business

If Costa Rica is serious about meeting its 2021 carbon neutrality goal, it will have to address the transportation sector, Environment Minister Edgar Gutiérrez said, which is responsible for nearly 32 percent of CO2 emissions and 67 percent of fuel consumption in Costa Rica.

The company plans to move 50 percent its operation to the U.S., El Salvador and Nicaragua over the next five years.

Some have voiced concerns about the project’s final price tag, specifically the cost of expropriating land for the expansion. The bill must now be signed by President Luis Guillermo Solís before becoming law.

“The United States and all countries south of us should and need to do business with each other. ... There’s no need to go to China when you have Mexico, Costa Rica, Colombia and Chile."

On the corner of 7th Avenue and 3A Street in downtown San José, sits one of the oldest and few remaining shoe repair shops in the city.

Members of the Legislative Assembly's Commission on Public Income and Expenditures on Monday scrutinized the manner in which state-owned Banco de Costa Rica (BCR) appointed its current general manager and two assistant managers.

As Costa Rica worried about its privileged spot as a world-renowned tourist destination this year amid high operating costs and neighborhood competition, the Costa Rican-American Chamber of Commerce elected a seasoned veteran of international hotel management as its president on Jan. 27.

Vice President and Finance Minister Helio Fallas announced on Tuesday that the government will conduct an evaluation of all salary incentives and policies at public banks, following an investigation by the Comptroller General's Office last month. The investigation found that salary incentives and bonuses are hurting credit options for people and for small businesses.

MEXICO CITY – Battling favoritism accusations, Mexico's scandal-hit President Enrique Peña Nieto announced on Tuesday an investigation into houses that he, his wife and his finance minister bought from government contractors.

A report made public this week by Costa Rica's Comptroller General's Office notes that from 2006-2012, three of the country's public banks spent ₡100 billion ($185 million) on salary incentives and bonuses for employees, which is the equivalent of almost a quarter of their total profits.