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☆ 120 passengers on Cunard Cruise got sick with diarrhea and vomiting from an unknown cause
▼ + stars: | 2024-02-01 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

Read previewMore than 100 passengers and some staff members sailing on Cunard Cruise Line's Queen Victoria ship fell ill from an unknown cause this month, according to the Centers for Disease Control and Prevention. The cruise ship was in Guatemala as of Tuesday, according to the itinerary, and is set to arrive in Honolulu around February 12. Cunard did not immediately respond to Business a request for comment from Business Insider. The agency said 100 people, including passengers and crew, got sick, with the main symptoms being vomiting and diarrhea. In January 2023, Cunard's Queen Victoria received a high sanitation score, 95 out of 100.

Persons: —, Cunard Cruise, Victoria, CruiseMapper, Queen Victoria, Cunard Organizations: Service, Cunard, Centers for Disease Control, CDC, Business, Cunard Cruise, Fox Business, Celebrity Cruises Locations: Fort Lauderdale , Florida, Aruba, Panama, Guatemala, Honolulu

☆ Luis Tejada: Panama’s all-time leading goal scorer dies age 41
▼ + stars: | 2024-01-29 | by ( Matias Grez | ) edition.cnn.com time to read: +1 min

CNN —Former Panama striker Luis ‘Matador’ Tejada, who helped the national team qualify for its first ever World Cup in 2018, has died at the age of 41, the Panamanian Football Federation (FEPAFUT) announced on Sunday. Local media reported that Tejada, whose 43 international goals makes him Panama’s all-time leading goal scorer, collapsed while playing in a local recreational league. CNN Sport has reached out to the Panamanian national police for comment. Panama finished a point and two places ahead of the US men’s team, which failed to qualify for the World Cup for the first time in 32 years. Panama troubled Tunisia in the team’s opening group match in Russia, but the north African side came from a goal behind to win 2-1.

Persons: Luis ‘ Matador ’ Tejada, Tejada, FEPAFUT, Blas Pérez, ” Tejada Organizations: CNN, Panama, Panamanian Football Federation, Local, CNN Sport, Panamanian, police, CONCACAF, US Locations: Panama, Panamanian, Tunisia, Russia, England, Belgium

☆ Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +8 min

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was "impacting everyone and something we're very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was "only mildly impacted by the transit challenges in the Red Sea."

Persons: It's, Petersen, Ryan Petersen, Clifton Broumand, Broumand, it's, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti Organizations: Galaxy, Houthis Media, Getty, Machine, Hamas, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer Urban Outfitters, Free People Locations: Iran, Yemen, Anadolu, Greater Landover , Maryland, Taiwan, China, Gaza, Panama, Asia, Europe, United States, Suez, Africa, Ukraine, Belgium, Germany, British, Maryland, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was “only mildly impacted by the transit challenges in the Red Sea."

Persons: What’s, Ryan Petersen, Petersen, It’s, Clifton Broumand, Broumand, —, ”, “, it’s, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, it's, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti, ____ Anderson, Kelvin Chan, Anne D'Innocenzio, Yuri Kageyama, Tom Krisher, David McHugh Organizations: WASHINGTON, —, Hamas, Machine, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer, Free People, AP Business Locations: Belgium, Germany, British, Maryland, Asia, Ukraine, Yemen, Gaza, Europe, United States, Suez, Africa, “, Panama, Greater Landover , Maryland, Taiwan, China, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India, New York, London, Tokyo, Detroit, Frankfurt

☆ Panama Canal Drought Slows Cargo Traffic
▼ + stars: | 2024-01-26 | by ( Mira Rojanasakul | ) www.nytimes.com time to read: +8 min

