Prime Minister Sigmundur Davíð Gunnlaugsson, elected after the 2008 banking collapse in Iceland, had pledged to clean up corruption in the banking system. But when Sigmundur Davíð took his seat he did not disclose his 50% interest of Wintris, a company that owned bonds of one of the bankrupt banks, nor divest himself of it, until the day before a new law took effect on January 1, 2010 that would have required him to declare this conflict of interest. He sold his share to his wife, who owns the other half.[195] The couple both come from wealthy families. When they bought Wintris he was working as a journalist and she is an anthropologist. Until his failure to disclose the asset, he apparently broke no laws. But the country remembers the 2008 financial crisis all too well and thought it had put it in the past.[196] Since Sigmundur Davíð negotiated on behalf of Iceland with creditors of failed Icelandic banks, the discovery that Sigmundur Davíð's wife is a bondholder caused so much outrage that 22,000–24,000 people attended an anti-government protest outside the parliament on April 4, 2016, almost 8% of the population.[197] Sigmundur Davíð suggested a snap election,[198] but the other members of the coalition government did not want elections, just his resignation. On April 5, 2016, Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson announced his resignation.[199][200]
These companies were registered in Panama, according to the documents obtained from Panama Registry of Companies.[328] A one of them, Fargate Mining Corporation was founded by Tagiva Management Ltd., Tagiva Services Ltd. and Verda Management Ltd. They issued the General Power of Attorney granted in favour of Azerbaijan-born individual Mr. Nasib Hasanov.[329] Later, Londex Resources S.A., Globex International LLP, Fargate Mining Corporation and Willy&Meyris S.A. had been registered again at St. Kitts and Nevis with same addresses.[330] It already used for registering other offshore energy holding – The Nobel Oil Ltd., partner of the state oil company SOCAR in Azerbaijan over Umid gas field. Founder of Nobel Oil Group also is Mr. N. Hasanov.
A central spine of mountain ranges extends almost the entire length of Panama, dividing the country into Atlantic- and Pacific-facing slopes. The two principal ranges, the Tabasará Mountains (Cordillera Central) in the west and the Cordillera de San Blas in the east, are separated near the centre of the country by a saddle of lower land. This depression (the Panama Canal site) divides the country again—roughly into western and eastern halves. Of the four quadrants thus formed, the southwestern has the largest number of settlements; however, the environs of the canal account for most of Panama’s population and commerce. The country’s highest peak is an inactive volcano, Barú (Chiriquí), which reaches an elevation of 11,401 feet (3,475 metres).
More than 500 banks registered nearly 15,600 shell companies with Mossack Fonseca, with HSBC and its affiliates accounting for more than 2,300 of the total. Dexia and J. Safra Sarasin of Luxembourg, Credit Suisse from the Channel Islands and the Swiss UBS each requested at least 500 offshore companies for their clients.[107] An HSBC spokesman said, "The allegations are historical, in some cases dating back 20 years, predating our significant, well-publicized reforms implemented over the last few years."[111]
Panama's tropical environment supports an abundance of plants. Forests dominate, interrupted in places by grasslands, scrub, and crops. Although nearly 40% of Panama is still wooded, deforestation is a continuing threat to the rain-drenched woodlands. Tree cover has been reduced by more than 50 percent since the 1940s. Subsistence farming, widely practised from the northeastern jungles to the southwestern grasslands, consists largely of corn, bean, and tuber plots. Mangrove swamps occur along parts of both coasts, with banana plantations occupying deltas near Costa Rica. In many places, a multi-canopied rain forest abuts the swamp on one side of the country and extends to the lower reaches of slopes on the other.
Minister of Industry and Mines Abdeslam Bouchouareb has been sole owner of a Panamanian-registered offshore company known as Royal Arrival Corp since 2015. The company, active in Turkey, Great Britain and Algeria, is managed through Compagnie d'Etude et de Conseil (CEC), based in Luxembourg, and has an account in the Swiss NBAD Private Bank. CEC confirmed the ownership of Royal Arrival and said it managed the minister's inherited assets with transparency.[438]
As the economic and financial center of the country, Panama City's economy is service-based, heavily weighted toward banking, commerce, and tourism.[14] The economy depends significantly on trade and shipping activities associated with the Panama Canal and port facilities located in Balboa. Panama's status as a convergence zone for capital from around the world due to the canal helped the city establish itself as a prime location for offshore banking and tax planning. Consequently, the economy has relied on accountants and lawyers who help global corporations navigate the regulatory landscape.[15] The city has benefited from significant economic growth in recent years, mainly due to the ongoing expansion of the Panama Canal, an increase in real estate investment, and a relatively stable banking sector.[16] There are around eighty banks in the city, at least fifteen of which are local.

