During 2010 the Policía de Control Fiscal del Ministerio de Hacienda (Fiscal Control Police of the Ministry of Finance) seized more than 7.000 litres of whisky and almost 3.000 litre of rum, the products most entering the country illegally. Luis Alonso Bonilla, director de la Policía de Control Fiscal, says that confiscation of bootleg liquor rose 526% from 2009 to 2010. Read Article
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The problems with cellular telecommunications in Costa Rica continue, this time affecting customers of the state telecom, the Instituto Costarricense de Electricidad (ICE), “prepaid” service. Last week ICE has cut internet service from all prepaid service and without any notice. Read Article
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Near the crest of a hill on a farm named La Edda for his mother, Francisco Flores bends a knee to touch the curled, yellowed leaves of a young coffee tree, one of hundreds on a windswept ridge where coffee grew strong two decades ago. “They live, but they don’t produce,” Flores said. “I have […]
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s Venezuelan President Hugo Chavez plans to visit Colombia in the coming weeks for the full restoration of bilateral relations, trade in the border areas remains stuck seven months after Caracas briefly broke off diplomatic ties with Bogota in a row. The strongest impact of the decline in trade has been felt in the northeastern […]
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Peru’s ports remained closed Monday morning for the entry and exit of ships, despite the lifting of a tsunami warning issued Friday. Port authority officials said the continued closure is due to abnormal sea and tide conditions, adding that administrative activities are normal. Officials said the port closure would be reassessed in a few hours. […]
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No. 1 producer Chile are unlikely to suffer from Japan’s huge earthquake, as tight global supply means shipments can easily be rerouted to alternative markets, traders said on Monday. Read Article
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Industrialist Naveen Jindal led Jindal Steel and Power (JSPL) today said it will start iron ore exports from Bolivia’s El Mutun mines in next 2-3 months. “We will begin the exports in this calender year… In next 2-3 months, it will begin in smaller quantity,” JSPL Vice Chairman and Managing Director Naveen Jindal told reporters […]
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The family that controls the world’s largest meatpacker, Brazil’s JBS SA (JBSAY, JBSS3.BR), on Monday took a small step toward expanding its banking arm, but more-ambitious plans for increasing the company’s financing clout are likely to follow. On Monday, holding company J&F announced the merger of its existing banking operations, Banco JBS, with those of […]
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Mexico’s industrial output grew at its fastest pace in over a year in January, amid signs higher spending in Mexico could eventually pressure the central bank to raise interest rates. Read Article
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Tomorrow, the Colombian-Chinese consortium Airplan deliver the works in the José María Córdova.That will be a thing of the past in the terminal aéreoque criticism and discomfort of passengers and traders for alleged delays and inconveniences such as leaks, unfinished ceiling, hallways and rooms shading approach. Read Article
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The Exports of Defence of Russia reached new record in 2010 with Venezuela as one of its major customers. According to Rosoboronexport, the Russian agency in charge of brokering the sale of defense products, sales last year amounted to 8,600 million dollars. Read Article
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Costa Rica will soon launch the first carbon neutral coffee export. The presentation will take place today (Monday) at a ceremony at the Ministerio de Relaciones Exteriores (Foreign ministry) or Casa Amarilla. The coffee is produced by Cooperative COOPEDOTA and is the first of its kind in the world. The ceremony will be attended by […]
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The first contacts between both nations were Joshua and Keilor Fumero Rojas, Director of Innovation and Technology Transfer and Scientific Adviser to the Ministry of Science and Technology (MICIT), respectively. Fumero and Rojas participated in the first edition of the School of Political Science Managers, Technology and Innovation, held at the headquarters of the Economic […]
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Just a year passed since Wal-Mart Mexico assumed the reins of the operations of the chain throughout Central America. And we can now see the effects of the change. The first of those changes is the possible dropping of the Hipermás name to Wal-Mart which is part of Mexico’s aggressive investment program in Costa Rica […]
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Panamanian authorities are continuing to work on a double taxation treaty with France that would bring the country into compliance with standards set by the Organization for Economic Cooperation and Development (OECD) to avoid being included on a list of tax havens. Read Article
