In an auction process in which more than 200 investors from different parts of the world participated, the bank placed the debt at a rate of 2.5% for a 10-year term. This transaction is the first international bond issue in the capital markets of Banco Nacional in its almost 116 years of existence and represents the largest issue that […]
Panama, through which tens of thousands of migrants pass each year on their journeys north, is increasingly becoming the destination for Nicaraguans who have chosen to seek refuge by moving south. Since the U.S. has tightened immigration restrictions on its southern border, migrants have sought alternative locations such as Panama and Costa Rica, two of the more […]
The National Assembly approved in third debate the draft law establishing temporary employment protection measures in companies affected by covid-19. The initiative presented by the Executive received several modifications in its original content, both in the first and second debate, leaving the deputies with the reservation that these are temporary rules and are not intended to a future reform […]
While the rest of the country endured frequent downpours during the month of July rainfall in the Panama Canal watershed was 13.7% below the historical average. According to the, monitoring rainfall in the basin, so far this year, June was the only month when it reached 20% above average rainfall. In the rest of the […]
Earlier this month, the Panama Canal joined virtual informal talks organized by the International Maritime Organization (IMO). Although focused specifically on short-term measures for reducing GHG from ships, the discussions brought momentum back to the broader, industry-wide efforts around the decarbonization of shipping. These milestones, combined with recent industry announcements, not only signal a turning […]
The annual Best of Panama tasting has produced a new king of Geisha coffee which last year was auctioned for a record price of $1,029 a pound. This year’s auction will be in September. The tasting was to have taken place in May, drawing tasters from around the world to Panama. but in the midst of the […]
The Panama Canal Authority (ACP) announced an increase in the maximum authorized draft for ships voyaging through the Neopanamax Locks to 48 feet, or 14.63 meters, effective July 25. Previously the maximum draft was 47 feet, or 14.33 meters, effective July 8. As of July 25, vessels with drafts over 48 feet may be allowed […]
In order to attend with greater agility, now in Panama the Superintendence of Banks will be able to manage via e-mail the claims submitted to it. To speed up the processes for the attention of claims before the regulatory entity, the Board of Directors of the Superintendence of Banks of Panama (SBP), approved Agreement No. 8 -2020 […]
The announcement that Panama will begin in mid-August the phase one study of a ribonucleic acid vaccine against Covid-19, developed by a biotechnology company in Germany, has generated great expectation on Tuesday. On an interview with Radar television program, Dr. Eduardo Ortega-Barria, responsible for medical affairs of the Covid-19 Vaccine Research Consortium in the […]
First Quantum Minerals has cut its 2020 production guidance for its Cobre Panama copper project by as much as 105,000 tonnes and further lowered its group copper production guidance for the year due to the effects of the Covid-19 pandemic. The Vancouver, Canada-headquartered company had previously expected Cobre Panama to produce 285,000-310,000 tonnes this year […]