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John Keith and Promerica bank owner 60 percent of aero post

Wed, 04 Nov 2009 19:42:10 +0000

John Keith, CEO of ‘’Banco Promotion’’ in Costa Rica and the James Fendell in Miami has been selling the parts from his business. James Fendell has 40 percentage of the share in aero post and John Keith has 60 percentage of share in the aero post that they own. It was a bit stupidity to sell their products to Miami by these both two intelligent person of panama that are doing unethical plans to destroy the aero post by getting their customers from Miami that is outer region of united states rather a Panamanian.
The both intelligent person may have no idea about ruining the property that they should not have to in order to make the Panamanian industry to move on. There is no response from these both people and attempt to repeat them same question is getting hassle answer.
When they have been tried to contact over the phone calls they are left with the voice mail since they were not present and nothing get back as return from these both peoples. Their building is developed and located at ‘’Banco Promerica’’ in Costa Rica region and that is moved from Costa Rica as a primary manager to John Keith. She is working illegally and operating here with a tourist visa that has been prominently ordered by judicial inspectors.
They have a good commercial license and it requires all kids of evidence to make an indication that aero post individuals have literally a significant meaning with the forms, documents and route of delivery that these packages are using to their almost customers. But the question is who has been delivering the packages. The messenger who playing a crucial role in this game is from St. George bank and that is the reality of the John Keith.
But now a big question is who is Mr. John Keith. By Google is it says that a wonderful SEO who are involved in all these things. They are various definitions about this great guy.
Mr., John Keith is serving is Caribe hospitality as a managing partner and who is senior executive of the Promerica finance corporation for the network they established in North America. He has been serving there for almost 15 years of reputed serving period the year back when it was discovered in Costa Rica and Central America.
Mr. John Keith is also a portafolio Inmobiliario principal partner in S.A. a developer state in this region. He is the one who involved with the setting up the join venture with the Latin America.
He was born 44 years ago in Costa Rica and he is based on Costa Rica and he had a degree of BBA from the Michigan University. The 11th circuit court, Miami has another hearing tat suspect the real outcome to resound in a favor to the air box where these scumbags has discovered the damage. The James Fendell and John Keith have considered as the suspect from the judicial authorities and have been decided to have a favor for air box. They will have to paid for the exceptionally dropping the significant business and will be responsible for the actions to made against them.

