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Showing posts from February, 2016

Turkish Airlines to begin flights to Panama

Panama, Panama / Turkish Airlines to begin flights to Panama.Turkey’s flagship carrier, Turkish Airlines, has announced plans to begin operating flights to  Panama City beginning May 4.       
The inclusion of this new destination will bring to 14 the number of destinations Turkish Airlines services in North and South America, with another route to Atlanta expected to be launched later, the company said in a statement on Feb. 26, according to Anadolu Agency. The Istanbul departures will run three times per week.      
Star Alliance member Turkish Airlines is a four-star airline with a fleet of 289 (passenger and cargo) aircraft flying to 277 destinations worldwide, 229 international and 48 domestic, according to the company’s website.
The success of Turkish Airlines has recently become a case study at Harvard Business School (HBS), one of the world’s most prestigious institutions.

The case study called “Turkish Airlines: Widen Your World” explored the company’s transformation from a…

Donna Siebrasse of Sanchiz,Siebrasse & Asociados, elected President of the Board of Directors of the World Trade Center Panama

Panama, Panama / Donna Siebrasse of Sanchiz,Siebrasse & Asociados, elected President of the Board of Directors of the WorldTradeCenterPanama organization. Donna Siebrasse, Partner of the well known Communications and Public Relations firm in Panama, Sanchiz, Siebrasse & Asociados SA with more than 30 years of experience in the national an international markets was elected on February 25th, as new President of the Board of Directors of the World Trade Center Panama (WTC) organization.
The World Trade Center Panama Complex is centrally located within the financial district and gives easy access to many local amenities. It’s been built in 1996 with the highest standards of design and construction and is monumental in its structure. It is also one of the few buildings in Panama City that complies with the US Fire Code and provides high security to tenants and visitors.
It consists of 2 towers and a commercial area. The primary tower contains 20 floors with 84 Class A Offices and …

Flyte Systems installed At Trump International Hotel & Tower Panama

Panama, Panama / Flyte Systems installed At Trump International Hotel & Tower Panama.Flyte Systems expanded its international presence with the announcement that the Trump International Hotel & Tower Panama implemented the FlytePass boarding pass printing travel service. FlytePass enables guests to confirm flights and print boarding passes in the comfort of the TrumpPanamaBusinessCenter. Click here to request information on Flyte Systems' airport travel and guest information services.
“We have a truly international guest mix with about 60 percent business travelers. Virtually all of them arrive at our property from the TocumenInternationalAirport here in Panama City, Panama. This is why our new FlytePass boarding pass printing service is so valuable,” said Erica Moreno, property director of sales and marketing. “Most of our guests are experienced travelers. Many tell us how convenient it is to check flights and print their boarding pass while they are on property. It is the…

C&W Panama Taps Ericsson for WiFi Calling, VoLTE

Panama, Panama / C&W Panama Taps Ericsson for WiFi Calling, VoLTE. Cable & Wireless Communications said it has hired Ericsson to support an upgrade of the provider’s core network in Panama with an IMS and Evolved Packet Core solution that will enable enhanced services such as WiFi calling and voice over LTE (VoLTE).
CWP said the platform will enable its subs will have access to both voice and video calling, and “seamless handover” between LTE and WiFi networks.
Ericsson said the new WiFi calling solution is based on an Evolved Packet Core (EPC) with a WiFi Mobility Gateway  and Ericsson IP Multimedia Subsystem (IMS), and is verified on smartphone brands that support WiFi calling. Rollout, integration, and implementation are currently underway, they said.

"We are constantly working to enhance and upgrade our network and offer more services for our customers," Carlo Alloni, CWP’s EVP technology and group CTIO, said in a statement. "As a result of this upgrade, we wil…

Lesa Sroufe buys stake in Copa Holdings.

