(Newsroom Panama) Panama's fiscal deficit has risen to an equivalent of 1.9% of Gross Domestic Product(GDP) in 2010 due to spending on infrastructure. The news was released Thursday, January 17, by Finance Minister, Alberto Vallarino. The deficit in 2009 was 0.9%. The expenses for the construction of Panama’s metro an railway system and for roads increased the deficit, … [Read more...]

(ATWonline) Copa Holdings, parent of Panama's Copa Airlines and Copa Airlines Colombia (formerly Aero Republica), posted 2010 net income of $212.1 million, down 11.8% from a $240 million profit in 2009. But it noted that 2009 net results benefited from a $58 million non-cash gain owing to fuel hedging, and net income excluding special items rose from $201.7 million in 2009 … [Read more...]

(prensa.com) Panama's government is investing more than $200 million in the construction, expansion, and rehabilitation of several airports in the country, with the aim of increasing tourism and contributing to business development, official sources said. The Investment Management Program of the Ministry of Economy and Finance (MEF) said in a statement that among the … [Read more...]

(Reuters) Copa Holdings, the parent company of Panamanian carrier Copa Airlines, reported a 32 percent increase in fourth-quarter profit on Thursday, as the company flew more passengers and expanded capacity. New York-listed Copa (CPA.N), one of Latin America's top airlines, reported net income of $92.8 million, or $2.11 per share, in the quarter, up from $70.4 million, or … [Read more...]

(prensa.com) The Cabinet Council has approved the signing of a contract between the Ministry of Economy and the company Millennium Plaza to operate a casino at the Four Points Sheraton Hotel located in Colón.Plaza Millennium made an investment of $30 million in the hotel and $3.8 million in the casino. The facility will be the 16th full casino, namely one able to offer table … [Read more...]