image description

February 2013

February 28, 2013

New York Times

There are two different sides to Cartagena de Indias, the official name of this beach resort city of one million in Colombia. The modern Cartagena is along the coast. Hundreds of glass condominium towers have sprung up on the Bocagrande Peninsula and nearby, a scene straight out of Miami or Panama City.

February 20, 2013

Boston Herald

Gov. Deval Patrick and Colombian President Juan Manuel Santos have signed a memorandum of understanding intended to strengthen collaboration between Massachusetts and the South American nation. The agreement focuses on the areas of science, technology and innovation — including the life sciences — and clean energy industries.

February 19, 2013

Embassy of Colombia - Press Release

President Juan Manuel Santos today highlighted the importance of a memorandum of understanding (MOU) signed between Colombia’s Department of Science, Technology and Innovation, Colciencias, and the state of Massachusetts, aimed at expanding cooperation on technology.

February 19, 2013

President Santos Highlights Importance of MOU on Technology Cooperation Signed Between Colciencias, State of Massachusetts
 
Bogotá — President Juan Manuel Santos today highlighted the importance of a memorandum of understanding (MOU) signed between Colombia’s Department of Science, Technology and Innovation, Colciencias, and the state of Massachusetts, aimed at expanding cooperation on technology.
 
Massachusetts Governor Deval Patrick and Colciencias Director Fonseca Carlos Zarate signed the agreement at the Casa de Nariño in Bogotá with President Santos present.
 
“I know how important innovation, technology and research are in the state of Massachusetts, and so any contribution to Colombia will be very important,” said President Santos at the signing ceremony.
 
Similarly, the President discussed how innovation is an engine for economic growth in Colombia and underscored the importance of the agreement in that context.
 
“We allocate significant resources – 10 percent of all our tax dollars – toward research and development,” said President Santos.
 
The President thanked Governor Patrick for leading a delegation of U.S. business and academic leaders and officials to visit Colombia to learn more about the country and all it has to offer.
 
“With your help, we are confident that we will find the best ways to invest these resources to help ensure economic growth,” said President Santos.
 
“We hope that with the signing of the memorandum a stable and lasting relationship is built between Colombia and the state known for its prestigious academic centers.”
 
“The state of Massachusetts has a lot of what Colombia needs, and Colombia has a lot of what United States and the state of Massachusetts also need,” concluded the President.
 
###
 

February 14, 2013

Boston Herald

Gov. Deval Patrick will lead a coalition of business leaders and officials on a mission to Colombia to promote job creation in the state. Colombia has a thriving innovation, life sciences and clean energy economy, Patrick said, and the mission will help create collaboration that will spur job creation in Massachusetts.

February 14, 2013
February 8, 2013

NBC

A man works on the last details of a decoration for carnival in Barranquilla, Colombia, 08 February 2013. The city's bicentenary and its status as American Capital of Culture for 2013 are the two main subjects for the carnival that starts this weekend.

February 11, 2013

Wall Street Journal

Gran Tierra Energy Inc. (GTE, GTE.T) reported positive initial drilling results at its Bretana Norte exploration well in Peru and is in the process of completing its Moqueta-8 well as a production well in Colombia.

February 12, 2013

InterContinental Hotels Group

IHG (InterContinental Hotels Group), one of the world’s leading global hotel companies, today announced signings of two new Holiday Inn® hotels in Colombia. The new properties – to be located in the northeast region’s cities of Bucaramanga and Cucuta – will bring IHG’s hotel pipeline in Colombia to 5 hotels.

February 11, 2013

Colombia Reports

The Colombian government will spend more than $83 million on road reconstruction to fix routes that were damaged during the winter. Carlos Ivan Marquez, Colombia's director of the National Risk Management Agency told local media that the government plans to invest $83.8 million in heavy machinery for repairing damaged roads.

February 20, 2013

Boston Business Journal

An agreement announced Wednesday is intended to foster partnerships in the life sciences and other technology sectors between the Commonwealth of Massachusetts and the Republic of Colombia. The memorandum of understanding signed by Gov. Deval Patrick and Colombia President Juan Manuel Santos Calderon is aimed at enhancing scientific and technological development between the residents of Colombia and Massachusetts through collaboration between public and private institutions, universities, research centers and other organizations. The MOU specifically calls for partnerships in health and life sciences industry sectors, including biotechnology, pharmaceuticals and tropical disease research.

February 20, 2013

Reuters

Bancolombia SA, Colombia's largest lender by assets, agreed to purchase HSBC Bank SA Panama for $2.1 billion, the most ever paid by a local bank and the latest in an expansion wave by financial entities into Latin America.