PANAMA CANAL Colón Atlantic Ocean Lake Alajuela Gatún Lake Panama City PANAMA Ship traffic Pacific Ocean PANAMA CANAL Colón Lake Alajuela Atlantic Ocean Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Colón Lake Alajuela Atlantic Ocean Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Ship traffic Pacific Ocean PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic Source: MariTrace Ship movements from Jan. 19 to Jan. 21, 2024. Panama Canal Drought Slows Cargo TrafficThe lake that allows the Panama Canal to function recorded the lowest water level ever for the start of a dry season this year, which means that vastly fewer ships can pass through the canal. The Panama Canal Authority has reduced daily traffic through the narrow corridor by nearly 40 percent compared with last year. “The fact that the Panama Canal operates on freshwater is a major disadvantage compared to other water routes,” said Ricaurte Vásquez Morales, the administrator of the Panama Canal Authority, in a video address last month. But it may not be enough to meet the pressing demand for cargo traffic through the Panama Canal.

Persons: El, Jan, ”, Ricaurte Vásquez Morales, Gatún, Joshua Tewksbury, Gloria Arrocha Paz, Arrocha Paz Organizations: PANAMA Ship, Panama Canal Authority, Maersk, Panama Canal, Smithsonian Tropical Research Institute, Demand, Times, Smithsonian Tropical Research Locations: PANAMA, Lake Panama, Panama City PANAMA, Lake Panama City PANAMA, Panama, East Coast, United States, Northeast Asia, South America, Tewksbury, Indio, Gatún, Panama City, Panama Canal Authority, What’s

UNITED NATIONS (AP) — The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Since November, the Iranian-backed Houthis have launched at least 34 attacks on shipping through the waterways leading to the Suez Canal. Total transits through the Panama Canal in December were 36% lower than a year ago, and 62% lower than two years ago, Hoffmann said. Hoffmann said ships transporting liquified natural gas have stopped transiting the Suez Canal altogether because of fears of an attack. “Here you see the global impact of the crisis, as ships are seeking alternative routes, avoiding the Suez and the Panama Canal,” Hoffmann said.

Persons: Jan Hoffmann, Yemen’s Houthi, Hoffmann, Yemen’s, ” Hoffmann Organizations: UNITED NATIONS, United Nations Conference, Trade, UNCTAD, Suez, U.N, Ships Locations: Red, Ukraine, Panama, Suez, Asia, Europe, Iranian, Saudi, Israel, United States, Britain, Geneva, Russia, East Africa, South Asia, Southeast Asia, East Asia, Hope, Africa, Shanghai, U.S

☆ These charts show how much traffic has plunged in the Suez and Panama canals — and the potential impact on inflation
▼ + stars: | 2024-01-22 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Read previewThe number of vessels passing through the Suez Canal and Panama Canal have dropped 50% from normal levels, according to Apollo Management's top economist. AdvertisementSuez Canal slowdownAbout 12% of global trade passes through the Suez Canal, according to an estimate from the US Naval Institute. Related stories"Normally, 200 ships travel through the Suez Canal from south to north over a week, but that number has recently declined to 100," Sløk wrote. Suez Canal traffic is down 50% APThe trouble in the Suez Canal has been ratcheting up as Yemen-based Houthi rebels have been launching attacks against ships in the Red Sea, forcing some ships to take longer — and costlier — detours. And although goods inflation has been tumbling, higher shipping costs could send that back up again if they continue to follow recent trends.

Persons: —, Torsten Sløk, Sløk, Thierry Wizman Organizations: Service, Business, US Naval Institute, Apollo, Container, Shipping, Apollo Management, Macquarie Locations: Suez, Panama, Yemen, Red, Shanghai, Rotterdam, Drewry

☆ Top CEOs fear that volatile supply chains are now just the new normal
▼ + stars: | 2024-01-19 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Kristian Helgesen | Bloomberg | Getty ImagesDAVOS, Switzerland — Top CEOs are closely following tensions in the Red Sea, warning that this kind of volatility for supply chains is likely here to stay. Houthi rebels from Yemen have attacked commercial vessels traveling in the Red Sea since November. Supply chains were massively disrupted during the pandemic and the subsequent bounce back, given the restrictions and the closure of borders. Tobias Meyer, the CEO of DHL, shared concerns over the new normal for supply chains. "We have an issue in the Panama Canal, we have an issue in the Red Sea.

