Zelaya threatens violence
if he is not reinstated
By the A.M. Costa Rica wire services
and the A.M. Costa Rica staff
The ousted president of Honduras has threatened violence against the interim government if he is not restored to power.
José Manuel Zelaya, in a Nicaraguan television interview, said Friday there will be "generalized violence" if the coup is not reversed.
Meanwhile, Nicaragua President Daniel Ortega, who has been hosting Zelaya, warned the Honduras interim government that Nicaragua's forces are prepared to fight if attacked. He said that he thought the interim Honduran government might stage a raid into Nicaragua to distract attention from the internal problems.
Earlier Friday, the interim leader of Honduras, Roberto Micheletti, said there is no way ousted President Zelaya will return to office, dampening hopes of a negotiated settlement to the political crisis in Honduras.
The country has been politically divided since Zelaya was forced from office and flown out of the country June 28 to Costa Rica. The military says he was illegally trying to change the constitution to extend his term.
Supporters of the ousted president took to the streets of the Honduran capital again Friday. Police fired tear gas at demonstrators who blocked the main highway out of Tegucigalpa. At least 88 people were arrested on Thursday during similar protests.
Micheletti said Sunday that there would be no more blocked roads in Honduras and that the police and military would clear them of protestors. A curfew was lifted except for areas along the border with Nicaragua.
Zelaya is supposed to travel to México to meet with President Felipe Calderón there Tuesday. He met with Hugo Llorens, the U.S. ambassador in Nicaragua and said he urged Washington to apply more pressure on the interim government.
Friday in Honduras a judge issued another set of arrest warrants for the ousted president. They alleged misappropriation of some $2 million in public funds.
Monday, August 3, 2009
Sunday, August 2, 2009
Multi-International Corporations Eying Panama
Multi-National Corporations Eyeing Panama
Story by La Prensa English Edition
Panama is seeking $1 billion in foreign investment from multinational corporations.
Companies from the United States, Singapore, Taiwan, Japan and Europe are looking at Panama as a possible site to expand their operations, according to officials with the Ministry of Commerce.
The ministry is currently reviewing proposals from a number of companies seeking to take advantage of a special program established in 2007 that offers incentives to companies opening offices in Panama. Currently, 23 companies have set up offices in Panama under the program.
Minister of Trade and Industry Roberto Henríquez said that he preferred not to release any details about the ongoing negotiations until they are complete. But he said that the government wants to attract $1 billion of foreign investment a year for the next five years.
One deal that is complete is the decision by General Electric to move its regional operations from Costa Rica to Panama. The company is currently considering sites in places such as Clayton and the former Howard Air Force Base. It has 225 employees at its Costa Rica office, but that number could expand when the headquarters are moved to Panama depending on factors such as the availability of qualified personnel.
The ministry is also working on reviving the project to establish an oil refinery off the coast of Colón, an initiative that seems to have fallen off the radar screen since it was announced a few years ago.
One way that Panama is promoting foreign investment is by streamlining the immigration process for foreign managers and investors of international companies locating here.
The government also plans to add staff members to its embassies in countries with which Panama has free trade agreements. These employees would be focused on ways to increase trade with those countries.
Adolfo Linares, president of the Chamber of Commerce, said that the government's attempts to lure international companies to the country should be supported as it will lead to a positive direction for the economy.
Story by La Prensa English Edition
Panama is seeking $1 billion in foreign investment from multinational corporations.
Companies from the United States, Singapore, Taiwan, Japan and Europe are looking at Panama as a possible site to expand their operations, according to officials with the Ministry of Commerce.
The ministry is currently reviewing proposals from a number of companies seeking to take advantage of a special program established in 2007 that offers incentives to companies opening offices in Panama. Currently, 23 companies have set up offices in Panama under the program.
Minister of Trade and Industry Roberto Henríquez said that he preferred not to release any details about the ongoing negotiations until they are complete. But he said that the government wants to attract $1 billion of foreign investment a year for the next five years.
One deal that is complete is the decision by General Electric to move its regional operations from Costa Rica to Panama. The company is currently considering sites in places such as Clayton and the former Howard Air Force Base. It has 225 employees at its Costa Rica office, but that number could expand when the headquarters are moved to Panama depending on factors such as the availability of qualified personnel.
The ministry is also working on reviving the project to establish an oil refinery off the coast of Colón, an initiative that seems to have fallen off the radar screen since it was announced a few years ago.
One way that Panama is promoting foreign investment is by streamlining the immigration process for foreign managers and investors of international companies locating here.
The government also plans to add staff members to its embassies in countries with which Panama has free trade agreements. These employees would be focused on ways to increase trade with those countries.
