Archive for September 1st, 2009
Tuesday, September 1st, 2009
A Nigerian national was arrested at Bush Intercontinental Airport in Houston after a flight from Costa Rica, caught carrying more than 500 grams of cocaine in his stomach by US federal agents.
Records filed in Houston federal court showed Sunday Nnamani arrived at the airport from Costa Rica on his way to London.
Agents with Immigration and Customs Enforcement wrote, “Nnamani appeared nervous, had trembling hands, would not make eye contact and had a dry mouth” during questioning.
Costa Rican authorities had tipped off Houston DEA agents that Nnamani may be an “internal courier.”
Nnamani was then taken to Northwest Medical Center where agents requested an X-ray of his stomach, where X-rays revealed “multiple pellets” filled Nnamani’s stomach and intestines.
Investigators said Nnamani eventually expelled 76 two-inch-long pellets, which all tested positive for cocaine.
Federal agents said Nnamani confessed and told them he agreed to carry the cocaine for a friend named “Chaz” from Costa Rica to the United Kingdom.
Court records indicated Nnamani was paid $5,000 British pounds to smuggle the cocaine.
Posted in Costa Rica News | 2 Comments »
Tuesday, September 1st, 2009
The Dirección Nacional de Control de Propaganda del Ministerio de Gobernación y Policía has ordered Megasuper to stop all its ads in all forms of communications – radio, television and newspaper – that depict a man dressed as a woman.
The Dirección made the decision following complaints by the Instituto Nacional de las Mujeres (Inamu) – women’s institute – and feminist groups who consider the advertising shameless and offensive to women.
Megasuper has been using the ads to promote consumer awareness to Megasuper’s lower prices in the supermarket war, which last week saw the action of Wal-mart to ask the courts for a gag order against Megasuper for misleading advertising practices and mentioning the Palí supermarket in its ads.
The giant Wal-mart who operates the Mas X Menos, Megasuper and Palí supermarkets and the Hypermas superstores, claims Megasuper has cost it money in false claims, forcing the supermarket chain to make up the difference in prices that is part of Palí’s marketing tactic.
Megasuper now faces a judicial process if it defies article 18 of the Reglamento a la Ley 5811, which effectively stops the supermarket to stop using the current ads.
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Tuesday, September 1st, 2009
After years of debate and final approval last December, one legislator is asking for a postponement of the September 23, 2009, date that the new Ley de Tránsito is to take effect. Legislator Andrea Morales made the proposal before the Legislative Assembly Thursday afternoon.
The request was made to allow legislators more time to discuss the amendments to the reformed law that introduces heavy fine, loss of license and jail time, before it takes effect.
Andrea Morales is asking fellow legislators to postpone the implementation of the law until March 2010. (more…)
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Tuesday, September 1st, 2009
Lenders, earn up to 22% Interest on Real Estate Equity Loans in Costa Rica
In today’s world the value of assets is not always obvious. It is often latent, and has to be unlocked through financial and human capital. We recommend Gap Investors, who focus on unlocking this latent value in Costa Rican property development.
Gap Investors specializes in brokering syndicated loans, which are loans offered by a group of lenders, to provide funds for a borrower to start a real estate development project on properties with high potential (known as latent value) in Costa Rica.
The goal of this form of lending is to get development plans off the ground. These loans will not be given by risk-averse banks without a significant amount of collateral and a high income, so we come in by bringing in a group of enterprising lenders to provide enough short-term funding to get the development to the point where banks will be open to financing.
Because of the nature of the loan the interest rates are typically higher than regular bank interest rates. Collateral is provided in the form of a mortgage lien on the borrower’s property, which is shared by all lenders in proportion to the funds invested by each, through shares in a corporation holding the mortgage.
Bridge loans are usually short in duration and effectively create a financing bridge from the start to the point where banks are interested in the project.
The loans use multiple lenders to allow maximum flexibility. At Gap Investors, a single investor can finance multiple syndicated loans at one time, therefore diversifying their total investment portfolio.
Contact us for more information on offshore investments, or feel free to visit the Gap Investors web site. www.gapinvestors.com
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