Panama, Panama / Lesa Sroufe buys stake in Copa Holdings.Lesa Sroufe & Co bought a new stake in Copa Holdings, S.A. (NYSE:CPA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 59,855 shares of the company’s stock, valued at approximately $2,889,000. Copa Holdings, comprises about 3.0% of Lesa Sroufe & Co’s holdings, making the stock its 17th largest position. Lesa Sroufe & Co owned about 0.14% of Copa Holdings, at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its position in shares of Copa Holdings, by 26.8% in the fourth quarter. Nordea Investment Management AB now owns 38,200 shares of the company’s stock valued at $1,844,000 after buying an additional 8,068 shares in the last quarter. Acadian Asset Management acquired a new posit…

ACONEX deployed by Odebrecht for Panama City's Second Metro Line in Panama

Panama, Panama / ACONEX deployed by Odebrecht for Panama City's Second Metro Line in Panama. Aconex Limited (ASX: ACX), provider of a leading cloud collaboration platform for the global construction industry, today announced that a joint venture led by Norberto Odebrecht Construction of Brazil, one of the largest construction and engineering companies in Latin America, is using Aconex solutions to manage project information and processes for the construction of Panama City's second metro line.
Valued at US$1.8 billion, the project will add 21 kilometers of elevated track, 16 stations and a depot to the capital city's metropolitan rail system. The new line is designed to transport up to 40,000 passengers per hour in each direction, and will have the option of being linked to Panama City's TocumenInternationalAirport in the future. The design-build joint venture of Odebrecht and Fomento de Construcciones y Contratas (FCC) of Spain plans to complete the project in only 4…

POSCO E&C wins US$650 mln construction deal in Panama

Panama, Panama / POSCO E&C wins US$650 mln construction deal in Panama. POSCO Engineering & Construction Co., a major construction firm in South Korea, said Thursday that it has won a $650 million deal to construct a large-scale power plant in Panama.
The contract signed with U.S. power operator AES calls for POSCO E&C to build a 380-MW thermal power plant and a gas storage facility in Colon, 60 kilometers north of Panama City, the company said in a press release.
The plant will be able to supply electricity to around 150,000 households simultaneously when it is complete, the company noted. It did not provide other details including when the construction will start or be completed.

This marked the latest contract that POSCO has secured from Latin America since it entered the region by winning a power plant construction deal in Chile back in 2006.

Kongsberg Maritime opens new Office in Panama

Panama, Panama / Kongsberg Maritime opens new Office in Panama. Kongsberg Maritime has established a new country office in the Republic of Panama. Opened in January 2016 and situated close to Panama City, Kongsberg Maritime Panama will service merchant fleet customers transiting the Canal and the extensive tug sector in the region, in addition to providing support for on-going or planned land reclamation dredging and new port and terminal construction projects.
Kongsberg Maritime Panama expands the Norwegian headquartered maritime technology company’s global presence to 65 offices, all operating in key shipbuilding, merchant shipping and offshore hotspots around the world. The Kongsberg Maritime Panama office is located in Panama City’s maritime district, close to ship terminals and launch boat stations for the waiting anchorages.
The set-up and management of Kongsberg Maritime Panama is carried out by Mr. Peter Pigmans, closely supported by the Kongsberg Maritime office in New Orl…

Self-Storage Conference LanAmExpo 2016 to Be Held in Panama

Panama, Panama / Self-Storage Conference LanAmExpo 2016 to Be Held in PanamaThe inaugural LanAmExpo, a tradeshow designed for self-storage facility developers, investors and operators interested in the Central and South America markets, will be held July 13-14 at the Hilton Panama in Panama City, Panama. The event will feature seminars and vendor exhibits representing all aspects of the storage business, including development, marketing, software and security, according to a press release.
Seminars will focus on facility development, management and marketing as well as investor-related topics including feasibility, project valuation and others, according to the show website. Panel discussions, vendor presentations and a cocktail reception are also on the agenda.
Speakers include David Blum, president of Better Management Systems LLC; Lance Comstock, president and CEO of PTI Security Systems; Markus Hecker, chief operating officer at SiteLink; Jay Massirman, managing principal at Riv…