Adolfo Linares, president of the Chamber of Commerce, said that the government's attempts to lure international companies to the country should be supported as it will lead to a positive direction for the economy.
Plan Your Sunday In Boquete Panama
Posted by editor on August 1, 2009
Start with the second Boquete Gastronomic festival and then a trip just down the road to Guari Guari for a good cause.
The Boquete Panama community owes a great deal to Gordon and Richelle Brown. In their time here they have given tirelessly to Casa Hogar Trisker and the reading program in Palmera. Now as they are leaving Boquete they are asking for one more community effort to help deliver another dream.
The music camp for Casa Hogar Trisker was a success due to their efforts. Based on that success, the LEAF foundation invited some of the music camp participants to the LEAF music and arts festival in North Carolina this October. We are looking to raise another $4,000 to insure that we can cover costs of transportation, passports and visas for the seven children who have received government permission to attend.
Please come to Guari Guari this Sunday and add your donation while enjoying the music.
Music Festival at Guari Guari
Sunday 2nd of August there will be a Benefit Concert at restaurant – bar Guari Guari, with performances from:
Rich Cacianti, Bruce Brown, Randy Pigott, Babbie Earle, Bob Applegate, Dana Applegate, Yella & Tom Werder, Reggie, Profesor Ovidio and his band, Bill Meehan, Kent McNaughton, Marcelino Sanchez and Gordon & Richelle!!!
The purpose of the Music Festival is to raise funds for Casa Hogar Trisker to enable 7 children to attend the LEAF music and arts festival in North Carolina this October (and off course: to have a great time).
The Festival starts at 3 pm, Guari Guari will be open from 10 am.
The Daily Special for Sunday will be our famous Thai Dish
CU next Sunday at Guari Guari
We are located in Palmira Centro. The entrance is about a 3 minute drive outside the town of Boquete. If you are leaving Boquete going toward David you will pass the first entrance on the right to Volcancito…continue past the school, the stadium, another school–Sagrado Corazon, and then there is a new plaza (Plaza San Francisco) on the right–make a right at the Plaza toward Spanish by the River and Boquete Country Club. You go up this road for about 5 minutes (you will go over a bridge and pass the Café Ruiz processing plant on your left)–soon you will enter the small town of Palmira Centro. When you arrive stay on the main paved road–Mini Super Guerra will be on your left. We are the orange building two buildings past the mini super on the left. Questions? Call: 6887-6023 & 6795-3533 (Alexander & Dikla).
Start with the second Boquete Gastronomic festival and then a trip just down the road to Guari Guari for a good cause.
The Boquete Panama community owes a great deal to Gordon and Richelle Brown. In their time here they have given tirelessly to Casa Hogar Trisker and the reading program in Palmera. Now as they are leaving Boquete they are asking for one more community effort to help deliver another dream.
The music camp for Casa Hogar Trisker was a success due to their efforts. Based on that success, the LEAF foundation invited some of the music camp participants to the LEAF music and arts festival in North Carolina this October. We are looking to raise another $4,000 to insure that we can cover costs of transportation, passports and visas for the seven children who have received government permission to attend.
Please come to Guari Guari this Sunday and add your donation while enjoying the music.
Music Festival at Guari Guari
Sunday 2nd of August there will be a Benefit Concert at restaurant – bar Guari Guari, with performances from:
Rich Cacianti, Bruce Brown, Randy Pigott, Babbie Earle, Bob Applegate, Dana Applegate, Yella & Tom Werder, Reggie, Profesor Ovidio and his band, Bill Meehan, Kent McNaughton, Marcelino Sanchez and Gordon & Richelle!!!
The purpose of the Music Festival is to raise funds for Casa Hogar Trisker to enable 7 children to attend the LEAF music and arts festival in North Carolina this October (and off course: to have a great time).
The Festival starts at 3 pm, Guari Guari will be open from 10 am.
The Daily Special for Sunday will be our famous Thai Dish
CU next Sunday at Guari Guari
We are located in Palmira Centro. The entrance is about a 3 minute drive outside the town of Boquete. If you are leaving Boquete going toward David you will pass the first entrance on the right to Volcancito…continue past the school, the stadium, another school–Sagrado Corazon, and then there is a new plaza (Plaza San Francisco) on the right–make a right at the Plaza toward Spanish by the River and Boquete Country Club. You go up this road for about 5 minutes (you will go over a bridge and pass the Café Ruiz processing plant on your left)–soon you will enter the small town of Palmira Centro. When you arrive stay on the main paved road–Mini Super Guerra will be on your left. We are the orange building two buildings past the mini super on the left. Questions? Call: 6887-6023 & 6795-3533 (Alexander & Dikla).
