Grupo Invercasa has received authorization to create and manage funds in real estate and financial investment in the country and plans to raise $150 million over the next five years.
With the creation of the fund management company Invercasa the aim is to raise investment of $150 million in the first five years of operation, primarily through the model of real estate investment funds.
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.
Managers from investment funds and pension in Central America will be meeting in Panama City on August 19th.
Marielena García Maritano, president of the Panamanian Chamber of Managers of Mutual Funds and Pension Funds (Casip) told Capital.com.pa that the purpose of the event is "... to give participants information about the platforms and infrastructure for the fund business. "
The Development Bank of Latin America has provided a loan of $300 million to the Spanish Official Credit Institute for promoting business development between Spain and Latin America.
From a press release issued by the Development Bank of Latin America (CAF):
CAF (Development Bank of Latin America) and the Official Credit Institute (ICO) today signed the granting of a loan for $300 million for the financing and provision of guarantees for Spanish and Latin American companies.
A proposal has been made that the municipalities seek financing by securitizing their income, requiring information on their financial capacity.
From a press release issued by the Legislative Assembly of El Salvador:
The Finance Commission today launched the consultation phase for a draft amendment to the Law on Securitization of Assets, to hear the views and comments of the leaders of the Superintendency of the Financial System (SSF), the Central Reserve Bank (BCR), the Stock Exchange of El Salvador (BVES), and institutions specializing in asset securitization HENCORP Valores, S.A. and RICORP Titularizadora S. A.
The initiative Finnpartnership's Matchmaking Service will be presented in Nicaragua, a development which facilitates links between companies from developing countries and the Nordic country.
With the help of intermediary services from Finnpartnership, companies and organizations in Finland and developing countries can seek business partners and business opportunities and cooperation.
The proposal to finance small enterprises using venture capital remains stalled.
Since last year, authorities have been analyzing financial market regulations that support the creation of the framework and its use for small businesses.
The delay, they say, is because they want to analyze every aspect of it, especially with regard to the risks, believing it could its use could become popularised among investors that do not meet the profile.
A special Fitch report on the status of the country's financial funds industry.
In Fitch's opinion the Costa Rican financial investment funds (FIF) industry displays a constant need to reorganize its portfolios in order to remain in the market as an alternative investment option.
This reorganization of Costa Rica's FIFs is to some extent according to the currency they are held in (investments may move between currencies depending on the local exchange rate and international factors). However, to a greater extent the restructuring occurs in accordance with changing investor objectives and interest rate forecasts.