Cash Flow Depot, a leading online real estate investor training company, announces its 2016 retreat to be held in Panama

Panama, Panama / Cash Flow Depot, a leading online real estate investor training company, announces its 2016 retreat to be held in Panama. The event will discuss the biggest money making opportunities in 2016.
Excitement is brewing up at Cash Flow Depot as the company prepares for its 2016 real estate investor training retreat in Panama. The 2016 Cash Flow Depot convention will take place at the beautiful Bijao Resort in Santa Clara, Panama from April 8 to 10. Participants will be treated to an inclusive, luxurious hotel on the Pacific Ocean and quality real estate investor training.
Cash Flow Depot’s general manager and veteran real estate entrepreneur, Jackie Lange, says that the convention will focus on 2016 real estate trends and investment strategies that have the least amount of risk. “There are many ways that we can be able to accomplish these goals, so all of these strategies will be discussed in detail during the retreat.”
Cash Flow Depot has invited speakers who have a successf…

SolarCentury unveils unsubsidised solar farm in Panama.

Panama, Panama / SolarCentury unveils unsubsidised solar farm in Panama.  British solar firm finishes construction of 9.9MWp project in central Panama. British renewables developer Solarcentury has continued its international expansion drive with the unveiling of one of Panama's largest solar farms.
The 9.9 megawatt peak (MWp) farm, dubbed Divisa Solar, was built in Coclé province in central Panama and is one of the first solar farms in the country to be connected to the national grid. It is now generating enough electricity to power around 3,000 homes.
"Bringing our vast engineering expertise and management experience, and strong health and safety record, to build one of Panama's very first solar farms has been an insightful experience for Solarcentury in this nascent solar market," said Frans van den Heuvel, chief executive of Solarcentury, in a statement. "As more and more countries around the world reach grid parity, solar becomes even more economically viable…

Diamante Enters into Gold Stream Agreement from Molejon Gold Mine in Panama

Panama, Panama / Diamante Enters into Gold Stream Agreement from Molejon Gold Mine in Panama. Diamante Minerals, Inc. (OTCBB: DIMN), a natural resources company, today announced a gold stream agreement for the Molejon Gold Mine, located in the Donoso District, Colon Province of Panama.
Diamante has negotiated a royalty of 12.5% on 1,000 ounces of gold produced per month for 12 months.  In the event monthly production exceeds 1,000 ounces Diamante is to receive an additional 5% royalty. Diamante will receive the royalty upon completion of bridge funding to Blendcore LLC who acts as the master contractor for the mine owned by Petaquilla Gold, S.A.  These funds will be used to re-start one processing line at the mine to allow the treatment of stockpiled minerals.
Under the terms of the agreement the loan is to be forgiven provided that there is at least 12,000 ounces of gold produced during the 12 month period which is subject to the 12.5% royalty.  A portion of the stockpiled minerals …

Del Monte to invest $120 million dollars to produce bananas.

Panama, Panama / Del Monte to invest $120 million dollars to produce bananas. Del Monte stated at the Chamber of Commerce, Industry and Agriculture of Chiriqui (Camchi) that it would invest 120 million dollars in 1,300 hectares in the district of Baru that are devoted to the cultivation of bananas for export.
"We are telling the Chamber of Commerce of Chiriqui and the former employees that we are interested in boosting banana production and that we are going to invest 120 million dollars, which will allow us to reactivate the activity in the district of Baru," said Luis Gomez, a spokesman for the company.
He said that they were currently in the process of acquiring the different blocks of land from the former employees and the Government to make it a profitable business, as the 120 million dollars will be invested in stages.
However, he said, they were seeking a clear way to acquire the land to implement the project in a short time so they can start exporting bananas as soon as…

