News Briefs

Week in Review May 16


Revenues of the Colon Free Zone (ZLC) for 2018 could improve slightly, while the site recovers from a commercial crisis that resulted in a tax and tariff reduction for its users.


The expansion of the Panama Canal generates good results. Since its inauguration, from June 26, 2016, to April 30 this year, toll revenues exceed $528.6 million. Over 1,000 neo-panamax ships (an average of 5.9 ships per day) have transited the […]

Week in Review April 18


Panama’s Cabinet approved seismic surveys in the open sea to determine if there is oil or natural gas reserves, a source from the National Energy Secretariat (SNE) told the news agency Efe. The geophysical survey will take place only 15 kilometers from the coasts and not on the mainland, in a 40,000 kilometer layout, according to a document from the SNE that indicates that the first analysis will catalog the areas chosen as […]

Week in Review March 22


After a well-known bad year, Panamanian ports began 2017 with a strong expansion in their economic activity, according to statistics from the Panama Maritime Authority (AMP). According to figures from the AMP, the movement of TEUs (29 ft container equivalents) grew 17.5% in January 2017. In this first month, the ports moved 597,000 containers, up from 508,000 in January 2016.


The pilots, deck officers and engineers of the Panama Canal and […]

Week in Review March 6


Panama will outperform Chile as a result of greater economic growth, but the measure does not reflect persistent inequalities. Panama will be the country with the highest GDP per capita measured by purchasing power parity in Latin America in 2018. This is the projection made by the International Monetary Fund (IMF). Taken into account are the calculations that point to Panama as the fastest growing economy.


An improvement in the economies of […]

Week in Review February 7, 2017


Sacyr and its partners Impregilo, Jan de Nul and Constructora Urbana S.A. (CUSA) which are part of Grupo Unidos por el Canal (GUPC) called for precautionary measures before the Miami arbitration court in response to pressure from the Panama Canal Authority (ACP) after GUPC recently claimed $300 million in advances for finished work. The news was released by the newspaper “Expansión”, a Spanish newspaper that has specialized in economic issues since 1986.


With […]

Week in Review January 24


The Panamanian government announced that it suspended the purchase of two vessels from the Colombian Navy for about $30 million because of a pending bilateral tariff dispute that was decided in favor of Panama by the World Trade Organization (WTO). The purchase of the vessels, agreed last October, “was suspended until we can resolve the trade dispute,” said the Panamanian Minister of Commerce and Industry, Augusto Arosemena, during the presentation of his management report […]

Week in Review January 12


From Switzerland the bribes were paid in Panama. Investigations in Switzerland confirm the payment of bribes during the government of Ricardo Martinelli Berrocal. Without revealing even the names of the Panamanians who received these bribes from Odebrecht – the largest contractor of the Panamanian State – Switzerland confirmed the existence of bank accounts that would have reached more than $20 million in illegal payments.


The government of Juan Carlos Varela announced that […]