LEDEN 2017

Colombia’s economic growth for 2017 projected at 2.5%: World Bank “The World Bank projected economic growth at 2.5% for Colombia in 2017 in its semi-annual Global Economic Prospects report released last week. The projection is over double the 1.2% growth forecasted for the Latin America and the Caribbean (LAC) region as a whole.” Colombia Reports. 16/01/2017

The foreign brands that will arrive this year to the country “This year comes H & M, one of the biggest fashion firms in the world and known as the Swedish Zara. In addition, Brazil's Italian restaurant chain Ragazzo told Colfranquicias that it has begun talks to enter the country under franchise. Mexican firm Colowings brings Wingstop, American restaurant specializing in chicken wings, desserts, potatoes and salads.  Finally, it will arrive, Rosatel, Privilege, Fairfax Financial Holdings Limited and Elis.” El Tiempo. 16/01/2017

Advent to invest US $ 420 million in Colombia “Of the US $ 2.1 billion that are budgeted to invest the directives of the private equity fund Advent International in Latin America, the expectation is that Colombian projects and companies remain at least 420 million. Seek initiatives in the financial, healthcare, retail, port and airport infrastructure sectors.” El Tiempo. 15/01/2017

Colombia’s tax revenues Rose 2.4% in  2016 “According to government figures, Colombia took in 126.7 trillion pesos ($42.5 billion USD) in tax revenues last year, a 2.4% jump over the 123.7 trillion collected in 2015.” Finance Colombia.” Finance Colombia. 14/01/2017

Government appproves funding for $5.2 Billion USD Bogotá metro and regional rail project “Colombian President Juan Manuel Santos approved financing for the $5.1 billion USD plan to build a metro in Bogotá, expand the city’s existing Transmilenio bus system, and construct a rail project that will connect outlying areas to the capital. “It is the largest investment in the history of Bogotá,” said Santos.” Finance Colombia. 14/01/2017

Banco de Bogotá approved more than 7,000 student loans in 2016 “Banco de Bogotá announced yesterday that it approved 7,158 student loans in 2016. The financial services institution headquartered in capital grants educational loans through it Credestudiantil segment and says that it hopes to continuing funding the studies of all Colombians in need of financial support.” Finance Colombia. 13/01/2017

Colombia’s 2016 inflation rate at 5.75%  “Colombia’s 2016 inflation was set at 5.75% by the country’s national Central Bank, missing the government-set target for the year but still down from the inflation recorded in 2015.” Colombia Reports. 09/01/2017

Colombia raises minimum wage with 7% to $1.18 / hour “Colombia’s government decreed a minimum wage hike of 7% after labor unions had walked out of weeks of ritual but fruitless negotiations with employers. Labor Minister Clara Lopez announced the decree, specifying that the minimum wage earned by approximately half of Colombia’s labor force will go from $229 (COP689, 454) to $245.75 (COP737, 717) per month.” Colombia Reports. 02/01/2017

 

PROSINEC 2016

Colombia’s Congress approves tax reform in bid to raise billions “Lawmakers in Colombia’s Congress have approved a tax reform bill that seeks to raise billions of dollars in the coming years to make up for lost oil revenue and preserve the Andean nation’s investment grade credit rating.” Colombia Reports. 23/12/2016

Huawei to establish major presence in Medellín’s Ruta N technology complex “Medellín’s key technology stakeholders gathered together along with Chinese executives for a major announcement: Huawei had signed on to be a tenant at Ruta N. The Shenzhen-based global technology firm, with a presence in networking equipment and mobile phones, is deploying engineers and technicians to service major accounts like the city of Medellín and telecommunications operator Tigo/UNE.” Finance Colombia. 13/12/2017

 

LISTOPAD 2016

Citibank suspends sale of consumer banking operations in Colombia “In a reversal of a plan announced early this year, Citibank now plans to retain its consumer banking operations in Colombia. With lower earnings due to devalued currency throughout the region and a desire to simplify the company’s operational structure, the company announced its plan to sell its consumer banking segment in Colombia, Brazil, and Argentina.” Finance Colombia. 24/11/2016

Colombia’s Hass avocados to head stateside “Entities such as CorpoHass and the association of exporters Analdex want the Colombian Hass to become an everyday staple in households across the United States even though this fruit is harvested in Mexico and California. In fact, 95% of all avocados consumed in North America come from trees growing north of the tropics. Currently, Colombia exports the fruit to the Netherlands, United Kingdom, Spain, and France.” The City Paper. 08/11/2016