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181. Fitch Revises HSBC Bank Panama & Subsidiaries' Outlook ...
OTP News - Following the recent revision of Panama's Sovereign Ratings outlook, Fitch Ratings has revised HSBC Bank Panama (HBPA) and Subsidiaries' long-term Issuer Default Ratings (IDR) outlook to Positive from Stable. Fitch rates HBPA as follows with a Positive Outlook: -Foreign Currency Long Term IDR 'BBB+'; --Foreign Currency Short ...
182. Panama lowers 2014 growth estimate down to 6.3 ...
Panama on Sunday lowered its 2014 growth expectation to 6.3 percent, down from a previous estimate of around 7 percent. Panama's economy grew 8.4 percent in 2013 but has been cooling as $15 billion of infrastructure projects, mainly for the expansion of the Panama Canal, have winded down. Such public ...
183. Torrijos Fired Banking Supe. Delia Cárdenas
Delia Cárdenas said yesterday that she did not quit but rather was fired by President Martin Torrijos, saying that "he asked for my resignation." In a meeting in the office of the Presidency on 25 May President Torrijos told Cárdenas that she was not "reconstructing the financial sector fast enough." ...
184. Panama To Lift Ban On US Beef
PANAMA CITY (AP)--Panama is lifting its ban on U.S. beef that was prompted by the discovery of mad-cow disease, or bovine spongiform encephalopathy (BSE), the Agriculture Ministry announced on Wednesday.
185. Panama Superintendency of Securities Takes Control Of Pacific ...
The Pacific Financial Inc. brokerage firm, dedicated to the management of foreign investment, is subject to a process of reorganization, effective October 16, as revealed by a resolution issued by the Superintendency of Securities. The Superintendent has appointed the attorney Maruquel Gisela Pabón Ramírez to reorganize the brokerage firm for ...
186. "No More Excuses" for Coosemupar - Torrijos
By Hernán Martínez A. for El Siglo - Before hundreds of workers on the "Finca Blanco" in the banana producing zone of the district of Barú, Panama's President Martin Torrijos sharply criticized the administration of ex-President Mireya Moscoso. He said that after many sacrifices, many fights, and many misunderstandings, the ...
187. Costa Rican company Dos Pinos acquires Panama’s largest ...
Dos Pinos, the largest dairy company in Costa Rica, on Sunday announced its purchase of Nevada, a producer of milk and fruit juices in Panama. This company was owned by Refrescos Nacionales, a subsidiary of Panama’s national brewery, which belongs to the multinational SABMiller. The information was confirmed yesterday by ...
188. Petaquilla - Getting Serious
I've been watching Petaquilla like a hawk for a couple of years now. They've had the mining concession to develop a large tract of land in Panama's Coclé province since Panama passed the "Petaquilla Law 9" in February 1998. Nothing happened for a long time, then the price of copper ...
189. Circle Oil to Start Offshore Studies This Year ...
Irish company Circle Oil plans to start studying data on an offshore hydrocarbons exploration block off the coast of Panama by year-end and could start seismic studies in the second quarter of next year, company CEO David Hough told BNamericas. Attracted by previous exploration showing the presence of gas hydrates, ...
190. Panama Will Sell $600 Million in Local Bonds
Ricardo Martinelli's Executive Cabinet Council authorized yesterday the issuance of local Treasury Notes worth up to $600 million dollars, which will be sold through the local market. The money raised by the sale of these bonds - which will be requested as required - will be used to repay debt ...
191. Panama Exporting "ñame diamante" (Diamond Yams) To The ...
Farmers in Ocu, Herrera, and Guánico in Tonosi will be exporting "ñame diamante" (diamond yams) to the United States. Several years ago Panama dabbled in exporting this product to the U.S. market. That first experience was not good and the activity disappeared in a short time. Many of the farmers ...
192. Panama to apply for APEC membership
PANAMA CITY, Nov. 13 (Xinhuanet) -- Panama will make an application to join the Asia Pacific Economic Cooperation Forum (APEC) at the organization's CEO Summit from Nov. 17-19, Panamanian Foreign Minister Samuel Lewis said on Sunday. Lewis, who is now on a visit to South Korea, issued a statement to ...
193. Panamanian Farmers Worried About The Sale Of Imported ...
Farmers in the province of Los Santos are concerned, because they have 140 quintals of corn they have been unable to sell. Valentin Dominguez, a producer, expressed his concern and he even complained that local businesses are selling imported corn, which has toxins and bacteria, which could be dangerous to ...
194. Panama Hires Lobbying Firm in Wash. DC
Panama hired The Washington Group to lobby members of the US Congress on its behalf, in anticipation of a free trade agreement between the US and Panama. Any such agreement will require ratification by Congress. Panamanian Ambassador in Washington Federico Humbert said that Panama will be paying $26,500 per month ...
195. Tax Dodging in Panama - "Bye, Bye Miss ...
By DON WINNER for Panama-Guide.com - Received this feedback from a well informed reader on the "Tax Dodging" series of articles; "This is why some Americans are buying as much as possible now. The US government is making it more expensive (ie taking 30% of all funds you move out ...
