Panama’s Finance Ministry said it went to the bond market on Tuesday, raising $2.58 billion in a three-part deal that mixed cross-border notes with local bonds. The sovereign issuer sold $1.25 billion worth of new 2032 bonds to yield 2.252% and added $1 billion to 3.87% 2060 bonds at a yield of 3.28%. It also […]
Correos y Telegrafos of Panama will invest $20 million in its upgrading plan, which will be focused on providing door-to-door service and delivery of parcels from around the world. According to representatives of Panama‘s Post Office and Telegraphs (Cotel), nowadays the packages that arrive to the country from Miami take an average of three days, due […]
Authorities in Panama’s northwestern province of Bocas del Toro have intercepted a string of vessels carrying large amounts of cocaine, a sign that traffickers are using the archipelago as part of long-range Caribbean Sea routes as pandemic border closures hamper overland movement. Panama’s National Aeronaval Service (Servicio Nacional Aeronaval – SENAN) seized almost three tons of cocaine in […]
The Panama Canal concluded a long period of drought and is currently offering the Neopanamax ships its maximum draught of 50 feet (15.24 meters), thanks to water-saving measures and recent rains. According to a press release from the Authority of the Panama Canal (ACP), each foot (0.30 meters) of allowed depth accounts for some 330 […]
Click on the pic above to watch video. The International Chamber of Commerce has ordered a construction group to repay $240 million to the Panama Canal Authority, in the latest development related to disputes over extension works for the canal. Sacyr SA, the Spanish builder that controls 42% of the group, will be able to […]
This is a great post from Simon Black at Sovereign Man who has been coming to Panama over the last 17 years as well as numerous countries around the world. At the turn of the 20th century, the United States had recently become the largest economy in the world… and it was showing. The US […]
Worsened by the confinement situation due to the pandemic, Panama’s cracked justice system has been left ‘naked, an ‘endemic evil and in need of immediate modernization. The stark assessment came from by Panama’s e Chamber of Commerce, Industries and Agriculture (Cciap) on Sunday, September 20. The organization gives as an example the fact that in […]
he Electoral Tribunal (TE) has extended – until January 31, 2021 – the validity of all personal identity cards including permanent resident cards for foreigners living in the country. that are expired or expire before that date. The called on banks and institutions that request the identity card to carry out a procedure to accept […]
Police in Panama say they have detained two Panamanian nationals who were travelling in a car carrying 79 packets of illegal drugs. Local media have identified one of the detained as the governor of Guna Yala, Erick Martelo. He has since been removed from office. The police said they had been acting on a tip-off […]
Taylor International has recently established a new dealer, Montacargas Panama Pacifico, S. A., in Panama City, Panama, according to Hal Nowell, Director of Sales for Taylor International. “Panama is a very central and dynamic market and extremely important to Taylor International, and we made it a priority to partner with a dealer that could provide […]