Panama’s second most competitive country in Latin America

In Latin America, the differences in competitiveness between countries are considerable Chile is the most competitive country in Latin America, according to the annual ranking of competitiveness report presented by the World Economic Forum (WEF) today and that gives Venezuela the worst rating in the region. While the first country is in the position 33, Read more about Panama’s second most competitive country in Latin America[…]

Assets and deposits of banks increased

The International Banking Center of Panama closed July with assets of $ 118 000 602 million, representing an increase of 2.7% compared to the previous year. Local loan portfolio increased 10%. The Superintendent of Banks of Panama, Ricardo Fernandez said that “the lending business maintained a positive pace and more importantly it continues robust economic Read more about Assets and deposits of banks increased[…]

Varela invites US companies to invest in Panama

President of the Republic, Juan Carlos Varela, Thursday invited major US companies to invest in the new business climate in Panama, where transparency and respect for law prevails. During the meeting, in which representatives of Chevron, FedEx Express, Estee Lauder, Interenergy Holding, The Coca Cola Company, Walmart, Vice on HBO, Medtronic, among others, the Head Read more about Varela invites US companies to invest in Panama[…]

National Assembly approves implementation of FATCA last debate

  The National Assembly approved on third and final debate the bill 363 by which the Intergovernmental Agreement (IGA) Panama-US is ratified. to run the American Law foreign account tax compliance (FATCA). The ratification of the agreement was essential for Panama in September 2017 made its first report under the FATCA, as noted by the Read more about National Assembly approves implementation of FATCA last debate[…]

Regulate data exchange

Financial institutions are obliged to provide information about foreign to the Directorate General of Revenue (DGI) customers and will be exposed to penalties if they do not. A bill submitted to the National Assembly this week by Ivan Zarak, Deputy Economy Minister creates the legal framework to meet the exchange of financial information, a commitment Read more about Regulate data exchange[…]

Bancolombia, among the most sustainable banks in the world

For the fifth consecutive year, with a score of 92 out of 100, five more than in 2015, Bancolombia financial institution that provides support and strength to Banistmo, was ratified in the list of the companies that comprise the Index Global Sustainability Dow Jones , a global indicator that measures the sustainable performance of companies Read more about Bancolombia, among the most sustainable banks in the world[…]

WTO appoints arbitrator in case Panama – Colombia

The World Trade Organization (WTO) Giorgio Sacerdoti appointed as arbitrator define the deadline for Colombia complies with the ruling in favor of Panama by the issue of tariffs Footwear and textiles. Sacerditi, and in 2009 he served as a panelist by similar circumstances but in a previous case and on that occasion gave a period Read more about WTO appoints arbitrator in case Panama – Colombia[…]

World Bank approves loan him $ 300 million to Panama

The loan has a maturity of 20.5 years and a grace period of two years from the time it is realized The World Bank Board of Executive Directors approved on Thursday a loan of $ 300 million to support Panama’s efforts to strengthen international tax transparency, financial integrity and fiscal management. Moreover, some of these Read more about World Bank approves loan him $ 300 million to Panama[…]

US oil price: up helped by US dollar weakness

Oil prices Texas Intermediate (WTI) gained 67 cents in New York to $ 45.50 a barrel, boosted by a weakening of the dollar against other international currencies. Analysts said the dollar’s depreciation makes it easier to use need to stock up on gold on the black market, whose transactions are always performed in the US Read more about US oil price: up helped by US dollar weakness[…]

WTO advocates a more inclusive global trade

The Director General of the WTO, Roberto Azevedo, called for a more inclusive global trade, through the use of digital technology to help more exchanges between small and medium enterprises (SMEs). In a meeting held in Hangzhou, China, with President of the Working Group G20 Development of SMEs, Jack Ma, the head of the World Read more about WTO advocates a more inclusive global trade[…]