US firm CP Media has teamed with Latin American producer 2&2 to launch an incentive scheme to encourage US television producers to produce in Colombia. The US$100 million joint venture will offer producers up to 50% of the financing for movies or longform television series that are shot in the country.

One of Colombia's biggest banks, Bancolombia, is leading the market in earnings in the third quarter of this year, reporting profits of $237.8 million. The reported numbers mean that Bancolombia has earned 2.3% more than the same period as last year with a total loan request increase of 12.9%, including all requests that have not yet been approved or rejected.

Colombia will receive a 4G network after the government unveils an auction list to be fought over by the countries mobile service providers on Friday. The auction is based around selling off available frequencies that provide 4G service, meaning faster internet and even the option for 3D television, among other things and will take place in January2013 after final specifications will be made in November and December of 2012.

Mexico's top cement maker Cemex officially launched on Monday the Colombian initial public offering of its Latin American unit, with books open from Oct. 29 to Nov. 6, the company said.

Tourism to the Colombian Caribbean is expected to increase next year with cruise ship passengers forecast to grow by 35%. For the dates October to May last year about 315,000 passengers visited the Colombian Caribbean with 7,000 going to Santa Marta and San Andres and 308,000 to Cartagena, this is compared to 350,000 which is expected for the same period for 2012/13.

The Brazilian bank Itau Unibanco, the largest bank in the southern hemisphere, will open branches in Colombia, local media reported on Monday. The bank, currently the tenth largest bank in the world by market value, will deal primarily in large projects in mining, oil and infrasturcture sectors through its corporate branch Itau BBA.

The Brazilian bank Itau Unibanco, the largest bank in the southern hemisphere, will open branches in Colombia, local media reported on Monday. The bank, currently the tenth largest bank in the world by market value, will deal primarily in large projects in mining, oil and infrasturcture sectors through its corporate branch Itau BBA.

Colombia's central bank expects economic growth in 2013 similar to the levels expected this year of between 3 percent and 5 percent, the monetary authority's chief said on Friday.

Any tour of Colombia’s second city Medellin should include a visit to the charismatic Parque de los Deseos, or Park of Desires. Located at the feet of the Universidad metro station in Medellin’s northern zone, the Park of Desires, or Parque de los Deseos as it is locally known, has a number of personalities depending on when you go.

Burger King Worldwide today announced an exclusive restaurant development agreement with Fondo Escala Capital and Promotora to further develop brand in Colombia by more than 100 new points of sale within the next five years. As part of the transaction, Fondo Escala Capital and Promotora have agreed to acquire a majority stake in Kinco S.A.S., currently a franchisee of Burger King Worldwide.

Pope Benedict XVI has named six new cardinals, adding prelates from Lebanon, the Philippines, Nigeria, Colombia, India and the U.S. to the ranks of cardinals who will elect his successor. Pope Benedict made the surprise announcement during his weekly general audience Wednesday and said they would be elevated at a consistory Nov. 24.

Colombian President Juan Manuel Santos was awarded the Shalom Prize for his commitment to seeking peace in his country and worldwide. The prize, bestowed Tuesday at a ceremony in Bogota, is awarded by the Latin American chapter of the World Jewish Congress based in Buenos Aires. “Both the people here and the people in Israel have been seeking peace for decades,” Santos said upon receiving the award.

Colombia's second city Medellin was ranked as one of the top three most innovative cities in the world, and is in the running for the number one spot along with Tel Aviv and New York.

Trade relations between Colombia and Venezuela have entered on Friday a new stage, following the entry into force of the Partial Scope Agreement (AAP). The legal instrument will regulate bilateral trade, the Colombian Ministry of Trade, Industry and Tourism reported on Thursday. The AAP, the discussions of which finished off in February under the guidelines of the Latin American Integration Association (Aladi) will allow the entry of Colombian exports into the Venezuelan market free from tariffs, the ministry explained.

A total of 37 domestic and foreign companies bid a combined $2.64 billion for 49 Colombian oil blocks, Mines and Energy Minister Federico Renjifo said Thursday. He said the National Hydrocarbons Agency, or ANH, received the bids as part of the Colombia Round 2012 bidding process.

North Dakota Agriculture Commissioner Doug Goehring says the state's first trade mission to Colombia in four years shows promise for a long and profitable trade relationship with the South American nation. Goehring and other members of the trade delegation returned from Colombia on Sunday. He says the trip was the beginning of a new effort to make North Dakota a main supplier of products to Colombia.

