Welcome to the Panama Weekly News Roundup! Here’s the latest.
La Crosse products to clean water, conserve energy for Panama Canal
Recycling technology developed in La Crosse will soon be used to keep the waters of the Panama Canal clean. INOV8 International Inc. is preparing two evaporators for shipment to Panama, where they will be used to treat dirty bilge water, which contains oil from ship engines.
The stainless steel tanks take dirty water and turn it into steam, leaving behind oil and salt. Separating the contaminants cuts down the cost of disposal, said Rebecca Faas, co-owner and president of the family business.
Faas said what sets INOV8’s evaporators apart is the burners, which are designed to run on a mix of diesel fuel and used oil, which is first pumped through coils in the evaporator to heat it for combustion.“We’re taking dirty water, collecting oil off the top of the water, then pumping that into the burner to use as fuel,” Faas said.
Source: La Crosse Tribune
CBRE Brokers $25M Sale of Luxury Resort in Panama.
CBRE has completed the sale of the majority interest in Trump Ocean Club Hotel, a 369-unit luxury resort in Panama City’s Punta Pacifica neighborhood. Newland International Properties Corp. sold the stake consisting of 202 hotel units to Ithaca Capital Investments in a $24.5 million deal.
Located at the tip of the Punta Pacifica Peninsula, the property opened in 2011. The stake acquired by Ithaca Capital Investments includes most of the existing suites and all the hotel amenity components, as well as 30,000 square feet of restaurants and bars, five oceanfront pools, parking rights and 21,000 square feet of meeting rooms and ballrooms. The asset is part of the Trump Ocean Club International Hotel and Tower Panama, a 70-story high-rise designed in the shape of a sail, the tallest and largest building in the region.
Source: CP Executives
Panama Ex-President Facing Political Spying Charges Should Be Extradited: U.S. Judge.
A federal judge in Miami on Thursday said former Panamanian President Ricardo Martinelli should be extradited to his homeland to face charges he illegally orchestrated a campaign funded by public money to spy on political rivals there.
U.S. Magistrate Judge Edwin Torres said Panama had established probable cause for all charges it brought against Martinelli, and that a show of “good faith” to its government required his surrender.”There are reasonable grounds to suppose him guilty of all or some of the offenses charged,” Torres wrote in a 93-page decision.
The U.S. Department of State will decide whether to extradite Martinelli, but in an Aug. 1 court filing said it supported extradition. It is not clear when a decision might be made. Martinelli, 65, has denied the charges, and plans to appeal the extradition order, according to an email from his lawyer Marcos Jimenez. He is also seeking political asylum.
Source: US News
Four Neighborhoods Perfect For Expats in Panama City
Panama City, Panama is a great place to live if you’re an expat. It’s the center of the country’s business, tourism, and financial industry, as well as its culture capital. For this, and many other reasons, many expats choose Panama City as their home.
1. El Cangrejo
This is one of the city’s most fun, urban, and central districts. It’s also widely popular for expats looking for city convenience without necessarily the luxury price tag. El Cangrejo has a lot of hotels and tourism on one end, and a vibrant skyscraper-laden residential area on the other end. This mix makes El Cangrejo incredibly popular with expats, who can enjoy lots of well-priced restaurants and nightlife, find a variety of large and small apartments to share or live alone, and parks for recreation. The large expat community also makes it easy to network here, especially if you’re not familiar with Panama or the Spanish language yet.
Source: International Relocation Firm Blog
