News Briefs

Week in Review – Vol. 33 No.30

WORKERS UNITE

Workers of the ports of Cristobal and Balboa require the Ministry of Labor and Workforce Development (Mitradel) to observe and comply with the right to unionize. The legal representative of these workers, Martín González, said more than 500 employees of Panama Ports Company have taken to the streets to protest for the Mitradel to comply with the ruling of the Supreme Court in favoring the creation of a union since 2010 that they [...]

Week in Review – Vol. 33#29

National newsbriefs

PERU EYING PANAMA

Peru aims to boost its exports to Panama and expand its industrial presence in the country, hence its wide representation at the next Expocomer (March 26 to 29). Panama is among the eight major investors in Peru with almost $1,000 million in direct investment and bilateral trade in 2013 reached $700 million with a favorable balance for the Andean country. In 2013 Peru had 13 exhibition booths at Expocomer Panama, [...]

Week in Review – Vol. 33 No.28

National newsbriefs

RODMAN EXPANDS

The Cabinet authorized the Ministry of Finance (MEF) to celebrate by exceptional procedure with Amador Marina, a contract for leasing, investment and development of seven hectares in Amador to build a marina. The President and his ministers also endorsed for the firm Serviamérica Corp., a lease and investment, with first option, of a site of 12 hectares in Rodman for a multimodal port.

CUSTOMS SHAKEUP

The replacement of the director of [...]

Week in Review – Vol. 33 No.27

CANAL BLAME GAME

President Ricardo Martinelli blamed the former administrator of the Panama Canal Authority (ACP) Alberto Alemán Zubieta, for the current crisis paralyzing the expansion work on the waterway. “Alberto Alemán Zubieta is responsible for what is happening. He knew what could happen and should have taken this into account”, the president said in an interview on his (Martinelli’s) NexTV channel.

INTENSE TALKS

After three weeks of intense negotiations, the Panama Canal Authority (ACP) [...]

Week in Review – Vol. 33 No.26

Colon Free Zone

CFZ FEELS PINCH

The commercial activity in the Colon Free Zone (CFZ) closed 2013 at $27,900 million, down 9.4% compared to the previous year, which was $30,800 million. This fall, according to a report on banking published by the Superintendence of Banks of Panama (SBP), corresponds to the current situation faced with two major trading partners: Colombia and Venezuela.

FUND RAISING?

The $100 million paid to the government by businessmen of the Colon Free Zone [...]

Week in Review – Vol. 33 No. 25

National newsbriefs

RISK SHIELD

The former administrator of the Panama Canal, Alberto Alemán Zubieta, revealed details of a system used by the canal to secure a shielded contract in awarding the tender for the third set of locks. Alemán Zubieta, who headed the canal until September 2012, said all items were considered to measure the risks of the work through the lens of international independent technical advisors in the selection process, including auditors and qualified [...]

Week in Review – Vol. 33 No.23

National newsbriefs

EUROPEAN INTEREST

The Panamanian government announced that the European Investment Bank (EIB) is exploring the possibility of financing new infrastructure projects in the country such as the Metro Line 2 and a new bridge over the Panama Canal. A delegation from the EIB, led by its chairman, Werner Hoyer, and Vice-president, Magdalena Álvarez Arza, met with the Minister of Foreign Affairs of Panama, Fernando Nunez Fabrega, to evaluate this possibility, said a Panamanian [...]