The International Monetary Fund (IMF) on April 30 announced that it foresees 2.7% growth in Colombia’s gross domestic product (GDP) this year. In its latest annual “executive board” report
Medellin-based multinational foods giant Grupo Nutresa announced April 27 that its first quarter (1Q) 2018 net profits fell 13.1% year-on-year, to COP$121 billion (US$43 million). The profit dip “is mainly explained by not accounting a portion of the dividends from our investment portfolio during the period, COP$26 billion [US$9.3 million], which will be registered during
Medellin’s First-Ever Congress of Junior Ornithology Students: Impressive Growth, Wider Appreciation
Just as Medellin pioneered the development of Colombian wild-bird study and conservation via the founding of Sociedad Antioqueña de Ornitologia (SAO) nearly 35 years ago, now the city can boast of hosting the first-ever congress of junior ornithology students. In the April 19 event at Medellin’s Colegio Montessori, some 70 students from four local schools […]
Medellin-based multinational electric power giant EPM announced April 18 the launch of a novel floating solar photovoltaic (PV) power generation scheme at El Peñol lake, adjacent to the company’s 560-megawatt Guatape hydroelectric power station in Antioquia. The floating PV station will be the first of its kind in Spanish-speaking Latin America, according to EPM. The […]
Medellin-based national electric-power grid operator and power-trading center XM announced April 17 that power demand in Colombia is up 3% year-on-year through first-quarter (1Q) 2018, compared to a 1.8% net year-on-year decline in 1Q 2017. Over the last 12 months through March 2018, Colombian power demand is up 2.5%, whereas power demand actually fell 1.5% […]
Colombia’s Agencia Nacional de Infraestructura (ANI, the national infrastructure development agency) announced April 11 the successful relaunch of rail freight transport on a 522-kilometers-long line aiming to link Atlantic ports to the interior — passing through Antioquia on the way. ANI spent COP$212 billion (US$78 million) on the rail-line rehab project, aiming to
Medellin-based multinational utilities giant EPM on April 7 presented highlights of 2017 results including impressive growth in profitability along with expansion of water, power, garbage-collection, sewer and natural-gas services to thousands more customers in the metro area. In a press conference, EPM general manager Jorge Londoño de la Cuesta and Medellin Mayor Federico
Canada-based multinationals Gran Colombia Gold (GCC) and Red Eagle Mining (REM) in late March both reported progress in their gold mining operations here in Antioquia during 2017. For GCC, adjusted net income for fourth quarter (4Q) 2017 nearly tripled, to US$9.1 million, from US$3.4 million in 4Q 2016. Similarly, for full-year 2017, GCC’s adjusted net […]
Medellin-based multinational personal-hygiene products manufacturer Grupo Familia announced March 23 that its full-year 2017 consolidated net income more than doubled year-on-year, to COP$231 billion (US$81 million). Operating income also rose 75% year-on-year, to COP$343 billion (US$120 million), according to the company. Gross income rose slightly (just under 2%)
Medellin-based textile manufacturer Fabricato announced March 21 its that full-year 2017 net loss grew to COP$6.4 billion (US$2.2 million), down from a COP$845 million (US$295,000) net loss in 2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell to a negative COP$3.2 billion (US$1.1 million) , down from a positive COP$26.9 billion (US$9.4
