Capital Bank Acquires Bancolat from Virgin IslandsFriday, October 9, 2009 Capital Bank, a Panamanian banking entity, requested authorization to purchase 100% of Bancolat's shares. Bancolat Overseas is property of MTS Holdings Corporation, an entity located in the British Virgin Islands. For its part, MTS Holdings is fully owned by HSBC Bank in Panama. New Companies Settle in Panamá PacíficoTuesday, October 27, 2009 Wilhemsen Ship Services and Yermont Enterprises will set up shop in the "flexible" warehouses of project Panamá Pacífico. Henry Kardonski, manager of this Economic Area, said that these companies will occupy the warehouses as early as this month. Fenosa awards $600 million contract for Guatemala power plant constructionWednesday, May 7, 2008 Spain's Unión Fenosa has awarded a $600 million contract for the construction of a 200-megawatt coal-fired power plant in Guatemala to Jaguar Energy, a local unit of Ashdown Energy International. Fenosa said in a statement that the new plant would enable its distributors in Guatemala to ensure power supplies in the long term. Chinese business mission seeks hydroelectric projects in GuatemalaWednesday, May 28, 2008 A mission from China's hydro-power industry is visiting Guatemala to check out the possibility of participating in hydroelectric projects. President Álvaro Colom has announced his intention to wean the nation away from oil by promoting renewable energy. Panama to have new Pacific container terminalWednesday, April 16, 2008 A US$70 million container port is to be built in the Pacific Coast sector of the canal zone, under a concession granted by the government to PSA Panama International Terminal, a unit of Singapore-based PSA International. The concession won approval of the National Assembly on April 15. The new port, which is to have a handling capacity of half a million TEU, is the second of its type in the Pacific Coast sector, and will be PSA's first in Latin America. Tocumen: 16% More Passengers in JanuaryWednesday, April 3, 2013 In January, 695,830 people used Tocumen International Airport in Panama, 16% more than in the same month last year. Estimations are that this year, about 7.5 million people will pass through the terminal, surpassing the 6.8 million who came through it in 2012. Panama: Developer of Trump Ocean Club in BankruptcyThursday, May 2, 2013 Newland International Properties has asked the holders of its bonds to authorize the filing of Chapter 11 of the U.S. Bankruptcy Code The company has initiated an application for votes so that it can submit a restructuring plan for the company's Senior Secured Notes for $220 million, with the Bankruptcy Court of the United States. Honduras: $23 million for irrigationWednesday, August 3, 2016 Through an agreement with the Indian company Apollo International Limited an irrigation project will be developed in the Jamastrán Valley, department of El Paraíso. A statement from the government of Honduras explains that the agreement provides for the construction of 6 drip irrigation modules using surface water of the rivers Hato, San Antonio and San Francisco, on which a further 300 drip irrigation systems will be built in small five hectare modules. 13% More Travelers Passing Through TocumenFriday, July 26, 2013 During the first half of 2013 3.8 million passengers transited through the main airport of Panama. Data provided by the Department of Statistics of the International Airport of Tocumen, reveals that during the first six months of 2013 the number of passengers passing though in a day was 20,807 while in the same period in 2012 it was 19,000. Request for Bankruptcy Law in PanamaTuesday, June 25, 2013 One such example is the request by the developer of the Trump Ocean Club to make use of Chapter 11 of the U.S. bankruptcy code, in order to restructure its debt. "Chapter 11 is a vital tool for businesses to survive and move forward. If it had existed in Panama, it would have been brought to light in Panamanian law. Unfortunately there is no such legal concept," said Carlos Saravia, operating manager of Newland International Properties. Brushes Factory Invests in ExpansionThursday, July 25, 2019 With the increase in the production capacity of its industrial plant in Guatemala, the manufacturer of painting tools, Farbe International, expects to produce 6 million brushes and 13 million felts or rollers per year. Representatives of the company, which is part of Grupo Solid, assured that with this investment the plant located in Palín, Escuintla, becomes the largest in the region. Cable & Wireless Comes to Costa RicaWednesday, November 12, 2014 Cable and Wireless has acquired the company Columbus International, which belonged to Lazus SAS, a Costa Rican company that operates in the telecommunications market in the corporate segment. With this acquisition Cable & Wireless will increase its presence in Central America, adding to Panama, where it ventured after acquiring 49% of the shares of the public operator. Transnational Seeking "Sustainable" CocoaTuesday, March 17, 2015 Support is being given to sustainable agriculture programs to meet growing consumer concern about the origin of the raw materials of the products they consume. From a statement issued by the Cosa Rican Foreign Trade Promotion Office (PROCOMER): Panama: New Companies in the SEM RegimeFriday, June 8, 2018 JCB from England, Isuzu Motors Limited from Japan and China Railway International Group CO have set up under the conditions of the regime known as SEM (Sede de Empresa Multinacional or Site of a Multinational Company) The Ministry of Industry and Commerce announced that from these sites companies will provide services to their subsidiaries in the region. Hotel Supply Grows in El SalvadorWednesday, August 16, 2017 The 130-room Marriott Fairfield hotel started operations at the La Gran Vía shopping center in San Salvador. With an investment of $17 million, the developer Urbánica opened the doors of the new Marriott Fairfield hotel. The property will focus on the business tourism segment as does the Marriott Courtyard, developed in the same area. |
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