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Month

//June 2017
Colombian Petroleum Institute Ecopetrol Instituto Colombiano del Petróleo
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Colombian Petroleum Institute to Invest $3.5 Million USD in Research Labs and Upgrades

As it celebrates its 32nd anniversary this weekend, the institute announced plans for a new cement laboratory and upgrades at its rock mechanics lab.
Posted On June 10, 2017
, By Jared Wade
Bancolombia Juan Carlos Mora credit bank colombia financial (Photo credit: Bancolombia)
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Bancolombia Reduces Mortgage Interest Rates by 150 Basis Points

Colombia’s largest bank Bancolombia this week lowered the interest rates on its mortgage offerings by up to 150 basis points. According to the Medellín-based financial institution, this move means its rates now start at 0.76% monthly, or 9.6% on an annual basis. The bank said...
Posted On June 9, 2017
, By Jared Wade
Air Canada A320 C-FKCO Toronto Air Canada Rogue Toronto Cartagena Colombia
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Air Canada to Offer Seasonal Direct Flight from Toronto to Cartagena Starting December 18

The winter route will fly weekly from Toronto to Cartagena between December 18 and April 9.
Posted On June 9, 2017
, By Jared Wade
Bogotá, Colombia imf growth
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Inter-American Development Bank Grants Colombia $450 Million USD Loan for Financial System Reforms

The proposed reforms will aim to solidify macroeconomic stability, boost development, encourage public/private partnerships, strengthen regulation, and promote financial inclusion.
Posted On June 9, 2017
, By Jared Wade
international monetary fund colombia IMF growth forecast
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IMF Renews Colombia’s $11.4 Billion USD Line of Credit

The announcement reaffirms a credit line originally approved by the IMF in June 2016. Colombia’s policymakers say they view this as merely a precautionary source of capital.
Posted On June 7, 2017
, By Jared Wade
village capital fintech latin america colombia startup mexico city
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Village Capital Program to Invest at Least $150,000 USD in Latin American Fintech Startups

Up to 15 fintech companies will enter a three-month training and capital-raising program. The two highest-performing startups will receive at least $75,000 USD in funding.
Posted On June 7, 2017
, By Jared Wade
buenaventura paro strike
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Colombia Ends 22-Day Strike in Buenaventura with Agreement to Invest more than $500 Million USD in Development

Funds for sanitation, water, health, and education "will bring dignified living conditions to the population," said Buenaventura Mayor Eliécer Arboleda Torres.
Posted On June 7, 2017
, By Jared Wade
The Higabra Valley Tunnel at Continental Gold's Buriticá goldmine in Antioquia.
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Continental Gold Elects Nine Directors at Annual Meeting

All of Continental Gold's nominees were approved while receiving at least 99.8% of the vote, according to a filing by the Toronto-based mining company.
Posted On June 5, 2017
, By Jared Wade
bioenergy colombia ethanol meta department electricity ecopetrol
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Bioenergy to Begin Selling Ethanol to Terpel in First Commercial Deal

Colombian energy company Bioenergy has signed its first commercial deal to begin selling ethanol from its plant in Meta to Bogotá-based oil and gas leader Terpel.
Posted On June 5, 2017
, By Jared Wade
colombia ratings fitch ratings outlook stable negative sovereign rating bogota medellin
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Fitch Ratings: 20% of Colombian Corporates Have a Negative Outlook

After Brazil (51% negative) and Colombia (20%), Fitch Ratings has assigned negative outlooks to 19% of corporates in Chile, 12% in Peru, 9% in Mexico, and 6% in Argentina.
Posted On June 5, 2017
, By Jared Wade
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