Persons: Ebba, A.P ., Kristian Helgesen, Jesper Brodin, Brodin, Tobias Meyer Organizations: A.P, A.P . Moeller, Maersk, Bloomberg, Getty, Ingka, CNBC, Economic, IKEA, DHL Locations: Suez, Egypt, DAVOS, Switzerland, Red, Yemen, Iran, Gaza, United States, Hope, Africa, Asia, Europe, Davos, Panama

☆ Red Sea shipping crisis unlikely to lift inflation much, UBS says. Here's why
▼ + stars: | 2024-01-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Inflation is unlikely to rise much in the U.S. as a result of global shipping costs spiking due to militant attacks in the Red Sea, according to UBS. U.S. freight costs have soared 64% since mid-November when Houthi militants in Yemen began to target commercial vessels transiting the Red Sea, according to the bank. "The impact from shipping costs alone to inflation is likely very small," Kapteyn said. But Kapteyn said the Red Sea disruptions will have less of an effect than the supply chain disruptions that helped fuel inflation during the pandemic. The attacks in the Red Sea come as traffic is also restricted through the Panama Canal due to low water levels from a drought.

Persons: Arend Kapteyn, Kapteyn, Good Hope, Goldman Sachs Organizations: UBS, U.S, Daily, Shipping, JPMorgan, Macquarie, Wall Locations: U.S, Red, Yemen, Suez, Bab, Mandeb, Good, Africa, Panama, Iran, Macquarie, Persian, Hormuz, Strait

PANAMA CITY (AP) — A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world's most important trade routes. The new cuts announced Wednesday by authorities in Panama are set to deal an even greater economic blow than previously expected. On Wednesday, Panama Canal Administrator Ricaurte Vásquez said they would cut daily ship crossings to 24, after already gradually slashing crossings last year from 38 a day in normal times. It was a “significant reduction” for the country, Vásquez said. “The water problem is a national problem, not just of the Canal,” Vásquez said.

Persons: Ricaurte Vásquez, Vásquez, ” Vásquez, “, ” Organizations: PANAMA CITY, Central American Locations: PANAMA, Panama

☆ This stock should benefit from Red Sea turmoil disrupting shipping, Redburn says
▼ + stars: | 2024-01-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The railroad Canadian Pacific Kansas City is poised to benefit from mounting disruptions to shipping in the Red Sea that are rerouting global trade routes, according to Redburn Atlantic. The railroad's land bridge through North America is an attractive alternative for cargo from Asia to the U.S. East Coast as the Suez and Panama canals face disruptions to traffic. Container shipping through the Red Sea was down 30% in mid-December due to repeated attacks by Iran-allied Houthi militants in Yemen, Holmes told clients. CPKC's land bridge through Mexico north to the U.S. shortens transit time by 10 to 14 days compared to the Panama Canal, Holmes wrote. "This route is materially faster (10-14 days) than going through the Panama Canal, especially when there are restrictions in place," he told clients.

Persons: Oliver Holmes, Holmes, CPKC Organizations: Canadian, Canadian Pacific Kansas City, U.S ., Ships, Kansas City Southern, CP Locations: Canadian Pacific Kansas, Lázaro, Coast, U.S . East Coast, North America, Asia, Suez, Panama, Iran, Yemen, Hope, Africa, U.S . East, Mexico, U.S

☆ War and climate change are the main obstacles to aggressive Fed rate cuts in 2024, strategists say
▼ + stars: | 2024-01-14 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

War and climate change are the main risks that could threaten aggressive Fed rate cuts, Macquarie said. That's because conflicts in the Middle East and a parched Panama Canal risk creating supply shocks that stoke inflation. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "War and climate change are becoming the main risk to the view that the Fed cuts aggressively," analysts led by Thierry Wizman wrote in a note on Friday. Such turmoil can end up pinching consumers because the Red Sea is a major shipping artery — the Suez Canal, which connects the Red Sea to the Mediterranean Sea, carries about 12% of global trade.

