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76% of businesses report losses due to the strike

As a result of the national strike - today in it's 50th day and which continues to be active,  76% of retailers report economic losses, as detailed in a stud by the Chamber of Commerce of Costa Rica (CCCR). The strike by the public sector...

Guatemala Business React to the Nicaragua Crisis

One of the decisions taken by Guatemalan businessmen with interests in Nicaragua is to suspend new investments until the situation in the country is normalized. Due to the social and political situation that the country has been experiencing for more than three months, Guatemalan investors...

Hard Rock Café Soon To Open in Managua

With an investment of US$2.8 million dollars, the Hard Rock Café will open its doors in Nicaragua’s capital city of Managua Wednesday, April 18. The Hard Rock Café Managua will be located in the Galerias de Santo Domingo. The Nicaragua opening followings franchise operations in...

Juan Valdez Stirs Competition With Nicaragua Arrival

Colombia’s Juan Valdez coffee brand is arriving in Nicaragua. While Nicaraguan businessmen dismiss the brand is a threat to Nicaraguan coffee, they do admit that there will be a strong competition. “In today’s globalized markets it is common for competitors to appear to us from...

Canadian Capital Fuels Colombian Cannabis Boom

(Ozy.com) Decades have passed since the bulk of marijuana cultivation in the Americas shifted from Colombia up to Mexico. But the tides are turning again. This time, suited businesspeople, not drug cartels, are betting on a lucrative Colombian weed crop, bound for markets around...

Colombia peso boosted by weak dollar and rising oil prices

The US dollar has lost more than 5% of its value against Colombia’s peso over the past month, partly because of an increase in price of Colombia’s primary export product, oil. The peso has not just increased in value against the dollar. The Colombian currency...

Nicaragua Cocoa Production to Grow 25% in 2018

The cacao producers union is planning to produce this year close to 1,500 tons of cocoa, 25% more than the production recorded at the close of 2017. Last year the export value went down 4%, due to unfavorable conditions in international prices, but the export...

No, Capitalism Is Not Ruining Your Christmas

By Bill Wirtz. Glowing Christmas lights fill the cold streets of medieval European cities with little wooden booths selling steaming hot wine and cinnamon biscuits. However, the traditional look and idyllic atmosphere seem to be threatened by the evil of modern-day capitalism. That is, at...

Growing Call Center Market in Nicaragua

Concentrix announced that the company will be expanding its operations in Managua, where it has operated a call center since 2011. Photo from El19digital.com The announcement was made by Vice President Rosario Murillo, who pointed out that the new Concentrix offices will be located in the...

What and How to Sell to China

Tropical fruits and coffee are two of the products with opportunities in a market with great potential for growth, but challenging at the same time for Costa Rica and Central American entrepreneurs. Former Costa Rican ambassador to China, Marco Vinicio Ruiz, shared his experience with...

More Nicaraguan Coffee in Japan

Nicaraguan coffee Exports in the first eleven months of the 2016/17 harvest totaled US$17.6 million, 53% more than anything sold to the Asian country in the 2015/16 cycle. One of the main benefits of exporting grain to Japan is that the average price paid for coffee...

The Investment Climate in Nicaragua According to the US

Nicaragua has emerged as a fast-paced growing economy in the Central American isthmus. The US government has highlighted tax incentives and public-private sector dialogue, but warns that deficiencies in the rule of law, and extensive executive control can create significant challenges for those doing business...

Amazon Web Services Opens Office in Bogotá

TODAY COLOMBIA – Amazon Web Services has opened its first office in Bogotá. This makes Colombia home to another Latin American office established by the online retail giant’s cloud services arm, with the first regional location established previously in São Paulo, Brazil. The Seattle-based company reportedly...

Costa Rica Marriott Hotels Has New Owners

Marriott Costa Rica. Photo 5starbed.com The Grupo Cuestamoras announced the sale of three of its hotel properties in Costa Rica, the Marriott Los Suenos, in Playa Herradura, the Marriott Costa Rica, in Belen, Heredia, and the Hyatt Place San Jose, in Pinares de Curridabat. In the...

TOTAL Sells It’s Gas Stations in Costa Rica To Panama’s Delta

Q COSTA RICA – Panama’s Delta reports the purchase of Costa Rica’s Total gas stations. According to the information provided by Delta, the purchase involves 19 gasoline stations across the country. Delta did not specify in the March 30 notice what it paid the...

U.S. Companies May Be Forced To Shut Down Costa Rica Call Centers

Q COSTA RICA - A bill in the U.S. Congress aims to force call centers from nations like Costa Rica to return to the United States, worrying employers and workers, according to CNN. The CNN Español report says the bill, introduced by a group of...

