Business News Colombia

  • BOGOTA, Sept 13- Colombia's coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year's, because of low prices and drought that has impeded output in some mines, the Colombian Mining Association said on Friday. Colombia produced 18.9 million tonnes in the second quarter, the government said last week, down 4.5% from the same...

  • Brazil appears to be turning a corner after its $1.8 trillion economy went into reverse earlier this year, despite the mounting global strains caused by U.S. That is because the channels of contagion for Brazil's economy- economist-speak for its weak spots- are not through trade, which accounts for a small share of economic activity. Yet the contagion could soon...

  • Hammock-Exit-Plan-Retire-Abroad-Costa-Rica-CNBC.jpg

    A new report by International Living, a guide to retirement abroad, ranks the best destinations by their weather. The locales at the top feature steamy beaches as well as cooler highlands.

  • United Airlines and Kingsland Holdings Limited, which between them control Avianca, said in a joint statement that results of the exchange thus far were sufficient for it to give the airline up to $250 million in additional financing. "We are also pleased to confirm that this achievement is sufficient to satisfy United's requirement for the exchange of these...

  • BOGOTA, Sept 12- Two overnight bombings have damaged Colombia's Cano Limon pipeline, state-run oil company Ecopetrol said on Thursday, one spilling "highly volatile" oil into a river in the eastern province of Norte de Santander. Eighteen have taken place in Arauca province and 14 in Norte de Santander. Although Ecopetrol did not name the group responsible, the...

  • BELO HORIZONTE, Brazil, Sept 11- New safety standards being drawn up by a global mining industry panel will include rules to better define management accountability after Vale SA's January tailings dam disaster, a top industry official said on Wednesday. The governance standards would help ensure independent reviews of dams and adequate disclosure of risks,...

  • Investors perceived a conciliatory move from China to exempt 16 types of U.S. products from additional retaliatory tariffs for a year as a positive step in the trade war between Washington and Beijing. Stock indices in Mexico and Colombia gained between 0.3% and 0.4%. Colombia is slated to take out nearly 19.2 trillion pesos in new debt to finance next year's...

  • MADRID, Sept 11- The world's biggest fashion retailer, Inditex, reported strong first-half sales growth on Wednesday, buoyed by good summer weather in Europe, while confirming its sales targets for the full year. E-commerce giant Amazon has become the most-shopped clothing retailer in the United States, measured by the number of customers, according to...

  • BOGOTA, Sept 10- Colombia's top administrative court maintained a temporary moratorium on the use of fracking on Tuesday, stymieing potential pilot projects amid ongoing arguments in a wider case regarding the use of the technique to extract oil and gas. The decision by three magistrates from the Council of State, which is tasked with ruling on administrative...

  • BOGOTA, Sept 10- Colombia will take out more debt to finance its 2020 budget, which is lacking 8 trillion pesos in funding, Finance Minister Alberto Carrasquilla said on Tuesday. Carrasquilla had earlier on Tuesday told Congress that the country would take out some 19.2 trillion pesos in new debt to finance next year's budget, without specifying whether the...

  • Major lenders including Banco Bradesco SA, Itau Unibanco Holding SA and Banco do Brasil SA dropped about 2% each after Brazil's government cut its annual inflation forecast, pointing to further monetary easing in Latin America's largest economy. The MSCI's index of Latin American stocks retreated about 0.3%, with shares in Mexico and Colombia in the red...

  • BOGOTA, Sept 10- Colombia will take out some 19.2 trillion pesos in new debt to finance next year's budget, Finance Minister Alberto Carrasquilla told Congress on Tuesday, without specifying whether the funds would come from bonds, loans or other sources. The government has previously said it would issue local bonds worth 30.1 trillion pesos in 2020, take out...

  • Central bank chief Roberto Campos Neto previously had flagged more room for monetary easing if inflation remained tepid. Finance Minister Arturo Herrera said state-oil firm Pemex is exploring opening a bidding process for public-private contracts in order to ensure the debt-laden firm has enough money to invest and manage its debt profile.

  • BOGOTA, Sept 10- Economist and former International Monetary Fund official Roberto Steiner will join Colombia's seven-member central bank board, President Ivan Duque said on Tuesday. Steiner, 60, spent some of his early career at the central bank, rising to director of its research department after getting masters degrees in economics from Columbia...

  • Brazil's real eased from two-week highs hit last week to drop 0.9%, while currencies of Mexico, Chile and Colombia fell between 0.2% and 0.5%. Markets in the resource-rich Latin American economies had taken a beating in August as the United States and China escalated their trade dispute with additional tariffs on each other's goods, with growth dwindling in...

  • bets@ Sept 6- An index of Latin American currencies rose on Friday, on track to record its first weekly gain in seven weeks, as China's move to boost lending boosted their appeal to investors, as did slower U.S. job growth. Signs of resumption in U.S.- China trade talks and easing political tensions in Asia and Europe this week prompted investors to buy back into...

  • Sept 6- The owner of a telemarketing company implicated in the largest component of a $1.2 billion Medicare fraud involving the supply of medically unnecessary orthotic braces pleaded guilty to criminal charges on Friday, the U.S. Department of Justice said. Lester Stockett, the owner of Video Doctor USA and Telemed Health Group and chief executive of...

  • Sept 5- Facebook Inc is launching its dating services in the United States, the social network said on Thursday, sending its shares up 2%. The company said users will be able to integrate their Instagram accounts with Facebook's dating profile and add Instagram followers to their "Secret Crush" lists. The launch marks a major expansion of Facebook's dating...

  • BOGOTA, Sept 5- Colombian regulators on Thursday ordered popular delivery app Rappi to comply with electronic commerce laws, saying the company is offering services that go beyond basic contact between clients and suppliers. The Superintendency of Industry and Commerce also said it was opening an investigation of the app- which specializes in on-demand...

  • flat@ Sept 4- Latin American currencies and stocks rose on Wednesday as cooling political tensions in Hong Kong and Italy prompted inflows into risky assets, helping keep Argentine markets steady after the newly imposed capital controls. Emerging markets were also helped by British lawmakers approving a law to delay taking Britain out of the European Union...