One down, 11 to go. Legislators passed the first of 12 laws required to implement the Central American Free-Trade Agreement with the United States (CAFTA) on Monday night. The law, one of the least controversial of the 12, regulates the relationship between foreign companies and their representatives in Costa Rica.

Join us Friday at 10 a.m. for our next online chat with Tico Times columnist Kate Galante. She'll answer readers' questions about the Spanish language, cross-cultural matters and English education in Costa Rica. Go to www.ticotimes.net/chat to log on and participate.

Outdoor Art Fair
Today through Sunday, 9 a.m.-9 p.m., Plaza Roosevelt, San Pedro. Info: 225-5660.

Timbiriche in Concert
Pop, 7 p.m., Pedregal Stadium, San Antonio de Belén. Info: www.specialticket.net.

Japanese Week Events
Featuring “Commercial Opportunities with Japan” conference, 2:30 p.m., Tryp Corobicí Hotel, San José; 6 p.m., “Metropolis” animated film screening, University of Costa Rica (UCR) Law School auditorium, San Pedro; 7 p.m., opening of contemporary Japanese engraving exhibit (runs through Jan. 4), Calderón Guardia Museum, Barrio Escalante; 7 p.m., Japanese film festival, Centro de Cine, San José.

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

Helping schools, promoting music and turning trash into crafts are among projects the Costa Rican-American Chamber of Commerce (AMCHAM) recognized businesses for yesterday during a corporate social responsibility awards ceremony.

The chamber chose Dole as the winner of this year's Contribution to the Community Award in the Large Company category. Dole's social, environmental and education projects include donating supplies to schools, awarding scholarships, helping families get their own homes and planting more than one million trees.

In the Small Company category, Eco Global S.A. took home the honor for its innovative Ule Kira project, which helps women's groups turn laminated wrappers used for chips, granola bars and other packaged foods into wallets, purses and other marketable crafts.

Also in the Large Company category, Procter and Gamble Costa Rica was recognized for its “Eliminating Barriers” project to equip schools for disabled students, and Intel won for its education initiatives including donating computers to schools and providing them to youth at the Intel Computer Clubhouse.

Honorable mentions went to Pfizer S.A., the Costa Rican-North American Cultural Center and Desarrollos Hoteleros Guanacaste, owner of Paradisus Playa Conchal resort on the northwestern Pacific coast.

The chamber gave this year's Alberto Martén Chavarría Award for media coverage of corporate social responsibility to the weekly El Financiero.

President Oscar Arias addressed a room full of business leaders and the press following the awards ceremony, praising the 13 companies that entered this year's contest.

“You all have demonstrated to the country that social influence is more than a food basket every Christmas,” he said. “Together, let's make this country an international symbol of corporate social responsibility. I propose that we take the solidarity of businesses and workers to the next level, so that it becomes an integral part of our national being.”

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

The exchange rate has settled down since the Central Bank's surprise move last week to drop the floor of its “crawling band” exchange-rate system.

According to the Central Bank's Web site yesterday, one U.S. dollar now buys an average of ¢496.47 and costs an average of ¢503.02.

There are some short-term winners and losers in the adjustment. Exporters – whose expenses are in colones and income is in dollars – are hit especially hard, while importers get a boost from the stronger colón.

Some analysts, however, are advising Costa Ricans to be cautious about making any drastic adjustments to long-term investments in dollars because of the change in the exchange rate, saying it's too early to tell if it's a long-term trend.

By Gillian Gillers
Tico Times Staff | ggillers@ticotimes.net