Business News Colombia

  • BOGOTA, Sept 4- Colombia in November will launch a $23.2 billion holding company comprising 19 companies in which the government has stakes, including banks focused on agriculture and exports, to boost efficiency and improve portfolio management, it said on Wednesday. The effort follows recommendations for better governance from the Organization for...

  • BOGOTA, Sept 4- When Colombian businessman Christian Ulloa heard that former members of the FARC rebels had rejected a peace deal with the government and launched a new offensive, he could not help but feel alarm. Two decades ago, Ulloa's father was held captive for seven months by the Revolutionary Armed Forces of Colombia, a Marxist rebel group that financed...

  • Latin America's top currencies are, however, poised to remain weak in coming months as central banks in Brazil and Mexico keep easing to revive growth, with worries over Argentina's financial condition adding to a softer trend, a Reuters poll showed. Sao Paulo- traded stocks rose over 1%, boosted by Petrobras which rose nearly 3% after Brazil's Senate approved an...

  • Aug 29- Latin American stocks rose on Thursday as Beijing's latest comments signalled a hopeful resolution to the trade dispute with Washington, but Argentina's plan to re-profile nearly $100 billion of its existing debt put its assets under pressure. MSCI's index of Latin American stocks rose 2% with Brazil's Bovespa leading gains helped by shares of miner...

  • Aug 29- Argentine venture capital group Kaszek Ventures said on Thursday that it had raised $600 million through two funds, adding to a wave of new money entering Latin America's burgeoning startup scene. Japan's SoftBank Group Corp earlier this year launched a $5 billion fund focused on Latin America, prompting other venture capital firms to take a more...

  • BOGOTA, Aug 29- Expectations for Colombian inflation have risen amid persistent pressure on food prices and new concerns over the depreciation of the local peso currency, which is trading at record lows against the dollar, analysts in a Reuters poll said on Thursday. "The intensity and persistence of the supply pressures indicate that inflation will end the...

  • plan@ Aug 29- Latin American stocks gained ground on Thursday after China said it hoped for a de-escalation of trade tensions with the United States, although a firmer dollar pressured most regional currencies. However, all the spotlight was on Argentina's markets after the government announced plans to "reprofile" about $100 billion of its debt on Wednesday.

  • President Donald Trump during a news conference at the end of the G-7 summit in Biarritz, France, August 26, 2019.

    The U.S. did not agree to the G-7's $22 million fund to help control fires in the Amazon rainforest, a White House official has claimed.

  • Aug 28- Latin American currencies weakened against the dollar on Wednesday amid worries about the U.S. economy slipping into recession in the face of a bruising trade war with China. A deepening inversion of the U.S. yield curve, considered a classic recession signal, raised fears of global economic downturn as the United States and China showed little signs of...

  • BOGOTA, Aug 27- A World Bank tribunal has ordered Colombia to repay a $19 million fine it levied on Glencore's coal mining subsidiary Prodeco but declined the company's petition for $575 million in damages, the government said on Tuesday. Glencore had asked the World Bank's International Center for Settlement of Investment Disputes to award it damages after...

  • BRASILIA/ PORTO VELHO, Brazil, Aug 25- Brazilian warplanes are dumping water on the burning forest in the Amazon state of Rondonia, responding to a global outcry over the destruction of the world's largest tropical rain forest. A video posted by the Defense Ministry on Saturday evening showed a military plane pumping thousands of liters of water out of two giant...

  • BRASILIA, Aug 25- Brazilian warplanes are dumping water on the burning forest in the Amazon state of Rondonia, responding to a global outcry over the destruction of the world's largest tropical rain forest, according to a government video. The response comes as leaders of countries in the Group of Seven nations currently meeting in France expressed grave...

  • *China unveils retaliatory tariffs on U.S. goods. *Trump tells U.S. companies to seek alternatives to China. Aug 23- Latin American assets fell on Friday to their lowest levels so far this year, as another escalation in the U.S.- China trade war and worries over Mexico's growth kept investors on the edge.

  • *Brazil, Vietnam outstrip rivals in productivity growth. SAO JOAO DA BOA VISTA, Brazil, Aug 22- A towering machine rumbles through the fields of Julio Rinco's farm in the Brazilian state of Sao Paulo, engulfing whole coffee trees and shaking free beans that are collected by conveyor belts in its depths. With increasing use of mechanization and other new...

  • BOGOTA, Aug 21- Pipeline company Oleoducto de Colombia is ready to move increased crude output from the center of Colombia to the Caribbean if the use of fracking is approved in the Andean country, the company's chief executive said on Wednesday. "The evacuation and transport systems of the pipeline are ready to receive an incremental production via fracking,"...

  • *Argentina stocks slump, peso rises on c.bank action. The new treasury minister, Hernan Lacunza, further sought to calm investors assuring the country will stand by its 2019 fiscal targets agreed with the International Monetary Fund, and work to stabilize its currency. "Potentially this new guy will be in office for only three months so I don't think he'll be able...

  • *Mexico stocks rise on hopes of pipeline deal. *Brazil's real hits 3- month low. Stock indices in Chile and Colombia also rose as equities worldwide came off a rough week, marked by worries about an escalation in the U.S.- China trade war, global economic slowdown fears and turmoil in Argentine markets.

  • Aug 15- Colombia's Avianca Holdings said on Thursday that internal investigators are looking into potential bribery, as the airline had in the past given free tickets and free upgrades to government officials of several countries. The company, which is traded in the United States, said in a securities filing that it had notified the U.S. Department of Justice...

  • BOGOTA, Aug 15- Colombian investment holding company Grupo Argos will increase its tranche for potential bond releases by 850 billion pesos, the company said on Thursday. The increase will bring the total potential tranche of ordinary and commercial paper that could be released by the company to 2.35 trillion pesos, of which 1.35 trillion has already been...

  • LIMA/NEW YORK, Aug 14- Latin American cocoa could soon demand a minimum price of $3,200 per tonne if a proposal from Peru finds support at a gathering of regional producers on Thursday, one month after their counterparts in West Africa announced a shift in how they price beans. Support for a price floor in Latin America has grown since West Africa's pricing reform,...