Business News Colombia

  • FX@ Jan 23- Brazil stocks scaled an all-time high on Wednesday and the currency firmed, boosted by the country's economy minister reiterating that much needed pension reforms remained the government's top priority, while a weaker dollar helped some other Latin American currencies rise. In Brazil, the real rose 1.3 percent and posted its biggest one-day gain in...

  • NEW YORK, Jan 23- Colombia launched on Wednesday a two-part $2 billion bond, with the book oversubscribed more than six times, a banking source said. Last October, Colombia priced a 10- year offering at T +140 basis points. Joint managers on the deal are BNP Paribas, Bank of America Merrill Lynch and Morgan Stanley, according to a document filed to the Securities and...

  • LONDON, Jan 23- British trade minister Liam Fox will use a two-day trip to the World Economic Forum in Davos to meet ministers from around the world to discuss rolling over existing EU trade agreements after Britain leaves the bloc. With little time left until the United Kingdom is due to leave the European Union on March 29, there is no agreement in London on how and...

  • LONDON, Jan 23- British trade minister Liam Fox will use a two-day trip to the World Economic Forum in Davos to meet trade ministers from around the world to discuss rolling over existing EU trade agreements after Britain leaves the bloc, his office said. With little time left until the United Kingdom is due to leave the European Union on March 29, there is no...

  • SAO PAULO, Jan 17- Brazil's aviation regulator said on Thursday it was going to ground 10 planes operated by Avianca Brasil, 20 percent of its fleet, prompting the carrier to go to court seeking to prevent the decision being enforced. Avianca Brasil said in a statement that the announcement by ANAC was "in disagreement with the judicial decision" in a Sao Paulo...

  • CARACAS, Jan 16- Yusneiker and Anthonella have been living with their grandmother since their father left Venezuela and its collapsing economy last year for Peru, to try and earn enough to feed them. Two years earlier, their mother fled for the Dominican Republic for the same reason. Yusneiker, 12, and Anthonella, 8, are eating better thanks to hard currency...

  • BOGOTA, Jan 15- Colombia will not overhaul its pension system this year as the government needs time to analyze its impact before submitting the bill to Congress, the minister of labor said on Tuesday. "If we want to study it fully and make the reform as good as possible, and for it to be truly structural, this reform cannot happen this year," Labor Minister Alicia Arango...

  • GENEVA, Jan 14- Venezuela has launched a complaint at the World Trade Organization to challenge Colombia's restrictions on the distribution of liquid fuels imported from Venezuela, a filing published by the WTO showed on Monday. Venezuela said Colombia was illegally discriminating against its fuel exports by imposing "a series of distribution and...

  • LEKU, Ethiopia/ LONDON, Jan 14- In the verdant southern highlands of Ethiopia, coffee farmer Gafeto Gardo is thinking about calling time on an industry that has sustained families for generations. Over the past year, the amount Gafeto gets for a kilogram of coffee beans has fallen a third to 8 birr, or just 29 cents, reducing his income from a cappuccino sold in the West...

  • stance@ Jan 11- Latin American stocks slid amid profit taking on Wall Street on Friday, but were on pace to log a positive week with Brazil's Bovespa hitting record highs. Brazil's benchmark index Bovespa hit several record highs during the week approaching the 94,000 mark, as President Jair Bolsonaro's proposed reforms buoyed investor sentiment.

  • SAO PAULO, Jan 11- Aircastle is set to repossess 10 jets from Avianca Brasil, the country's No. 4 airline, after a bankruptcy hearing on Monday, a source familiar with the matter said, potentially disrupting flights for thousands of passengers. The 10 Airbus A320 planes represent 20 percent of Avianca Brasil's current fleet, according to data provided by Brazil's...

  • crowd@ Jan 11- Latin America stocks eased on Friday, following U.S. equities lower, but remained on track for a third straight weekly rise while Latin American currencies lost ground. Markets in Latin America and beyond have been lifted this week as U.S. Also helpful was U.S. officials saying they expect China's top trade negotiator may visit Washington this month,...

  • BOGOTA, Jan 9- Colombian state-run oil company Ecopetrol said on Wednesday there were two bomb attacks overnight on the Cano Limon pipeline in western Antioquia province, four days after a similar attack halted pumping. Although Ecopetrol did not name the group responsible, military officials say bombings are usually carried out by leftist rebels of the...

  • WASHINGTON, Jan 8- World Bank Group President Jim Yong Kim will join Global Infrastructure Partners, a private equity fund that invests in projects in wealthy and developing countries, the firm said on Tuesday, a day after Kim's shock resignation from the bank. Kim, who joins New York- based GIP on Feb. 1 as a partner and vice chairman, has accepted a one-year ban from...

  • SAO PAULO, Jan 8- Sales and production of Brazilian automobiles grew last year, cementing the industry's recovery from a deep recession despite the sector's sluggish performance in the final months of 2018, the national automakers' association said on Tuesday. Brazil was one of the world's five biggest auto markets until a recent downturn and remains a major...

  • Kim told World Bank employees in an email that he was leaving the world's largest lender and donor to poor and middle-income countries on Feb. 1 to join a private-sector firm focused on infrastructure investments in the developing world. Georgieva, a Bulgarian national, had previously held senior European Union posts after serving 15 years at the World Bank,...

  • Jan 4- Latin American stock markets rallied on Friday with Brazil's benchmark index notching a record-high close for the third straight day as investors cheered fresh U.S.- China trade talks, a strong U.S. payrolls report and a perceived dovish stance from the U.S. Equities around the globe rallied as U.S. employment data pointed to economic strength and on...

  • Jan 3- The Mexican peso weakened on Thursday as investors sought safe haven assets on worries about slowing global economic growth, but Brazil's real bucked the trend due to expectations for policy reform by the country's new government. The real firmed 0.6 percent to a six-week peak against a weaker dollar, after rising more than 2 percent on Wednesday, as newly...

  • HAVANA, Dec 28- Cash-strapped Cuba plans fresh austerity measures and will pressure the sluggish bureaucracy to tighten its belt and cut red tape to address weak growth, falling export earnings and rising debt. We cannot spend more than we earn, "Economy Minister Alejandro Gil Fernandez said at a session of the National Assembly last week. Cuba last reported its...

  • Mexico's main stocks index fell 0.2 percent but its peso firmed 0.4 percent, supported by news the country's congress approved the budget for 2019 presented by new President Andrés Manuel López Obrador's government. However, there was little liquidity in trade in the currency of Latin America's second-largest economy, with Refinitiv Eikon data showing...