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Archive for May, 2024

BP To Reopen And Reverse Flow Of Mothballed Panama Crude Oil

Posted in panama economy, tagged , , , on May 29, 2024 | Leave a Comment »

Multinational oil corporation BP is planning on reopening and reversing the flow of a crude oil pipeline in Panama to bring Atlantic basin crude oil to west coast American markets. The pipeline was originally created to pump Alaskan crude from the Pacific to Atlantic side of the isthmus, yet was shut off in 1996 once [...]

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Versace To Design Interiors Of Vita Tower In Panama City

Posted in Panama City, Panama Real Estate, tagged , , , , on May 28, 2024 | 1 Comment »

Versace Home, the interior design arm of the global fashion house Versace, is designing the interiors for the new luxury residential high rise Vita Tower in Panama City.  Versace Home has designed only a limited number of other private developments, including the famous Plaza Hotel in New York City, and is hoping the project will [...]

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Why Hasn’t Eco-tourism In Panama Caught Up With Costa Rica?

Posted in panama economy, Panama Real Estate, tagged , , , , on May 27, 2024 | Leave a Comment »

While Panama has recently seen an increase in tourism, as reflected in hotel occupation rates, it still lags behind its northwesterly neighbor Costa Rica in attracting eco-tourists. This is surprising given Panama’s unique geographic location, high levels of biodiversity, and longstanding relationship with the United States. In addition to this, Panama is home to one [...]

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Panama Government Taking Measures To Lower Food Prices

Posted in Uncategorized on May 27, 2024 | Leave a Comment »

Panama President Martin Torrijos has announced several measures that aim to lower food prices in the country, particularly for rice. The government has announced that they will purchase 100% of the rice harvest in Panam21a this year, and sell it back to consumers at a fair price below market value. In addition to subsidizing rice, [...]

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Hydroelectric Dam Controversy Forces One Of Latin America’s Last Kings Into Exile

Posted in panama economy, tagged , , , , on May 22, 2024 | Leave a Comment »

A hydroelectric dam being built in a remote region of northwest Panama has created a major controversy among members of the Naso tribe, who have exiled their king for granting the Panama government permission to build a dam on a river that passes through their settlement. King Tito Santana is heir to a long successive [...]

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Developers Of Trump Ocean Club Bracing Themselves For Possible Lawsuit By Dubai Hotel Burj Al Arab

Posted in Panama City, tagged , , , , on May 21, 2024 | 3 Comments »

Raising the Roof reports that Newland International Properties Corp, the developer building the Donald Trump licensed Ocean Club in Panama City has requested a local court grant legal protection from Jumeirah Group, the developers of the iconic Burj Al Arab Hotel in Dubai. While the Dubai developers have yet to file a lawsuit, there have [...]

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Panama Pacifico At Howard Air Force Base To Be One Of The Largest Master Planned Developments In The World

Posted in Panama City, Panama Real Estate, tagged , , , , on May 20, 2024 | 1 Comment »

UK developer London & Regional is currently working on one of the largest master planned mixed-used developments in the world, Panama Pacifico, at the former United States Howard Air Force Base. The decommissioned US military facility was turned over to Panama’s government in 2024 when the United States officially ended their 90 year control of [...]

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Panama Ranks 48 In List Of Most Peaceful Countries

Posted in panama politics, tagged , , , on May 20, 2024 | Leave a Comment »

Panama was listed 48 in the Global Peace Index released by Britain’s Economist Intelligence Unit, putting Panama one spot ahead of the United Kingdom. The index ranks 140 different countries according to factors such as military spending and respect for human rights. Iceland and Denmark took the top spots in the rankings this year, beating [...]

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Panama Hoping To Reinvigorate The City Of Colon

Posted in colon, Panama Real Estate, tagged , , , on May 19, 2024 | Leave a Comment »

The government of Panama is hoping to reinvigorate their second city, Colon, which has suffered economically since the United States ended their military presence in Panama. Colon was founded in 1850 as the Atlantic terminus of the Panama Railroad, which was a major route to California during the gold rush. The United States had several [...]

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Chevron Increasing Capacity At Las Minas Facility In Panama

Posted in panama canal, panama economy, tagged , , , on May 15, 2024 | Leave a Comment »

Chevron is planning on doubling the capacity of its Las Minas facility in Panama to nearly 4 million barrels.  This increase in capacity is to meet the rising demand for fuel in Central America, and for ships passing through the Panama Canal.  The Las Minas facility is located near Colon, Panama, and provides fuel, derivatives, [...]

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