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

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,”

Tourism

InselAir Relaunches Medellin-to-Aruba Nonstop Flights

Medellin Herald March 15, 2016

Dutch Caribbean airline InselAir announced March 8 that — thanks to the recent relaxation of visa requirements – it will resume twice-a-week nonstop flights from Medellin’s international airport at Rionegro to the Caribbean island of Aruba. “Demand has increased due to the removal of the visa requirement for Colombians in combination with the start of […]

Colombian economy

Medellin-Based Bancolombia Net Income Soars Despite Colombian Economy Dip

Medellin Herald March 15, 2016

Bancolombia – already Colombia’s biggest bank and now operating in 10 countries in Latin America – on March 9 reported a 21% year-on-year (y-o-y) jump in fourth quarter (4Q) 2015 net income, to COP656 billion (US$207.9 million). Full-year 2015 net income rose 5.5% y-o-y, to 2.5 trillion (US$792 million), according to the company. The bank’s […]

General News

USAID Launches ‘Oro Legal’ Responsible-Mining Projects in Antioquia

Medellin Herald March 4, 2016

The U.S. Agency for International Development (USAID) announced March 4 the launch of “Oro Legal” projects aiming to promote environmentally and socially responsible gold mining in Antioquia and Chocó departments. Among the companies that will cooperate in the projects is Medellin-based gold-mining giant Mineros SA, recognized nationally and internationally for its

Companies

Fabricato, Coltejer Report Improved Financial Results in 2015

Medellin Herald March 3, 2016

Medellin-based textile manufacturer Fabricato revealed February 24 in a filing with the Superintendencia Financiera de Colombia that its fourth quarter (4Q) net income rose to COP4.9 billion (US$1.5 million), up from a net loss of COP11.6 billion (-US$3.6 million) in 4Q 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) for 4Q 2015 rose to […]

Companies

Conconcreto, Construcciones El Condor 2015 Profits Jump on Infrastructure Projects

Medellin Herald March 3, 2016

Medellin-based construction industry giants Conconcreto and Construcciones El Condor both reported March 1 that revenues and profits are soaring thanks to recent, current and future launches of giant construction projects including the “fourth generation” (4G) highways and related ocean freight ports. According to Conconcreto, full-year 2015 profits soared 305%