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Month

//December 2019
The International Narcotics Control Board (
2

UN Board Allocates To Colombia 56.5 Ton High-THC Regulated Marijuana Production Quota

The UN body allocated 131,000 pounds of dried marijuana flower production to Colombia, 21.84% of the entire world total.
Posted On December 30, 2019
, By Loren Moss
Colombia's President Ivan Duque (l) with Dr Mabel Torres, the new Minister of Science, Technology & Innovation
off

Dr. Mabel Gisela Torres Named Colombia’s 1st Minister of Science, Technology and Innovation

Colombia’s President Ivan Duque today named Bahía Soláno, Chocó native Mabel Gisela Torres Torres PhD as Colombia’s new minister of Science, Technology & Innovation. Torres is a scientist from Colombia’s Pacific Coast who after 9 years of study abroad, returned to the...
Posted On December 30, 2019
, By Loren Moss
Jorge Londoño De la Cuesta is the former CEO of EPM
1

CEO Jorge Londoño Resigns From EPM

Finance Colombia has learned that Jorge Londoño De la Cuesta has resigned his post as head of Empresas Públicas de Medellín (EPM), the country’s largest energy provider. Though it was expected De la Cuesta would be replaced by the incoming administration of mayor-elect Daniel...
Posted On December 30, 2019
, By Loren Moss
off

Inmobiliaria Bondue Issues $5 Million USD Credit Facility to Toronto Based CBD Developer Avicanna

Toronto based Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, has announced last Friday that it has entered into a...
Posted On December 30, 2019
, By Loren Moss
Sylvia Constain, Colombia's Minister of Information Technology & Communications (with microphone)
off

Colombia Auctions Mobile Spectrum To 3 Bidders For $1.5 Billion USD

In an auction that raised 5 trillion pesos ($1.5 Billion USD), Colombia allocated mobile spectrum to operators America Movil (Claro) (NYSE: AMX, BMV: AMXL) and Millicom (Tigo) (NASD: TIGO, STO: TIGO SDB), and to British private equity investors Novator Partners. Telefónica’s...
Posted On December 30, 2019
, By Loren Moss
off

Considering Doing Business In Colombia or Latin America?

Leverage the expertise & on-the-ground experience of the publishers of Finance Colombia. The publisher of Finance Colombia, Loren Moss, backed by an experienced multinational team of professionals stands ready to place our over 15 years of in-country experience at your...
Posted On December 29, 2019
, By Loren Moss
Bogotá, 27/12/2019 Foto: archivo, Nicolás Galeano - Presidencia
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Colombia’s President Signs Fiscal Stimulus Package Into Law

Colombia’s President Ivan Duque yesterday signed the Law 2010 of December 27, 2019 called the “Ley de Crecimiento Económico” or “Economic Growth Law” after it was approved by Colombia’s congress. The administration hopes the law will spur foreign direct investment and grow the...
Posted On December 28, 2019
, By Loren Moss
One of Avianca new 787s at Medellin's Airport
off

Standard & Poor’s Upgrades Avianca Holdings To ‘B-‘ From ‘SD’ & LifeMiles To ‘B+’ From ‘B-‘ On Debt Restructuring Completion

S&P Global Ratings last week raised its issuer credit rating to ‘B-‘ from ‘SD’ and its issue-level rating on the 9% senior secured notes due 2023 to ‘B-‘ from ‘CCC-‘ and the 8.375% senior unsecured notes due 2020 to...
Posted On December 28, 2019
, By Loren Moss
Video footage where SIC head Andrés Barreto rules Uber illegal in Colombia
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Colombian Government Issues Cease & Desist Order to Uber, But Uber Continues to Operate

Colombia’s commercial regulatory authority, the Superintendencia de Industria y Comercio (SIC), has ordered popular ride hailing platform Uber to cease operations in Colombia. So far Uber has rejected the order, indicates it is appealing, and continues to operate. Uber is very...
Posted On December 28, 2019
, By Loren Moss
off

Arturo José Galindo Andrade Appointed Co-Director Of Colombia’s Central Bank

Colombia’s President Iván Duque Márquez announced yesterday, from his Twitter account, the appointment of University of Los Andes economist Arturo José Galindo Andrade as the new co-director of the Banco de la República, Colombia’s Central Bank, replacing José Antonio Ocampo. “I...
Posted On December 28, 2019
, By Loren Moss
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