national newsbrief

Week in Review – Vol. 34 No. 10

National newsbriefs

ELECTION CALL

The Panamanian Association of Merchant Marine Officers (Apom) formally demanded that the Superior Council of the Panama International Maritime University (UMIP) “make an immediate call” for new elections for the rector. The request comes amid a legal dispute with the suspended rector, Victor Luna Barahona, claiming office after elections last October.

HELPING GREECE

After the financial crisis facing Greece, Panama ordered an extension until August 31 to pay taxes without interest […]

Week in Review – Vol. 34 No.1

EXPOCOMER OPENS

The thirty-third edition of the Panama trade show, Expocomer, will be held from March 11 to 14 with the participation of businessmen from over 35 countries, revealed Lorena Kirchman, International Business Executive of the Panama Chamber of Commerce, Industries and Agriculture. It is the only trade fair in the region that, to date, has subsisted under the scheme of a multi-sector fair, as compared to fairs in other countries that only focus on […]

Week in Review – Vol. 33 No. 52

MORE CANAL INCOME

The Panamanian government expects the Panama Canal to generate additional contributions to the treasury of about $500 million from 2017, said the Minister of Economy and Finance, Dulcidio De La Guardia. With regard to the contribution of the Canal for 2015, De La Guardia said the government expected it to be “similar to last year”, i.e., $1.03 billion.

LOGISTICS FORUM

With the theme “Logistics Development: Outstanding Debt”, the directors of the Panamanian […]

Week in Review – Vol. 33 No. 51

EXPANSION SPENDING

The Panama Canal Authority (ACP) invested, until December 31 last year, $4.54 billion in the expansion works of the waterway, estimated to cost $5.25 billion. This is shown in Quarterly Report No. 33, which details the progress of the waterway expansion and emphasizes that, in this period, the manufacture of the Canal’s new gates in Pordenone, Italy was completed, and the transfer of the last four gates was also made.

POLIES VISIT CANAL

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Week in Review – Vol. 33#1

National newsbriefs

EU DOORS OPEN

Panama, Honduras and Nicaragua may immediately export their products to the 28 countries that make up the block of the European Union (EU), following the entry into force of the Association Agreement signed in 2012. At the moment, inclusion of El Salvador, Guatemala and Costa Rica could be delayed due to problems in trade. For Karel de Gucht, trade commissioner of the EU, the benefits of this agreement are not […]

Week in Review – Vol. 32#47

CANAL SQUEEZE

In February the Panama Canal began to feel the economic desaceleration in Europe, the slow recovery of the US and China and the effect on the global maritime industry earlier than expected, as the authorities had projected the decrease to be registered in March and again in June.

OIL SURGE

The pipeline company operating on the Isthmus of Panama, Petroterminal (PTP) has quadrupled the amount of oil that it carries from the Atlantic […]

Week in Review – Vol. 32#46

National newsbriefs

COMMERCE DOWN

Although Panama’s economy grew by 7% from January to March, the commercial activity decreased to 2.3%. The reason: the country’s economic slowdown included the slump in activity of the Colon Free Zone. A report by the Comptroller’s Office reveals that the wholesale and retail business and repair of vehicles, personal and household effects, totaled $844.2 million up until March, representing $20 million less than in the same period in 2012, when […]