Former Secretary of State and 2016 Democratic presidential candidate Hillary Clinton condemned "outrageous tax havens and loopholes ... in Panama and elsewhere"[423] at a Pennsylvania AFL–CIO event. Clinton added that "some of this behavior is clearly against the law, and everyone who violates the law anywhere should be held accountable", but it was "scandalous how much is actually legal".[423] Clinton promised that "We are going after all these scams and make sure everyone pays their fair share here in America."[423]
ICIJ partner Ouestaf.com was able to establish through the Panama Papers the existence of secret contracts between and DP World FZE (DP)and Mamadou Pouye, the bribery codefendant of Karim Wade, son of former prime minister Abdoulaye Wade. This information was not available at their trial; Ouestaf confirmed their financial ties to the corporation for the first time during the Panama Papers investigation.[20] Wade was sentenced in 2015 to a six-year prison term by the Cour de répression de l'enrichissement illicite (Crei), a specialized anti-corruption court.[20] Wade was accused of illegally amassing assets of more than $240 million; and his childhood friend Pouye was sentenced to five years for allegedly helping him.[20] Both denied wrongdoing and the United Nations and Amnesty International said their rights had been violated at trial.[471] Ouestaf's investigation did not address the legality of their trial. It did conclude that they had succeeded in tracing a payment to Pouye's oversea shell company from a subsidiary of DP.

Throughout the 20th century, Panama City has excelled in boxing, baseball, basketball, and soccer. These sports have produced famous athletes such as Roberto Durán, Rommel Fernández, Rolando Blackman, Julio Dely Valdés, Mariano Rivera, and Rod Carew. Today, these sports have clubs and associations that manage their development in the city. Panama Metro is the city's baseball team. There are boxing training centers in different gyms throughout the city's neighborhoods. There are also many football clubs, such as:

Excellent deep water ports capable of accommodating large VLCC (Very Large Crude Oil Carriers) are located at Charco Azul, Chiriquí (Pacific) and Chiriquí Grande, Bocas del Toro (Atlantic) near Panama's western border with Costa Rica. The Trans-Panama pipeline, running 131 kilometres (81 miles) across the isthmus, has operated between Charco Azul and Chiriquí Grande since 1979.[50]

Many individuals mentioned in the Panama Papers are connected with the world governing body of association football, FIFA, including the former president of CONMEBOL Eugenio Figueredo;[501] former President of UEFA Michel Platini;[502] former secretary general of FIFA Jérôme Valcke;[502] Argentine player for Barcelona Lionel Messi; and, from Italy, the head manager of Metro, Antonio Guglielmi.[501]
ItineraryThis is a typical itinerary for this productStop At: Fort San Lorenzo, Colon, Colon ProvinceThe ruins of San Lorenzo Fort which is famous for repelling attacks by all the pirates of the Caribbean for almost 75 years. Duration: 1 hourStop At: Agua Clara Locks, Colon, Colon ProvinceYou will have the opportunity to see post-Panamax boat transiting the new Canal Locks.Duration: 1 hour
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