Business News Colombia

  • SAO PAULO, May 13- Brazilian airline Azul SA on Monday made a new attempt to purchase some of bankrupt airline Avianca Brasil's most coveted routes, offering $145 million and reversing a decision not to participate. Azul had been interested in Avianca Brasil's slots because it would allow the carrier to break into the profitable route between domestic...

  • SAO PAULO, May 13- Brazilian airline Azul SA on Monday made a new attempt to purchase some of bankrupt airline Avianca Brasil's most coveted routes, offering $145 million and reversing a decision not to participate. Azul had been interested in the slots because it would allow the carrier to break into the profitable route between domestic airports in Sao Paulo...

  • BOGOTA, May 9- Low-cost airline Viva Air, which operates in Colombia and Peru, said on Thursday it is has received a $50 million investment from U.S. capital fund the Cartesian Capital Group, which it will direct toward expansion plans. "The fact that a fund of Cartesian Capital Group's magnitude has chosen to invest in Viva Air confirms that the work we have done in...

  • PARIS, May 9- French supermarket chain Casino Guichard Perrachon SA, which has been selling assets to cut debt and reassure investors, said on Thursday it was reviewing strategic options in Latin America. Casino also owns wholesale chain Assai and electronics and appliance retailer Via Varejo in Brazil, and supermarket chain Grupo Exito in Colombia, Argentina,...

  • BRASILIA, May 9- Long-term foreign investment of well over $100 billion a year is ready to pour into Brazil if the government passes business-friendly reforms, according to some economists, providing fuel for an economy that failed to take off following a brutal 2015-16 recession. Brazil ranks second only to China among emerging markets in terms of drawing...

  • President Donald Trump warned that a trade deal with China was in serious danger, pushing investors away from riskier assets. China has reportedly asked the United States to meet halfway to salvage a deal that would end their protracted trade war that has roiled financial markets since last year. MSCI's index of Latin American stocks fell 1.5 percent with...

  • PARIS, May 9- French supermarket retailer Casino, which has been selling assets to cut debts and reassure investors, said on Thursday it was reviewing its strategic options in Latin America. Casino also owns Assai and Via Varejo in Brazil, and Grupo Exito in Colombia, Argentina, Uruguay and Chile. Latin America, and particularly Brazil, is a key contributor to Casino...

  • BRASILIA, May 9- Long-term foreign investment of well over $100 billion a year is ready to pour into Brazil if the government passes business-friendly reforms, according to some economists, providing fuel for an economy that failed to take off following a brutal 2015-16 recession. Brazil ranks second only to China among emerging markets in terms of drawing...

  • PARIS, May 9- French supermarket retailer Casino, which has been selling assets to cut debts and reassure investors, said on Thursday it was reviewing its strategic options in Latin America. Casino also owns Assai and Via Varejo in Brazil, and Grupo Exito in Colombia, Argentina, Uruguay and Chile. Latin America, and particularly Brazil, is a key contributor to Casino...

  • The latest round of U.S.- China trade talks start on Thursday, the results of which will broadly set the tone for Latin American markets. MSCI's index of Latin American stocks rose 1.5%, with shares in index heavyweight Brazil gaining as Economy Minister Paulo Guedes made the case for pension reform to lawmakers at a special committee hearing in Congress.

  • May 7- Latin American stocks extended losses on Tuesday as trade tensions between the United States and China continued to dampen risk sentiment, while currencies of net crude exporters in the region fell on lower oil prices. President Donald Trump's threat to raise tariffs on Chinese imports, officials from Beijing are expected at talks in Washington this...

  • BOGOTA, May 6- Colombia's state-run oil company Ecopetrol said on Monday its first quarter net profit was 2.745 trillion pesos, 5 percent higher than in 2018, helped by an increase in output, sales and greater operating efficiencies. Ecopetrol has said it will invest between $3.5 billion and $4 billion in 2019, more than its spending in 2018, as part of an...

  • May 3- Latin American stocks and currencies rallied on Friday as robust labor data from the United States calmed nerves over fears of sluggish global growth, days after the U.S. MSCI's index of Latin American stocks jumped 1 percent, with most regional indices climbing, led by Brazil's Bovespa. "The very strong U.S. labor report has provided the lift we see today...

  • SAO PAULO, May 2- Brazilian airline Azul SA has registered to participate in a bankruptcy auction for the assets of struggling carrier Avianca Brasil scheduled for next week, potentially walking back a previous decision not to participate. The auction has caused much tension among Brazil's top 3 airlines, including Azul. An initial plan would have had Azul take...

  • Federal Reserve kept interest rates steady and its Chair Jerome Powell said policymakers saw no strong reason to raise or lower rates. Powell's comments prompted interest rate markets to reduce the priced-in expectation of seeing lower U.S. borrowing costs There was nothing from the policy statement or the press conference to indicate the Fed was...

  • LAUNCESTON, Australia, May 2- Coal exporters suffered a poor April with seaborne volumes dropping from the previous month amid slack demand, but the overall picture for the industry so far this year isn't quite as gloomy as it may appear. However, it's worth noting that the Newcastle weekly price, as assessed by Argus Media, has rebounded in recent weeks, lifting...

  • LAUNCESTON, Australia, May 2- Coal exporters suffered a poor April with seaborne volumes dropping from the previous month amid slack demand, but the overall picture for the industry so far this year isn't quite as gloomy as it may appear. However, it's worth noting that the Newcastle weekly price, as assessed by Argus Media, has rebounded in recent weeks, lifting...

  • MSCI's index of Latin American stocks fell 0.7%, on the back of declines in Mexico and Brazil, whose stocks have the largest weighting on the benchmark. However, the likelihood of dollar sales signaled by Argentina's central bank on Monday, as it aims to temper volatility in the peso, continued to support the currency on Tuesday and underpin sentiment towards...

  • Mexico's peso and Brazil's real both fell over 0.3%, while Chile's peso logged its ninth day of declines in ten as prices of copper- Chile's main export, fell. Volatile oil prices took their toll on net crude exporter Colombia's currency which touched its lowest since early January. This was previously not allowed under the country's $56 billion standby...

  • Bogota- based Avianca Holdings is the larger, better-known airline and licenses its brand for free to two smaller airlines owned by the Efromovich brothers, one in Brazil and one in Argentina. The disclosures were made by Avianca Holdings in its annual report filed with the U.S. Securities Exchange Commission on Monday. Avianca Holdings and Avianca Brasil had...