Wednesday, October 27, 2010
Innovative Trump Ocean Club is nearing completion in Panama City, photos by Juliette Passer
Wednesday, October 20, 2010
PANAMA CANAL AUTHORITY closes Fiscal Year 2010, summary by Juliette Passer
Summary
Article from La PRENSA Newspaper in Panama City
PANAMA CANAL AUTHORITY closes Fiscal Year 2010 with
US $1,482 million revenue
There was a growth of 1.6 million tons of cargo compared to the same period last year according to the Universal System of the Monitoring Ships in the Panama Canal. Aleman Zubieta said that he was very pleased with having surpassed three hundred million tons in a difficult year for world economy.
In 1914 during the first year of operations, the Canal registered 1108 transits, about 3 ships a day. The most transits effected was in 1970 with 15,523.000 tons, an increase attributed to the Vietnam war - at present the Canal averages 14,000 transits annually, while the size of the ships has increased. Several important world events have affected the Panama Canal. First there was the Great Depression of 1929; afterwards between 1939 to 1945 operations diminished drastically because of the Second World War. During the 1980s there was an increase of up to 200,000 tons because the of the oil shipped from Alaska. When the Alaska pipeline was opened, this figure went down to 160 million tons.
Summary by Juliette Passer, Esq. and Mario Talavera
Trust experience and knowledge.TM
www.panamanagement.com
Article from La PRENSA Newspaper in Panama City
PANAMA CANAL AUTHORITY closes Fiscal Year 2010 with
US $1,482 million revenue
On September 30, the Panama Canal Authority (ACP) closed the Fiscal Year with the total of 300.7 million tons of cargo handled, totaling $1,482 Million revenue. ACP administrator Alberto Aleman Zubieta stated that this figure represents only tolls and does not include other operations like the sale of electric energy and drinking water.
There was a growth of 1.6 million tons of cargo compared to the same period last year according to the Universal System of the Monitoring Ships in the Panama Canal. Aleman Zubieta said that he was very pleased with having surpassed three hundred million tons in a difficult year for world economy.In 1914 during the first year of operations, the Canal registered 1108 transits, about 3 ships a day. The most transits effected was in 1970 with 15,523.000 tons, an increase attributed to the Vietnam war - at present the Canal averages 14,000 transits annually, while the size of the ships has increased. Several important world events have affected the Panama Canal. First there was the Great Depression of 1929; afterwards between 1939 to 1945 operations diminished drastically because of the Second World War. During the 1980s there was an increase of up to 200,000 tons because the of the oil shipped from Alaska. When the Alaska pipeline was opened, this figure went down to 160 million tons.
Summary by Juliette Passer, Esq. and Mario Talavera
Trust experience and knowledge.TM
www.panamanagement.com
Monday, October 11, 2010
PANAMANIAN AIRLINES PLAN TO INCLUDE BOCAS DEL TORO AND DAVID IN REGULAR SCHEDULE, summary by Juliette Passer
PANAMANIAN AIRLINES PLAN TO INCLUDE BOCAS DEL TORO AND DAVID IN REGULAR SCHEDULE
Summary by Juliette Passer
Aero Perlas Airlines manager Nestor Echevers said that these two cities will be included in a global reserve system like Amadeus and Sarber. Joseph Mohan, COPA Airlines (the Panamanian airline) Vice President said talks continue with Air Panama to connect these two destinations with this purchase of a single ticket. He said that if no agreement is reached, COPA will consider buying its own planes or to deal with another airline. The article discusses the procedures to be followed by passengers from these destinations.
Summary by Juliette Passer
Aero Perlas Airlines manager Nestor Echevers said that these two cities will be included in a global reserve system like Amadeus and Sarber. Joseph Mohan, COPA Airlines (the Panamanian airline) Vice President said talks continue with Air Panama to connect these two destinations with this purchase of a single ticket. He said that if no agreement is reached, COPA will consider buying its own planes or to deal with another airline. The article discusses the procedures to be followed by passengers from these destinations.
Thursday, October 7, 2010
SUMMARY by Juliette Passer
SUMMARY by Juliette Passer
(Based on article from LA PRENSA newspaper)
PANAMA CANAL AUTHORITY closes Fiscal Year 2010 with
US $1,482 million revenue
On September 30th the Panama Canal Authority (ACP) closed the Fiscal Year with the total of 300.7 million tons of cargo handled, totaling US $1,482 Million revenue. ACP administrator Alberto Aleman Zubieta stated that this figure represents only tolls and does not include other operations, such as the sale of electric energy and drinking water.
