The ICSID Arbitral Tribunal has ruled that the Costa Rican government did not cause damage to the company of Swiss capital, Gas Nacional Zeta, which sought damages of $75 million for disagreements over the LP gas tariff setting.
In 2013 the company of Swiss capital sued the Costa Rican government over disagreements on the tariff setting and safety requirements.
Jaguar Energy Guatemala has announced that it won the international arbitration case against China Machine New Energy Corporation, which has to pay the former entity $149 million.
According to the company, as a result of the decision from the arbitral tribunal, the power plant based on coal will remain its property, and the Chinese company will have to pay $149 million.
The vitamin supplements company will have to restructure its multi-level marketing operation and pay $200 million in compensation to the affected distributors.
The US Federal Trade Commission (FTC) announced that the multinational company Herbalife will have to pay $200 million in compensation to consumers / distributors who were tricked with promises of earning sums of money that never appeared.
There is growing use of the 'Vale Panamá' electronic cards as a means of compensation and bonuses payments to employees.
The main advantage of this mechanism is that the compensation paid by the company is exempt from labor costs, and can be used by employees in shops to buy food, medicine and other items.
As compensation for having suspended an electricity supply contract using a floating thermoelectric generation plant, the government will pay AES Panama up to $20 million.
The contract was canceled at the request of the Varela government, which pointed to the high costs of supplying electricity. Now, after negotiating with the company AES Panama SA, the government has agreed to pay up to $20 million for ending the contractual relationship early.
Banks authorized by the Superintendency of Securities may perform operations of clearing and settlement of securities in the stock market, which until now has only been done by brokerage houses.
With this modification in the regulations banks may provide more support for trading by its investors, providing the service of clearing and settlement of securities transactions which previously were only handled by brokerage houses.
Demands are for a reduction of hours to 40 per week but with pay for 45 hours and companies to take on transportation and food costs.
Construction workers are demanding a reduction of their working hours to 40 hours, but with payment corresponding to a 45 business hour week. They also want companies to assume the costs of food for employees, as well as transport and delivery of 5 uniforms twice a year.
Performance bonuses and other variable compensation schemes weigh increasingly on the total compensation of senior managers.
In order to motivate and retain executives companies are tending more and more to compensate their executives with salary schemes where the variable proportion and that dependent on performance is increasing.
Paying with company stock, profit sharing from stocks or performance bonuses are some of the payment methods being used by companies for senior managers, as detailed in a report by consulting firm PriceWaterhouseCoopers.
Guatemala's government is planning to create a fund from the fees paid by hydropower stations.
According to an article in Prensalibre.com "the creation of an energy fund could be, according to the Ministry of Energy and Mines (MEM), a solution to the social conflict caused by hydroelectric energy, although the proposal already has opponents. "
While the unemployment rate remains the lowest in Latin America, an even greater level of preparedness of the workforce is needed to achieve dynamic and sustainable growth.
According to an article in Capital.com.pa the rate of employment growth is no longer parallel to economic growth, noting that "According to official figures, between March 2012 and March 2013 there was a decrease in the labour force of nearly 7,000 jobs. "
Costa Rica's Banco Nacional has been sentenced to pay compensation to 66 notaries for alleged breaches in finalizing their contracts.
The ruling by the Administrative Court, which is not yet firm, represents 30% of the bank's expected profits for 2013, and restricts the entity's ability to increase its loan portfolio.
When vacancies arise companies fill them paying the new employee less than before, and give them even more demanding requirements.
A Manpower study outlined in an article in Prensalibre.com notes that in Guatemala "requirements are increased when new staff are hired, however the wages offered are not in line with the international market.
Private banks in Costa Rica are opposed to the $30 million fund that protects small depositors being transferred to the Central Bank.
Nacion.com reports that "private banks are against transfer of the administration of the $30 million fund which protects small savers, in case of bankruptcy of a financial institution, to the Central Bank, as ordered by a Bill ruled on in the Economic Affairs Committee of Congress. "
The company will compensate more than 5,000 banana plantation workers affected by the use of pesticides.
The agreement, which will benefit 3,153 Nicaraguans, 700 Costa Ricans and 1000 Hondurans, was reached after several months of negotiations.
One of the lawyers involved in the process told AFP that the "compensation, which will take effect over the next two or three months, will allow these workers to change their lives."
The multinational has reached an agreement with the main Honduran labor union to create a $1.54 million relief fund to help workers made redundant.
Two factories that supplied NIKE were forced to close in January 2009 and still owe $2 million in salaries and benefits to 1,800 employees, an insignificant amount compared to its $19 billion revenues last year.
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
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