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Ecuador said late Friday it had suspended crude oil exports of 342,000 barrels a day as long as a tsunami threat remains in place following the major 8.8-magnitude earthquake that devastated Japan earlier in the day. Ecuador’s official oil company said it had declared “force majeure” on all crude exports and notified foreign companies that […]
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Spreading the word about the Reva has been a slow process since it rolled out onto San José’s crowded streets. But that was to be expected. The concept of electric cars is one the world has been slow to latch onto, as some consider the switch from gas pumps to electric outlets more of a […]
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Colombian President Juan Manuel Santos said Thursday that any company that pays extortion money to outlawed rebel groups will be kicked out of the country. The president’s comments come after reports of a possible or planned payment by Canadian oil firm Talisman Energy Inc. (TLM, TLM.T) to secure the release of oil workers who were […]
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Members of the PRI and demanded Pt separately, revoke the grant, investigate and initiate appropriate proceedings against those who have committed a crime by the grant of a private airport in La Paz, Baja California Sur, given the American Angelo Joseph Bravo, convicted of drug trafficking in the United States. Read Article
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Like most of the small landowners in Colombia’s lush mountainous Cauca region, Luis Garzón, 80, and his family have thrived for decades by supplying shade-grown, rainforest-friendly Arabica coffee for top foreign brands like Nespresso and Green Mountain. A sign in the center of a nearby town proclaims, “The coffee of Cauca is No. 1!” Read […]
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FOR a young farmer used to the relative intimacy of the hills of North Wales, the sheer vastness of South America’s cattle ranches were an eye-popping sight. A greater surprise was the professionalism that underpinned much of the continent’s beef-rearing enterprises. Read Article
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Telefonos de Mexico (News – Alert) (Telmex), the nation’s largest fixed line telephone company, announced plans this week to separate its business into two distinct entities, one of which will handle the conglomerate’s investments in rural and low-income areas. Read Article
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Chevron, the second largest U.S. oil company, believes that to overturn the verdict ordering it to pay 9.5 billion dollars in reparations for environmental and public health damages in Ecuador’s Amazon jungle, the best defence is a good offence. Read Article
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The Nicaraguan Association of Textile and Apparel Industry (ANITEC, for its acronym in Spanish) recently announced that during 2010 Nicaragua surpassed its annual projections of textile and apparel exports, exceeding the one billion dollar mark for the first time in history. Read Article
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Swiss Tropical Fruit Marketing is a Costa Rican company. It’s a pineapple producer and exporter that has Global Gap certification. Currently they export to Europe, South America, South Korea and Central America, and serve the local market. Although Swiss Tropical has its own brand, 80% of its production is sold to customers with other brands […]
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Mexico: An Introduction to the Video Game Market in Mariachi Land Mexico is becoming a very large video game market. With 110 million people, a strong university system, a trillion dollar economy, free trade agreements with countries housing major video game companies, and roughly half of all people under the age of 25, we at […]
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The Barbados-based Caribbean Tourism Organisation (CTO) has expressed concern over the loss of cruise business from the southern Caribbean. The CTO said Royal Caribbean International has announced plans to reposition its ship, Serenade of the Seas, from the Caribbean to Europe in the summer of 2012. Read Article
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Security for U.S. businesses conducting operations in Mexico FOX Video
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As part of government initiatives to help increase food production and decrease prices, Venezuelan Minister for Agriculture and Land, Juan Loyo, and the president of the Chinese Heilongjiang Beidahuang State Farm Business Trade Group LTD, Quian Biamo, signed an agreement to form a joint venture food company on Saturday. Read Article
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About 32 companies engaged in processing animal skins cause pollution to the environment affecting the health of residents of 15 settlements located in the district of Cerro Colorado, Arequipa, denounced the leader of the semi-Private Pachacutec, Jose Del Carpio. Read Article
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Mexico will cut tariffs on $2.4 billion worth of U.S. products after the United States agreed to end a ban on Mexican trucks crossing the border, Economy Minister Bruno Ferrari said. Read Article
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Panamanian President Ricardo Martinelli announced Thursday that he proposed to annul Law 8, which was passed on February 11 to allow strip mining nationwide with foreign participation. Read Article