Panama arouses interest as stock market
Story by Minerva Bethancourth / The Panama Post
Registration of issuers increased With ten years as the regulatory body the entity prepares to take on new challenges according to the international trends
The National Securities Commission (CNV) has just completed ten years of operation, but away from the festivities, the regulator of the Panamanian stock market prepares to introduce a series of adjustments with the goal of strengthening the market.
The stock market whose main protagonists are the issuers, intermediaries and investors, remains active. The CNV has registered 98 issuers, with 46 additional securities houses, 23 not private investment companies, three pension fund administrators and the Panama Stock Exchange, additional supplements that drive the market for local securities.
The activity in the stock market remains active and has gained prominence for businesses as an alternative source to obtain funding.
Recent figures from CNV show that from July 2 to 6, the total of registered securities is $ 514,975 million and that there are $ 289.146 million under procedures.
But the accomplished achievements are also due to the sustained growth of international stock markets, mainly the U.S. market, driven by the growth of technology companies, investment services to serve the industry and the number of securities houses that are set in Panama to offer services, either directly or through local and foreign banking institutions.
At the head of the CNV is Juan Manuel Martans, a lawyer with experience not only in the local financial market, but internationally, and who worked at the Colombian Institute of Administration and the Stock Exchange of Bogotá.
Martans, appointed as President Commissioner for the period 2007 to 2012, confirmed the dynamism that the stock market activity maintains and the interest Panama generates for foreign companies as an exchange market.
The executive stressed that the CNV is in a review process of some regulations in order to adapt to changes facing the global financial market.
To deepen on these regulations, the performance of stock markets and its expectations, Juan Manuel Martans spoke with The Panama Post on this matter.
How is the Panamanian stock market?
It is a market that is growing and this is noted with the entry of new investors, and new emissions. This fact demands oversight and monitoring more closely the operations that these investors perform.
What new strategies are being adopted today by the National Securities Commission?
We are about to adopt new rules in the capital market, is a fairly broad issue in the stock market. We are analyzing the rules that relate to obtaining licenses for operation of the securities houses to be more expeditious.
We have also submitted for public consultation a project addressing foreign securities houses that wish to conduct remote negotiations with countries that have recognized jurisdictions. The purpose of this project is to provide greater liquidity to the stock market, increase the volume of transactions and promote the local stock market.
What are the advantages offered by the CNV to the market players?
One of the advantages that the CNV offers is the law that allows foreign companies linked to stock market activity to conduct operations from Panama to other latitudes. It´s not like other legislations in the area that when they grant a license to a security house is just to perform operations in the country.
Laws regulating stock market activity offer security and transparency for those wishing to start operations in the country.
What do you define as the main achievements of the CNV?
Among the achievements we can mention supervision, which has been a very important factor in market promotion. Agents regulated by the commission have led their processes to the level of disclosing all their financial information in order for the market to be fully confident in the processes being undertaken by the commission. Confidence is undoubtedly a cornerstone in the stock market.
What are the objectives of the CNV in the long term?
The objectives are to continue regulating, supervising and promoting the market. Our intention is to issue new rules. In the short to medium term we are about to modernize and update rules that have long been issued. We are also about to issue new figures such as the remote operator.
Registration of issuers increased With ten years as the regulatory body the entity prepares to take on new challenges according to the international trends
The National Securities Commission (CNV) has just completed ten years of operation, but away from the festivities, the regulator of the Panamanian stock market prepares to introduce a series of adjustments with the goal of strengthening the market.
The stock market whose main protagonists are the issuers, intermediaries and investors, remains active. The CNV has registered 98 issuers, with 46 additional securities houses, 23 not private investment companies, three pension fund administrators and the Panama Stock Exchange, additional supplements that drive the market for local securities.
The activity in the stock market remains active and has gained prominence for businesses as an alternative source to obtain funding.
Recent figures from CNV show that from July 2 to 6, the total of registered securities is $ 514,975 million and that there are $ 289.146 million under procedures.
But the accomplished achievements are also due to the sustained growth of international stock markets, mainly the U.S. market, driven by the growth of technology companies, investment services to serve the industry and the number of securities houses that are set in Panama to offer services, either directly or through local and foreign banking institutions.
At the head of the CNV is Juan Manuel Martans, a lawyer with experience not only in the local financial market, but internationally, and who worked at the Colombian Institute of Administration and the Stock Exchange of Bogotá.
Martans, appointed as President Commissioner for the period 2007 to 2012, confirmed the dynamism that the stock market activity maintains and the interest Panama generates for foreign companies as an exchange market.
The executive stressed that the CNV is in a review process of some regulations in order to adapt to changes facing the global financial market.
To deepen on these regulations, the performance of stock markets and its expectations, Juan Manuel Martans spoke with The Panama Post on this matter.
