Economy

Panama seeks to become Latin America leader in new Technology

This year Panama will present 130 technological patent applications to the Ministry of Commerce and Industries (MICI), which means that the country aspires to become the first in Latin America to generate applications through the Patent Cooperation Treaty (PCT). in English), when measuring the number of applications per million inhabitants, …

Economy

SUNTRACS hoped for agreement last night, still no end to strike

The Panamanian Chamber of Construction (Capac) and the Single Union of Construction and Similar Workers (Suntracs) sought to reach an agreement last night. However, at the close of this note (7:00 pm) they were still negotiating. Suntracs leader Luis Gonzalez said in the afternoon that there might be ‘white smoke’ in …

Economy

Panama signs new Free Trade Agreement with Israel

In the framework of the meeting between the president of Panama, Juan Carlos Varela and the Prime Minister of Israel, Benjamin Netanyahu, the signing of a Free Trade Agreement and a memorandum of understanding on agricultural matters was celebrated. The Free Trade Agreement, signed by the Minister of Commerce and …

Air Travel

Lufthansa (largest German carrier), and other airlines to increase traffic to Tocumen

The inventory of air frequencies is expanded. Several airlines have announced new frequencies from Panama in order to expand their service in the region and meet the demand of their customers. As of November 3 of this year, the German airline Lufthansa will add an additional frequency to its route Panama …

Economy

Parque Porras set for SUNTRACS assembly ahead of arbitration meeting

The construction workers affiliated to the Suntracs begin to arrive at the Porras Park for the General Assembly in the debate about the continuity or not of the strike that today has 27 days. The assembly is scheduled to start at 10:00 in the morning and according to the leaders …

Agriculture

Insect that ravages coffee harvest may have hope to being mitigated

When the rainy season begins, the insect of the coffee borer takes advantage to attack. The Hypotenemus hampei , also known as coffee borer, punches the mature grain and severely damages the quality and flavor of the product. Its effect is so devastating, that it reduces coffee production by 50% …

Economy

Class system struggles awash all of Venezuela under Maduro rule

Corina lives in a luxurious house but can not frequent restaurants; Federico , journalist, does not have for the cinema; and Alida , a seller, longs to eat chicken but it is not enough. Even with their class differences, the crisis changed their lives. The arepa – corn tortilla typical …

Economy

FACEBOOK enters alliance with Latin America; 1.9 Million Panamanian users

Facebook signed an alliance with Cisneros Interactive that makes the latter the official commercial representative of the social network in nine countries in the region: Panama, Puerto Rico, Guatemala, the Dominican Republic, Costa Rica, Uruguay, Bolivia, Ecuador and Paraguay. At present, 1.9 million Panamanians enter Facebook every month, of which …

Economy

CCIAP calls for oversight of discretionary spending

The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) yesterday asked the National Assembly to stop the discretionary use of State resources through the deputies. In a pronouncement of this business entity signed by its president, Gabriel Barletta, the CCIAP asks the members of the Assembly to fulfill the …

Economy

Spending leading to a large spike in debt, Warnings issued

Economists consulted by La Estrella de Panama pointed out that the increase in Central Government expenditures versus total revenues could increase the country’s fiscal debt. Much of that debt, they added, could be purchased to meet the commitments and campaign works of the current government administration, which is about to end. The …

Economy
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China continues to explore investing in Panama

A mission of the China Chamber of Commerce for the Import and Export of Machinery and Electronic Products (CCCME) is located in Panama to explore investment and business opportunities in the country. The delegation of more than 30 businessmen from the sectors of energy, urban construction, machinery, environment, electronic products, …

Economy

Increasing numbers of public debt released

The balance of the public debt rose to $ 23 thousand 673 million in the first quarter of 2018, reported the Public Financing Directorate . The figure represents an increase of one thousand 710 million dollars compared to the balance one year earlier. In March 2018, the Government received disbursements …

Economy

Subsidy approved for the SUNTRACS strikers

The Single Trade Union of Construction and Similar Workers ( Suntracs ) continued this Friday, May 4 with the granting of the strike subsidy to the workers who started this measure since April 18. + info $ 9 million, disbursement that Suntracs must assume in two weeks of strike Varela …

Canal

ACP and tugboat captains to meet today

Members of the Commission for Public Infrastructure and Canal Affairs of the National Assembly urged the directors of the Panama Canal Authority (ACP) and captains and mariners of tugboats to seek an understanding of the conflict between both parties. The transit through the neopanamax locks was interrupted on April 12 …

Economy

Uber service extension rejected

Carriers leaders yesterday expressed their rejection of the Government’s decision to allow an extension for six months (until October 31, 2018) so that operators of technology platforms such as Uber can cash in for the service provided. Carriers object to the modifications made by the Ministry of Government to Executive …

Economy

Young people in Panama finding it harder to get a job

When it comes to finding a job , young people have the most difficult task. Be men or women, live in Panama, London or the United States. In the Panamanian case, it is estimated that each year about 70,000 young people intend to enter the labor market, according to official …

Economy

Rice farmers ask for 10 million in government incentives

Next May 15, rice producers nationwide will have five and a half months of not receiving the payment of $ 7.50 per quintal that is part of the National Agreement for Agro, which dates from 2014 and will add $ 10 million to that date. Given this fact, the members …

Economy

Panama needs to create 30,000 jobs a year to maintain good unemployment rate

The country needs to generate 30 thousand jobs a year to maintain a healthy unemployment rate INTERVIEW The vice-minister of Economy, Gustavo Valderrama, focuses the fall of unemployment and retail consumption in the lack of specialized labor and a projection of the business sector based on the growth of the …

Economy

Gorgas Memorial Instititute pleads for new campus

The Gorgas Memorial Institute for Health Studies (Icges)  is a center for research and prevention of diseases inaugurated in August 1928, which over the years has become the reference laboratory of Central America. At present, the institution has established challenges, ranging from the construction of a new Gorgas Campus, the …

Economy

Consumer complaints surpass 14 million dollars in the Acodeco

Consumers affected by different reasons in the commercialization of goods and services presented 894 complaints for a total amount of $ 14,940,163.00, to the Consumer Protection and Defense of Competition Authority (Acodeco) during the first quarter of this year. The administrator, Oscar García, said that the attention of the complaints …

Economy

Miviot making housing progress in Curundu

With the work of emptying concrete in walls and slabs of apartments A10, A9, A8, A7 and A6 of building # 1, the Nueva Vida building project, built by the Ministry of Housing and Territorial Planning (Miviot) in the corregimiento of Curundú. Carlos Franco, national deputy director of Engineering and …

Economy

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 …

Economy

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 …

Economy

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, …

Economy

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 …

Financials

Agreement to put digital government in place signed

The initiative carried out by the AIG within the “Panama en Línea” Program with the Inter-American Development Bank In order to promote transparency, access to information and simplification of procedures, an inter-institutional cooperation agreement was signed between the Mayor’s Office of Panama and the National Authority for Government Innovation (AIG). …

Economy

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) …

Economy

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 …

Economy

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 …

Financials

CSS says there are almost 2000 complaints before the Public Ministry

The Social Security Fund (CSS) said in a statement that the Institution maintains 1,915 complaints before the Public Prosecutor’s Office The Social Security Fund (CSS) said in a statement that the institution maintains 1,915 complaints before the Public Ministry and 2,048 administrative cases. He explains that they have been sued, punished …