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While Colombia is the best over-performer in all of Latin America, "this does not mean there is room for complacency," states the new report from Telefónica.

While the uptick provided much needed revenue for the government, the news isn't so positive outside of the one $2 billion sale of a state-owned utility.

Using Microsoft's Azure technology, the companies say they will offer improved data services, increased security, local currency payments, and account management.

"This is an efficient and innovative initiative that allows Bancolombia to make life easier for its customers," says the bank.

The Spanish carrier allegedly promoted a direct flight from Medellín to Madrid when the route in fact included a stopover in the nearby Colombian city of Cali.

Colombian companies are facing multiple headwinds that are hurting cash flow and leading to increased leverage, according to Fitch Ratings.

Bancolombia: "The transaction — still pending approval — demonstrates the interest of large global players to get market exposure to Latin America."

She will oversee Unisys teams in both Bogotá and Rionegro, Antioquia, in addition to running three other service desk operations throughout the region.

Poligrow Colombia has been reprimanded for alleged infractions that include wastewater dumping and letting compost runoff leach into the local forest.

Canada's pledge is the latest in a series of international commitments, including a $450 million USD commitment from the United States.