Companies

Conconcreto 1Q 2020 Profits Fall 34% Year-on-Year

Medellin Herald May 27, 2020

Medellin-based construction giant Constructora Conconcreto revealed in a May 26 filing with Colombia’s Superfinanciera oversight agency that its first quarter (1Q) 2020 net income fell 34% year-on-year, to COP$20 billion (US$5.3 million). Earnings before interest, taxes, depreciation and

Infrastructure

EPM Reports 192 Cases of Covid-19 Among ‘Hidroituango’ Hydroelectric Project Workers

Medellin Herald May 27, 2020

EPM Social/Environmental Projects Director Ana Milena Joya Camacho revealed in a May 26 meeting with Antioquia departmental officials that 192 workers at the “Hidroituango” hydroelectric project have tested positive for Coronavirus. Because of this outbreak – first detected among 13 workers on May 12 — EPM not only has removed, isolated and ensured treatment of […]

Companies

Latam Joins Avianca in Chapter 11 Bankruptcy

Medellin Herald May 26, 2020

Chile-based Latam Airlines – second only to bankrupt Avianca in Colombian air transport dominance — announced May 26 that it filed for Chapter 11 bankruptcy in U.S. federal court. The Covid-19 crisis – banning most air traffic — forced Latam to absorb impossible losses, the company noted. For example: Colombia has banned all regular passenger […]

Companies

Peso Depreciation Against U.S. Dollar Causes EPM to Post 1Q 2020 Net Loss

Medellin Herald May 23, 2020

Medellin-based multinational utilities giant EPM on May 22 posted a COP$276 billion (US$73 million) net loss for first quarter (1Q) 2020 –solely because its debt accounting is in U.S. dollars, rather than in sharply-depreciating Colombian pesos. “Due to accounting standards and due to the depreciation of the Colombian peso, understanding the debt that the company

General News

Medellin Tests 3 Types of Liberated Shopping Malls Starting May 25

Medellin Herald May 22, 2020

Medellin Mayor Daniel Quintero announced May 22 via his Twitter account that three different types of malls will be opened to the public here — under strict biosafety protocols — starting Monday, May 25, as a run-up to the planned reopening of more malls starting June 1. According to the Mayor, the three shopping malls […]

Health & Insurance.

Seguros Sura Expands Novel Home-Care Testing, Recovery Programs for Covid-19

Medellin Herald May 21, 2020

Medellin-based insurance and health-network provider Seguros Sura announced May 21 that it’s expanding a novel home-care testing-and-recovery program for Covid-19 patients. “The company is a pioneer in this model that already operates in Antioquia, and from next week in Barranquilla, Cali and Bogotá, and then in other cities in the country,” according to Sura. The […]

General News

115 Towns in Antioquia Conditionally Liberated from Covid-19 Quarantine

Medellin Herald May 21, 2020

Antioquia’s General Secretary Luis Fernando Suárez announced May 21 that 115 towns in Antioquia that haven’t had a single case of Coronavirus have now been freed from quarantines for nearly all economic sectors. None of these towns are in the Medellin metro area (Valle de Aburra), however. Nor is the city of Rionegro, where Medellin’s […]

Health & Insurance.

Telemedicine Moves to Forefront in Antioquia’s Battle Against Coronavirus

Medellin Herald May 21, 2020

Antioquia Governor Aníbal Gaviria Correa on May 20 hailed leadership by the “LivingLab-Telemedicina” patient-contact-and-testing center here in the continuing struggle to detect, contain and overcome Coronavirus. “LivingLab-Telemedicine is developing as one of the greatest successes in Antioquia in confronting the Coronavirus contingency,” Governor Gaviria said following a

Other Norms

Colombia’s Transport Minister: International Flights Banned Through August 31

Medellin Herald May 21, 2020

Colombia Transport Minister Ángela María Orozco announced last night (May 20) in a nationally televised presentation on Coronavirus regulations that regular international passenger flights to and from Colombia will be banned through August 31. The surprising announcement came just one day after President Ivan Duque stated that international and national flights —

Schools

Medellin Council to Vote on Record US$1.6 Billion Budget for Public Education

Medellin Herald May 21, 2020

Right on the heels of Colombia President Ivan Duque’s new announcement that Colombia will launch alternating-shifts of physical/virtual school and university education in August, Medellin Education Secretary Alexandra Agudelo Ruiz unveiled a record-setting COP$6.2 trillion (US$1.6 billion) budget for the coming school year. If the Medellin City Council gives approval