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Showing posts from 2015

Uber Top 10 in Panama City in 2015

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Panama Business News. Uber Top 10 in Panama City in 2015
1. During 2015 the areas where Uber arrived in Panama were Paitilla, Casco Viejo, Banking Area, Costa del Este and San Francisco
2. Areas were more Uber users were dropped: Paitilla, Banking Area, Costa del Este, San Francisco and Parque Lefevre
3. Uber partners drivers  did take users  everywhere,  and reached as far as Chitre, Penonome, San Blas, Bayano Dam and Portobelo,
4 .The longest journey lasted 668 mins
5. What did they do all this time ?, Get to know Panama in round trips tours to the Atlantic Coast, visiting the Colon Free Zone and the Visitor Center of Gatun Locks
6. Uber carried out man fun promotions to their users, the one twhich received more #UberLOVE, was the breathalyzers that were put together with Ron Abuelo, to promote the importance of not to combine alcohol drinks and driving in this holiday season.
7. Besides,  the Ubers were full of good stories, like that one of one of our members who arrived to pick up a pas…

Fuddruckers Debuts Second Fast Casual Restaurant Location In Panama

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Panama Business News. Fuddruckers Debuts Second Fast Casual Restaurant Location In Panama with Franchise Partner Isthmus Food Service, S. A. Fuddruckers, an iconic, Texas-born fast casual brand, debuted its second Panama location with franchisee Isthmus Food Service, S. A. earlier this week.  The 4,500-square-foot restaurant with seating for 126 is ideally situated at Panama City's Street Mall shopping center on Via Israel in the San Francisco/Punta Pacifica area.  It joins Panama City's popular Metromall site, which opened in late 2014.  The partnership plan with Isthmus Food Service, S. A. calls for the development of up to eight more Fuddruckers restaurants.  Six are targeted for Panama, while the remaining two will be located in Aruba.
According to Peter Tropoli, Chief Operating Officer, "We're excited to be expanding in Panama with our partners at Isthmus Food Service, S. A., who have revealed another prime location for our always fresh and never frozen 100% U…

Krispy Kreme Doughnuts’ Classic Sweet Treats Coming to Panama

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Panama Business News. Krispy Kreme Doughnuts’ Classic Sweet Treats Coming to Panama. Krispy Kreme Doughnuts, Inc. (NYSE:KKD) today announced it has signed a development agreement with Barcenas Group International Inc., to bring 16 Krispy Kreme Doughnuts shops to Panama over the next five years.
“This agreement marks our company’s second partner in Central America and the continued growth of the Krispy Kreme Doughnuts brand in Latin America,” said Dan Beem, Krispy Kreme Doughnuts’ Senior Vice President and President – International. “Our partners in Panama, Barcenas Group International Inc., understand the demands of the Panamanian customer and have what it takes to create the experience enjoyed in our shops around the world. We are excited to be working with them in this new market.”
Rafael Barcenas, President of Barcenas Group International Inc., said the people of Panama will love Krispy Kreme Doughnuts sweet treats and premium coffee.
“I am excited to help bring the classic and belov…

Evergreen unveils Panama terminal expansion

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Panama Business News. Evergreen unveils Panama terminal expansion. Evergreen Group’s Colon Container Terminal in Panama has completed the third phase of an expansion that will allow the terminal to handle the largest ships that will transit the Panama Canal’s soon-to-open larger locks.
The terminal expansion added a fourth berth that, combined with the adjacent Berth 3, will provide an overall quay length of more than 2,100 feet. The new berth has a water depth of 54 feet and three gantry cranes that will span 23 rows of containers.
The expansion increases CCT’s annual capacity to 2 million 20-foot-equivalent units from the previous 1.5 million TEUs. An additional expansion of Berth 3 will increase annual capacity to 2.4 million TEUs by early 2017, and allow Berths 3 and 4 to simultaneously handle two 12,000 to 14,000-TEU ships.
The new Berth 4 is scheduled to begin operation in the first quarter of 2016. The completion was marked in a ceremony Thursday attended by officials including P…

Martano has secured the supply of 350MW of electricity in Panama

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Panama, PanamaA Chinese-backed company called Martano has secured the supply of 350MW of electricity in Panama’s power system for 15 years, starting in 2019. The move would mean the supply of LNG into Panama.
Panama’s Empresa de Transmision Electrica (Etesa) announced the award on 11 December, based on an offer price of $0.08495/KWh, which was 30% lower than what was offered in a previous tender. During a tender that was held in February 2015, 14 proposals were received at the time, and for the first time, offers came in under $0.10/KWh.
Etesa’s CEO said that Martano has demonstrated financial resources and the ability to supply natural gas using vessels across the Pacific. Representatives from Martano could not be reached for comment. It was unclear whether Martano held any existing physical assets in Panama or China.
In a filing with the Panamanian government, Martano was authorized to develop its Gas-to-Power Panama project for a 325MW gas-fired power plant in the village of Puerto…

Copa Holdings Announces Monthly Traffic Statistics For November 2015.

