News Briefs

Week in Review December 31

TRANSITS UP

Some 500 transits were registered in the expanded Panama Canal up until last week, amid a decrease of revenues from fewer transits of smaller ships. According to figures from the Comptroller’s Office, up until October, there was a 6.8% decrease in the transit of ships through the Panama Canal and $51 million less in tolls compared to the same period of the previous year.

PAID UP

Panama Canal Authority (GPA) administrator, Jorge Quijano, […]

Week in Review – December 20

CLOSURES SPREAD

The difficult situation facing the Colon Free Zone is a matter of concern for the Colon Free Zone Users’ Association of the commercial emporium, since they indicate that now there is not only the closure of small companies, but also of large ones that generate hundreds of jobs. According to figures compiled by the Comptroller’s Office, there is a 10% drop in the commercial movement of the Free Zone registered up to last […]

Week in Review November 17

Colón is on the up

In his speech on the occasion of the “National Holidays” in the city of Colón, President Juan Carlos Varela listed the projects that are being carried out to renovate this town on the Atlantic coast and the province in general. Currently, the Government has invested more than one billion dollars in Colón, distributed in 48 projects, not including the construction of the Port-Shipping hub of this city. Varela announced that […]

Week in Review October 19

Expensive education

The constant complaints about the high cost of private education has generated a great conflict between parents, school owners and the Legislative Organ. There are at least five bills proposing reforms that could affect the money families put aside for their children’s education. The new bills propose such things as tax incentives for parents; the expansion of the so called “Universal Scholarship”, only given to students who go to schools where the annual […]

Week in Review – October 4

HEALTHY CANAL

The administrator of the Panama Canal Authority (ACP) Jorge Luis Quijano, said that the health of the waterway as a company “is very good” and that it will make this year’s contributions to the State of above $1,000 million. “The health of the Canal is very good, with contributions from surplus, plus tolls, which will exceed one billion dollars, which is very good for any company,” said Quijano, addressing journalists shortly before participating […]

Week in Review September 20

CANALS AT WAR

The Panama Canal wants to remain competitive, but refuses to raise tolls in the “price war” which, in its opinion, has been launched by the Suez Canal in Egypt, which is offering up to “65% discount,” said the administrator of the waterway. According to Jorge Luis Quijano, these discounts are causing many ships that head for the east coast of the United States to return to Asia through the Egyptian route instead […]

Week in Review September 5

NEW AIRLINE AT COLON

Air Freight Caribbean (Taeca) will become the first company to use the almost intact facilities of the Enrique A. Jimenez Airport in Colon. With an initial investment of $120,000 in offices and $600,000 projected for the initial operation, the Panamanian company will begin operations once the aeronautical certifications are issued to acquire their aircraft and aviation permits as a national company.

CANAL BUDGET

Panama’s National Assembly approved on third and final […]