Economy

David sees the opening of first major US Hotel chain as tourism seeks 2021 rebound.

https://www.prensa.com/resena-digital/hampton-by-hilton-abre-sus-puertas-en-david-el-primer-hotel-de-bandera-internacional-de-la-ciudad/ The opening of the hotel responds to the economic growth of Chiriquí and to the new demands of the market. David is the main commercial center of the province and from there commercial activities related to agricultural and livestock production are developed, the main lines on which the Chirican economy …

Economy

SUNTRACS unhapy with progress of resumption of projects.

https://www.laestrella.com.pa/nacional/201116/suntracs-reporta-reincorporacion-13-mil-obreros-puestos The general secretary of the Single Union of Construction and Similar Workers (Suntracs), Saúl Méndez affirmed that as of Monday, November 16, 14 thousand workers have been reinstated to their jobs. This he said is important because the figures in March of suspended contracts were 23 thousand workers, that …

Economy

Panama chooses Astra-Zeneca as multiple vaccines on verge of approval.

The Government of Panama approved this Wednesday in the Cabinet Council, Cabinet Resolution 93-20, which authorizes the Ministry of Health (Minsa), to proceed with the purchase of one million 92 thousand doses of the vaccine to prevent covid-19, from the British pharmaceutical AstraZeneca UK Limited, in association with Oxford University, …

Economy

Panama City crawling back to life as restaurants are up and operating.

With dividers and panels up…..dining sees an uptick in the city. https://www.prensa.com/impresa/economia/80-de-los-restaurantes-estan-operando-ventas-suben-10/ Four weeks after the restart of operations after being closed for more than 7 months, the Association of Restaurants and Related Products of Panama, reports that 80% of the stores are operating. Domingo de Obaldia, president of the …

Economy

With country open, new cases still will occur.

https://www.laestrella.com.pa/nacional/201004/panama-reporta-633-casos-nuevos-covid-19-9-nuevas-defunciones Panama reported 633 new cases of covid-19, for a cumulative total of 115,286. To date, 5,249 tests were applied, for a positivity percentage of 12.1% and 9 new deaths have been registered, totaling 2,423 accumulated and a fatality of 2.1%. Active cases total 21,054. In home isolation, 20,211 people are …

Economy

Something to look at for Ex-Pat owners of income properties.

https://www.prensa.com/impresa/panorama/reforma-a-la-ley-sobre-arrendamientos-se-mantiene-en-consulta/ The Ministry of Housing and Land Management (Miviot) consults with various sectors to make changes to Law 93 of October 4, 1973, which dictates measures on leases in the country. The draft of a change proposal, which the Miviot sent to some unions on September 8, has raised criticism among …

Chiriqui

What is “Bojal’a” and what does it mean to Chiriqui?

ANSWER: Delicacy fish to be farmed responsibly with US corporation. https://www.martesfinanciero.com/portada/el-golfo-de-chiriqui-atrae-millonaria-inversion-en-acuicultura/ The US-owned company Forever Oceans Panama will plant bojalá in the Gulf of Chiriquí and its first production will be exported to the United States in 2021. In October 2020, a US investment group will begin planting bojalá on …

Economy

Nito plans to fine tune reopening. ( Bad news for his underlings that are fleecing country)

https://www.laestrella.com.pa/economia/200430/panama-afina-plan-reapertura-economica The Panamanian government refines plans for the gradual reopening of the country. The president, Laurentino Cortizo, said he has been working on the plan for the new normal and hopes that by tomorrow it will be “quite well tuned.” Cortizo said he hopes that the plan for the new normal …

Economy

Pay attention to your leaders in times of crisis PANAMA.

DIRTY POOL being PLAYED ABOUND https://www.prensa.com/impresa/panorama/leyes-no-facilitan-despilfarro-de-fondos/ The pandemic crisis justified the granting of an exception within the Public Procurement Law to the Ministry of the Presidency , which has become some questionable contracts. The pressure to acquire urgent goods to attend to health problems and the speed of the state response face …

Economy

Panama poised to rise after Corona subsides according to Moody’s.

https://www.laestrella.com.pa/economia/200416/panama-sera-pais-rico-america-latina-2021-calificadora-moody-s Risk rating agency Moody’s evaluated Panama rated the country’s investment grade in baa1 with a stable expectation and strong growth in the medium term, although in lower percentages than in the last decade. Said rating is subject to very specific factors that the firm trusts will be implemented in …

Economy

PNO revisiting topic of Panama beachfront. Crucial vote forthcoming.

