Details of the finances of the Costa Rican company dedicated to the development and marketing of beverages and foodstuffs, up to September 2015.
From the financial analysis report on FIFCO prepared by Aldesa Puesto de Bolsa:
Main results up to September 2015:
The net profit for the period between June and September 2015 was $11.016 billion, 2.5% less than in the same quarter last year, due to the fact that in this timeframe some real estate sales were made in the field of Coyol of Alajuela, which generated significant revenues. However, other items and products presented a very good quarter.
The Global Financial Integrity report places Costa Rica and Panama in positions 14 and 18 in the list of countries that moved the largest flows of illegal money in the world between 2003 and 2012.
The report entitled "Illicit Financial Flows from Developing Countries: 2003-2012" by Global Financial Integrity, said that between those years, the flow of illicit money in Costa Rica exceeded $94 billion, about $30 billion more than the amount accumulated between 2001 and 2011, according to reports from the same institution in mid-2013.
The Ministry of Labor has retained office goods and the quarry belonging to Petaquilla Gold mining as part of measures to ensure the payment of wages of workers in the mine.
Despite rumors of the stoppage of the extraction process due to lack of capital to continue operations, the mining company is not bankrupt, but owes its employees about $3.5 million. It is expected that by 29th to 31st of October, the company will pay the fees.
In the first half of 2014 foreign direct investment grew by 21% over compared to the same period in 2013, with the banking sector being one of the main recipients.
Between January and July $187 million was invested in the general license banking sector, $175 million in banks with international licenses, $158 million in companies in the Colon Free Zone and the rest in other productive sectors.
Banco Promerica has raised $25 million from the future flow of receivables generated by remittances from Salvadorans living abroad.
The bank structured a financial vehicle through which it securitized flows of receivables generated by U.S. entities using Salvadorans to send remittances to the country.
In an article in Elsalvador.com the vice president of the securitization company Hencorp Securities SA, Victor Quijano explained, "when countrymen abroad send remittances to El Salvador, the latter may make them effective 10 minutes after the operation is made abroad, despite the advancement in technology, the money may not come as quickly to the country, therefore the bank, in this case Promerica, has to pay such remittances using its own funds, which in turn generates accounts receivable from remittance companies.
Construction subcontractors from the coal plant which must provide 300MW to Guatemala's electrical system, have been laying off workers and slowing down work because of non-payment by the CMNC.
An article in Siglo21.com.gt reports that "At the worksite, at kilometer 80 on the Route to the Pacific, it is said that the structure has become paralyzed because some companies have decided to cut staff and this has stopped work because they are running out of funds. The problem is that the body responsible for delivering the turnkey project, the China Machine New Energy Corporation (CMNC), has not paid subcontracted firms, who are complaining about the problem. '
Adapting to a competitive market is being costly for the Instituto Costarricense de Electricidad, which in 2011 accumulated losses of $40 million and a negative return of 2, 1%.
Already in 2011 the Instituto Costarricense de Electricidad (ICE) has had to "seek waivers or amendments with eight of its creditors", according to an article in Elfinancierocr.com, because it failed to maintain the necessary financial indicators to fill the banks with confidence.
IFC announced that the Honduran Bank has joined its global financing for foreign trade program.
Its participation in the program will allow Banpaís to expand its financial transactions to foreign trade with an extensive global network of banks and improve Honduran companies’ access to credit lines for trade.
Banpaís is the third Honduran bank to join the IFC’s (International Finance Corporation) global business financing program, which supports trading in emerging economies by providing guarantees. To extend and complement the capacity of banks to provide financing for trade, the IFC seeks to increase the participation of developing countries in global trade and promote the flow of goods and services between these countries.
Regulation, surveillance, and supervision of the financial systems in Central America and the Dominican Republic.
International financial innovation has become one of the factors behind the current global financial crisis. According to estimates, almost 78% of global liquidity is concentrated in derivative instruments , which have come to represent at least 94% of the global GDP. On the other hand, high powered money, only 1% of global liquidity, constitutes 9% approximately (11% and 28.4% respectively for the Central American region and the Dominican Republic in 2006).
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