(Prensa.com) Panama ranked first in container port traffic for Latin America and the Caribbean during 2010, moving 5.5 containers among its ports. That was the highest total among 20 major container ports in the region. The 2010 ranking, prepared by the Economic Commission for Latin America, indicated that container activity in the region increased 21 percent in 2010, a … [Read more...]
Panama jobs boom creating supply problem
(Newsroom Panama) With major construction projects under way, a mushrooming of new hotels, and the movement of major multinationals into the country, Panama is faced with a labor problem. Some 25,000 jobs will become available during the expansion years, but there is a desperate shortage of workers able to speak English or with sufficient computer skills. It is not a … [Read more...]
Panama reports 0.9 percent inflation in March
(Prensa.com) Inflation in Panama accelerated 0.9 percent in March as compared to February. This, mainly driven by the rising prices of transportation due to the hike in fuel prices. The National Institute of Statistics reported on Wednesday that the annualized Consumer Price Index (CPI) was 5.5 percent up until March. The agency further informed that the biggest … [Read more...]
Money Down on Financial Tower
(Panama Digest) The National Assembly approved the transfer of a $5 million down payment to architecture firm Mallol & Mallol for the design phase of Panama’s Financial Tower project. The 70-floor building will be 1,403.28 feet tall with two towers connected at the seventh floor by a pedestrian walkway. It is intended to “recall the union of cultures, oceans, races, … [Read more...]
Panama to lead growth in Central America
(prensa.com) Economies in Central America will grow at an average of 4 percent in 2011, driven by external demand for local goods, remittances from emigrants and, specifically, the projected strong growth of Panama's economy. That projection was released yesterday by the International Monetary Fund (IMF), which said that Panama's economy will grow at 7.4 percent this … [Read more...]