General News

Navelena Faces February 22 Deadline to Re-Finance Magdalena Dredging Project

Medellin Herald February 2, 2017

Cormagdalena – the Colombian government agency overseeing a proposed dredging project that would dramatically improve freight movements on the Magdalena River – announced January 31 that project developer Navelena now faces a February 22 deadline to present a new financing scheme. The agency

Taxes

Expat Taxes for USA 2016 Tax Year: Avoid Confusion

Medellin Herald February 1, 2017

Editor’s Note: The following column was written by IRS enrolled agent and chartered financial analyst (CFA) John Ohe of Hola Expat Tax Services. Medellin Herald does not specifically endorse the author’s opinion; this column is for general information only and should not be construed as personal tax advice. There is a lot of confusion among US expats […]

Profiles

Bringing Light to the World, ‘Smart’ Investment to Colombia: Chagai Stern

Medellin Herald February 1, 2017

Thirty-six-year-old Israeli expat Chagai Stern came to Medellin three years ago, riding a comet that has carried him to the heights of fame, fortune and friendships with some of the world’s biggest movers-and-shakers. Now, together with a New York partner, he’s putting part of his fortune and friendships to work for the advancement of Colombian […]

Congresses & Conferences

Colombiatex 2017 Breaks Records; US$326 Million in Deals Seen

Medellin Herald January 26, 2017

Medellin-based national textile and fashion industry trade association Inexmoda announced January 26 that the 2017 edition of the just-completed Colombiatex trade show resulted in US$326 million in business deals – up 4% year-on-year. The biggest business deals at Medellin’s Plaza Mayor trade-show center involved buyers from the United States, Ecuador, Mexico, Peru,

Companies

Colombian Agency OK’s US$102 Million for ‘Vias del Nus’ Highways in Antioquia

Medellin Herald January 25, 2017

Colombia’s national finance agency (Financiera de Desarollo Nacional, FDN) announced January 25 that it approved a COP$300 billion (US$102 million) provisional credit for the under-development “Vias del Nus” highway project linking Medellin northward to the Rio Magdalena and then connecting to key Caribbean ports including Cartagena and Barranquilla. The “Vias del Nus”

Congresses & Conferences

Plaza Mayor to Host 600 Events in 2017; Upgrades Boost Image

Medellin Herald January 24, 2017

Plaza Mayor convention center management announced January 20 that they will host more than 600 international and national events in 2017, while recent infrastructure upgrades will help show-off Medellin’s increasingly popular business-tourism opportunities. According to Juan David Pérez Ortiz, general manager of Plaza Mayor, the city of Medellin recently invested more

Colombian economy

IMF, World Bank Foresee 2.6%/2.5% GDP Growth for Colombia in 2017

Medellin Herald January 23, 2017

The International Monetary Fund (IMF) and the World Bank this month issued nearly identical 2.6% and 2.5% growth projections for Colombia gross domestic product (GDP) in 2017. According to the IMF forecast – divulged in a new report on Latin American economies – Colombia’s 2.6% growth rate projection for 2017 is more than three-times the 0.8% growth […]

General News

Medellin-Bogota Highway Finally Reopened; ‘Mar 2’ Gets Financial Close

Medellin Herald January 17, 2017

Medellin’s decades-long battle to overcome logistical isolation from world markets took two more steps this month as highway concessionaire Devimed partially cleared a huge landslide blocking the Medellin-Bogota highway — and the crucial “Mar 2” project linking Medellin to Atlantic ports also finally got its financial close. According to Devimed, construction crews

Companies

Corona Launches Construction of Big Cement Plant in Antioquia

Medellin Herald January 11, 2017

Colombia-based multinational ceramic-products maker and basic materials producer Corona announced January 10 the launch of construction on a 1.35 million tonnes/year cement and 3,150 tonnes/day clinker plant at Sonson, Antioquia, about 50 kilometers east of Medellin. Corona and Spain-based partner Cementos Molins are putting US$238 million into project via a new joint

Health & Insurance.

Medellin, Colombia International-Health Sectors Seen Growing in 2017

Medellin Herald January 3, 2017

Editor’s Note: The following article — originally authored in Spanish by Colombia Ministry of Health economist Jhon Gonzalez Lindarte — is reprinted by special permission granted to Medellin Herald by El Pulso, the monthly newsletter published by Medellin-based San Vicente Fundacion. Despite the current panorama of financial troubles in Colombia’s