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Archives for June 3, 2016

Central Bank disagrees with artificial devaluation of the colon against dollar

June 3, 2016 by Staff News Writer

The president of the Central Bank of Costa Rica, Olivier Castro, disagrees with an artificial devaluation of the colon against the dollar. Castro said a competitive exchange rate depends on controlling factors that affect productivity, such as fiscal deficit and a positive trade balance. The Central Bank is not responsible for rising unemployment, Castro said. […]

Filed Under: News Reports

Goverment proposes to reduce public spending by 25.8 billion colones

June 3, 2016 by Staff News Writer

According to the extraordinary budget submitted recently to the Legislative Assembly, the government would cut expenses in 25,800 million. The biggest impact will hit ministries’ budgets: 19,491 million colones less than the original amount. Other major cuts would hit other government institutions that will lose 2,219 million colones. Pension expenses would also be reduced in […]

Filed Under: News Reports

¢611 million for scholarships and research projects

June 3, 2016 by Staff News Writer

The Ministry of Science, Technology and Telecommunications (MICITT) is receiving applications for the implementation of financial grants to fund scholarships and research in science, technology and innovation. For this purpose, the ministry will allocate ¢211 million to the Incentive Fund and ¢400 million to PROPYME Fund. The Incentive Fund will assess projects involving professional qualification, […]

Filed Under: News Reports

President would earn twice his current salary

June 3, 2016 by Staff News Writer

Otto Guevara, legislator from the Libertarian Movement, presented a bill to establish a cap on the salary of the president, ministers, deputy ministers, heads of department and senior officers. The proposal aims to impose a single remuneration to these officials, without bonuses or annuities. According to Guevara, there is a great gap in the salaries […]

Filed Under: News Reports

Dairy farms begin road to climate change adaptation

June 3, 2016 by Staff News Writer

The Ministry of Agriculture and Livestock (MAG) delivered $ 1,100 million allocated by the US Aid Agency (USAID) for the implementation of a Strategy for Low Carbon Livestock (EDGBC) in Costa Rica. These resources will be used for the promotion of protein and energy fodder banks to feed the national herd, as well as other […]

Filed Under: News Reports

CACIA will discuss Costa Rican economy

June 3, 2016 by Staff News Writer

The Costa Rican Chamber of Food Industry (CACIA) organized a congress for “Trends that transform the modern food industry”, to be held on June, 7th, at the Wyndham Herradura Hotel. Mario Montero, executive vice president of CACIA, said the participants will analyze all economic, political, commercial and technological variables that affect the production and supply […]

Filed Under: News Reports

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News Summary

U.S. President Orders Navy Task Force to Caribbean to Counter Venezuela Threat

Costa Rica Government Silent on Travel Ban with Just 13 Days Left

News Summary

Legislators approve moratorium for registration of shareholders

President confirms gasoline give away for ethanol pilot project

Chinese company sells low cost smart phones in Costa Rica

Search continues for small plane missing in Drake

Farmers will march to the Ministry of Agriculture

IMN warns of dangerous UV radiation this Friday

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