A rail alternative to the Panama Canal built by China is being considered by Colombia in a move that would boost trade between Asia and South America. The 220 kilometers 'dry canal' would link Colombia’s Atlantic and Pacific coasts by rail, according to Juan Manuel Santos, the president of Colombia.
Heavy rains have forced the temporary suspension of traffic along the Panama Canal, the major shipping waterway connecting the Atlantic and Pacific oceans which handles 5% of global trade.
A Chinese freighter has become the millionth vessel to cross the Panama Canal three years ahead of the waterway's 100th anniversary, the Canal authority said Monday. The vessel actually crossed the canal September 4 with a load of 40.000 tons of steel products from the Pacific to the Atlantic but the authority announced the news only Monday.
Alternative Latin Investor (ALI), the first and only online news source to provide information on alternative investments in Latin America, has just released an in-depth report on the Panamanian investment environment.
The former Panamanian leader, Manuel Noriega, has been extradited to France by the United States after spending more than 20 years in a prison there.
Panamanian president Ricardo Martinelli announced Thursday there was oil in the Darien jungle and he planned to expand the mining industry in Panama while protecting the environment.