Colombian group acquires Costa Rica’s Pops ice cream

Popular Tico brand owns 180 ice cream parlors in Central America and Miami.

Colombian Group Nutresa announced the final purchase of 100 percent of the shares of American Franchising Corp (AFC), owner of Tico-born company Pops ice cream, in a transaction of approximately $110 million.

Nutresa on Monday will take control of Pops’ 180 parlors distributed throughout Central America and in Florida, U.S.

As part of the transaction Nutresa also acquired the production plant, Entrepans coffee shops and the distribution franchises of Haagen Dazs and General Mills (Nature Valley, Betty Crocker and Chex Mix) in the region.

Pops started operations in 1968 in San José, with a single ice cream parlor and a small production plant, both located in the same building. It subsequently expanded to the Central American region.

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Costa Rican economy grows more than regional average in 2012

The Costa Rican economy will finish the year with 5 percent growth, a figure that is above the 3.2 percent average for Latin America, according to the Economic Commission for Latin America and the Caribbean (ECLAC).

The most dynamic sectors are transport, storage and telecommunications services, financial intermediation, insurance, real estate and manufacturing.

The study also says the government fiscal deficit will close at 4.5 percent. The fiscal deficit in November was 4 percent.

ECLAC predicted the country’s growth will drop to 3.5 percent next year.

In August, Costa Rica’s Central Bank predicted growth of 4.8 percent in 2012.

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Davivienda Financial Group takes control of HSBC

Bank plans to expand operations in El Salvador, Honduras and Panama.

Colombian bank Davivienda took over this week HSBC Bank operations in Costa Rica, after formalizing the acquisition of its shares last Friday.

Davivienda’s total investment was $300 million for all companies and businesses belonging to Grupo Financiero HSBC in the country, including a stock brokerage firm and an insurance agency.

Efraín Forero, president of the group, believes that Costa Rica is “promised land” for foreign companies in Central America and Colombia. He also confirmed the bank plans to approve personal loans or mortgages “within minutes.”

Davivienda is developing a strategy called “multilatina,” with $25 billion in assets, placing it 26th in the ranking of Latin American banks.

After the Costa Rica venture, the company plans to open businesses in El Salvador, Honduras and Panama.

HSBC’s 800 employees will remain at their jobs.

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EU maintains trade benefits for Tico products

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Costa Rica is on a list of countries that will maintain trade benefits in European countries, according to a report released Wednesday by the European Union.

Bananas are one of the most important products that will maintain tariff advantages to enter European nations, but Costa Rica hopes that an Association Agreement with the EU, scheduled to start in January 2013, also will create new opportunities to enter the European market for products such as sugar, meat, yuca and textiles.

The EU is the second-largest trading partner for Costa Rica. In 2011, exports totaled some $1.8 billion, representing 19 percent of total exports. The number of products exported to Europe was 806, from 547 companies, according to the Foreign Trade Ministry.

A total of 12 nations will leave the European system of benefits known as Generalized System of Preferences, after having been cataloged in recent years as economies of upper-middle income by the World Bank.

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Costa Rica seeks to attract more tourists from the Middle East.

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A new agreement will help boost the number of flights from the region.

Costa Rica and Qatar on Today signed the Central American country’s first open-skies agreement with a Middle Eastern country, aimed at boosting tourism from that region.

The Costa Rican Tourism Board (ICT) said in a press release that the agreement allows flights and airline operations between the two countries.

Tourism Minister Allan Flores said the agreement also will allow airlines to connect from other countries and transfer passengers between flights.

Air Transport Vice Minister Luis Araya said that in the last two years, Costa Rica has signed more open-skies agreements than in the past 100 years.

“These air transport links are vital in an economy in which tourism is our main economic development engine”.

Qatar, an emirate in the Middle East, has the highest gross domestic product per capita in the world ($102,700), and Costa Rica hopes to become a favorite holiday destination for its nationals.

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Costa Rican exports increase by 8.4 percent in first three quarters of 2012

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Most buyers of Tico exports are countries with free trade agreements with Costa Rica.

The value of Costa Rican exports increased by 8.4 percent in the first nine months of this year, totaling $8.5 billion, the Foreign Trade Ministry (COMEX)

Recent figures show consistent growth in exports of free-zone and agricultural products.

According to COMEX, countries with free trade agreements with Costa Rica account for 68 percent of Tico exports so far this year. Costa Rican exports to those countries increased by 8.9 percent in the first three quarters, from $5.2 billion during the same period in 2011 to $5.7 billion this year.

North America (the United States and Canada) is the main destination for Costa Rican exports, accounting for 42.5 percent of total exports (an 8.8 percent increase from 2011). Next is the European Union, with 18.1 percent (a 6.9 percent increase), Central America, with 14 percent (a 6.4 percent increase), and Asia, with 12.8 percent (a 24.6 percent increase).

Central Bank projections show the country is on track to meet – and likely surpass – this year’s export target, estimated at $15.8 billion in goods and services.

