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 […]
The travel and tourism sector in Latin America and the Caribbean is projected to take a $110 billion hit due to COVID-19, says a new World Economic Forum report. Investment in infrastructure could bring back tourism as well as rebuild the economy. Public-private partnerships, improving technology and investing in infrastructure resilience are keys to building back […]
In the region, it is estimated that more than 4 million people show interest in the digital environment for supermarkets, being Walmart, Pricesmart, Paiz, La Torre, La Colonia and Super Selectos, some of the chains that have better positioned in the minds of consumers. An analysis of the interests and preferences of consumers in Central America, prepared […]
The Panamanian Assembly approved in first debate the bill creating the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing. This bill aims to create the Special Regime for the Establishment and Operation of Multinational Enterprises for the Provision of Services Related to Manufacturing (EMMA), in order to […]
Billowing dust trailed the van as it barreled down a dirt road. In the back seat, Faustin Dieumes held his pregnant wife, running the remnants of a damp napkin over her face. Her body was limp and one of her palms laid face up in her lap. The couple had gone two days without food […]
Fitch Ratings has assigned an expected rating of ‘BBB (EXP)’ to Banco Nacional de Panama’s (Banconal) proposed senior unsecured notes to be issued in the amount up to USD 1 billion at a fixed-rate interest rate to be set at the time of the issuance. The tenor is likely to be 10 years, and a […]
The Friday call to ‘the great popular protest’ against labor reforms in front of Parliament radicalized the actions by Panama’s labor sectors, which escalate the confrontation to the government, after a week of protests. During a Friday morning session, the legislators made the final analysis of the bill that will be voted on at […]