Diamond is getting dirty in Panama

Fri, 30 Oct 2009 19:53:51 +0000

The ISN security watch leaders has an arrangement for meeting to establish the first ever diamond exchange among the zone of Latin countries in panama city by the 13th October persuaded by the president. This is going to be the first diamond exchange that will be tax-free. This is design to a public commit to get a free trade zone for the Panamanian diamond exchange program.
This is the supported legislation for the international diamond trading zone to regulate the process to set it up best. The observers are quite worrying with the mined that could play an illegal role in laundering the region hub. This establishment is getting acceptance from the world diamond federation by the year 2008 and it is about to reach a sum of USD 200 million in the regional market. The Latin Americans along with the Hong Kong, Belgium, and New York are going to become the center for it.
The executive director of the PDE, Mr. Haviv Aviad made his involvement along with his brother-in-law that is an Israeli smuggler and found true while investigation in American state. The sources explained that both of them travelled to Nicaragua by the year April 2000 for AK-47 rifles. They were wanted to make the shipment done in an ease to receive these weapons that were arriving from the Columbia forces.
In another case, he is found his activity with the Venezuelan diamond trader where he has written a later in year 2007. He always involved in illegal activity from the global market place. The major concern with his was allegedly smuggling of illegal products and he has been working for almost 10 years in this field. The Venezuela ill willingness now could affect the rich land of panama by the Haviv and this is the only reason they want to exchange the diamond in a fair and fully transparent way. He always looking to continue his job to smuggle and get in the world market to sell his smuggled items.
Diamonds are the products that are easy to get with smuggle away and panama is a victim of this smuggling and illegal event for a long time. This tendency could bring the real success to enjoy with trading for the diamond and exchanging among the Latin countries.
Venezuela is the member from the Kimberley process foundation for international diamond trade. After the year, 2005 Venezuela has never stated the estimation reports about the diamond exports from his country and they have earned approximately a sum of USD 30 million for 150,000 to 300,000 carats diamond. The country rough stone is placing in the black world and they are almost involved with the criminal activity for the diamond producing over those areas. They are also using this money for smuggling, buying weapons and many other criminal activity performances.
‘’Venezuela has said his removal from the Kimberley and this separation took him to get on mining portfolios from the oversight.’’ The diamond market watchdog Mr. Shawn Blore has mentioned this all.
This issue however soon seems to have an end because the government will place another claim to stop forcing for the minors. Blore has admitted that the there in more explanation for the Venezuelan government that is largely affecting this mining to get an end. It seems like there are the stubborn and ill will people who are doing all their efforts. By the January 2009 the Venezuelan minister of mining explained that govt. may open the mining areas of the diamonds in the major region. Govt. also is taking responsibility to announce the new plans to set up a diamond plant for public policy. President Hugo Chavez said that creating it as a diamond city will imply the over sight of the government. He is looking for a loan to create this diamond mining sector to rebuild.
The Iranian president later in 2009 agreed with the Venezuelan president for the joint venture to design for the minerals and gems to their city. Including the gems, diamonds, minerals, and quartz the company will settle a huge investment part that will be focusing on these areas along with the nuclear development that need to be done.
A BBC reporter has said that diamond production will be centered to many states accordingly and the Venezuelan, Brazil border will the production area that will be regulated with the undermined efforts from the government.
Diamond mining in this region explained as a robust and fully controlled place to lose the layers for an individual to purchase it from the miners when they are looking to find their sells with the abroad market.
Brazil that is another member of this Kimberley process mining is now looking to give up in a fraction of time by the 2006 that is unable to give away the promising results to establish the controls over monitoring for its diamonds.
The decision made by Brazilian government will seem now to heel the carbon operation by the early 2006 that was the busiest for the Brazilians smugglers. The smuggling process is rather advantages to certify with the registered with the federal Brazil police documents. The complete business is exported with the 54 percentage over all.
The PAC has published a report that says that the sources should have made for the rough stones and will not be close to diamond business to identify the stolen items. A man moved away years before the process get to its conclusion of carbon operation. The other people are now homeless living in the Brazil.
Investigators also depicted that the half of the almost Kimberley process from the Brazil has received with the fake documents that created it problematic to manifest the major countries there to consider major route for diamond exports in Guyana city of Brazil.
The Guyana however particularly remains a member from the process that has centered to the diamond in UAE. A large demand will make the traders to entitled with adhere to locates the process for exporting and involved with the rough stones for a couple of cases that is running activities over.
In the year 2005, the govt. of Guyana find the green mineral and trading attempt to exports more than 8000 carats from the illegal origins. The investigation took place and they have found that the Venezuelan regions was not the responsible for the diamond stones to live there but the Georgetown was another affected area where it was laundered through for battle green field.
The investigation said furthermore that the new company had over 4000 carat of the diamonds presumably from the Venezuelan region and the government probably notified this by the documents they had as a proof. The panama seems to become nefarious region where the lesser extent is available to clear the scenario and to find the security watch here over.

Market rise seminar from the SBP

Tue, 27 Oct 2009 01:17:02 +0000

Keeping the technical staffs that are specialist, the SBP has organized the market risk seminar to understand them by the October 19, Thursday 23. Angel Vilarino, the consultant and the Nuria Alonso had shares their great experiences in this international lecture for the financial subject by the 23rd October. They have been charged in the market risk and originally measured the participants and inform the prices.
This end with the training program that was initially establish with the implementation by the September as the instruments and derivatives of finance. These seminars give chances for officers to join the banking supervision and economic studies to overcome with the national securities for the commission in panama.

French banks will be losing Panama branch

Fri, 02 Oct 2009 18:27:45 +0000

The French based bank BNP, Paribas has announced officially to close the Panama branch by the year 2010 because they have found the panama in the list of tax havens. The economic corporation and development has recently produced the list of such countries. This was the decision made publically in the G-20 meeting that was organized last week where the leaders affirm the summit to fight against the tax havens. The BNP, Paribas has been serving in panama for almost last 57 years of performance. The bankers and the analytics found the other resources to consult this issue and doubted stated that the decision was on the pressure created due to economic corporation and development.
Frank De Lima, the economy minister convinced to find the real reasons for such an unbelievable reason that is going on with the banks. The restriction was based on the fact that said to the recent financial crisis.
De Lima stated that Panama is taking action to go as per the summit requirements made by economic corporation and development. He also said to launch the negotiation for the treaties to avoid the taxation from the members in the organization. The current members are Italy, Spain, Netherlands and Mexico and panama is trying every possibility to resolve this summit. He also met the French president in the U.N. earlier by this month but that does not seem to get successful.

