Archive for the ‘economy’ Category
Posted on November 9th, 2009 by admin
The fifth round of free-trade talks with China concluded Friday as representatives from both countries met in Beijing to further define the details of the pending agreement.
The discussions, which spanned four days, centered on defining the regulations for the exchange of products and services between the two countries. Negotiators also discussed which agricultural products their [...]
Posted on November 5th, 2009 by admin
The International Monetary Fund (IMF) has approved the second and third revisions of the government’s economic program which will permit the immediate release of US$36 million in loans for 2009 general budget support. The IMF approval will also release funds from other financial institutions such as the World Bank and Inter-American Development Bank totaling at [...]
Posted on November 5th, 2009 by admin
Nov 4 (Reuters) – Canada’s mid-tier gold explorer B2Gold Corp (BTO.TO) sees production of 120,000 ounces to 130,000 ounces in 2010, with both its mines in Nicaragua in operation.
Construction at B2Gold’s Orosi mine was 95 percent complete and it expects to start production later this month, the company said in a statement.
It said the construction [...]
Posted on November 2nd, 2009 by admin
The bottle broke, the champagne poured out and the ship was off.
The Ministry of the Environment, Energy and Telecommunications (MINAET) launched Cocos Patrol 1 on Friday from Puntarenas on the Pacific coast. The 48-meter patrol boat will trek 535 kilometers from the coast to the Isla del Coco, Costa Rica’s treasure island. A national park, [...]
Posted on November 2nd, 2009 by admin
MEXICO, October 31 (RIA Novosti) – Russia has donated Nicaragua two cargo containers with medicine, Nicaraguan media reported on Saturday.
Prensa Latina news agency said citing data from the country’s Health Ministry that the total weight of the donated medicine totals some 23 metric tons and it is mostly intended for treating acute respiratory and cardiovascular [...]
Posted on November 2nd, 2009 by admin
COPÁN, Honduras — On the morning that the Honduran president was deposed, Flavia Cueva roused a wedding party of 30 and whisked them out of her jungle eco-resort. Still hazy from the previous night’s party, which involved a mariachi band, fireworks and a shaman-led wedding ceremony held above ancient Mayan limestone ruins, the partyers made a hasty [...]
Posted on October 29th, 2009 by admin
MANAGUA – The Nicaraguan government granted the Amayo energy consortium a license to build, operate and maintain a wind farm in the southern part of the country, the Energy and Mines Ministry said Tuesday.
The permit, approved last Friday by government energy authorities, was awarded to execute the second phase of the wind farm, where the [...]
Posted on October 29th, 2009 by admin
Vancouver, British Columbia, October 28, 2009 — Magma Energy Corp. and Ram Power Corp.’s unit, Polaris Geothermal Inc., have jointly won an international bid for two geothermal concessions known as Volcan Mombacho and Caldera de Apoyo in Nicaragua.
Future exploration of the concessions will be made pursuant to a joint venture agreement, where PGI will be [...]
Posted on October 26th, 2009 by admin
LA UNIÓN, El Salvador – The political crisis in Honduras, which has cost Central American exporters millions in economic losses since last June, is forcing neighboring countries in the region to seek alternative shipping solutions.
Although temporary border closings in Honduras and military curfews in June and September caused only brief disruptions in trade, they have [...]
Posted on October 22nd, 2009 by admin
The Costa Rican Electricity Institute (ICE) faces a fine for unauthorized service fees charged to the telecommunications company Radiomensajes, the Public Services Regulatory Authority (ARESEP) said this week.
The fine, which is more than ₡ 1.5 billion ($2.6 million), is the largest amount ever imposed on a public institution in Costa Rica.
According to ARESEP, from Oct. [...]
Posted on October 22nd, 2009 by admin
Venezuela’s President Hugo Chávez offered support to his Nicaraguan counterpart Daniel Ortega to build an irrigation megaproject based on hydroelectric power, the Nicaraguan ruler reported. Speaking Tuesday night to a group of political supporters in Managua, Ortega said that Chávez agreed to finance the first phase of the Irrigation Project of the Plains on the Pacific [...]
Posted on October 19th, 2009 by admin
A $20 million credit line will channel funds to the financial system for onlending to micro-, small-, and mid-sized productive enterprises
The Inter-American Development Bank approved a $20 million credit line to help the continuity of the flow of credit to Nicaraguan enterprises that have been affected by the international financial crisis.
The multisector credit program will [...]
Posted on October 12th, 2009 by admin
The summit will address several issues, “but specifically the economic complementation processes among the peoples of the Americas”, said Bolivian Vice-president Alvaro García Linera.
He added the objective is to reach “this goal the fastest and in the most intense way” and that production of some of the more advanced members should help those countries that [...]
Posted on October 12th, 2009 by admin
The Finance Ministry has cut funds from the environmental services payment program for 2010, according to the National Forestry Office (ONF).
The office, which had been promised ¢ 11,219 million for the program for 2010, will only receive ¢7,336 million next year.
The Finance Ministry is expected to use the money from the 35 percent cut in [...]
Posted on October 8th, 2009 by admin
Four associations of producers and service providers in San Juan de Limay, Esteli, received grants from the Nicaraguan government through the Rural Development Institute (IDR) to push forward business plans and creation of jobs. The associations which received US$50,000 are Beauty Shop Businesswomen, Seamstress Businesswomen, United Communities of Portillo del Limon, and Platanal Beekeepers.
The government [...]
Posted on October 8th, 2009 by admin
Several union confederations and other civil society groups called last week for a reform of the tax system that will permit expansion of social programs. Representatives of the National Workers Front (FNT), the National Union of Employees (UNE), and the Social Coordinator, all released separate statements calling for changes to the nation’s tax law. Gustavo [...]
Posted on October 8th, 2009 by admin
Yota Mobile Wimax, owned by the Russian corporation Rostejnologuii will won a government concession to provide fixed line and wireless phone and internet service in Nicaragua. According to Guillermo Valdivia of Nicaraguan Telecommunications and Telephone (TELCOR), the company will bring services to communities far from the capital at a lower price than is currently available. [...]
Posted on October 8th, 2009 by admin
On Oct. 1, the Economy Committee of the National Assembly approved a bill for the renegotiation of debt owed to micro-lending institutions. The bill is in response to the “No Pay” movement of small and medium agricultural producers in Northern Nicaragua who have organized to stop foreclosures of farms by international commercial micro-lenders.
Sandinista Deputy Walmaro [...]
Posted on October 8th, 2009 by admin
MANAGUA — The United Arab Emirates is interested in participating in a project to build a canal across Nicaragua linking the Atlantic and Pacific oceans, the Gulf state’s foreign minister said Tuesday.
“We are looking for various means of cooperation” and “of being part of the initiative to unite two oceans with a canal,” said Prince [...]
Posted on October 5th, 2009 by admin
Three Costa Rican clinics have received certification that puts them on par with U.S. medical centers, a move that national competitiveness authorities hope will boost this country’s profile as a prime destination for medical tourism.
Following a six-month review process, the American Association for Accreditation of Ambulatory Facilities (AAAASF) has certified the private surgical and ambulatory [...]