Of Panama’s many short rivers, those that flow to the Caribbean include the Sixaola, Changuinola, Indio, Cricamola, La Miel, and Chagres. Rivers flowing to the Pacific include the Chiriquí Viejo, Santa María, Chepo, Chucunaque, and Tuira. During the rainy season the Tuira is navigable for some 40 miles (60 km) and the Chepo for 20 miles (30 km). Water in the Panama Canal does not flow from coast to coast; rather, it is released from the rain-fed Gatún and Alajuela (Madden) lakes in the central highlands. In effect, the water flows to both coasts simultaneously via the canal’s system of locks and dams. For details on the engineering and operation of the waterway, see Panama Canal.
During the 16th century, education in Panama was provided by Jesuits. Public education began as a national and governmental institution in 1903. The principle underlying the early education system was that children should receive different types of education in accordance with their social class and therefore the position they were expected to occupy in society.
The urban population, many living below the poverty level, was greatly affected by the 1989 intervention. As pointed out in 1995 by a UN Technical Assistance Mission to Panama, the bombardments during the invasion displaced 20,000 people. The most heavily affected district was impoverished El Chorrillo, where several blocks of apartments were completely destroyed. El Chorrillo had been built in the days of Canal construction, a series of wooden barracks which easily caught fire under the United States attack. The economic damage caused by the intervention has been estimated between 1.5 and 2 billion dollars. n.p. Most Panamanians supported the intervention.
DCB Finance, a Virgin Islands-based shell company founded by North Korean banker Kim Chol-sam and British banker Nigel Cowie, also ignored international sanctions and continued to do business with North Korea with the help of the Panamanian firm. The US Treasury Department in 2013 called DCB Finance a front company for Daedong Credit Bank and announced sanctions against both companies for providing banking services to North Korean arms dealer Korea Mining and Development Trading Corporation, attempting to evade sanctions against that country, and helping to sell arms and expand North Korea's nuclear weapons programme. Cowie said the holding company was used for legitimate business and he was not aware of illicit transactions.
Putin's name does not appear in any of the records released to date, but those of his associates do. Construction billionaires Arkady and Boris Rotenberg, musician Sergei Roldugin and business magnate Alisher Usmanov are mentioned in the leaked documents, as are Putin's long-standing friend, billionaire Gennady Timchenko, as well as his press secretary's spouse, his cousin, and former KGB colleagues, as well as several oligarchs connected to Mossack Fonseca shell companies.
In 1501 Rodrigo de Bastidas of Spain landed on the Caribbean side, discovering the Americas. Just a short 18 years later, 1500 Spanish settlers had established the oldest European settlement on the Pacific Coast of the Americas in what was called Panama Viejo, near the current Panama City. Finding that the two oceans were not far apart, conquistadors began transporting goods from the Caribbean side to the Pacific side in what became known as the El Camino Real or Royal Trail. This enabled two-way traffic of carts carrying treasures to go from sea to sea. In 1671 the famous pirate Henry Morgan burned down the original Panama City.
Sri Lankan Finance Minister Ravi Karunanayake said his panel will investigate Sri Lankan names that come up in the Panama Papers, as well as the 46 who appear in the 2013 Offshore Leaks, according to the Daily Mail, since earlier leadership apparently did not do so. The country has many large outstanding foreign loans taken out under the administration of former president Mahinda Rajapakse, and the current government recently had to obtain a US$1.5 billion IMF bailout. Rajapakse has denied diverting funds. The current government came to power in January 2016 on an anti-corruption platform.
He said the firm was the victim of a hack and that he had no responsibility for what clients did with the offshore companies that they purchased from Mossack Fonseca, which were legal under Panamanian law. Later that day, the Independent Movement (MOVIN)[note 1] called for calm, and expressed hope that the Panamanian justice system would not allow the culprits to go with impunity.
Every Ramadan he fed 500 people; he financed about 20 pilgrimages to Mecca every year. Described as a billionaire, Seydou Kane holds diplomatic passports from Senegal, Gabon and Mali. The protocol officer of the Senegalese Embassy in Paris was waiting for him when his plane landed at Roissy-Charles-de-Gaulle in November 2015. But Kane, a close associate of the Gabonese ruling family, was questioned and jailed in Nanterre for ten hours by anti-corruption agents in connection with an investigation opened in July 2007.
The city proper has approximately 880,691 inhabitants in 23 boroughs. The inhabitants of Panama City are commonly referred to as capitalinos and include large numbers of Afro-Panamanians, mestizos, and mulattos, with notable white and Asian minorities. There is a great deal of cultural diversity within the city, which manifests itself in the wide variety of languages commonly spoken, such as German, Portuguese, French, Arabic, Chinese, Hebrew and English, in addition to Spanish.
"The most obvious use of offshore financial centers is to avoid taxes", The Economist added. Oxfam blamed tax havens in its 2016 annual report on income inequality for much of the widening gap between rich and poor. "Tax havens are at the core of a global system that allows large corporations and wealthy individuals to avoid paying their fair share," said Raymond C. Offenheiser, president of Oxfam America, "depriving governments, rich and poor, of the resources they need to provide vital public services and tackle rising inequality."
The Isthmus of Panama was formed about three million years ago when the land bridge between North and South America finally became complete, and plants and animals gradually crossed it in both directions. The existence of the isthmus affected the dispersal of people, agriculture and technology throughout the American continent from the appearance of the first hunters and collectors to the era of villages and cities.
National elections are universal and mandatory for all citizens 18 years and older. National elections for the executive and legislative branches take place every five years. Members of the judicial branch (justices) are appointed by the head of state. Panama's National Assembly is elected by proportional representation in fixed electoral districts, so many smaller parties are represented. Presidential elections requires a simple majority; out of the five last presidents only ex-president Ricardo Martinelli has managed to be elected with over 50 percent of the popular vote.
Steinmetz, who has a personal fortune of $6 billion, supplies diamonds to Tiffany and DeBeers and is Sierra Leone's largest private investor. Yet, according to a detailed report in The Namibian, his Octea subsidiary owes, among other debts, property taxes of $700,000 to the city of Koidu. These unpaid taxes are discounted, according to mayor Saa Emerson Lamina, because Octea promised a 5% profit−sharing agreement, and payment 1% of its annual profit to a community development fund, but it did not do this either.