Panama Will Propose a Multilateral Bank to Confront the Global Crisis

Wed, 01 Jul 2009 15:50:30 +0000

The perspectives of the Treaty of Commercial Promotion (TCP), between Panama and the United States and its approval by the United States Congress were discussed in the audience sustained between the President Martin Torrijos and the North American commercial representative Ron Kirk, before the beginning of the 5th Summit of the Americas in Trinidad and Tobago.
Torrijos also met with the Prime Minister of Barbados, David John Howard Thompson, with whom he raised the necessity of strengthening even more the economic and commercial relations between both countries.
At the conclusion of the bilateral meetings, the first vicepresident and chancellor of the Republic, Samuel Lewis Navarro, indicated that in this hemispheric summit, Panama will reiterate it’s proposal for the recapitalization of a multilateral bank that will operate in the region as a formula for confronting the economic crisis that affects the majority of the countries of the continent.
Lewis navarro added that this initiative fixes the official position of Panama inside the discussions that will be held by 34 heads of government and states of the member countries of the Organization of American States (OAS).
“This is a central topic that Panama has been pushing forward for some time and it will be newly remembered”, stated the minister of foreign relations.
Besides, he recognized that amongst the expectations generated at the contintental level is bringing up other sensitive topics such as the international fight against drug trafficking and organized crime to guarantee the governability of countries in the area.
Recently en Medellin, Colombia, President Martin Torrijos pondered the necessity of strengthening the International Bank of Development (IBD), when it acted as background speaker in the act of closure of the Assembly of Governors of the stated contintental banking institution.
Lewis Navarro congratulated likewise the initiative of the government of the United States of facilitating special conditions for Cuban-Americans for their travel without restrictions to Cuba and over the sending of remittances to the island, which in his judgment will receive attention of the particpants of this summit.
An outstanding point on the work agenda of the visit of President Torrijos to Port of Spain is constituted by the meeting that will be held with the President of the United States, Barack Obama, the presidents of those countries that belong to the System of Central American Integration, of which Panama is a signer, next Sunday morning.
The agenda of President Torrijos also includes meetings with members of both sides of the United States Congress such as Elliot Engel, Max Baucus, Charles Rangel, Sander Levin and Kevin Brady.
The official delegation of Panama that participates in the Summit of the Americas is made up of, apart from Chancellor Lewis Navarro, the ministers Gisela Alvarez de Porres and Ruben Blades and the ambassadors of Panama in Washington and for the Organization of American States (OAS) Federico Humbert and Aristides Royo Sanchez, respectively.

Banco Central de Cuba has a new president

Sat, 27 Jun 2009 21:32:26 +0000

The State Council of Cuba Ernesto Medina Villaveirán appointed as new chairman of the Central Bank (BCC), replacing Francisco Soberon Valdes’ request for itself, “according to a press release yesterday.
Soberon, who played that position nearly 15 years with loyalty and honesty “according to the official, asked to be relieved of that position and its status of member of the Communist Party Central Committee (PCC) and the Council of State and member of the National Assembly.
Soberon said that the text of 65 years, expressed interest in “fulfilling the old dream of engaging writing and research on international finance, making their results available to the party and government.” It also reaffirmed its willingness to “continue to work at any task given to him by Fidel and Raul (Castro).”
The new owner of the BCC, Ernesto Medina, he was president of the Banco Financiero Internacional, which handles much of the accounts of foreign companies based in Cuba. Medina is a graduate in Economics and over 35 years has gone from the base to various management positions in the national banking system.

