The rating agency Fitch Ratings has confirmed the ‘A+(pan)’ rating with Stable Outlook for Xtra Supermarkets, both in its long-term financial position and in the issuance of bonds for USD 250 million. The measure reflects the solid financial health of the chain and its ability to fulfill its obligations of one of the largest supermarket […]
The Panamanian president, José Raúl Mulino, officially started this Wednesday (09.18.2024) the construction and coating work of the first underwater transport tunnel that will pass under the Panama Canal, a major engineering work intended for Metro Line 3. “Put in motion the tunneling machine that will build the tunnel of Line 3 of the Panama Metro, which […]
The company of Argentine origin dedicated to foreign trade, logistics and customs, Interborders, is committed to becoming one of the main competitors of the Panamanian market and expanding regionally. The CEO and founder of Interborders, Lucas Bianchi, indicated that as part of its start-ups in Panama, the company has created 15 direct jobs and about […]
The Bogotá Free Trade Zone (ZFB) has announced its international expansion to Panama, reinforcing its position as a global reference industrial hub, so through the Panamanian market it seeks to boost the competitiveness and logistical efficiency of its users in the region. According to the executive president of Grupo ZFB, Juan Pablo Rivera, the free […]
By mid-2025 the first construction work could be taking place with hiring people in the field, mobilization of equipment, earth movement and the camp, according to the Project Manager in David, engineer Nicolás Posada. According to Posada, to start in this constructive phase that will begin to be two years of construction, the total number […]
The Maritime Authority of Panama (AMP) held a meeting with the owners of marinas in Bocas del Toro to plan strategies that speed up maritime processes and promote the arrival of sailboats, yachts and megayachts to the national territory. In this initial meeting, the Deputy Administrator General of the AMP, Alexander De Gracia, spoke with […]
Panama signed a memorandum of understanding with the South Korean Ministry of Land, Infrastructure and Transport on strategic collaboration in the development of key infrastructures in the country. Representing Panama was Henry Faarup, secretary general of the Railway of Panama. According to a statement from the Presidency, this agreement establishes bilateral cooperation focused on the exchange of railway policies, laws […]
European banking giant Nordea has agreed to pay $35 million to New York’s financial services watchdog following an investigation into the Helsinki-based bank’s alleged failure to prevent money laundering and other criminal activities, including some exposed in the Panama Papers leak. The New York State Department of Financial Services said it had identified “significant compliance failures” between […]
Recently, the National Office of the Codex Alimentarius of the Ministry of Commerce and Industries (MICI) of Panama participated in a twinning event with Colombia. During this activity, scientific knowledge was exchanged and the food regulatory system was strengthened, aligning Panamanian practices with the international standards of the Codex Alimentarius. Joseph Gallardo, food engineer at […]
The Government of Panama has implemented a comprehensive action plan to protect the Darién National Park, declared a World Heritage Site by UNESCO, an ecosystem that houses a unique biodiversity, and where the migratory flow has generated a relevant impact on natural resources and indigenous communities that live in the area. “The migratory phenomenon in […]