Brazilian investment bank BTG Pactual is strengthening its presence in Latin America, paving the way for broader banking operations in Chile and Colombia. In the next few weeks, BTG Pactual will apply for a banking license in Colombia, where it already operates as a broker-dealer, said Mateus Carneiro, a partner at BTG Pactual responsible for integration in Latin America. It also expects approval from Chilean authorities to operate a local bank before the second half of the year, he said.
… While United States’ investors have been singing Colombia’s praises for several years, they’ve been primarily focused on two things: the country’s improved security situation and opportunities in energy and mining. But Colombia is also earning a reputation for sound economic policy – one that’s helped it weather global economic turbulence better than many of its neighbors.
Argentina, once the third-strongest economy in the western hemisphere, extended its decades-long decline by ceding the No. 3 spot among Latin American economies to Colombia later this year…
Sacyr expects to invest around $1.5 billion in road projects in Colombia, the CEO of the Spanish construction company, Manuel Manrique, said at the end of a visit to the South American country. Sacyr views Colombia as a country that offers opportunities and is a "key to its international growth process," Manrique said in a statement. "We see Colombia as a totally attractive country for foreign investment and strongly believe that our participation in the different infrastructure sectors will bring innovation, development and the best practices to the market," the Sacyr CEO said.
Colombia's economy grew 4.3 percent in 2013, one of the fastest rates in Latin America, beating market expectations on momentum driven by nearly a year of low interest rates.
Today, Colombia boasts the region's third-largest economy and a growing middle class ... Colombia has become Florida's No. 2 trading partner and a potential investment hot spot for Metro Orlando, home to nearly 38,000 Colombians.
Unlike in the United States, where technology has helped create new divisions between rich and poor, Colombia wants to use the Internet to close the wealth gap.
Many investors have been stampeding out of emerging-market bonds, but they’re falling in love with Colombia.
Minister of Commerce, Industry, and Tourism, Santiago Rojas Arroyo, upheld that average growth maintained itself this year, like the three previous years. Colombia will reach the goal of four million international travelers, keeping in mind that currently the completed percentage is 93%.
Colombia, along with fellow Pacific Alliance members Chile, Mexico and Peru, are embracing free trade and working to diversify exports. Colombian Finance Minister Mauricio Cárdenas spoke to The Wall Street Journal about his country's strong growth prospects despite the tapering of the U.S. Federal Reserve's bond-buying program and a slowdown in China.
Colombia's finance minister said some $12 billion in investment on infrastructure projects this year will boost this Andean country's gross domestic product even as the U.S. signals an end to easy-money policy and some analysts predict a drop in commodity prices.
Foreign direct investment in Colombia's mining sector grew 21 percent in the first nine months of 2013 from the same period of 2012, President Juan Manuel Santos said.
Colombia will for the first time auction areas potentially containing non-conventional or shale crude in its 2014 oil round in July that it is launching on Wednesday as it seeks to sustain a wave of foreign investment into the sector. Latin America's No. 4 oil producer aims to raise around $2.6 billion by selling more than 22 million hectares for exploration and production at the July 23 auction, the National Hydrocarbons Agency (ANH), which is overseeing the auction, has said.
US-based networking company Cisco (Nasdaq: CSCO) sees strong growth opportunities in Colombia, and is aiming to double its revenues in the country within the next three years, the company's newly appointed general manager for Colombia, Christian Onetto, told BNamericas.
Heads of state from South America's Pacific Alliance, comprised of Chile, Colombia, Mexico, and Peru, signed a deal on Monday that will scrap nine-tenths of tariffs on goods and services traded between them.
By 2007 the world did not know the moderate acidity of Colombian gulupa, a native Brazilian fruit that belongs to the same family as the passion fruit. Currently, almost 3,000 tons of this fruit are being exported to Europe, Asia and America. Six years ago exports only amounted to 523 tons. Exports of Gulupa increased by five throughout the last six years from $3,954 million in 2007 to $20,455 million between January and September 2013.
Israel has been accepted as an observer state to the Pacific Alliance, a trade bloc grouping four of Latin America's fastest-growing economies, officials said Tuesday.
Latin America's most open economies signed a free-trade pact on Monday in an effort to firm their ties and raise commerce with Asia, a move that also creates a counterbalance to their colossal neighbor Brazil. The so-called Pacific Alliance between Mexico, Colombia, Peru and Chile aims to make 92% of the four countries' goods tariff-free, while phasing in the remaining 8% over the coming years. The accord creates a market of some 210 million people, bigger than Brazil's, with a combined economic output equal to 35% of the total GDP of Latin America and the Caribbean.
The presidents of four nations collectively responsible for half of Latin America's economic output have signed an accord to eliminate tariffs on 92 percent of the products they trade.
…Well, now that Argentina has officially devalued its currency, the Colombians are at it again. “I think we have settled the question, even if the difference is small,” Mauricio Cardenas, Colombia’s finance minister, told beyondbrics in a recent interview. Using the latest GDP estimates for each country (from the third quarter of 2013), he reckons Colombian GDP stands at $344bn versus Argentine at $338bn. Goal to Colombia!
Coffee production in Colombia, the second-biggest grower of the arabica variety favored by Starbucks Corp., climbed 15 percent in January from a year earlier to the highest level since 2007.
Representatives from Utah’s finance, manufacturing, telecommunications and other industries will head to Colombia and Panama on Feb. 10 to kick off a four-day trade mission.
The European Union reached an accord to eliminate the visa requirement for brief stays by Colombians and Peruvians, the EU delegation in Bogota said Tuesday.
An attempt to build a stronger British investment presence in Mexico and Colombia will get under way on Monday when more than 40 business leaders accompany Nick Clegg on a trade visit to the two countries.
Chilean energy company AES Gener SA is looking for purchases in booming Colombia and at home, where it is upbeat about incoming president Michelle Bachelet's plans to spruce up the power sector.