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President of Costa Rica seeks investments in China.

Laura Chinchilla, Costa Rican president, seeks to increase the country's exports and encourage foreign investment on her visit to China and South Korea.

The first day of tour, the President of Costa Rica met with Chinese businessmen to discuss the advantages of the country as a destination for investment and tourism.

In turn, oriental companies have agreed to start negotiations to invest in a photovoltaic plant in our country. Trade with China shows an increasing trend in the last 10 years, with an average annual growth rate of 37.7%.

Costa Rica is an important place in terms of quality of life of its population, and various analyzes is that mark Costa Rica as one of the happiest countries in the world. It is a country that has driven the development of its population and also the harmony with their environment. This also represents a competitive advantage as it has skilled labor.

The forum was also attended by ministers of Foreign Trade and Tourism, who presented details of the infrastructure, economy, education, geography, tourist attractions and even the climate of our country, all with the aim of expanding the knowledge that Asians have on Costa Rica.

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CNN ECONOMY ANALYST GIVES A GOOD CHECK TO COSTA RICA.

This 2012 has submitted an acceptable economic growth despite the current crisis.

ISAAC-COHEN/ Costa Rica/ Costa Developers

The country's economy and a sustained increase in exports, shows a positive outlook for the year 2012, according to the expert analyst on CNN in Spanish economy, Isaac Cohen.
The vision of growth and stability in Costa Rica are seeing with a good eye. The admiration from outside of Costa Rica to maintain an important balance and low debt factor are some of the things that some take into account to settle in this country.

Cohen's remarks coincide with news that the Central Bank of Costa Rica provided on maintaining inflation at 4% and 7% which was expected in the first period of the year.

The expert explained that the free trade, in spite of not being used the right way, it has given a boost in attracting foreign investment.

According to the analyst, part of the national monetary success lies in what he calls the two deeds of the past 20 years: the arrival of Intel and ecotourism, "which is a world model."

Another achievement is that the country does not have a strong inflow of “immigrants quota", as in other Central American countries, and it also attracts investments.
In Costa Developers we like being part of the model to attract investors and tourism to the country, through our fractional properties, which contribute indirectly to economic growth and ecotourism model.

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Vacation in Fractional Properties Can Cost you much less | Costa Developers

Experience a serene holiday in a luxurious coastal house and pay for a fraction of what it actually costs. 

Costa Developers fractional ownership program not only is a great way for homeowners to profits while they’re back to their usual routines in the US, Canada or anywhere else, it is a tremendous way for anyone looking to visit Costa Rica to enjoy their vacation in ultimate style, privacy and luxury. All you have to do is book a house with our property management team and catch a flight down and check it out. 

Everything needed is right there in the home because each is delightfully decorated and furnished right down to the dishes, towels, sheets and coffee makers; don’t forget your bikini since there is an ample beach club with BBQ, Palapa, and lounge areas surrounded by tropical beauty.

Don’t forget some binoculars as well because it won’t be long before you spot some natural world all around, many of our guests have been thrilled to report seeing tons of animals, toucans, sloths, monkeys, macaws, among others.  

What’s even better is that all of the homes are located just minutes from Costa Rica’s most privileged beaches and variety of activities such as whitewater rafting, canopy, and tours to rainforest, cascading waterfalls etc. 

But the best thing about renting a Costa Developers fractional house is that for about the same price of a luxury hotel room, you get enough room to bring your entire family, giving everyone their own space and privacy. And when you come back home from a long day of sun and fun, enjoy their own shower or bath before heading out again to taste all the flavors of the many restaurants nearby. You’re only job is to relax, chill out and pile on as many adventures as you can fit in to each day here in the Central Pacific of Costa Rica!

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Assisted living is an option when vacationing in Costa Rica | Costa Developers

Costa Rica has been a holiday destination for a long time, in the last few years, a major investment destination as well. Thousands of people have purchased real estate in Costa Rica to either move in or enjoy a second home for special occasions.

Retirement is a great opportunity to start experiencing a different lifestyle and Costa Rica is the perfect destination to do so. There’s nothing more calming than spending time at a beach town enjoying tropical weather and experiencing the laid back lifestyle of Costa Rica.

The Central American country has attracted foreigners because of its incomparable conditions and multiple benefits when investing in it.

Besides offering the most appropriate real estate chance, Costa Developers offers you a package of assistance services you won’t find anywhere else.

Do you know what we are talking about? A type of long-term care facility for elderly or disabled people who are able to get around on their own but who may need help with some activities of on a daily basis living or simply opt for the convenience of having their meals in a central restaurant and having nursing staff on call, right away. It represents a living arrangement in which people with special needs, especially elders with disabilities, live in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication.

Assisted living is what we want to offer you when visiting Costa Rica, our fractional ownership program gives you the break to run away from the freezing weather and the costly living.