There was a growth of 1.6 million tons of cargo compared to the same period last year according to the Universal System of the Monitoring Ships in the Panama Canal. Aleman Zubieta said that he was very pleased with having surpassed three hundred million tons in a difficult year for the World economy.
(Based on article from LA PRENSA newspaper)
PANAMA CANAL AUTHORITY closes Fiscal Year 2010 with
US $1,482 million revenue
On September 30th the Panama Canal Authority (ACP) closed the Fiscal Year with the total of 300.7 million tons of cargo handled, totaling US $1,482 Million revenue. ACP administrator Alberto Aleman Zubieta stated that this figure represents only tolls and does not include other operations, such as the sale of electric energy and drinking water.
There was a growth of 1.6 million tons of cargo compared to the same period last year according to the Universal System of the Monitoring Ships in the Panama Canal. Aleman Zubieta said that he was very pleased with having surpassed three hundred million tons in a difficult year for the World economy.
Saturday, October 2, 2010
“LOCAL CURRENCY OR THE DOLLAR? THAT IS THE QUESTION” summary by Juliette Passer and Mario Talavera
Summary
Article from EL FINANCIERO supplement
Of LA PRENSA September 21, 2010 entitled
“LOCAL CURRENCY OR THE DOLLAR? THAT IS THE QUESTION”
Panama has always had the dollar as its national currency. The time has come for a change. In March 1988 the U.S. Government froze the funds held by the Banco Nacional de Panama at the FEDERAL RESERVE SYSTEM in New York. That should have been warning enough for Panama to establish its own bank.
The value of the dollar dropped in 1995. At that time well-known financial expert Jose
Nessin Abbo proposed the free circulation of several currencies in Panama. The United
Nations has also suggested a new currency to replace the dollar. What is Panama waiting for? It seems that this problem will not be solved until the dollar collapses, or the
international community agrees on a system to replace the present one. After 150 years of using the dollar, Panamanians have the idea that the dollar is our national currency. This problem cannot last much longer.
The housing bubble has been deflated. The price of gold has doubled, and there seems to be no political will in the United States to face the problem. The U.S.A. is waging a $2 billion war and plans to expand the war to other areas. Other Latin American countries have dollarized their economy, but for different reasons from Panama.
Now Panama has a Canal and a solid economy that generates thousands of millions of
Dollars. Brazil, Colombia, Chile and Peru have Central Banks that function perfectly. There is no reason for Panama not to follow their example.
The truth is that the dollar will collapse sooner or later. The collapse could be caused by a political or economic shock or as a result of an agreement among the great powers. From a historical viewpoint, this phenomenon is inevitable.
Summary by Juliette Passer, Esq. and Mario Talavera
Trust experience and knowledge.TM
www.panamanagement.com
Article from EL FINANCIERO supplement
Of LA PRENSA September 21, 2010 entitled
“LOCAL CURRENCY OR THE DOLLAR? THAT IS THE QUESTION”
Panama has always had the dollar as its national currency. The time has come for a change. In March 1988 the U.S. Government froze the funds held by the Banco Nacional de Panama at the FEDERAL RESERVE SYSTEM in New York. That should have been warning enough for Panama to establish its own bank.
The value of the dollar dropped in 1995. At that time well-known financial expert Jose
Nessin Abbo proposed the free circulation of several currencies in Panama. The United
Nations has also suggested a new currency to replace the dollar. What is Panama waiting for? It seems that this problem will not be solved until the dollar collapses, or the
international community agrees on a system to replace the present one. After 150 years of using the dollar, Panamanians have the idea that the dollar is our national currency. This problem cannot last much longer.
The housing bubble has been deflated. The price of gold has doubled, and there seems to be no political will in the United States to face the problem. The U.S.A. is waging a $2 billion war and plans to expand the war to other areas. Other Latin American countries have dollarized their economy, but for different reasons from Panama.
Now Panama has a Canal and a solid economy that generates thousands of millions of
Dollars. Brazil, Colombia, Chile and Peru have Central Banks that function perfectly. There is no reason for Panama not to follow their example.
The truth is that the dollar will collapse sooner or later. The collapse could be caused by a political or economic shock or as a result of an agreement among the great powers. From a historical viewpoint, this phenomenon is inevitable.
Summary by Juliette Passer, Esq. and Mario Talavera
Trust experience and knowledge.TM
www.panamanagement.com
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