Colombian economy

Colombian Full-year 2017 Exports Jump 19% Year-on-Year

Medellin Herald February 5, 2018

Colombia’s national economic statistics agency (Departamento Administrativo Nacional de Estadistica, DANE) revealed February 5 that full-year 2017 exports jumped 19% year-on-year, to US$37.8 billion, up from US$31.7 billion in 2016 — a year that saw exports drop 11.8% year-on-year. By

Real Estate

Colombia Supreme Court Ruling: Fiduciaries Hardly Protect Real-Estate Investors

Medellin Herald February 2, 2018

The Supreme Court of Colombia on January 17 notified a group of investors suing a fiduciary over a failed medical-office-building project near Medellin that a fiduciary has extremely limited legal obligations to oversee performance of shaky real-estate development projects or verify crucial financial assertions made by the developer. The group of investors had sued

Companies

Exito’s ‘Didetexco’ Alliance Helps Colombia Compete in Tough Clothing Markets

Medellin Herald January 28, 2018

Medellin-based multinational retail giant Exito is enjoying ever-greater success with its “Didetexco” clothing manufacture/export subsidiary – even in the face of Colombia’s  competitive problems with illegal, below-cost, and unethical clothing vendors (mainly exporting from Asia). In a presentation to the Colombiatex 2018 annual show here January 23, Didetexco general

Companies

Celsia Full-Year 2017 Profits Rise 47% Despite Lower Power Prices

Medellin Herald January 27, 2018

Medellin-based Celsia – the electric-power division of corporate giant Grupo Argos – on January 26 reported full-year 2017 net profits of COP$251 billion (US$89 million), up 47% from COP$171 billion (US$61 million) in 2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) hit COP$1.12 trillion (US$399 million) for full-year 2017, up 9% year-on-year

Companies

ACI Touts Arrival of Swiss Multinational Amaris to Medellin’s ‘Ruta N’

Medellin Herald January 19, 2018

Medellin business-development agency Agencia de Cooperación e Inversión de Medellín y el Área Metropolitana (ACI) announced January 19 that Switzerland-based multinational consultant Amaris plans to expand its Colombian and South American operations following start-up of new offices at Medellin’s “Ruta N” high-tech hosting center. “Teamwork between ACI Medellín, Ruta N and

Colombian economy

Colombia’s Banco de la Republica 2018 Survey: Peso/Dollar Range COP$2,800 to COP$3,200

Medellin Herald January 18, 2018

The latest monthly survey of leading banks and financial firms by Colombia’s Banco de la Republica (the national bank) finds that the Colombian peso is likely to trade in a range of COP$2,800 to COP$3,200 per US$1 during 2018, with a foreseen average of COP$2,995/US$1 by year-end. The monthly survey

Colombian economy

Colombia GDP to Rise 2.6% in 2018: Latest United Nations ECLAC Study

Medellin Herald January 16, 2018

In a new study released January 15, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) finds that Colombia’s gross domestic product (GDP) is likely to rebound to 2.6% growth in 2018, up from 1.8% in 2017. “GDP is projected to expand by 2.6% in 2018 against a backdrop of lower interest […]

Companies

EPM Taps IDB, International Banks for US$1 Billion ‘Hidroituango’ Finance

Medellin Herald December 31, 2017

Medellin-based multinational power giant EPM announced December 29 that it won a US$1 billion credit from the Interamerican Development Bank (IDB) “Invest” funding subsidiary for debt finance of its 2.4-gigawatt, US$5 billion “Hidroituango” hydroelectric project in Antioquia. The credit package includes payback terms of eight-to-12 years. Draws would take place during a

Colombian economy

Mining, Energy Still Crucial to Fix Colombia’s Weak Finances: Fedesarollo

Medellin Herald December 13, 2017

Colombia’s top economic think-tank — Fundación para la Educación Superior y el Desarrollo (Fedesarollo) — on December 13 unveiled a report which finds that mining and energy projects will continue to be crucial to restoration of slumping national government finances. Antioquia is Colombia’s biggest gold-mining department — and hence figures into the

Companies

Fabricato Moving Rionegro Plant to Bello; Notes Anti-Dumping Decision

Medellin Herald December 3, 2017

Medellin-based textile giant Fabricato SA announced November 28 that it has begun the process of moving the entire operations of its “Riotex” factory in Rionegro to its Bello factory – both of which are nearby Medellin. Transfer of dry production units will be completed by January 2018, while the wet production units will move to […]