What about medical Care in the Central Pacific Coast? Costa Rica’s got a high quality medical service in the country, as a result International Medical conventions haven taken place here. Private medical centers are prepared with the latest technology to give its patients a first class attention. In the Central Pacific there are more than a few public and private clinics, private ones are chosen more frequently by foreign citizens, and costs are much inferior than in the US and you can predict an excellent work.

Our experience and comprehension of the area and our correlation with our clients has helped us build a suitable real estate investment in Costa Rica for your convenience. Costa Developers assisted living program is part of our fractional ownership program, which provides the most proficient, quickest and cooperative reaction to all your requirements during your stay in Costa Rica.

Not only medical care is available, but also all kinds of facilities you may need, such as homebuilders, cleaning services, transportation, landscaping, many more.

Costa Rica Real Estate | Costa Developers

More Canadians are vacationing in Costa Rica | Costa Developers

New flights from Canada to Costa Rica start operating due to the increase of visitors from the North American country to the tropical paradise.

The interest of Canadian travelers to fly into Costa Rican territory is growing. This was determined by interest of airlines to open new flights from Canada. There are presently three existing airlines that fly from Toronto and Montreal to both national airports in Costa Rica.

The arrival of more Canadians could be important income for the Costa Rican economy because the country is one of the wealthiest in the world.

Most of Costa Developers clients come from Canada and the US; they’ve found in our developments a great lifestyle in a coastal home and beach properties.

"The increase of flights from Canada is in part due to the signing of the Air Transport Agreement between both countries," said Luis Carlos Araya, Deputy of Air Transportation.

TACA was the first to launch into full force to attract the Canadian market. Since July 1st, TACA extended its flights between San Jose and Toronto from three flights weekly to a one daily.

Air Canada also increased its operations to Costa Rica, but not from the Liberia, the capital. Guanacaste is the next destination the U.S. Company is interested in exploring next semester.

These aren't the only airlines companies that are interested in connecting Canada with Costa Rica, West Jet, a Canadian airline is also thinking about flights to Costa Rica. Although the low-cost airline is interested in adding the country to its flight schedule, they have not made an official proposal.

There are two major purposes for Canadian tourists when traveling to Costa Rica; the first is to enjoy leisure and adventure offered by national tourist regions and secondly are those traveling for medical tourism, which has become more popular in the country, as well as a retirement destination. Having a second home through our fractional ownership programs, gives the opportunity to recover from a medical procedure or enjoying an incomparable time at a beautiful beach in Costa Rica.

CostaRica Real Estate | Costa Developers 

The chairman of the Cup of Excellence’s board of directors is one of the buyers. Hannah J. Ryan Coffee cupping is a detailed art that begins with freshly roasted and ground bean samples. The drink is brewed by pouring hot water over the coffee and scooping off the grounds that float to the top. Cuppers slurp the hot drink from a spoon to spread the flavor across their tongue, swish it about their mouth and then slip it out to experience the coffee's full flavor profile. This year’s highest-scoring Costa Rican coffee received a record $45 a pound in the Cup of Excellence’s online auction, held Tuesday morning. A Brumas del Zurquí coffee in Heredia was awarded 93.47 points in the national cupping competition in May (TT, June 29). Three micro-roasting coffee companies in Japan paid nearly $100,000 for 2,200 pounds of the winning green coffee. Judges awarded the especially high score to the Heredian coffee for its unique complexity of dried raisin and prune flavors along with floral aromas. Prior to the auction, Cup of Excellence international judge Bernd Braune said the winner was a surprise to all because Heredia is not particularly known for exceptionally unique micro coffee lots. Over the past five years, coffee producers around Costa Rica have improved their growing and harvesting practices, Braune said, and to see this quality of coffee is exciting. The buyers of the winning lot are Maruyama Coffee, Yokoi Coffee and Bontain Coffee. The president and founder of Maruyama Coffee, Kentaro Maruyama, is the chairman on the Cup of Excellence’s board of directors. Bontain Coffee’s owner, Yoshi Kato, is also a board member. A total of 27 Costa Rican coffees were auctioned at an average price of $8.90 a pound, bringing in some $600,000 for Costa Rican coffee producers and the Coffee Institute of Costa Rica. | Costa Developers

Second Vice President Luis Liberman heads the Chinchilla administration’s economic team. Will his experience in the private banking system help Costa Rica weather rough economic seas?

Fernando Quirós

Second Vice President Luis Liberman, 65, joined Laura Chinchilla’s presidential campaign team after serving as general manager of Scotiabank and its predecessor, Banco Interfin. He now coordinates Chinchilla’s economic team.

Luis Liberman came to the second vice presidency of Costa Rica by an unusual route: an outstanding banking career in the private sector. 

Liberman, 65, started from scratch in the late 1970s by getting a group of prominent businessmen to invest in Banco Interfin, a finance company that he ran as general manager. Under Liberman’s leadership, Banco Interfin grew during three decades into Costa Rica’s biggest private bank.