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Showing posts from March, 2016

Lady Victoria mangoes from Panama Organics bound for Europe

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Panama, Panama. 03-31-2016. Lady Victoria mangoes from Panama Organics bound for Europe. Panama Organics is a company that produces its own organic yellow mango variety: the Lady Victoria. This niche product is the result of more than 25 years of research and development, which is the reason for the fruit's exclusivity. Now the company, which distributes its products in neighbouring countries and on the domestic market, will start exporting to Europe.
Lady Victoria mangoes are the main product of Panama Organics, which also produces and exports Hass avocados, yellow passion fruit and Persian limes. It exports to the United States and, for value-added processes, the company has its sights set on Europe, after experience acquired over four generations.
One of the motivations for this is the increased demand for exotic fruits and healthy organic products in European countries, a result of the growing popularity of healthy eating in the continent. Furthermore, Europe is a very strict ma…

Barbie Room introduced at the Hilton Panama

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Panama, Panama. 03-31-2016BarbieRoom introduced at the Hilton Panama. Hilton Panama and Mattel® team up to introduce the Barbie® Room to the latest generation of Barbie admirers in Panama City, Panama. Available March 8 through August 15, 2016, the room gives fans a chance to enjoy the magic of the toy world's fashion icon.
Bringing glamour, fun and fantasy to life with all the elements of a Barbie®-themed paradise, the Barbie® Room offers a connecting deluxe room for parents, grandparents or family members. Guests will be welcomed to the hotel with an oversized display from the most famous doll in the world for the first of many photographs.
Available for a period of five months, the room took four weeks to complete from design concept to unveiling. The room features exclusive Barbie® items not found anywhere else and welcomes guests to a Barbie experience like no other with décor, bedding, movies, toys, dolls, special amenities, games, furniture, pillows, toiletries, costumes, a …

Steve Forbes in Panama in April.

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Panama, Panama. 03-31-2016 / Steve Forbes in Panama in April. Steve Forbes, Publisher and Owner of the well known business magazine FORBES will be in Panama April 26th to give a lecture to Panama businessmen about how to navigate the economy for the success and business growth.
The prestigious conference will take place at the MegapolisConvention Center in Balboa Avenue and it is sponsored by several local and multinational companies operating in Panama.
Forbes was in Panama in 2002 for a conference held in Panama by USPA (United States-Panama Council) titled "Linking the World through Transportation, Telecommunications and Friendship." At that time,  USPA honored with the Friendship Award the Secretary of The Smithsonian Institute Larry Small; Congressman of Virginia Tom Davis; Minister of Foreign Relations of Panama Jose Miguel Aleman; CEO of Maersk Sealand USA Thomas Andersen; and Retired Chairman & CEO of Northville Industries/Petroterminal de Panama Harold Bernstein.

EMA Partners International Announce Expansion in Panama

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Panama, Panama (03-29-2016) / EMA Partners International Announce Expansion in Panama.  Jean Raymond, Regional Chairman for the Americas, announced recently EMA Partners International’s expansion into Panama, with its newest office located in Panama City.
The practice was first established in 1996 as Carhei Consultores, and offered services in the Republic of Panama. Since that time, the firm has become well established, and it is recognized as one of the region’s leading consulting firms in executive search. Today, EMA Partners Panama manages clients from national corporate groups, subsidiaries of multinational companies, banks and other financial services companies, as well as businesses in commercial and industrial sectors.
EMA Partners Panama’s Managing Partner, Camilo Cardoze stated that, “the association with an established international search firm will give us more exposure locally and internationally. And we look forward to sharing our experiences in executive search, as we…

World Trade Center Panama and Capital Sign Business Strategic Alliance

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Panama, Panama / World Trade CenterPanama and Capital Sign Business Strategic Alliance. Remy Swaab, Executive Director of the World Trade Center Panama, a modern, international business complex that is part of a network of more than 334 WTC’s in 92 countries around the globe and Néstor Altuve, General Manager of the well-known financial and business weekly, “Capital Financiero”, signed a Strategic Alliance today to foster synergies between these two well-known entities and to promote national and international business to and from Panama using their respective platforms, reach and competitive and comparative advantages in local and international marketplaces.
“We are delighted to join forces with Capital, an outstanding business and financial organization, perhaps best known for their weekly publication, “Capital Financiero”, published continuously in Panama since the year 2000,” stated Remy Swaab, Executive Director, WTC Panama.
Marco Williams De Souza, Williams & Associates and Do…

