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Business, Colombia

Colombia, Mexico and Peru: Latin America Bond, Currency Preview

By Lydia Thew

Monday, October 29, 2007

(Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the Oct. 26 session.

Brazil, Colombia, Mexico: Latin America Bond, Currency Preview

By Lydia Thew

Friday, October 26, 2007

(Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous day's session.

Promigas Telecomunicaciones Meets Increasing High-Bandwidth Demands with Network Expansion Using Nortel Carrier Ethernet Solutions

Thursday, October 25, 2007

BOGOTA, COLOMBIA -- (Marketwire) Promigas Telecomunicaciones, a major supplier of network services for service providers in Colombia, is expanding its current network infrastructure using Nortel's(1) (TSX:NT)(NYSE:NT) Carrier Ethernet solutions. The network expansion allows Promigas Telecomunicaciones to meet increased high-bandwidth demand in the region essential to real-time video, VoIP and streaming media across a variety of devices.

Colombia's EEB Plans to Sell $710 Million in Seven-Year Bonds

By Guillermo Parra-Bernal

Wednesday, October 24, 2007

(Bloomberg) -- Empresa de Energia de Bogota SA ESP, Colombia's second-biggest electricity transporter, may sell $710 million of seven-year bonds to European investors as soon as today, people familiar with the offering said.

Comverse and Movistar Personalize Ringback Tones in Colombia

Tuesday, October 23, 2007

WAKEFIELD, Mass.,(BUSINESS WIRE) -- Comverse, a subsidiary of Comverse Technology, Inc. and the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced that Movistar, Colombia's second-largest mobile operator with more than 7.5 million subscribers, and part of the Telefonica Moviles group, has launched Comverse Fun Dial(TM) Ringback Tone service. The service differentiates Movistar by enabling its users to personalize the system tones that their callers hear before the phone is answered with music and other fun content.

UNE-EPM Telecommunications Orca Interactive for First IPTV Service Rollout in Colombia

Tuesday, October 23, 2007

RA'ANANA, Israel & MEDELLIN, Colombia--(BUSINESS WIRE)--Orca Interactive Ltd. (LSE:ORCA), a market pioneer in providing IPTV middleware and applications, announced today that UNE-EPM Telecommunications, a leading provider of Internet, telephony and television services in Colombia, has selected Orca’s advanced RiGHTv middleware to enable the first IPTV service rollout in Colombia. UNE-EPM Telecommunications, a division of Empressa Publica de Medellín S.A., is headquartered in Medellín, the second largest Colombian city with a population of 2.4 million, and extends its triple play offering throughout the country.

Argentina, Brazil, Colombia, Peru: Local Bond, Currency Preview

By Lydia Thew

Monday, October 22, 2007

(Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today. Yields and exchange rates are as of Oct. 19.

Argentina: Industrial production probably rose 6.9 percent in September from a year earlier, compared with 9.7 percent in August, according to the median forecast of eight economists surveyed by Bloomberg. The National Statistics Institute is scheduled to release the data at 3 p.m. New York time.

Trade with Colombia

Vincent Volpi, CEO, PICA Corp., USA Today

Thursday, October 11, 2007

Columbus, Ohio - As a CEO who has lived and worked in Colombia, I felt compelled to respond to "Colombia works to escape its past." Though the story is balanced and accurate, it doesn't include the broader impact of U.S. foreign policy in Latin America or the consequences to the USA of failing to act on Colombia's pending free-trade agreement (USA Today, Money, Cover story, Oct. 4).

Clariant Buys Colombia's Toschem, Plans Cota-Bogota Investment

By Joseph Heaven

Wednesday, October 10, 2007

(Bloomberg) -- Clariant AG, the world's second- biggest specialty chemical maker, bought Toschem, a supplier of chemicals and services to the utilities markets in Colombia today.

A wagging finger and a sharp tongue

The Banker

Monday, October 8, 2007

Álvaro Uribe Colombia’s president
Colombia’s president Álvaro Uribe has a lot of support and criticism as he faces huge challenges in his second term. Karina Robinson reports.

Colonel Aureliano Buendía, the main protagonist in Colombian author Gabriel García Márquez’s epic One Hundred Years of Solitude, is described as “lost in the solitude of his immense power”. He realises that he has won and lost the many wars of his lifetime for one reason only: “pure arrogance”.

Brazilian petroleum technology to go to Colombia

Translated by Gabriel Pomerancblum, Agencia Sebrae

Thursday, October 4, 2007

Rio de Janeiro – Fibre optic sensors capable of detecting variations in pressure and temperature at the bottom of an oil well. The equipment's ingenuousness prevents land units for problem correction from becoming paralized. The technology, owned by Rio de Janeiro-based company Gavea Sensors, can now be implemented in Colombia.

