Investments

Costa Rica Real Estate Gets NFC Smartphone Technology

Wikimedia Commons OCEAN CITY, NEW JERSEY (PRWEB) MARCH 29, 2016 - The internet has already reshaped the way the Real Estate industry conducts business. In order to remain competitive in today’s Real Estate market, it is imperative that Real Estate professionals take the steps to make their business model mobile friendly. Keeping the current technological trends in mind, RealTimeRental, a cloud ...

Aerospace Firm in Costa Rica Goes 100% Solar

Source: Ad Astra Rocket Co. – Ad Astra Rocket Company, Costa Rica's most renowned aerospace firm, is currently generating 100% of its operating power requirement with renewable solar energy. The milestone was achieved in mid-March as the company’s new 76.86 kW solar array was formally connected to the facility and certified by representatives from Costa Rica’s electric power utility (ICE)....

New Costa Rica Solar Energy Program to Debut in April

Wikimedia Commons San Rafael, Alajuela, Costa Rica, March 21, 2016 --(PR.com)-- On Thursday,  the Public Services Regulatory Authority (Spanish acronym: ARESEP) held its final public meeting on the pricing structure for the new distributed solar program. It is scheduled to open with compliance of the power companies in Costa Rica April 7th, 2016. I.C.E., the main power company, and Acesolar, t...

Costa Rica Trade to be Highlighted at Global Conference

Wikimedia Commons Miami, Florida. March 2016. Minority Chamber of Commerce announces a new Speaker confirmation at the Global Conference, “Doing Business with the World Miami 2016” on March 30 at the Renaissance Banquet Hall located at 5910 SW 8 Street in Miami. Mr. Zacarías Ayub Rojas, Trade Representative from Costa Rica will be attending, he will present an overview about opportunities and po...

McDonald’s New Fancy Burger Coming to Costa Rica

Source: McDonald's MONTEVIDEO, Uruguay--(BUSINESS WIRE) -- Arcos Dorados, the world’s largest McDonald’s franchisee operating in Costa Rica and 19 other countries in Latin America and the Caribbean, has unveiled a new premium burger experience, the ClubHouse, which is sure to be a customer favorite. The new creation is part of McDonald’s Signature Collection. It features thick-cut smoked ba...

panama canal Mark Your Calendars: Expanded Panama Canal Inaugurates June 26

Panama Canal Panama City, Mar 23 (EFE).- The long-delayed inauguration of the expanded Panama Canal will take place on June 26, the administrator of the interoceanic waterway said Wednesday. "After passing some critical tests this past weekend, we concluded that the inauguration date would be June 26 of this year," Panama Canal Authority, or ACP, Administrator Jorge Quijano said. Panaman...

British Social Enterprise Supports a Sustainable Costa Rica

Nutrivida By Anne Salter. SEUK UK Social Enterprise News Release - As a part of the British Embassy programme ‘Exporting Social Enterprises’, in February 2016 Social Enterprise UK traveled to San Jose to represent the UK social enterprise sector in Costa Rica. The week included conferences, meetings with government, press, charities and social enterprises to discuss the opportunities for the mo...

A Burgeoning Aerospace Industry in Costa Rica

Franklin Chang, Ad Astra Rocket Company San Jose, March 2016. Aiming to put Costa Rica on the world map of aerospace industry, a group of 25 companies in sectors such as electronics, metalworking and specialized services came together to create the Costa Rica Aerospace Cluster (CRAC). This group seeks to position the country as a solution provider for the international aerospace industry. T...

panama canal Solid Growth Expected for Panama’s Economy After Canal Expansion

Panama Canal Panama City, Mar 19 (EFE).- Panama's economy will grow 6.1 percent in 2016 and as much as 7 percent in the coming years thanks to the expansion of the canal and low fuel costs, an International Monetary Fund delegation said in this capital. Panama has boasted the region's highest average growth rates over the past decade and will be able to continue expanding at a clip of betwe...

More Global Banks Expected to Exit Costa Rica

FreeStockPhotos.biz SAO PAULO--(BUSINESS WIRE)--Global banks' departures from Latin America will go on as they attempt to improve their return on capital by changing strategies and lowering their exposure to the risk presented in some Latin American markets, Fitch Ratings says. Citigroup's Brazilian and Argentinean retail banking operations are the latest units for sale that exemplify this tre...

