City Panama Financial News

11.02 / 11:19

COST Booking Waters Trade country travelers strain Mint Explainer: The unprecedented crisis in the Panama Canal hurting world trade

Mint delves into the underlying causes of the unprecedented crisis in the Panama Canal, highlighting its significance as a crucial trade choke point in global commerce. Additionally, it examines how these challenges exacerbate the already strained global shipping industry. The Panama Canal is currently experiencing a severe drought attributed to the El Niño phenomenon, characterized by the warming of Pacific Ocean waters occurring every two to seven years.

27.01 / 04:15

COST UPS Waters Food Trade Experts War UN: Global trade is being disrupted by Red Sea attacks, war in Ukraine

The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal

18.01 / 18:09

COST UPS Waters Trade country Traffic The drop in Panama Canal traffic due to a severe drought could cost up to $700 million

A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world’s most important trade routes

13.01 / 10:25

Citi BLOCK Waters President Experts Courts Investigations copper Panamanian commission visits copper mine shut down after court invalidated concession

Panama’s government has inspected a huge copper mine shut down after the country’s Supreme Court ruled in November that the government’s concession with a Canadian mining company was unconstitutional

02.01 / 12:39

Provident Manufacturing CEO Strategy Nov pandemic country 2024 New Disruptions, Geopolitics Hang Over 2024 Supply Chains

Companies that assembled new supply chain strategies in the wake of the Covid-19 pandemic are having to put those plans into practice far faster than they may have thought possible. Global supply chains are entering 2024 roiled by disruptions at two of the world’s crucial trade corridors—the Panama Canal and the Suez Canal—even as geopolitical tensions appear set to take a more prominent role in sourcing and distribution.

25.12 / 05:54

Digital Waters economy Southern Bill show travelers Twin crises send cargo ships back to 18th century trade routes

The sources of their woes are very different, but similarly acute. Houthi militants, in a show of support of Hamas in its war with Israel, are attacking merchant ships as they sail past Yemen en route to — or from — Egypt’s Suez Canal.

20.12 / 08:34

Target BLOCK Booking Waters pandemic travelers That’s Two for Two: The World’s Other Big Canal Is in Trouble

Global trade is under threat again. This time from missile attacks linked to the Israel-Hamas war targeting commercial ships passing through the Red Sea, near the Suez Canal. That may force many vessels to take the longer but safer route around Africa and is boosting oil prices.

18.12 / 04:37

Provident Waters Continental Southern strain Traffic Panama Canal to allow more ship traffic in January as rains ease drought

Panama Canal, which has been strained by drought for months, will increase the number of ships it accepts each day starting in January, thanks to better-than-expected November rains. As many as 24 vessels will be permitted to pass through the system daily, up from 22 currently, the canal authority said in a statement Friday. A powerful El Nino has reduced rainfall in the region, sapping the canal’s water levels.

11.12 / 08:13

Target Action Strategy Experts country reports Some nations want to remove more pollution than they produce. That will take giving nature a boost

As countries at the COP28 climate talks are wrangling over deadlines for lowering their carbon dioxide emissions, a Danish-led group of countries has decided to set the ultimate goal: to remove more CO2 from the atmosphere than they emit

02.12 / 02:45

Provident Reuters Waters Aware country Exclusive-U.S., allies pressure Liberia, Marshall Islands, Panama over Russia oil sanctions

By Timothy Gardner

01.12 / 15:15

Provident CEO President country International First Quantum initiates international arbitration on Cobre Panama mine

(Reuters) -First Quantum (NASDAQ:QMCO) Minerals has suspended its current-year production outlook for the Cobre mine in Panama and has initiated international arbitration over a contested contract with the country's government, the miner said on Friday.

29.11 / 02:49

Citi Waves BLOCK Waters Highways President reports copper Panama's Supreme Court declares 20-year contract for Canadian copper mine unconstitutional

Panama's Supreme Court has unanimously declared a 20-year concession for a Canadian copper mine that had sparked weeks of protests as unconstitutional

28.11 / 12:48

Citi Bill President Top Panama court rules First Quantum mining contract unconstitutional

PANAMA CITY (Reuters) -Canadian miner First Quantum (NASDAQ:QMCO)'s contract to operate a lucrative copper mine in Panama is unconstitutional, Panama's Supreme Court declared on Tuesday following weeks of protests against the deal.

28.11 / 04:27

Waters Extreme Panama Canal adds extra queue-jumping auctions for stuck ships

Panama Canal Authority said it will add extra slots allowing ships to pay big premiums to transit the waterway, which has become congested due to an ongoing drought. The special auctions allow vessels that have been waiting for a long time to pay a one-off fee — at times recently reaching several million dollars — in order to transit the canal. Only vessels that have been waiting for 10 days or more will be eligible to participate, according to an advisory.

23.11 / 23:11

Reuters awards Nov prevention NOT First Quantum's Panama mine not operating at commercial production levels

By Valentine Hilaire and Divya Rajagopal

23.11 / 16:14

Provident BAY Hudson President show Department prevention Live news: Hudson's Bay owner sells $340 million in real estate

First Quantum Ltd.’s copper mine in Panama is winding down operations as a blockade of small boats at a port restricts key supplies such as coal for energy, a union leader said.

23.11 / 04:27

Provident Waters country cover Shippers spend $235 million in bid to bypass Panama Canal congestion

Shipping companies have paid a total of $235 million so far this year to jump ahead of congestion at the Panama Canal as drought has dramatically limited how many ships can enter the waterway, according to data from Waypoint Port Services Ltd. That amount is 20% higher than what companies paid during all of 2022 for expedited passage.

14.11 / 15:58

Citi Citizens Instagram show social Latin reports Anti-mining protesters in Panama say road blockades will be suspended for 12 hours on Monday

Indigenous anti-mining protesters that have paralyzed Panama’s key roadways for weeks say they will temporarily suspend blockades for 12 hours Monday as a show of good faith to citizens affected by the demonstrations

13.11 / 19:21

BLOCK Reuters Canada's First Quantum cuts ore processing at Panama mine as protests block port

(Corrects paragraph 6 to say First Quantum (NASDAQ:QMCO)'s Cobre Panama mine contributes 5% to Panama's GDP)

09.11 / 09:45

BLOCK Man Action Highways shootings social consequences Fatal confrontation: Old man shoots 2 climate protesters blocking highway in Panama; video goes viral

Panamanian highway, Kenneth Darlington, a 77-year-old lawyer and professor with dual citizenship in the US and Panama, has been arrested for shooting two environmental protesters blocking the road. The video of the encounter has since gone viral in social media. Darlington, leading a seemingly comfortable life, decided to take drastic action due to his frustration with persistent road blockades by protesters. His discontent reached a point where he was willing to trade his comfort for the consequences of his actions, even if it meant spending his remaining years in prison.

04.11 / 02:11

Citi Waters Bill President Experts country Panama's congress backtracks to preserve controversial Canadian mining contract

A bill banning all new mining activities in Panama will go to a third and final vote after another extraordinary session of debate

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