IMF says Colombian Economy ‘ At Turning Point’

“The Colombian economy is at a turning point, recovering from a combination of external and domestic shocks since 2014 that lowered growth and increased inflation and the external deficit,” says the concluding statement from...

UK-Based United Insurance Brokers Launches Colombian Retail Operation

London-based re/insurance broker United Insurance Brokers (UIB) has launched a retail broking business in Colombia. The new company, UIB Seguros will be headed by CEO, Yolanda Guerra, reporting directly to Tony Dilley, CEO of...

Colombia Aims to Remove Three Zeros From Peso Bills

Colombian authorities want the face value of 500-peso coins to be slashed to 50 centavos, while the minimum wage would be reduced from 781,242 pesos to 781. A drastic reduction in the values of change,...

Moody’s Affirms Baa2 Credit Rating for Colombia but Lowers Outlook to Negative

Big three credit rating agency Moody’s Investors Services today affirmed it Baa2 sovereign rating for Colombia but lowered its outlook from stable to negative. The key reasons listed for the negative outlook are uncertainty surrounding...

Ecopetrol Adds 2,800 Barrels Per Day to Oil Production with Three New Wells

State-controlled Colombian oil company Ecopetrol has confirmed three new successful wells in northwest Colombia, the Bogotá-based firm announced this week. The wells are held jointly with U.S.-based Occidental Petroleum Corp. (Oxy) and have reached a...

Banco Colpatria (Spanish only), a division of Scotiabank Colombia SA, last week acquired the small-business and consumer operations, including credit cards, of Citibank Colombia, for an undisclosed amount. Assuming the transaction is approved, Colpatria will...

Canadian Capital Fuels Colombian Cannabis Boom

(Ozy.com) Decades have passed since the bulk of marijuana cultivation in the Americas shifted from Colombia up to Mexico. But the tides are turning again. This time, suited businesspeople, not drug cartels, are betting...

Court Rules Against Uber and its 83,000 Drivers

Colombia’s Constitutional Court has ruled against Uber with a verdict that affects 83,000 drivers affiliated to the technology platform. The decision follows a similar ruling last December by the European Court of Justice (ECJ)...

Low Productivity: the Elephant in the Room in Colombia’s Minimum Wage Debate

Negotiations on the minimum wage in Colombia are fast approaching. On the one hand, unions will demand an increase above inflation to safeguard their purchasing power, which has been badly hit by the recent...

Colombia’s Coffee Output, Exports To Hit 25-year High

Colombia’s recovery in coffee output, and exports, will progress faster than had been thought this season, US officials said – but on an assumption of “normal” weather, even as ideas of La Niña grow. The...

Colombia: Is Cocoa The New Cocaine?

38,000 Colombian families will now work together as a new company called María del Campo, which will operate under a similar business model of that of coffee growers. The long-term project will be based out...

Canada, Australia, New Zealand, Singapore Begin Free-Trade Negotiations with Pacific Alliance in Colombia

On Monday, in the city of Cali, Canada began the first round of formal negotiations to forge a free-trade agreement with the Pacific Alliance. Along with three other nations — Australia, New Zealand, and...

Avianca In A Battle For Supremacy Of South America’s Skies

Over the past couple of decades, consolidation and bankruptcies have reshaped the airline industry in North America. Historic brands such as TWA, Continental, Northwest, and US Air have gone away, with new ones like...

Colombia’s President Santos Admits that His Government Has Run out of Money

The Colombian Federation of Education Workers began a strike this week in hopes of improving wages and bonuses for educators, but Colombia President Juan Manuel Santos said he doesn’t approve. Trade union members said that...

Banco de Bogotá launchs chain of supermarket mini-branches

  Banco de Bogotá has partnered with Colombian supermarket chain La 14 to install correspondent banking locations within its stores. Each point of service, known locally as a “corresponsal,” will serve as mini-branch that allows customers to make payments, withdrawals, deposits,...

Trump ‘Aims To Slash Aid to Colombia’

  US President Donald Trump has proposed US Congress to cut economic aid to Colombia by 21.1% from $133 million to $105 million, according to Foreign Policy magazine. While this would be a sizable cut, it would...

Cali and Bogota Rank Among Top Five Places to Buy Real Estate Overseas

TODAY COLOMBIA - In its annual outlook, a Panama-based publication recently ranked the best global locations to buy real estate this year, and two of the largest cities in Colombia — the “irresistible” Cali...

LATEST

IMF says Colombian Economy ‘ At Turning Point’

“The Colombian economy is at a turning point, recovering from a combination of external and domestic shocks since 2014 that lowered growth and increased...

Narco cryptocurrency laundering network busted in Spain

Spain said Monday it has shut down a complex cryptocurrency network that used digital currency to pay for shipments of cocaine from Colombia to...

One of the last living witnesses against Uribe survives two assassination attempts

Colombia’s Supreme Court ordered increased protection for one of the last living witnesses in a criminal case over the violence-ridden past of former President...

UK-Based United Insurance Brokers Launches Colombian Retail Operation

London-based re/insurance broker United Insurance Brokers (UIB) has launched a retail broking business in Colombia. The new company, UIB Seguros will be headed by...

Only Women and Children Live in This War-Torn Villa

In Colombia’s mountainous northwest, three hours’ walk from the closest town over paths haunted by guerrillas, lies the village of La Puria. It’s home...

Colombia To Formalize Land Rights of 2.5 Million Peasants

Colombia President Juan Manuel Santos signed a landmark decree that would formalize the land ownership of 2.5 million farmers. The new mandate will allow peasants...

Colombian Oil Spill Kills 2,400 Animals, 70 Families Treated

The effects of this month’s massive oil spill in a major Colombian river are becoming more evident. "I have almost nothing to eat. The entire...

High expectations for Colombia’s medical cannabis reveal experts

Marijuana. Dope. Pot. Weed. Ganja. These are just some of the slang names of the psychoactive drug from the Cannabis plant stereotyped as the...

Bogotá ranks among world’s most traffic congested cities, says study

In a world deconstructed by mega data, Colombia, once again, makes a list and one we can all relate to – traffic. The 2017...

Colombians Call for Pro-Peace Coalition as Duque Gains in Presidential Polls

Colombian voters are calling for a pro-peace coalition in the run-up to the May 27 presidential elections Ivan Duque, who fought against the peace...