February 27, 2013
February 27, 2013

Reuters

Canacol Energy Ltd said it entered into an exploration and development deal with ConocoPhillips for one of the Canadian oil and gas producer's shale oilfield in Colombia.

February 26, 2013

Daily Free Press

Mass. Gov. Deval Patrick and President Juan Manuel Santos Calderon of the Republic of Colombia signed a memorandum of understanding Wednesday that will grant formal collaborations between the two entities in the areas of science, technology and innovation.

February 22, 2013

Southeast Farm Press

According to an article in Latinvex, a Latin American journal, implementations of U.S. free trade agreements (FTAs) in Latin America have caused an increase of U.S. exports to the region by 9.3 percent in 2012, lowering the U.S. trade deficit by 24.7 percent. … Among the countries that spearheaded this growth of U.S. exports were Colombia and Panama, which implemented FTAs with the United States last year. Both are in the top 5 percent of countries with the most growth in trade with the United States.

February 24, 2013

Prensa Latina

Colombia became the first country in Latin America in using robotic science in surgery applied to a two-year old child with the Dawn Syndrome and chronic urinary retention, and the operation was successful.

February 21, 2013

Bloomberg

Colombian President Juan Manuel Santos today named Deputy Finance Minister Ana Fernanda Maiguashca as the second woman ever to serve on the central bank’s seven-member policy committee.

February 20, 2013

Examiner

Governor Rick Scott and Enterprise Florida (EFI) today announced that the participating companies on the trade mission to Bogotá, Colombia reported actual and expected sales in excess of $40 million as a result of the trip. Governor Scott and EFI were a part of one of the largest TEAM Florida trade missions to Bogotá, Colombia, with more than 190 participants representing 116 Florida companies, statewide organizations and higher educational institutions to promote economic development opportunities in the Sunshine State last December.

February 20, 2013

Latino Daily News

The first ever Colombian Film Festival is coming to New York City, celebrating all that is great about Colombian moviemaking.  The festival, that will take place at the Tribeca Cinemas, will be held from March 20th until March 24, 2013. The festival will screen 16 feature films and 8 shorts out of 45 entrees.

February 19, 2013

Wall Street Journal

Need to raise some cash and have a bank to sell in Latin America? Try Colombian financiers. They’re buying. Banks from the Andean nation are fast becoming regional players, taking advantage of troubled global financial firms that are being pushed to withdraw from a part of the world that sports an ascendant middle-class, a young population and a generally bright economic outlook.

February 7, 2013

Bloomberg

The U.S., the world’s largest oil consumer, will continue to import crude from Colombia and Venezuela, according to the International Energy Agency. A mismatch in the U.S. refining system creates a preference for heavy crude grades from nearby countries, Antoine Halff, head of IEA’s markets division, said during a conference in Cartagena today.

February 7, 2013

AviationPros.com

Routes Americas 2013, which will take place in Cartagena, Colombia from 10-12 February, will see the strongest airline list ever assembled at the event.

February 4, 2013

AFP

Officials from Costa Rica and Colombia on Monday began a fourth round of free-trade negotiations that are expected to address the most sensitive issues of market access, officials said. “We enter the final stage of a negotiation that seeks to achieve a balance between our offensive and defensive interests,” Costa Rican Foreign Trade Minister Anabel González said in San José, where talks are taking place.

February 4, 2013

Fibre2Fashion

Columbia’s textile and clothing industry is eyeing on expanding its export market to the 27 countries of the European Union (EU) and the country is also aiming at building new business relations with these countries. The president of the Institute for Export and Fashion (Inexmoda) of Columbia, Mr. Carlos Eduardo Botera said the objective of Colombian textile and apparel industry in 2013 is to strengthen the trade relation between Colombo and the EU.

February 4, 2013

International Monetary Fund

Prudent economic policy management and a strong policy framework have supported Colombia’s remarkable economic performance in recent years and its resilience to adverse shocks, said the IMF in its regular assessment of Latin America’s fourth largest economy.

February 5, 2013

Colombia Reports

South Korea's cabinet approves the free trade agreement (FTA) with Colombia, bringing both countries one step closer to the implementation of the agreement, local media reported Tuesday. The two countries will formally sign the agreement on February 21, after which the FTA will be submitted to both parliaments for legislative approval.

February 4, 2013

AFP

Officials from Costa Rica and Colombia on Monday began a fourth round of free-trade negotiations that are expected to address the most sensitive issues of market access, officials said. “We enter the final stage of a negotiation that seeks to achieve a balance between our offensive and defensive interests,” Costa Rican Foreign Trade Minister Anabel González said in San José, where talks are taking place.

