Investments
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...
Recap of Diplomatic Meeting Between Costa Rica and Italy
Source: Easy Diplomacy EasyDiplomacy.com Press Release - The meeting between the President of Costa Rica Luis Guillermo Solís Rivera with Italian entrepreneurs took place on Thursday 26th May at UnionCamere, on the occasion of his first visit to Italy. The goal is to foster investment opportunities in Costa Rica, which is considered one of the most competitive states in terms of corporate serv...
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...
$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 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...
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 ...
Benvenuti! Costa Rica Seeks Italian Investments
Flickr Commons Rome, May 26 (EFE). - Costa Rican President Luis Guillermo Solis on Thursday called on Italian investors to strengthen bilateral trade ties and touted the Central American country's services and medical technology sectors as areas with great potential. Solis met in Rome with Italian business leaders and later gave a press conference in which he stressed that "trade relations ...
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...
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...
The Panama Papers: Just the Tip of the Offshore Banking Iceberg
Police officers stand guard next to a company list showing the Mossack Fonseca law firm outside their office in Panama City April 12, 2016. REUTERS/Carlos Jasso Montevideo, May 20 (EFE).- The Panama Papers are "the tip of the iceberg" with respect to offshore companies, according to Panamanian financial expert Julio Aguirre, who said Friday that the massive leak of Mossack Fonseca's documents ...
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 ...
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...
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...
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...
Buy a House in Costa Rica, Become a Permanent Resident?
"All homeowners are investors at heart" is an expression often heard in certain real estate circles, and in Costa Rica this is something that extends to the process of legal immigration. In general, foreigners and their immediate family (spouse, parents and children) can apply for residency if the applicant has investments worth USD $200,000 in Costa Rica. The types of investment shou...
Major Real Estate Transaction in Manuel Antonio, Costa Rica
Manuel Antonio Beach in Costa Rica LAKELAND, FL, MAY 5, 2016 – Dean Saunders, ALC, CCIM, recognized Florida land expert and broker/founder of Coldwell Banker Commercial Saunders Real Estate (CBCSRE), is now selling land in Costa Rica and other Latin American countries. The most recent sale was a classic international marketing transaction, connecting a buyer in Indiana with a seller in Costa R...
Köszönöm! Diplomatic Agreements Between Costa Rica and Hungary
Source: rree.go.cr The Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, concluded diplomatic, economic and education agreements during his one-day official visit to Costa Rica, from where he informed Hungarian news agency MTI by telephone from San José de Costa Rica on Wednesday evening local time. 'Hungary views Costa Rica as a bridgehead for building relations with Centra...
A Stellar Inauguration Planned for Panama Canal Expansion
(CRS Archive) Panama City, May 11 (EFE).- Former U.S. President Jimmy Carter and several Latin American leaders will attend the June 26 inauguration of the expanded Panama Canal, the government of that Central American nation confirmed Wednesday. "President (Michelle) Bachelet of Chile, the presidents of Honduras (Juan Orlando Hernandez) and El Salvador (Salvador Sanchez Ceren), former Pres...
Costa Rica Will Host Major Medical Marijuana Conference
Wikimedia Commons San Jose, Costa Rica-May 5th, 2016--PROMED, the Council for the International Promotion of Costa Rica Medicine will host the Latin America Medical Cannabis Conference in Costa Rican on July 27-29th as part of ExpoMed series. PROMED is a private not-for-profit organization, which coordinates the quality control and international promotion efforts of the medical tourism indu...
More British Real Estate Buyers Interested in Costa Rica
According to RigthMove, the leading property search portal in the United Kingdom, searchers who are interested in real estate overseas have been looking up Costa Rica in the last few months. According to the company's overseas search report for April 2016, Costa Rica is among the Top Ten Trending Searches. Specifically, Costa Rica is at number six, above Argelès-sur-Mer in France and below Swed...
Eco-Friendly Real Estate in Costa Rica
Serenity Gardens Costa Rica BriefingWire.com, 5/09/2016 - For those who dream of living with nature in Costa Rica, the Serenity Gardens Eco-Village provides a unique opportunity. An eco-village is a growing trend in green living; an international community with a focus on sustainable living. In an eco-village like Serenity Gardens, like-minded people come together to live as a community co-op....
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, ...
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...
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...
Former President of Costa Rica Will Keynote Major Tech Conference
SAN FRANCISCO, April 27, 2016 /PRNewswire/ -- Nearshore Nexus 2016, the premiere outsourcing conference focused on Latin America IT Services and BPO, is being held in San Francisco, on May 11th-12th, 2016. This is the first time the conference has been hosted on the west coast, bringing to focus executive-level dialogue surrounding the opportunities, risks, and advantages of developing ...
Costa Rica Stays on U.S. Intellectual Property Watch List
Source: Wikimedia Commons Washington, D.C. – On the heels of World Intellectual Property Day, the Office of the United States Trade Representative (USTR) has released the 2016 “Special 301” Report (PDF) on the global state of intellectual property rights protection and enforcement. U.S. Trade Representative Michael Froman was joined by Members of Congress and the American business community...
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...
Venezuela Runs Out of Beer and Electricity
Wikimedia Comons Caracas, Apr 22 (EFE; beer context by The Costa Rica Star).- Residents of Venezuela are hunkering down for a long summer without beer and with diminished electricity. Venezuela's Electric Energy Minister Luis Motta Dominguez has announced the start of electricity rationing next Monday due to the drought affecting the entire country, and which will remain in effect for 40 da...
High Business: U.S. Legal Marijuana Sales Top $5 Billion
File photo Washington, Apr 20 (EFE).- Legal marijuana sales in the United States totaled nearly $5.7 billion in 2015, while more than 100,000 jobs are being created annually in that industry's medicinal and recreational segments, according to a study released Wednesday. Four states (Alaska, Colorado, Oregon and Washington) - in addition to the District of Columbia, where the U.S. capital is...
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...
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 ...
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...
How to Avoid Getting Deported From Costa Rica
Flickr Commons Getting deported from Costa Rica can be a terrifying experience, but it can be managed with skilled legal representation. Deportation is one of the most potentially worrisome situations for foreigners residing in Costa Rica. The forcible removal of a person from one nation to another is a very upsetting condition that leaves individuals completely powerless over their own liv...
British Embassy Helps Costa Rica With Research on Biomass Waste
Wikimedia Commons Cap-Net UNDP News Release - The Central American Network of Engineering Institutions (REDICA), along with the University of Costa Rica (UCR), the Euro-American Consortium and the British Embassy in Costa Rica, have been interested in the development of applied research on gasification from biomass waste from the cultivation of pineapple in Costa Rica. The project...
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...
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,...
Luxury Real Estate Project in Costa Rica Turns to Solar Energy
PuntaBocana.com At Punta Bocana, we are constantly researching new and innovative technologies that fit our commitment to realize the magical combination of luxury and sustainability. In researching renewable energy options, Punta Bocana found that its Pacific Coast location could counterbalance nearly all of its energy costs through the most advanced and innovative solar system in the world t...
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...
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 ...
Costa Rica Call Center Industry Set for Future Growth
(Wikimedia Commons) LONDON--(BUSINESS WIRE)--According to Technavio’s latest report, the global contact center market is expected to reach USD 9.7 billion by 2019, growing at a CAGR of over 9% during the forecast period. “The global contact center market has been registering a positive growth rate for the past five years, and this growth is expected to gain momentum in the coming years. Inn...




