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Colombia

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  • 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...

  • Private firms filling Latin America's security gap Thursday, 27 Nov 2014 | 12:01 AM ET

    Men claiming to be with the notorious Gulf Cartel had stopped a convoy transporting chemicals through a lawless region of northeastern Mexico. The phone chatter and chirping two-way radios sounded like a police dispatch, but this was the emergency response room of International Private Security, a Mexico- based company that helps clients like PepsiCo, Audi...

  • Colombians protest ban on ride-share company Uber Wednesday, 26 Nov 2014 | 5:32 PM ET

    BOGOTA, Colombia— Furious taxi drivers and loyal users of Uber are butting heads over Colombia's new ban on the ride-sharing company. Amid threats of a strike by yellow taxis who consider cars affiliated with Uber to be "pirates," the Transportation Ministry this week declared illegal all smartphone applications that facilitate the hiring of cabs that aren't...

  • 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.

  • 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.

  • UPDATE 1-Starbucks opens in Colombia, home of Juan Valdez Wednesday, 16 Jul 2014 | 12:53 PM ET

    July 16- Starbucks Corp opened its first shop in Colombia on Wednesday, 43 years after the world's biggest coffee chain first started buying beans from the country famous for its premium arabica coffee named after fictional coffee farmer Juan Valdez.

  • Starbucks opens in Colombia, home of Juan Valdez Wednesday, 16 Jul 2014 | 11:03 AM ET

    July 16- Starbucks Corp opened its first shop in Colombia on Wednesday, 43 years after the world's biggest coffee chain first starting buying beans from the country known for its premium arabica coffee. It and all other Starbucks stores in Colombia will be the company's first to serve only locally sourced coffee.

  • The Australian Bureau of Meteorology this week said Pacific Ocean surface temperatures are at levels associated with a weak El Nino, but the threshold for the weather event has not yet been breached. El Nino could bring dry weather to Australia, which is already struggling with a drought, and it could also curb its wheat, sugar and cotton production.

  • Who would win a World Cup for energy savings? Friday, 20 Jun 2014 | 1:20 PM ET
    Enoh Eyong of Cameroon challenges Jose Juan Vazquez of Mexico in the first half during the 2014 FIFA World Cup Brazil Group A match between Mexico and Cameroon at Estadio das Dunas on June 13, 2014 in Natal, Brazil.

    Using conservation as a baseline, Opower broke down a few World Cup contenders according to their energy policies.

  • 'Cash is still king' in Miami real estate Thursday, 12 Jun 2014 | 2:10 PM ET
    Aerial view of mansions in Coral Gables, Florida.

    The large number of Miami home buyers are from overseas, and a huge portion of them pay in cash, one realtor says.

  • BOGOTA, June 11- Colombia is keeping open the option of selling a 100- year bond this year to finance part of its 2015 budget, the finance minister said on Wednesday, after an investment bank proposed to issue sovereign debt with a century-long maturity last week.

  • Colombian Finance Minister Mauricio Cárdenas Santamaria says resolving the country's drugs issue will help the country post stronger growth.