Thursday, March 31, 2016

Lady Victoria mangoes from Panama Organics bound for Europe

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 market when it comes to waste, and organic and sustainability certifications, which, according to Winstead, are consistent with the philosophy of the company.

Panama Organics is setting up 2,000 hectares for the production of organic mangoes (mainly Lady Victoria) in the province of Cocle, Panama, with an estimated yield of 30 tonnes per hectare, i.e., a total of 60,000 tonnes, of which the company sells as much as possible in the domestic market (which is not very large) and exports the rest. Its season runs from May to July, more or less at the same time as those of Costa Rica and Mexico, although the exporter does not believe they will be competing with other countries, as their variety does not exist anywhere else. "It is rather a niche market. Mexico or Peru grow other varieties," he argues.

This year, the season will be extended as a result of El Niño. While the impact of this weather phenomenon tends to be negative, this year it seems to have been beneficial for Panama Organics. "For other countries, El Niño has resulted in many rains; in Panama, the effect has been the opposite: we've have drought," explains the producer. The company is prepared for this, since it has access to many water resources, including groundwater wells and artificial lakes, so the drought has not harmed it, but actually lowered the relative humidity and removed all types of fungi and nematodes. "El Niño has extended our summer season by almost two months, until September, which has been rather positive, because we were prepared for it," he added.

As for the Asian markets, the producer prefers to take things one step at a time and strengthen the European market first. "At Fruit Logistica, we met many interested parties from the Middle East and other parts of Asia," he explains. "As more hectares planted with our variety become productive, we will have greater volumes available for any market that is interested. Now we want to be very cautious, because our philosophy is to promise little to accomplish much," he admits, adding that they prefer to learn the peculiarities of each market before rushing in headlong. "We do not expand fast, but we do it properly."

The transit time of the company's mangoes from Panama to the port of Rotterdam, one of the main gateways to Europe, is 14 days, half the time of most mangoes. For other countries, where it is impossible to reduce transit times in this way, they make use of air freight.


Because of the high export standards, the best fruits are intended for the fresh market and the rest for processing; however, the mangoes require a delicate handling process. "If, during the harvest, a drop of sap falls on a mango, a stain remains and because of this you have to sacrifice a fruit that is perfectly suitable for the fresh market and sell it for processing," he adds. The company has its own facilities for processing. "We have quick freezing (IQF); we also produce pulps and purees and dehydrated mangoes," states Winstead. "It is our great industry and one of our biggest customers is the United States through juice companies; a growing trend on a global scale," he concludes. 

Barbie Room introduced at the Hilton Panama

Panama, Panama. 03-31-2016 Barbie Room 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 changing room and a runway where the fashion icon's fans can model.

"Since opening, Hilton Panama has made every effort to offer innovative products and services our guests will appreciate and this latest initiative reinforces our commitment," said Andres Korngold, director of business development, Hilton Panama. "We recognize the importance of maintaining a healthy balance between work and home and the Barbie® Room is an excellent way to help our business, and frequent travelers, enjoy an unforgettable experience with their families."

Hilton Panama is also offering an array of Barbie® themed activities for all hotel guests. Hilton Panama executive chef, Germán Ghelfi, has created a Barbie® themed menu, while the eforea Spa salon at Hilton Panama welcomes guests with a special Barbie® beauty package. Additionally, Barbie® Room guests can enjoy the pool and other hotel services and amenities.
Hilton HHonors members who book the Barbie® Room also enjoy benefits of Hilton HHonors®, the only hotel loyalty program that allows members to earn Points & Miles® on the same stay and No Blackout Dates on reward stays
.
About Hilton Panama
Located in Panama City's financial district, Hilton Panama is a first class property just 13 miles from Tocumen International Airport and five miles from the Panama Canal. The 347 room Hilton hotel in Panama City boasts an array of recreational facilities including a 5,000 square-foot fitness center, a 5,000 square-foot eforea spa, outdoor terrace swimming pool and a 50,000 square-foot Las Vegas-style casino. With more than 22,000 square feet of meeting space, including a 7,500 square-foot ballroom, and a 24 hour business center, Hilton Panama is the perfect choice for meetings and events. Dining options include Society Café - an upscale signature restaurant, Bar Blue and Ruth's Chris steakhous

Steve Forbes in Panama in April.

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 Megapolis Convention 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.


Forbes was a Republican candidate in the 1996 and 2000 Presidential primaries. Forbes is the son of longtime Forbes publisher Malcolm Forbes, and the grandson of that publication's founder, B.C. Forbes. Tickets to the event are available through PANATICKETS (www.panatickets.com).