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Panama,Panama.Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for November 2015:
For the month of November 2015, Copa Holdings' system-wide passenger traffic (RPM) increased 2.6% year over year, while capacity increased 2.6%. As a result, system load factor for November 2015 was 74.0%, a similar load factor when compared to November 2014.

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to 73 destinations in 31 countries in North, Central and South America and the Caribbean with one of the youngest and most modern fleets in the industry, consisting of 102 aircraft: 77 Boeing 737NG aircraft and 25 EMBRAER-190s. For more information visit www.copa.com.

Aristides Chiriatti is the new president of the American Chamber of Commerce of Panama (PANAMCHAM)

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Panama, Panama. Aristides Chiriatti, Chief Operating Officer of Import & Export Colon, was elected President of AmCham 2016, in the Board meeting held on Tuesday, December 2nd. Aristides has been two years in the Board and in 2015 served as the Secretary of the Board.
They accompanying him on the Executive Committee were elected: Romy Aued, Vice President; Barraza Amanda Wong, Treasurer; and Dacil Acevedo, Secretary. Elected officers take office in January.
Prior to his work in Colon Import and Export, Aristides work in leadership positions at Chevron in Latin America for the past 16 years. He has years of experience in Supply Chain, Engineering and Sales. Aristides is a graduate architect and has an MBA in International Business.

Emirates Airlines bags 'Best International Airline' award. Will Fly to Panama in February 2016

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Panama, Panama. Emirates Airlines, a global connector of people, places and economies, was recently honoured with the award for favorite international airline, 2015 category at the fifth 'Conde Nast Traveller
Presented by the magazine's India edition, the awards are globally renowned and considered among the most prestigious in the industry. The fifth edition of the award ceremony this year was held in New Delhi, to recognize and honour the best in the travel, tourism and hospitality industry.
The selection criterion is based on votes from readers of the magazine and their personal travel experiences. Readers voted for their favorite destinations, airlines, hotels, spas, airports and more across 27 categories.
"At Emirates, we are always in pursuit of excellence when it comes to delivering the best experience possible both on-ground and on-board to our customers," said Essa Sulaiman Ahmad, VP, India and Nepal, Emirates Airline.
He also said that we will continue to inves…

Grupo Pesqueros SA is now MAXINDUSTRIES

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Panama,Panama. Grupo Pesqueros SA has changed its corporate brand identity and is now called MAXINDUSTRIES S.A. The new branding is a strategy to better meet the needs of customers and to widen the markets which it serves.
Grupo Pesqueros, S.A., which has served for more than 33 years the fishing and construction sector in Panama, Central and South America, is renewing its corporate image looking to differentiate itself and keep its leadership with the new name MAXINDUSTRIAS, S.A.
The change in corporate image is a symbol of a new phase and coincides with a series of projects, many of them focusing on facilitating the interaction with clients. Fernando Lara, MAXINDUSTRIES S.A. Commercial Director, said: “this company has experienced a rapid transformation and this change will help us refresh our brand at a time where we have made very positive changes to our business. The corporate identity represents what we are as a company, serving the construction and fishing sectors and other relat…

Eric Trump strengthens his commitment to Panama

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Panama, Panama. Eric Trump, Executive Vice President of Development and Acquisitions for The Trump Organization, responsible for all new project acquisition, development and construction around the world, was in Panama to strengthen and support the plans to improve the property in the near future in both of its areas hotel and real estate.
"Each time more multinational companies establish their headquarters in Panama for being one of the strongest and most stable countries in the region, this proved to be an indication of the success that the property would have, more than an investment business, we like to believe that it is an investment that helps boost Panama's economy, tourism and image," said Eric Trump about how he perceives the business in the country. 
This property has four years in the Panamanian market, ranking as the number one luxury hotel in Panama, it has contributed to tourism as an hotel choice and it has become an icon and a touristic spot in the countr…

