Companies

Grupo Sura 2Q 2019 Net Income Rises 37% Year-on-Year

Medellin Herald April 15, 2019

Medellin-based insurance giant Grupo Sura announced August 14 that its second quarter (2Q) 2019 net income jumped 37.4% year-on-year, to COP$951 billion (US$276 million). “An improved performance on the part of its investment portfolios along with higher revenues obtained from its associates

General News

BYD Launches Electric-Car Sales Just as Medellin Toughens Air-Pollution Driving Limits

Medellin Herald February 8, 2019

China-based electric vehicle (EV) manufacturer BYD on February 7 launched sales of zero-emissions EV cars at its first-ever retail showroom in Medellin – simultaneous with the Mayor’s office announcing new driving restrictions on polluting vehicles with internal combustion engines (ICEs) for the entire Medellin metro area. BYD’s new dealership on Avenida El Poblado

Companies

Cemex LatAm 4Q 2018 Net Profits Slip, Colombia Sales Dip; 2019 Outlook Improves

Medellin Herald February 7, 2019

Bogota-based cement/concrete manufacturing giant Cemex LatAm Holdings announced February 7 that its fourth-quarter (4Q) 2018 region-wide net profits fell 33% year-on-year, to US$10 million, from US$33 million in 4Q 2017. But full-year 2018 profits improved 36% year-on-year, to US$63 million, from US$46 million in 2017, according to the company, which operates in Colombia,

General News

EPM Shuts Last Water Tunnel to Hidroituango Hydroelectric Dam

Medellin Herald February 5, 2019

Medellin-based multinational electric power giant EPM announced Tuesday, February 5, that it successfully shut the last water-intake tunnel at its giant Hidroituango hydroelectric dam, hence accelerating the planned diversion of the Cauca River over the dam’s engineered spillway by several weeks – and also enabling repairs to begin. Temporarily, the decision means that

Expats Corner

U.S. Embassy in Colombia Issues New ‘Proof of Life’ Rule for Social Security Beneficiaries Here

Medellin Herald February 4, 2019

The U.S. Embassy in Colombia announced February 4 that U.S. citizens living in Colombia and receiving Social Security retirement benefits now have to follow a new procedure to show “proof of life.” According to the Embassy announcement (see:https://co.usembassy.gov/message-for-u-s-social-security-beneficiaries/), “as part of the Foreign Enforcement Program, the Social

Congresses & Conferences

Colombiatex 2019 Sales Deals Jump Dramatically Year-on-Year, Hit US$481 Million

Medellin Herald January 24, 2019

The just-concluded, 31st annual “Colombiatex” textile and clothing trade show at Medellin’s Plaza Mayor convention center here generated an estimated US$481 million in sales expectations for 2019 – an estimated 26% jump over 2018 indications, according to show organizer Inexmoda. Speaking to an overflow crowd of national and international journalists here January 24,

Companies

Antioquia Hosts Launch of Colombia’s Biggest Hass Avocado Export Plant

Medellin Herald January 22, 2019

Colombia Minister of Agriculture Andres Valencia on January 18 hailed the start-up of the nation’s biggest Hass avocado export plant at Sonson, Antioquia, targeting the European and Saudi Arabian markets. The new plant, a joint venture between South Africa-based Westfalia Group and Chile-based Agricom, aims to help Colombia meet a goal over the next two […]

General News

Medellin Wins Global Competition to Launch ‘4th Industrial Revolution’ Research Center

Medellin Herald January 22, 2019

Colombia President Ivan Duque announced January 22 at the World Economic Forum summit in Davos, Switzerland, that Medellin just won a world-wide competition to launch the first “Fourth Industrial Revolution” research center in all of Latin America. Over the next 18 months, the initial research projects at the center will involve artificial intelligence (AI); the […]

General News

BYD Wins Contract for 64 Electric Transit Buses in Medellin

Medellin Herald December 29, 2018

The Medellin Mayor’s Office announced December 28 that China-based electric vehicle (EV) manufacturer BYD won a contract bid to provide 64 pure electric buses for the “Metroplus” bus rapid transit (BRT) system in Medellin. The resulting zero-emissions bus fleet “will be one of the largest in Latin America” and the contract calls for delivery during […]

Companies

Colombia Government Grants Conditional Concession for ‘Puerto Pisisi’ at Turbo, Antioquia

Medellin Herald December 21, 2018

Colombia’s Transport Ministry and its Agencia Nacional de Infraestructura (ANI) infrastructure agency announced December 20 that they’ve granted a conditional 30-year concession license to the developers of the proposed “Puerto Pisisi” Atlantic freight port at Turbo, Antioquia. According to ANI, the initial investment would total US$133 million, and when completed