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 […]
Like a lot of other expats, Susie and I chose to live in a small town in Panama rather than the City. The joy of riding down main street calling out to friends on a first name basis, both foreigners and Panamanians alike, is something you can tell people about but you need to be […]
Susie and I were in Panama City last week getting her Panama ID card and we decided to stay over night in Casco. Our choice was to stay at The American Trade Hotel. A TripAdvisor writer described this place best. “Stunning is the wrong word for the grace and beauty of this hotel. Sitting in […]
Venezuela Vice President Tareck El Aissami is much wealthier than senior United States officials originally thought, according to once inside source who spoke with EFE. It turns out that El Aissami has hundreds of millions of dollars in assets. US officials confirmed the amount after freezing El Aissami’s assets as part of sanctions levied against him for […]