Panama welcomes Roberto Coin

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Panama welcomes Roberto Coin. The Italian brand has signed an agreement with the renowned entrepreneur Carlos Sultan, to handle the distribution of the precious collections in the region. The renowned Italian brand Roberto Coin, which is leader in the jewellery world and strongly loved in the United States, is all set to enter Panama in year 2015. The Italian brand has signed an agreement with the renowned entrepreneur Carlos Sultan, President of Latin Jewelers Corp., a distributor of high-end jewelry and watches throughout South America, Central America and the Caribbean, who will handle the distribution of the precious collections in the region.
 Roberto Coin’s activity will be located in the futuristic Panama Diamond Exchange, the heart of the jewelry and diamond trade in Latin America, found in the exclusive Santa Maria Business district. As Roberto Coin says, "I have always loved Latin America and today I am happy to work here and bring beauty and joy with my jewels.”
The It…

APG appointed as GSA for Air Europa in Panama

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APG appointed as GSA for Air Europa in Panama. Air Europa is the airline of Globalia, the largest Spanish tourist group with an annual turnover of over 3,500 million dollars, founded in 1986 with its main base at MadridAirport and bases in the airports of Barcelona and Majorca.
APG announced a new GSA partnership with Air Europa (UX) effective from the 01st September 2015 in addition to its current GSA agreement in Cyprus.
APG has been appointed as the General Sales Agent of Air Europa in Panama and will be providing full sales and marketing services as well as call center facilities.
Air Europa is the airline of Globalia, the largest Spanish tourist group with an annual turnover of over 3,500 million dollars, founded in 1986 with its main base at MadridAirport and bases in the airports of Barcelona and Majorca.

The SkyTeam Alliance member currently has one of the youngest fleet in the world with an average age of 5 years. It is made up of 47 modern aircrafts (20 Boeing 737-800, 12 Airbus…

Windstar Cruises Launches Deckside Festival on the Panama Canal.

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Panama, Panama. Windstar Cruises announced a new program for guests traveling on Costa Rica & Panama Canal itineraries. The Canal Celebration, a deckside festival, invites guests to experience the sights and sounds of the Panama Canal while enjoying amenities and activities that highlight the Panamanian culture.
Windstar guests can enjoy a cool and breezy nighttime passage through the Panama Canal, during which lights illuminate the inner workings of the waterway. The Canal Celebration takes place as the yacht traverses the 40-mile passage. As the ship approaches the first locks in the late afternoon, a speaker from the Panama Port Authority comes on board to introduce guests to the complex and ingenious lock system, a modern world wonder.
As the yacht navigates the passage, guests are invited to stroll along the deck and sip on local beverages, beers, and cocktails from a mobile drink cart while listening to local festive music from various regions around the country.
As evening fal…

8th Annual Telecoms Energy Efficiency Forum in Panama

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Panama, Panama. Leverage Smart Network Technologies and Strategies to Optimize Energy Consumption. 3-4 Dec 2015.
The 8th edition brings together leading market players, primarily from the region, to exchange ideas, share experiences and develop strategies to ensure profitability in an ever-changing telecom landscape. As an invitation-only event taking place behind closed doors, the forum offers C-level executives from the Pan-American region, an intimate environment for a focused discussion of key new drivers to shape efficient and sustainable network landscape. The one-to-one business meetings provide access to C-level executives of the largest corporate budgets in Pan-America – decision makers selecting solution providers for their network improvements. A thorough selection process ensures a qualified audience, which grants unparalleled business and networking opportunities in a luxurious and stimulating environment.
Reducing energy bills while expanding fixed and mobile networks Ensur…

JAN DE NUL CONFIRMS DETAILS OF PSA PANAMA DEAL

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Panama, Panama. A JV of Jan de Nul and Saipem is responsible for the PSA project.
Jan De Nul Group has confirmed that it has been awarded a contract for the quay wall and dredging for the expansion of Panama PSA’s terminal.
After six months of design and tendering process, the contract was awarded to Jan De Nul Group and Saipem.
The PSA terminal, on the western bank of the Panama Canal’s Pacific entrance, has a 450,000 TEU capacity and opened for business in 2010. It currently offers 330m of berthing served by three quay cranes and nine yard cranes.
The expansion was approved by Panama’s National Assembly earlier this year and is scheduled to be operational in the first half of 2017. It comprises the dredging and excavation of approximately 4 million m³ of material to a depth of 16.3m, as well as the construction of an 800m quay wall.
The dredging works will be executed by Jan De Nul Group. The quay wall extension was awarded to the JV Jan De Nul-Saipem. When fully operational, PSA Panama…

