pa.di.

Panama is a Peaceful Country

Panama was the most improved country on this year’s Global Peace Index, jumping up 24 spots to number 49 of 163 countries. The improvement was mostly attributed to a decreased likelihood of violent demonstrations and political instability and the reduction in military expenditure as a percentage of GDP as well as in the volume of imports of major conventional…

More Starbucks are Coming

Starbucks Coffee Company will open its fifth and sixth stores in Panama by the end of October. The Seattle-based multinational, which has over 24,000 retail locations around the world, opened its first Panama shop on August 6 of last year in Street Mall, a new shopping center across the street from Multiplaza Mall. Since then, additional Starbucks have opened…

2017 Panama Canal Budget Approved

The National Assembly has approved $1.6 million in direct and $208.5 million in indirect contributions to the Panama Canal Authority for fiscal year 2017. According to the resolution, some $2.8 billion total in revenue and over $1 million in operating expenses are expected. Budget line items include canal operations, investments and reserves. The Canal Authority’s fiscal year…

Panama to Advise on Crazy Project in Istanbul

Turkey will look to Panama for advice on its Kanal Istanbul project. The two countries signed a collaboration agreement on June 27 to capitalize on Panama’s canal-building knowledge for the construction of the Turkish canal, according to the Hurriyet Daily News. The canal, which was announced as the “crazy project” by Prime Minister Recep Tayyip Erdoğan during…

Panama Exports Fall 12.6%

Panama exports are down, and imports and free zone activity have also declined. Between January and April, the recorded $197 million in exports is almost $30 million less than the $225.8 million during the same period in 2015, or 12.6% less. Only two domestic products showed an increase from the previous year: watermelon and unrefined sugar,…