City Panama Financial News

A court ruling could permit the construction of a new reservoir to feed the water-starved Panama Canal, but building it might take six years

A judge has acquitted 28 people accused of money laundering in an international case known as the Panama Papers

USA soccer team or USMNT are all set to play must-win game against Uruguay in Copa America 2024 Group C match. Uruguay are in the pole position to qualify for the knock out after winning two out of two matches and garnering six points. USA has three points from two games after winning one and losing the other.

Copa America 2024 schedule, matches, fixtures, teams details are out. The continental soccer tournament, featuring FIFA World Cup 2022 winners Argentina and Brazil, will be played in the US between June 20 and July 14.

The Gunas of Gardi Sugdub are the first of 63 communities along Panama’s Caribbean and Pacific coasts that government officials and scientists expect to be forced to relocate by rising sea levels in the coming decades

tiny island off Panama’s Caribbean coast, about 300 families are packing their belongings in preparation for a dramatic change. Generations of Gunas who have grown up on Gardi Sugdub in a life dedicated to the sea and tourism will trade that next week for the mainland’s solid ground, as per an AP report.

Caribbean coast, about 300 families are packing their belongings in preparation for a dramatic change. Generations of Gunas who have grown up on Gardi Sugdub in a life dedicated to the sea and tourism will trade that next week for the mainland’s solid ground.They go voluntarily — sort of.The Gunas of Gardi Sugdub are the first of 63 communities along Panama’s Caribbean and Pacific coasts that government officials and scientists expect to be forced to relocate by rising sea levels in the coming decades.On a recent day, the island’s Indigenous residents rowed or sputtered off with outboard motors to fish.

Yemen’s Houthi rebels hit an oil tanker in the Red Sea with a ballistic missile, damaging the Panama-flagged, Greek-owned vessel in their latest assault over the Israel-Hamas war

Panama is on the verge of a dramatic change to its immigration policy that could reverberate from the dense Darien jungle to the US border. President-elect Jose Raul Mulino says he will shut down a migration route used by more than 500,000 people last year. Until now, Panama has helped speedily bus the migrants across its territory so they can continue their journey north. Whether Mulino is able to reduce migration through a sparsely populated region with little government presence remains to be seen, experts say.

Yemen’s Houthi rebels have claimed responsibility for two missile attacks in the Gulf of Aden on two Panama-flagged container ships that caused no damage

Panamanian lawyer Ramon Fonseca, co-founder of the now-defunct law firm at the center of the "Panama Papers" scandal, died while awaiting sentencing in his money-laundering trial, his lawyer said Thursday. Fonseca died during the night while hospitalized in Panama City, a member of his legal team said, adding that health issues were «why he did not attend the trial» that opened on April 8.

A study says the climate phenomenon known as El Nino and not climate change was a key driver in low rainfall that disrupted shipping at the Panama Canal last year

Indian Navy has successfully rescued the crew of a Panama-flagged crude oil tanker, MV Andromeda Star, after it came under a missile attack by Houthi militants. The vessel was attacked in the Red Sea on April 26, prompting a rapid response from the Indian Navy's destroyer, INS Kochi. The attack resulted in minor damage to the vessel, which is operated by a company based in Seychelles. The distressed oil tanker was intercepted by the Indian Navy ship and an aerial recce was carried out by the Indian Navy helicopter to assess the situation. «A mission deployed Indian Naval destroyer INS Kochi responded to a maritime security incident involving the attack on Panama-flagged crude oil tanker MV Andromeda Star on April 26,» the Indian Navy said.

The public portion of a Panamanian trial of more than two-dozen associates accused of helping some of the world’s richest people hide their wealth has come to an unexpectedly speedy conclusion

Eight years after 11 million leaked secret financial documents revealed how some of the world’s richest people hide their wealth, more than two dozen defendants are on trial in Panama for their alleged roles

Panama Papers" money laundering started Monday in a Panamanian criminal court. Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak.

Panama Papers Scandal: Twenty-seven people are set to go on trial on Monday for money laundering in connection with the "Panama Papers" tax evasion scandal, which revealed how many of the world's wealthy stashed assets in offshore companies. The 2016 revelations rocked governments, exposed high-profile personalities, triggered scores of investigations around the world and dealt a blow to Panama's reputation as an offshore financial hub. The defendants due to go on trial in a Panamanian criminal court include Jurgen Mossack and Ramon Fonseca Mora, the founders of the now-defunct law firm at the centre of the scandal.

money laundering in connection with the «Panama Papers» tax evasion scandal, which revealed how many of the world's wealthy stashed assets in offshore companies. The 2016 revelations rocked governments, exposed high-profile personalities, triggered scores of investigations around the world and dealt a blow to Panama's reputation as an offshore financial hub.

Deribit, the world’s largest crypto options exchange, said Tuesday that its Dubai-based subsidiary was granted a conditional virtual asset service provider license by the Virtual Asset Regulatory Authority (VARA).

Panama Canal has avoided the worst of a shipping crunch that threatened to upend the global economy — but at a cost to marine life and the Latin American country’s supplies of drinking water. After imposing strict limits on vessel traffic last year as drought left water levels languishing, the Panama Canal Authority is increasing the number of ships that can cross. Thanks to conservation measures, water levels fell just over a foot for the year through March 12, compared with three feet during the same period of 2023. Those measures, though, come with side effects. The canal recycles water from locks that vessels pass through, instead of simply flushing it into the ocean. This reused water gets saltier, and some of it infiltrates Lake Gatún, an artificial lake that forms part of the channel and is also Panama’s largest source of potable supply.

problems are geopolitical, those in Panama are climatic. The lakes that feed the canal are drying up, thanks to annual droughts that may be worsening as the climate warms. The series of locks connecting the Atlantic Ocean to the Pacific via Gatun Lake are close to the point of being too shallow to let the largest container ships through.