Costa Rica Observes Business Education in Singapore

Source: NUS Earlier this month, the National University of Singapore (NUS) welcomed Costa Rica's Chancellor and Minister of Foreign Affairs Manuel González Sanz. Minister Gonzalez was in Singapore on an official visit to the NUS start-up incubator, Blk71. Minister González was hosted by NUS Enterprise CEO Dr Lily Chan, who gave a presentation on Blk71’s inception and the entrepreneurial pro...

World Bank Proposes $65M for Disaster Recovery in Costa Rica

Source: The World Bank Over the next three years, the World Bank is proposing the establishment of a $65 million Catastrophe Deferred Draw Down Option (CAT DDO) for Costa Rica. This CAT DDO is part of the World Bank's Disaster Risk Management scope. According to the World Bank, the overall development objective of the CAT DDO funding is to enhance the capacity of the government of Costa Rica to...

Hotels in Costa Rica Sheraton and Westin Costa Rica Could be Acquired by Chinese Firm

The Westin in Playa Conchal New York, Mar 14 (EFE).- Starwood Hotels & Resorts Worldwide, Inc., owner of the Sheraton and Westin chains, said Monday it received an unsolicited $12.8 billion takeover bid from a consortium led by Chinese insurance company Anbang. In Costa Rica, Starwood operates the all-inclusive Westin Golf Resort & Spa in Playa Conchal, Cabo Velas, province of Guana...

Costa Rica Data Communications Backhaul Gets Major Upgrade

NAPERVILLE, Ill.--(BUSINESS WIRE)--Coriant, a global supplier of SDN-enabled end-to-end transport networking solutions, today announced that Red Centroamericana de Telecomunicaciones (REDCA), a provider of carrier neutral telecommunications services in Central America, has deployed the Coriant® hiT 7300 Multi-Haul Transport Platform to cost-efficiently scale its regional transport network and supp...

Nosara, Guanacaste HGTV Films Beachfront Real Estate Show in Costa Rica

Beach house in Costa Rica United States cable network Home & Garden Television, better known for HGTV, chose Costa Rica for an episode of its acclaimed Beachfront Bargain Hunt reality show. Episode 3 of Season 10 takes place in Playa Nosara, a coastal community in the province of Guanacaste that is part of the Gold Coast beaches of Costa Rica.   The title of the episode is No Sh...

UN Calls For Sustainability in Costa Rica’s Pineapple Industry

Source: UNDP United Nations Development Programme Press Release - One of the world’s biggest pineapple producing countries – Costa Rica – has officially adopted a widely endorsed action plan to tackle serious social and environmental concerns in this critical sector, worth US$ 800 million to the national economy. Agrochemical run-off into water sources is a key issue that the plan will targ...

Money Laundering in Costa Rica is of Major Concern for the U.S.

The United States Department of State submitted the International Narcotics Control Strategy Report (INCSR) to Congress earlier this week, and it included an unflattering report of Costa Rica as a haven for laundering illicit proceeds from drug trafficking and terrorism.   According to the U.S. Department of State:   The two-volume report offers a comprehensive assessment of th...

panama canal All Set for Testing of the New Panama Canal Locks

Panama Canal Panama City, Mar 1 (EFE).- GUPC, the consortium building the new Panama Canal locks, said that in the next two months it would conduct more than 2,000 trials in the Pacific and Caribbean sectors of the expanded waterway, focusing on gates, valves, electric power and control systems. Some systems are already being operated from the control towers and the buildings where machines...

Renewable Energy Fund Based in Costa Rica Expands to Jamaica

Solar Energy Park in Guanacaste, Costa Rica Palm Beach, FL, February 25, 2016 --(PR.com)-- Sun Fund Americas, SRL, a renewable energy development company headquartered in Liberia, Guanacaste, Costa Rica, and concentrating on the Caribbean and Central American markets has signed a 20mw Solar Power Purchase Agreement in the island nation of Jamaica. The project represents an investment of $50 mi...

Major Costa Rica Real Estate Firms Announce Partnership

Source: Palms Real Estate Costa Rica San Jose, Costa Rica, February 25, 2016 --(PR.com)-- With the announcement of a new strategic partnership, two of the top luxury real estate firms in Costa Rica have joined forces to offer their clients a broader portfolio of quality properties and services in Costa Rica. Palms International Realty, based near Los Suenos Resort and in Guanacaste, and LX Cos...

