May 29, 2007
Panama City, Panama
After three years in office, Panama President Martin Torrijos granted a rare interview to Panama’s La Prensa. Reporter Flor Mizrachi took off the kid gloves for the president, whom she grilled about a recent mass poisoning scandal, accusations of nepotism, and former dictators. Excerpted here is a translation of the interview:
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May 28, 2007
Panama City, Panama
As if Panama didn’t have enough exciting news, the latest proposal—an $8 billion oil refinery mega-project—is now poised to become a reality. A Memorandum of Understanding (MOU) has been signed between Occidental Petroleum, Qatar Petroleum Company, and Panama’s Ministry of Trade and Industry. Panama President Martin Torrijos was present at the signing ceremony that took place in Panama just days ago.
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May 14, 2007
Panama City, Panama
Earlier this year, it was announced that the Atlantic town of Colón would be the site of Panama’s first wholesale merchandise mall, dubbed Panama International Merchandise Mart (PIMM). Now developers of the billion-dollar project say the money is rolling in, and discussions with the World Bank may result in a $50 million loan.
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May 4, 2007
Panama City, Panama
More than 30 environmental organizations have petitioned the United Nations World Heritage Committee over a controversial dam project in Panama’s La Amistad International Park. The park, a World Heritage-designated site, spans land in Panama and Costa Rica, and protects Central America’s largest and most diverse virgin rainforest, according to the Center for Biological Diversity (CBD), a nonprofit conservation organization.
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May 3, 2007
Panama City, Panama
Foreign capital investment in Panama reached some $2.56 billion in 2006 according to the Panama comptroller’s office, the entity responsible for the national budget and public spending. According to the comptroller, this is the highest foreign direct investment (FDI) the country has ever recorded. The previous record was established in 1997, when the privatization of state entities contributed to a total of about $1.29 billion foreign capital investment.
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May 2, 2007
Panama City, Panama
At least six new banks have recently applied to Panama’s Bank Superintendency for permission to install local branches. That may sound like a lot of new business for this tiny Isthmian nation, but Panama’s financial district has long attracted banks from around the world. Nearly every major bank has a branch here--including Citibank and HSBC--and a wide range of countries are represented…from Brazil to France to South Korea to Costa Rica (you can see a list of banks registered in Panama at the Superintendency website).
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April 24, 2007
Panama City, Panama
Grupo Figali Internacional, a large development group, is building one of Panama City’s most ambitious mega-projects. Dubbed “Panama Canal Village,” the project is located in the Amador sector of what was formerly known as the Panama Canal Zone.
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April 20, 2007
Panama City, Panama
The recent tragic murder of a U.S. woman in Panama has been all over the news--here in Panama, in the U.S., and elsewhere. Violence of this type doesn’t often happen in Panama.
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