The agency has kept the sovereign debt rating unchanged highlighting the stability of growth and diversification of the economy, which gives the country the ability to cope with adverse external conditions. From the press release by Standard & Poor’s: Panama‘s continued strong economic growth prospects, increasing economic diversification and resilience, and moderate […]
Of the countries on the isthmus Costa Rica, Guatemala and Panama stand out as countries that are causing “great concern” in this matter. From the report by the US State Department: “International Narcotics Control Strategy Report Volume II – Money Laundering and Financial Crimes” March 2015: Costa Rica Transnational criminal organizations increasingly favor Costa Rica […]
The beginning of the automatic exchange of information between financial institutions between USA and Panama has been postponed until September 30, 2016. From a statement issued by the Ministry of Economy and Finance: The Ministry of Economy and Finance (MEF) today informd the Panama Banking Association (ABP) that the United States Department of the Treasury […]
Florida is a battleground for agricultural pests and diseases from other countries, and the situation is going to worsen when more imports arrive via the Panama Canal and travel to and from Cuba increases, Florida Agriculture Commissioner Adam Putnam said Wednesday. Florida Agriculture Commissioner Adam Putnam gave a State of the Industry Update during the […]
After 11 years of absence, the Chamber of Commerce and Industry of Panama (CCIAP) reopens today ExpoMédica 2015, aiming to promote medical services and health products. The biennial fair aims to present advances in the fields of human and veterinary medicine, for which is confirmed the presence of some 75 local and regional companies specializing […]
Metro de Panama has awarded Consórcio Línea, a Brazilian/Spanish consortium of Alstom, CIM, Sofratesa, Thales and TSO, a $2.2 billion contract to supply Line 2 of the Panama Metro system on a turnkey basis. Consortium leader Alstom, whose share of the contract is approximately $338 million, will supply an integrated rapid transit system that includes […]
The Panama Canal Authority, or ACP, is maintaining an April 2016 start date for the revamped inter-oceanic waterway, although it said Wednesday it was still waiting for the consortium in charge of the expansion project to deliver a technical report on leaks affecting one of the walls of the third set of locks. “The April […]
Panama’s Supreme Court on Wednesday approved two new investigations against ex-president Ricardo Martinelli, adding to a growing list of corruption probes targeting the former president. In one of the new cases, Panama’s stock market regulator asked for an investigation into whether Martinelli, through the brokerage firm Financial Pacific, was insider trading on shares of Canadian […]
Thabata Molina at the PanAm Post writes that drug seizures increased 16 Percent from 2014 and so far in 2015, Panamanian authorities have seized 12,050 kilograms of narcotics. The Panamanian coastline is under constant surveillance by authorities on the lookout for illegal drug-trafficking operations. In the last six years alone, the National Air and Naval […]
The government says it has completed the action plan agreed with FATF and requested they visit the country to check for compliance, in order to speed up the process to leave the list of countries considered as tax havens. From a statement issued by the Ministry of Economy and Finance: The government of Panama has […]