Preventing the participation of Colombian companies in the tender processes is one of the actions proposed by Panamanian businessmen as a retaliatory measure to the conflict over tariffs. “More forceful and effective action” is what the Panamanian Association of Business Executives is demanding of the Varela government, to defend the interests of Panama in the conflict […]
A tender will be launched once again for the design, construction and maintenance of works for the renovation of the Transístmica road on the stretch Plaza Agora – San Isidro Station. Panama Government Purchase 2016-0-09-0-08-LV-004 817: “The project has an approximate length of 10 kilometers, whose studies and designs start at the intersection with Ave. […]
Have you ever wondered how the largest ships in the world are able to cross Panama as they make their way from the Pacific Ocean to the Atlantic? The locks system in the Panama Canal are a modern engineering marvel, and how they work is now cleverly explained through this new Lego Education set. […]
Mossack Fonseca’s unit in BVI was fined $440,000 by island’s regulator. The Wall Street Journal discusses how the British Virgin Islands is dealing with the aftermath of the Panama Papers. On a visit to Hong Kong and China in October, officials from the British Virgin Islands urged businesses and families to register companies and store […]
Panama has seen a lot of changes over the last 10 years and this article in the Brown Political Review reflects up those changes. Panama City is an intersection. It lies between the Atlantic and Pacific Oceans; between jungles and man-made waterways; between colorful colonial Spanish architecture and towering skyscrapers; and between history and modernity. […]
In the first nine months of the year premium income barely exceeded $1 billion, growing by less than 1% compared to the same period in 2015. The premiums of insurance companies between January and September totaled $1.023 billion, registering a slight increase of 0.8% or $7.7 million compared with the $1,015 million in the same […]
Ecuadorian shipyard Astilleros Navales Ecuatorianos (ASTINAVE) on 10 November announced it is to construct three passenger boats for the Panama Canal Authority, as the yard continues expanding its clientele. For Panama ASTINAVE is to construct vessels that are 16 m long, have 23 kt maximum speed, and are to be delivered in March 2017. This […]
At the close of the 2016 fiscal year, the Panama Canal Authority (ACP) recorded the third-highest annual tonnage in its history, welcoming 330.7 million Panama Canal tons (PC/UMS). A total of 13,114 vessels transited the Panama Canal during the fiscal period from October 1, 2015 to September 30, 2016. Of these, 238 were neopanamax vessels […]
Up to the month of August the balance of the loan portfolio in the banking system amounted to $47.7 million, 9.9% more than in the same month in 2015. Although the latest official census figures on constructions were not very promising, this sector continues to lead the growth of credit in Panama. Up to August, credit […]
The Colombian ports of Cartagena and Buenaventura are Panama’s main competitors in terms of container terminals, the Panama Canal Authority, or ACP, administrator said Tuesday at a business forum. Both of those ports have been improving their installations and increasing their capacity for nearly a decade, since the Panama Canal began its much-publicized expansion, Jorge […]