Companies

Fabricato 3Q 2020 Net Loss Trimmed by 75% Year-on-Year

Medellin Herald November 3, 2020

Medellin-based textile giant Fabricato announced November 3 in a filing with Colombia’s Superfinanciera oversight agency that its third quarter (3Q) 2020 net loss came-in at COP$3.29 billion (US$861,000), a 75% improvement over the COP$13.27 billion (US$3.47 million) net loss in 3Q 2019.

Companies

Nutresa 3Q 2020 Net Income Rises Year-on-Year

Medellin Herald October 31, 2020

Medellin-based multinational prepared-foods giant Grupo Nutresa announced October 30 that its third quarter (3Q) net income rose 7% year-on-year, to COP$142 billion (US$36.6 million). Operating income also rose, to COP$2.8 trillion (US$722 million) in 3Q 2020 versus COP$2.5 trillion (US$645 million) in 3Q 2019. For the first nine months of 2020 (through September),

Companies

Éxito 3Q 2020 Profits Soar 369% Year-on-Year; ‘Sustainable Livestock’ Initiative Launches

Medellin Herald October 29, 2020

Medellin-based multinational supermarket and home-products giant Grupo Exito announced October 28 that its third quarter (3Q) 2020 net profits jumped by 369% year-on-year, to COP$52 billion (US$13.5 million). On the other hand, recurring earnings before interest, taxes, depreciation and amortization (EBITDA) actually dipped 9.4% year-on-year, although sales rose a modest

Other Norms

Medellin Activating Another 176 ICU Beds for Covid-19 Surge; Colombia President Extends Regulatory Measures Through November

Medellin Herald October 29, 2020

Medellin Mayor Daniel Quintero, Antioquia Governor Anibal Gaviria, Colombia Health Minister Fernando Ruiz and Colombia President Ivan Duque jointly announced October 28 more measures to address surging Covid-19 cases in Antioquia and other parts of Colombia. Beyond the upcoming bans on booze, bars and Halloween this weekend, upcoming curfews on children from 6 pm Friday,

Other Norms

Medellin, Antioquia Confront Covid-19 Surge by Banning Booze, Bars, Halloween

Medellin Herald October 27, 2020

Area Metropolitana de Valle de Aburrá (AMVA) – the metro Medellin council of governments – announced October 26 that all local governments except Girardota will impose a curfew on minors (under 18) this Halloween holiday weekend — 6 pm Friday, October 30 through midnight Monday, November 2– and likewise ban all sales of liquor. The […]

General News

Air Europa Restarts Medellin-Madrid Nonstop Flights in November

Medellin Herald October 19, 2020

Spain-based Air Europa announced October 19 that it will resume nonstop flights between Medellin’s Jose Maria Cordoba (MDE) international airport and Madrid (MAD), Spain. “As of November, Air Europa resumes its flights to Bogotá, Medellín, Caracas and Havana and increases frequencies to Santo Domingo, Quito and Guayaquil,” according to the company. By year-end 2020, Air

Infrastructure

Crucial ‘Mar 1’ Highway Hits 75% Advance, ‘Vias del Nus’ Project Now at 70%

Medellin Herald October 19, 2020

Colombia’s national infrastructure agency (Agencia Nacional de Infraestructura, ANI) announced October 19 that the “Mar 1” highway project connecting Medellin westward to current and future Atlantic ports has jumped-ahead to 75% completion. Meanwhile, the “Vias del Nus” highway project linking Medellin northward to the “Ruta del Sol” connection to Cartagena and Santa Marta

Health & Insurance.

Medellin Mayor: Covid-19 Case Under-Reporting Could Mean 1 Million in Area Already Infected, 96% Recovered

Medellin Herald October 18, 2020

Medellin Mayor Daniel Quintero on October 17 issued a startling analysis indicating that the Medellin metro area likely has already surpassed 1 million Covid-19 cases with 96% of those likely recovered. According to the Mayor’s analysis (see: https://medellin.gov.co/irj/portal/medellin?NavigationTarget=navurl://96fe4145738006ecf074a9e8fc82bccc), “in some countries it

Infrastructure

EPM Completes 35 Measures to Slash Odors from Huge Sewage Treatment Plant

Medellin Herald October 16, 2020

Medellin-based utilities giant EPM announced October 16 that it has now completed all 35 scheduled measures to slash foul odors from its recently inaugurated “Aguas Claras” sewage treatment plant in the northern Medellin suburb of Bello. The only remaining measure (number 36) is to complete a neighborhood survey asking local people about the effectiveness of […]

Companies

PepsiCo Unveils US$93 Million Snack-Foods Plant Project in Antioquia

Medellin Herald October 15, 2020

U.S.-based multinational snack-foods giant PepsiCo announced October 14 a US$93 million investment in a production plant in Guarne, Antioquia, just east of Medellin. Colombia President Ivan Duque hailed the announcement during a nationally televised address October 14, citing this latest example of economic reactivation initiatives here even in the face of the Covid-19