The SuperClubs Breezes Resort at the Bijao residential and golf community in Santa Clara was officially inaugurated last week. Chief executives from the world-famous Jamaican hotel chain were at the ceremony, which was attended by President Ricardo Martinelli and Tourism Authority Administrator Salomón Shamah. [ more ]

Dabbling in real estate can be an interesting hobby. You never know where it might lead you. Gary Elmore of Austin, Texas decided to dabble in Panama a few years ago and it led him from condos in Panama City to a water front house on Taboga, then to a golf villa at the Decameron Resort on the Pacific beaches and finally to a “little old ranch” of 500 hectares in a fabulous area known as “The Lost Coast” near Boca Chica in Chiriqui.

“I’m not a professional developer”, he is quick to point out. Nevertheless, he and his wife, Doris have begun a development on their ranch which was designated as one of three of the best gated communities in Latin America by the magazine “International Living”. The property is several miles from Boca Chica and the very size of it affords the highest degree of privacy and security to residents, making the isolation a welcome feature, especially since, now that there is a good highway to the area, the City of David is only a 45 minute drive away. [ more ]

The company Petaquilla Gold will pay a multi-million dollar fine imposed by the National Environmental Authority (ANAM) for environmental damage in Cerro Petaquilla in November of 2008. The Supreme Court did not accede to a defense of constitutional guarantees by Minera Panama brought against the decision of ANAM to place the fine.

The hearings of the National Minimum Wage Commission ended without agreement over two weeks ago. By law, if the employers and workers who are members of the commission do not reach consensus, the President sets the new wage. The Minister of Labor, Alma Cortez, stated that the new minimum wage will be announced before the end of 2009.

The China Classification Society (CCS), one of the top ten most recognized ship classification societies in the world, will use Panama as its regional headquarters. The company feels confident about the economic development of the country to carry out its local operations and extend into Central America.

The government announced the new prices of gasoline. Everything indicates that 91 and 95 octane fuel will decrease by $0.07 and diesel by $0.04. With this reduction, in the last two weeks of this year prices will be up to 40 cents below the $3 mark, but well above what they were at the beginning of 2009.