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Over 1 ton of Cocaine seized in Coast Arriba, Panama
Written on 4 Apr, 2009 at 19:40 in News in Panama | viewed times and users have made 0 comments so far
A joint operation between Panama and US authorities, codenamed ‘Operation Mar Sereno’ has netted 1,3 tons of cocaine, and the arrest of 7 Colombian suspects. The operation came about after a sailboat was spotted in Portobelo Bay, and was linked... (Continue reading)
Chinese Ethnic Day Celebrated in Panama
Written on 31 Mar, 2009 at 19:34 in News in Panama | viewed times and users have made 0 comments so far
Chinese Ethnic Group Day was acknowledged by the Panamanian government in 2004, and set for March 30 every year. The Chinese community has been very much involved with Panama over the last 150 years, and contributes towards the nation in... (Continue reading)
CAF Approves Loan for Panama Banking System
Written on 31 Mar, 2009 at 19:30 in Financial News | viewed times and users have made 0 comments so far
The Andean Development Corporation (CAF) has approved a $210 million loan for the strengthening of the liquidity of the Panama banking system. The funds are to be chanelled through the Banco National de Panama, the state institution that acts as... (Continue reading)
Tourism and Real Estate Sales affected by Global Crisis
Written on 31 Mar, 2009 at 19:26 in News in Panama | viewed times and users have made 0 comments so far
Although Panama is not as affected by the global financial slowdown, the President of the Chamber of Tourism in Panama, Jaime Campuzano claims the number of tourists has started to dwindle. This has been confirmed by both tourist operators and... (Continue reading)
History of the Panama Pacifico Site
Written on 27 Mar, 2009 at 18:48 in History of Panama | viewed times and users have made 0 comments so far
The site where construction is proceeding for the development of the Panama Pacifico project used to be the site of a United States Air Force Base. The base which was known as the US Howard Air Force base was a... (Continue reading)
Cane Honey Exports
Written on 27 Mar, 2009 at 18:32 in Financial News | viewed times and users have made 0 comments so far
Cane honey has proven to be an export hit for a family and their business from the Sabana Grande region in Los Santos. The family tried their luck at producing cane honey five years ago and is now paying dividends... (Continue reading)
Panama’s Agriculture under pressure
Written on 26 Mar, 2009 at 21:02 in News in Panama | viewed times and users have made 0 comments so far
The global financial situation has affected the levels of Panama’s export markets displaying less demand; however the agricultural sectors exports were not affected by the financial crisis, but rather due to high production costs. Meanwhile the production of bananas, and... (Continue reading)
Economic Growth Slows
Written on 26 Mar, 2009 at 14:44 in Financial News | viewed times and users have made 0 comments so far
Panama’s economic growth slowed down to a growth of 4,9%, compared to the same period in 2008. The economic growth of Panama has been affected by the fact that the global trade and recession problems have resulted in a lower... (Continue reading)
Special Property Tax Stopped
Written on 24 Mar, 2009 at 15:30 in Financial News | viewed times and users have made 0 comments so far
The proposed special tax on properties near the coastal strip has been scrapped, due to the fact that the Government has found other ways of financing the popular Coastal Strip. President Torrijos confirmed that the funding for the construction of... (Continue reading)
Panama’s Torrijos to visit Gautemala
Written on 23 Mar, 2009 at 23:20 in Politics & Government | viewed times and users have made 0 comments so far
President Martin Torrijos is visiting Guatemala and is the first head of state to do so since Colom took office in mid January. Following Torrijos’ visit the heads of state of Colombia, Brazil , Mexico and Venezuela will visit Gautemala.... (Continue reading)
Panama signs trade agreements
Written on 20 Mar, 2009 at 14:54 in Financial News | viewed times and users have made 0 comments so far
Panama has signed trade agreements with Guatemala and Cuba within the past few weeks. The Panama Cuba commercial agreement is set to boost bilateral exchange of goods and services over 700 product lines, and provides favorable import duties. The relationship... (Continue reading)
Panama seeks advantage on emerging market debt
Written on 19 Mar, 2009 at 15:21 in Financial News | viewed times and users have made 0 comments so far
Panama has sold over $320 million worth of bonds to mature in 2015, the bonds were sold at 101 cents to the dollar according to Bloomberg data, and will yield 7.04%. The sale of bonds is the reopening of the... (Continue reading)
Panama City
Written on 7 Dec, 2008 at 19:29 in Places in Panama | viewed times and users have made 0 comments so far
Situated in the province of Panama, Panama City is the country’s capital city. The city is the most modern in Panama, with luxury residences, famous international brand names establishing business here, vast parks, numerous high class hotels, shopping centers, restaurants,... (Continue reading)
Panama Tourism – The Figures
Written on 28 Nov, 2008 at 22:17 in News in Panama | viewed times and users have made 0 comments so far
A 19,3% increase in revenue generated from the tourism industry, via what tourists actually spent, was realized in the period January to August of 2008, compared to the same period of 2007. The amount which was spent by tourists was... (Continue reading)
Panama to expand diplomatic relations
Written on 27 Nov, 2008 at 23:14 in Politics & Government | viewed times and users have made 0 comments so far
Panama is seeking to expand its diplomatic relation base with several countries in Africa and the Middle East. The foreign ministry has reported that a formal request to establish diplomatic ties with Yemen has been received. This bodes well for... (Continue reading)
Brand Panama – launched by Trade and Industry
Written on 27 Nov, 2008 at 22:26 in Politics & Government | viewed times and users have made 0 comments so far
The proud nation of Panama had their own ‘brand’ launched by the Ministry of Trade and Industry. This brand image will project the true diversity and world class capabilities of the country. Carmen Gisela Vergara, who heads up the Trade... (Continue reading)
Darien Province
Written on 25 Nov, 2008 at 14:23 in Places in Panama | viewed times and users have made 0 comments so far
By far the largest province in Panama, with a measured area of 16,671 square kilometers, Darien is sparsely inhabited and populated with a mere 40,000 people occupying this vast province. Darien was officially proclaimed as a province in 1922. The... (Continue reading)
