Panama's reputation as a world-class financial hub is being torn apart from the double scandals of the Panama Papers and now the U.S. designating one of its most prominent families as top money launderers for drug cartels.
"This is like a magnitude-10 earthquake for Panama's economic system and society, but it shouldn't be a surprise," said Miguel Antonio Bernal, a professor in constitutional law at the University of Panama.Full Story
U.S. energy giant Chevron has lost thousands of barrels worth of oil production capacity since militants blew up an offshore platform in Nigeria in renewed violence that could hit exports from Africa's largest oil producer, the company said.
"Approximately 35,000 barrels per day (bpd) of Chevron's net crude oil production in Nigeria are impacted," company spokeswoman Isabel Ordonez said in a statement late Friday.Full Story
It was hot, and Carlos Dapen had spent several hours looking for a pharmacy that had his wife's medication, which has become as scarce as most groceries in crisis-hit Venezuela.
All he wanted now was a nice cold beer.Full Story
Nearly two thirds of French people say they don't trust the government to defend the country's interests in negotiations on a vast new EU-U.S. trade deal, a poll published Friday showed.Full Story
World oil prices slumped this week, retreating from 2016 highs, as the dollar rebounded and supply glut concerns returned to the fore despite disruptions to global production.Full Story
Nigeria's President Muhammadu Buhari on Friday signed into law the 2016 federal budget after months of delay caused by mistakes and discrepancies in the original spending plan.Full Story
Greece's public transport networks ground to a halt Friday after trade unions called for a 48-hour strike to protest controversial government plans to overhaul pensions and increase taxes, as demanded by international creditors.Full Story
Saudi authorities have allowed construction giant Binladin Group to tender for public building projects in the kingdom again, local media reported, just days after the firm reportedly laid off 77,000 foreign workers.Full Story
The Turkish lira remained under pressure Thursday as political uncertainty rattled investors after it emerged Prime Minister Ahmet Davutoglu is set to step down in a move giving President Recep Tayyip Erdogan even more power.
The lira lost almost 4 percent in value against the dollar on Wednesday -- its heaviest daily loss this year -- as news broke that crisis talks between Davutoglu and Erdogan had failed to resolve tensions between the two men.Full Story
The dollar strengthened against the yen in Asia Thursday as upbeat U.S. data and speculation of a Japanese intervention helped cement gains from talk of a Federal Reserve interest rate hike next month.
After dipping to an 18-month low around 105.50 yen on Tuesday, the greenback has enjoyed a minor rally in the past two days after two of the U.S. central bank's regional heads raised the possibility of tighter borrowing costs.Full Story