Panama Headlines – Quick Reads April 13 and 14
There have been Donald Trump Jr. siting’s in David where his plane landed at the airport, and Boquete with speculation suggesting a real estate deal as there are many million dollar homes available. Panama’s President Mulino has also been looking into Boquete real estate. Currently in Boquete the Orchid Festival is underway until April 20th.
We are all living in Turbulent Times: BlackRock and the US Banks warn us of the Economic Outlook. We have all heard about a possible recession.
February saw an improvement in revenue collection, but not enough to avoid a deficit. In February, Panama recorded a deficit of $90.3 million due to a drop in non-tax revenue, despite an increase in tax collection.
WhatsApp messaging service reports outages worldwide.
Panama improves its Foreign Direct Investment, but loses leadership. Panama, which for years led the attraction of foreign direct investment in Central America, has dropped to fourth place in 2024. The Dominican Republic, Costa Rica, and Nicaragua now top the list, reflecting a shift in investor preferences in the region. The deterioration of public finances, inclusion on discriminatory lists, and negative rating agency outlooks have contributed to the low levels of foreign direct investment.
Gianmatteo Rousseau, the proud Panamanian who is fighting to reach Formula 1. Challenging the straights and curves of the most demanding tracks on the Old Continent, young Panamanian driver Gianmatteo Rousseau is making his way in motorsport in the rigorous FIA Karting European Championship.
Panama is making a strong entrance into international motorsports. Panamanian motorsports took an important step forward by being chosen as the first foreign venue to host a NASCAR Mexico Series race.
Proposed amnesty law for Martinelli and Varela could be approved with 19 votes. With just 19 votes, the National Assembly could approve the controversial bill that would grant amnesty to former presidents Ricardo Martinelli and Juan Carlos Varela, both implicated in corruption.
The official end of the shrimp ban marks the start of the fishing season in Panama.
Panamanian-made nanometric semiconductor: breakthrough by a UTP engineer. Engineer Kelvin Kung, a UTP graduate, has developed Panama’s first nanometric semiconductor, which has been filed for patent.
The Prosecutor’s Office appeals the ruling that acquitted former minister Federico Suárez and others in the Arraiján-La Chorrera highway case. The Anti-Corruption Prosecutor’s Office filed an appeal against the acquittal in favor of the eight defendants, including former Public Works Minister Federico Suárez, for embezzlement related to the design and construction of the Arraiján–La Chorrera highway.
The Prosecutor’s Office appeals the ruling that acquitted former minister Federico Suárez and others in the Arraiján-La Chorrera highway case.