Eco-Friendly Construction in Tamarindo Beach, Costa Rica

In Costa Rica, eco-friendly and sustainable construction is a 21st century concept that has undergone formalization over the last few years. As previously reported by The Costa Rica Star, the Green Building Council of Costa Rica (GBC-CR) adopted the EDGE green building certification system for both residential and commercial structures in May 2015. Costa Rica was the first Latin American nation t...

Canadian Fair Trade Event Features Coffee from Costa Rica

Pixabay Public Domain Coffee responsibly grown in a rain forest farm in Costa Rica will be showcased by a major Ontario university. York University’s annual fair trade fair will take place Wednesday, Feb. 24 in the Bear Pit near Central Square from 10am to 4pm. The fair will feature a range of fair trade products including arts and crafts, coffee and tea, chocolate, t-shirts and more. In ad...

Foreign Investors Watch Brazil as Real Estate Market Crashes

Rio de Janeiro Sao Paulo, Feb 16 (EFE).- Real estate prices fell between 15 percent and 20 percent in Brazil last year and the sector will remain "under pressure" until mid-2017, credit rating agency Moody's said Tuesday. Brazil's real estate industry has been in a cyclical downturn since 2012, with the slump coming after a period of rapid growth, Moody's said. The downturn has intensifi...

Costa Rica OECD OECD: Costa Rica Must Swiftly Implement Tax Reform

OECD News Release - 15/02/16 - Costa Rica has made impressive economic, social and environmental progress, but further institutional and policy reforms will be necessary to ensure stronger and more inclusive growth, according to the first-ever OECD Economic Assessment of Costa Rica. ‌ The Assessment, presented in San José today by OECD Secretary-General Angel Gurría and Costa Rican President L...

Ingram Micro Opens Second Facility in Costa Rica

Ingram Micro CINDE News Release - San Jose, Costa Rica. US based Ingram Micro Inc. officially opened its shared services center and its second facility in Costa Rica. It began operations with 135 employees but due to the increase in functions, languages and geographies forecast to serve, the company projects to double that number in the coming months. The inauguration took place last Thurs...

President of Costa Rica Welcomes UAE Foreign Affairs Dignitary

Source: Presidencia de Costa Rica Emirates News Agency Press Release - SAN JOSE, Costa Rica, 13th February, 2016 (WAM) -- President of Costa Rica Luis Guillermo Solis, yesterday received H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation. The two sides discussed cooperation and ways to enhance it in the best interest of the two countries. Dur...

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 ...

Cisco Signs Major Tech Agreement With Costa Rica

Ana Helena Chacon Echeverria, Vice President of the Republic of Costa Rica witnessed the signing of the document. Source: Cisco Cisco Press Release - SAN JOSE, Costa Rica 11 February 2016 – In order to exchange information and share best practices to support the digital agenda for Costa Rica, the Telecommunications Vice Ministry, a specialized unit from MICITT (Ministerio de Ciencia Tecnología...

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...

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...

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 ...

Costa Rica Investment Promotion Agency 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....

Costa Rica Will Address the Universal Access to Broadband Summit

Wikimedia Commons BOGOTA--(BUSINESS WIRE)--The Dynamic Spectrum Alliance has announced its first confirmed speakers for its annual Global Summit, which will be held in Bogota, Colombia (April 26-28 2016). A recent report published by the International Telecommunications Union (ITU), titled “Working Together to Connect the World by 2020” notes that only 3.2 billion people are online, while 4.2 ...

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...

Piping for geothermal energy snake through dry forest around Rincon de la Vieja Volcano Costa Rica is Part of the International Geothermal Showcase

Miravalles geothermal power plant WASHINGTON--(BUSINESS WIRE)--With demand for clean electricity on the rise, international attention has turned to geothermal energy with a highlight being the declaration of 38 countries forming the Global Geothermal Alliance at the Paris Climate Conference. Building on this momentum, the Geothermal Energy Association's (GEA) U.S. and International Geothermal ...

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...

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...

New Oceanfront Real Estate Project in Costa Rica to Debut in 2017

PuntaBocana.com (PRWEB) January 28, 2016 - Architect Abraham Valenzuela of Costa Rica talks about his latest project: To properly describe the grandeur of the landscape and the extraordinary potential of the Bocana site, we needed to find a name that would describe both its beauty and nobility. We felt that we needed to honor the first indigenous civilizations that inhabited the area and di...

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...

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...