Noticias Financieros

CH2M HILL Team Selected as Program Manager for Mega Expansion of Panama Canal

The Panama Canal Authority (ACP) has awarded CH2M HILL, a global full-service engineering, construction and operations firm the Program Management contract for the $5.25 billion Panama Canal Expansion program. Subcontractors on the team include DHV Group, Grupo TYPSA, CSA Group, and Earth Consultants International.

Electron Solar Energy Announces Distributorship with La Casa De La Baterias to Sell Solar Panels Direct from Panama

Electron Solar Energy (OTC:ESRG), an international distributor of alternative energy systems, announced today that it entered into a distribution agreement with La Casa de las Baterias, based in El Dorado, Panama, to sell Electron's Solar Energy Systems directly to customers throughout Panama. With 9 locations throughout Panama, La Casa de las Baterias is a supplier to both retail and wholesale customers for over 30 years. La Casa de las Baterias is also an existing customer of Electron's Sealed Rechargeable batteries.

Asep imposes US$500,000 in fines on Movistar:
Panama's public services regulator Asep has imposed two fines of US$350,000 and US$150,000 on local mobile operator Movistar Panamá, of Spain's Telefiónica, for two service faults dating back to last year, Asep said in a statement.

Wells Fargo HSBC Trade Bank Funds $28 Million in Eco-Friendly Projects in Panama

Wells Fargo HSBC Trade Bank has loaned a total of $28 million to two U.S. companies that are producing environmental benefits in Panama and India.

Wells Fargo HSBC Trade Bank provided a $25 million working capital credit facility to The Robbins Company of Solon, Ohio, a manufacturer of underground construction machinery that will help build an irrigation tunnel beneath a wildlife refuge in India. The underground tunnel will be built in lieu of a pipeline through the Rajiv Gandhi Wildlife Sanctuary and will provide water to more than 500 villages in a drought-stricken region. The loan was backed by Ex-Im Bank, which awarded Robbins its 2007 Small Business Environmental Exporter of the Year award.

Panama unveils $40 billion oil refinery plan

A consortium of private firms led by Spain's Tecnicas Reunidas presented a 20-year plan worth $40 billion on Thursday to transform Panama into a refinery and petrochemical hub for Latin America. The consortium, called Energias, is comprised of private investors ranging from the United States to Asia and plans to build refineries, petrochemical plants and a 56-mile (90-km) long oil pipeline that would follow the route of Panama's inter-oceanic canal.

Hiking the Cost of Bribery

The Justice Department crackdown on corrupt practices overseas ensnares both U.S. and foreign companies. The flight from Panama had just landed at Miami International Airport last December when Christian Sapsizian, a French citizen, got an abrupt surprise. Instead of catching his next flight home to Paris, the 60-year-old former Alcatel executive was arrested.

EIB offers Panama 500-mln-euro loan for canal expansion

The European Investment Bank (EIB) will offer Panama 500 million euros (650 million U.S. dollars) to finance the expansion of the Panama Canal, an European Commission official announced on Friday. The proposal was made during a technical evaluation of diverse cooperation projects between the European Union (EU) and Panama, said Tomas Abadia, EU business manager for Panama and Costa Rica.

Watchdog autions 2 mobile brands

Panama's public services regulator Asep plans to launch an auction for two mobile concession licenses in October and award them in 2008, local and international press quoted Asep official Víctor Urrutia as saying. Bids for the 30-year concessions are expected to be above US$30mn.