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Two years after purchasing 40% of Guatemala’s Grupo Agromercantil Holding, parent company of Grupo Financiero Agromercantil and Banco Agromercantil de Guatemala, Bancolombia (NYSE:CIB BVC:BCOLOMBIA), based in Medellín, Colombia has moved to take a controlling interest in the...

CHICAGO—(Business Wire)–Fitch Ratings has affirmed the long-term foreign and local currency Issuer Default Ratings (IDRs) of Millicom International Cellular, S.A. (Millicom) (STO:MIC-SDB) at ‘BB+’ with a Stable Outlook. Fitch has also affirmed Millicom’s...

Last week, Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC), formerly known as Pacific Rubiales, announced that it has obtained an extension of the waivers previously granted by its lenders in respect of the Net Worth Covenant that requires the company to...

Yesterday, President Juan Manuel Santos, along with Finance Minister Mauricio Cardenas and Labor Minister Luis Eduardo Garzón, signed into law Decreto (Decree) 2552 of 2015, setting the Colombian monthly minimum wage at $689,455 pesos. This power was given to the executive branch...

On Sept. 11, 2015, Bancolombia announced an agreement to acquire an additional 20% stake in Banco Agromercantil de Guatemala which would bring the bank’s share of Banco Agromercantil de Guatemala’s equity to 60%. Once the transaction is approved by regulators in both...

According to a report released by the International Monetary Fund (IMF) and the Multilateral Investment Fund (MIF) Remittances to Latin America and the Caribbean Set a New Record High in 2014, the recordbreaking increase in remittances (money transfers) to Latin America reflects...

EAFIT is a fairly young university when compared to European colleges or even many in the New World. Still, it has done quite a bit in its 55 year history. Started by business leaders in Antioquia who wanted a qualified source of managers and technicians, EAFIT has managed to...

The strong U.S. dollar, Colombian peso (COP) depreciation and slow growth in Latin American economies are not expected to be serious threats to the credit strengths of Colombia’s largest private banks, says Fitch Ratings. In a strong dollar environment, Colombia’s...

Millicom International Cellular (NASDAQ:MICC) (STO:MIC), the Luxembourg based global telecom operating the Tigo and UNE brands in Colombia is reporting strong first quarter revenue growth across its operating units. While the weakness of the Colombian Peso has served as a drag on...

Iberian company Digitex has been experiencing tremendous growth of late, using its global footprint to find success beyond its Iberian home. In 2014 alone, the company realized 30% revenue growth in Colombia alone, providing a mix of technology and services to corporate...