Archive for October, 2008
Friday, October 24th, 2008
New government infrastructure developments in the works in southern Costa Rica are about to turn an isolated patch of jungle into a land of million-dollar properties.
All of this development means one thing to investors: opportunities for huge profits.
Right now, Costa Rica’s southern zone presents a perfect opportunity for pioneer investing; buy before an apparently isolated region is opened up to everyone else.
Infrastructure development drives real estate prices, it’s a fact. This is particularly so when accessibility is increased within an already established and growing market. Costa Rica has proven its ability to attract tourists and real estate investors to areas close to international airports. I don’t expect the southern zone in Costa Rica to be any different. (more…)
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Friday, October 24th, 2008
Private sector employees in Costa Rica could see their wages rise 7 percent next year after the National Salary Council approved its biannual adjustment this week.
The council made up of the country’s principal business association, labor leaders and government, with three representatives from each passed the increase in a 6-3 vote, with labor opposing.
Union leaders last week proposed a 9.08 percent increase, and added on other adjustments that amounted to a 12-to-16 percent total raise, depending on the worker’s sector and skill level.
On Monday, the Union of Private Sector Chambers and Associations, which represents 42 private business chambers, made a bid for a 6 percent hike.
The Labor Ministry on Wednesday proposed 7 percent and, during negotiations that followed, drummed up support from the business camp but failed to convince the unions, according to ministry spokesman Geovanny Díaz.
The lowest wages in the private and public sectors are adjusted separately every six months, to keep pace with the rise in cost of living.
Inflation has surged 15.77 percent during the past 12 months, the highest year-over-year increase since 1998, according to the National Statistics and Census Institute.
Negotiations involving public sector salaries are expected in the coming weeks.
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Thursday, October 23rd, 2008
Mexico and Costa Rica have operated under a North American Free Trade agreement for thirteen years, and their bilateral trade has almost doubled each and every year in those years. Mexico’s trade with Costa Rica is now eleven times more than it was in 1995.
Mexico has now announced that it is investing more than US$400 million in Costa Rica building further on this well stabilized trade agreement.
The emphasis is on finance, food communications and construction industries.
More monetary support for Costa Rica’s construction efforts will inevitably lead to enhanced telecommunications, roads, and an overall improvement to Costa Rica’s transportation systems.
This added boost to the economy has to be good for Costa Rica’s real estate market
since an increased construction budget means Costa Rica real estate will become even more desirable.
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Thursday, October 23rd, 2008
Summer 2009 Could Mean Lights Out for Parts of Costa Rica.
It is hard for me to understand how anyone could support monopolies or even think of them to be anything but big bullies. I grew up in a city where they were considered The Bad Guy – the local power and gas monopoly was hated by all for its unfair and unregulated prices, and was eventually eliminated in my teens – and consumers reveled in their right to choose service providers.
With serial rate increases and continually poor service, the Costa Rican Electricity Institute (ICE) is the biggest offender here in Costa Rica. Ostensibly, the Public Services Regulatory Authority (Aresep) governs ICE’s actions, but in practice, ICE does what it pleases. If ICE wants a rate increase, it demands that Aresep approve it. If Aresep disagrees with the percentage increase or refuses to approve any increase at all, ICE simply shuts off the power. (more…)
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Thursday, October 23rd, 2008
The announcement that former Costa Rican Vice President Laura Chinchilla will seek election to the presidency in 2010 indicates that the country “has matured and is ready” to have a woman as head of state, according to some analysts.
Chinchilla, who has the support of President Óscar Arias, stepped down as vice president and justice minister on Oct. 8 to compete in the governing National Liberation Party’s (PLN) primary elections. By law, she had to give up public office by January 2009 in order to be eligible to become a presidential nominee.
Political observers say that her likely opponents within the PLN are San José Mayor Johnny Araya, and former security minister Fernando Berrocal, who has also resigned.
But Arias has already said that he would prefer to hand over his presidential sash to a woman. (more…)
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Thursday, October 23rd, 2008
Costa Rica is Spanish for rich coast. With that said a person can expect this place to be the ideal tropical paradise.A Costa Rica vacation shows you nature at its purest and finest. The simple and humble country has emerged as one of the top vacation destinations in the world because it does not rely on manufactured entertainment and goodness to keep tourists preoccupied. In other words, a Costa Rica in your itinerary. (more…)
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Thursday, October 23rd, 2008
Costa Rica has to improve its ports to meet international standards of security by 2012 if it wants to continue exporting to the United States.
The security measures are for all ports in the region, that must include x-ray equipment to guarantee “safe cargo”.
Otto Noak, executive director of the Comisión Centroamericana de Transporte Marítimo, explained that region is obligated to comply with the security measures. (more…)
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Wednesday, October 22nd, 2008
The Costa Rica attorney general’s office said Tuesday it has opened an investigation into President Oscar Arias and Environment Minister Roberto Dobles for abuse of authority over a gold mining exploitation they claim to be of “national interest.”
“Monday, the national attorney general’s office ordered an investigation into the President of the Republic Oscar Arias Sanchez and the Minister of Environment, Energy and Telecommunications, Roberto Dobles Mora, for possibly committing the crime of abuse of authority,” a statement said.
Arias, who won the Nobel Peace Prize in 1987 for helping end civil wars in several central American countries, took office as president in May 2006. He served an earlier term as president from 1986 to 1990.
The investigation centered on a decree signed by both ministers last Friday which said that the Crucitas gold mine project in the north of the country, by the Industrias Infinito company, was “of public and national interest,” the statement said.
