Tuesday, 20 October 2020
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Costa Rica Scores Above The Regional and World Averages In Economic Freedom

Costa Rica’s economic freedom score is 65.3, making its economy the 61st freest of 180 countries in the 2019 Index of Economic Freedom. The report, prepared by The Heritage Foundation, measures components such as respect for private property, operation of state entities, taxes and market...

Court rejects Aldesa’s appeal against ruling for judicial intervention

Aldesa Corporación de Inversiones will have to explore other possibilities to reorganize the payment to its investors and avoid bankruptcy, after reporting illiquidity problems that affect their real estate project business. On August 7, the Tribunal Segundo de Apelación Civil de San José (Second Court...

Basic Passive Rate Reaches 2015 Levels

Because savers in Costa Rica have moved their money to longer terms, to avoid an increase in income tax, the Basic Passive Rate rose to 6.65%, a level not recorded since August 2015. According to data published by the Banco Central de Costa Rica (BCCR)...

Basic Rate Keeps Going Up

The basic interest rate (Tasa básica pasiva) increased to 6.55%, a level that had not been recorded for four years, while the effective interest rate (Tasa efectiva dólares - TED) in U.S. dollars also increased, in this case to 3.14%. According to data published by...

Javier Chaves: No one is going to lose their money!

On leaving the Goicoechea (San Jose) courthouse on Tuesday, the president of Aldesa, Javier Chaves, rejected the charges presented against by the Ministerio Publico (Public Prosecutor) following the complaint of four clients and told the waiting press that "having liquidity problems is not the...

Was Aldesa A Total Con?

Rico's TICO BULL (OPINION) The headline this Tuesday morning by the Diario Extra, the self-declared most read newspaper in the country, reads: "Javier Chaves habría ideado plan para estafar a inversionistas" - Javier Chaves had devised a plan to defraud investors. The article written by...

President of Aldesa Arrested, OIJ Raids Offices and Homes

The president of Aldesa, Javier Chaves Bolaños, was arrested after the Prosecutor's Office for Economic, Tax, Customs and Intellectual Property ordered his transfer from the company's facilities in Curridabat, to the Tribunales de San José (San Jose Courts). At 3:12 pm, the businessman was escorted...

President of Aldesa Insists He Will Repay Investors In Full

The president of Aldesa, Javier Chaves, said he will repay in full - interest and principal - the 550 investors who invested US$200 million in his company. Among the group of investors are the savings funds of 32 'worker's unions' that could affect the savings...

Sugeval opens investigation against Aldesa Stock Exchange

The Superintendencia General de Valores (Sugeval) - General Securities Superintendency - initiated an administrative sanction procedure against Aldesa Puesto de Bolsa. The supervising entity opened the investigation on May 20, but the measure wasn't publicly communicated until May 24, by María Luisa Fernández Garita, head...

Nicaraguan businessmen set their eyes on Costa Rica

The owners of the Runway, NK Collection and Todo Jeans stores in Nicaragua plan to open at least five stores in Costa Rica over the next five years. The first step was taken when they inaugurated, on April 25, their first point of sale under...

‘It Starts With a Coffee’: How Conversation Can Help Investors Avoid Pitfalls in Costa Rica

Costa Rica’s easygoing lifestyle and laid-back, “pura vida” vibe has been a godsend for tourism, but it has sometimes had a negative side effect: turning off other investors accustomed to a more expedient way of doing business. It doesn’t have to be that way, says...

Costa Rica Enters World Competition For Investments In Tourism

Costa Rica officially enters the world competition for the attraction of investment in tourism, holding a specialized meeting on the matter, on November 13 and 14, at the Real Continental Hotel, that will be attended by high-level entrepreneurs from Asia, Middle East, and America. The...

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