Colombian economy

Foreign Direct Investment Grows in ‘Other’ Sectors as Petroleum, Mining Decline: Banco de la Republica

Medellin Herald April 19, 2016

The latest quarterly report from Colombia’s currency regulator (Banco de la Republica) shows that foreign direct investment (FDI) in petroleum and mining in Colombia during first quarter (1Q) 2016 dropped sharply year-on-year (y-o-y), to US$1.2 billion, from US$3 billion in 1Q 2015. However,

General News

Medellin’s Downtown Olaya Herrera Airport Starts International Executive-Jet Flights

Medellin Herald April 15, 2016

Colombia’s national infrastructure agency (ANI) announced April 14 that just-completed upgrades to Medellin’s downtown Olaya Herrera airport enable the start-up of international executive-jet flights in May 2016 — just before the World Economic Forum (WEF) conference. The airport upgrades (costing COP$21 billion/US$7 million) include a new control tower (30 meters

General News

Colombia Industrial Production Jumps; Medellin Leads Nation in Retail Sales Growth

Medellin Herald April 15, 2016

Colombia’s national statistical agency (DANE) announced April 14 that industrial production jumped 8.2% year-on-year (y-o-y) in February 2016 — the latest month for which statistics are available — versus a 1% y-o-y net decline in industrial output in February 2015. It’s another sign indicating that Colombia is starting to rebound from the global collapse in

Opportunities

Samsung, CorpBanca, Philip Morris, Fortinet, Wipro Seeking Bilingual Execs, Techs for Medellin

Medellin Herald April 13, 2016

An ever-growing list of major international and national companies is on the hunt for bilingual (English-Spanish) executives and technical workers for Medellin. An ever-growing list of major international and national companies is on the hunt for bilingual (English-Spanish) executives and technical workers for Medellin. Among recent Medellin job postings to LinkedIn: 1.

Companies

Argos to Get Bogota’s Used Tires for Antioquia Cement-Plant Combustion Fuel

Medellin Herald April 13, 2016

Medellin-based multinational Grupo Argos announced April 11 that it just signed a deal with Bogotá Mayor Enrique Peñalosa to receive all 2.5 million of Bogotá’s used tires — which will be used as combustion fuel for the Cementos Argos cement plant at Rioclaro, Antioquia. “Cementos Argos uses this [tire combustion] technique in its three cement […]

Colombian economy

Colombia High-Tech Services Ranking Jumps for Foreign Investors: ProColombia

Medellin Herald April 13, 2016

ProColombia – the national government agency promoting foreign trade – announced April 12 that Colombia rose to fifth place in the latest ranking of all 55 nations in the Americas in information technology (IT), software and business process outsourcing (BPO). Citing the latest AT Kearney Global Services Location Index report, “Colombia was the country that

Volunteering

New Jersey Institute of Technology Teams-up with Medellin IT-Student Aspirants

Medellin Herald April 13, 2016

The New Jersey Institute of Technology (NJIT) announced April 12 the debut of a “Capstone” project to link its information technology (IT) students with Medellin and Envigado middle-school and high-school students interested in pursuing IT careers. Three students at NJIT’s College of Computing Sciences’ (CCS) and two students from the New Jersey School of

Companies

EPM 2015 Earnings Rise 14% Year-on-Year; Revenues Up 18%

Medellin Herald April 6, 2016

Medellin-based public utility EPM – now a multinational operating 48 different companies in seven Central American and South American countries – on April 5 presented its full-year 2015 results, showing a 14% hike year-on-year in profits and an 18% jump in revenues. The city of Medellin – the sole owner of EPM — netted COP […]

Colombian economy

Power Rationing Unlikely as Consumers Save, Rains Return, Guatape Mends

Medellin Herald April 5, 2016

Colombia’s Consejo Nacional de Operacion (CNO) – the national advisory body on electric power supply – on April 4 announced that voluntary power reductions by consumers and industry apparently have diminished the threat of power rationing. Following an analysis of encouraging data provided by Medellin-based XM – operator of the national power grid – as […]

Companies

Medellin-Based Grupo Familia 2015 Net Profits Rise 25% Year-on-Year

Medellin Herald April 1, 2016

The board of directors of Medellin-based Grupo Familia – producers and marketers of mainly paper-based personal hygiene products in 20 countries throughout South America and the Caribbean – on March 31 approved the company’s full-year 2015 financial report showing net profits rising nearly 25% year-on-year, to COP$202 billion (US$67 million). Sales volume also rose,