Hi Panama friends!

Update on the Panama Canal Expansion

Yesterday, Panamanian President Omar Torrijos announced that the Panama Canal expansion project is on schedule. However, of the $5.2 billion total cost, the government is still considering options for financing $2.5 billion.

“The Panama Canal board is meeting with financial advisers to seek the best terms,” Torrijos said yesterday during a visit to a construction site where workers were excavating rock to widen the 93-year-old canal that links the Pacific and Atlantic oceans.

Torrijos said 283,000 Panamanians have applied to work on the expansion. However, the agency that oversees the canal estimates that only 7,000 construction jobs will be created.

I’m happy to hear that the Panama Canal expansion is on schedule. I’m sure it will greatly benefit Panama and the entire world.

http://www.panamaforum.com/panama-news/13909-canal-expansion-schedule-toronto-star.html

Below you’ll find more Panama news and the latest threads on PanamaForum.

Enjoy Panama and have fun!

TOP PANAMA THREADS:

  • Internet in Panama
    How readily can you access the Internet in Panama? Is high-speed Internet available? Wireless Internet that works all throughout Panama? Find out on this thread.
  • What’s your first language?
    This thread inquires about your first and second language. It focuses especially on Spanish and how long it takes to master it.
  • Is it worth living in Panama?
    The best advice comes from MRWOOHOO: “Swing on over, be prepared to have a good time.” This thread shows you the pros and cons of Panama, from the people who have seen it, done it and are now living it.
  • What can I do with an offshore company?
    More great advice continues to be posted in this thread. Check it out of you’re thinking about doing business in Panama or setting up an offshore company.
  • Panamanian Mail Service
    Is the Panamanian mail service reliable? What are other mail options? How can I best send mail and larger packages from the US and Europe to Panama?

PANAMA NEWS:

  • PanaExpo 2008
    The culture, excitement and opportunity of Panama are coming to Toronto. PanaExpo 2008 is a consumer trade show that will feature dozens of exhibitors from across the Central-American country, providing visitors with essential information about opportunities available in Panama. The three-day exhibition will be held from May 2 to May 4, 2008 at the Toronto Congress Centre.
  • Live and Invest Overseas Names World’s Six Best Beachfront Buys Right Now
    1. Panama. You’re likely familiar with the many reasons why Panama remains one of the best places to invest your real estate dollars (your retirement and second-home dollars, too). Veraguas. That’s the place to look right now. This large province about three hours west of Panama City hides the best Pacific coast buys in all Central America.
  • Canal zone (Yachting Monthly)
    More than 150 yachts are in a marine ‘traffic jam’ on the east side of the Panama Canal, awaiting transit to the Pacific Ocean. Many have been told it will be ‘weeks’ - in one case two months - before they will be able to get through.
  • Vacation dollar goes far in some places
    Panama: This small country boasts mountains, rain forests, 1,500 miles of coast (your pick of the Caribbean or Pacific) and, of course, the magnificent canal, where you can gawk at supertankers being raised and lowered through the locks. Forget exchange rates: Panama’s currency, the balboa, is pegged at parity with the U.S. dollar, and the dollar itself is accepted virtually everywhere.
  • Torrijos Keeps Steady Rating in Panama
    Public backing for Panamanian president Martín Torrijos has remained stable this month, according to a poll by Dichter & Neira published in La Prensa. 51.1 per cent of respondents say Torrijos has done a good or excellent job in leading the country, practically unchanged since February.
  • Port Authority is expected to renew pact with Panama Canal officials
    The Virginia Port Authority today is scheduled to renew an agreement with the Panama Canal Authority to promote additional trade through the critical cargo route that links the U.S. East Coast with Asia. “The Panama Canal is, of course, a critical trade lane for this port and it will be for (a long time),” said Joe Harris, a Virginia Port Authority spokesman.