SAN JOSÉ, Costa Rica – The government is clamping down on businesses and individuals who defraud the state by failing to pay taxes. The government wants to curtail a runaway fiscal deficit that in 2010 was the highest in Latin America, totaling 5.2% of the country’s US$53 billion gross domestic product (GDP), according to the [...]
Are the protests around the world, which even hidebound Time Magazine in America is featuring as ‘Person of the Year,’ auguring and catalyzing a global shift in consciousness? The mass movements directed at governments around the world (with even villagers in southern China directing their ire at their government) represent an even greater challenge to [...]
Argentina is said to have a long history of instability with regards to politics and this has been the situation since the World War II. Argentina had almost went into a coma during its economic crisis in 2001 but it was able to rebound from this situation soon enough. During the economic crisis in 2008, [...]
PANAMA CITY, Panama and FT. LAUDERDALE, Fla., USA – After banning commercial purse seining from its waters in July, the Republic of Panama has taken further steps adding restrictions on longlining for the conservation of its marine life and its socio-economic growth. In letters to Panamanian officials, Ellen Peel, President of The Billfish Foundation and [...]
Banco de Bogotá is looking to expand commercial credit to Central American customers after the purchase of Grupo BAC-Credomatic, which concluded Wednesday of last week. Luis Carlos Sarmiento Angulo, president of the board of directors of Grupo Aval and owner of 75% of Banco de Bogotá, reported that Banco de Bogotá, through its subsidiary Leasing [...]
The euro rose on Friday, heading for its first weekly gain versus the U.S. dollar in six weeks as investors who had bet on the currency’s fall bought it back on fears of central bank intervention. The Australian dollar jumped on speculation Australia’s central bank may step in to support the currency. The Aussie is [...]
(Reuters) – Citigroup Inc posted a $4.43 billion first-quarter profit, its best result in nearly three years, as the economic recovery reduced the bank’s credit losses and increased prices on even its worst assets. The results signal the bank is recovering and appear to vindicate Chief Executive Vikram Pandit, who a year ago was under [...]
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