How is the Panamanian stock market?
It is a market that is growing and this is noted with the entry of new investors, and new emissions. This fact demands oversight and monitoring more closely the operations that these investors perform.
What new strategies are being adopted today by the National Securities Commission?
We are about to adopt new rules in the capital market, is a fairly broad issue in the stock market. We are analyzing the rules that relate to obtaining licenses for operation of the securities houses to be more expeditious.
We have also submitted for public consultation a project addressing foreign securities houses that wish to conduct remote negotiations with countries that have recognized jurisdictions. The purpose of this project is to provide greater liquidity to the stock market, increase the volume of transactions and promote the local stock market.
What are the advantages offered by the CNV to the market players?
One of the advantages that the CNV offers is the law that allows foreign companies linked to stock market activity to conduct operations from Panama to other latitudes. It´s not like other legislations in the area that when they grant a license to a security house is just to perform operations in the country.
Laws regulating stock market activity offer security and transparency for those wishing to start operations in the country.
What do you define as the main achievements of the CNV?
Among the achievements we can mention supervision, which has been a very important factor in market promotion. Agents regulated by the commission have led their processes to the level of disclosing all their financial information in order for the market to be fully confident in the processes being undertaken by the commission. Confidence is undoubtedly a cornerstone in the stock market.
What are the objectives of the CNV in the long term?
The objectives are to continue regulating, supervising and promoting the market. Our intention is to issue new rules. In the short to medium term we are about to modernize and update rules that have long been issued. We are also about to issue new figures such as the remote operator.
There may be some thawing on Zelaya in Tegucigalpa
There may be some thawing on Zelaya in Tegucigalpa
By the A.M. Costa Rica wire services
The mediator in the political crisis in Honduras says interim Honduran President Roberto Micheletti is interested in further negotiations on ending the country's month-long leadership standoff.
Costa Rican President Óscar Arias Sánchez said Micheletti has asked him to send an envoy to Honduras to help build political support for a solution. He says Micheletti suggested a former head of the Inter-American Development Bank, Enrique Iglesias, for the job.
News reports quote a source close to the interim government as saying Micheletti has expressed willingness to support a compromise plan that would allow ousted President José Manuel Zelaya Rosales to return to power under certain conditions.
The military threw Zelaya out of the country June 28 and flew him to Costa Rica, saying he was illegally trying to change the constitution in order to extend his term. His efforts to return to Honduras have been unsuccessful.
Zelaya is believed to be in Nicaragua near the Honduran border. Some reports quoted him as saying he would raise a peasant army to win back his job by force if he did not get a concession from the interim government. Nicaragua President Daniel Ortega supports him.
A clash between Nicaraguan and Honduran troops could be a bloody affair, and it is this as well as street riots that Arias is trying to prevent.
The mediation plan calls for Zelaya to finish his term, which ends in January, abandon any effort to change the constitution, and agree to a coalition government.
The de facto government has previously threatened to arrest Zelaya, if he returns. Zelaya has tried twice to enter Honduras but it appeared he did not see the popular support he expected.
No countries have recognized Honduras' caretaker government and many, including the United States, have called for Zelaya to be reinstated and democratic order to be restored.
By the A.M. Costa Rica wire services
The mediator in the political crisis in Honduras says interim Honduran President Roberto Micheletti is interested in further negotiations on ending the country's month-long leadership standoff.
Costa Rican President Óscar Arias Sánchez said Micheletti has asked him to send an envoy to Honduras to help build political support for a solution. He says Micheletti suggested a former head of the Inter-American Development Bank, Enrique Iglesias, for the job.
News reports quote a source close to the interim government as saying Micheletti has expressed willingness to support a compromise plan that would allow ousted President José Manuel Zelaya Rosales to return to power under certain conditions.
The military threw Zelaya out of the country June 28 and flew him to Costa Rica, saying he was illegally trying to change the constitution in order to extend his term. His efforts to return to Honduras have been unsuccessful.
Zelaya is believed to be in Nicaragua near the Honduran border. Some reports quoted him as saying he would raise a peasant army to win back his job by force if he did not get a concession from the interim government. Nicaragua President Daniel Ortega supports him.
A clash between Nicaraguan and Honduran troops could be a bloody affair, and it is this as well as street riots that Arias is trying to prevent.
The mediation plan calls for Zelaya to finish his term, which ends in January, abandon any effort to change the constitution, and agree to a coalition government.
The de facto government has previously threatened to arrest Zelaya, if he returns. Zelaya has tried twice to enter Honduras but it appeared he did not see the popular support he expected.
No countries have recognized Honduras' caretaker government and many, including the United States, have called for Zelaya to be reinstated and democratic order to be restored.
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