Tuesday, March 29, 2016

EMA Partners International Announce Expansion in Panama

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 well as current practices and trends in our business with our global partners. We believe this association will give us the opportunity to offer our services to international companies that are considering Panama as a strategic point for expanding their businesses in Latin America and the Caribbean.”

Mr. Cardoze,  with almost 20 years of experience in executive search consulting, is considered a pioneer in Panama in the executive search practice. Started his own firm when he retired from a successful career as a CEO-level executive for local and multinational companies, including Shell Oil and Xerox Corporation where he was General Manager of the Panama subsidiary for more than 10 years.

He is a graduate of Texas A&M University and Columbia University’s Business School (MBA), he has also attended many international seminars and training courses on management techniques, marketing, finance, strategic planning, human resources management, leadership skills, competitive bench-marking, total quality and others. He is currently member of the board of directors of several Panamanian companies and has served several times as a board member of Amcham Panama.

“It is a privilege to welcome Mr. Cardoze and his team of consultants. We recognize that our expansion into Panama widens our international scope and affords the organization much to look forward to when working on cross-border searches,” said Jean Raymond.

About EMA Partners International

Since 1988, EMA Partners International has built an global partnership of executive search professionals, and is currently one of the largest executive search firms in the world. With more than 40 offices on six continents they are dedicated to satisfying the senior executive search and talent management needs of their clients.



Wednesday, March 23, 2016

World Trade Center Panama and Capital Sign Business Strategic Alliance

Panama, Panama / World Trade Center Panama 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 Donna Siebrasse, President of the World Trade Center Panama Complex and Managing Partner of Sanchiz, Siebrasse & Asociados, S.A., were witnesses to this historic agreement.

The main objective of the World Trade Center Panama, www.wtcpanama.org, is to gather under one roof the companies involved in international trade and to provide services that will help to facilitate growth, fulfilling its goal to foster communications and business culture locally and internationally. The WTC Panama connects various economic sectors at the local and international level, creating business synergies that cross borders. Among the services they offer are commercial services, club, conference facilities, exhibition facilities / services, trade missions, business information group, tenants and office services (virtual and physical).

The World Trade Centers Association, www.wtca.org, stimulates trade and investment opportunities for developers of commercial properties, economic development agencies and international businesses looking to connect globally and thrive locally. The exclusive 330 WTC properties and commercial organizations that bear the service mark "World Trade Center" are in more than 100 countries and have a workforce of more than 15,000 professionals that together, deliver a reciprocal basis resources to meet their needs of business.


Capital favors free enterprise, competition, trade liberalization and modernization of the state, so that it is editorially against monopolies, trade barriers and all that distort the economic environment and affect the business and macroeconomic performance of each country.

Tuesday, March 22, 2016

Pershimco exempted of Taxes by Panama Government

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 this project has for the Azuero region and the positive approach the Panamanian government is taking towards its plan to make the mining sector a pillar of its economy within the next years."

The Company is currently reviewing the impact it might have on the main assumptions included in the Prefeasibility Study. Nevertheless, for the Project, the Company expects that this new exoneration would have a significant positive direct impact on the NPV and IRR.

This ITBMS exoneration signed with the Ministry of Economy and Finances of Panama also represents a significant savings in construction and operation costs of the mine. The Project represents the largest operating company in the region and one of the largest investments in the province. MCQSA has also been an active player in the economic development of the Los Santos province maintaining a close relationship with the local communities. MCQSA continues to reinvest in the Azuero Region through education programs, worker training programs and special cooperation programs with hospitals as well as a number of sustaining local economic activities.

About Pershimco Resources Inc.

Pershimco Resources Inc. (TSX VENTURE: PRO)(FRANKFURT: BIZ) is a mineral exploration and development company with a near-term gold oxide production scenario and a copper-gold porphyry target at its 100%-owned Cerro Quema Project in Panama. Cerro Quema's sizable concession boasts paved road access, no indigenous communities and the most favorable climate for mining in the country. Pershimco is currently in the last stage of the permitting process for its proposed gold oxide heap leach operation.


Additionally, the Cerro Quema Project has proven to have significant exploration upside with resource expansion potential in over multiple oxide targets identified along a 17 km trend, gold and copper in the sulphide system below the oxide caps, as well as porphyry indicators along a 12 km strike length that highlights the potential for a nearby copper-gold porphyry system. With strong shareholder support, Pershimco aims to achieve cash flowing status in 2017 to continue uncovering the value of Cerro Quema. Please refer to the Cerro Quema Project - Pre-Feasibility Study on the La Pava and Quemita Oxide Gold Deposits, available on the Company's website, and filed on SEDAR on August 22, 2014 as well as to the press release of July 8, 2014.