Pershimco exempted of Taxes by Panama Government

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Panama, Panama / Pershimco exempted of Taxes by Panama Government. Pershimco Inc. and its wholly owned subsidiary Minera Cerro Quema S.A. ("MCQSA") are pleased to announce that the Government of Panama has approved, by Ministerial Resolution, exoneration of taxes on all local and imported goods and services for all work performed on the Cerro Quema mining concessions ("the ITBMS exoneration.")
The ITBMS exoneration also includes all contractors participating in the development of the Cerro Quema Gold Project (the "Project.") This ITBMS exoneration has a positive impact on the project's net present value ("NPV") and internal rate of return ("IRR"). The exoneration includes exemption from import duties, covering practically all supplies and equipment required for the construction and operation of the mine.
Octavio Choy, Pershimco's VP Latin America, commented: "This exoneration also clearly demonstrates the level of priority …

A.M. Best Affirms Ratings of Compañía Internacional de Seguros, S.A.

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Panama, Panama / A.M. Best Affirms Ratings of Compañía Internacional de Seguros, S.A. A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Compañía Internacional de Seguros, S.A. (CIS) (Panama City, Panama). The outlook for both ratings is stable.
The ratings reflect CIS’ excellent risk-adjusted capitalization, historically positive technical and bottom line results, its leading position in Panama’s insurance market, its strong reinsurance program and solid risk-management practices. Partially offsetting these positive rating factors are the challenges CIS faces operating in a relatively limited and increasingly competitive insurance market, as well as its concentration in Panama, which A.M. Best considers to have an elevated level of country risk (CRT-4).
In 2015, CIS was able to maintain its positive operating performance with a combined ratio of 91.7% and a return on premiums of 15.2%. These results are largely boosted by the co…

Multivista Opens in Panama

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Panama, Panama / Multivista Opens in Panama. Construction is booming in Panama and Multivista, the leader in visual construction documentation services, is excited to be a part of Central America’s fastest growing economy with its newest franchise—Multivista Panama.
New franchise owners, Angel Davila and Ramon Colina, are perfectly positioned to successfully launch Multivista’s first location in Central America and bring the exclusive web-based software featuring construction photo, video, and webcam services to the rapidly expanding construction and facilities management industries across the entire country.
“It is no secret that the construction spend in Panama has been on the rise during the last seven years,” says Davila. “We have survived every recession and we still see overall spending going up. Ramon and I clearly see the necessity for a tool like Multivista to help improve construction project accountability, quality control, and transparency.”
Both Davila and Colina bring local…

Pana Mining Holding engaged with a major Nevada Gold Project

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Panama, Panama / Pana Mining Holding engaged with a major Nevada Gold Project. Pana Mining Holding Group Corporation, the Panama based mining company, announced today that it is engaged in late-stage talks with the owners of a major Nevada gold project that, if concluded successfully, will see the Panama-based gold mining and exploration company enter into a highly lucrative joint venture.
The owners, who wish to remain anonymous because of an existing co-production agreement with another partner, have spent over US$26 million in development and research with varying degrees of success in terms of return on investment.
Negotiations center on the way forward, following a series of encouraging test extractions conducted on the clay-type ore indigenous to the Humboldt Sink by Pana Mining Holding Group.
Several larger mining companies have loose claims on other areas within the region but have had limited success in extracting enough metal from the difficult-to-process ore to make large-sca…

Emirates Puts Panama Latin America Hub on Hold Until 13 Nations Sign Up

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Panama, Panama / Emirates Puts PanamaLatin America Hub on Hold Until 13 Nations Sign Up. Emirates, the world’s biggest long-haul airline, put its plan to establish a hub in Panama connecting cities across Latin America with Asia on hold because government accords permitting cooperation with a key local carrier took too long to put in place.
Dubai-based Emirates has secured approvals from only three or four of the 13 countries from which it needs backing for a wide-ranging code-share deal with Panama City-based Copa Airlines SA, its president, Tim Clark, said at the ITB travel fair in Berlin. Emirates initially aimed to commence flights to Panama in February, before slipping the date to March and then saying last week that services won’t commence until late 2016 or early 2017. The 8,590-mile trip using Boeing Co.’s 777-200LR, the longest-range jet, would set an endurance record of 17 hours and 35 minutes when headed westbound into prevailing winds.
“Panama was a sort of entry point for So…

Cable & Wireless Panama announces new CEO appointment

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Panama, Panama / Cable & Wireless Panama announces new CEO appointment. Cable & Wireless Communications Plc. (CWC) announced the appointment of Julio Spiegel as new CEO and interim CEO of Cable & Wireless Panama (CWP), beginning April 15th, 2016.
Spiegel, who served as executive director of business corporate and government area of the company, replaces Agustin de la Guardia, who since last January 1st decided to retire to pursue other personal and professional activities, it was reported by a release.

