Scotia Buys Panama Citi

scotiabank_panama

Canadian Scotiabank has acquired the retail and commercial banking operations of Citigroup in Panama. Citi, which has a presence in Panama since 1904, revealed in October that it wanted to focus on markets where it has the largest scale and growth potential and therefore was selling its consumer business in 11 markets, including those in Central America. Scotiabank,…

It’s Beer Week in Panama

beer week panama

Although it could be argued that every week is beer week in Panama, the official Beer Week 2015 kicked off on Friday with a series of educational events that showcase Panama’s deep beer culture. Highlights include the Festival Sabor in the Hilton Hotel, pairing courses, a new beer launch, the Mayofest which which will unite mayonnaise and beer, brewery…

More Pygmy Sloths in Panama’s Pacific

Pygmy sloth thumbnail

The pygmy sloth population in Panama has been underestimated, a new study shows. Found only on the tiny Escudo de Veraguas Island in Panama’s Pacific Ocean, the threatened three-toed sloth (Bradypus pygmaeus) does not only live in the mangroves on island’s edge but also in the inland forest. Bryson Voirin, a former fellow at the Smithsonian…

Fried Food Court is Coming

patacones_panama

The fried food court planned for the Cinta Costera 3 will be open no later than July 15, according to Mayor Jose Blandon. Also known as “Flavors of El Chorillo” and the “Fritodromo”, Panama’s new fried food destination will have around 11 locales operated by small entrepreneurs who have been selling street food for years in…

Authority Raising Driving Fines

Traffic_tickets_panama

The Transit and Transportation Authority will be raising fines for bad driving. The penalty for talking on a cell phone at the wheel will increase from $75 to $300, and drivers who sneak the shoulder of the road will be fined $200 instead of $50. Tickets for running a red light will double from $100 to $ 200 and speeding tickets will be $150 instead of $50.…

Panama Canal: Container Volumes Already Peaked

The heyday of booming container trade may be a thing of the past, having hit highs in 2007. So said Jorge Quijano, head of the Panama Canal Authority, in an interview with the Financial Times, attributing the drop to changing patterns in global trade and manufacturing, as well as a decrease in spending by U.S. consumers. He hopes that…