Hotel Byblos in Costa Rica to host "Kids Saving the Rainforest" fundraiser to support the only local government sanctioned wild animal rescue center near Manuel Antonio National Park. Hotel Byblos Resort in conjunction with Kids Saving the Rainforest will be hosting a community fundraiser to collect funds and supplies to enable the continued care and operation of the only locally government...

There are three farms in Central America who auction online varieties of coffee such as geisha, mocha and yellow catuai, in small batches of about 300 pounds. Two of the farms are in Guatemala and one in Panama. They use this system of auction specialty coffee production, taking advantage of the emergence of "micro-roasters", who buy in small batches, of no more than 10 bags, coffee that ...

After consultation with the productive sectors Guatemala's government has decided to join the group of Central American countries negotiating a free trade agreement with Switzerland, Iceland, Liechtenstein and Norway. Guatemala had ruled out the idea of participating in the negotiations for a free trade agreement which Panama, Costa Rica and Honduras began with Switzerland, Iceland, Liech...

A bill is promoting the transfer of powers of the National Council of Port Concessions, to a Maritime Port Council. The project, presented by Victor Granados, entitled, "Ports and Maritime Law", proposes the establishment of a Maritime Port Council, which would have as its responsibilities planning issues and sea-port policies in the country. The Maritime Port Council would become the new...

Low revenues force Coopretrabusur to convert planted area to palm oil production. The Cooperativa de Trabajadores Bananeros del Sur (Coopetrabasur) is to transfer 115ha of a banana plantation in southern Costa Rica to a different crop, according to Costa Rican newspaper La Nación. As a result of low revenues, the co-operative will now cultivate palm trees on the land. Ronald Cardenas,...

The Republic of China is to conduct a feasibility study for the construction of a Special Economic Zone (SEZ) in the country. A press release from the Ministry of Foreign Affairs of Costa Rica reads: COMEX and the China Development Bank have signed agreement to initiate a feasibility study. On Thursday the President of the Republic, Laura Chinchilla, witnessed the signing of a Frame...

A Taiwanese company denied Thursday that it had sent a shipment of cocaine paste to Guatemala under the guise of its legitimate product, UV glazing oil. Heyio Enterprise said that the cocaine paste seized Monday by Guatemala's anti-narcotics officers must have been substituted for its ultraviolet glazing oil shipment en route to Puerto Quetzal. In a statement issued earlier in the day, t...

McDonald's restaurants in El Salvador may have to cover up their trademark golden arches if the world's biggest burger chain fails to make a payment related to a long-running contract dispute in the country, a court said on Thursday. The brand blackout would occur if McDonald's fails to pay $US23.9 million to a former franchise owner, although the court has yet to set a date for when the co...

In the first 7 months of 2012 revenue increased by 11.3%, but government spending continues to increase at a rate of 9.6% growth, just below the 10.4% recorded in the same period in 2011. A statement from the Ministry of Finance of Costa Rica reads: -The fiscal deficit persists despite efforts to increase revenue and reduce expenses. -Eurobonds are still a necessary source of fundin...

The National Institute for the Promotion of Competition (Procompetencia) has stated that there is an agreement between banks to fix interest rates on credit cards. The Supreme Court of Justice (CSJ) of Nicaragua annulled the resolutions issued by Procompetencia against the practice, considered by the watchdog as abusive against consumers. An article in Laprensa.com reviewed the situation...

Central America’s energy matrix contains an increased amount of hydrocarbon based generation, while the regional interconnection promises to reduce costs through economies of scale. In the past two decades Central America has not been too successful in achieving sufficient electricity generation with a stable supply at competitive prices. The regional matrix generation has changed from ...

The Latin American & Caribbean Tyre Expo recently concluded at the Atlapa Convention Center in Panama City, Republic of Panama. This year more than 3,000 tire dealers visited from over 80 countries, and more than 200 exhibitors participated from around the globe. Exhibiting companies included Sailun Tires, Triangle Tire, Bridgestone Tire Costa Rica, Tiremaxx International Corp.-Maxxis Ti...

Costa Rican President Laura Chinchilla arrived in Beijing to continue her official visit to China where she is expected to participate in a business forum on Wednesday and hold talks with President Hu Jintao on Thursday. Chinchilla completed the first period of her program in Shanghai, where she was welcomed by Mayor Han Zheng and made a call for increased economic ties. In that city, she a...