Royal Dutch Shell Plc (RDSA) and Spain’s Repsol SA are among winning bidders at Colombia’s first government auction of oil and natural gas blocks in two years as the country seeks investment to boost reserves. South America’s third-largest oil supplier is also granting licenses to state-controlled Ecopetrol SA, Gran Tierra Energy Inc. and other producers after offering 115 blocks, according to preliminary results on the National Hydrocarbons Agency’s website.

Colombian lovers of vintage cars are able to get a rare glimpse of the most sought after beasts on four wheels as 20 classic automobiles are weaving their way through the country on a 7,000-mile odyssey to Tierra del Fuego. A classic 1953 Bentley, a 1958 Aston Martin and a variety of other beautiful specimens including Mercedes Benz, Porsches, Jaguars and even an old Ford Escort took the walled city of Cartagena de Indias by storm upon their arrival early last week.

Colombian Foreign Minister Maria Angela Holguin will be in Orlando Tuesday to inaugurate the city's new Colombian consulate. … Nearly 38,000 Colombians live in metropolitan Orlando. Colombia is the fourth nation to have a consulate in Central Florida, joining Haiti, Mexico and the United Kingdom.

The central Colombian departments of Meta and Casanare and the northern Cesar department prospered last year due to mining activities, revealed the country's statistics office, Dane on Thursday. In 2011 the GDP of mining departments grew, Meta by 19.7%, Casanare by 15.1% and Cesar by 10.8%.

The agenda of negotiating FTAs has advanced, but now businessmen need to work on developing more markets. For Colombia, the largest free trade agreement (FTA) is that with the US which was worked on for more than six years and entered into force on May 15 this year.

Famed Colombian author Gabriel Garcia Marquez received Mexico's highest honor from the National Institute of Fine Arts, presented to "outstanding figures in the world of theater, dance, arts, music or literature." Motivated by the 30th anniversary of Garcia Marquez receiving the Nobel Prize for Literature, the Mexican institute announced Tuesday that they will award the author with its own highest honor, the Fine Arts Medal.

Oil production in Colombia increased by nearly 7% in September compared to the same month last year, said the country's energy minister Tuesday. Minister Federico Renjifo revealed that production reached 956,000 barrels per day, a 6.97% rise compared to September 2011.

Colombians will seek to break the Guinness World Record next year with their traditional Sanjuanero Huilense dance. On June 30, 2013 the country club of the capital Neiva in the southwest Huila department will host an event with 500 couples performing the traditional Colombian dance for five minutes to break the Guinness World Record. The point of the event is not only to hold a place in the world renowned Guinness Book, but also to exalt and demonstrate the importance of the culture of the region and take a social step forward in the name of the traditional folkloric dance.

Colombia unveiled a tax reform bill on Tuesday aimed at creating jobs, closing loopholes and simplifying the tax system, but not increasing the tax take as the Andean country was on track for record collections this year. Colombia's battle against corruption and evasion helped boost tax revenue 25 percent last year, to about 86.3 trillion pesos ($48 billion), and Colombia's tax office will likely collect a record 103 trillion pesos this year.

Carlos Urrutia became ambassador of Colombia to the United States on Sept. 19. Throughout his career, Ambassador Urrutia has served in both the public and private sectors, including as managing partner of Brigard & Urrutia, the oldest and one of the largest law firms in Colombia, from 1999 to 2012. Prior to that, Ambassador Urrutia, who has been with the firm since May 1977, served as partner beginning in 1981.

Some of the world’s largest oil companies are jostling for licences to explore for shale gas in Colombia, one of many countries hoping to replicate the North American boom in unconventional gas. ExxonMobil, Royal Dutch Shell and ConocoPhillips are among the more than 80 companies bidding for licences, according to Javier Gutiérrez, chief executive of Ecopetrol, Colombia’s state-run energy company.

World Music Central‘s celebration of Hispanic Heritage month goes on with the music of Colombia, which is well respected throughout the world. The South American nation has produced international pop stars like Shakira and Juanes, as well as folk musical genres like cumbia and vallenato that have had a tremendous influence in other Latin American countries.

Colombia and the European Union on Friday signed a pact on de-mining 12 of Colombia's 32 departments which are most affected by the scourge of landmines. The government of Colombia and the EU signed an $11 million agreement to strengthen the action against landmines which have killed 10,001 victims since records began in 1990. The money of the agreement "Strengthening the Action against Anti-personnel Mines in Colombia" will be aimed at educating on the risk of mines, assisting victims and de-mining.