Business News Colombia

  • *Mexico's peso drops 4%, Colombia peso at 4,030. March 12- The Mexican peso plunged 4% to new lows on Thursday, as did other Latin American currencies, while regional stocks nosedived after Washington's surprise move to curb travel from Europe exacerbated fears that the coronavirus pandemic would slam global growth. As oil prices slid, crude exporter Mexico's...

  • BOSTON, March 12- Investment firm Bow Street Capital called on Thursday for the ouster of the chief executive of Mack-Cali Realty Corp. and has nominated four directors to the real-estate investment trust's board in a bid to take control of the 11 member board. Bow Street, which owns roughly 4.5% of Mack- Cali, is agitating anew one year after it won four board seats.

  • SANTOS, Brazil, March 12- Years of rooting out drugs at the Brazilian seaport of Santos had given customs inspector Oswaldo Dias a good nose for suspicious cargo. "Europe is the destination par excellence," said Dias, who retired late last year from Brazil's Federal Revenue Service. Brazil has become one of the top suppliers of cocaine to Europe, transforming the...

  • *Currencies of Colombia, Brazil, Chile at record low. *Brazil's Bovespa stock index drops as much as 10%. March 9- Mexico's peso was set for its worst day in 3-1/ 2 years on Monday and Colombia's peso slumped to a record low as the currencies of major crude oil exporters were hammered after oil lost a third of its value.

  • In the United States, drivers on average lost 99 hours last year due to congestion, the report calculated, two hours more than in 2017. Boston, Chicago, Philadelphia, New York City and Washington led the ranking as the most severely congested U.S. cities. On a global scale, the five most congested cities are Bogota, Colombia, Brazil's Rio de Janeiro, Mexico City,...

  • COLOMBIA'S ECOPETROL SA PLACES TRAVEL RESTRICTIONS FOR ALL EMPLOYEES TO ASIA AND EUROPE DUE TO CORONAVIRUS- CEO.

  • BOGOTA, Feb 20- Uber Technologies Inc resumed transporting passengers in Colombia on Thursday with a new service model that allows users to rent cars with drivers, just 20 days after it exited the Andean country following a ruling by regulators which the company described as arbitrary. Uber said on Feb. 3 it was considering taking the ruling to international...

  • BOGOTA, Feb 17- Colombia's imports fell 2.5% to $4.08 billion in December, from $4.18 billion in the same month the year before, the government's statistics agency said on Monday. Colombia registered a trade deficit of $540.6 million in December, compared with a deficit of $579.9 million in the same period in 2018. December November October Change year-on-year...

  • *Argentina warns of' deep debt restructuring'. Feb 13- The Brazilian real led a charge among Latin American currencies on Thursday when the central bank announced a new intervention but stocks in the region came under pressure as the number of coronavirus deaths and infections surged in China. "I'm sure many people in Brazil will be happy to see any brief relief but...

  • MEXICO CITY, Feb 12- Mexican cement producer Cemex SAB de CV on Wednesday reported a bigger quarterly loss as sales fell in all its markets except the United States, triggering a sharp drop in its shares. The company's net loss widened to $238 million in the fourth quarter, from $37 million a year earlier, while total net sales were flat at $3.3 billion.

  • BOGOTA, Feb 11- Colombia will seek to double its flower exports to $3 billion a year over the next decade by growing new species and expanding to markets in Asia and Latin America, President Ivan Duque said on Tuesday. The announcement of the goal comes ahead of Valentine's Day, the annual high-point of flower exports from the Andean country, which principally...

  • Feb 11- Occidental Corp said on Tuesday its fourth-quarter results would include about $1.7 billion in charges and further cut its spending as the shale producer reduces costs following its $38 billion purchase of rival Anadarko Petroleum. The company now expects to spend between $5.2 billion and $5.4 billion, $100 million below its earlier forecast.

  • Feb 11- Occidental Corp said on Tuesday it expects to record about $1.7 billion in impairment and other charges in the fourth quarter, related to the sale of its stake in gas pipeline operator Western Midstream Partners LP and costs from its Anadarko Petroleum purchase. The charges are expected to be offset partly by a $475 million gain from the formation of a U.S....

  • Latam currencies' losses@ Feb 10- The Colombian peso touched a two-month low on Monday, as crude prices slumped on worries of weaker demand from China following the coronavirus outbreak, while the Brazilian real extended its recent sell-off to touch a new record low. The mood across the developing world was cautious amid fears of a slowdown caused by the epidemic...

  • LAUNCESTON, Australia, Feb 10- The collapse in the spot price of liquefied natural gas in Asia is a short-term phenomenon that may well end up having a longer-term impact, especially on thermal coal. LNG demand in Japan, the world's top buyer of the super-chilled fuel, has also been sluggish amid a warmer than usual winter and the restart of some of its nuclear fleet,...

  • LAUNCESTON, Australia, Feb 10- The collapse in the spot price of liquefied natural gas in Asia is a short-term phenomenon that may well end up having a longer-term impact, especially on thermal coal. LNG demand in Japan, the world's top buyer of the super-chilled fuel, has also been sluggish amid a warmer than usual winter and the restart of some of its nuclear fleet,...

  • CARTAGENA, Colombia, Feb 6- Colombia will seek Latin American investors for its domestic debt to diversify its range of bond holders and improve the liquidity and resilience of the debt market, a finance ministry official said on Thursday. Over the last decade Latin America's fourth-largest economy has mainly sold its bonds- its biggest source of financing...

  • *China to halve tariffs on some U.S. imports. Feb 6- Brazil's real fell 1% on Thursday, reversing early gains made after the central bank signaled a pause in interest rate cuts a day earlier, with other Latin American currencies also coming under pressure from a strong dollar. The real neared a record low hit last week amid fears of the fast-spreading coronavirus in...

  • BOGOTA, Feb 6- Colombia will look to double its meat exports now it has regained its status as a country free of foot and mouth disease, President Ivan Duque said on Thursday. The World Organization for Animal Health, which suspended the Andean country's foot and mouth-free status in August 2018, said on its website that Colombia had fulfilled the requirements to...

  • *Markets hopeful on China's stimulus efforts. Feb 4- Most Latin American currencies and stocks extended recovery on Tuesday, as China's efforts to cushion the impact of coronavirus outbreak encouraged buying of risky, emerging market assets. The news from China, one of Latin America's biggest export destinations, helped push a basket of stocks in the region up...