Author: spieper

The Government of Panama, through the Ministry of the Presidency, has initiated a comprehensive $3.3 million restoration of the historic La Casa Amarilla in San Felipe, Panama City. The project, awarded to the firm Civil y Logística S.A., aims to structurally and architecturally rehabilitate the deteriorated building for use in diplomatic ceremonies by June 2026. The restoration is being conducted under strict guidelines from the National Directorate of Cultural Heritage (DNPC) to preserve the site’s significant heritage value.The contract was granted following the provisions of Law 22 on Public Procurement. Work is currently in the preliminary phase, involving detailed archaeological…

PANAMA CITY, Panama – Business trust, difficult to build and easy to lose, no longer tolerates accounting ambiguities. In the current economic climate, financial compliance has evolved from a technical requirement for publicly traded companies into a critical reputational asset for private enterprises, protecting relationships with banks, partners, regulators, and employees. This shift demands a robust accounting culture that inspires confidence and prevents unnecessary risk.The pressure on private companies now mirrors that of their publicly listed counterparts. Financial teams face intense scrutiny from multiple fronts: banks meticulously review financial statement quality before granting financing, family investors and partners demand crystal-clear…

Panamanian authorities have formally announced a strategic push to attract German foreign investment into key economic sectors, including pharmaceuticals, technology, logistics, and finance. The initiative was advanced during a high-level meeting between Panama’s Minister of Commerce and Industries, Julio Moltó, and Thomas Steffen, State Secretary of Germany’s Federal Ministry for Economic Affairs and Energy, on the sidelines of the ongoing XVI UNCTAD Ministerial Conference in Geneva, Switzerland.The bilateral meeting, held this week, was centered on fostering new investment opportunities and enhancing technical and commercial cooperation between the two nations. Minister Moltó underscored Panama’s unique competitive advantages as a regional operations…

Chilibre, Panama – The National Institute of Aqueducts and Sewers (Idaan) initiated a major operational intervention on Saturday, October 25, deploying over ten technical teams to address chronic water losses and improve supply pressure in northern sectors of the capital. The operation, named “Chilibre sin fugas” (Chilibre Without Leaks), represents a significant effort by the state water utility to optimize its distribution network in key areas.The large-scale maintenance work commenced from the Milla 8 area and will extend to communities within the districts of Chilibre, Caimitillo, and Las Cumbres. The initiative involves a coordinated series of tasks, including the repair…

PANAMA CITY, Panama – Panama anticipates $470 million in annual infrastructure losses due to natural disasters, with the energy, transport, telecommunications, and education sectors identified as the most vulnerable, according to government authorities. The stark financial impact was detailed during the III International Forum on Comprehensive Disaster Risk Management (GIRD by its Spanish acronym), where Public Works Minister José Luis Andrade outlined the government’s mitigation strategies.Minister Andrade explained the institutional strategies being implemented to protect the population, sharing experiences derived from the climate emergencies recorded in November 2024. He stated that the ministry has systematically mapped critical points susceptible to…

Antón, Panama – German multinational energy company UKA will invest $200 million to develop a major new wind farm in Panama’s Coclé province, the company has exclusively confirmed. The La Colorada wind project, located in the Antón district, will have a generation capacity of 140 megawatts (MW), marking a significant private sector investment in Panama’s renewable energy infrastructure.The project will proceed based on a provisional license granted to UKA by Panama’s Public Services Authority (Asep) in 2021, which is now in the process of obtaining final approval. Project leader Héctor Miranda, the engineer spearheading the investment, detailed that the development…

COLÓN, Panama – A bus transporting 17 athletes to a sporting competition caught fire on the Pan-American Highway on Saturday morning, forcing a rapid evacuation moments before the vehicle became fully engulfed in flames. The incident occurred at kilometer 31 near the Giral community in the Buena Vista district of Colón Province.According to eyewitness accounts from other drivers, the bus, identified as a coaster-type vehicle, ignited quickly and was completely consumed by the fire. The athletes, who were wrestlers en route to a competition in Colón city, were able to exit the vehicle safely after the driver detected a burning…

PANAMA CITY, Panama – Héctor Brands, the former director of the Panamanian Sports Institute (Pandeportes) and ex-lawmaker, was denied entry into the United States on Friday, October 24, after authorities revoked his visa upon arrival. The incident occurred as Brands faces an ongoing financial investigation in Panama concerning his tenure at the public sports agency.According to sources close to the investigation who spoke with TVN-2.com, Brands departed from Tocumen International Airport without issue, as no travel ban was registered against him. He boarded a flight bound for Miami. Upon landing in the United States, however, immigration officials informed him that…

PANAMA CITY, Panama – President José Raúl Mulino has directed a rapid government intervention to import certified rice seeds from Colombia, responding to an urgent plea from national producers facing a bacterial crisis. The announcement was made during an Expanded Cabinet Council held in Santiago on Thursday, October 23, 2025, to safeguard Panama’s primary food staple.The decisive action came immediately after a request from Carlos Araúz, President of the Rice Producers Association, who highlighted the critical situation as one of “notorious urgency.” The local agricultural sector is grappling with significant damage from bacteria affecting the available seed stock, threatening the…

PANAMA CITY, PANAMA – The Anti-Corruption Prosecutor’s Office, in a joint operation with the National Police Intelligence Directorate, apprehended four individuals on October 23 for alleged crimes against public faith involving the national tax system. The early morning raids, codenamed “E-Tax 2.0,” targeted locations across Panama’s east, west, and central districts as part of an investigation into the irregular recognition of tax credits.The operation led to the arrest of two former government officials and two private citizens. They are implicated in a scheme involving the creation of fraudulent tax credit resolutions within the E-Tax 2.0 platform, according to official statements.…