Real Estate News

Panama moves to top of Obama's list for a trade agreement

Source: Los Angeles Times, May 21, 2009

A frequent critic of NAFTA and other trade pacts when he was on the campaign trail, President Obama is now throwing his support behind a trade deal with Panama, courting a potential backlash among his labor supporters. The Panama trade deal, which Obama is pushing for approval of by July 1, is one of three bilateral accords negotiated by the Bush administration that later stalled in Congress.

With its canal, growing transportation infrastructure and booming U.S. tourism and trade, Panama has taken on an important profile, said one person familiar with the Obama administration's thinking. Panama is also a staunch ally in the U.S. war on drugs, U.S. counter-narcotics officials say.





Panama Canal to host International Maritime Conference

Source: Martime Global Net, May 18, 2009

Demonstrating its commitment to excellence and technological innovation in the maritime industry, the Panama Canal Authority (ACP) Center for Maritime Training, Research and Development will host the 2009 International Conference on Marine Simulation and Ship Maneuverability (MARSIM) August 17-20.

For the first time, MARSIM will be held in Panama City, Panama, where maritime industry leaders, academics and researchers will come together from across the globe to share the latest developments in marine simulation, safety and ship maneuverability, and discuss the progress and anticipated benefits of the Panama Canal Expansion Program.





Panamanian artisans show their work to the world

Source: The Panama Post, May 18, 2009

At least five hundred artisans will show their craftsmanship at the XXXII National Handicraft Fair, held this year from May 27 to 31 at the ATLAPA Convention Center in the capital city under the motto "Amemos lo nuestro"(Letīs love our creations).

This traditional fair has grown year by year since its beginning until becoming one of the most important fairs in Panama. It attracts many tourists who take advantage of this opportunity to buy souvenirs at reasonable prices.





Hilton Hotels Corporation Announces Return to Panama with Four Properties

Source: Business Wire, May 14, 2009

Hilton Hotels Corporation announces its return to Panama with the signing of four multi-year agreements in Panama City, Panama.

"We are truly excited about these developments in Panama City and being back in such a great city," commented Daniel Hughes, senior vice president of operations, Caribbean, Mexico, and Latin America, for Hilton Hotels Corporation. "These newest additions reinforce our commitment to add a number of properties to our Central America portfolio and to have a presence in one of the region's fastest growing destinations. We're looking forward to being part of a thriving city that continues to offer some of the best tourist attractions in the region."





Telefonica Movistar promotes cell phone recycling

Source: Capital.com.pa, May 12, 2009

Telefonica Movistar launched the program "The earth calls: Answer!", through which invited its customers to recycle their obsolete cell phones, batteries and chargers, in exchange for this the company offers to plant a tree for each equipment delivered.

The Panamanian company Recimax will be responsible for the recycling, and the Foundation Natura will coordinate the reforestation program in several communities around the country's major watersheds.





Procedures to build in Panama are faster: WB

Source: Prensa.com, May 10, 2009

In Panama, on average, a building permit can be obtained in 131 days, according to Doing Business Index 2009, carried out by the World Bank (WB). And that makes it the third country in Latin America where it is faster to perform these procedures.

In the regional ranking is only exceeded by Honduras (125 days) and Colombia (114 days), stressed the consulting firm Indesa.





Banco General of Panama Begins Operations in Costa Rica

Source: Summa News, May 7, 2009

The first branch will be officially opened on May 21, and it expects to open 10 to 15 more branches over the next five years.

Federico Albert, vice president of international banking, said that this branch will provide business services and also serve the personal banking segment.





Panama:Telecoms, Mobile, Broadband and Forecasts

Source: Business Wire, May 6, 2009

Panama's telecom market is one of the most advanced in Central America. With the region's second-highest GDP growth forecast for 2009, plus two new competitors entering the mobile market, the outlook is promising for mobile telephony in Panama.

Panama's geographical position and connection to numerous submarine cables have made it a burgeoning business hub and strategic location for telecom companies and Internet Data Centres. The country's broadband market has the highest broadband penetration in Central America.






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