Business intelligence and technology tools enable retail businesses to deeply analyze the behavior of their customers inside and outside their stores, in order to identify the ideal location for future expansion plans.
The data science models are the third phase of location and mobility intelligence analysis, helping retailers to assess the market potential of areas of interest for new store openings and identify optimal potential locations for expansion. These are divided into three steps:
The Central Bank proposes modifying the methodology to more appropriately approximate the average exchange rate of all exchange transactions in the economy.
From a statement issued by the Central Bank:
In accordance with Article 48 of its Organic Law, to determine the effective commercial value of foreign currency, the Central Bank of Costa Rica (BCCR) agreed tosubmit to public consultation a modification to the Regulation of Exchange Rate Transactionsin order to vary the methodology for calculating the reference exchange rates for the purchase and sale of United States dollars.
The ARESEP is proposing including energy imports in the formula for calculating the expenditure incurred by the state run power company, in addition to spending on thermal generation, as provided for in the methodology.
From a statement issued by ARESEP:
The Regulatory Authority for Public Services (ARESEP) today submitted to public discussion, some modifications to the methodology used for calculating electricity tariffs, by way of thermal generation.
Public consultation is being carried out on the methodology for calculating tariffs for power generation from solid waste.
The drop in oil prices and high operating costs are not the only obstacles to projects generating energy from waste in Costa Rica. Now the Regulatory Authority of Public Services is calling for a public hearing in order to "start writing" a methodology, ordinary and extraordinary, that will determine the reference rates for power plants using municipal solid waste.
The change in methodology implemented by the Central Bank of Costa Rica in the National Accounts System sheds light on problems that cause lack of competitiveness, tax injustice and social inequity.
EDITORIAL
An editorial in Nacion.com draws conclusions on the need to adapt the measurement of GDP in Costa Rica, to the changes taking place in the economy at the end of last century and what has elapsed so far in the present one.
The Central Bank will stop using the productive structure of 1991 and move to a calculation that will take 2012 as the base year for estimating national accounts.
From a statement issued by the Central Bank of Costa Rica:
The new figures use the year 2012 as a reference and are based on the methodological guidelines established in the Manual for the National Accounts System 2008 (2008 SNA) and will allow standardization of classifications and nomenclatures used in macroeconomic statistics.
The Central Bank is considering changing the methodology for calculating the exchange rate market benchmark, with the aim of improving price formation and reflecting the generality of transactions.
The the monetary authority's aim is to "... improve the process of price formation in the foreign exchange market and, once that is achieved, an amendment will be proposed so that the methodology for reference exchange rates reflects what happens with the generality of transactions, and not just some of them. "
A proposal has been made to amend the methodology for calculating the passive base rate in colones and the creation of a new effective rate in dollars, which will be the national reference for savings rates in foreign currency.
The board of the Central Bank of Costa Rica (BCCR) has placed under public consultation a proposed amendment to the way in which the basic passive rate is calculated, which is intended to include all operations within the financial system and not just those the made for installments of between 150-210 days. Consultation will also be undertaken on the methodology for calculating a reference rate in dollars.
The formulas that determine the prices of products sold by the monopoly which is the state run oil company contain factors that create subsidies for gas and asphalt consumers at the expense of gasoline and diesel consumers.
An article published in Nacion.com reports on the results of an investigation into the calculation of consumer prices of automotive fuel, which states that since August 2008 changes have been put into effect to the formulas determined by the Regulatory Authority for Public Services (ARESEP), harming "... consumers of diesel and gasoline, who pay more per liter than the asphalt companies and gas users who save millions from the lower prices."
With the modification in the calculation methodology, total exports dropped almost $2.7 billion while the corresponding account for services exports increased by more than $600 million.
The Central Bank of Costa Rica has adopted the sixth edition of the Balance of Payments and International Investment Position (MBP6), which states that it exported goods consisting of only processing of intermediate products or raw materials will no longer be taking into account. The economic result of this work will now be included as income for manufacturing services.
The tariffs for electricity generated with solar power or biomass will be determined using the same methodology used for setting prices for the sale of hydropower.
The measure approved by the Regulatory Authority of Public Services (ARESEP) and applied to production of less than 20 megawatts, aims to foster the participation of a greater number of companies dedicated to the production of energy from renewable sources such as water, solid waste and other things.
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