Business News Colombia

  • *Drug violence has scarred Mexico, rattled companies. *Cautious approach crimps Mexico startup scene. *Mexico received $175 million venture capital in 2018.

  • "It's a pause in the trade wars, but risk markets need a reversal of existing tariffs and a signal that the December ones will get scrapped," wrote Mark McCormick, global head of FX strategy at TD Securities. MSCI's index of Latam currencies fell 0.4%, with Brazil real losing 0.5%, while Chile's currency weakened 0.4% against a firmer dollar. Mexico's federal...

  • Oct 14- Brazil's real led declines among Latin American currencies on Monday as optimism over a partial U.S.- China trade agreement faded with investors looking for more clarity on a resolution. Bloomberg reported on Monday that China wants more talks to hammer out the details, including scrapping the planned tariffs in December, before it signs the partial...

  • Oct 14- Most Latin American currencies weakened on Monday as initial euphoria over a partial trade agreement between the United States and China were tempered by a report that Beijing wants more talks before it signs the deal. Worries stemmed also from dismal trade data from China- one of the main destinations for commodity exports from Latin America.

  • BRUSSELS, Oct 14- The European Union will file a complaint at the World Trade Organization against Colombia over duties imposed on imports of frozen potato fries, EU trade commissioner Cecilia Malmstrom said on Monday. Colombia imposed anti-dumping duties of up to 8% in November 2018 on frozen fries from Belgium, the Netherlands and Germany after complaining...

  • Oct 11- The Mexican peso hit a two-month high on Friday, while Latin American stocks jumped nearly 2% as optimism over U.S.- China trade talks and a Brexit deal spurred a rush for risky assets. Investors are hoping the two sides will agree to a deal that could avert further retaliatory measures, while expectations of a last-minute Brexit deal between the European...

  • President Donald Trump and his top diplomat said on Thursday they supported Brazil's taking steps toward joining the Organization for Economic Cooperation and Development, although it is first backing accession by Argentina. Trump said in a Twitter post that a joint statement he released with Brazilian President Jair Bolsonaro in March "makes absolutely...

  • SAO PAULO, Oct 10- Alphabet Inc's Google expects to triple its customer workforce to support cloud computing services in Latin America by the end of next year, Google Cloud's director in Brazil, João Bolonha, said on Thursday. "This growth has already started and weve been expanding teams in Brazil, Mexico, Chile, Argentina and Colombia," he told journalists at the...

  • BRASILIA, Oct 10- The U.S. government has not formally backed Brazil's bid to join the Organization for Economic Cooperation and Development despite a public endorsement by President Donald Trump, according to two Brazilians who saw a U.S. letter to the OECD. Secretary of State Mike Pompeo backed the bids by Argentina and Romania but made no mention of Brazil.

  • BRASILIA, Oct 10- The U.S. government has not backed Brazil's bid to join the Organization for Economic Cooperation and Development despite a public endorsement by President Donald Trump, according to two Brazilians who saw a U.S. letter to the OECD. Secretary of State Mike Pompeo backed the bids by Argentina and Romania but made no mention of Brazil.

  • SAO PAULO, Oct 10- Alphabet Inc's Google expects to triple its customer workforce to support cloud computing services in Latin America by the end of next year, Google Cloud's director in Brazil, João Bolonha, said on Thursday. "This growth has already started and weve been expanding teams in Brazil, Mexico, Chile, Argentina and Colombia," he told journalists at the...

  • Optimism stemmed from signs of easing hostility in the U.S.- China trade war just a day before high-level trade talks between the two sides are set to begin. Reports said China was still open to agreeing to a partial trade deal with the United States, and that Beijing was offering to increase its annual purchases of U.S. agricultural products.

  • BOGOTA, Oct 9- Some $700 million in investment. spending by oil companies operating in Colombia is frozen. because of contract delays caused by community protests and consultations, slow environmental licensing and court orders, the Colombia Petroleum Association, an industry group, said on Wednesday.

  • SAO PAULO, Oct 7- Brazilian education provider Kroton SA is creating a new holding entity that will oversee four different companies focused on higher education as well as primary and secondary schooling, as part of a broad organizational reshuffle. The holding company, Cogna Educação, will be led by Chief Executive Rodrigo Galindo, who told investors and...

  • Eight of every 10 passengers in Latin America traveling outside the region are bound for North America, according to industry group ALTA. Following its breakup with Chile- based LATAM last month, American Airlines quickly announced new flights next year from Miami to Chile and Peru destinations where the two had been coordinating their routes with...

  • BOGOTA, Oct 7- Latin American airline Avianca said on Monday it will receive a $200 million loan from controlling shareholders United Airlines and Kingsland Holdings Limited after it successfully exchanged hundreds of millions of dollars in bonds. The struggling airline can receive up to $175 million in additional financing from shareholders and other...

  • PESCA, Colombia, Oct 7- A intense scent hangs in the air at the 15- hectare La Chacra medicinal cannabis farm in central Colombia, where marijuana plants blossom in the warm closeness of its huge, heavily-secured greenhouse. Colombia was one of the first countries to regulate the cultivation, commercialization and export of marijuana products.

  • BOGOTA, Oct 5- Colombia's Trasandino pipeline was damaged in a bomb attack, state-run oil company Ecopetrol said on Saturday, spilling crude into a nearby river. The pipeline was not functioning at the time of the attack, which affected the Guamues River, Ecopetrol said. Although Ecopetrol did not name the group responsible for the attack, the leftist National...

  • BOGOTA, Oct 3- Two international consortiums have submitted bids to build the first line of Bogota's metro system, the city's mayor said on Thursday, with one group comprised of Mexican, Spanish and French builders and the second of companies from China and Canada. One consortium is comprised of Mexico's Carso Infraestructura y Construccion and Promotora del...

  • Oct 1- Latin American currencies started October on a weak footing on Tuesday after a surprise downturn in U.S. manufacturing, while uncertainty about the passage of Brazil's pension reforms hurt the country's assets. "This week's U.S. data calendar will be notable in shaping risk sentiment, particularly ahead of the U.S.- China trade talks," wrote Mazen Issa, a...