Taxes

Colombia Congress, President OK Tax-Reform Law; Could Boost Business Investment

Medellin Herald December 29, 2016

Colombia’s House and Senate on December 28 voted to approve a wide-ranging tax-reform law, which won immediate approval from President Juan Manuel Santos. The complete text of the new law is available here. The new law is expected to generate an extra COP$6 trillion (US$2 billion) annually

Congresses & Conferences

Medellin Hosts 29th Annual Colombiatex Textiles Show January 24 – 26

Medellin Herald December 28, 2016

Inexmoda — Colombia’s national textile and fashion-industry trade association — on December 20 unveiled details on the upcoming “Colombiatex” textile and fashion-trends show in Medellin January 24-26, 2017. The 29th edition of the annual show – one of the biggest and most important in all of Latin America – is expected to draw some 1,800 […]

Taxes

Expats: You May Still Buy IRA’s, but Beware of Limitations

Medellin Herald December 28, 2016

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. An Individual Retirement Account (IRA) is a popular and smart […]

Companies

Exito, Bancolombia Affiliate FIC Ink US$256 Million Investment Deal in ‘Viva Malls’

Medellin Herald December 28, 2016

Medellin-based retail giant Grupo Exito announced December 27 that Fondo Inmobiliario Colombia (FIC) – partly owned by Medellin banking giant Bancolombia – signed a deal whereby FIC will invest COP$770 billion (US$256 million) in Exito’s “Viva Malls” subsidiary. Viva Malls has 12 commercial malls already operating in Colombia and two nearly complete, with a total […]

Companies

Navelena Achieves Financial Close on Crucial Magdalena River Dredging Project

Medellin Herald December 17, 2016

Cormagdalena – the Colombian government agency overseeing a dredging project for the Magdalena River that would dramatically improve freight movements – announced December 16 that project developer Navelena SAS has at last achieved financial close on the COP$2.5 trillion (US$877 million) “public-private association” (APP in Spanish initials) project. The project had

General News

‘Medellin Como Vamos 2016’ Positive, but Pollution, Traffic, Health Biggest Concerns

Medellin Herald December 7, 2016

The annual “Medellin Como Vamos” (“How Are We Doing?”) citizen survey released December 6 found that most residents are generally positive about living conditions. But pollution, traffic and health services remain as top concerns. Medellin’s air pollution is mainly the result of a huge increase in vehicle traffic combined with large numbers of obsolete,

Companies

Huawei, Astound Expanding High-Tech Jobs, Investments at Ruta N

Medellin Herald December 7, 2016

Medellin’s high-tech development center Ruta N announced December 7 that San Francisco-based web and e-commerce developer Astound Commerce has opened a new office here — and aims to generate 50 to 100 new programming jobs over the next 12 months. Astound’s total investment at Ruta N is estimated at US$1.5 million to US$3 million. The […]

General News

ANI Announces Completion of La Pintada-Medellin Highway Upgrades

Medellin Herald December 5, 2016

Colombia’s national infrastructure agency (Agencia Nacional de Infraestructura, ANI) announced December 5 that upgrades to the existing, two-lane highway between the southern Medellin suburb of Primavera and the municipality of La Pintada (adjacent to the Cauca River) have now been completed. This 54-kilometers-long upgrade — part of the “Conexion Pacifico 2” highway

Expat Businesses

Boosting Organic Panela Exports from Antioquia: U.S. Expat Charts New Course

Medellin Herald December 2, 2016

U.S. expat Scott Unkefer – a former Coloradan and Floridian but now living in Medellin – is cranking-up novel projects that aim to expand production and exports of organic panela from Antioquia to U.S. and Canadian specialty food-and-beverage markets. Panela (unrefined brown sugar) is well-known in Colombia and elsewhere in Latin America – with Colombia […]

Companies

Responsible Mining: Continental Gold Wins Crucial Enviromental Permit

Medellin Herald December 2, 2016

Canada-based Continental Gold announced November 30 that it finally won a crucial environmental permit that paves the way for a US$600 million gold-mining development project at Buritica, Antioquia. Once industrial-scale production starts in 2019, the mine and upgrading plant would produce an average of 253,000 ounces of gold per year over a projected 14-year mine […]