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Colombia

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  • NEW YORK, Dec 17- A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company rank among the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba. While the Cuban economy is small, with gross domestic product of roughly $70 billion, according to the World Bank,...

  • Colombian rebels announce unilateral cease-fire Wednesday, 17 Dec 2014 | 3:38 PM ET

    HAVANA— Colombia's largest rebel group announced an indefinite, unilateral cease-fire Wednesday, saying guerrillas will refrain from staging attacks so long as they aren't targeted by the U.S.-backed military. The Revolutionary Armed Forces of Colombia made the announcement in Cuba at the end of another round of peace talks aimed at ending Latin...

  • NEW YORK, Dec 17- A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company are the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba. While the Cuban economy is small, with gross domestic product of roughly $70 billion, according to the World Bank, comparable to...

  • BOGOTA, Dec 10- Bidding to build a long-awaited $6.9 billion subway system in Bogota, Colombia's capital city, will open in the second half of 2015, the mayor said on Wednesday, adding that the project has garnered interest from foreign companies. Now the city has plans to open a first 32 km line serving 27 stations by 2020, mayor Gustavo Petro- considered the...

  • *Good news for robusta growers such as Vietnam, Indonesia. MUMBAI/ SEOUL, Dec 4- Mumbai civil servant Sachin Kenjale regularly ends his day with a steaming cup of instant coffee after trying the drink for the first time with friends around two years ago. Reaching that milestone would underscore a major market shift, with robusta's popularity soaring as increasing...

  • WASHINGTON, Dec 2- Colombia's government rewarded children who showed up for school in Bogota with cash payments for their families, an attempt to reduce high school drop-out rates and encourage university attendance. But the program was less effective until the government made a tweak: some families would receive smaller regular sums and get a bigger payout...

  • Global air ticket fraud sweep nets 118 arrests Friday, 28 Nov 2014 | 8:05 AM ET

    AMSTERDAM, Nov 28- More than 100 people were arrested worldwide this week after an investigation spanning 45 countries into the use of stolen credit cards to buy plane tickets, European police agency Europol said on Friday. The probe, run from Europol's headquarters in The Hague as well as from Singapore and Bogota, Colombia, was aimed at curbing a type of crime...

  • BUSINESS-NEWS-SCHEDULE AT 2000 GMT / 3:00 p.m. ET Thursday, 27 Nov 2014 | 3:00 PM ET

    Oil prices plunge after OPEC decides against output cut. CALGARY- Brent crude oil plunged as much as $6.50 a barrel, and U.S. crude dropped by nearly as much, posting their steepest one-day falls since 2011, after OPEC decided against cutting output despite a huge oversupply in world markets. BOGOTA- Hundreds of thousands of people displaced from their land...

  • BOGOTA, Oct 30- Colombia has room to take on additional debt next year to make up for a shortfall in revenue if the international price of oil continues to decline, Finance Minister Mauricio Cardenas said on Thursday, adding the government would maintain its spending pace. A decline in Colombia's crude output coupled with a drop in price has raised concern in...

  • BOGOTA, Oct 27- Colombia's central bank will hold its benchmark interest rate at 4.5 percent until at least the end of the year because of economic uncertainty at home and abroad, according to a Reuters survey on Monday, while the peso will continue depreciating. "Being conscious of the moderation in local economic growth in the second half of the year, it still...

  • Grupo Aval SA expects to finance around $5.4 billion of the $17 billion the government must raise to pay for the upgrade of 8,000 km of roads in the next five years, Luis Carlos Sarmiento Gutierrez, its president told Reuters after an IPO worth $1.26 billion in New York.

  • Sept 23- Colombian banking group Grupo Aval SA raised $1.26 billion, more than expected, from its initial public offering in New York on Tuesday, and plans to use the funds to bolster its banks' capital. J.P. Morgan Securities LLC, Goldman Sachs& Co, Citigroup Global Markets Inc and Morgan Stanley& Co LLC are underwriting the offering.

  • Sept 23- Colombian banking group Grupo Aval SA raised $1.1 billion after its U.S. initial public offering was priced at $13.50 per American Depositary Share. J.P. Morgan Securities LLC, Goldman Sachs& Co, Citigroup Global Markets Inc and Morgan Stanley& Co LLC are underwriting the offering.

  • Colombian Securities Exchange chief on economy  Thursday, 18 Sep 2014 | 3:15 AM ET

    Juan Pablo Cordoba, president of the Colombian Securities Exchange, says the country has had a "tremendous" growth story that is set to continue.

  • CARACAS, Sept 16- Buses across jungle borders, boats through Caribbean waters and private flights from small airfields have become a new norm for departing Venezuela as a multi-billion dollar pay dispute turns the country into something of a' no-fly' zone.

  • Sept 8- Grupo Aval, Colombia's largest banking group, said it expects to raise $1.1 billion in an initial public offering in the United States. Sarmiento Angulo, 82, also owns Colombia's largest newspaper, El Tiempo, which he acquired in April 2012.

  • BOGOTA, Sept 5- Colombia's coffee production will be between 11.5 million and 12 million 60- kg bags in 2014, up from a previous estimate of 11.4 million bags, the head of the farmer-funded growers' federation said on Friday, thanks to good weather and tree renovation.

  • MEDELLIN, Colombia, Aug 14- Colombian businesses should be prepared for the possibility of a "very strong" depreciation in the peso due to rising U.S. interest rates or some other external shock, central bank chief Jose Dario Uribe said on Thursday. The business sector, all Colombians, "Uribe told an industrial conference in Medellin.

  • MEDELLIN, Aug 14- Colombia should shift its economic engines toward construction, infrastructure and non-tradable sectors to maintain levels of growth, as the oil-driven boom deteriorates, central bank board member Adolfo Meisel said on Thursday.

  • The oil spike that wasn't: Prices defy turmoil Thursday, 14 Aug 2014 | 7:47 AM ET
    Pump jacks and wells on the Monterey Shale formation in California

    The Middle East and other oil-producing countries are hotbeds of instability. So why is oil falling instead of rising?