Persons: Macquarie, Thierry Wizman, Wizman Organizations: Service, Federal Reserve, Fed, Drewry, . Shipping, Maersk, CMA CGA, UK, International Monetary Fund Locations: Panama, Red, Africa, Yemen, Suez

☆ Considering a move abroad in 2024? These are the best countries for expats
▼ + stars: | 2024-01-13 | by ( Blane Bachelor | ) edition.cnn.com time to read: +26 min

The survey, which has been running for a decade, reflects input from nearly 12,000 expats representing 177 nationalities in 181 countries or territories. John Coletti/The Image Bank Unreleased/Getty ImagesA longtime retirement destination for Americans, Mexico also has attracted more families and the digital nomad set over the past few years. Pros: Mexico ranked first in InterNations’ 2023 Expat Insider survey and has ranked among the top five countries since 2014. Cons: As is the case in Mexico and other countries with large expat communities, there’s growing backlash against the influx of foreigners, especially Americans, and especially in Lisbon. That popularity among auslanders has contributed to a housing pinch in major cities, especially Berlin, where finding accommodation is one of the most stressful aspects of a move.

Persons: It’s, Megan Frye, Frye, ”, “, We’ve, John Coletti, San Miguel de Allende, margarita, Sean Pavone, expats, Alex Ingrim, Chase, Ingrim, it’s, pollsters, they’re, it’s MVV, Arielle Tucker, that’s, auslanders, Andriy Kravchenko, “ Costa, ” David Lesperance, Costa Rica’s, “ Tico, Sebastien Lecocq, Lesperance, he’s, what’s, Emily, ” Tucker, Roth, Tucker, Carte Organizations: CNN, Invest Overseas, Braga, InterNations, Mexico, National Institute of Statistics, Human Rights Watch, Visa, USA, CNN Travel, ”, Spain, International, Travel Association, pollsters Gallup, Michelin, Changi, Cons, United, Costa Rica Costa, Central, Costa, Lesperance, Associates, Panama Panama, Miami of, Panama City, Panama Qualified Investment, Panama Golden Visa, France France Locations: Valencia, Spain, Portugal, Mazatlán, Mexico, United States, Mexico City, Michigan, Mexico Mexico, Plaza Carso, Polanco, North America, —, Oaxaca, San Miguel, Playa, Carmen, InterNations, Portugal Portugal, Porto, Douro, Europe, Lisbon, Western Europe, Madrid, Barcelona, Seville, Bilbao, Catalonia, Catalan, Netherlands, Amsterdam, Statista, Haarlem, Delft, Leiden, Maastricht, Washington, Miami , New York, San Francisco, Germany Germany, Munich, Germany, Berlin, Frankfurt, Stuttgart, Switzerland, Singapore Singapore, Singapore, Asia, Entre, Costa Rica, “, “ Costa Rica, Costa Rican, Panama City, Miami, Miami of Central America, Panama, North, South America, Italy, Venice, Italian, Paris, France, Lyon, Strasbourg

☆ Global shipping rates set to jump as carriers avoid the Red Sea amid Houthi attacks
▼ + stars: | 2024-01-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. British clothing retailer Next recently warned of stock delays as a result of the longer ocean transit. "This creates strong motivations for ocean carrier(s) to increase rate(s) by establishing General Rate Increases (GRIs), Peak Season Surcharge (PSSs), and other contingency or emergency surcharges," the company said. "HLS warned Transpacific freight rates could spike to highs not seen since early 2022, with the Suez Canal route suspended, and the Panama Canal route restricted." Kuehne + Nagel analysts told CNBC that 419 vessels are currently being rerouted due to the Red Sea situation.

