Panama Financial News

Millions of jobs that new immigrants have been filling in the United States appear to solve a riddle that has confounded economists for at least a year: How has the U.S. economy managed to prosper, adding hundreds of thousands of jobs, month after mont...

Red Sea due to Houthi attacks on cargo ships. In a letter, which was also addressed to state-run export finance institution Exim Bank, the finance ministry last month told the RBI and Insurance Regulatory and Development Authority of India (IRDAI) to monitor and look into the concerns raised by exporters with the commerce ministry about these disruptions potentially inflating India's export costs, officials said. «After our deliberations with the commerce ministry and other stakeholders, including exporters, it was decided that sectoral regulators will keep a watch and take necessary action wherever possible,» a government official said. Banks have also been briefed separately to factor in such hikes while sanctioning fresh credit limits to exporters and other businesses, the official said.

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).

As much as 2.5 million tons of coal, hundreds of cars made by Ford Motor Co., and General Motors Co., and lumber and gypsum are threatened with disruption after the container ship Dali slammed into and brought down Baltimore’s Francis Scott Key Bridge in the early hours of Tuesday.

Lord Buddha, along with those of his disciples Arahant Sariputta and Arahant Maha Moggallana, after 26 -days returned to the National Museum in Delhi on March 19 and was open to brief exposition to the New Delhi based diplomatic corps on March 20. Minister of State for External Affairs Meenakshi Lekhi participated in the ceremony of prayers and chanting in the presence of representatives of the diplomatic corps from 15 countries. Those present on the occasion were Kshenuka Dhireni Senewiratne, High Commissioner of Sri Lanka; Pattarat Hongtong Ambassador, Thailand; Yasiel Alines Burillo Rivera, Ambassador of Panama; Vahagn Afyan, Ambassador of Armenia; Kenneth da Nobrega, Ambassador of Brazil; Guillermo Rubio Funes, Ambassador of El Salvador; Moe Kyaw Aung, Ambassador of Myanmar; Colin Kao, Deputy Director of the Division, Taipei Economic and Cultural Centre in India and senior diplomats from Indonesia, Bhutan, Myanmar, Romania, Peru and Serbia.

Gate Group Adds Italian VASP Registration to List of Global Expansion Achievements

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.

Mar. 12th, Panama – On March 11, 2024, Gate.io, a global leader in digital asset trading, released its latest proof of reserve report. The report reveals that Gate.io’s reserve ratio in March reached 115.49%, with the total reserves surpassing $6 billion, a 40.33% increase from January. Additionally, the extra reserves experienced steady growth, reaching a record high of $820 million, an increase of 40.50%.

Tornado Watch has been issued for a significant portion of the Florida Panhandle, southeastern Alabama, and parts of southern Georgia on Saturday, coinciding with the passage of a cold front through the area. This watch encompasses areas such as Panama City and Tallahassee in Florida, as well as Valdosta and Savannah in Georgia. The severe storms have the potential to unleash gusts of up to 70 mph and produce large hail, in addition to posing a tornado threat, as per a report in Fox Weather. In South Carolina, heavy downpours coinciding with high tides led to Flash Flood Warnings being issued in Charleston, where storms dumped close to 2 inches of rainfall within a span of three hours.

BOGOTÁ, Colombia—All this week, the news couldn’t have been brighter for Biden administration officials trying to slow migration through the jungle that connects South America with Central America, an essential corridor for would-be immigrants heading to the U.S. A Colombian crackdown on boats that are indispensable in getting migrants to the Darién Gap had left several hundred migrants stranded and far from its trails, local officials and businesses who cater to migrants said.

CMA CGM expects disruptions to commercial shipping to last months, Chairman and CEO Rodolphe Saade said. Shipping firms are diverting vessels on to the longer, more costly route around southern Africa after Houthi militants in Yemen began drone and missile attacks on ships in the Red Sea and Gulf of Aden last November. «This will probably last for some months,» Saade said.

Authorities say an offshore oil spill that prompted Trinidad and Tobago to declare a national emergency earlier this month has reached the shores of the Dutch Caribbean island of Bonaire hundreds of miles away

NEW DELHI : New Delhi: The crisis in the Red Sea, one of the world’s busiest trade corridors, hit global merchandise trade volumes in 2023, according to Ngozi Okonjo-Iweala, director-general, World Trade Organization (WTO). These disruptions, coupled with a global economic slowdown, likely led to a less than 0.8% increase in global merchandise trade volumes in 2023, falling short of the WTO's April projection, Okonjo-Iweala said while speaking at the business forum on the third day of the 13th Ministerial Conference (MC13) in Abu Dhabi.

The U.S. and United Kingdom sanctioned a deputy commander of Iran’s Islamic Revolutionary Guard Corps and a Houthi militant member, Tuesday

The government of Trinidad and Tobago says it is partnering with international experts to remove the wreckage of a barge that capsized in nearby waters and caused a major oil spill

The US State Department announced on Friday that a Panamanian-flagged tanker transporting crude oil destined for India, was targeted by a missile in the Red Sea. According to the State Department, the missile, originating from Yemen, struck the M/T Pollux on its port side. Prior to this, both the United Kingdom Maritime Trade Operations (UKMTO) agency and the British maritime security firm Ambrey had reported that a Panama-flagged tanker was allegedly hit approximately 72 nautical miles (133 km) northwest of Yemen’s port of Mokha.