European banking giant Nordea has agreed to pay $35 million to New York’s financial services watchdog following an investigation into the Helsinki-based bank’s alleged failure to prevent money laundering and other criminal activities, including some exposed in the Panama Papers leak. The New York State Department of Financial Services said it had identified “significant compliance failures” between […]
Recently, the National Office of the Codex Alimentarius of the Ministry of Commerce and Industries (MICI) of Panama participated in a twinning event with Colombia. During this activity, scientific knowledge was exchanged and the food regulatory system was strengthened, aligning Panamanian practices with the international standards of the Codex Alimentarius. Joseph Gallardo, food engineer at […]
The Government of Panama has implemented a comprehensive action plan to protect the Darién National Park, declared a World Heritage Site by UNESCO, an ecosystem that houses a unique biodiversity, and where the migratory flow has generated a relevant impact on natural resources and indigenous communities that live in the area. “The migratory phenomenon in […]
The Cabinet Council, headed by President José Raúl Mulino, approved on Tuesday the Cabinet Decrees that authorize the creation of two trusts aimed at promoting the financing of Micro, Small and Medium Enterprises, as well as promoting sustainable economic recovery through investments that contribute to improving the productivity and sustainability of the Panamanian productive fabric. […]
The Ministry of Commerce and Industries (MICI) announced that three major multinationals, including Anheuser-Busch Inbev, the world’s largest beer producer, have decided to establish their operations in Panama, in a period of just over 60 days. This movement not only represents a significant economic injection, but also brings with it the creation of new jobs, […]
While South American nations like Brazil and Colombia have earned worldwide acclaim for their high levels of avian diversity, North America is no slouch when it comes to top-tier birdwatching destinations either. Case in point: Panama, a verdant Central American country that offers a particularly diverse array of landscapes in spite of its small size. […]
The president of the Panamanian Chamber of Construction (Capac), Alejandro Ferrer, said that by the end of this year they have a projection of a growth of 10% in the construction sector, because they have seen with optimism the entry of the new government. He assured that although he is trying to clean up some […]
In order to facilitate Panamanian access to the banking system, executives of the Panama Banking Association (ABP), met with the President of the Republic, José Raúl Mulino, to achieve some points in consensus towards that objective. President Mulino said that he is very interested in banking for Panamanians, so that everyone has a bank account, […]
The Panama Canal expects to be ready to combat a possible new drought, which could hit the world’s second-largest waterway within four years, by accommodating larger vessels, securing dedicated passage for some ships and expanding its water reservoirs’ capacity, its chief, Ricaurte Vasquez, said on Monday. The canal authority has announced a return to 36 […]
Panama’s Secretary of Energy, Juan Manuel Urriola, announced that the country is preparing to relaunch ethanol production as part of a strategy to position itself as a regional leader in biofuels. The announcement was made during the “Regional Ethanol Seminar”, where the importance of this initiative to promote a more sustainable energy future in the […]