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Newest Additions
 The most elegant Oceanfront $295,000
 Torre 200 $0
 Top Towers $199,838
 1000m2, Titled, walking distance to the beach, Pocri, Azuero $19,500
 Esquisite Townhome $375,000
 Single Family home for Sale in Los Molinos $265,000
 Destiny $290,000
 Pacific Village $425,000
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Tourism Authority selects the ten wonders of Panama
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The Panama Tourism Authority announced the winners of its contest “The ten wonders of Panama”, which aimed to select the best tourist site in each one the nine provinces.
The voting was done using the interactive web site of the Tourism Authority where people were able to vote for their favorite place.
The competition aimed to promote tourism in the provinces, because the majority of the advertisement resources are concentrated in the capital city.
The ten winning sites will receive a combined prize of $1 million for a period of three years to advertise and promote an internal tourism campaign for the chosen sites.
The ten winning places are: Colon, the San Lorenzo Fort; Bocas del Toro, Pajaro Island; Chiriqui, Las Calderas de Gualaca; Darien, Las Piñas Bay; Herrera, Santo Domingo church; Los Santos, Santa Librada church; Panama, Bayano Lake; Veraguas, San Francisco de la Montaña church and Cocle, Basilica Menor de Santiago.
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IDB Lends $500M To Support Panama's Banking Industry
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The Inter-American Development Bank, or IDB, Thursday said it approved a $500 million loan to strengthen the liquidity of Panama's banking system.
The loan will be channeled through Banco Nacional de Panama, a state-owned institution that also acts as a commercial and development bank, the Washington-based multilateral lender said in a press release.
"The funds are expected to partially offset a shortfall in dollar-denominated lending to the productive sector triggered by the current global financial crisis," the IDB said.
Banco Nacional de Panama will act as an intermediary to provide working capital and foreign-trade financing to the industrial sector, the IDB added.
The loan, which expires in five years and has a three-year grace period, will pay a spread of 4 percentage points over the 6-month London interbank offered rate.
The loan is part of a $6 billion program recently created by the IDB to help governments respond to the needs of commercial banks that may face difficulties in accessing foreign and inter-bank credit lines due to the global credit crunch.
The IDB noted that Panama has a solid economy that grew at an average 8.8% between 2004 and 2008, far outpacing the 5.5% regional average.
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Wardrobe Maintenance
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By Aimee Arnold - Living Made Simple
Keeping active and physically fit is something that we should all do, but making time to do so is something different all together. For some, working out is a part of their routine and for others (like me) it’s a grueling task. But forget failed resolutions! Panama is a great place to begin again and set goals to make physical activity a priority.
Physical fitness does not have to be torture. There are so many different methods to get in shape! And the good news is that Panama is much like the first world in this aspect – you can find a wide selection of classes.
For those who enjoy basic cardiovascular classes and weightlifting, there are several reasonably priced gyms here in Panama. The most important factor in choosing a gym is that it is close to your home or on your daily route. But I usually lack the stamina to stick with cardio and weight training routines at traditional gyms. I’m not well versed on how to use the machines and it all feels a little overwhelming with the buff weightlifting fanatics pulling out sets at 90 pound intervals! And those step-type aerobics classes! Hats off to those of you who are brave enough to participate! How do you learn the movements of all those steps?
I need a little special attention in this area and in Panama there are specialty wellness centers that I recommend starting out with. They are less overwhelming and provide added benefits such as stress and pain management, teaching us to find peace in our breathing and in the movement of our bodies! While there are several great techniques such as Yoga and dance, one such activity that I’ve become a huge fan of since moving to Panama is Pilates. I used to suffer with intense back pain and a tiring overall feeling of weakness. It’s amazing to see how Pilates transformed not only my body but also the way I see the incredible design of the human body.
While Pilates works you out, it’s relaxing and not overly exhausting. It strengthens the muscles while generating flexibility and range of motion. It assists us in consciously connecting our bodies with the healing and regenerative power of oxygen through our breathing and blood circulation. It’s amazing to realize we have over 600 muscles in our bodies (some of them we don’t ever even use!). Pilates teaches us how to connect with and strengthen even the tiniest ones of those muscles so that we can be functioning at 100% capacity!
There are different types of Pilates: mat workouts, with balance balls as well as on sophisticated machines. I’ve taken both mat and machine classes at several Pilates studios throughout Panama City, including a wonderfully refreshing and invigorating class outdoors at the park in Clayton! Pilates is for young and old as well as those who are pregnant or suffering with ailments/injuries. And guys, contrary to what you may think, these techniques are not created for women… men will find the same benefits and the classes just as fulfilling.
I know how it feels to be out of shape and to feel low on energy and out of balance and it absolutely sucks! Life is so much better when we take care of ourselves physically which assists us in lifting our spirits mentally and emotionally. When you get a chance, take a moment to Google “Pilates” to learn in more detail what it’s all about or if Pilates doesn’t interest you, keep searching until you find something that sings to you.
If you need a recommendation on where to find a reputable Pilates studio near you or any other recommendations for gyms/physical fitness, please feel free to write in to me at info@livingmadesimple.com. Have a great week! Enjoy!
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Panama Canal has Contributed $5,036 million to the State
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Since 2000 - when Panama took over the administration of the Canal - until 2008, the Panama Canal Authority (ACP) has made direct contributions to the State for $3,934 million. This amount is 75% of the cost of the expansion program which amounts to $5,250 million. These contributions come from the excess profits of each fiscal year, payments for services rendered by the State (such as garbage collection), and one U.S. dollar per net tonne passing through.
Additional to the direct contributions, the ACP also pays income taxes, social security quotas and educational insurance for its workers, which between 2004 to 2008 totaled $1,102 million. The sum of all contributions to the State from the Canal over eight years totals $5,036 million, according to the ACP.
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