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This marks the 10th store for PriceSmart in Colombia, which so far is the retailers only South American market.

Óscar de Jesús Hurtado Pérez was appointed to take over as acting mayor until the end of the year.

Medellín has a larger budget than ever before, but it still isn’t enough as stakeholders continue to question how money is managed in the heavily indebted city.

"They position Colombia, the country of beauty, on the world map of tourism," said Arturo Bravo, vice minister of tourism.

With Colombia's third largest mobile carrier in financial turmoil, the radical change was agreed to at the September 13 shareholder meeting.

EPM revealed the $983 million USD settlement sum last month after a court ordered the Colombian public utility to disclose the figure paid by its insurer Mapfre.

The downward revision from 12.2 years to 11.2 years comes "as a result of an increase in annual throughput estimates to reflect nameplate capacity," per GoldMining Inc.

Gonzalez says potential clients "get very excited because it's not only what TaskUs can do out of a city — but also how the culture of the city blends with the culture for that client. I think it's a perfect combination.

"Colombia has demonstrated resilience to recover from the difficulties that the sector has encountered, especially in passenger cargo movement," says Diego Muñoz of FEDIAC.

Somos Internets plans to use the funds to improve current infrastructure, enhance product offerings, and expand to new areas of the country, including Bogotá.