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By a vote in favour of 42 of 53 of the legislators present in the Legislative Assembly on Thursday, the Free Trade Agreement with China was approved in first debate. The bill now must go to the Constitutional Court for a consult before second debate and voting can take place. Read Article
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Global X, the New York-based exchange-traded fund company known for its niche and developing-market strategies, launched the first-ever single-country ETF focused on Argentina. The ETF provides exposure to the South American country’s 20-largest companies through depositary receipts. Read Article
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Mexico and the U.S. agreed to end a ban on Mexican trucks crossing the border to operate across the United States. The agreement, announced today after a meeting by Mexican President Felipe Calderon and U.S. President Barack Obama in Washington, would lead to Mexico dropping tariffs on $2.4 billion worth of U.S. pork, cheese, corn […]
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Chilean congressional commission has found two mine owners responsible for the accident that trapped 33 men a half-mile underground for 69 days last year. The commission’s report, which is expected to be approved by the lower house on Thursday (local time), said members unanimously found Alejandro Bohn and Marcelo Kemeny responsible for the collapse that […]
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Toyota Motor Corp. said Tuesday its Brazilian unit issued a recall over the weekend to fix the fuel hose, tank and pump parts of the Corolla compact manufactured in Brazil between March 2008 and December 2010, and sold only in Brazil. Read Article
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The Government announced today that a contract valued at BZ$47,995,867.50, to be financed mostly with foreign debt, has been awarded to Cisco Construction for the upgrading of 23 miles of road in the Toledo District, from The Dump in Big Falls Village, located at Mile 14 on the Southern Highway, to the Belize-Guatemala border, less […]
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Taxi owners Mendoza achieved this morning that the government said yes to claim that keep in September: the 30% rise in the rate of travel. Although the increase is less than 30%, 29%, a sum that will make it very difficult for ordinary people to a trip. The minimum fare, ie what you pay only […]
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Nokia has moved its headquarters for Latin America to the city of Sao Paulo in Brazil. Until now, all operations in the region were controlled from the company’s office in Miami, in the US. Nokia’s president for Latin America, Olivier Puech, said that the change aims to strengthen operations in the region. Read Article
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Restrict buyers from importing products from areas where the pest is present. The Colombian Agricultural Institute (ICA), through Resolution 001 of 2011 established national phytosanitary measures to control and decrease in different fruit species the presence of fruit flies. The goal is to areas of low pest prevalence and fruit growers reduce the damage caused […]
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Argentine President Cristina Fernandez called for jailing tax evaders, cracking down on money laundering and limiting foreign ownership of land on Tuesday as part of a broad legislative agenda for this election year. She said foreign holdings of land should be limited but gave no specifics, and said the new law should not drive away […]
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Argentine President Cristina Fernandez on Tuesday urged the Congress to approve a law against money laundering as requested by the International Financial Action Group (IFAG). In this fourth government report, Fernandez warned Argentina could be punished by the IFAG if it fails to approve this law, even if “the executive power made all efforts, (and […]
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The Argentine government has taken the first step toward implementing a glacier protection law, ordering a nationwide inventory of glacial ice that will determine which areas will be put off limits to mining. President Cristina Fernandez issued a decree Tuesday ordering an extensive study of the country’s glaciers, peri-glacial areas and changes to the glaciers […]
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Scanbuy, Inc., a provider of mobile barcode solutions, has officially opened an office in Mexico. Its applications are available for download on compatible devices and as a preload on handset devices through Telcel (News – Alert), a major mobile operator in Mexico. Read Article
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SGS Industrial Services Chile, Santiago, has been assigned a 2-year contract to provide comprehensive asset integrity management and nondestructive testing services for two oil refineries in Chile. The company didn’t identify the plants. OGJ’s annual survey indicates that Chile’s state Empresa Nacional de Petroleo operates the country’s only three refineries, Anconcagua, Gregorio, and BioBio (OGJ, […]
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More details of Google’s plan to hire 6,000 new employees have come to light. It seems the search giant will focus an unusual amount of attention on Central and South America, making a special effort to step up operations in that area. Read Article