Royal Caribbean closer to returning to Panama after a two year absence

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Panama, Panama.  A Panamanian delegation, led by Panama President Juan Carlos Varela Rodriguez met with Royal Caribbean officials in Miami to discuss future plans for the cruise company in the region.
Royal Caribbean International CEO Michael Bayley, Panama President Juan Carlos Varela Rodriguez & Royal Caribbean Ltd CEO Richard Fain.
The Tourism Authority of Panama (ATP) wants Royal Caribbean, and other cruise lines, to offer departures from the Central American country.
Royal Caribbean had offered cruises from Colon, Panama for about six years prior to the company halting further cruises from the area.

Subsequent meetings between Royal Caribbean and the ATP will be held to plan some of the new cruise routes.

Cardinal Resources Mobilizes to Panama

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Panama, Panama. Cardinal Resources Inc. (OTC PINK: CDNL), a global producer of patented, solar powered, community-scale drinking water systems, has a team including people from its assembly partner, Forest Edge Technologies, on the ground in Panama to install the first of a series of systems for communities. This CRB-10 is being installed in Soloy as a demonstration of the capabilities of the patented Red Bird System for the community and Senior Engineers for the Republic of Panama.
Kevin Jones, Cardinal Resources CEO, who is part of the installation team stated, "The people of Soloy are excited with the prospect of having clean drinking water and are working hard with us in the assembly of the system. Our patented Red Bird System represents opportunity, empowerment, and a step forward at the local level and soon to be nationwide. We look forward to fantastic long term growth in Panama and throughout Latin America. "
Agua Saludable Group, Inc., our Latin American partner, has …

UGE International and OTEPI Install Largest Portfolio of Commercial Solar Energy Systems in Panama

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Panama, Panama. (Marketwired via COMTEX) -- UGE International Ltd. ("UGE") (UG) (otcqb:UGEIF), a leader in renewable energy solutions for commercial and industrial customers, along with local partner OTEPI Renewables ("OTEPI"), completed the installation of solar energy systems for six facilities owned by Cochez y Cia, SA ("COCHEZ") in Panama. The newly commissioned systems will substantially lower COCHEZ's electricity bills at each site by offsetting up to 80% of the buildings' energy usage.
"We have always maintained a strong commitment to social responsibility in our operations," said Raul Cochez, CEO of COCHEZ. "We chose UGE and OTEPI for their expertise in developing custom solar systems to further that environmental commitment, optimize our long term operational

CEMEX Panama awarded highest recognition for environmental management.

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(Company Press Release- Panama, Panama). CEMEX S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced recently  that its Panamanian operations were awarded the highest recognition in sustainable development and environmental management by the Panamanian Chamber of Construction (CAPAC for its acronym in Spanish). CEMEX Panama earned this honor for its implementation of protection and conservation policies in the environments where the company operates.
The CAPAC’s panel of judges included engineers, architects, developers, governmental officials, and scholars. The award criteria included companies’ environmental policies, energy and water efficiency, waste management, and handling of chemical substances; air pollution mitigation; environmental controls and records; environmental contingency plans; and reforestation plans.
CEMEX Panama obtained this recognition thanks to such initiatives as its Technological Innovation Project based on P+L Systems, which resulted in energy savings of 32% at its ce…

Fitch Affirms Banco General at 'BBB+'; Outlook Stable.

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(Business Wire- Panama, Panama)--After completing the peer review of Panama's largest banks, Fitch Ratings has affirmed Banco General S.A.'s (BG) long-term foreign currency Issuer Default Rating (IDR) and Viability Rating (VR) at 'BBB+' and 'bbb+' respectively. See the full list of rating actions at the end of this release.
The bank's VR, IDRs, and senior debt ratings reflect the bank's still sound operating environment, solid franchise, sound and consistent performance, robust capital levels, conservative policies, good asset quality and reserves, ample deposit base and well-diversified portfolio. Fitch's view of BG's creditworthiness is tempered by the heightened competition it faces and the lack of a lender of last resort.
BG has long been Panama's largest locally owned bank; it has one of the largest branch networks, presence in most key markets, a significant market share and a reputation for conservative and consistent policies.
BG enjoys…