Venezuela said on Thursday it was halting commercial relations with Panamanian officials and companies, including regional airline Copa, for alleged involvement in money laundering, prompting both countries to recall their ambassadors. The resolution names Panamanian President Juan Carlos Varela and nearly two dozen Cabinet ministers and top-ranking officials, and says that Panama’s financial system had […]
The bill put forward by the Varela administration proposes regulating the operation of crowdfunding platforms, and creates the concept of Family Offices of Patrimonial Administration. From a statement issued by the Ministry of Finance: The Cabinet Council approved on Tuesday the Bill for the Modernization of the International Financial System of Panama, which seeks to […]
In Panama, a list of Panamanians convicted of money laundering, as well as lists issued by the US, Canada and the United Kingdom, will start to be compiled and published. With the aim of preventing money laundering and terrorism, the National Commission against Money Laundering, Financing of Terrorism and Financing of Weapons of Mass Destruction […]
For the fiscal year ending September 2018, the authorities foresee that the cargo that will transit through the Canal will reach 431 million tons, 7% more than in the previous period. According to the Panama Canal Authority, the main reasons for the predicted growth in cargo passing through its facilities are the improvement registered in […]
Earlier this month, the Panama Canal hosted international experts at an event to discuss ways the global maritime community can adopt more sustainable practices to deliver on their commitments to reducing carbon emissions. During “The Green Connection and the New Challenges of the Maritime Industry” event, the Panama Canal welcomed international experts including Dr. Alkut […]
Panamanian hoteliers are now trying to counteract the impact of the high costs of air tickets, which in the airlines” criterion respond to the increase in airport taxes and the fuels” price. According to the CEO of Copa Airlines, Pedro Heilbron, the arrival of more tourists depends not only on advertising and discounts that […]
The container port China is building in the Atlantic entrance of the Panama Canal is 30 percent done and it is the biggest Asian investment in the Isthmus until now. In only nine months, the project executed 310 million dollars in values, of the 1.1 billion included in its first stage, reported spokespersons of […]
China and Panama City are now connected through Air China via Houston. Air China opened up its first fifth freedom route from the United States to Panama, an addition to its five-times-weekly flight from Beijing to Houston. Despite flying to Houston throughout the week, the flight to Panama will only operate two days a week […]
A visit from the FIFA World Cup Trophy Tour™ by Coca-Cola has helped build the already-feverish excitement in Panama, a country eagerly anticipating its first-ever global finals at Russia 2018. Met by fans already full of suspense in the Central American nation on the back of a historic first qualification, having seen President Juan Carlos Varela […]
The Government of the Republic of Panama adopted new immigration measures to continue boosting tourism, trade and investment with the economies of Europe and emerging countries. By Executive Decree, Panama lifted immigration restrictions for citizens who hold a Schengen visa or current residence in the European Union; and approved the flexibilization of visas for the citizens of India. The […]