Citi to Sell its Operations in Central AmericaTuesday, October 14, 2014 The group has announced that as part of its long-term strategy it will withdraw from the consumer banking business in Costa Rica, El Salvador, Panama, Guatemala and Nicaragua. Extract from a statement issued by Citigroup: GE sells BAC-Credomatic in Central America to Grupo AvalThursday, July 15, 2010 GE Capital Global Banking announced today that it has reached a definitive agreement to sell BAC Credomatic to Grupo Aval, Colombia’s largest banking holding group, for $1.9 billion. The transaction is subject to certain regulatory approvals and other customary conditions, and the parties anticipate closing by the end of 2010. HSBC changes strategy for opening in GuatemalaMonday, November 24, 2008 HSBC will modify its request to open in the country; instead of one branch, it is looking to set up as a local bank. HSBC (the Hong Kong and Shanghai Banking Corporation) has still not landed in the Guatemalan financial market, the only country in Central America where it is missing, and to date this continues to be uncertain as the request process has been changed. The New Owners of BAC-CredomaticTuesday, July 20, 2010 Luis Carlos Sarmiento Angulo, one of the richest men on earth, is the owner of Grupo Aval, which controls some of the largest banks in Colombia. Grupo Aval agreed to purchase 100% of the shares of BAC-Credomatic from GE Capital for $1.9 billion. Currently, GE owns 75% of BAC-Credomatic and agreed to buy the remaining 25% to sell it to Grupo Aval. HSBC Closes Office in GuatemalaFriday, May 20, 2011 The bank Hong Kong and Shanghai Banking Corporation (HSBC) argue that the main reason for the closure is the effects of the global economic crisis. In October 2009 the bank had set up the office which was dedicated to providing services to importers, exporters, multinational and transnational companies as well as offering trade services, loans and foreign accounts. Eurobonds: Risk Rating ConfirmedMonday, November 11, 2019 Standard & Poor's has given a B+ rating to the $1.5 billion debt issue that Costa Rica expects to place in the international market in November. "Global Ratings today assigned a "B+" rating to the prospective reopening of Costa Rica's notes which have a 7.158% rate maturing in 2045 and a "B+" rating in its planned issuance of notes maturing in 2031, the latter issue still does not have a defined trading rate," the rating agency said on November 8. Asia's Potential for GuatemalaWednesday, October 29, 2014 Wood, seafood, coffee and frozen vegetables are some of the products already going to Asia and the aim is to promote the opening of a sales office in Hong Kong. According to Guatemalan authorities, the main import partner is China and in exports it is Japan. In 2013 exports to Asia generated $897.7 million, however, this figure is expected to be greater by the end of 2014, as Asian demand has increased. Company Profile
METAGRO is a Guatemalan based manufacturer that provides high end solutions of agricultural transport equipment, we are focused on helping customers be more productive as they help to improve the quality of life for people around the world. Guatemala: Construction Industry Keeps Up MomentumThursday, October 8, 2015 The sector grew by 5.8% in the first half of the year, it has seen eight consecutive semesters with positive growth rates. Business people in the sector believe that the political crisis did not have any negative effects on the sector, which managed to register growth of 5.8% in the first half of the year. The same view is taken of the tax on cement that was declared unconstitutional in August but was charged up until July. Wood Industry Set to Double ExportsTuesday, July 6, 2010 In the next five years, Guatemala's wood industry expects to sell twice as much as it does now. According to the forecasts by Cofama, the sector may export as much as $140 million in 2011. International Merchant Marine of Belize Company Profile
The International Merchant Marine Registry of Belize (IMMARBE) is under the Ministry of Finance, with its Head Office located in Belize City. The Registration of Merchant Ships Act, 1989 as amended in 1996 governs the merchant fleet. Guatemala: Official Economic Data 2012Friday, December 13, 2013 Because of delays in collecting the figures in 2012 the performance of the main economic activities have just now been released. According to a report from the National Statistics Institute (INE) for 2012 the services sector registered 22 million cell phones and 1.7 million fixed lines. The FAO supports small farmers in Central AmericaTuesday, December 2, 2008 The initiative will provide aid to small farmers in Panama, Belize, Costa Rica, El Salvador, Honduras and Guatemala. The investment of $12 million will be used to produce 32,000 metric tonnes of seed valued at $52.7 million, according to the Panama America daily. Opportunities in the Food SectorTuesday, September 4, 2012 A Free Webinar is to be given on opportunities in the food sector according to age groups in emerging markets. On the website of the Costa Rica Foreign Trade Promotion Office (PROCOMER) Www.procomer.com, there is a report that on October 2 a ‘Lifestages2012’ webinar will be held, which is being organized by Nutraingredients and FoodNavigator, and will focus the latest opportunities for the food industry, detailed according to different age groups. Guatemala: Good Signs for ConstructionWednesday, January 2, 2013 In 2013, growth is expected because of the wholesale execution of public works, reconstruction of infrastructure damaged by the earthquake, and better financial conditions. According to a report by the Monetary Board (MB), the performance of the construction sector will grow by 7.7%, after having reported moderate rates in 2011 and 2012, and a fall of 11.5% in 2010. |
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