Panama sees banking scandal

Thu, 25 Jun 2009 22:56:06 +0000

On Tuesday the Texas Bank’s customers started withdrawing their deposited funds from the bank and there was a huge panic when the news of fraudulent by Robert Allen Stanford, the only share holder of Texas Bank, was released in the media. US Security Commission investigated Robert Allen Stanford for his fraudulently obtaining $8 billion from 50,000 investors. The two branches of Punta Pacific and Stanford Bank in Obarrio was surrounded with customers, going to ATM machines and cashiers, who wanted to empty their accounts opened with them.
When the management of the bank told the fragile situation they undergone after the fraud done by its only share holder, the bank Superintendent took initiative to save the bank and stopped the operations on Tuesday and appointed Ramon Martinez Stagg as the interim administrator on Wednesday to stop the panic. He was the Executive President of Stanford Bank in Panama.
Robert Allen Stanford is being searched by the Federal authorities. Currently they went to his house, but he could not be found.
U.S. Marshals took control of all the offices and SEC investigators are laying claim Stanford and close associates of him scammed tens of thousands of investors out of billions of dollars. They were trying to win their approval in safe CDs, certificates of deposits, faking double-digit returns.
Two erstwhile employees of the Houston-based company filed a lawsuit and left Stanford. They said that they were pushed to resign when they found the indecency in the financial status.
In the meantime in the banking sector in Panama has been agitated by the Stanford Bank news. Everyone is trying to study the decision of the Superintendent of the bank. The administration is emphasizing that the situation of Stanford Bank is an isolated case. They say it was not a result of worsening of the bank’s financial situation in Panama but it was a result of the decisions made by a foreign government.
Ricardo M. Alba said that because of the legal base the steps taken by the Superintendent of the bank, it was justifiable especially when the Stanford Bank’s main shareholder has been charged under the United States of Banking fraud.
“It was necessary to take preventive measures to stop massive withdrawal in Panama,” said Ricardo M. Alba.
The superintendent of the bank has rejected to provide any more explanations as to what will happen to Stanford Bank in future. He has refused to say anything about the destiny of the bank.
For the time being the measure are taken up and will continue as per required.

Panama Banking System Begins to Moderate Growth, Consolidating Financial Margins

Sat, 13 Jun 2009 22:18:26 +0000

As of February, 2009 the Panama Banking System began to moderate its growth, consolidating its financial margins, which will guarantee its stability, solidity and safety.
The smaller growth of the assets is a result in great measure to the following factors: prognostications of slower economic growth during 2009, reduction in the growth of the capture of local funds, more strictness in credit policies, preferences for liquidity as well as potential pressures on portfolio quality; uncertainty in the external financial arena and its impact on access to external lines of credit.
In accordance with the executive report of the Superintendance of Banks of Panama (SBP) the growth of twelve months (12M) of the assets of the Banking System in the month of February is 13.6% (less when compared to the 15.1% in January) and the financial margin is maintained at a level of 2.8%.
The growth (12M) of internal credit for the private sector was 13.9%, observing a lessor rhythm in the growth of commercial credit (9.2%) and mortgages (8.6%).
Likewise, the flow of intermonthly loans between January and February of the present year reached a level of B/53 million, due to the important reductions in mortgage credit. The interim construction credit and that of consumption demonstrate significant increases.
The increase in the flow of interim construction is indicative that the payments of projects in the construction phase are being maintained until the completion of the works with guaranteed financing.
The moderated growth of credit portfolios responds to a minor increase in the capture of personal savings. In February 2009, the increase of 11.9% was lightly minor if compared to the 12.3% in January and the 14.9% which closed in December of 2008.
The quality of credit portfolios still shows favorable indicators that do not demonstrate a deterioration in the condition of loan portfolios, which is reflected from the process of a more rigurous administration of credit.
On the other hand, the levels of specific provisions over the highest risk porfolio is satisfactory, given that the characteristics of commericial financing and the construction interims as well as the underlying guarantees for the mortgage and commercial portfolio.
The Panama banking report reflects that the assetss in the individual base of the Banking Center reached B/64,084 million which represents an increase of 8.9% with respect to the same period a year earlier.
The portfolio of external investments increased 12.3% and is located princiapply in private titles and stocks. It is concentrated in the United States, Central American and South American markets.
While the deposits captured from abroad originate prinmarily in the countries Organisation for Economic Co-operation and Development (29.8%), South America (27.5%) and the Caribbean (21.7%).
The system maintains in a stable form the average financial margin of 2.8% which is indicative that the capacity of creation of earnings is maintaining itself healthy.
Lessor results from productive assets, associated with changes in interest rates compensate for reductions in the costs of maintenance of these assets.
For further information on the results of the banking center, visit the web page: www.superbancos.gob.pa. Node: Financial Statistics/Statistical Reports/Year 2009/February

Superintendant of Banks Participates in Meeting of Offshore Group of Banking Supervisors (OGBS)

Mon, 01 Jun 2009 15:53:39 +0000

The Superintendant of Banks of Panama, Engineer Olegario Barrelier, participated in a meeting of the Offshore Group of Banking Supervisors (OGBS) that was held in London, England from March 30 to March 31 of 2009.
During the meeting, topics related to the prevention of laundering of capital and the financing of terrorism were discussed, the considerations of the last report from the Group of Problem Banks of the Basil Committeeand and related themes with the report of the Working Group that recommends the Basic Principles for Insurance Systems for Cash Deposits.
This turned out to be an excellent opportunity fo the representatives of the member nations of the OGBS to exchange points of view and to establish guidelines for topics of specific banking regulation that must be establishd to confront financial problems on the world level.

