Companies

Cementos Argos First-Half 2017 EBITDA Drops 26% Year-on-Year, but 2Q Rebounds

Medellin Herald August 14, 2017

Medellin-based multinational cement giant Cementos Argos reported August 11 that its first-half (1H) 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) fell 26% year-on-year, to COP$641 billion (US$216 million). Revenues dipped 4% year-on-year, to COP$4.2 trillion

Health & Insurance.

Suramericana, Sanitas, Aliansalud: Top 3 ‘EPS’ Health-Insurance Networks in Colombia

Medellin Herald August 14, 2017

A new study by Colombia’s health ministry (Ministerio de Salud) found that Suramericana EPS, Sanitas EPS and Aliansalud EPS were rated the top-three health insurance network providers by patients in the “contributory” (user-pays, employer-pays) “Entidades Prestadoras de Salud” (EPS) health-coverage sector. However, the study didn’t cover health-care consumers in the

Events

Pope Francisco Visit to Medellin: Olaya Herrera Airport to Shut for a Week

Medellin Herald August 11, 2017

Medellin’s downtown Olaya Herrera airport will eliminate all flights from September 4 through September 10 to accommodate enormous crowds expected for Mass ceremonies for Pope Francisco’s visit. According to the official press statement from Olaya Herrera airport management, all flights that normally would arrive and depart from the downtown airport instead will be

Companies

Bancolombia 2Q 2017 Profits Rise 7% over 1Q 2017

Medellin Herald August 10, 2017

Medellin-based banking giant Bancolombia announced August 9 that its second-quarter (2Q) 2017 profits rose 7% over first-quarter 2017, to COP$654 billion (US$223 million). Meanwhile, Bancolombia’s 2Q 2017 gross portfolio grew 8.5% year-on-year, to US$52 billion, with 27% of the total corresponding to its international businesses represented in Banistmo (Panama), Banco

Companies

Fabricato 1H 2017 Sales, EBITDA Decline Year-on-Year; Net Income Rises

Medellin Herald August 10, 2017

Medellin-based textiles giant Fabricato announced August 10 that its first-half (1H) 2017 sales fell 5.6% year-on-year, to COP$90.8 billion (US$30 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) margin fell by more than half, to 2.7%. On the up-side, Fabricato recorded a COP$45 billion (US$15 million) gain on the transfer of its 70%

Companies

USAID Helping Illegal Miners to Legalize; Many Still Balk; Some Promote Violence

Medellin Herald August 9, 2017

The U.S. Agency for International Development (USAID) announced August 8 that its “Oro Legal” program has already helped 205 miners and 176 informal/illegal gold-mining families in Antioquia convert to safer, legal mining – with many more miners targeted for help by 2020. Working with the departmental government of Antioquia, “Oro Legal” projects (and the “Bioredd” […]

Culture

Annual Flower Festival Once Again Brings Joy, Beauty, Tourism to Medellin

Medellin Herald August 8, 2017

The just-concluded, 60th annual “Desfile de Silleteros” (flower-carriers’ parade) – the culmination of the 10-days-long “Feria de las Flores” (flower festival) – once again showed-off Medellin’s growing attraction for global tourists and an enticement for foreign investment and relocation. This year, John Jairo Grajales Gómez of the “El Porvenir” neighborhood in Medellin’s

Ecotourism

Antioquia’s Private Nature Reserves Growing: Colombians, Expats Teaming-up

Medellin Herald August 5, 2017

Among the encouraging signs of Colombia’s and Antioquia’s recuperating economy, environment and security situation is a growing network of private nature reserves – overwhelmingly founded by native Colombians, but now including a few “rare-bird” expats. One such rare-bird migrant is North American-born biologist and construction contractor Doug Knapp, who two years ago

Schools

Top Bilingual Primary Schools in Metro Medellin Now Offer Ornithology Studies

Medellin Herald August 3, 2017

Bird-watching in decades past may have been considered the province of biologists and eccentrics. But it’s becoming an ever-more-popular pathway for appreciating, enjoying and defending the incredible beauty of nature. Now, two of metro-Medellin’s top bilingual prep schools – Colegio Theodoro Hertzl (CTH, see earlier Medellin Herald report on 08/24/2015) and

Companies

Violence Slams Legitimate Canadian Gold Miners in Antioquia

Medellin Herald August 1, 2017

Toronto, Canada-based Continental Gold announced July 29 that six of its security contractors died following a suspicious explosion July 28 at an illegal mine nearby its Buritica, Antioquia gold mine. Just three days later, fellow Toronto-based miner Gran Colombia Gold announced August 1 that it is trying to deal with a massive outbreak of violence […]