The legislature approved over $2 billion for the Panama Canal Authority October 2010 to September 2011 budget. As far as returns, budget-makers expect over $1.6 billion in tolls from 14,286 ships, an average of 34.9 transits a day if the math is correct. Of that $1.6 billion, the national treasury would bank $839 million...
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The sale of Thunderbird Resorts Inc.’s 63.63% stakes in six Panama casinos to Spanish gaming company CODERE is now complete. The shares sold for about $38 million, a recorded gain on the sale of stock of approximately $14.5 million and an additional gain of $4.2 million ratably over the next two years, according to...
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Taboga Island residents are thinking about taking their objection to the installation of fuel storage tanks on neighboring Melones and Taboguilla islands to the Supreme Court. Municipal Council Resolution 3 of June 28 2007 establishes that Taboganos will reject any permission granted for the establishment of fuel storage infrastructure on district’s islands. They fear...
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