Persons: Jon Gold, HLS, Good Hope, Kuehne, Nagel, Franziska Bietke, Mark Rhodes, Rhodes Organizations: Lane Shipping, Ikea, National Retail Federation, CNBC, MSC, U.S ., East, U.S . Shipping Act, Federal Maritime Commission, Kuehne, Logistics, Crane Worldwide Logistics, CNBC PRO Locations: Suez, Ismailia, Egypt, Iran, Red, Africa, Asia, British, West Coast, Panama, U.S . West Coast, East Coast, Gulf of Mexico, South Africa's, Good, Project44, Europe

☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

☆ Best travel destinations to visit in 2024
▼ + stars: | 2024-01-01 | by ( Cnn Travel Staff | ) edition.cnn.com time to read: +32 min

cdwheatley/iStockphoto/Getty Images Angola: Beyond the capital city of Luanda, pictured, Angola has some jaw-droppingly spectacular scenery and cultural treats. David ChiaFF/Alamy Stock Photo Mérida, Mexico: Yucatán state's capital city showcases a blend of Mayan and colonial heritage. Pavel Tochinsky/The Image Bank RF/Getty Images Morocco: This North African country is home to nine UNESCO sites, including the historic city of Meknes, pictured. Panama City is also the only world capital with a tropical rainforest within its city limits. And a historic city forever entwined with the famed Camino de Santiago.

Persons: you’d, Tengguo Wu, Gabriele Thielmann, Turkey's, Gary Ennis, Matevz, Bill Bachman, Christian Kober, Gonzalo Azumendi, David ChiaFF, Pavel Tochinsky, Terry Kelly, Raul Rodriguez, iStock, Anton Petrus, –, — Karla Cripps Turkey’s, — Barry Neild, Mana Kaasik, — Maureen O’Hare, — Maggie Hiufu Wong, Deb Snelson, Glen Arbor, Marnie Hunter, — Forrest Brown, — Forrest Brown Angola Cristo, Eric Lafforgue, it’s, King, Eric Carr, John’s, Saint John, New Brunswick —, —, Tuul, Bruno Morandi, — Julia Buckley, Groenewald, Alamy, — Lilit Marcus, Alexander the Great, Philip II of Macedon, — JB, Bogdan Lazar, — Tamara Hardingham, Gill, Hercules, Francesca, Lazarus, ”, David Casanova, Megan Sequeira Casanova, “, Kuka y Naranjo, medina, Gordon Sinclair, Yvette Cardozo, — FB, Pierce Ingram, Stefan Tomic, Fujairah, who’ve, Samarkand —, It’s Organizations: CNN, United, CNN Travel, Getty Images, Town, Getty, Northwest, Saint, New Brunswick Tourism, UNESCO, Heritage, Alamy, Parque Nacional Volcán Barú, Galicia, Tercera Orden, Parque, Bank, Wakulla Springs, Texas, United Arab Emirates, AP, Rock, of Culture, Estonian National Museum, — Maggie Hiufu Wong Northwest Michigan, Bear, Farm, Riders, Lubango, — BN Saint John, Canada Tourists, St, Saint John City Market, Historic, Saint John Arts Centre, Carnegie, Carnegie Library, — KC, Korea, Folk, Netflix, South Korea, Adriatic, Nacional Glaciares, Australian Sea Lions, Panama, Spain Santiago de, Spain Santiago de Compostela Cathedral, Islas, Camino, Mexico People, YouTube, US State Department, Morocco, Regis Hotels, Resorts, — FB Texas, Travel Texas, Krause, Gruene, Fujairah, Icefjord, FS, Tuul, ” Locations: United States, Sumba, Indonesia Sumba, Indonesia, Bali, Getty Images Tartu, Estonia, Tartu —, European, Tainan, Taiwan, Northwest Michigan, Traverse City, Lake Michigan, iStockphoto, Western Balkans, Culebra , Puerto Rico, Flamenco, Culebra, cdwheatley, Angola, Luanda, , New Brunswick, Fundy, New Brunswick, New Brunswick Tourism South Korea, Korea Albania, Albania, Chile, mauritius, Western Australia, Greece, Macedonia, American, Panama, Spain, Camino, Santiago, St, John's, Mexico, Parque Hidalgo, Morocco, Meknes, Florida, Spicewood, Anton, Greenland, Denmark, AP Uzbekistan, Bukhara, Indonesian, Sumela, Turkey's, — Barry Neild Tartu, Estonia Tartu, of Culture Tartu, Tartu, “, Baltics, — Maureen O’Hare Tainan, Taiwan Tainan, Taipei, — Maggie Hiufu Wong Northwest, Lake, Traverse, Leland, Glen, perusing, Balkans, Slovenia, Bosnia, Herzegovina, North Macedonia, Serbia, transdinarica.com, —, Puerto Rico, It’s, — Forrest Brown Angola, Lubango, Barra, Cabo Ledo, — BN Saint John , New Brunswick, Canada, Hopewell, Newfoundland, Saint, Canada’s, Korea Andong, South Korea, Sanga, Korea, Seoul, Busan, Andong, Albania Albania, Berat, Montenegro, Vlorë, Gjirokastër, — Julia Buckley Chile, Atacama, Patagonia, Coral Coast, Geraldton, — Lilit Marcus Macedonia, Thessaloniki, Greece's, Hemis, Athens, Vergina, Veria, Naousa, Greece’s, Thrace, Philippi, Kavala, Panama . Panama City, Gill Galicia, Spain Santiago, Spain Santiago de Compostela, Galicia, Galicia’s, Santiago de Compostela, Cabo, Fisterra, Galicia —, Singapore, John’s, Paseo, Montejo, Mérida, Yucatán, getaways, there’s, Marrakech, Rabat, Fes, Resorts Morocco, Wakulla, Ginnie, Fredericksburg, Texas, Marble Falls, Meanderers, New Braunfels, Dubai, Abu Dhabi, Wadi, Nuuk, Ilulissat, West, FS Uzbekistan, Samarkand, Uzbekistan, China, India, Khiva, Uzbek, Sentob, Tashkent

