings in Panama. The Rating Outlook for the bank's IDR and Long-Term National ...

EFE/File IMF Deems Reduction of Dollarization “Important for Costa Rica”

The Greenback IMF Media Release - On May 16, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Costa Rica. Costa Rica bounced back quickly from the 2008–09 global crisis, but growth, despite picking up in the last two years to 3.75 percent, has stayed below trend, while macro vulnerabilities, mainly from the weak fiscal position, h...

Flickr Commons Major LinkedIn Data Breach Puts Members at Risk

Flickr Commons LinkedIn, the largest business-oriented social platform and one of the most popular social networks in the world, is warning members about a major data breach and is forcing a massive reset of passwords as a security measure. An update posted to the LinkedIn corporate blog yesterday explained the situation: In 2012, LinkedIn was the victim of an unauthorized access and discl...

U.S. Ambassador Haney Tampa Bay and Costa Rica Trade Agreement Valued at $12.1 Million

U.S. Ambassador Haney Tampa Bay, Fla. (PRWEB) May 16, 2016 - Leaders of the Tampa Bay Export Alliance (TBEA), a cooperative effort of the Tampa Hillsborough Economic Development Corporation and Pinellas County Economic Development, are sharing the outcomes of last month’s joint trade mission to San José, Costa Rica, which took place from April 12-15. “The trade mission to Costa Rica was one...

Laura Chinchilla Nearshore Success Explained by Former President of Costa Rica

By Matt Kendall Now in its sixth year, Nearshore Americas’ seminal conference Nexus attracted 150 attendees and close to 20 sponsors to the Le Meridien hotel in San Francisco, the first time this tech-centric city has played host to the event. Kicking things off to a flying start was a fascinating and insightful keynote speaker, Laura Chinchilla, former President of Costa Rica, who presented...

Source: Calvin Ayre Facebook Costa Rica Online Gambling Pioneers and the Panama Papers

Source: Calvin Ayre Facebook Two online gambling moguls wanted by United States prosecutors are among the many individuals appearing in the Panama Papers, a scandalous investigation conducted by data journalists and a whistleblower, and both men are considered to be godfathers of the Internet gambling industry in Costa Rica. According to investigative journalist Josh Meyer of NBC News, the ...

Grupo Bimbo Bakery Giant Expands in Costa Rica; Creates 200 New Jobs

Grupo Bimbo San Jose, May 5th, 2016. Grupo Bimbo – the world's largest baking company inaugurated its new Global Service Center today, in the district of Tres Rios, La Union de Cartago, which will provide support to the English speaking US market. The Costa Rican President, Luis Guillermo Solís; the Minister of Foreign Trade, Alexander Mora; CINDE’s managing director, Jorge Sequeira, ...

Source: Wikimedia Commons Beer Commercial With Sofia Vergara at the Beach Causes Commotion

Source: Wikimedia Commons Bogota, May 8 (EFE).- Actress Sofia Vergara on the weekend stirred up the northern Colombian city of Cartagena, returning to her homeland to shoot a beer commercial with white beaches in the background under the watchful and thrilled eyes of journalists and fans. "Toti," as her friends call her, arrived in Cartagena on a private jet to take on her role as the...

Bionovelus Testing of Coffee Fungicide in Costa Rica Leads to Investment Opportunity

Bionovelus SCOTTSDALE, AZ / ACCESSWIRE / May 5, 2016 / BioNovelus, Inc. (PINKSHEETS: ONOV) is pleased to announce the triumph of CR-10, their environmentally friendly fungicide product. Test results in five coffee plantations have proven that biodegradable CR-10 is a coffee rust killer! Coffee rust or "roya" (Hemileia vastatrix) is a devastating fungus that has already cost $2.5B to the coffee...

panama canal U.S. Marine Transportation Professor Will Teach in Costa Rica

CASTINE, Maine—Maine Maritime Academy Professor of Marine Transportation Daniel Parrott, of Blue Hill, has received a Fulbright U.S. Scholar Grant to work at the University of Costa Rica’s new School of Nautical Engineering and Maritime Transport (Ingeniería Náutica y Transporte Marítimo) in Limón, Costa Rica. The university’s program in marine transportation was established in 2012. Parrott will ...

Wikimedia Commons A Solid Forecast for Office Space and Commercial Real Estate in Costa Rica

Wikimedia Commons Commercial real estate giant Cushman & Wakefield recently issued its Q4 2015 Office Snapshot report for the Greater San Jose Metropolitan Area (Spanish acronym: GAM) of Costa Rica, and the 2016 forecast for this sector is positive.   According to the Office Snapshot, economic growth in Costa Rica slowed down in 2015, but total business production recorded a 2.8...

Wikimedia Commons Major Medical Research Organization Expands to Costa Rica

Wikimedia Commons NORTHWOOD, Ohio--(BUSINESS WIRE)--NAMSA, the world’s leading medical research organization, is pleased to announce the addition of Microbiological Compliance Laboratories (MCL) as NAMSA’s local agent in Costa Rica. MCL is a microbiology and sterility assurance lab supporting US and European medical device and pharmaceutical manufacturers in the region. MCL provides local m...

Pixabay Commons Medical and Dental Tourism Could Double in Costa Rica by 2020

Pixabay Commons The number of health travelers from the United States who visit Costa Rica for medical and dental procedures could double by the end of this decade. Such was the forecast recently broadcast by national television network Teletica in a report by Adrian Fallas. In 2015, Costa Rica welcomed about 50,000 medical and dental tourists; this figure was reported by ProMed, an organiz...

