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Dominican trusts manage over US$3.02B

In the Dominican Republic there are more than RD$160 billion (US$3.02 billion) in assets managed through the trusts, according to Christian Molina, executive president of the Association of Dominican Trust Companies (Asofidom). These resources are distributed in more than 900 trusts nationwide. “The main development of the trust has...

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Guatemala Eyes Joining S. Korea-Central America FTA

South Korea’s trade ministry said Tuesday it is currently under negotiations with Guatemala to invite the Central American country to a multilateral trade pact that fully went into effect this year. Trade Minister Yeo Han-koo met his Guatemalan counterpart, Antonio Malouf, in Seoul to discuss Guatemala’s entry into the free...

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Mexico Launches Reform to Put State in Charge of Power Market

Mexico’s leftist government on Friday pitched a constitutional reform to boost state control of the electricity market, in a move to reverse business-friendly energy legislation enacted by the previous administration. The reform announced by President Andres Manuel Lopez Obrador foresees giving the Comision Federal de Electricidad...

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El Salvador Has Just Started Mining Bitcoin Using the Energy from Volcanoes

El Salvador has mined 0.00599179 bitcoin, or about $269, with power harnessed from a volcano. President Nayib Bukele – who has banked his political future on a nationwide bitcoin experiment – tweeted early Friday morning that this is the country’s maiden voyage into volcano-powered bitcoin mining. On Tuesday, the president posted a...

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Cuba Begins Commercial Exports of Its COVID-19 Vaccines

Cuba has begun commercial exports of its homegrown COVID-19 vaccines, sending shipments of the three-dose Abdala vaccine to Vietnam and Venezuela. Cuban President Miguel Diaz-Canel announced the arrival of vaccines in Vietnam on his Twitter feed on Sunday. The official Cubadebate news website said the shipment included 900,000 doses...

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‘Choose Belize, We Are Open for Business,’ Government Declares in Opening of Investment Summit

Minister of State for Finance Christopher Coye and CEO Narda Garcia have launched Belize’s first ever Investment Summit, to be held in November partially virtually and at Grand Caribe Hotel in San Pedro Town. While Belize has seen great recovery in the first half of 2021, according to Coye, the future depends on easing the …...

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Central America and Its Economic Recovery from the Pandemic

To date, Panama and Costa Rica seem to be doing a good job in recent weeks in reducing the number of deaths from COVID-19, as well as in the percentage of the population vaccinated, compared to the rest of the countries in the Central American region. However, it is expected that the same region will …...

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UK Signs Partnership in Central America To Boost Trade

UK Export Finance has launched a new partnership with the Central American Bank for Economic Integration to support the development of projects in the region. Memorandum of Understanding (MoU) will enable closer economic collaboration between the UK and Central America. Countries that can benefit from the joint financing agreement...

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Once Again, Remittances Set A New Record; July’s Total Up 28% At US $4.54 Billion

Remittances sent to Mexico hit a new monthly record of US $4.54 billion in July, a 28.6% increase compared to the same month last year. It was the second time this year that a new monthly record was set after Mexicans working abroad, mainly in the United States, transferred $4.51 billion in May. It was …...

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El Salvador Congress Backs $150 Mln Fund for Bitcoin Ahead of Adoption

El Salvador’s Congress on Tuesday approved a law to create a $150 million fund to facilitate conversions from bitcoin to U.S. dollars ahead of the Central American country’s planned adoption of the cryptocurrency as legal tender next week. With 64 votes in favor and 14 votes against, Congress approved the fund as El Salvador,...

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