Panama, merchant of diamonds

Wed, 22 Apr 2009 21:23:01 +0000

For 15 years, the world federation of diamond bourses searched for a country in latin america to open a bourse. Panama’s advantages made it a favorable spot to open the world’s 28th diamond bourse. The initiative could become a reality in 2010.
Commercializers of diamonds, jewels and precious stones in latin america and the world will be able to buy and sell commodities in Panama.
“if a latin american merchant wants to buy a diamond he has to travel to the United States, Belgium, Tel Aviv, or China,” comments haviv aviad, executive director of the bolsa de diamantes de Panamá, or Panama diamond exchange (pde).
But in may of this year, Panama was chosen by the world federation of diamond bourses – an organization that represents more than 20 bourses around the world that commercialize uncut and polished diamonds and precious stones – to be the seat of the diamond bourse for latin america and last week its representatives made the official announcement in Panama.
Unlike other bourses where negotiations take place for papers, coins and goods, in the pde diamonds will be bought and sold between merchants from different parts of the world.
Panama had to compete with countries like argentina, brazil, mexico, colombia and chile, but factors such as economic stability, a solid banking system, geographic position, and the fact that it has an air hub that connects the entire region, were decisive enough that the federation had a unanimous vote in favor of Panama.
Behind this process was Erez Akerman, who is now the president of the pde and who was in charge of investigating and searching for the location of the 28th bourse in the world and the only one in latin america.
Akerman recounts that this is a job that took three years and after taking his proposal to the federation, it was put to a vote in the world diamond congress in shanghai in may of 2008, where Panama was finally chosen.
This choice involves the construction of a 52 story building with 300 offices with the largest and “best” companies involved in the commercial exchange of diamonds, jewels and precious stones, an exchange area for raw materials for all of latin america, restaurants, stores, banks, and currency exchange offices. All of this in an area of 10,000 square meters
“a building with an advanced security system,” adds aviad.
On one side of the exchange, a five star hotel will be erected, a shopping center with some of the most exclusive jewelry stores in the world.
The investment of this project, which will be located on the east coast, is 200 million dollars and it is hoped that it will be ready in 2010.
“the diamond exchange is not about building one building and starting work, but instead creating a diamond market organized for all of latin america,” he assures.
Business in Brazil and Venezuela, some of the largest producers of diamonds in the world, is out of control.
The world federation of diamond bourses this year made a call to boycott the distribution of diamonds proceeding from Venezuela for not cooperating in the fight against the illegal contraband of more than 150,000 carats of precious stones and for not following the kimberly process of the united nations that certifies the legal origin of raw materials.
When the federation decided to install a bourse in the region, it was with the objective of ordering the business in the region.
“the commerce has been conducted in a very informal manner and hasn’t been regulated by the state. There should be a system to import, export, register, determine how mines are exploited, and not illegitimate enterprises that want to make their own agenda above that of the country,” he details.
The volume of sales of diamonds in latin america is seven billion dollars annually. A market that includes 15,000 jewellers. “it’s a big market, but it’s not ordered. There needs to be more information about the industry in the region. We are virgins in this area,” he points out.

Exchange and regulation
The president of the pde emphasizes that the work of the exchange is not only to have a central point where merchants are gathered to buy and sell diamonds, but rather to regulate the market.
For this, in 2000 an intiative was created that was endorsed by the united nations, called the kimberly process, that creates a system of control that guarantees adecuate commerce of precious stones.
The diamond industry has 200 billion dollars of sales around the world, and in the year 2000, the so-called “blood diamonds” represented between 20 and 30 percent of the world’s production of the precious stone.
That is also the name for the stone that is sold to finance terrorist and illegal groups, or that which is exploits miners for the extraction of the material, or that which is extracted without caring for mineral resources.
The kimberly process was created so that each country would be responsible for its own production, to control and detain the blood diamonds, and would be implemented from production, and commercialization, to exportation and importation of the same.
“each country that produces diamonds can’t export them without an original kimberly processs certificate. If it doesn’t possess this certificate, it can’t commercialize them in the diamond bourses of the world, and the diamond will be rejected for the rest of its life.”
If Panama has been selected to install the diamond bourse for latin america, the country still needs to accept and implement the kimberly process as have 74 countries around the world.
“by doing so, Panama will accept not negotiating in blood diamonds,” he recognizes. When commercializers arrive on Panamanian terrotory, specifically the diamond bourse of Panama, they must be revised and controlled accoring to the kimberly process.