News Briefs 71
Toronto, Canada-based PharmaCielo announced June 28 that it won a manufacturing license from Colombia’s Ministry of Health and Social Protection to process marijuana plants for “medical and scientific purposes.”
Colombia President Juan Manuel Santos and Fuerzas Armadas Revolucionarias de Colombia (FARC) leader Timoleon (“Timochenko”) Jimenez formally signed a cease-fire agreement June 23 in Havana, Cuba, a key step before any final “peace agreement” deal would be signed.
Colombia’s gross domestic product (“PIB” in Spanish initials) dipped to a 2.5% annual rate in first quarter (1Q) 2016, according to the national government’s economic statistics agency (Departamento Administrativo Nacional de Estadística, DANE).
Medellin-based electric power transmission giant ISA and Medellin-based multinational foods producer Grupo Nutresa both recently won debt-ratings upgrades from Wall Street bond rater Fitch Ratings.
Medellin-based Bancolombia – Colombia’s largest bank with a growing international presence – on May 23 announced that its first quarter (1Q) 2016 net income fell 37% year-on-year (y-o-y), to COP$397 billion (US$129 million), reflecting the impact of Colombia’s slowing economy.