In 2016 the GDP of the industrial sector shrank by almost 3%, affected by a 12% drop in sugar production and 11% in beverage production. In the last two years, the contribution of the industrial sector to the economy has shrunk by $80 million, according to estimates made by entrepreneurs who are members of the […]
None of the pre-qualified companies submitted bids in the tender for the concession of the design, construction and operation of a container port in West Corozal, Panama. From the Panama Canal Authority: The Panama Canal Authority (ACP) reports that Friday was the deadline set out in the request for proposals for the submission of bids […]
The housing market, casinos, concert halls, and the livestock sector are all used to launder money in Central American countries. Excerpted from the report “International Narcotics Control Strategy Report, Volume II, Money Laundering and Financial Crimes” by the US State Department: Costa Rica Transnational criminal organizations continue to favor Costa Rica as a base to […]
In Panama the Chinese consortium Martano has submitted an environmental impact study to build a 423 MW combined cycle power plant in the village of Puerto Pilon, province of Colon. Data from the Information System on Construction Projects in Central Area Commercial provided by the Business Intelligence Unit at CentralAmericaData, shows that on December 1, […]
Staff shortages affect call centers in Panama TODAY PANAMA – The number of jobs in call center companies fell by 37% between 2012 and 2016, due to the difficulty in finding skilled labor for this activity. Limited supply of staff with the skills needed to work in a call center and higher wage demands […]
Joe Kirwin at Bloomberg writes of loopholes that exist that lawyers took advantage of. Switzerland’s lack of regulatory oversight for lawyers, as well as loopholes that allow them to ignore due-diligence rules, came under intense scrutiny at a European Parliament hearing probing Switzerland’s role in the year-old Panama Papers revelations. At the same time, […]
The non-implementation of policies, programs, and projects that help transform the country’s production, trade and projection abroad, affected the economy and contributed to a slow-down. According to the National Competitiveness Center (NCC), it is necessary to meet these challenges at a time when the Brexit and the recent presidential campaign promises in the US threaten […]
Ever wonder how coffeehouses in New York survive paying top rents when so many customers sit for hours stirring their $3 coffee? Pourt is a new entry that has an answer: it combines an appealing coffee bar with a separate co-working space that charges by the hour or day. Pourt, which opened late January 2017, […]
More road improvements in Panama is always good news, a little painful but worth it in the end. The Ministry of Public Works in Panama is inviting bids for the renovation of 61 kilometers of roads in the province of Cocle. “Project aims: -Renovate, repair and improve the road network in the region, to provide […]
Wingo’s inaugural flight between Panama City/Balboa and Cartagena was welcomed with a water arch salute on 23 February. The airline will offer three weekly flights between the two airports, facing indirect competition from Copa Airlines and its subsidiary, Copa Airlines Colombia, which both serve the city pairing, but operate from Panama City’s main airport – […]