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Business Colombia

  • BOGOTA, Feb 24- Colombia's central bank is likely to hold the benchmark interest rate steady for a second month on Friday as board members struggle to ease inflation even as the economy remains sluggish. Latin America's fourth-largest economy has been hit by a slump in global oil prices and is struggling with a rise in inflation. Crude oil is Colombia's biggest...

  • CANBERRA- Reserve Bank of Australia Governor Philip Lowe will appear at the House of Representatives Standing Committee on Economics. CHISINAU- National Bank of Moldova announces interest rate decision. ANKARA- Central Bank of the Republic of Turkey monetary policy meeting.

  • Traffic analytics firm Inrix has calculated how much time drivers spend stuck in traffic during peak travel times last year in 1,064 cities in 38 countries worldwide. Source: Inrix Inc., 2016 Global Traffic Scorecard. Does not include cities in Japan or China, where Inrix does not collect its own data.

  • DETROIT— When it comes to getting stuck in traffic on the way to and from work, Los Angeles leads the world. That topped second-place Moscow at 91 hours and third-place New York at 89, according to a traffic scorecard compiled by Inrix, a transportation analytics firm. San Francisco was the fourth-most congested city, while Bogota, Colombia, was fifth, Sao Paulo...

  • DETROIT, Feb 20- Traffic jams cost U.S. drivers an average of $1,200 a year in wasted fuel and time, and much more in Los Angeles, the city with the world's biggest rush hour traffic delays, according to a study by INRIX Inc released on Monday. While Thailand was the world's most congested country in 2016, according to the study, the United States had the worst traffic...

  • WASHINGTON— President Donald Trump and a leading Republican are highlighting a key fact about labor secretary nominee Alexander Acosta: He has been confirmed three times by the Senate. Acosta's nomination is off to a good start because he's already been confirmed by the Senate three times, "said Sen. Lamar Alexander, R- Tenn., the chairman of the Senate panel that...

  • SINGAPORE- Federal Reserve Bank of Cleveland President Loretta Mester speaks on "View From the Federal Reserve" before the Global Interdependence Center "Central Bank Series: Singapore" event- 0115 GMT. SYDNEY- Reserve Bank of Australia Governor Philip Lowe to speak at the Australia-Canada Economic Leadership Forum- 2230 GMT. WARSAW- National Bank of Poland...

  • If confirmed by the Senate, Acosta would be the first Hispanic member of Trump's Cabinet. Trump and key Republicans highlighted a key detail in Acosta's resume: He has won unanimous Senate confirmation three times— to a seat on the National Labor Relations Board, as the head of the Justice Department's Civil Rights Division and as U.S. attorney in Miami.

  • Tareck El Aissami, vice president of Venezuela, attends a swearing in ceremony for the new board of directors of Petroleos de Venezuela SA (PDVSA), Venezuela's state oil company, in Caracas, Venezuela, on Tuesday, Jan. 31, 2017.

    The Treasury Department blacklisted Venezuelan Vice President Tareck El Aissami on Monday for alleged drug-trafficking.

  • What I'm sure about is that we need access to additional sources of financing, " Eduardo Pacheco told Reuters in an interview at his Bogota office. Colpatria in 2011 tapped Canada's Scotiabank as a partner, ceding 51 percent in Banco Colpatria, and in 2013 it sold a similar amount of its insurance business to France's AXA. The construction unit has operations in...

  • GENEVA, Feb 13- Panama wants to impose $210 million of annual trade sanctions on Colombia, according to a filing published by the World Trade Organization on Monday, after winning a legal challenge against a so-called "money laundering" tariff. After Panama won its WTO case against Colombia, a WTO adjudicator gave Colombia until Jan. 22, 2017, to comply with the...

  • BOGOTA, Feb 10- Colombian prosecutors investigating Brazil's Odebrecht for corruption will travel to that country next week to look for evidence that the construction conglomerate bribed politicians and sent funds to presidential campaigns, an official said on Friday. Attorney General Nestor Humberto Martinez has said a portion of $4.6 million that...

  • BUENOS AIRES/ SAO PAULO, Feb 9- When Argentina launched a tax amnesty program last year to bring billions of dollars back into the country, it found support from an unlikely corner: the banks whose clients had stashed money abroad. Some $400 billion in undeclared funds was being held outside Argentina, the economy was in recession and the government badly needed to...

  • BUENOS AIRES/ SAO PAULO, Feb 9- When Argentina launched a tax amnesty program last year to bring billions of dollars back into the country, it found support from an unlikely corner: the banks whose clients had stashed money abroad. Some $400 billion in undeclared funds was being held outside Argentina, the economy was in recession and the government badly needed to...

  • BOGOTA, Jan 30- Surprise interest rate decisions over the last two months by Colombia's central bank and the expected appointment of two new board members next month triggered market uncertainty on Monday, sending local debt yields higher as investors fret about monetary policy. "This complicates investor decisions as far as what is coming," said Banco de...

  • LJUBLJANA- European Central Bank President Mario Draghi to give a speech at the joint ECB/ Bank of Slovenia conference on the 10th anniversary of the adoption of the euro- 1215 GMT. PRAGUE- Czech National Bank monetary policy meeting, after which a statement and a presentation will be published. CANBERRA- Reserve Bank of Australia interest rate meeting- 0330 GMT.

  • BOGOTA, Jan 27- Colombia's central bank held its benchmark interest rate on Friday amid concerns over still-high inflation, even as economic growth estimates head downhill. Global uncertainty and an uptick in inflation expectations were the primary reasons for the rate hold, Finance Minister Mauricio Cardenas, who represents the government on the board,...

  • A man holds a 500 Bolivar banknotes in Caracas, Venezuela

    The extended slump in oil prices has turned the OPEC nation's once-prosperous oil-boom economy into a mirror of the latter day Soviet Union.

  • BOGOTA, Jan 19- Colombia could produce 14.5 million 60- kg bags of coffee this year, the highest output in more than two decades, the head of the country's growers' federation said on Thursday, as it pushes productivity and fertilization improvements on farms. Colombia had an output of 18 bags per hectare in 2016, but if growers increase tree density, that figure...

  • *Graphic of poll results: http://tmsnrt.rs/2e7JFpt. Jan 18- The global economic outlook remains shaky, despite recent pockets of resilience, according to the overwhelming majority of economists polled by Reuters who said a rise in protectionist trade policies would hamper growth. That uncertainty is heightened by the signs of a rise in nationalist...