Panama News
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AFGHANISTAN, 2016/01/02
World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.
IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.
Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
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PANAMA, 2015/12/28
While not immune to the impact of low international metal prices, which have resulted in slowdowns and postponements of mining projects around the world, the giant Cobre Panama development is building renewed momentum.
Although mining accounted for just 1.8% of GDP last year, the Panama City-based National Competitiveness Centre expects the contribution of minerals to GDP to additional than double in the coming years, driven in part by the Cobre open-pit copper mining project.
Copper key to the industry
First Quantum Minerals, the Canadian company with an 80% equity stake in the venture, said that next reviewing its development plan and rationalising project costs, it was presently able to move ahead with the initiative. Initial Quantum acquired the Cobre Panama project in 2013, but delayed initial production due to higher-than-expected development costs and revised output forecasts.
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PANAMA, 2015/11/09
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PANAMA, 2015/07/18
A drive to combat money laundering in Panama took a key step forward in June, with the approval of legislation that the country hopes will accelerate its removal from the Financial Action Task Force (FATF) “grey inventory”.
The FATF is an influential, inter-governmental body tasked with tackling threats to the integrity of the international economy. Panama is one of 11 listed nations that have been judged by the task force to fall short of full “anti-money laundering and combating the financing of terrorism” (AML/CFT) compliance. The FATF as well holds a separate “black inventory” of jurisdictions deemed as “high-risk and non-cooperative”.
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AFGHANISTAN, 2015/01/20
Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday.
In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
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AFGHANISTAN, 2015/01/20
The richest 1 % are likely to control additional than half of the globe’s total wealth by next year, the charity Oxfam reported in a study released on Monday. The warning about deepening world inequality comes just as the world’s business elite prepare to meet this week at the annual World Economic Forum in Davos, Switzerland.
The 80 wealthiest people in the world all own $1.9 trillion, the statement found, nearly the same all shared by the 3.5 billion people who occupy the bottom half of the world’s gain scale. (Last year, it took 85 billionaires to equal that figure.) And the richest 1 % of the people, who number in the millions, control nearly half of the world’s total wealth, a share that is as well increasing.
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PANAMA, 2014/12/18
The documents are particularly strong in support of Argentina as it stands up to “a small group of holders of non-restructured sovereign deficit bonds and express the bloc's most absolute rejection of these holdout funds, whose deeds hinder the succcess of final agreements between debstors and creditors and jeopardises the financial stability of nations.”
With reference to the Malvinas/Falkland Islands dispute between Argentina and the United Kingdom, the heads of national of full and associate members of Mercosur issued a communiqué reiterating their permanent support to the legitimate interests of the Republic of Argentina in the sovereignty dispute relative to the Malvinas (Falkland) Islands and recalled Resolution 31/49 by the General Assembly of the United Nations which urges both Argentina and the United Kingdom to refrain from taking decisions which entailed the introduction of unilateral modifications to the situation of the islands for as long as said islands are going through the proceedings recommended by the General Assembly.
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PANAMA, 2013/08/27
HMS Argyll made the spectacular journey through the canal to continue her deployment and will presently take part in further counter-narcotics work and regional engagement visits before returning to her Devonport home in September.
South Atlantic patrol HMS Argyll is coming to the end of her seven month deployment and next month is expected back in Davenport. Last week the Type 23 frigate crossed the 80 kilometre Panama Caal sailing two seas in one day, next finishing an intense period of counter-narcotics operation in the Eastern Pacific.
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MEXICO, 2013/04/28
Presidents Ollanta Humala of Peru, Ricardo Martinelli of Panama and Enrique Peña Nieto of Mexico joined Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, in a discussion on their approaches to ensure sustained economic increase and regional evolution. Three Latin American presidents called for inclusive increase in the region through comprehensive reforms at the opening of the 2013 World Economic Forum on Latin America which is taking place in Lima, Peru.
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PANAMA, 2013/04/25
The impact of the Panama Canal expansion on the world coal trade will come into sharper focus next summer at the same time as the canal's governing authority is likely to release rates for the new lane, said a shipping expert Wednesday next a Senate Committee on Commerce, Science and Transportation hearing on the expansion.