Scotiabank Buys Citigroup' Consumer And Commercial Banking In Panama

Panama Business News / Scotiabank Buys Citigroup' Consumer And Commercial Banking In Panama. Scotiabank said in a recent press release that it has acquired Citigroup's consumer and commercial banking operations in Panama (and Costa Rica). The signing of these acquisitions was announced in July 2015 and the transactions are valued at approximately US$360 million.
The acquisitions triple Scotiabank's customer base in Panama and Costa Rica from approximately 137,000 to 387,000.
The transactions include 21 branches, 88 ABMs and 4 service centres serving more than 250,000 consumer and commercial banking customers.
Scotiabank and Citigroup will work together to ensure a smooth transition for customers and employees during the integration process, which should take 24-36 months.

Tthe acquired entities will remain separate during the integration process and the businesses acquired from Citi will operate under the name "Scotiabank”.

Banco Europeo de Inversiones se instalará en Panamá

Panama Business News / Banco Europeo de Inversiones se instalará en Panamá.  BEI anunció que la entidad bancaria abrirá una oficina en el país, la primera en AL.
El Banco Europeo de Inversiones (BEI) anunció el inicio de operaciones en Panamá de su primera oficina regional para América Latina durante el primer semestre de este año. El BEI, creado en 1958, es el órgano financiero comunitario de la Unión Europea que concede préstamos para proyectos dentro o fuera del bloque europeo.
La noticia se dio durante una reunión de trabajo con autoridades del Ministerio de Relaciones Exteriores, donde se conversó además del Plan Quinquenal de Inversiones del gobierno que preside el mandatario Juan Carlos Varela Rodríguez, que destina 17,500 millones de dólares en proyectos sociales, de infraestructura vial, logística y medio ambiente.
El BEI invierte en proyectos energéticos y de infraestructura en Panamá. Recientemente, se concluyeron negociaciones con el Ministerio de Economía y Finanzas para fin…

Agentes de bienes raíces de EE.UU. firman alianza con Acobir

Panama a Business News / Agentes de bienes raíces de EE.UU. firman alianza con Acobir. El presidente de la National Association of Realtors (NAR), Chris Polychron, llegó a Panamá reicentemente al frente de una nutrida delegación de expertos de NAR, con mas de 1,5 millones de afiliados, para explorar las condiciones del país y suscribir un acuerdo de colaboración con sus pares de la Asociación de Corredores de Bienes Raíces (Acobir).
"Empezamos una nueva alianza con Acobir" con la firma del acuerdo de colaboración, añadió. "Estamos viendo a Panamá como un gran destino para ellos, los 'baby boomers', y creemos que esa tendencia así va a seguir siendo", indicó Polychron, quien describió que la crisis de 2008 obligó a muchos a posponer sus planes de retiro.
El dirigente sostuvo que NAR ofrece a los socios de Acobir hacerse "miembros internacionales" y una vez así "se puede compartir negocios, conocimientos en el mercado estadounidense y es una mane…

Trabber abrió su plataforma para Panamá

Panama Business News / Trabber abrió su plataforma para Panamá. La empresa, un buscador de ofertas en hoteles, pasajes y restaurantes abrió recientemente una plataforma online para nuestro país.
El servicio dirigido a los turistas es un buscador (, que ofrece a los viajeros encontrar vuelos baratos, hoteles y carros de alquiler.
Oscar Frías, ejecutivo principal de Trabber,señalo que el servicio lleva varios años de implementado en Europa, y en el 2013, empezó la expansión a América Latina. Frías indicó que actualmente la empresa se encuentra en 26 países. El buscador no tiene costo alguno para los clientes, señalo Frías.
La compañía tiene alianzas con aerolíneas, agencias de viajes, y sitios webs de reserva de hoteles y carros de alquiler.
“Nuestro modelo de negocio se basa en que las agencias de viajes y aerolíneas compartan con nosotros parte del beneficio que les reportan los clientes que les llegan desde nuestro portal comercial. Estamos en busca de llegar …