Sunday, March 20, 2016

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

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 continued strong performance of its group life and health businesses. In addition, CIS’ automobile line of business improved its performance due to a mix of improved underwriting, new innovative products and CIS’ strategic focus on specific niches. Financial income continues to support CIS’ results while it maintains a sound risk profile; however, the company is not dependent on these revenues in order to achieve positive bottom line results. CIS continues to underperform in its fire business, mainly derived from strong competition in this business line, which is also generating losses in this industry segment. Although the overall performance of the company is strong, it constantly reviews its underwriting guidelines in order to improve the performance of business segments that are deviating from targets.

CIS’ growth was in line with Panama’s insurance industry; the company was able to achieve this growth given its brand recognition. CIS’ capitalization is very strong and is expected to remain stable in the upcoming years.


Despite the many positive characteristics of CIS, the ratings are still limited by the competitive environment present in the market, as well as A.M. Best’s perception of the country risk in Panama. Positive factors that might improve the current rating level or outlook include improvements in Panama’s risk profile in combination with a stable upward trend in CIS’ profitability while maintaining supportive risk-adjusted capitalization. Factors that might lead to negative rating actions include protracted adverse underwriting and overall performance, a significant deterioration in its risk-adjusted capitalization or a downgrade of Panama’s country risk tier rating.

Tuesday, March 15, 2016

Multivista Opens in Panama

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 market knowledge and industry experience to Multivista Panama. Davila worked in the banking industry as a Corporate Banking Officer servicing the construction loans sector. “I managed a very dynamic portfolio of clients and large corporate accounts,” Davila said. “This gave me a solid understanding of the financial aspects and processes of our local construction industry, as well as insight into how rework, construction errors, claims, legal actions, and the lack of documentation can severely affect a project’s financials.”

Ramon Colina also has significant experience in banking, sales, and construction. In 2013, Colina left the banking industry to manage Grupo Colina, a family-owned group of companies that specialize in general contracting, marine construction, land ownership and development, and water supply and installation. Colina said, “The experience with my family’s business and the existing relationships within the local industry will be a big help to grow our sales with Multivista.”

Multivista construction documentation captures progressive visual records of actual construction conditions that can be accessed via an integrated software platform. The system and services improve jobsite productivity and collaboration throughout a building’s life cycle.

Multivista Panama will serve the entire Republic of Panama including Panama City, home to nearly half of the country’s 3.9 million people. Both Colina and Davila expect their new Multivista franchise to have immediate effects on Panama’s construction industry. “With Multivista, project teams can record and document every square foot at every milestone during the entire construction process” said Davila. “We are looking forward to driving industry-wide adoption and seeing Multivista become a recognized, valued tool in Central America.”

About Multivista


Multivista is the leading provider of visual documentation services to the Construction and Facilities Management Industries. It combines photography, video, and webcam services with a robust software delivery platform to create interactive records of actual construction conditions and events. Increasingly a project standard on all types and sizes of construction projects, industry professionals use Multivista® documentation to improve efficiency, enforce accountability, verify quality, reduce risk, and control costs – before, during, and after construction. Founded in 2003, Multivista now operates in more than 50 major metropolitan areas across the United States, Canada, the United Kingdom, and Panama. Multivista has been awarded contracts to document more than 1.5 billion square feet of construction projects in the last seven years alone, compiling a global portfolio that represents nearly every vertical market.

Sunday, March 13, 2016

Pana Mining Holding engaged with a major Nevada Gold Project

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-scale operations economically viable.

The area was once ocean bottom and when the seas receded, significant mineral deposits were formed.

Though the region is effectively a vast desert, the water table is unusually close to the surface, a factor that facilitates easier mining.

“Numerous geological studies have confirmed the presence of 1-2 ounces of gold per ton of ore but its composition has, until now, repeatedly frustrated efforts to extract it cost-effectively until now,” Devansh Garg, Chief Executive Officer at Pana Mining Holding Group.

“Our Green Gold System 2 technique has yielded highly-impressive results while keeping a firm lid on costs.”

“Given the efficacy of our technique and the obvious benefit to the owners of a joint venture, we would expect to be in a position to make a formal announcement of a memorandum of understanding shortly,” says Garg.    





Friday, March 11, 2016

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


Panama, Panama / Emirates Puts Panama Latin 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 South and Central America for us and has huge potential, but we needed to get the aero-political structures in place,” Clark said. Flights via Dubai would offer access to western Asia, the Middle East and North Africa “in a very clean and easy way,” he said.

