GE sells BAC-Credomatic in Central America to Grupo AvalThursday, July 15, 2010 GE Capital Global Banking announced today that it has reached a definitive agreement to sell BAC Credomatic to Grupo Aval, Colombia’s largest banking holding group, for $1.9 billion. The transaction is subject to certain regulatory approvals and other customary conditions, and the parties anticipate closing by the end of 2010. The New Owners of BAC-CredomaticTuesday, July 20, 2010 Luis Carlos Sarmiento Angulo, one of the richest men on earth, is the owner of Grupo Aval, which controls some of the largest banks in Colombia. Grupo Aval agreed to purchase 100% of the shares of BAC-Credomatic from GE Capital for $1.9 billion. Currently, GE owns 75% of BAC-Credomatic and agreed to buy the remaining 25% to sell it to Grupo Aval. IDB approves green facility for Banco General of PanamaTuesday, November 24, 2009 A $20 million non-sovereign guaranteed loan from the IDB will support Banco General, in growing a portfolio of green projects. The facility will support investments involving energy efficiency, renewable energy, water and wastewater treatment, waste management and other carbon-mitigating projects. Latinclear Expands to Canada, Mexico, and ArgentinaFriday, June 12, 2009 Central Latinoamericana de Valores S.A. - Latinclear now offers international securities custody services in nine countries. The head office of securities, which began operations in 1997 with the support of the Stock Exchange of Panama, Latinclear, will be introduced to the markets of Canada, Mexico, and Argentina through its Clearstream Banking account in Luxembourg. Spain Warns Against a Forex Company in PanamaWednesday, March 11, 2009 The Spanish securities regulator warned of an unauthorized investment firm based in Panama. According to the communiqué from the Spanish National Stock Exchange, the company with the commercial name Dextraplus (System World Investment Corp), based in Panama, is offering investment services without meeting the necessary requirements. $20 million for Mortgage Loans in El Salvador and PanamaFriday, January 13, 2012 La Hipotecaria landed IDB financing for mortgage loans in El Salvador, Panama and Colombia. $20 million in loans will help boost loans for low-and middle-income housing to reduce the gap in the housing market. Panama: $21.2 Million in Banking SoftwareWednesday, March 3, 2010 Bids were invited to provide a Core Banking system for various state-owned banks. The contract comprises licenses, installation, adaptation, migration and implementation of a banking management system, integration with other systems and reports. Company Profile Organization that operates in El Salvador, Guatemala, Honduras, Nicaragua and Panama.
Panama: Cancelation of Another Contract Signed by Previous GovernmentWednesday, May 13, 2015 Pointing to overruns the Varela administration has annulled a $22 million contract for support to the system for mobile equipment and back office staff at the Maritime Authority of Panama. From a statement issued by presidency of Panama: GPS for Panamanian BusesThursday, August 27, 2009 Public transportation will use the satellite positioning system Global Positioning System (GPS). Jimmy Papdimitriu, minister of the Presidency, said the government will pay the $150 installation cost, but each transporter will be responsible for its maintenance. Eurobonds: Risk Rating ConfirmedMonday, November 11, 2019 Standard & Poor's has given a B+ rating to the $1.5 billion debt issue that Costa Rica expects to place in the international market in November. "Global Ratings today assigned a "B+" rating to the prospective reopening of Costa Rica's notes which have a 7.158% rate maturing in 2045 and a "B+" rating in its planned issuance of notes maturing in 2031, the latter issue still does not have a defined trading rate," the rating agency said on November 8. Machinery: Which Companies Negotiate with the Government?Monday, February 11, 2019 Zebol, Técnica Universal, Cemcol and Airco are some of the companies awarded the most important contracts to supply machinery and tools to public institutions in Central America. An analysis of CentralAmericaData's Trade Intelligence unit provides data on the companies that during the last year were favored by the region's governments, with contracts to supply different types of machinery and tools. Citi to Sell its Operations in Central AmericaTuesday, October 14, 2014 The group has announced that as part of its long-term strategy it will withdraw from the consumer banking business in Costa Rica, El Salvador, Panama, Guatemala and Nicaragua. Extract from a statement issued by Citigroup: OTI to develop, run immigration monitoring systemMonday, January 30, 2012 On Track Innovations Ltd. (OTI) will design, develop and install a comprehensive system to monitor immigration flows to Panama Panama awarded On Track Innovations Ltd. (OTI) a contract for the supply, design, installation and integration of electronic systems to monitor and improve immigration verification processes and overall immigration flow, GlobeNewswire reported in a press release. |
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