Conservative Juan Carlos Varela, the vice president who broke politically with President Ricardo Martinelli, was officially declared Panama's next president.
A widened Panama Canal is expected to bring in some $3.1 billion per year, considerably less than earlier estimates, the official responsible for the waterway told AFP.
Work to widen the Panama Canal will resume on Thursday, an official said, two weeks after the huge project was suspended over $1.6 billion in cost overruns.
Panama President Ricardo Martinelli on Monday blamed the Panama Canal's former administrator for the crisis surrounding its massive expansion project -- where work has been halted over a billion-dollar payment dispute.
Panama's president warned Thursday he would visit Europe to force a consortium to drop a threat to suspend expansion work on the Panama Canal, as a row over a $1.6 billion cost overrun escalated.
Many Latin American leaders were no-shows at the opening of the 23rd Ibero-American summit in Panama, revealing the foundering direction of the annual forum.
The Panama Canal Authority announced Thursday that it slapped a $1 million fine on a North Korean cargo ship caught with an undeclared shipment of Cuban weapons in July.
A team of UN experts will head to Panama next week to inspect a North Korean ship impounded last month after the discovery of Cuban missile parts in its cargo.
Panamanian authorities have found two Soviet-era MiG-21 fighter jets aboard a North Korea-flagged ship seized this month as it tried to pass through the Panama Canal after departing from Cuba.
Panama called for UN inspections of missile parts found aboard a North Korea-flagged vessel as it approached the Panama Canal, weapons Cuba later claimed as its own.
Despite public health campaigns, smoking remains the leading avoidable cause of death worldwide, killing almost six million people a year, mostly in low- and middle-income countries.
With jaws of steel that have earned him the nickname "Coconut Peeler," Andres Gardin, at the tender age of 64, is hell-bent on gnawing his way into the Guinness Book of World Records.
Up against the wall in a drought-sparked energy crisis, Panama said Tuesday it would shut high schools and universities for three days, in a desperate bid to reduce power usage.
Spain's Crown Prince Felipe de Borbon on Thursday visited major construction projects in economically-booming Panama on a trip to highlight Spanish investment in the region.