I/E: Don’t F- – K this up people!! https://www.prensa.com/sociedad/semana-crucial-para-el-futuro-del-proyecto-de-recuperacion-de-playas-en-la-ciudad-de-panama/ Amid a controversial debate about whether it is necessary to invest about 120 million dollars in the project to recover beaches in Panama City, this week defines the future of this initiative that drives the City Hall. Voices for and against …

Economy

Amid bad news,,,,,Panama economy showed strong growth in 4th Quarter.

https://www.prensa.com/economia/economia-cerro-el-2019-con-3-de-crecimiento/ The Panamanian economy grew 3% at the end of 2019, which meant an increase of $ 1,256.8 million, to end with a gross domestic product (GDP), in absolute terms, of $ 43,061 million. The indicator was reported the afternoon this Monday, March 2 by the National Institute of Statistics …

Colón

Superhero movie bringing needed jobs to impoverished area of Colon.

https://www.prensa.com/economia/las-plazas-de-empleo-que-genera-la-filmacion-de-escuadron-suicida-ii/ A group of colonists showed satisfaction for the employment opportunity generated by the shooting of the film Suicide Squad II , which uses locations between 7th and 9th streets and Amador Guerrero and Justo Arosemena avenues, in the city of Colon. Sequence of ‘Suicide Squad II’ will be filmed in the …

Economy

WOW, a massive contract that Odebrecht did not win. Pinch me.

https://www.prensa.com/economia/metro-de-panama-adjudico-hoy-a-consorcio-hph-joint-venture-diseno-y-financiamiento-de-la-linea-3/ The Panama Metro awarded the HPH Joint Venture Consortium on Tuesday, February 4, the design, construction of civil works and financing of the third line of the transportation system. The HPH Consortium is made up of the Korean Hyundai Engineering & Construction and Posco E&C. The ACPC Consortium, formed by the Spanish Acciona …

Economy

Official handoff to new Comptroller.

https://www.laestrella.com.pa/nacional/191230/humbert-entrega-llaves-despacho-nuevo-contralor-gerardo-solis Federico Humbert made the official delivery of the keys of the superior office to the new comptroller, Gerardo Solís, marking the end of the transition process. Solís will begin his duties next Thursday, January 2, 2020. The symbolic delivery of the keys occurred in parallel to a tour of …

Colón

ODEBRECHT campaigning for 72km of Infrastructure work in Colon.

After losing tenders to build the extension of line 1 of the Panama Metro to the Villa Zaíta sector and the expansion of the Concepción-Volcán highway, in the province of Chiriquí, combined projects exceeded 280 million dollars, the Constructora Norberto Odebrecht (CNO) prepares to dispute two new state contracts. It …

"JB"
1

Dovetailing off Steven’s post: PANAMA #1 destination of Conde’ Nest. Bocas: Get your shit together.

OP ED: James “JB” Bryson: Timing is everything. Just the other day my son in law posted his first OP ED not relating to legal about his recent travel and the possibility of seeing more of Panama. Well the world seems to think that there is much to see here …

Canal

2019 ends with 6.2% increase in goods through the Canal.

https://www.laestrella.com.pa/economia/191009/6-2-ano-2019-canal Despite the economic and commercial situation in the international environment, the tonnage of cargo by the Canal maintained its dynamism, according to the figures of the Panama Canal Authority (ACP). According to statistics, the Canal closed fiscal year 2019 with a 6.2% increase in tonnage, compared to the previous …

Economy

LA ESTRELLA reports on bleak outlook for Panama youth.

https://www.laestrella.com.pa/nacional/190918/aguda-crisis-buscar-jovenes Panama faces the worst youth unemployment crisis of the last thirteen years. During the administration of Juan Carlos Varela, the population aged 15 to 29 increased by 64,511 people – 83% of them economically active -, which resulted in the increase of young people who neither study nor work …

Crime

IDB refuses to partner in future with corrupt ODEBRECHT.

