Business News Colombia

  • July 16- Latin American currencies were lower on Tuesday against a strong dollar, with Mexico's peso leading losses as investors tried to assess a new plan unveiled by the government for debt-laden oil firm Pemex, while equities in the region moved higher. Other currencies in the region, including Chile's and Colombia's peso, slid as the dollar gained on the back...

  • BOGOTA, July 14- Colombia has put a patch of banana crops in the north of the country under quarantine on suspicion they are infested with a fungus that is seen as potentially devastating to the country's banana exports, the agriculture minister said on Sunday. Colombia is one of the world's leading banana exporters after Ecuador, Costa Rica and Guatemala.

  • NEW YORK/ LONDON, July 12- Arabica coffee futures on ICE eased on Friday, with the outlook for Brazil's 2020 crop remaining favorable despite last weekend's frost, while August white sugar tumbled to an 11- month low ahead of the contract's expiry next week. *Much of the week's losses occurred on Monday, when prices fell sharply as early assessments of a weekend...

  • BOGOTA, July 12- Colombia, the world's top supplier of washed arabica, is creating a special fund to subsidize coffee farmers when production costs fall below international prices. The global price crisis has pushed large numbers of them out of business, with potentially wide-ranging implications in Colombia, where coffee is the chief alternative crop to coca,...

  • BOGOTA, July 12- European planemaker Airbus SE plans to sell more than 1,000 new passenger planes in the next 15 years in Latin America and the Caribbean, meeting about half the demand expected in the region, an executive of the company told Reuters. More than 700 Airbus planes already operate in Latin America and the Caribbean- about 60% of the fleet in service.

  • CAMPINAS, Brazil, July 11- Participants of the 2nd World Coffee Producers Forum said in a final declaration on Thursday that they would form a legal entity to manage actions in their quest for better pay for producers, including the launch of a platform to increase market transparency. In the declaration, the WCPF said the platform will "aggregate and make...

  • BOGOTA, July 9- The government of Colombian President Ivan Duque has started a plan sell off public stakes in low-profit companies, expecting to generate more than $1.9 billion a year for more lucrative investments, a finance ministry official told Reuters. Different state entities in Colombia, from large government ministries to small state agencies, own...

  • CAMPINAS, Brazil, July 10- Colombia proposed on Wednesday that coffee producing nations form an association to have a stronger influence in the coffee market, as producers from around the world meet in Brazil to discuss the economic sustainability of coffee production. "We need action, because the problem is clear: there are 25 million coffee producers that can...

  • Latam FX@ July 10- Expectations of passage of a landmark pension reform bill in Brazil's lower house pushed Sao Paulo stocks to historic highs on Wednesday, while Latin American currencies benefited from a softer dollar after Fed chair Jerome Powell's dovish comments. The Bovespa rose more than 1% helped by optimism over the pension reform bill, with the lower...

  • July 9- Mexico's peso and stock market fell on Tuesday after Finance Minister Carlos Urzua quit abruptly with a scathing resignation letter, while trading volumes for the rest of region were muted, with markets closed in Brazil and Argentina. Both pared losses after President Andres Manuel Lopez Obrador appointed deputy finance minister Arturo Herrera to...

  • GENEVA, July 4- The United States and 15 other countries launched a broadside of criticism at the European Union on Thursday, saying its "hazard-based" approach to regulating pesticides and other "critical tools" used by farmers was damaging livelihoods worldwide. Their statement, submitted to the World Trade Organization, said the EU's approach created great...

  • head ECB@ July 3- Amid growth worries, Latin American currencies were quiet against a steady dollar on Wednesday as investors gauged the implications of the nomination of the IMF's Christine Lagarde to head the European Central Bank. The nomination of Lagarde is a big surprise, wrote Mark McCormick, global head of FX strategy at TD Securities.

  • BOGOTA, July 2- Colombia, the world's leading grower of washed Arabica coffee, called on Tuesday for an international base price of $2 per pound so that producers can have a guaranteed income that would prevent farmers abandoning the sector. said the head of the National Federation of Coffee Growers, Roberto Vélez, at a fair trade conference in Bonn, Germany.

  • SAO PAULO, July 1- After an unusual number of explosions, several Brazilian power transmission companies have started removing a piece of equipment made by General Electric Co, a blow for GE's Brazil unit as it battles competing suppliers from China and India. Brazil's grid operator ONS recommended replacing GE's CTH-550 transformer model after registering...

  • July 1- Most Latin American currencies and stocks made a positive start to the second half of the year on Monday as the United States and China agreed to revive trade negotiations after a long lull, spurring investment into riskier assets. President Donald Trump offered concessions to China on Saturday when he met Chinese President Xi Jinping at the G20 summit,...

  • The Trump administration had failed to take any action against Colombia for failing to abide by labor commitments under the 2012 U.S.-Colombia Trade Promotion Agreement, they said, despite a host of issues documented by labor leaders and the U.S. Department of Labor. The Trump administration is pressing Congress to ratify a U.S.- Mexico- Canada trade...

  • June 27- Most Latin American currencies dipped on Thursday as news flow from the White House dampened optimism around a China-U.S. trade deal, while Brazil's real reversed course to trade higher. Currencies of Colombia, Chile and Argentina fell between 0.07% and 0.3% against a dollar that held steady as traders moved to the sidelines ahead of this weekend's G20...

  • *AMF continues probe on Casino, Muddy Waters. PARIS/ BRASILIA, June 27- French retailer Casino, grappling with high debts, on Thursday unveiled plans to simplify the complex shareholding structure of its Latin American operations to try to boost the value of the business. The restructuring would result in Casino controlling its Latin American business in Brazil,...

  • Nicolas Maduro, Venezuela's president, waits to greet Michelle Bachelet, high commissioner for human rights at the United Nations, not pictured, at Miraflores Palace in Caracas, Venezuela, on Friday, June 21, 2019.

    Venezuelan President Nicolas Maduro said security forces had foiled an opposition coup attempt that included plans to assassinate him.

  • down@ June 26- Latin American stocks mostly fell and Brazil's real traded flat on Wednesday, while most other regional currencies firmed on measured optimism around the Sino-U.S. trade dispute. Mexico's peso firmed 0.5% after three days of losses, while Colombia's currency rose 0.1% with support from rising oil prices. Treasury Secretary Steven Mnuchin's...