Business News Colombia

  • BOGOTA, May 23- Colombia received mixed messages from ratings agencies on Thursday, with Moody's revising the country's sovereign outlook to stable from negative, while Fitch went the other way and adjusted the outlook to negative from stable. Fitch said risks to fiscal consolidation and the trajectory of government debt, the weakening of fiscal policy...

  • Secretary of State Mike Pompeo accusing Chinese telecom giant Huawei Technologies of lying about its ties to the government and Beijing saying Washington must end its "wrong actions" if it wanted trade talks to continue. Plunging oil prices took the currency of net crude exporter Colombia down 1.25% to its lowest since February 2016. Among shares, Mexico's IPC...

  • SANTIAGO, May 23- Chile's Supreme Court on Thursday struck down a proposed joint business agreement between LATAM Airlines, the region's largest carrier, and American Airlines, British Airways and Iberia Airlines. Late last year, United Airlines, Colombia's Avianca Holdings and Panama's Copa Airlines announced a joint business agreement to share routes...

  • SANTIAGO, May 23- Chile's Supreme Court on Thursday struck down a joint business agreement between LATAM Airlines, the region's largest carrier, and American Airlines, British Airways and Iberia Airlines, upending an earlier approval by Chilean antitrust regulators. Chilean consumer advocacy group Conadecus appealed the initial regulatory approval last...

  • BHP's only thermal coal assets are the Mount Arthur thermal coal mine in Australia's New South Wales state, and a one-third stake in Colombia's biggest producer, Cerrejon, valued at about $2.5 billion. The company's joint venture with Japan's Mitsubishi Corp in Australia's Queensland state is the world's largest shipper of coking coal.

  • MEXICO CITY, May 22- IKEA, the world's largest furniture seller, will open its first store in Mexico next year and plans to launch other stores around the country, the company said on Wednesday, as it expands in Latin America to counter growing competition in its core U.S. and European markets. Stores in Europe and the United States drive the majority of sales for...

  • MEXICO CITY, May 22- IKEA, the world's largest furniture retailer, will open its first store in Mexico in the fall of 2020, the company said on Wednesday, as the furniture retailer expands in Latin America to counter growing competition in its core U.S. and European markets. Stores in Europe and the United States drive the majority of sales for Inter IKEA Group and...

  • MEXICO CITY, May 22- Private equity firm Colony Latam Partners, part of Los Angeles- based investment group Colony Capital Inc, will invest up to $5 billion in Mexico, Chile, Colombia and Peru over the next several years, executives said on Wednesday. In a bid to seize opportunities despite what it described as an unclear political climate, Colony Latam plans to...

  • BOGOTA, May 22- Colombia's state-run oil company Ecopetrol said on Wednesday its crude exports to the United States rose nearly 25% in the first quarter because of lower supply from neighboring Venezuela and higher production. Colombia is among the top 10 suppliers of crude to the United States. "The main reasons for the good performance of crude oil exports to...

  • FLORENCIA, Colombia, May 22- Colombia's isolated south could be crucial to the country's push to expand coffee production by nearly 30 percent despite low global prices, its growers federation says, as farmers seek to ramp up productivity amid security improvements. Output in Colombia, the world's top grower of washed arabica, has hovered around 14 million 60-...

  • May 22- More than 100 public health and anti-tobacco organizations are calling on Facebook Inc, Instagram, Twitter and Snap Inc to take "swift action" to curb advertising of tobacco products on their platforms. The organizations' letter to the firms cited a recent Reuters report...

  • May 21- A Latin American stocks benchmark rose on Tuesday, boosted by strong gains in index heavyweight Brazil, and the region's currencies firmed broadly against the dollar as frosty U.S.- China ties marginally thawed. The United States late on Monday allowed Huawei Technologies. Sao Paulo- traded stocks surged 2.7%, distancing themselves further from an...

  • May 20- A Latin American stocks benchmark rose on Monday, boosted by shares in index heavyweight Brazil, while Latin American currencies were pressured by the dollar, with risk appetite capped by fears of worsening U.S.- China trade ties. Optimism regarding a proposal to reform Brazil's pension system boosted investor sentiment, while a U.S. crackdown on...

  • election@ May 20- Most Latin American currencies weakened on Monday with Brazil's real giving up early gains and Argentina's peso sliding after a surprise twist in its presidential election. The currencies of Brazil, Colombia and Peru traded between flat to 0.3% lower. Argentina's currency fell 0.9% after the main populist challenger in the presidential...

  • fears@ May 16- Latin American currencies softened on Thursday against a dollar that was strengthened by trade war fears, while a Latin American stocks benchmark fell as losses in index heavyweight Brazil overcame gains on other countries' exchanges. Brazil's real pierced through the 4 reais per dollar mark for the second day in a row. Investor sentiment towards...

  • 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...