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Band Festival
July 9, 8 p.m., Melico Salazar Theater.

Singing and Guitar Recital
Performed by Ivette Ortiz (Soprano) and Andrés Saborío (Guitar), July 9, 7 p.m., Spanish Cultural Center, Barrio Escalante, Av. 13, Ca. 31. Info: 2257-2919, www.ccecr.org.

Trip to Río Indio and Hike in Corcovado
Organized by Mundo Expeditions, both include guide, transportation, meals, and lodging, July 9-11, further information at 2280-1991.

Conference on Social Nets and Business
Dictated by Dave Morin (Co-Creator of Facebook) and Dom Sagolla (one of the creators of Twitter), July 9, 8 a.m.-5 p.m., Real Intercontinental Hotel, registration at 2520-2005, www.laboleteria.co.cr

Vacation Workshops
For kids 5-12, including Feeding Zoo Animals, Nature Explorers, Treasure Hunting, Farmer for One Day, Forest Artists, Zoo Detectives, Zoo Adventure, July 6-18; Zoo Nights, July 8, 10, 15, 17; Anniversary Party, July 25, 10 a.m., Simón Bolivar Zoo, Barrio Amón, registration at 2256-0012, www.fundazoo.org.

Storytelling Festival
Features “Stories of Writers of the World,” by Alaputense Group, Juan Santamaría Museum; Tropezones Group, at Casa de la Cultura, San Antonio de Belén, both on July 10, at 5 p.m.

Play “Joaquín and Violeta”
Play for children, July 10, 10 a.m., Spanish Cultural Center.

Trip to Braulio Carrillo National Park
Organized by Los Congos Ecology Group, July 11, 8 a.m. Info: grupoloscongos@gmail.com.

“Gol e Arte”
Collective exhibit with soccer theme, through July 11, José Figueres Ferrer Culture House, Barrio Escalante, 300 m north, 300 m east of Santa Teresita Church.

Bon ArtPetit 2010
Art contest based on Manet's “Le déjeuner sur l'herbe,” deadline July 30. Info: 2222-2283, adecorne@afsj.net. 

Free Biking Tour
Everyone is welcome to ride their bikes July 11, 8 a.m.-noon, leaving from María Auxiliadora Church to the Basilica, Cartago. Info: 2592-5362

Costa Rica's National Emergency Commission (CNE) issued a yellow alert Thursday afternoon for the Southern Zone due to heavy rainfall in the region. The alert is in effect for Pérez Zeledón, Buenos Aires, Osa, Golfito, Corredores and Coto Brus.

The heavy rains are due to a low-pressure system that has been building along the Pacific coast. Intense rainfall is forecasted along the Pacific slope, and average rainfall is expected in the Central Valley and the Northern Zone.

The yellow alert is the second of the country's three alert levels. CNE officials recommend that residents in these areas maintain a close watch on the weather and river levels throughout the weekend.

On Thursday, strong rains provoked a 50-meter-wide rupture in the Río Claro dike near Golfito. The fracture caused flooding in La Esperanza, a nearby community, and the torrents blocked a small stretch of the Inter-American Highway.

Rains have also caused landslides along the road to Puerto Jiménez, on the Osa Peninsula.

The landslides have left stranded residents of La Balsa, a community of 26 families roughly two kilometers northwest of Puerto Jiménez. As of Thursday afternoon, the CNE had not been able to communicate with anyone in La Balsa.

The northwestern province of Guanacaste and the Central Valley are under green alert, the lowest of the country's three alert levels.

A 5.0 magnitude earthquake shook Costa Rica Thursday at 10:31 a.m.

The epicenter was 10 kilometers southwest of Orotina, a town just inland from the central Pacific coast. The tremor occurred at 40 kilometers below the earth's surface, according to the Volcanological and Seismological Observatory of Costa Rica (Ovsicori), based at the National University.

Shaking was felt throughout the country, Ovsicori reported. The National Emergency Commission and the Red Cross had received no reports of damage or injuries at press time.

The National Seismological Network (RSN), based at the University of Costa Rica, recorded the tremor was a 4.2 magnitude shake and struck 55 kilometers deep. The RSN reported that the epicenter was six kilometers southeast of Orotina.

The U.S. Geological Survey recorded the quake at 4.5 magnitude and 35 kilometers deep.

Each institute has its own equipment in different locations and measuring at different depths. As a result, magnitude and location readings often differ.

As foreign businesses keep looking to invest in Costa Rica, a new study shows that these businesses are doing their homework. Costa Rica is the best place in Latin America to start a new business, according to an analysis by the World Bank's Investing Across Borders 2010 program.

Costa Rica and Peru topped the list while Venezuela and Ecuador were considered the worst places to start a foreign subsidiary. The Latin Business Chronicle compiled and analyzed the research that originally looked at 87 countries, including 14 in Latin America. The report came from a survey of 2,350 experts from April to December 2009.

Costa Rica scored the highest in ease of establishment ratings. Costa Rica also received high marks in the two other factors looked at by the study: the number of procedures needed to start up a subsidiary and the number of days needed to go through the procedural steps. Costa Rica requires 14 procedures and 63 days to establish a basic foreign-owned company (limited-liability company or LLC). According to the Latin Business Chronicle, while this is shorter than Latin America's average, it is about even with the global average.

Peru ranked first in number of procedures (11), and Colombia finished first in time (27 days). Colombia was tied with Honduras as third best in Latin America. Meanwhile, Venezuela's score was the eighth worst worldwide. That country had by far the worst ease of establishment, required the most procedures (19) and took a massive number of days, 179, to finish the process. The Latin American average for time was 74 days.

However, other than Venezuela and a few other low-ranking countries ( Ecuador, Guatemala and Nicaragua ), Latin America has many factors making it beneficial to foreign investment.

“Countries in Eastern Europe and Central Asia and Latin America and the Caribbean have fewer equity restrictions on (foreign direct investment) ownership than economies in the other regions,” the bank wrote.

For more information on the World Bank Group's study on Costa Rica, click here.

Source: http://www.latinbusinesschronicle.com/app/article.aspx?id=4340

Best and worst countries in Latin America for starting a foreign business

Sources: Investing Across Borders 2010/The World Bank; Latin Business Chronicle (ease of establishment index ranking)