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Month

//July 2016
maersk colombia juan camilo vásquez
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Maersk Sees Colombia’s Infrastructure, Ports, and New Markets Driving Future Exports

Infrastructure upgrades are helping Colombia become more and more competitive as Colombia looks to diversity its exports, says Juan Camilo Vázquez of Maersk Line.
Posted On July 29, 2016
, By Loren Moss
Banco de la Republica, the central bank of Colombia, in Bogotá.
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Colombia’s Central Bank Raises Interest Rate by 25 Basis Points to 7.75% to Curb Inflation

This marks the 11th consecutive month that the Banco de la República has intervened in a fight against an inflation rate that has hit a 16-year high.
Posted On July 29, 2016
, By Jared Wade
Travelers leaving El Dorado International Airport in Bogotá (Photo credit: Jared Wade)
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One Million More Passengers Have Flown in Colombia in 2016 Compared to Same Time Frame Last Year

January and June have been the highest-trafficked periods so far in 2016, with more than three million fliers in each month.
Posted On July 28, 2016
, By Jared Wade
ecopetrol u'wa gibraltar
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Ecopetrol Reaches Agreement with U’wa Community to Regain Control of Its Gibraltar Gas Plant

The state-controlled oil giant and the U'wa community that has spent decades fighting energy firms have negotiated an end to their standoff in Norte de Santander.
Posted On July 28, 2016
, By Jared Wade
global entry colombia 2
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Colombia to Join Global Entry Program that Allows Foreign Visitors to Cut Travel Time Through U.S. Airports

Colombia becomes the eighth nation whose citizens can now apply to join the U.S. Customs' Global Entry program and speed up the tedious process of entering the country.
Posted On July 27, 2016
, By Jared Wade
ecopetrol colombia fitch ratings bogota juan carlos echeverry
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Fitch Affirms Ecopetrol’s Investment-Grade Rating Days After Agency Issued Warning for Colombia’s Sovereign Rating

While Ecopetrol's long-term foreign-currency IDR was maintained at BBB, its outlook has changed to negative, and the energy giant's long-term local-currency IDR was downgraded one notch.
Posted On July 26, 2016
, By Jared Wade
movistar colombia fine million ultramagic
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Movistar Forced to Pay Back $2 Million USD to 208,000 Clients for Illegal Service Charges

The telecom giant must pay back $2 million USD to clients who incurred an irregular charge while switching service plans, says the Superintendency of Industry and Commerce.
Posted On July 26, 2016
, By Jared Wade
LATAM Airlines Boeing 787-9 Dreamliner
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LATAM Airlines Fined $22 Million USD for Bribery Charges in Argentina

The U.S. Department of Justice says that LAN's actions in Argentina were in violation of the Foreign Corrupt Practices Act.
Posted On July 26, 2016
, By Jared Wade
consumer confidence santafe centro comercial bogota
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Consumer Confidence Creeps Up in Colombia for the Fifth Straight Month

Despite an increase for the fifth straight month, BBVA analysts caution against an overly optimistic reaction to another minor uptick
Posted On July 26, 2016
, By Jared Wade
colombia ratings fitch ratings outlook stable negative sovereign rating bogota medellin
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Fitch Puts Colombia’s Ratings on Negative Outlook

Colombia's troubling current account deficit, external debt, and government deficit have led Fitch to assign the country a negative outlook.
Posted On July 25, 2016
, By Jared Wade
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