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Valladolid, Mexico – Emerson is replacing gas and steam turbine controls, as well as balance of plant (BOP) controls, at the Felipe Carrillo Puerto power plant in Valladolid. The retrofit is to for completion in April. Read Article
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Venezuela’s Attorney General on Friday accused the International Criminal Police Organization, or INTERPOL, of “creating impunity” as it relates to Venezuelan bankers removed from lists of international fugitives that Venezuela demanded be brought to justice. Read Article
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Mexico’s state oil monopoly Pemex will auction operating contracts for three mature oil fields to private companies in 2011, the first time in more than 70 years that private firms will be allowed to operate Mexican oil fields. Read Article
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A protestor held out a handful of metal dust, part of the “silvery rain” falling that day in Santa Cruz, a low-income neighbourhood on the west side of this Brazilian city, as proof of the environmental nightmare affecting the area ever since a German steel plant opened there. Read Article
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The first two months of the year showed a lower influx of tourism in the port of San Felipe, representing low sales in the retail and hotel sectors, said Roberto Ledón Perezchica. The delegate from San Felipe said that foreign tourists, Americans and residents called “snowbirds” who live in port six to eight months in […]
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Mexico’s Central Bank is worried about crop failures from bad weather and may have to raise interest rates if they poison inflation expectations, the bank’s Gov. Agustin Carstens said in a newspaper interview. Read Article
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Businesses can’t get the greenbacks they need for imports Every weekday, Ricardo Matamoros wakes up before dawn, travels to a branch of Mercantil Banco Universal in Caracas, and gets in line seeking to buy dollars. It’s a futile effort, he says. “They haven’t approved a single one of my requests during 45 days,” said Matamoros, […]
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Caracas – Deliveries of Russian air defense system S-300 to Venezuela has been delayed, but will continue, as stated by an official of Rosoboronexport, Russia’s state-owned arms export. Read Article
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Dynamic growth in Brazil and China is swelling revenues for US carmaker General Motors, the company’s South America manager, Jaime Ardila, said Thursday. Read Article
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Central bank chiefs from South American countries in the Mercosur customs union said on Friday there are heightened risks to the global economy in light of higher food prices and turmoil in Middle East, but indicated a broad regional slowdown was unlikely. Read Article
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USHUAIA, ARGENTINA – Here at the end of the Earth, just 600 miles from Antarctica, tourists hike over glaciers and flock to rocky beaches to photograph penguins and 700-pound sea lions. Read Article
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The Spanish embassy is closely following the difficulties faced by Spanish fishing companies in the port of Montevideo, some of which have decided to stop operating in Uruguay. Read Article
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Uruguay’s leading and largest fish processing company Fripur S.A. claimed in full page ads in Montevideo’s newspapers that it is the victim of a “strong media offensive” that “irresponsibly” questions the way in which it processes products that are sold both in Uruguay and overseas. Read Article
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Countries such as Brazil, Colombia, the Dominican Republic, Panama, Peru, Suriname, and Uruguay all have a positive rating outlook from Fitch, although it’s not clear which of them could be upgraded this year, the agency said in a report. Read Article
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The Mexican Miners’ Union (SNTMMSRM) reached a new two year collective agreement with Gammon Gold, ending an eight month long strike at the company’s mine in El Cubo, Guanajuato, Mexico, it was announced on February 23, 2011. Read Article
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Today, Thursday, could be a crucial day with the entering into force the Free Trade Agreement (FTA) with China. In the afternoon, Costa Rica’s legislative assembly is expected to discussion and first debate on the trade agreement. Proponent legislators say “there is a good environment” for the FTA with China and could be ratified the […]
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The Salvadoran government plans to spend some 770.5 million USD to create 143,000 jobs this year. The details of the ambitious program were announced yesterday by several ministers and the technical secretary of the presidency, Alex Segovia. Of the 770.5 million USD, 566 millions will be allocated for infrastructure projects, in the hopes of creating […]
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Environmentalists and deputies request the authorities not to grant permits for the cultivation and trade of genetically modified pineapple in the country. They warned of the possible risk that it would generate in health and in the environment. Read Article
