A new ruling by the International Center for Settlement of Investment Disputes requires the mining company OceanaGold to pay interest on the $8 million it owes to the Salvadoran State.
From a statement issued by the Comptroller General of the Republic:
The International Center for Settlement of Investment Disputes (ICSID) has reported that the mining company Oceana Gold (formerly Pacific Rim) must pay interest to the State of El Salvador on the legal costs owed by the aforementioned transnational.
The International Centre for Settlement of Investment Disputes has ruled in favor of El Salvador in the dispute with the mining company OceanaGold, owner of the El Dorado gold mine.
From a press release by OceanaGold Corporation:
(MELBOURNE) OceanaGold Corporation (TSX/ASX/NZX: OGC) (the “Company”) has been advised that the arbitration tribunal constituted by the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) has found in favour of the Government of El Salvador (the “Government”) in its dispute with an OceanaGold indirect subsidiary company, Pac Rim Cayman LLC. ICSID granted an award of US$8 million to the Government of El Salvador to cover its legal fees and costs.
The G20 finance ministers gave full support to the project that would prevent corporate profits from "disappearing" or being artificially transferred to jurisdictions with low or no taxation.
From the press release issued by the G-20:
During a meeting chaired by Turkish Deputy Prime Minister Cevdet Yilmaz, the G20 finance ministers expressed strong support for the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project, which provides governments with solutions for closing the gaps in existing international rules that allow corporate profits to « disappear » or be artificially shifted to low/no tax environments, where little or no economic activity takes place.
The event which will be held from February 22nd to 24th in San José will focus on the practice of international arbitration in resolving contractual problems in construction projects.
From a statement issued by the International Chamber of Commerce in Costa Rica (ICC):
Among the topics to be discussed during this conference are arbitration in Latin America and its current status, recognition and enforcement of foreign awards in Latin America, the rules of the ICC Dispute Board: the case of the Channel Tunnel, the characteristics of disputes in the construction industry, the future of the Committees of Disputes in Latin America, the resolution of disputes in FIDIC construction contracts, among other things.
Increased prices are predicted along with less variety in drugs and agrochemicals because of the progressive protection of patent rights.
Román Macaya, director of the National Chamber of Generic Producers (Canaproge) explained that at the end of this decade the market will feel an impact on the protection of branded drugs and agrochemicals. The changes will occur due to the agreed extension of rights in the FTA between the U.S., Central America and the Dominican Republic.
As of July 9 full legislation comes into full effect which seeks to prevent the entry of weapons or contraband into the United States.
From an article by the Costa Rican Foreign Trade Promotion Office (PROCOMER):
On November 25, 2008, the Customs and Border Protection (CBP) published the regulations for Importer Security Filing (ISF 10 +2) which requires importers and carriers to submit additional cargo information to the CBP before the goods are shipped to the U.S.
CEL has filed a motion to quash the ruling that would allow Enel to have a majority stake in LaGeo geothermal plant.
Tóchez Irving, president of the Commission of the Lempa River Hydroelectric Executive, said: "It is inappropriate to put a country’s strategic resource, such as a geothermal plant, into private hands," when presenting the proceedings before the court of appeals in Paris, France.
Starting January 2012 nutrition labeling of single-ingredient foods such as ground meat and poultry will be required.
On December 29, 2010, the Food, Safety and Inspection Service (FSIS) has changed regulations on meat and poultry products. The changes will come into effect on the 1st of January 2012.
The measure involves the manufacturing of food produced in the U.S. as well as imported goods.
The Salvadoran government has filed a new set of objections after the
The document, presented as a response to the backing given by the International Center for Investment Dispute Resolution (CIADI), describes the way the company changed its nationality in order to take advantage of the benefits of the free trade agreement.
"The jurisdictional objections filed, to which El Diario de Hoy was given access, argue that Pacific Rim's claims are inadmissable owing to the abuse of due process it committed. The mining company's official headquarters used to be in the Cayman Islands, part of the United Kingdon, but since 2007 it has called Nevada home, three years after the conflict with El Salvador's Economy Ministry began".
The court at the International Centre for Settlement of Investment Disputes (ICSID) has ruled in favor of the Canadian gold mining company and dismissed preliminary objections raised by El Salvador.
Pacific Rim, owner of the El Dorado gold mine, is at the center of an international dispute with the Salvadoran government. The company claims that the government owes it at least $77 million for delays suffered to the mining project, in violation of the Central American Free Trade Agreement (CAFTA-DR).
CABEI confirmed that the works to build the new seat of the Costa Rican Legislative Assembly, valued at $96 million, will start on April 2011.
According to the contract signed with the Inter-American Development Bank on 2008, works were scheduled to start on 2010, but were delayed due to problems securing the lots.
The process was resumed after negotiations between Luis Gerardo Villanueva, president of the Assembly, and representatives from the Bank.
The role of GI and DO in the development of Central America regarding agriculture, rural development and biodiversity management.
The strong growth of international trade in goods and services over the past fifteen years within the context of economic globalization has led to a growing concern about the need to incorporate various intellectual property issues in multilateral, regional and bilateral trade agreements.
State of the situation november 2007, of the economic integration process of the Central American region, basically refers to the legal institutional framework and insertion of Central
American into international trade.
Intitutional legal scope, Central American trade with the world, Central American free trade zone, Central American customs union and the insertion of Central America into the world economy.
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