The pretty white Marango tree flower. Source: INBIO Costa Rica There is a tree that grows in certain areas of Guanacaste and other regions of Costa Rica that -depending on who you choose to believe- could wipe out hunger on a global level, cure most diseases tied to vitamin deficiencies, boost sustainable farming practices, serve as a renewable energy source, and even make people rich in just a ...

The old "cash is king" adage is losing stock in Costa Rica, and banks are cashing in on the new proclivities of Ticos who are charmed by plastic currency, online banking and mobile technologies. According to a comprehensive series of investigative articles on the prominent newspaper La Nacion, Costa Rica is a nation that is ripe for a cashless transformation, much to the delight of payment process...

This week I am in San José, Costa Rica, running a visualization workshop at La Nación, the main newspaper in the country. The participants —around 40— are a mix of journalists (reporters and editors), designers, infographics artists, developers, etc. La Nación is an uncommon case in Latin American journalism. They have a very strong investigative reporting team, led by Giannina Segnini, whi...

Beginning negotiations for the opening of a Chinese free trade zone in Costa Rica is one of the main goals that will accompany President Laura Chinchilla on her commercial mission during her visit to Asia. The tour will start next week to commemorate the fifth anniversary of establishment of diplomatic relations with the second largest economy in the world. The Minister of Foreign Trade (CO...

A half century after Elvis Presley had a hit with "Return to Sender," a Dartmouth College professor and three other economists have used the same idea to rate the efficiency of the world's governments. Rafael LaPorta and three economists at other universities mailed letters to nonexistent businesses in 159 countries - two letters to each country's five biggest cities - and waited a year to ...

Colombia is known for many things. On the plus side there is its vibrant lifestyle, its diverse and beautiful landscape with heart stopping vistas, its rich culture and history and, of course, its fabulous coffee. On the debit side there is its unfortunate place at the top of the world league of cocaine producers and a reputation for violence born out of South America's longest running armed co...

Urban growth in the east of the Costa Rican capital is underpinned by investment proposals in the Special Economic Zone of Cartago. The achievements of investment attraction in the province include the opening in November of Paseo Metropolis and the opening of the first phase of Oficentro Terra Campus Corporativo, said Silvia Hidalgo, Director of the Center for University-Industry Links a...

In light of the European crisis and slow growth in the U.S., the best protection for Latin American countries is macroeconomic discipline. Although it is believed that regional banks are "solid, liquid and stable," the recommendation for Latin America to avoid or at least mitigate the inevitable effects of the economic crisis in Europe and the slow recovery of the U.S., is to keep a lid o...

On Saturday, August 18th, 2012 the Community Action Alliance of Costa Rica will be conducting a job fair with IBM Costa Rica. IBM will be bringing a team of recruiters and managers to accept resumes and conduct pre-screening interviews to identify the most talented professionals and students from the region. The IBM Job Fair will take place at the Universidad de Costa Rica Regional Museum in...

An announcement has been made of a Brazilian investment of $25 million to install a brewery in San Jose. An article in Nacion.com reports that Rui José Prudencio is the president of Grupo Mix, a company in Costa Rica dedicated to importing Brazilian products through its distributor Dibras. Rui Prudencio announced that a Brazilian consortium is to develop the beer Colônia in Costa Rica ...

The current interest rates for loans to companies have reached levels not seen for six years. An article in Nacion.com reports that "Business are facing real interest rates ranging from 11% to 13%", with "real rates" defined as "the nominal amount, announced or offered by entities, minus inflation." This situation particularly affects SMEs who not only pay the highest interest rates on...

After having signed a contract for leasing the land for 25 years, the Spanish company Terminales de Contenedores de Barcelona will invest $120 million in the project. After a rumor had spread about a concession for Puerto Quetzal in Guatemala, which would have involved an international competitive tender, the controller of the port of Quetzal (EPQ), Allan Marroquin, yesterday informed Prens...

While various business sectors are trying to protect their interests from being affected, the governments involved want negotiations to proceed at an extremely fast pace. The Costa Rican Ministry of Foreign Trade seems to be deaf to the complaints of the agricultural and industrial sectors, opposed to the FTA with Colombia, and are pressing for negotiations to be speeded up. The Govern...