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The Instituto del Café de Costa Rica (ICAFE) reports that more than 80% of the 2010-2011 coffee harvest ahs been sold. Given this, toasters announce shortages and higher prices. Read Article
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The Chinese footprint on the Argentine energy landscape will increase with the acquisition of an Exxon Mobil downstream unit by the company with a significant shareholding by China’s third largest state-owned oil company. Read Article
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Revalue Oldest] convert lofts the old houses of traditional neighborhoods, such as Republic, Yungay and Eighteen, it is fashionable. The projects are targeted to young professionals who value the restoration of buildings and neighborhoods with history. Read Article
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Billionaire Carlos Slim’s Grupo Carso SAB agreed to acquire a 70 percent stake in Geoprocesados SA’s Tabasco Oil Co., gaining access to the Colombian oil market as the country seeks to boost crude and natural-gas output. Read Article
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Peru will reduce its poverty rate to 30 percent by the end of the current administration thanks to the execution of a proper macroeconomic policy, Minister of Economy and Finances Ismael Benavides said Monday. Read Article
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Zurich Financial Services will acquire a 51% stake in Banco Santander’s insurance operations in Brazil, Mexico, Chile, Argentina and Uruguay, Bloomberg reports. The Swiss insurer will pay $1.67 billion for the stake. Read Article
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Argentine incumbent fixed line operator Telecom Argentina has announced that its net profit for the fourth quarter of 2010 rose 28% year-on-year to ARS512 million (USD127 million), on the back of increasing revenue from broadband internet and mobile services. Read Article
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The anti-tobacco legislation applied in Panama last year, which increased the price of cigarettes, had led to an increase in smuggling of tobacco products from Costa Rica. Read Article
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A trade delegation from Panama will arrive in Nicaragua this coming Thursday, Feb, 24, to explore partnerships with farmers and exporters and provide momentum to the liberal free trade agreement signed two years ago, industry sources said. Read Article
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PepsiCo has formed partnership with the Inter-American Development Bank (IDB), a multilateral provider of development financing, to drive social and economic growth in 26 countries across the Latin America and the Caribbean. Read Article
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American investment bank Merrill Lynch sees Peru’s impressive GDP growth continuing in 2011 with an expected trade surplus of nearly US$8 billion. In a recent report, Bank of America Merrill Lynch noted that December’s monthly economic activity indicator expanded 8.9% year on year as a whole. Read Article
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German conglomerate Bayer AG (BAYRY, BAYN.XE) is expecting Brazil’s pharmaceutical industry to grow to $27 billion by 2015 from $ 15 billion in 2008, the company said Tuesday in a press release. Read Article
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U.S. President Barack Obama plans to offer new financing for joint infrastructure projects between U.S. and Brazilian companies when he visits Brazil next month, sources with knowledge of the situation told Reuters. Read Article
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The U.S. Supreme Court on Tuesday rejected Argentina’s challenge to a ruling that froze some of its U.S. assets in order to satisfy court awards to hedge funds seeking to collect on the country’s defaulted bonds. Read Article
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The disease most feared by citrus growers worldwide is now in Costa Rica. At least 5 trees north of Alajuela tested positive for the presence of “Yellow Dragon. ” The State Phytosanitary Service confirmed the detection after a laboratory diagnosis. Trees with symptoms will be cut and efforts to eradicate the disease will be made […]
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The Federación Nacional de Porteadores (Fenapo) announced on Monday its plans for the roadblocks by “porteadores” or illegal taxis, that will be countrywide. The plan, as explained by Fenapo, is start the protest at 5am Wednesday… Read Article
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The Senate today became a project by the Act which provides that the sale of so-called drug counter, such as antacids, digestive and analgesics, among other products, must be dispensed only at pharmacies and not in supermarkets, kiosks and stores. The new law repeals the Decree 2284 of 1991, which had enabled the sale of […]
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Hugo Chavez’s government, through the Venezuelan Prosecutor, raise a complaint with the International Police (Interpol) for its inaction to stop “corrupt bankers” to order red ‘search and seizure. ” According to the Attorney General Luisa Ortega Díaz, 40% of requests for arrest issued by Interpol Venezuela have been blocked on the grounds that it is […]