https://impresa.prensa.com/panorama/Odebrecht-lista-BID-corrupcion_0_5388961136.html The construction company will not be able to participate in projects financed by the multilateral bank until 2024, after recognizing illegal payments in Brazil and Venezuela. Brazilian construction company Norberto Odebrecht (CNO) was disabled to participate in projects financed by the Inter-American Development Bank (IDB) until August 2024. info …

Economy

Cortizo to finally appoint the new director of CSS (Social Security) Fund.

https://www.prensa.com/sociedad/noche-sabra-nombre-director-CSS_0_5385961359.html The president of the Republic, Laurentino Cortizo , declared in El Espinal de Guararé, in Los Santos, that tonight he will announce the name of the new director of the Social Security Fund (CSS). info President Cortizo: in a month it will be known who will be the new …

Economy

#1 watchdog delivers another “F – You” to the Assembly. Panama will miss Humbert.

https://impresa.prensa.com/panorama/Diputados-beneficiaron-donaciones-Asamblea_0_5379212103.html Deputies and former deputies of different political parties in the country are mentioned in the audits delivered by the Comptroller to the Public Ministry (MP) on the management of contracts and donations from the National Assembly. info ‘That of the forms are guayabitas’: Tito Rodríguez Assembly again prevents the …

Economy

Our neighbors have it very bad in tumultuous Venezuela.

http://laestrella.com.pa/venezuela/salario-venezolano-llega-punto-bajo-historia/24135210 To date, the price of the dollar is 14,483.54 bolivars – official value set by the Central Bank of Venezuela – a figure that has multiplied unstoppably since the beginning of the current year Venezuela’s minimum monthly salary has reached its lowest point in the country’s history, on Tuesday …

Economy

The National Assembly got who they wanted, now let’s see how he does.

https://www.prensa.com/politica/Gerardo-Solis-electo-contralor-Republica_0_5372462726.html The lawyer Gerardo Solís , former electoral attorney and former magistrate of the Electoral Tribunal (TE) , was elected with 68 votes in favor and 2 abstentions by the plenary of the National Assembly , the afternoon of this August 13, as the Comptroller of the Republic, in replacement …

Economy

Assembly preparing 20 questions for outgoing Humbert. They hate the guy that calls out their SHIT.

https://www.prensa.com/politica/Asamblea-cuestionario-preguntas-contralor-Humbert_0_5368713091.html The second vice president of the National Assembly , the deputy of Molirena Tito Rodríguez , reported this Thursday, August 8, that they prepare a questionnaire of about 20 questions for the comptroller of the Republic, Federico Humbert . info Assembly again prevents the entry of auditors from the …

Economy

We look back at Varela as Nito era begins.

OP ED: Based on what we reported on during the year, thought this would be higher. I’m pissed I can’t rant a bit more. “JB” https://www.prensa.com/politica/millones-dolares-publicidad-gastaron-Varela_0_5339466030.html During the five years of administration of President Juan Carlos Varela , (2014-2019), the investment in advertising amounted to $ 26 million 447 thousand …

Economy

Third approved moratorium seeks to rectify what ANATI failed on previously for tax benefit.

The Economy and Finance Commission of the National Assembly approved this Wednesday in the second debate the bill 745, which allows a third moratorium, for the payment of property tax in surcharges. The president of the Assembly, Yanibel Ábrego, affirmed that the approval was born in response to the popular …

Economy

IMF forecasts Panama to grow back at 5% up from 4% in 2018

After 2018, with projected growth of around 4%, the most moderate in the current decade, projections indicate that the country’s economy will rebound at rates above 5% in the short and medium term. MEF: Panama is set to return to the FATF gray list Debt grows $ 2,710 million Panama’s …

Agriculture

ALTRIA- (US company that owns MARLBORO) enters the Cannabis business.

One of the largest tobacco companies in the world has launched the cannabis market with an investment of $ 1.8 billion in Cronos Group , a Canadian medical and recreational marijuana company. Altria , which makes Marlboro cigarettes, is acquiring a 45% stake in Cronos. He added that the tobacco …

Economy

Debt grows but remains in lockstep with Economic Growth

The debt of the non-financial public sector increased by $ 322 million during the last year and stood at $ 24,376.7 million at the end of July. $ 24,386 million debt Since 2014, when the government of President Juan Carlos Varela began , the increase is $ 6,750 million, according …