In 2014, the Panama Canal will have 100 years of operation, providing a thoroughfare and relatively inexpensive short cut between the Pacific and the Atlantic, which has significantly influenced global trade patterns. The current Canal consists basically of two sets of locks (water stairs) each interconnecting the Atlantic Ocean and the Pacific Ocean respectively, with…

As from October there are programmed public tenders for 128 “duty free” locals at Terminal 1 of Tocumen International Airport, S.A., interesting major global competitors. Businesses move an average of $20 million a month at Tocumen Airport. Several companies, domestic and foreign, have touched the door Tocumen offices S.A. interested in participating in the proposal:…

The 100 year history of the Panamanian ship registry and the opening of the expanded Canal will be commemorated during the thirteenth version of Panama Maritime World Conference & Exhibition to be held from 12 to 15 March 2017. The Panamanian registry was created by Law 63 of 1917 and the Panama Canal expansion project…

JPMorgan Chase said that “the real economic consequences of Panama Papers will not be so severe” and recommended buying bonds of Panamanian debt. Investment bank JPMorgan Chase considers all factors that have sustained economic growth in Panama are still present, then investors should “buy Panama”. The report of JPMorgan Chase Bloomberg.com review, indicated that “……

We are excited to announce that this last Sunday, June 26, 2016; the Panama Canal Authority successfully inaugurated the PANAMA CANAL EXPANSION with the transit of the M/V COSCO Shipping Panama, a NeoPanamax container vessel with 48.25 meters of breadth and 299.98 meters of length, which transited with a capacity of 9,472 TEUs. Yesterday M/V…

The Panama Canal Authority (ACP) announced that the expanded Canal will be officially inaugurated on Sunday June 26th of 2016. For the inauguration ceremony it is expected the visit of foreign mandataries as well as top executives of the biggest shipping companies. The Panama Canal expansion project involved the construction of two set of locks…

The Financial ActionTask Force (FATF) at its plenary meeting in Paris (France) approved to withdraw the country from the list of non-cooperating countries because their new laws into force places the country “at the forefront in the fight against money laundering”. Official FATF statement: The FATF welcomes Panama’s significant progress in improving its AML/CFT regime…

Dear Clients and Friends: Following the legal guidelines imposed by global financial organizations (FATF, OECD), Panama has enacted a series of laws with the purpose of preventing money laundering and financing of terrorism activities. One of these laws is the Custody Regime for Bearer Shares Act, of which the most important characteristics are: 1.          The…

The Panamanian economy has been registering important increases in its GDP, with an average growth of 8.7% GDP in the last 5 years. Compared to other countries of the region, Panama has had a very positive performance during these long tough years of slow economic growth worldwide since the financial crisis of 2008, achieving a…

Panama’s government in joint action with the private enterprise implementing logistics policies seeking to consolidate our position as a global logistics hub for cargo and services, by developing the cargo ports and airports, the free trade zones, multimodal transport, logistic parks for manufacturing of high-tech products and services, all of which shall become benefited by…

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