October 31, 2025
Home Archive by category Business (Page 33)
Companies

Nutresa 3Q 2021 Profits Rise 14% Year-on-Year

Medellin-based multinational foods giant Grupo Nutresa on October 29 reported a 17% year-on-year hike in third quarter (3Q) 2021 net profits, hitting COP$173 billion (US$46 million). Operating income rose to COP$3.36 trillion (US$893 million), up from COP$2.85 trillion (US$757 million) in 3Q 2020. Meanwhile, 3Q 2021 operating profit rose 8.4% year-on-year, to COP$867
Companies

Cemex LatAm 3Q 2021 Net Loss Improves Year-on-Year

Colombia-based Cemex LatAm Holdings – producer of cement, concrete and aggregates in six Latin American nations – on October 27 reported a third quarter (3Q) 2021 net loss of US$10.6 million, a big improvement over the US$110 million net loss in 3Q 2020. Corporate-wide operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose to […]
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