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Wal-Mart de Mexico SA says its fourth-quarter profit rose 14 percent thanks to its new stores in Central America. The Mexican unit of Wal-Mart Stores Inc. says in an earnings report that net income rose to 6.5 billion pesos ($539 million) in the fourth quarter, up from 5.74 billion pesos during the same period in […]
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Domestic imports of fructose (sugar substitute), mainly by soft drink bottlers, recorded an average growth of 144% over the past seven years, data show Tariff Information System of the Ministry of Economy. In 2010 imports of fructose corn syrup sweetener, they were 132% higher than in 2009. Read Article
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Mexico’s gross domestic product expanded last year at the fastest pace in a decade as Latin America’s second-biggest economy recovered from a 2009 recession provoked by the global financial crisis. Read Article
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The business climate in Bolivia and Venezuela dropped again between October and January 2010, according to the Brazilian Center for Economic Studies Getulio Vargas Foundation (FGV) and the Institute for Economic Studies (IFO) of the University of Munich, Germany. Read Article
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Again the dollar has hit sub-bottom measured against a very limited global currency, the Costa Rica colon, resulting in business losses, government losses and excessive costs of living on all but the basics. Read Article
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A group of environmentalists have deployed actions against the use of pesticides in Costa Rica, with publicity events in the local agricultural (famers) markets in Zaporta and Hatillo, held this Sunday. According to studies by the Regional de Estudios en Sustancias Tóxicas (IRET) – Institute for Studies on Toxic Substances, shows that the use of […]
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In a joint operation of the Armed Forces and National Police was located (Saturday) and appeared 13 dredges used in the illegal extraction of gold in Madre de Dios. So far, seven of these vessels were destroyed by personnel of the Navy of Peru, while in the next few hours will proceed in the same […]
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The maxim that every cloud has a silver lining was never truer than for Mexico’s Mastretta car company, which gained world attention after being ridiculed on a British television show. Read Article
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Carlos Slim pulled advertising from Mexico’s top broadcaster after ad rates spiked by 20 percent, a Slim spokesman said on Sunday, in a deepening rivalry between two of the country’s top tycoons. But while Slim’s enterprises say they would have had to pay higher prices to advertise with Televisa (TV.N), a spokesman for the media […]
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Yandi Condado and a small group of farmers in the southern Mexican state of Puebla decided a few years ago to process their peanuts as an economic boost — and to defend this traditional crop against the advances of more profitable options. Read Article
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Mexican pilot Armando Arauz is preparing the thick pile of documents and exams he needs to work for an airline in China. “The Chinese are very exacting and demanding,” the 41-year-old pilot, who worked for the private Mexicana de Aviación airline until it suspended operations due to financial problems last August, told IPS. “They require […]
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Police in Panama have clashed with dozens of indigenous protesters trying to prevent copper mining on their ancestral lands. Members of the Guaymi indigenous group occupied a bridge on a major highway on the outskirts of Panama City. Read Article
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Mexico’s improving economic prospects, coupled with low inflation, are winning the country a second look from international investors and fund managers. Investors see potential in Mexico’s services sector and in enticing more companies to market, and are also bullish about new financial tools which could send billions of dollars into infrastructure and private equity deals. […]
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Colombia’s textile and apparel makers saw sales plummet 13% to $6.1 billion last year from $7 billion in 2008. The loss of manufacturing jobs to cheap Chinese imports is raising howls of protest across Latin America. Read Article
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Colombia’s truck drivers will lift their road blockades after reaching a breakthrough deal with the government, reported newspaper El Espectador. The 15-day strike came to an end after an intermediation from vice president Angelino Garzón with the Colombian Truck Drivers Association (ACC), the story reported. Read Article
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With 50,000 daily visitors arriving in over 20,000 cars, gaining access to the Santiago International Airport can take over 15 minutes through traffic. To address this problem, MOP and the road construction group Costanera Norte have initiated a series of projects to improve surrounding roads and airport access points. Read Article
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