SWIFT announces that Panama’s Bank Association, PBA, with regional membership of 71 domestic and international banks, endorses The Know Your Customer (KYC) Registry, a centralized repository that maintains a standardized set of information on correspondent banks’ requirements for KYC compliance. Mario de Diego, Executive Vice-President at Panama’s Bank Association, says, “The endorsement of SWIFT´s […]
At the end of third quarter the fiscal deficit as a percentage of GDP decreased from 4.6% in the previous year to 1.8%, while during 2015 current expenditures increased by 5%. From a statement issued by the Ministry of Economy and Finance (MEF): – MEF presents Fiscal Third Quarter Results – NFPS deficit was reduced […]
I picked this up from the Daily Maverick published in Johannesburg, South Africa. They have a unique blend of news, information, and analysis and chose to cover Panama this last week. The writers did a great job! Here is the story from Greg Mills and Lyal White. Along the Panama Canal, the types of businesses, […]
I almost rolled out of my chair when I saw this picture. Funny but I guess, when in the tropics… Colombia’s government plans to legalize the cultivation and sale of marijuana for medicinal and scientific purposes, officials said Thursday in a surprise shift by the longtime U.S. ally in the war on drugs. The change […]
Fiscal 2015 was a banner year for PortMiami. It not only saw the strongest container traffic in 10 years but also set a new record for cruise passengers. During the fiscal year that ended Sept. 30, containerized cargo climbed 15 percent to 1,007,800 TEUs, which are the equivalent of a standard 20-foot container. Nearly 4.9 […]
December 31st is the deadline set by the WTO for Costa Rica, El Salvador, Guatemala and Panama to stop subsidizing exports from free zones. In her article on Eleconomista.net, María José Saavedra analyzes “… the long road of extensions and extensions” which is coming to an end now with the World Trade Organization (WTO), […]
A plan is being made to develop residential buildings and a 614 room hotel complex in a 25 acres area in the touristic area of Rio Hato, Panama. The promoter of the project, Agro Playa Blanca SA, detailed in the Environmental Impact Assessment (EIA) submitted to the Ministry of Environment, that the development will be […]
OK Susie, it time to upgrade!! It’s your chance to live like the last days of the Ancien Régime. A massive waterfront mansion in Hillsboro Beach modeled after the French royal palace Versailles is on the market — for $159 million. Balconies, fountains, gates and doors are coated in $3 million worth of 22-carat gold […]
On 10 November 2015, World Heritage Centre Director Mechtild Rössler, and Panama Minister of Environment Mirei Endara, met for the first time since the establishment of the new government in Panama. The meeting focused on conservation issues in Coiba National Park and its Special Zone of Marine Protection and the forthcoming mission to the transboundary […]
Former U.S. President Bill Clinton is talking up the potential of renewable energy to shield developing countries from the effects of climate change. Clinton visited Central America’s biggest wind farm Tuesday. The electricity project in western Panama is scheduled to open next year with the capacity to produce about 6 percent to 8 percent of […]