Environmental groups have slammed the decree which authorizes the company — a subsidiary of the Canadian company Vanessa Ventures Incorporation — to fell 262 hectares (647 acres) of forests, including protected species, in the region bordering Nicaragua.
The Supreme Court on Monday ordered the immediate suspension of the government decree, following a citizen’s appeal to protect the forests.
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Wednesday, October 22nd, 2008
The Costa Rican Supreme court ordered a small Canadian mining company to halt construction at an open-pit gold mine on Tuesday, ruling with environmental groups who say the project is destroying virgin forest.
Infinito Gold Ltd. said the court ordered the company to stop clearing land at the Crucitas mine near the forested border with Nicaragua while it considered complaints brought by environmentalists.
The Canadian miner began last week cutting down trees to build a pit and tailings dam but has now stopped work until the court makes another ruling. The court has not set a date for a final decision in the case. (more…)
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Wednesday, October 22nd, 2008
Infinito Gold Ltd. announced that its subsidiary in Costa Rica, Industrias Infinito S.A. (”IISA”), received a Change in Land Use Permit from the regional authorities in San Carlos Costa Rica pertaining to the clearing of land for the mining and tailings area for the Crucitas gold mine. This Permit followed the announcement of a Presidential Decree, dated 13 October 2008, that authorized the cutting of trees required for the mine and related infrastructure and declared that the Crucitas project was considered in the national interest.
Clearing activities commenced on Friday, 17 October 2008 and continued up until Monday 20 October 2008. This morning IISA was served with a court order from the Constitutional Court, or SALA IV, requiring that tree cutting operations be suspended. This suspension was due to a challenge from an individual in Costa Rica under provisions which allows any citizen to apply directly to the SALA IV for decisions on constitutional issues, in this case the environmental protection provision in Costa Rica’s constitution. (more…)
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Wednesday, October 22nd, 2008
The 53 young people participating in the Iberian-American Chemistry Olympiad visited the Ad Astra Rocket laboratory, in Liberia, Guanacaste, Costa Rica.
The intention of the visit is to see how science is applied first-hand. This laboratory belongs to the former astronaut, Franklin Chang Diaz, and it is where he is building the plasma engine to reduce the time it takes the existing NASA shuttles to travel into space.
The visit lasted an hour and a half and is part of the activities parallel to the Olympics. They are looking to encourage the young people to continue their exploration in the field of science and create their own initiatives.
The Chemistry Olympiad is being developed in Costa Rica and will end tomorrow. The students also visited the Earth University facilities in Guanacaste. The winners will be announced this afternoon.
TicosLand.com wishes them success in this competition and we are proud to see that such activities are conducted in our country because it is a stimulus to the development and advancement of science.
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Tuesday, October 21st, 2008
Residents this week and next have the opportunity to see movies made south of the Rio Grande after the Fourth Latin American Film Festival kicked off yesterday.
Running through Oct. 30, the festival features full-length movies from 11 countries such as Brazilian director Jorge Furtado’s O homem que copiava (The Man Who Copied), showing tonight at 4 and 6 as the other films in the festival at Cine Vairedades (Calle 5 between Avenida Central and 1, telephone: 2222-6108).
O homem is about a photocopy shop attendant who falls in love with his neighbor, starts to copy money to win her affections.
This week’s lineup also includes Ecuador’s Qué tan lejos (tomorrow), Chile’s Casa de remolienda (Thursday) and Argentina’s La suerte está echada (Friday).
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Tuesday, October 21st, 2008
Costa Rican efforts to fight incoming and national crime could be a model for all countries in the hemisphere that are struggling against drug cartels and the violence their henchmen perpetrate.
In early October top law enforcement officials from throughout the Americas gathered in Mexico City, for the 2008 Meeting of Ministers Responsible for Public Security in the Americas (MISPA), where they discussed a wide range of national and transnational public security matters. And not only were problems of multinational wrongdoing key topics, the domestic impacts of crime on a number of nations in the region were plainly detailed in the summit sponsored by the Organization of American States.
Costa Rica was possibly the most illustrative case presented, in heartrending accounts of foreign drug traffickers and other criminals moving into the once peaceful country. But too, part of Costa Rica’s strategy and plan to combat the inward blight could – hopefully– become a model for all countries in the hemisphere in the fight against drug cartels, and the violence perpetrated by drug lords and their henchmen. (more…)
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Monday, October 20th, 2008
To prevent property registration fraud, four companies in Costa Rica now offer real estate fraud prevention services. The service costs between $5 and $20 per month, and includes around the clock property analysis with the Costa Rica property registry. The service is designed to immediately identify potential fraud.
Real estate fraud has made headlines recently in Costa Rica, leaving many Costa Ricans and foreigners with the unpleasant surprise to discover that their properties are listed in the name of another person. The increasing demand for a property monitoring service has opened the market for real estate fraud prevention services. (more…)
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Monday, October 20th, 2008
There can be no doubt about it – Costa Rica is serious about their soccer! When it comes up against political corruption, soccer gets the action.
Earlier this year, Costa Rica broke with Taiwan, and officially supported China instead. China has been using its financial muscle to pull other counties to its side in its fight to stop Taiwan from being recognized as a separate country – China still claims Taiwan as part of its republic. Costa Rica succumbed after decades of supporting Taiwan. There was a lot of under the table action going on – money going this way and that.
Specifically, China bought bonds that were used to replace the soccer stadium in San Jose. This is the Saprissas’ home stadium, and this is the team that most often represents Costa Rica in international tournaments. So, a lot is at stake. The old stadium was torn down in May, and construction on the new stadium was to begin in November. (more…)
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