October 6, 2025
Home Archive by category Business (Page 33)
Colombian economy

Colombia GDP Growth Approaching 9%, Industrial Confidence Hits Record, Covid-19 Threat Plummeting

Colombia’s projected GDP (“PIB” in Spanish initials) for full-year 2021 is now seen at between 8.19% and 9.5%, according to the latest forecast from Fedesarrollo, the nation’s leading economic think-tank. Meanwhile, Colombia’s industrial confidence index (“Índice de Confianza Industrial,” ICI) has just hit its highest level in 41 years, according to Fedesarrollo —
Companies

AngloGold Ashanti’s Proposed Copper Mine in Jerico, Antioquia Hits Another Regulatory Snag

Colombia’s National Environmental Licensing Authority (ANLA) announced October 25 that it has decided to shelve — at least for now, pending further studies – AngloGold Ashanti’s proposed copper/gold mine in Jerico, Antioquia, even despite 75% favorability for the project among the citizens in-and-around Jerico. “With the analysis of the information on file, which was
Companies

Comptroller-General’s Hidroituango Damage Claims Trigger Conconcreto Bankruptcy Filing

Only one day after its fellow “Hidroituango” hydroelectric-project contractor Coninsa Ramon H filed for bankruptcy, Medellin-based construction giant Constructora Conconcreto likewise today (October 13) filed for bankruptcy, citing Colombia’s Comptroller-General proposed COP$4.3 billion (US$1.15 billion) fine for supposed “gross negligence” that allegedly caused an
Companies

Sura’s VaxThera Confirms 2023 Start-up for US$54 Milllion Vaccine Plant in Antioquia

Medellin-based multinational insurance and health-care giant Grupo Sura just confirmed this afternoon (September 23) that its VaxThera biotech division will build a US$54 million plant and laboratory here in Antioquia for production of up-to-100-million bottles/year of vaccines for the Latin American market. “The location was defined after a detailed analysis by a group of
Companies

Coltejer Shuts Down Completely

Medellin-based textile giant Coltejer revealed in a September 9 filing with Colombia’s Superfinanciera oversight agency that it has decided to shutter all operations for what remains of 2021 — and hinted of even more drastic, permanent measures coming. “The suspension of productive activities will continue for the rest of this year 2021,” according to Coltejer. […]