Category: Economy
Panama economy news: growth, prices, jobs, public finances, trade and the business decisions affecting residents, investors and expats in Panama.
Dolega banking on organic brown sugar
The producer Arcadio Pitty explained that the process for the confection of the candy consists first in cutting the cane of sugar Dolega With the objective of promoting the activity of panela or raspadura, the farmers of Palma Real and Rovira de Dolega, in Chiriquí, manage with MIDA that their product is certified as organic…
Comptroller saw problems with SIPE in 2013
The authorities of the Social Security Fund (CSS) reported this week that it was not until April 2018 when they could “close valves” and establish controls, to prevent more employers from committing unlawful payments of the employer’s contribution through the System of Income and Economic Benefits (SIPE) . The director of the entity, Alfredo Martiz…
Banking budget is between 20 and 30 percent for regulation compliance
Carlos Troetsch, president of the Panama Banking Association, said that from 20 to 30% of the banking budget is destined to comply with regulations. In the framework of the Annual Conference of Business Executives, the banker described as “extraordinary” the number of requests for information and compliance from different entities, which has made these departments…
APEDE says beating corruption is the key to being competitive
CADE has remained as the showcase of knowledge par excellence and within the framework of the 60 years of APEDE The Annual Conference of Executives CADE 2018 develops its version # 51 with the theme: Competitive Panama for a global economy Are we ready ?, Bets on the competitiveness of the country, will be three…
National Hemocenter receives 4.5 million dollar allocation
After the approval in the third debate, this week, of the bills of law No. 581 and No. 539, the first to regulate the services of blood transfusions and blood banks, and the second in order to create the Board of a National Hemocenter , the Ministry of Health (Minsa) expects that President Juan Carlos…
Cable & Wireless denies they used SIPE dishonestly
Cable & Wireless Panama , responsible for the support and maintenance of the Income and Economic Benefits System (SIPE) of the Social Security Fund (CSS) , assured that it has no interference in “the dishonest practices of the users of that platform”. The company made the previous clarification after the publications in the media, including…
Superintendency of Banks warns of cryptocurrency risks
The activity of exchange, investment, purchase and sale in general bitcoin, does not have a specific regulation The Superintendency of Banks of Panama (SBP) warned today about the precaution and adequate advice that must be taken for the use of cryptocurrencies such as bitcoin, as well as others of the same category that do not…
How the U.S. Federal Reserve affects Panama
The Federal Reserve (FED) is the central bank of the United States that, through its monetary policy, regulates and takes actions to influence the availability and cost of money, in the behavior of credit to help promote economic objectives . Any change in the economic situation of the United States affects the rest of the…
Phase 2 of the Panama Exporta program announced
The objective of the program is to promote the export culture in the country based on the high quality of the products The Ministers of Commerce and Industry, Augusto Arosemena, and of Agricultural Development, Eduardo Enrique Carles, announced the start of the second stage of the Panama Export Program. The second part of the…
AAUD makes surprise inspection in Casco Antiguo
The Urban and Domiciliary Cleaning Authority (AAUD) carried out a surprise operation for more than 500 shops in the Casco Antiguo. In some businesses, irregularities were detected, such as evasion of the cleaning fee, delinquency and residential collection status; what violates the rule and evades the payment corresponding to the activity they develop. So far this…