The European Union does accept the new regulations on foreign investment passed by Panama’s National Assembly on Friday. Law 41 sets limits on foreign investment by establishing that 75 percent of the shares of companies engaged in the maritime services of fuel distribution, as well as the transport of supplies and personnel must be Panamanian.…
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Panamanian Arrested in U.S. for Child Pornography
A Panamanian was arrested in St. Louis, Missouri when authorities found him in possession of child pornography. Jean Paul Jimenez-Kuchler, age 29 and a Panamanian citizen, was charged this week with downloading and possessing visual child pornography, as well as possession of a counterfeit alien registration card. Jimenez-Kuchler could be sentenced to a 5- to 20-year…
Nicaragua Approves Canal Project
Nicaragua’s congress passed a bill granting a Chinese company the right to cut a channel across the Central American country. Over the next few months, HK Nicaragua Canal Development Investment Co., led by Chinese tycoon Wang Jing, will perform a feasibility study to determine whether the multi-billion dollar project is economically viable. The vote in…
Parking Meter Installation Begins
Installation of the 1,100 new parking meters in Panama City begins today, Thursday, the Mayor’s Office announced on Wednesday. The first 50 meters will be placed on Street 25 in Calidonia, near the National Bank of Panama. This initiative follows the recommendations of a study conducted by the Department of Urban Planning and the Transit…
President Adds to Media Portfolio
President Ricardo Martinelli bought six radio frequencies in Panama from Spanish Grupo Prisa, owner of Radio Panama. According to the president, he is just following a wise business model and taking advantage of opportunity. Others, including Roberto Eisenmann, founder of La Prensa, and lawyer Miguel Antonio Bernal, say that the president is following the media…
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