Archive for December 8th, 2009
Tuesday, December 8th, 2009
Wal-Mart Mexico announced Monday that it will acquire Wal-Mart Central America within the next few weeks.
Shareholders of Wal-Mart Mexico will acquire 51 percent of the shares of Wal-Mart Central America, while the remaining 49 percent will remain distributed among minority shareholders throughout the region. Wal-Mart Central America is the leading operator of supermarkets in the region, with locations in El Salvador, Honduras, Guatemala, Nicaragua and Costa Rica.
“We are uniting two important businesses,” said Doug McMillon, the president and CEO of Wal-Mart International. “This will improve the level of cooperation in the area and offer better service to our clients in Latin America.”
Wal-Mart Central America manages 519 stores and 11 distribution centers. Wal-Mart International reports that sales for the Central American locations have totaled more than $3.3 billion over the past 12 months.
In Costa Rica, Wal-Mart employs about 9,200 people in the Palí, Más x Menos, Hipermás and Maxi Bodega grocery stores, all of which are owned by Wal-Mart. In the Central American region, Wal-Mart employs more than 30,000 people.
In Mexico, Wal-Mart has close to 1,500 locations throughout the country.
Marcos Samaha, the president and CEO of Wal-Mart Central America, will continue to lead the regional operation and will join the board of directors for Wal-Mart Mexico. The acquisition and restructuring process is expected to be completed by the end of the month. Wal-Mart did not indicate whether there will be job reductions.
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Tuesday, December 8th, 2009
An estimated 150.000 Nicaraguan nationals are expected to head north in the coming weeks, according to the director general de Migración, Mario Zamora. The exodus to Nicaragua is expected to start on December 15 and the return on or before January 10, 2010.
Immigration director Zamora said that the Policía Migratoria (immigration police) will be working full force, paying particular attention to the Peñas Blancas land border, and the Upala and Los Chiles crossings as well
The immigration service will also be seeking the co-operation of the various bus lines that have daily service between San José and Managua.
Transnica and Ticabus had added more buses during the holidays and report all seats being sold out starting the week before Christmas. For those not having purchased their bus pass, can hang out at the bus station on a stand by basis.
Zamora said that normally there are 17 officers at the Peñas Blancas, but during the holiday the presence will increase by 20.
In addition to the immigration police, the Fuerza Pública and drug unit will also be increasing personnel at the border crossing.
The immigration service expects December 22, 23 and 24 and January 1, 2 and 3, the peak days, as many have the week off or have asked for time to visit family and friends back home.
The border crossings at Sixaola and Paso Canoas with Panama will also be reinforced, said Zamora.
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Tuesday, December 8th, 2009
The price of potatoes, carrots, onions and sweet peppers are expected to increase as much as 50% for December, a lot less than the 300% increase experienced last December.
The increase is an estimate by the Corporación Hortícola Nacional for the holiday season when demand for the products, that are commonly used in the traditional tamal, is at its peak.
According to the Corporación Hortícola Nacional the current price for a kilogram of potatoes is ¢340 colones, but could be double that or more in the coming days.
The president of the Corporación, Giovanni Masís, explained that a good harvest this year will mean lower prices than that of last year.
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Tuesday, December 8th, 2009
Honduran president-elect Porfirio Lobo Sosa said on Monday that he will travel to Costa Rica and Dominican Republic to help “normalize” ties with countries in Central America.
“Tomorrow (Tuesday) we are going to Costa Rica and on Thursday we are traveling to Dominican Republic,” he told the press.
Lobo said that in Costa Rica, he and his delegation will meet with President Oscar Arias, describing Arias as a man with rich experience who will help Honduras open the door at international stage.
In Dominican Republic they will meet with Dominican President Leonel Fernandez.
Lobo also said that Panamanian President Ricardo Martinelli will arrive in Honduran capital Tegucigalpa on Wednesday.
The flurry of diplomacy came when many countries neither recognized the current de facto government nor Lobo’s triumph in the controversial election, as they consider the presidential race illegal.
Since the elections on Nov. 29, Lobo has met with representatives from Honduras’ different social sectors in the hope to form a government of national unity.
Three former presidential candidates — Elvin Santos of the Liberal Party, Bernard Martinez of the Innovation and Unity Party and Felicito Avila of the Christian Democracy Party — will accompany Lobo during these trips.
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