Panama

17th Century ‘Pirate’ ship found off Panama City

by Ray Clancy on August 24, 2011

Pirate ship found off Panamanian coast

The wreckage of a ship thought to have belonged to Sir Henry Morgan, the 17th Century Welsh buccaneer, has been found off the coast of Panama.

His flagship vessel The Satisfaction has been discovered by archaeologists from Texas State University diving near the Lajas Reef. [click to continue…]

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Panama City hotel industry demand soars

August 19, 2011

The hotel industry in Panama City is set to take off as demand for business and leisure accommodation soars, it is claimed. The city, often referred to as the Miami of Central America, is seeing huge demand from tourists but it is a surge in the business travel sector that is expected during the next [...]

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Former dictator Noriega to be extradited to Panama

August 3, 2011

Notorious former dictator Manuel Noriega is to be extradited to Panama where he faces 20 years in jail over the death of a political opponent. Noriega, Panama’s military dictator from 1983 to 1989 is currently serving a seven-year sentence in prison in France for money laundering. He was found guilty of laundering $3 million in [...]

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Panama and Argentina set to lead growth in Latin America

July 29, 2011

Panama and Argentina are expected to lead economic growth in Latin America in 2011 with both countries expected to see Gross Domestic Product of over 8% this year, according to the sixty-third edition of the Economic Survey of Latin America and the Caribbean. The report from the Economic Commission for Latin America and the Caribbean [...]

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More hotel expansions for Latin America

July 18, 2011

Spanish hotel operator RIU has opened its first urban hotel in Mexico in Guadalajara, the capital of the western state of Jalisco, at a cost of $110 million. The property, the company’s second urban hotel in Latin America, will serve business travelers in Guadalajara, which is hosting the Pan American Games in October.

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Panama and Costa Rica no longer considered tax havens

July 13, 2011

Panama has been added to the White List of transparent tax regimes, having met international standards on the exchange of tax information. The Organization for Economic Co-operation and Development confirmed that the Latin American country has been moved to its list of jurisdictions considered to have substantially implemented the standard for exchange of information when [...]

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Cities compete to build Latin America’s tallest buildings

June 15, 2011

The much-awaited Trump Tower, one of Latin America’s tallest structures opens in Panama next month and is being hailed as an example of the way forward for the city. The Trump Ocean Club International Hotel & Tower Panama has been praised for its design with a silhouette that emulates a massive sail overlooking Panama Bay.

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First Hard Rock Hotel to open in Latin America

June 15, 2011

Global brand Hard Rock is to open its first hotel venture in Latin America with the new premises opening in Panama in December. The 66-storey Hard Rock Hotel Panama Megapolis will be located on Balboa Avenue and boast panoramic views of the city and Panama Bay. The hotel will have 1,499 rooms including 796 suites.

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US ports jostle for business from expanded Panama Canal

May 23, 2011

Business and political leaders in ports along the east coast of the United States are focusing fresh attention on economic development opportunities in Panama, hoping to get new business when the bigger, expanded canal opens in 2014. The $5.25 billion Panama Canal expansion is expected to be a catalyst for new trade lanes, serving new [...]

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Details of tax agreement between Panama and US confirmed

April 20, 2011

US tax investigators will need to provide specific allegations of tax cheating if they want information from banks in Panama, it has been confirmed. Panamanian Deputy Finance Minister Frank De Lima said there will not be a voluntarily forwarding of clients’ account information to US regulators as they step up efforts to prosecute alleged tax [...]

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Panama govt to attempt third sale of notorious Noriega mansion

April 18, 2011

A second attempt to sell the dilapidated house belonging to former Panamanian dictator Manuel Noriega has failed, the country’s ministry of Economy and Finance has confirmed. It was to be sold at auction but no bids were forthcoming at the asking price of $2.5 million.

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