Archive for April 2nd, 2010

In September of last year, French bank BNP Paribas pledged to pull out of countries on the Organization for Economic Cooperation and Development’s “grey list” of tax havens. BNP will cede its wealth management businesses in the Cayman Islands, the Bahamas and Panama to Canadian Scotiabank. The Bahamas and the Cayman Islands have since...
Read more »

Yesterday approximately 400,000 people waited for transportation to the interior of the country at the Albrook bus terminal. Hector Rodriguez, a management consultant for the terminal, said that he counted about 1,200 in the fleet of buses for the interior and western Panama routes.  Patience grew thin to the point that passengers manifested their...
Read more »

The Toronto-based Inmet Mining Corporation announced this week that Singapore’s Temasek Holdings will provide $500 million to finance its copper extraction projects in Panama. Temasek’s Ellington Investments unit will buy some 9.2 million subscription receipts for about $54 each. Proceeds will be held in escrow by CIBC Mellon Trust Company pending exchange of the receipts for...
Read more »