☆ Want to avoid crowds while traveling? Here's the 'not hot' list for 2024
▼ + stars: | 2023-12-28 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +5 min

Adventure travel company Intrepid Travel's new "Not Hot" list is out — spotlighting overlooked travel spots around the world. The 2024 list calls attention to two destinations in Asia, two in Europe and one in Central America. Source: Intrepid TravelUnlike Italy's tourist-saturated Positano, travelers visiting Corsica can "enjoy a more authentic, tranquil, and immersive experience ... without the overwhelming crowds," according to a press release by Intrepid Travel. Intrepid Travel recommends Panama for those who wish to "immerse themselves in local traditions, folklore, and contemporary arts ... that differs from the more European-centric cultural landscape," the press release stated. Source: Intrepid Travel

Persons: Matt Berna, Nick Lim, Lim, Gonzalo Azumendi, Emberá, David C Tomlinson Organizations: Intrepid, Americas, Intrepid Travel, CNBC Travel, UNESCO, Heritage, Euromonitor International, Japan National Tourism Organization, Korea Tourism Organization, The Travel Corporation, CNBC, Trip.com, La Amistad, Bank, Getty Locations: Asia, Europe, Central America, Corsica Corsica, France, Corsica, Seoul Tokyo, Singapore, Seoul, Korea, Intrepid Travel Tokyo, Tokyo, Panama Panama, Central American, Costa Rica, Colombia, Panama, Panama Viejo, Casco, Darien, La, Guna, Corfu Greece, Santorini, Mykonos, Kefalonia, Corfu, Greece, Split, Dubrovnik, Croatia, Borneo Borneo, Southeast Asia, Malaysia, Brunei, Indonesia, Kalimantan, Indonesian, Sarawak, Sabah, Borneo, Malaysian, Indonesian's Kalimantan

☆ Costa Rica Arrests Ex-Panama Presidential Hopeful Tied to Money Laundering Case
▼ + stars: | 2023-12-05 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +2 min

SAN JOSE/PANAMA CITY (Reuters) - Costa Rican police on Tuesday arrested Panamanian businessman and former presidential hopeful David Ochy on charges of fraud and money laundering, judicial authorities said on Tuesday, following an Interpol request. Ochy was wanted by Interpol for being central to a case linked to former Panamanian President Ricardo Martinelli, who was in July sentenced to over a decade in prison for money laundering. Ochy enrolled as a presidential pre-candidate for Martinelli's Realizing Goals party ahead of the 2024 vote, which protected him from facing trial in the Martinelli case last summer. Ochy faces criminal charges for money laundering and using a fraudulent Costa Rican identity card, Zuniga said. Carlo Diaz, who heads Costa Rica's state attorney's office, said he could be extradited to neighboring Panama though he must first face criminal proceedings in Costa Rica and could even serve a prison sentence there.