Bogota Hit by Xenophobic Attacks on Chinese Merchants

Downtown Bogota’s San Victorino has seen a spate of recent attacks on Chinese merchants (Wikimedia).TODAY COLOMBIA – In the heart of downtown Bogotá is the sector known as San Victorino. There the inhabitants of the Colombian capital can find all kinds of imported products...

Panama Farmers Give away Tomatoes to Protest Over Imports

Panamanian Farmers Give away Tomatoes to Protest Over Imports TODAY PANAMA (Prensa Latina) Growers of tomatoes in the western province of Chiriqui started an unprecedented protest and gave away their products, as a response to the policies implemented by the government. The farmers told the media...

Call Center Business Loses Strength in Panama

Staff shortages affect call centers in Panama TODAY PANAMA – The number of jobs in call center companies fell by 37% between 2012 and 2016, due to the difficulty in finding skilled labor for this activity. Limited supply of staff with the skills needed to work...

Was Ray Kroc the Founder of McDonald’s or Not?

(Rico’s Journal) Persistence. Being a great entrepreneur is not always the same thing as being the inventor of a new product or service, or even about being a great “manager” who gets a business off the ground. Often the greatest entrepreneurs are the ones...

Tyco Ventures Into the Central American Market

QBUSINESS - The multinational security solutions company has acquired the Costa Rican firm Circuito, with a plan to expand its business in the region, focu From a statement issued by Tyco: Tyco announced today that it has acquired Circuito SA, a leading firm in electrical design...

Costa Rica: Crisis of Confidence In The Commercial Sector

(QCOSTARICA) - The index measuring confidence in the commercial sector in the second quarter of the year recorded the lowest level registered since it began in 2008, during the global financial crisis From a statement issued by the Chamber of Commerce in Costa Rica: The Business...

Program Seeks To Reduce Waiting Time For Travelers To The United States

(qCOSTARICA) Travelling to the United States from Costa Rica by air, especially for business, could be streamlined if the global entry program being discussed by the U.S. and Costa Rica embassies, is adopted. Through digital devices, Costa Ricans can expedite customs formalities, saving time. Under the...

India Trade Mission to Costa Rica

(qCOSTARICA)  Ten Indian companies will be exhibiting their products to local companies, in an event being held on August 11th and 12th. The event, that is being held in Zapote, is organized by the Costa Rican Chamber of Importers, Distributors and Representatives (Cámara Costarricense de...

No Changes Foreseen to Costa Rica’s “Zona Francas”

(qCOSTARICA) Once again the Presidency (Casa Presidencial) has spoken out to calm investors denying the insinuations of a Deputy Minister related to opening up the discussion on "zona franacas" - free trade zone regime. According to an article in Crhoy.com, the Deputy Minister of...

Costa Rica Exports Fall and Rise

(QCOSTARICA) The exit of Intel manufacturing operations in Costa Rica caused a dramatic fall in the exports from free trade zones in the last year.  However, discounting the electronics components sector, imports actually rose 12.7% in the same time period. The total exports from free...

More Tourist Projects In The Central Pacific

(QCOSTARICA) Punta Leona, a well established 300 hectate (750 acre) beach community in the Tarcoles tourist district of the Central Pacific, between Puntarenas and Playa Jaco, will be getting new projects that includes commercial and residential buildings and aparetment towers. Grupo Leumi and Nisa del...

Costa Rica Announces US$93 Million in Soft Loans

(QCOSTARICA) - Six financial institutions have been authorized to provide loans under the conditions imposed by the Development Bank, with interest rates of 3% in dollars and in line with the passive base rate in colones. Welmer Ramos, chairman of the Governing Board of the...

How Starbucks, Juan Valdez and Britt Compete For Consumers in Costa Rica

(qCOSTARICA) Three well known coffee names are betting their future in Costa Rica on a consumer that is knowledgeable, dedicated and willing to pay for a specific coffee experience. The companies are so confident of the market that all three brands will be increasing...

Canada’s Hangar Expands Its Facilities In Costa RIca And Hire 130

(QCOSTARICA) Working from Costa Rica for clients in Calgary, Toronto, Los Angeles, Chicago, Dallas, San Francisco, Nashville, New York and London, Hangar, the Canadian digital firm specializing the production of digital services, announced an expansion of its facilities located in the Zona Franca Metropolitana,...

Yanber Asks Creditors For 10 Year Suspension of Payments To Avoid Bankruptcy

(QCOSTARICA) The manufacturer of flexible packaging and films,  Corporación Yanber, which has a presence in several countries in the region - Costa Rica - Nicaragua - Panama - Guatemala,  and in Puerto Rico and Colombia, has filed for an agreement of suspension of payments in...

Black Clouds For Costa Rica Industry

(QCOSTARICA) While PYMEs (Pequeña y Mediana Empresa) - Small and Medium Businesses - show some optimism, large industries in Costa Rica are more realistic and more cautious with their growth expectations. From a statement issued by the Camara de Industrias de Costa Rica (CICR) - ...

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