Emirates plans to retain staff already hired in Panama City while working to deliver the accord with Copa, which promotes its base at the capital’s Tocumen International Airport as “The Hub of the Americas.” The Panamanian national carrier averages daily flights, with the highest number of international services in Latin America, according to its website.

Copa last year ordered 61 Boeing 737 Max single-aisle jets worth $6.6 billion at list prices in the largest-ever deal between companies in the U.S. and Panama. The planes will replace older 737s among a fleet that numbers more than 70 single-aisle aircraft, according to the website.


“You may wonder why people would travel from Guatemala to Dubai -- or from Belize or San Salvador -- but we know there is quite a lot of business,” Clark said. “Panama itself is like a mini-Dubai when you look at some of the cities in Central and South America.”

Cable & Wireless Panama announces new CEO appointment

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 Harvard University, in the United States. Before joining Cable & Wireless Panama served as CEO of Sonitel Group.

Thursday, March 10, 2016

API opens offices in Terrazas de Albrook

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. Omar Torrijos Herrera, Centro Empresarial Terrazas de Albrook, Office D17.

Aero Expo Panama Pacifico will be held in April 2016

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.

Panama Pacifico International Airport 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 opportunities and challenges for operators and manufacturers.  It is a unique opportunity for all participants to enhance their knowledge about the regional market, learn about regional infrastructure developments, and network with leading experts.

Participating companies will represent business aircraft operators and manufacturers, FBO operators, safety and security experts, financing companies, and sectors such as insurance, software technology, airport infrastructure, aircraft registration and other areas that affect business aviation in the region.


The event will also provide a unique networking opportunity for business aircraft operators, aircraft manufacturers, registries, banks, airports, law firms, financial analysts, leasing and finance companies and any aviation professional with an interest in the development of the business aviation sector in Panama, Latin America and the Caribbean. Trade visitors will have the opportunity to pre-arrange for one-to-one meetings with exhibitors.

Tuesday, March 8, 2016

ENGIE to Supply LNG to AES Power Plant Project in Panama

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 perspective of broader common developments in the region in the field of natural gas. We consider natural gas as a key component, alongside the renewable energies, of the energy transition which is currently taking place on a global scale. It is ENGIE’s commitment to foster its expansion worldwide, in particular in the form of LNG as a flexible, clean and competitive energy supply.”

ENGIE is a global LNG player and the main European LNG importer, with a diversified LNG supply portfolio and a fleet of 14 LNG carriers, including two Floating Storage and Regasification Units (FSRU). ENGIE constantly optimizes its LNG sourcing and shipping portfolio both to manage long term commitments and short term opportunities. The Group owns and operates several LNG terminals around the world.

About ENGIE

ENGIE (engie.com) develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 154,950 people worldwide and achieved revenues of €69.9 billion in 2015. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (Eurozone 120, Europe 120 and France 20)


Thursday, March 3, 2016

Lufthansa begins new Panama City service

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 Central American country. With its unspoiled beaches and its large number of national parks featuring rainforest, mangroves and a unique underwater world, Panama offers vacationers in particular an unforgettable stay.

Panama is also an ideal starting point for exploring various Central American countries and the islands of the Caribbean. And in this regard, Lufthansa’s new bilateral codesharing agreement with Copa Airlines, on of Central America’s leading air carrier, which is based in Panama City, offers a wide range of advantageous onward travel options.

Under the new codeshare accord, Lufthansa travelers can fly on with Star Alliance partner Copa Airlines from Panama City to any of 73 further destinations in Ecuador, Venezuela, Peru and Costa Rica, many of them bookable under Lufthansa flight numbers. In return, Copa Airlines customers gain access to the global network of the Lufthansa Group, which currently extends to 261 destinations in 101 countries.

Since both partner airlines are members of Star Alliance, their customers can also earn and redeem miles on both carriers under the ConnectMiles and Miles & More programs. As a further benefit of the new partnership, Lufthansa travelers can check their baggage right through to their final Copa Airlines destination, obtain all their boarding passes for the trip at their first airport of departure and enjoy lounge access at Panama City Airport.


While Panama City is a new addition to the Lufthansa route network, the Lufthansa Group is no stranger there. LSG Sky Chefs opened a state-of-the-art new production facility at Aeropuerto Internacional de Tocumen in March 2014, replacing the previous facility, which had been in use since 1963. The new development is part of a broader airport expansion that has been prompted by the substantial growth in passenger numbers in the last few years. The facility currently employs some 500 personnel, who produce an average of 27,000 meals a day for around 200 flights.