Tender for Subway Escalators Declared VoidFriday, July 6, 2012 The two bids were not accepted by the Secretariat of the Panama Metro for failing to meet several requirements. The $40 million tender is for the design, manufacture, supply, installation, testing, commissioning and maintenance of escalators and elevators in the stations on the Metro Line 1 in Panama. Panama Pacífico Sponsoring SIPA-Expo 2009Monday, September 14, 2009 The Business & Investment Summit Panama will be held in Pestana Hotel, Caracas, Venezuela, on September 30th. Project Panamá Pacífico will be present at the event, advising on the benefits of operating in it: tax, migratory and labor incentives, special customs regime and simplification of government procedures. FCC-Odebrecht to Build Panamanian MetroWednesday, October 27, 2010 Line 1 Consortium was awarded construction of the first line of the Panama Metro. The winning consortium's proposal was $ 1,446 million, higher than the one presented by Italian Group Metro Panama which was 1,401 million. Panama Will Build Two New Mega PortsFriday, May 14, 2010 The Government will put out the tender the construction and administration of two mega ports in the Pacific coast area. Alberto Vallarino, Economy Minister, explained that one of the terminals would be located north of Panama Ports, while the other would be constructed at Rodman. Nicaragua and Panama Look to Improve Commercial TradeTuesday, August 17, 2010 Companies from both countries have begun a week of negotiations with the aim of increasing the level of business done between them. The meetings will be held in the Panamanian capital and are promoted by the Nicaragua-Panama Trade Association and the Center for Nicaraguan Exports and Investment. Construction of Panamanian Pacific Port AdvancesTuesday, March 22, 2011 With a $100 million investment, the port terminal being developed by Singapore Ports Authority (PSA) is progressing according to schedule. The terminal will be the second largest port in the Pacific and will have a capacity to move 450 thousand containers per year. Panama Withstands Crisis Better Than OthersTuesday, March 17, 2009 A report published by the Comptroller General of Panama yesterday shows that the most important activities of the economy continued to grow. Roberto Gonzales wrote in laprensa.com: "The revenue from Canal tolls, value of approved building permits, bank intermediation and arrival of tourists to the country marked positive results with respect to the same month in 2008." Citibank starts operations in PanamaMonday, October 13, 2008 Citigroup cemented the legal fusion of Banco Uno and Cuscatlan Bank in Panama today. These brands will now be removed from the market. The result of the union of these operations is a new brand called Banco Citibank (Panama) S.A. with an equity of 250 million dollars, and assets totaling more than 840 million dollars and a network of 22 branches and close to 200 thousand clients. Panama Canal earnings increase by 14%Tuesday, October 14, 2008 'For the first time, the Canal has surpass $2 billion in earnings,' said Aleman Zubieta, Canal Authority administrator. Compared to 2007, when income totaled 1.76 billion dollars, there was an increase of 14%. Japan to Agree $800 Million Loan to Fund Panama Canal ExpansionMonday, October 27, 2008 JBIC, as the state bank is known, will offer $400 million, and Mitsubishi UFJ and Sumitomo Mitsui will provide another $400 million. The Japan Bank for International Cooperation, the state-owned overseas lender, said it will sign an $800 million syndicated loan for the expansion of the Panama Canal that will help Japan boost trade with the Americas. Panama has commercial proposal ready for FTA with CanadaFriday, January 9, 2009 It will be presented at the III round of negotiations for the signing of a Free Trade Agreement, which will be held from January 12 to 16 in Ottawa. According to the digital edition of Panama America, pa-digital.com, the vice minister of Foreign Trade, Severo Sousa, said that "the proposal arose after meetings with representatives from the various productive and industrial sectors of the country and from the services export sector, in accordance with previously agreed working positions. Panama Canal traffic up 2.5% in Q2Tuesday, July 29, 2008 A total of 3,821 boats travelled through the Panama Canal in the April-to-June period this year, 95 more than did so last year. It's a 2.5 percent increase, according to the state agency that administers inter-ocean navigation. "Although we are seeing a slowdown in growth of the world economy, the Panama Canal increased its traffic, both in transit and tonnage, during the quarter," said the executive vice-president of operations of the Panama Canal Authority, Manuel Benítez. Panama: Is the glass half empty or half full?Monday, July 28, 2008 Although the Citibank analyists are very optimistic about the future of the country, they worry about the rising inflation that appears to be escalating. I take issue with several assumption they make. The two big mega projects are what make things so rosy in their eyes. Of course they are counting their chickens before the hatch when it comes to the refinery and they are buying into the continued growth of the worlds economy driving the canal expansion as the other assumption. Agreement between Panama Canal and Port of Virginia strengthenedMonday, May 5, 2008 The Panama Canal Authority and the American Port of Virginia have ratified an agreement to share information and to promote the "all-water" route from Asia to the east coast of the United States. The strategic alliance of mutual cooperation was renewed with the signatures of the Panama Canal Authority, Alberto Alemán Zubieta, and the executive director of the Virginia Port Authority, Jerry Bridges. Panama Canal project under threat from energy crisisWednesday, May 21, 2008 Panama's energy crisis is threatening to delay work on expansion of the Canal. the two leading producers of hydroelectricity have threatened to suspend pd production unless the government takes measures that help to raise the water levels in dams. |
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