196. New Tax Filing Requirement
Anexo 94 - Did you take a deduction on your active business SA’s Panama Declaración de Renta on either line 29 or 56? If so, read this it is important. It will be especially important to comply with the new changes should you ever need to obtain a Paz y ...
197. MEF: Panama Might Be Removed From OECD Blacklist ...
On Friday, 24 June 2011, Panama might be removed from the "gray list" of the Organization for Economic Cooperation and Development (OECD), said the Vice Minister of Economy and Finance, Frank De Lima. According to De Lima, this will be accomplished after Panama's Vice President and Foreign Minister Juan Carlos ...
198. Panama Bond Auction By State Development Fund Cancelled
By Kejal Vyas - NEW YORK (Dow Jones)--A Panamanian state development fund that had looked to sell up to $760 million in Panama sovereign paper that it holds has canceled the auction Thursday, according to people familiar with the matter. In a regulatory filing with the Securities and Exchange Commission, ...
199. UBS Data Show U.S. Targets $1 Million Accounts, ...
By Dylan Griffiths and Klaus Wille Nov. 17 (Bloomberg) -- U.S. residents with more than 1 million Swiss francs ($985,000) in undeclared foreign bank accounts are being targeted by the Internal Revenue Service’s widening probe of tax evasion. That benchmark was one of those released today as the Swiss Justice ...
200. Panama and Israel Sign Commercial Trade Agreement
Industry, Trade and Labor Minister Binyamin Ben-Eliezer and Panama's Minister of Commerce Roberto Henriquez singed a mutual trade agreement Monday, aimed at boosting the financial and commercial cooperation between Jerusalem and Panama City. Israel and Panama agreed to launch various joint ventures in the fields of water management, renewable energy, ...
201. Good Morning, How Did You Sleep Last Night?
It's a done deal. The legislature passed the Social Security reforms in the third debate late last night. And, the nation-wide general strike is set for today. It's important to understand why the Torrijos government is stuffing these reforms through at light speed. It's all about the need to borrow ...
202. Panama Approves Free Trade Agreement with Chile
(Source: La Prensa) The Free Trade Agreement (TLC) between Panama and Chile was approved yesterday in the second debate by the National Assembly's Commission of Foreign Relations. The agreement with Chile was signed last 27 June after 15 rounds of negotiations that lasted 10 years. The treaty establishes that Chile ...
203. Lands in Coronado Carrying Tax Assessment Values Well ...
Desarrollo Golf Coronado, S.A., owned by Ithiel Roberto Eisenmann, has in Nueva Gorgona more than 70 hectares in one of the most exclusive tourist areas of Panama. This is only counting some of the properties linked to the Coronado hotel. These are properties that, together, could have a present market ...
204. Latin Inflation: Panama Best, Venezuela Worst
(Source: Latin Business Chronicle) Venezuela will continue to lose its battle against consumer prices, according to the International Monetary Fund. Next year the South American country will post an inflation rate of 15.4 percent, which will be worse than the 12.1 percent the fund estimates for this year. The 2007 ...
205. Pronto Cash S.A. Is Not An Entity That ...
The Superintendency of Banks warned today, Thursday 22 March, that the company Financiera Pronto Cash S.A., is not an entity that is regulated or supervised by the Superintendency. Through a press release, the Superintendency explained that Pronto Cash, does not have nor has it had in the past, a license ...
206. Put That In Your PIF And Smoke It
Your Private Interest Foundation (PIF) might not be as bullet-proof as you were lead to believe. I've been asking questions about the value and structure of the PIF in light of the recent lawsuit between HSBC and Peter Gordon. The general belief is that the PIF offers protection from lawsuits ...
207. Panama's Debt Will Be $16.75 Billion By End ...
In three years of the government administration of Ricardo Martinelli, Panama's public debt registered a balance of $13.9 billion dollars, showing a net increase of $1.4 billion (11. 2%) compared to the same period in 2011. However, by the end of Martinelli's term in office Panama's public debt will reach ...
208. Tax Reforms in Panama Will Increase Revenue By ...
By Carlos Estrada Aguilar for La Critica - The Panamanian National Government will raise approximately $250 million additional dollars per year on average thanks to the new version of the tax reform law approved unanimously by the Executive Cabinet last night. New taxes being applied to the businessmen who operate ...
209. Panamanian Government Approves Petaquilla Mine Plan
These guys have been thinking about developing a copper and gold strip mine in Panama for about fifteen years, and it looks like they are about to kick things off in a big way. The good news is that this company will probably end up making more than a $400 ...
210. Panama Rolls Over And Signs Controversial Tax Agreement ...
Panama's strategy to be removed from the gray list of the Organization for Economic Cooperation and Development (OECD) seems to have become a very difficult obstacle to overcome. The announcement of the signing of a "tax agreement" with the United States on Tuesday 30 November 2010 has aroused suspicion among ...
Current Tides for BalboaClick Here for a very nice real-time visual representation of the current tides at Balboa, near the Pacific entrance to the Panama Canal. The small "cross" marks the current tide level.
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