After issuing warnings of impending litigation for 10 months, Canadian firm Industrias Infinito has filed a case against Costa Rica before the International Centre for Settlement of Investment Disputes (ICSID). The firm argues that Costa Rica violated the terms of a trade agreement with Canada when it stopped a mining operation in Crucitas. Work had […]
Congress approves in first debate plan to discourage inflow of speculative foreign capital
The legislature approved on Monday a bill to discourage the entry of speculative foreign capital, also known as “capitales golondrinas”. The bill passed with 36 of 44 legislators in favor, and will need to pass one more time before becoming law. The law would give the board of the Central Bank (BCCR) the power to […]
Five large U.S. firms in Costa Rica recover their stock values
Stock values for five large companies that have brought foreign direct investment and jobs to Costa Rica are trading at their highest levels since declines between 2011 and 2012. According to information from the Costa Rican Coalition for Development Initiatives (Cinde), the quintet is formed by: Hewlett-Packard (HP), 6,500; Sykes, 3,600, Boston Scientific Corporation, 2750, Hospira, […]
14 victims identified in case of organ trafficking at Calderon Guardia Hospital
Prosecutors have identified a total of 14 victims in the case of organ trafficking at Calderon Guardia Hospital. In June of 2013, investigators arrested the head of Nephrology at Calderon Guardia and a police officer on charges of recruiting victims. In October of 2013, investigators arrested two additional doctors and an owner of a pizzeria […]
U.S. citizen killed by multiple stab wounds in Costa Rica
U.S. citizen Kurt Hergis (Kurt Heigis), age 64 was murdered on Sunday night after his vehicle was intercepted as he traveled through a dark and mountainous area near La Fortuna. According to witness testimony, four men assaulted Hergis who was found dead with at least three stab times. Hergis was traveling with his girlfriend of […]
Second Avenue is renamed “Avenida del Libertador Juan Rafael Mora”
Second Avenue has been officially renamed Avenida del Libertador in honor of former Costa Rican president Juan Rafael Mora. The move comes 200 years after his birth in a dedication attended by President Laura Chinchilla. Mora was born on February 8, 1814 and executed by firing squad on September 30, 1860 in Puntarenas. He is […]