February 4, 2013

Colombia Reports

The northern Colombian city of Barranquilla is set to erupt on February 9 when one of Colombia's largest and most important celebrations, the 200th Carnaval de Barranquilla, begins. The UNESCO recognized four-day festival is traditionally held four days before Ash Wednesday.

February 4, 2013

Latin America Herald Tribune

Colombia’s National Infrastructure Agency (ANI) said it will launch a road-concession process next week aimed at awarding an estimated 4 trillion pesos ($2.25 billion) worth of contracts for the construction of 550 kilometers (340 miles) of roads. ANI director Luis Fernando Andrade said in a press conference Friday that the process is part of the larger “4th Generation (4G) of Road Concessions in Colombia” project, which is the largest in the nation’s history and aimed at auctioning off 30 road concessions worth an estimated 40 trillion pesos ($22.5 billion).

February 2, 2013

CoalGuru

New Colombia Resources Inc announced its plans of a Public Private Partnership with the Agencia Nacional de Infraestructura of Colombia to build a railroad that will move its high quality metallurgical coal from central Colombia to export terminals on the northern coast. The Company is in talks with consultants to develop a pre feasibility study to submit to the ANI.

February 1, 2013

Reuters

The Louvre, arguably the most important art museum in the world, has decided to lend parts of its ceramic collection to Colombia’s National Museum in the capital Bogota. Colombia’s National Museum, which this year celebrates its 190th birthday, said a full collection of ancient Greek ceramic will arrive in July this year from the Louvre museum in Paris, France.

February 4, 2013

Dow Jones

Colombia said it produced an average of 1.01 million barrels of oil per day in January, marking the first time that average crude output for a month surpassed the one million-barrel mark that the government had set as a target for the country's oil industry.

February 4, 2013

Reuters

Colombia's economic growth will edge up to 4.4 percent in 2013, with inflation remaining within the central bank's official target range, the International Monetary Fund said on Monday.

February 7, 2013

Reuters

Colombian oil output should average around 1.1 million barrels per day (bpd) in 2013, the energy minister told a conference on Thursday, rising about 16.5 percent from 2012.

February 7, 2013

VOXXI

On January 24, Judge Ruth Diaz Rueda became the first woman to preside over the Supreme Court of Justice (CSJ) of Colombia. She was chosen unanimously by the 23 members of the Court. For the first time in 180 years, a woman will lead the fate of the Supreme Court of Justice.

February 6, 2013

Reuters

Colombia expects "good news' from credit rating agencies after the first quarter of the year, a senior finance ministry official said on Wednesday. 

February 6, 2013

Colombia Reports

Latin America’s oldest film festival, the International Film Festival of Cartagena, is set to begin on February 21, combining original stories and documentaries from across the world. The 53-year-old festival is not only a magnet for tourism, but also a proving ground for directors and producers as 19 prestigious awards are up for grabs.

February 6, 2013

Colombia Reports

Colombian president Juan Manuel Santos on Wednesday promised to revive the country's coffee industry after farmers have claimed that they are falling victim to climate problems and upside down price conditions. "We are working hand in hand to bring the coffee growing [industry] and thus the country, forward," said Santos.

February 6, 2013

Bloomberg

Colombia produced 877,000 bags of coffee in January, up 64 percent from a year earlier, President Juan Manuel Santos said today in a speech to coffee growers in Caldas province.

February 5, 2013

Reuters

Emerging markets telecoms group Millicom International Cellular SA aims to boost its position in the fast growing market of South American country Colombia by merging its business with that of a regional operator, it said on Tuesday. 

February 4, 2013

Colombia Reports

The northern Colombian city of Barranquilla is set to erupt on February 9 when one of Colombia's largest and most important celebrations, the 200th Carnaval de Barranquilla, begins. The UNESCO recognized four-day festival is traditionally held four days before Ash Wednesday.

February 4, 2013

Platts

Anadarko Petroleum's Colombia unit will begin acquiring 2D and 3D seismic data at deepwater offshore blocks it operates in Colombia with an eye to begin a drilling program with partner Ecopetrol in 2014. Anadarko has six offshore blocks totaling 8 million gross acres.

February 1, 2013

Forbes

American retail investors buying up mutual funds and exchange traded funds from their Ameriprise Financial advisors and their home broker accounts pumped money into emerging market equity funds for the 11th straight week in a row, according to fund tracking firm EPFR Global in Cambridge, Mass.