Persons: David Ochy, Ochy, Ricardo Martinelli, Martinelli, Randall Zuniga, Zuniga, Carlo Diaz, Javier Caraballo, Alvaro Murillo, Elida Moreno, Sarah Morland, Sandra Maler Organizations: JOSE, PANAMA CITY, Tuesday, Interpol, Central American Locations: PANAMA, Costa Rican, Panamanian, Costa Rica, Rican, Caribbean, Pococi, Costa Rica's, Panama, San Jose, Panama City

☆ The World’s Key Canal Is Clogged Up. Winter Fuel Prices Could Get Wacky.
▼ + stars: | 2023-12-01 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

The Panama Canal is running out of water, threatening the global supply chains and industries that depend on it. WSJ takes you inside the canal’s operations to understand what this means for the future of this vital shipping route. It could make your winter heating bills more unpredictable too, particularly if you live at the end of long and vulnerable fuel supply chains. Prices for Brent crude, the main global benchmark, are down about $9 a barrel, or about 10%, since mid-September. But Asian propane LPG prices are lower only by 3%, data from Argus Media shows, trading around $665 per metric ton in late November.

Organizations: Brent, Argus Media Locations: Panama, Asia

Cobre Panama has said it is committed to growing more new forest than is impacted by its mine. "We aren't going anywhere," Sabino Ayarza, a representative of the protesting fishermen, told Reuters on Tuesday from his boat. Their grassroots movement, nearly unheard of in business-friendly Panama, has wiped C$11 billion ($7.4 billion) off First Quantum's market value and raised global copper prices on supply worries. The protesters' victory in Panama is emblematic of the outsized and sometimes unexpected influence local communities are having on mining companies worldwide. Cobre Panama accounted for about 46% of First Quantum's overall revenue in the third quarter, according to company data.

Persons: Aris Martinez, Sabino Ayarza, Ayarza, Codelco, Valentine Hilaire, Divya Rajagopal, Fabian Cambero, Christian Plumb, Denny Thomas, Nick Zieminski Organizations: REUTERS, Aris, PANAMA CITY, Minerals, Reuters, Panamanian, Tuesday, Scotiabank, Protesters, First, Thomson Locations: Panama City, Panama, PANAMA, TORONTO, Portugal, Peru, Chile, Macquarie, Mexico City, Toronto, Santiago

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. The comments are the first by the company on the future of the Cobre Panama mine's ownership since Tuesday's court ruling. Panama has seen unprecedented public protests after the government signed a new contract with First Quantum for its Cobre Panama mine. MacWilliam told the conference that given the events in Panama, it remains unclear when Cobre Panama will be able to resume operations. The mine closure also has consequences for the Central American nation, as Cobre Panama contributes about 5% to Panama's economy.

Persons: Laurentino Cortizo, Ryan MacWilliam, MacWilliam, Divya Rajagopal, Elida Moreno, Denny Thomas, Chizu Nomiyama, Nick Zieminski Organizations: Minerals, REUTERS, Aris, Rights TORONTO, Quantum, Scotiabank, Reuters, Jiangxi Copper Co, Central, Thomson Locations: Panama, Donoso, Canadian, Jiangxi, Central American, Lincoln

☆ Panama’s Supreme Court Rules Against Major Copper Mine
▼ + stars: | 2023-11-28 | by ( José De Córdoba | Anthony Harrup | ) www.wsj.com time to read: 1 min

The Cobre Panama mine represents about 1.5% of world copper production. Photo: stringer/ReutersPanama’s top court ruled Tuesday against a contract between the government and Canadian miner First Quantum Minerals , placing in jeopardy one of the world’s largest copper mines. The court unanimously ruled that a law passed in October by the National Assembly, which recently approved a revised contract between the mining company and the Panamanian government, is unconstitutional. The law provided a legal framework for the contract allowing the company to operate the large mine.

