Costa Rica News, Daily News in Costa Rica by the Tico Times

October 10, 2007
   
LOGIN | SUBSCRIBE | GUIDEBOOKS | ARCHIVE SEARCH | CONTACT US |
| Home
| Top Story
| Business & Real Estate
| Arts, Travel & Fishing >
| The Nica Times
| Daily News
| Letters to the Editor
| Photo Galleries>
| Classified Ads >
| Exchange Rates
Central Bank
Reference Rate

BUY 516.37 SELL 520.74
| Previous Daily News
| Monday | Tuesday
| Wednesday | Thursday
| Friday
Get a copy of the Costa Rica Tico Times Weekly Newspaper and Daily News Updates in PDF Format

Ballot by Ballot: Luis Gerardo Rodríguez is one of the Supreme Elections Tribunal officials manually counting ballots from the nationwide referendum on the Central American Free-Trade Agreement with the United States (CAFTA) held Sunday. Preliminary vote counts released that night showed a victory for the “yes” side, but the Tribunal will not release official results until the manual count is complete.

Christopher Huber | Tico Times

Landslides Close Three Roads in Costa Rica

Constant rain falling over the country yesterday caused mudslides to block three roads, according to a statement from the Public Works and Transport Ministry (MOPT).

Mabe Makes Offer for Costa Rican Appliance Manufacturer
The Mexican appliance company Mabe has made a bid for Costa Rica's homegrown appliance giant Atlas Eléctrica. The bid seeks to purchase all of Atlas Eléctrica's common and preferred shares for a total of $72 million.
Central American Leaders Applaud Costa Ricans Approving CAFTA

Central American Presidents yesterday congratulated Costa Rica on voting in favor of the Central American Free-Trade Agreement with the United States (CAFTA) in a nationwide referendum Sunday.

American Airlines Announces Nonstop Flight to Ft. Lauderdale

American Airlines will begin flying nonstop between San José and the U.S. city of Ft. Lauderdale, Florida, Dec. 13, according to a statement released by the airline yesterday.

Costa Rica Daily News updates by the Tico Times Newspaper
October 10

Rock-Jazz Fusion Concert
With Tierra de Nadie performing songs in Spanish, English, Italian and French, 9 p.m., Cuartel de la Boca del Monte, Barrio La California, San José.

Two Film Screenings
Mujeres en la Guerra,” and “Camilo,” 7 p.m., Sala Calle 15, Ave. 2, opposite Plaza de la Democracia, San José.

Women's Club Meeting
Photographer Jane Moore shares photos from trip to Africa , 9:30 a.m., ¢1,000 (about $2) donation requested, El Rodeo Hotel Country Inn, San Antonio de Belén, Escazú. Info: 244-6683, www.wccr.org.

40 th Anniversary of the Death of Che Guevara
Donde nunca jamás se lo imaginan,” film biography of Che Guevara, 7 p.m., Sala Gómez Miralles, Centro de Cine, San José.

Edited By Amanda Roberson
Tico Times Staff | aroberson@ticotimes.net


Landslides Close Three Roads in Costa Rica

Constant rain falling over the country yesterday caused mudslides to block three roads, according to a statement from the Public Works and Transport Ministry (MOPT).

Part of the road connecting San José with the Southern Zone town of Pérez Zeledón is blocked. Along Route 222 -- the road connecting the mountain town of Tarbaca, south of San José, with Río Conejo -- only cars narrower than two meters can pass, and no large vehicles can fit through.

The nearby Vuelta de Jorco road, or Route 209, can also only accommodate vehicles narrower than two meters.

Finally, along Cerro de la Muerte, the highest point on Inter-American Highway south, mud and rocks are covering about 10 meters of one lane.

The National Roadway Council is bringing machinery to clear these roads as quickly as possible.

Transport officials have not given a tentative time when these roads will be cleared since steady rains yesterday made it difficult for roadwork to get done, the statement said.

-Tico Times


Mabe Makes Offer for
Costa Rican Appliance Manufacturer

By Peter Krupa
Tico Times Staff | pkrupa@ticotimes.net

The Mexican appliance company Mabe has made a bid for Costa Rica's homegrown appliance giant Atlas Eléctrica. The bid seeks to purchase all of Atlas Eléctrica's common and preferred shares for a total of $72 million.

Mabe operates 15 manufacturing plants and has a presence throughout the continent. The company exports to the United States through a partnership with GE, which is a partial shareholder.

Atlas Eléctrica is a Costa Rican company founded here in 1961. It manufactures and sells kitchen appliances in all of Central America and the Dominican Republic under its Atlas and Centron brands. Its goods are manufactured at a plant in Costa Rica and altogether the company employs 1,300 people.

Atlas CEO Diego Artiñano said the company's high market share in Central America -- 50% in Costa Rica and as much as 60% in other countries -- makes the company an attractive acquisition.

Artiñano called it “nothing more than a coincidence” that the announcement came the week after Costa Rica approved a free-trade

agreement with the United States, adding that the deal has been in the works for months.

The bid must be approved by investors holding at least 98% of the company's stock. Though Atlas Eléctrica did not solicit competing bids, the company will consider unsolicited competing bids, according to a statement.

Shareholders will vote on the proposed buyout in a meeting Oct. 30


Central American Leaders Applaud
Costa Ricans Approving CAFTA

Central American Presidents yesterday congratulated Costa Rica on voting in favor of the Central American Free-Trade Agreement with the United States (CAFTA) in a nationwide referendum Sunday.

At press time, the Supreme Elections Tribunal (TSE) had counted 98% of votes, 51.6% of which were “yes” votes and 48.3% were “no” votes. Before Sunday, Costa Rica was the only signatory country that had not ratified the trade pact and the only one to do so via popular referendum.

Guatemalan President Oscar Berger yesterday congratulated Costa Ricans on their decision to support CAFTA in statements made in the daily Diario de Centroamérica.

He said Costa Rica approving CAFTA will help Central America in its negotiation of a trade agreement with the European Union. Regional integration is important in negotiations for this agreement, which are expected to begin Oct. 22, he said.

El Salvador's government seconded Berger's congratulatory words.

Costa Rica's decision “demonstrates that the region continues being a solid block with a vision of shared development that offers the necessary conditions to work in an integrated manner,” said a statement from Salvadoran Economy Minister Yolando Mayora de Gavidia.

The “yes” victory in Sunday's referendum “will facilitate the attraction of investment and increase confidence in the region, which is especially important considering a globalized world that's more and more competitive,” she said.

-ACAN-EFE


American Airlines Announces
Nonstop Flight to Ft. Lauderdale

American Airlines will begin flying nonstop between San José and the U.S. city of Ft. Lauderdale, Florida, Dec. 13, according to a statement released by the airline yesterday.

The route will be serviced by a Boeing 737-800 aircraft with space for 148 passengers. Flights will leave Ft. Lauderdale at 2:30 p.m. and arrive in San José at 4:25 p.m. and the return flight will leave San José at 5:25 p.m. and arrive in Ft. Lauderdale at 9:05 p.m.

-Tico Times

Costa Rica dentist, health, teeth whitening, crowns, dental implants, bleaching, crowns, permanent make-up
Tico Times, Costa Rica, travel guide, guidebook, beaches, rainforests, hotels, activities, restaurants
Costa Rica gated community, Costa Rican real estate, Santa Ana, living in Costa Rica, moving to Costa Rica
 
a
RETURN TO THE TOP OF PAGE

Home | SUBSCRIBE | ADVERTISE | GUIDEBOOKS | BACK ISSUES | ARCHIVE SEARCH | CONTACT US | ABOUT US | NEWSSTANDS | LINKS