Italy’s top utility Enel (ENEI.MI) is working with Morgan Stanley to sell its Fortuna hydroelectric plant in Panama as part of broader disposal plans, three sources with knowledge of the matter told Reuters. The process recently kicked off, the sources said, with Enel inviting possible bidders to submit indicative offers for the business, which […]
Did former Panamanian President Ricardo Martinelli break the law when he directed an alleged spying mission against his political enemies? Or is he merely a victim of the current Panamanian president’s effort to bring him back from Miami to his homeland to face criminal charges? A Miami federal judge who has already denied Martinell’s […]
A former Mexican state governor from President Enrique Pena Nieto’s Institutional Revolutionary Party will remain jailed in Panama until he is extradited to his home country where he is wanted on corruption charges, a Panamanian judge said on Wednesday. Roberto Borge, who was governor until last year of the state of Quintana Roo, the […]
Brazilian construction company Odebrecht has agreed to pay Panama a $220 million fine and provide information about Panamanians who received bribes, prosecutors said Tuesday. Chief prosecutor Kenia Porcell said the payment is part of a deal reached July 26. Porcell said 24 Panamanians and 13 Brazilians may face charges. She didn’t name them, but two […]
As reported in Reuters, the head of the Panama Canal Authority said on Monday a Miami-based arbitration board rejected a demand by Spanish-led GUPC consortium for $192.8 million to cover cost overruns during the building of a third set of locks for the century-old waterway. GUPC or Grupo Unidos por el Canal includes Sacyr SA […]
The government is negotiating four loans totaling $245 million for social investment projects with three multilateral lenders. In the Quarterly Report: Situation, evolution and risk of public financing in Panama“, four loans with three entities are under negotiation: $50 million with the European Investment Bank, $70 million with the CABEI, and another two for $125 million […]
As reported in Reuters, Panama’s government will send a delegation of senior security and trade officials to China for talks beginning on Tuesday, the first such diplomatic mission since the two nations established relations nearly two months ago. Panama’s envoys will meet Chinese Public Security Minister Guo Shengkun, besides top Beijing security and migration officials, […]
The dismantling of 14 organizations dedicated to human trafficking this year has allowed to rescue about 150 victims in the country, the Ministry of Security (MINSEG) of Panama informed. Sexual and labor exploitation, and human organ trafficking, are the most common crimes found in those operations, although the former is the majority, Rodrigo Garcia, […]
Jan de Nul and China Harbour Engineering Co. (CHEC) have won a contract worth $165 million to design and build a new cruise terminal on Panama City’s Amador Causeway. The firms’ joint venture, Cruceros del Pacifico, will complete the terminal within two years, according to industry media. The Panama Maritime Authority (AMP) envisions the new […]
Travelers who want to transit the lakes and locks of the Panama Canal will have eight Holland America Line ships and 19 cruises to choose from between fall 2017 through spring 2018. In addition to the full transits, ms Zuiderdam will offer two Southern Caribbean & Panama Canal Sunfarer itineraries that feature a partial […]