FARC child fighter. Flickr Commons The Economist: Net Worth of Colombian Guerrillas is $10.5 Billion

FARC child fighter. Flickr Commons Bogota, Apr 17 (EFE).- The Revolutionary Armed Forces of Colombia, or FARC, guerrilla group said in a post on social media this weekend that it did not have a fortune of $10.5 billion as reported by Britain's The Economist. FARC chief peace negotiator Ivan Marquez called the article a "joke" in a Twitter post. "They should check their sources and not be...

Pixabay Commons Business and Entrepreneurship Boot Camp in Costa Rica

Pixabay Commons HOWELL, MI--(Marketwired - Apr 14, 2016) - Cleary University today announced the launch of its new Global Entrepreneurship Bootcamp in Costa Rica. The bootcamp is focused on teaching participants the basic principles of building a location independent business. The pilot bootcamp will run August 7 through August 11, 2016. Beginning in 2017, the Global Entrepreneurship Bootcamp ...

Wikimedia Commons Credomatic Bonds Are Looking Good in Costa Rica

CHICAGO--(BUSINESS WIRE)--Fitch Ratings has assigned an 'A-(EXP)' rating to the proposed $100 million Series B notes to be issued by CIC Central American Card Receivables Limited. The Rating Outlook is Stable. A full list of rating actions follows at the end of this press release. Credomatic International Corporation (CIC) is the exclusive issuing and acquiring partner of American Express (AmEx...

Flickr Commons Costa Rica Officials Will Join Google at Communications Summit

BOGOTA, Colombia--(BUSINESS WIRE)--The Dynamic Spectrum Alliance (DSA) today announced that CAF – development bank of Latin America - , Google Inc. and the International Telecommunications Union (ITU) will be joining an incredible line up of speakers at its Global Summit in Bogota, Colombia (26-28 April). CAF promotes a sustainable development model through credit operations, non-reimbursable reso...

(CRS Archive) IDB warns of weak economic growth in Latin America through 2020

(CRS Archive) NASSAU (EFE) The Inter-American Development Bank on Sunday warned that Latin America will grow at an average annual rate of 1.7 percent through 2020, less than half the 4 percent the region registered during 2003-2013, and thus it is urgent to invest in infrastructure and adopt comprehensive fiscal reforms. For 2016, the IDB forecasts a 0.3 percent economic contraction due to ...

Wikimedia Commons Negative Economic Outlook for Costa Rica, Brazil and Suriname

Wikimedia Commons NEW YORK--(BUSINESS WIRE)--In its Latin American Sovereign Overview, Fitch Ratings forecasts that regional GDP will contract by 1% in 2016 after an estimated contraction of 0.9% in 2015, with risks largely skewed to the downside. Latin America continues to suffer from lower commodity prices, moderating China growth and external financial volatility. In some cases, political c...

Banco Nacional branch in Liberia, Costa Rica Negative Outlook for New Bonds of Biggest Bank in Costa Rica

Banco Nacional branch in Liberia, Costa Rica New York, April 07, 2016 -- Moody's Investors Service has assigned a Ba1 foreign currency senior unsecured debt rating to Banco Nacional de Costa Rica (BNCR)'s proposed US dollar senior note issuance for an expected amount of US$500 million. The instrument will be governed by the laws of the State of New York. The outlook on the rating is negative,...

Stock/Archive (Pixabay Commons) Ten Dangerous Hiring Mistakes to Avoid in Costa Rica

(Pixabay Commons) Editor's note: This is a guest column by Patrick Goodness, CEO of The Goodness Company. I’m not one to air dirty laundry in public, but if you are a business owner in Costa Rica, this story is important enough to share.   About 6 months ago, our leadership team decided that our company was ready to invest for growth.  As an overworked CEO, I realized that we needed the ...

A 500-ton Mitaplas injection molder, starting bid just $1,000. Huge online auction of industrial and shop equipment in Costa Rica underway

A 500-ton Mitaplas injection molder, starting bid just $1,000. There are also hundreds of items perfect for small or home workshops. SPONSORED A California firm with operations in the United States, the United Kingdom and Australia has launched an online auction of a massive selection of industrial and shop equipment located in Costa Rica on behalf of Mabe, a Mexican-owned company which des...

EFE/File The Panama Papers: Offshore Secrets of the Rich and Powerful

EFE/File Washington, Apr 3 (EFE).- The largest journalistic leak in history, which came to light on Sunday with the participation of the Washington-based International Consortium of Investigative Journalists, suggests that 140 politicians and officials from around the globe, including 72 former and current world leaders, have connections with secret "offshore" companies to escape tax scrutiny ...

Screenshot of INS webpage Bonds of Costa Rica Insurance Giant Get Favorable Rating

Screenshot of INS webpage MEXICO CITY--(BUSINESS WIRE)--A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Instituto Nacional de Seguros (INS) (San Jose, Costa Rica). The outlook for each of these ratings remains stable. The ratings reflect INS' strong capitalization, supported by a comprehensive and adequate reinsurance program, g...

Banco Popular branch in Cuidad Quesada, built by Edificadora Beta Negative Outlook For Yet Another Major Bank in Costa Rica

Banco Popular branch in Cuidad Quesada, built by Edificadora Beta Fitch Ratings-New York-31 March 2016: Fitch Ratings has affirmed Banco Popular y de Desarrollo Comunal's (BPDC) long-term foreign currency Issuer Default Rating (IDR) and local currency long-term IDR at 'BB+'. The Rating Outlook is Negative. Fitch has also affirmed the bank's short-term foreign currency IDR and short-term local ...

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