Congresses & Conferences

Investment, Convention, Tourism Agencies Teaming-up; Medellin Growth Tops in all Americas

Medellin Herald June 22, 2017

Medellin’s three public agencies charged with promoting foreign investment, conventions and tourism announced in early June that they’ve developed a strategy to coordinate and boost promotional efforts. The Medellin Convention and Visitors Bureau, the Agencia de Cooperación e Inversión de

Colombian economy

Colombia Making ‘Remarkably Smooth Adjustment’ to Economic Shocks: IMF

Medellin Herald June 15, 2017

The International Monetary Fund (IMF) announced in a report issued May 31 that Colombia’s economy is starting to rebound – and it’s performing much better than its neighbors following the oil-price collapse nearly three years ago. As a result, real gross domestic product (GDP) growth would rebound to 2.3% this year, up from 2.0% last […]

General News

Foreign Investment in Medellin Tops US$1.63 Billion, Continues to Grow: ACI

Medellin Herald June 15, 2017

In a June 7 forum organized by Agencia de Cooperación e Inversión de Medellín y el Área Metropolitana (ACI Medellin), ACI director Sergio Escobar revealed that Medellin and its metro area so far have attracted US$1.63 billion in private foreign direct investment (FDI) over the 15-years of ACI’s existence. At the forum, Ambassadors to Colombia […]

General News

Colombia’s ‘Como Vamos’ Quality-of-Life Surveys: Medellin Best, Bogota Worst

Medellin Herald May 26, 2017

The just-released report from the Colombian national “Como Vamos” (“How are we Doing?”) network of citizen surveys finds that Medellin is perceived as best among major cities for over-all quality of life, while Bogota is worst. The face-to-face surveys of 14,649 men and women over 18 years of age in households ranging from poorest (“estrato […]

Companies

Wall Street Rewards Nutresa with ‘AAA(col)’ Bond Rating

Medellin Herald May 25, 2017

Medellin-based multinational foods giant Grupo Nutresa announced May 19 that it won an “AAA(col)” rating from Wall Street bond rater Fitch thanks to its “strong competitive position in its relevant markets” as well as moderate leverage, geographic diversification and “robust” cash flow “across the business cycle.” “The company’s competitive position and its brand

Companies

Éxito Posts Small Net Loss in 1Q 2017; Brazil Results Improve

Medellin Herald May 25, 2017

Medellin-based multinational grocery retailer Exito on May 16 posted a tiny COP$7.6 million (US$2,600) net loss for first quarter (1Q 2017), down slightly from an even more miniscule COP$760,000 (US$260) net profit in 1Q 2016. However, operating income rose 12.9% year-on-year, to COP$13.5 trillion (US$4.6 billion), while earnings before interest, taxes, depreciation and

Editorial

Medellin to Auschwitz and Back: Universal Lessons on Holocausts, Rebirth, Renewal

Medellin Herald May 24, 2017

The people of Medellin, the surrounding Antioquia department and all of Colombia have been the victims of a 60-years-long civil war — provoked mainly by communist guerillas — that has resulted in more than 220,000 documented assassinations, thousands of kidnappings, forcible displacement of more than 6 million, massive narco-trafficking, and a consequent

Companies

EPM 1Q 2017 Net Income Jumps 460% Year-on-Year

Medellin Herald April 28, 2017

Empresas Publicas de Medellin (EPM) – now a multinational electric power, water, sewer and natural-gas utility – announced April 27 that its first quarter (1Q) 2017 net income soared 460% year-on-year, to COP$606 billion (US$206 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 98% year-on-year, to COP$1.1 trillion (US$374

General News

Hidroituango Wins Crucial Transmission Permit: Huge Boost for Medellin, Antioquia

Medellin Herald April 25, 2017

The departmental government of Antioquia announced April 24 that the US$5.5 billion, 2.4-gigawatt “Hidroituango” hydroelectric project finally has won the first two of four power-transmission construction permits from Colombia’s environmental licensing agency (ANLA). The remaining two permits are expected to be issued next month (May 2017), according to Instituto para el

Companies

Cormagdalena Cancels Navelena Contract; Magdalena River Dredging Up for Grabs

Medellin Herald April 18, 2017

Cormagdalena – the Colombian government agency overseeing a massive dredging project for the Magdalena River – announced April 17 that it has officially cancelled Navelena SAS’s contract because of failure to complete financing. The proposed COP$2.5 trillion (US$877 million) project would dramatically improve freight movements along the Magdalena River, making industrial