Companies

UNE 2015 EBITDA Rises 11%, but IFRS Accounting Triggers Net Loss

Medellin Herald April 1, 2016

Medellin-based telecom giant UNE – formerly owned by public utility EPM but now owned by Sweden-based Millicom – reported a 11% year-on-year rise in 2015 earnings before interest, taxes, depreciation and amortization (EBITDA) to COP$1.4 trillion (US$460 million). Revenue also grew by 7.3%

General News

Cormagdalena Sets May 11 Deadline for Magdalena River Navigation Financing Data

Medellin Herald March 31, 2016

Cormagdalena – the Colombian government agency overseeing a proposed scheme that would restore commercial navigation on the Magdalena River between the Atlantic Ocean and key inland ports – announced March 29 that it has set a May 11 deadline by which dredging-project proponent Navelena SAS must provide crucial documentation required for project finance. The Magdalena […]

General News

Medellin Airports Getting Aircraft Navigation Surveillance Upgrade

Medellin Herald March 31, 2016

Sweden-based high-tech systems provider Saab announced March 30 that downtown Medellin’s Enrique Olaya Herrera Airport (national flights) and the nearby José María Córdova International Airport (international flights originating at Rionegro) will get aircraft navigational upgrades. According to Saab, the company won a contract from Aeronáutica Civil de Colombia (Aerocivil)

General News

Antioquian Inventors Tapped for ‘Colombia Great Inventor’ Prize Competition

Medellin Herald March 31, 2016

Two young inventors from Antioquia — Rafael Vides Mesa and Daniel Cuartas Quiceno — are among 10 national candidates for the “Colombia Great Inventor” prize competition this year. According to cell-phone telecom giant Claro – the “Great Inventor” prize sponsor – the winner of this year’s competition would obtain new funding to help move their […]

Companies

Gran Colombia Gold 2015 EBITDA Improves; Gold-Price Drop Causes Net Loss

Medellin Herald March 31, 2016

Canada-based Gran Colombia Gold (GCG) announced March 30 that its full-year 2015 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to US$38.4 million, from US$10.8 million in 2014. However, the company posted an adjusted net loss of $1.1 million in 2015, compared to an adjusted net loss of $17.9 million in 2014. GCG […]

General News

EPM’s Giant ‘Guatape’ Hydroelectric Plant Repairs Underway; Rationing Threat Lessens

Medellin Herald March 28, 2016

Medellin-based power giant EPM announced March 25 the successful delivery of the last of eight groups of replacement cables and related equipment for repairing its 560-megawatt (MW) “Guatape” hydroelectric plant in Antioquia. The plant went off-line February 15 because of a fire in an access tunnel, which officials suspect could be traced to some defect […]

Companies

Bancolombia’s Investment-Bank Division Wins Global Finance ‘Innovator’ Award

Medellin Herald March 28, 2016

Bancolombia announced March 28 that its investment banking division (“Banca de Inversion Bancolombia”) nabbed the top award for “most innovative” from Global Finance for investment banking in the entire Latin America region during 2015. It’s the first-ever Latin-America regional award for Bancolombia, although its investment-banking division has also taken top honors for

Opportunities

Demand for Bilingual High-Tech Employees Growing in Medellin

Medellin Herald March 21, 2016

Companies large and small continue to advertise for bilingual employees with high-tech skills in Medellin. Companies large and small continue to advertise for bilingual employees with high-tech skills in Medellin. Among recent job postings in Medellin advertised in LinkedIn: 1. BMC: Software Account Manager. This salesperson would be “responsible for managing and

Companies

Mineros SA Boosting Environmental, Social Projects: Heart of Gold

Medellin Herald March 21, 2016

On the heels of reporting a 60% jump in profits last year, Medellin-based gold miner Minerors SA released its latest annual “sustainability” report showing that company-wide environmental spending rose to COP8.96 billion (US$2.9 million) in 2015, up from COP6.79 billion (US$2.2 million) in 2014. The company also invested millions more in dozens of social projects […]

Companies

ProColombia Touts Medellin-Based Ubidots in ‘Successful Cases’ Report

Medellin Herald March 21, 2016

ProColombia – the national government’s export promotion agency – on March 16 touted Medellin-based, high-tech-sensor maker Ubidots as an outstanding example of successful international business development. “India irrigation systems, water levels in England, and handling of intelligent lamps in Germany are some of the processes that Ubidots monitors from Medellin,”