Organizations: Reuters, Minerals, National Assembly Locations: Panama, Panamanian

"We have decided to unanimously declare unconstitutional the entire law 406 of October 20, 2023," Supreme Court President Maria Eugenia Lopez said. First Quantum acknowledged the ruling and affirmed its "unwavering commitment to regulatory compliance in all aspects of our operations within the country." Panama President Laurentino Cortizo said the country will abide by the court ruling. For First Quantum, the Panama ruling would be a repeat of its decade-old experience in the Democratic Republic Of Congo. The company exited DRC in 2012 after it filed an arbitration procedure against the African country for cancelling its mining contract.

Persons: Aris Martinez, Maria Eugenia Lopez, Quantum, Laurentino Cortizo, Morgan, Ricardo Martinelli, Leonardo Di Caprio, Elida Moreno, Valentine Hilaire, Natalia Siniawski, Denny Thomas, Chizu Nomiyama, Mark Porter Organizations: Minerals, REUTERS, PANAMA CITY, Reuters, Panama, London Metal Exchange, Central, RBC, Democratic, Natural Resources Corporation PLC, Cobre, Thomson Locations: Panama's, Panama, Panama City, PANAMA, Central American, Democratic Republic Of Congo, Hollywood, Cobre Panama

WILL SHOPPERS FIND BLACK FRIDAY DEALS THIS YEAR? HOW MUCH ARE SHOPPERS EXPECTED TO SPEND? Spending online during Black Friday is expected to rise 5.7% to roughly $9.6 billion, according to Adobe. WHAT ARE RETAILERS DOING TO ATTRACT HOLIDAY SHOPPERS? Macy's CEO Jeff Gennette on Thursday said the competitive landscape has shifted to Black Friday deals prior to Black Friday.

Persons: Marcus Collins, Collins, Jane Hali, Max, Lancome mascaras, Bobbi Brown concealers, Dana Telsey, Leonardo Fernandez Viloria, David Bujnicki, Kimco, Jeff Gennette, Mattel, Steve Totzke, Juveria Tabassum, Savyata Mishra, Richa Naidu, Helen Reid, Herbert Lash, Josie Kao Organizations: Retailers, Department, Ross School of Business, University of Michigan, Dollar, Walmart, Associates, Nordstrom, Adobe Analytics, Electronics, Mastercard, National Retail Federation, Telsey Advisory, Sensormatic Solutions, U.S, Black, REUTERS, Adobe, Labor, Kimco Realty Corp, Consumers, Deloitte, Reuters, Thomson Locations: U.S, Europe, Philadelphia, China, United States, Caracas, Venezuela, Panama, Israel, Sixth, Washington, Germany, India, Spain, United Kingdom, Bengaluru, London

View of the Cobre Panama mine, of Canada's First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo Acquire Licensing RightsNov 24 (Reuters) - Panama's top court started deliberations on Friday to rule on several constitutional challenges to First Quantum Minerals' (FM.TO) contract for the Cobre Panama mine, an outcome keenly watched by the global copper market and investors. Cobre Panama is one of the world's biggest and newest copper mines, producing about 1% of global copper supply. "Over the long-term we've invested more than $10 billion in turning the Cobre Panama into a world-class asset," Pascall was quoted as saying. However, Panama's top court in 2017 deemed unconstitutional the law under which First Quantum was operating the mine.

Persons: Tristan Pascall, Pascall, Greta Thunberg, Leonardo Di Caprio, Quantum, Valentine Hilaire, Divya Rajagopal, Denny Thomas, Sonali Paul Organizations: Minerals, REUTERS, Aris, Reuters, First, Central, LatAm, Co, Thomson Locations: Panama, Donoso, Central American, Jiangxi

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