Editorial

Medellin, Antioquia Vote Crushes Autocratic Socialists, Hands Moderate Ivan Duque Presidency of Colombia

Medellin Herald June 18, 2018

By 54% to 42%, moderate conservative Ivan Duque handily defeated socialist-populist Gustavo Petro in the final round of Colombia’s presidential voting June 17, with Medellin and Antioquia providing most of the margin of victory. Both Medellin and Antioquia massively delivered 72% of their votes

General News

Hydroelectricity Now 85.7% of Colombia’s Total Electric Power: XM

Medellin Herald June 13, 2018

The latest monthly study from Medellin-based wholesale electric-power grid operator XM finds that hydroelectric generators now account for 85.7% of all national power generation – confirming Colombia’s enviable status among the “greenest” power generators on Earth. What’s more: Once Medellin-based EPM resolves what today is looking more like a temporary engineering problem

General News

Colombia’s National Engineering Society Sees Possible Solutions to Hidroituango Crisis

Medellin Herald June 7, 2018

The Sociedad Colombiana de Ingenieros — (SCI, the Colombian national association of engineers) — on June 6 announced that several possible solutions are seen arising to overcome the current crisis affecting EPM’s under-construction, 2.4-gigawatt “Hidroituango” hydroelectric dam in Antioquia. The US$5 billion “Hidroituango” project would supply 17%

General News

OECD Affiliation Boosts International Investor Interest in ‘4G’ Highways: ANI

Medellin Herald June 6, 2018

The Colombian national infrastructure agency (Agencia Nacional de Infraestructura, ANI) announced June 6 that thanks to Colombia’s new entrance into the Organization for Economic Cooperation and Development (OECD), 13 major international funding organizations now aim to invest in “fourth generation” (4G) highway projects here. Ten of those organizations are private-equity

General News

Update: Hidroituango Construction Restarts Following Suspension; EPM, XM Publish Worst-Case Scenarios

Medellin Herald May 30, 2018

The threat of possible landslides originating in the mountain above EPM’s under-construction, 2.4-gigawatt “Hidroituango” hydroelectric dam in Antioquia had triggered a temporary suspension and evacuation of workers May 29, pending further technical analysis. However, in a 4 p.m. Wednesday, May 30 press conference, EPM announced that further technical analysis revealed no

Editorial

Moderate Conservative Duque Clear Favorite for Colombian President

Medellin Herald May 28, 2018

In the first round of presidential elections May 27, moderate conservative Ivan Duque of the Centro Democratico party won the plurality of votes (39%) among five candidates. Duque will face socialist-populist candidate Gustavo Petro of the “Colombia Humana” party (25% of first-round votes) in the second-round runoff election on June 17. Duque won in 23 […]

Colombian economy

It’s Official: Colombia Joins OECD, World’s Biggest Free-Market Club of Democracies

Medellin Herald May 25, 2018

The Organization for Economic Cooperation and Development (OECD) – the group of the 37 biggest free-market democracies in the world – announced May 25 that Colombia has now completed all main steps to join the group. Formalization of affiliation will take place May 30 in Paris, when President Juan Manuel Santos and OECD Secretary-General Angel […]

General News

EPM Avoids Catastrophe at Hidroituango Hydropower Project

Medellin Herald May 22, 2018

Medellin-based multinational electric power giant EPM announced 12 pm Thursday, May 24 that it finally reached a crucial safety milestone toward eventual completion of its under-construction, 2.4-gigawatt “Hidroituango” hydroelectric dam on the Cauca River, which had been threatened with possible collapse. Over the past three weeks, EPM hurriedly scrambled to raise the dam

Companies

Grupo Sura 1Q 2018 Profits Drop 23.5% Year-on-Year

Medellin Herald May 18, 2018

Medellin-based insurance, pensions and finance giant Grupo Sura announced May 15 that its first quarter (1Q) 2018 consolidated profit fell 23.5% year-on-year, to COP$310 billion (US$108.5 million). Consolidated revenues for the company also dropped 2.2% year-on-year, to COP$4.76 trillion (US$1.66 billion). Despite the corporate-wide dip in revenues and profits, “positive

Companies

‘E-Commerce’ Specialist Cadena Reports Digital Transformation, 40% EBITDA Growth

Medellin Herald May 18, 2018

Medellin-based e-commerce, logistics, warehouse, document security, billing and customer-communications specialist Cadena announced May 17 that its full-year 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 40% year-on-year, with EBITDA margin at 13.4%. Sales also rose to COP$184 billion (US$63 million), while billings for innovative