Spiegel is a graduate in Electrical Engineering from the University of Missouri and has a postgraduate degree in Business Administration from HarvardUniversity, in the United States. Before joining Cable & Wireless Panama served as CEO of Sonitel Group.

API opens offices in Terrazas de Albrook

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Panama, Panama / API opens offices in Terrazas de Albrook. API Procurement & Services S.A. is an integrated company specializing in processes of the Supply Chain, primarily for the oil, petrochemical and gas industry worldwide, with an emphasis on business development in Latin America.
API Procurement & Services, S.A.It provides offshore consulting services in processes of materials management, planning, coding assets, purchases of goods and contracting of services, preparation of documents for contracts with national and international authorities.
Because of the “unification” of companies and businesses and their expansion, API Procurement & Services S.A. has established business partnerships with international companies with experience and expertise in Engineering and Project Management, primarily in Spain (Europe), Florida (USA) and Anzoategui (Venezuela).

The next office to be inaugurated will be the new API Procurement & Services S.A headquarters to be located in Av…

Aero Expo Panama Pacifico will be held in April 2016

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Panama, Panama / Aero Expo Panama Pacifico will be held in April 2016. Aeropodium and Air Link Atlantic announced the launch of the Aero Expo Panama Pacifico to be held on April 21-22, 2016 in Panama.
PanamaPacificoInternationalAirport is the platinum sponsor and official host of this major event in Panama City. The two-day program includes seminars on finance and legal issues as well as the future of Panamanian aviation with the participation of expert speakers.
Exhibitors include Dassault Falcon, Embraer Executive Jets, ARINCDirect and Rockwell Collins, JSSI, Mapiex, AirPro Components, Aviazion Group and Romack Services.  Furthermore, Credit Suisse will be the sponsor of the networking drinks reception during the exhibition.
Global growing traffic and aircraft demand present a challenge for the industry.  This event will provide the platform for the presentation of the latest developments in the business aviation sector of Panama, Latin America and the Caribbean and new business opp…

ENGIE to Supply LNG to AES Power Plant Project in Panama

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PanamaPanama / ENGIE to Supply LNG to AES Power Plant Project in Panama. ENGIE announces the signature of a binding Memorandum of Understanding with Gas Natural Atlántico, under which ENGIE will supply up to 400,000 tonnes of LNG per year from 2018 on a 10-year period at Costa Norte LNG Terminal in the Colon Province, Panama.
 Both subsidiaries of AES in Panama, Costa Norte LNG Terminal and Gas Natural Atlántico are currently developing an integrated LNG to power project at the entrance of the Panama Canal, to come on-line in 2018.
The project includes an LNG import terminal with 180,000 cubic meter storage capacity, which will provide natural gas to a 350 MW CCGT. This new Combined Cycle Gas Turbine will contribute to developing and securing Panama’s power demand by complementing the country’s hydro-power generation.
Gérard Mestrallet, Chairman and Chief Executive Officer of ENGIE, commented: “We are pleased to enter into this long-term relationship with AES in Panama, with the perspe…

Lufthansa begins new Panama City service

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Panama, Panama / Lufthansa begins new Panama City service. Lufthansa has started its new service to Panama City operating a 298 seater Airbus A340-300 aircraft (18 Business, 19 Premium Economy and 261 Economy). UK passengers are able to connect to flight LH 484 which departs Frankfurt at 10:15 local time, and are scheduled to arrive at the Aeropuerto Internacional de Tocumen in Panama City (PTY) at 16:40 local time. Eastbound flight LH 485 leaves Panama City at 18:45 local time and is due to land in Frankfurt at 11:35 local time offering passengers connections for flights to the UK. Lufthansa will be operating a five-times-weekly service on the new route all year round.
Panama has experienced strong and accelerating economic growth in the last few years. In addition to the world-famous Panama Canal, the country’s substantial banking sector, its favorable geographic location and its well-developed infrastructure are all key reasons for business and leisure travellers to visit this…