Economy

Years after Mossack/Fonseca and “Panama Papers”, our country still WASHING a great deal.

https://www.laestrella.com.pa/nacional/220524/panama-obtiene-alta-puntuacion-opacidad Panama is responsible for 1.4% of financial secrecy risks worldwide. This is established by the Index of Financial Secrecy (IFS, for its acronym in English), which is prepared by the Tax Justice Network, an international network for tax justice based in London, which reveals the extent to which countries can …

Canal

Putin’s senseless war affecting GLOBAL supply chain. In particular, PANAMA.

https://www.laestrella.com.pa/economia/220519/guerra-ucrania-frena-recuperacion-economica   The war in Ukraine is slowing down the fragile economic recovery that the world had begun after the covid-19 crisis, the UN said on Wednesday, lowering its global growth forecast for this year from 4% to 3.1% and warned that the deterioration may end up being even greater. …

Economy

Amazing!! I agree with Nito on Crypto stance.

There has not been much that I have agreed with under the leadership of Cortizo. Yet I find it refreshing he is taking a measured and intelligent approach in these uneasy economic times to gather more information on this “made up” money of Cryptocurrency. https://www.laestrella.com.pa/economia/220519/cortizo-negara-firmar-proyecto-ley-regula-criptomoneda During his participation in the …

Canal

How is Ukraine war affecting Panama supply chain?

https://www.laestrella.com.pa/economia/220315/220316-productos-panama-mas-importa-ucrania-verse-afectados-guerra Although in the trade balance the volume of trade between Ukraine and Panama is not as high compared to other countries in the world, there are certain productive sectors that could be affected by the Russian invasion and by the increase in fuel costs that is being generated in …

"JB"

EX-PAT ALERT: Beware Crypto Currency offerings in Panama.

I just saw a very riveting documentary on NETFLIX entitled “Trust No One- The Hunt for the Crypto King” https://www.netflix.com/pa-en/title/81349029 I have ALWAYS been of the opinion that “Crypto” is nothing more than some dystopian millenial created bullshit!!  In like “Hey, we can’t go out and make REAL money, so why …

Economy

Great article about the “Impunity” I have mentioned occurring in Panama. Global “Black List”

While the government is preparing for a face-to-face meeting with the Gafi in May and September, the World Compliance Association, a chapter in Panama, says that the first problem that Panama has to tackle is ‘to see the real problems as a country when it comes to to comply with …

Economy

As Russia sanctions tighten, Panama sees rise at the pump.

https://elsiglo-com-pa.translate.goog/panama/precio-gasolina-diesel-aumentan-desde-este-viernes/24195767?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_sch=http The price of gasoline and diesel suffer another increase. This Friday, at 6:00 am the new maximum prices come into effect Increase. The price of gasoline and diesel suffer another increase. This Friday, at 6:00 am The new maximum sale prices of liquid fuel in Panama begin to take effect. In the provinces of …

Economy

Panamanian “Staycations” are boon to economy during Carnival.

https://elsiglo-com-pa.translate.goog/economia/200-millones-genero-turismo-interno-durante-dias-asueto-carnavales/24195549?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_sch=http The average cost per person between food, transportation and recreational activities is around 200 balboas An economic impact of approximately 234 million balboas in internal tourism was generated during the holidays due to the celebration of the Carnival party, according to the Statistics Department of the Panama Tourism Authority …

Economy

Bean counters BULLISH on Panama recovery for 2022

https://www.laestrella.com.pa/economia/220221/panama-mantiene-proyecciones-estables-2022 Despite the shocks caused by Covid-19, the Panamanian economy remains afloat and the figures remain stable with an upward projection at the end of 2022. This means that there will be a recovery of important items in the economy, according to Torino Economics, the subsidiary of Torino Capital Group …

Economy

Interesting look into Panama bay growth.

A visible retrospective of Panamanian growth over the years. https://www.laestrella.com.pa/nacional/220219/transformacion-frente-costero-ciudad-panama   The vertiginous process of transformation of the sea front of Panama City has been characterized by legal controversies, regarding the legality or not of transferring as private property, the filling of areas such as the seabed, mangroves and beaches. …

Dow

Retirees suffering through rough 2022 so far with market swings.

For the Ex-Pats that are financially dependent on their 401Ks and Retirement accounts, the foreseeable future will be a test of patience and resolve. The tensions on the border of the Ukraine in lockstep with the anticipation of a March Interest rate hike have the markets struggling to adjust.  Every …

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 …