The agency has affirmed the international rating of Guatemala as 'BB +' with Stable Outlook. Fitch Ratings has affirmed the issuer default rating (IDR) and the Country Ceiling for Guatemala as follows: -- Foreign currency IDR at 'BB+'; -- Local currency IDR at 'BB+'; -- Foreign currency short-term IDR at 'B'; -- Country ceiling at 'BBB-'. The Rating Outlook remains Stable. Gua...

Legislative approval will allow the government to take advantage of the record minimum rates in the international market, easing pressure on interest rates in the domestic market. It will also decrease the pressure to solve the underlying problem, which is excessive government spending, especially that generated by the staff payroll, which not only continues to grow in quantity but also in ...

APM Terminals has signed a concession contract for 32 years to build and operate a container terminal with an investment of $900 million. The start of construction is scheduled for September. This first stage, at a cost of $300 million, should be completed in 2015. "The company said, through a statement, that they have signed a concession for 32 years with the Port Authority of Lazaro Ca...

The opening of Expomueble shines a spotlight on the growing numbers of exports of furniture and wood products. In the first half of 2012 exports from the sector totaled $43 million, confirming the trend that started 25 years ago in 1986 with overseas sales of just $3 million. Carlos Porras, president of the organizing committee said that Expomueble aims to increase exports from the sec...

The Executive branch organized a special session 18,070 project, which will absolve 80% of taxes on land for agriculture and livestock. The members of the agricultural sector celebrated, but will not be satisfied until the project becomes law, said Guido Vargas, National UPA. Saborío, the Agricultural Affairs Committee of the Legislative Assembly, said the list of projects will be establ...

FICEM-APCAC’s cement congress and exhibition is being held in San José, Costa Rica, between 3-5 September 2012. Costa Rica’s attractive location in Central America should see a busy event and ICR provides an outlook on the country’s cement industry. Little is said in terms of the cement industry in this Central American country, but recent developments have been fairly traumatic with the lo...

Sales of new cars at the end of 2012 in Nicaragua will total over 12,000 units. Data published by the Central Bank of Nicaragua (BCN) indicates that during the first five months of the year imports of sedans, vans, minibuses, trucks and ATV’s have gone up relative to previous years, surpassing even the 2008 statistics. In the view of Charles Benda, secretary of the Nicaraguan Association...

Costa Rica is filled with attractive lodging options, but when it comes to San Jose the options become narrower. The capital city has lots of potential, but it seems as if hoteliers sometimes forget about it. For this reason, backpackers are often resigned to spending scary nights at the rundown hotels near the Coca Cola bus terminal, businessmen flock to the soulless and expensive chain hotels, a...

SAN JOSE - Costa Rica utility Instituto Costarricense de Electricidad (ICE) seeks offers from consultants to serve as hydropower expert on a panel reviewing preparation of hydroelectric and geothermal energy projects. Responses are due August 13. The work is to be performed under a program financed by the Inter-American Development Bank to confirm the projects meet the expectations of the l...

Impoverished Honduras has been going through an especially rough patch. A military coup in 2009 ousted its president. Drug violence has helped give Honduras the world’s highest murder rate. Things are so bad that Honduran officials are considering something drastic. They want to build an experimental city to give the country a fresh start. Children frolic on a Caribbean beach near the Hondu...

Starting next Wednesday, August 1, no more running to the bank by the 15th of each month, as all tax submissions and income statement amendments must be submitted online only. The Ministeio de Hacienda (Ministry of Finance) released the information on Friday, that according to the entity, the requirement is part of the "Cero Papel" (Zero Paper) program, in which the Tax Administration requi...

It’s hard to believe that Costa Rica’s microbrew movement is just getting started. It seems like only a couple years ago that I was desperately crying out for an alternative to Imperial and Pilsen. Oh wait… that was only a couple of years ago! Today, Costa Rica’s beer aficionados are singing a much different tune. The local “beer scene” is growing quickly. Craft Brewing Company, a produ...

The Government of El Salvador will invest 70 million dollars in the modernisation of the country’s international airport, in order to make it a more efficient, profitable and environmentally friendly service. According to the President of the Autonomous Executive Port Commission (CEPA), Alberto Arene, the Government will invest in immediate improvements to include replacing the current rada...

Note: The Costa Rica Star has published about concerns in the Costa Rica Real Estate market here in the San Jose valley in the past, the interview below confirms our thoughts from an industry veteran who has been developing on the Pacific coast for many years. Randy Berg, we've interviewed you before in The Costa Rica Star and many of us here have seen your casitas and developments.  Is it ...