Gemini Explorations Inc. Updates Sampling Program From the Los Chorros Gold

Wednesday, October 3, 2007

Gemini Explorations Inc. ("Gemini") (OTCBB: GXPI) is pleased to report that Minera Primecap Geological Services (MPGS) expects additional sampling results from the Los Chorros Gold Project to be available in the next ten to fourteen days. Gemini recently reported vein sample results from Los Chorros of 6.4 g/tonne Au to 190.6g/tonne Au on September 19, 2007. The Los Chorros Mine is a producing gold property in the El Bagre-Zargoza mining district, department of Antioquia, Colombia.

Frontier Pacific & Cosigo Resources are awarded and sign Taraira Gold Concession, Southeastern Colombia

Filing Services Canada FSC / Press Release

Tuesday, October 2, 2007

Vancouver, British Columbia CANADA, - Frontier Pacific Mining Corporation (FRP - TSX Venture), ("Frontier Pacific")and Cosigo Resources Inc. ("Cosigo"), a private B.C. corporation, are pleased to announce the award and signing of a Concession Contract (the "Contract") with the Instituto Colombiano de Geologia y Minera ("INGEOMINAS") for the Taraira Gold Concession (the "Taraira Concession") in the Department of Vaupes, south eastern Colombia. The Contract was signed on September 28, 2007 by the Colombian branch of Cosigo Frontier Mining Corp. ("Cosigo - Frontier"), a private B.C. company. The B.C. company is owned 51% by Frontier Pacific and 49% by Cosigo.

Colombian consumer prices


Tuesday, October 2, 2007

DATA SNAP: Colombia's Sep CPI +0.08% VS Consensus +0.15%
Consumer Price Index: (percentage increases, month-on-month)
Sep Aug Jul June May Sep/06
Forecast +0.15% +0.11% +0.06% +0.19% +0.37% +0.31%
Actual +0.08% -0.13% +0.17% +0.12% +0.30% +0.29%

BOGOTA (Dow Jones)--Colombian consumer prices rose lower than expected in September as food costs declined due to a higher supply of tubers and vegetables, the national statistics department, known as DANE, said late Monday. The statistics department said the consumer price index rose 0.08% in September, while a Dow Jones Newswires survey of nine economists had produced a median estimate of a 0.15% increase of the index.

OMX Signs Bolsa de Valores de Colombia as First Exchange Customer in South America

Wednesday, September 26, 2007

STOCKHOLM, Sweden,- - OMX, a leading expert in the exchange industry, has signed an agreement with Bolsa de Valores de Colombia (BVC) to provide a new trading system to enhance the BVC's IT infrastructure.

OMX will be the system provider for the license, customization, mplementation and support of BVC's new trading system, which will be used for derivatives and cash equities.

Baxa Corporation Extends Global Reach With New Distribution Agreements in Colombia and The Dominican Republic

Tuesday, September 25, 2007

Denver - Baxa announces the addition of new exclusive distributors in Colombia, South America, and The Dominican Republic. These agreements - with Magallan Pharma Trading Corporation in Colombia and Pentafarma & Co. in The Dominican Republic - will enable Baxa to extend its global reach and expand product promotion in South America and the Caribbean. Baxa products are sold worldwide both direct and through exclusive distribution arrangements.

Colombia Oil Block Auction Favorable To Companies

Source: Dow Jones

Friday, September 21, 2007

Colombia granted rather favorable conditions to oil companies at an oil and gas block auction Tuesday, Monica Araujo, an oil analyst at the Ativa brokerage in Brazil said Thursday.

"The country really wants to attract investment to the oil sector and thus did this auction at a very low cost for companies," Araujo said.

Colombia is seeking to increase its oil and gas reserves amid a decline in production.

Oil companies that took part in Tuesday`s auction don`t need to make an initial payment for the blocks, and only have to commit themselves to a $5 million-per-block investment as well as a royalty payment of up to 16% of a possible future production.

Brazil, Colombia, Mexico, Venezuela: Bond, Currency Preview

By Lydia Thew

Wednesday, September 19, 2007

(Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous day's session.

Brazil: Consumer prices as measured by the FIPE economics research institute probably rose 0.17 percent in the month to Sept. 15 after increasing a 0.07 percent increase in August. FIPE is scheduled to release the inflation report at 4 a.m. New York time.

Gran Tierra readjusts reserve estimates

Source: Bnamericas

Friday, September 14, 2007

Calgary-based Gran Terra Energy has readjusted the initial reserve estimates for two recent oil discoveries in Colombia to incorporate a third-party overriding royalty, the company said in a statement.

The overriding royalty applies to Gran Tierra`s interests in the Chaza and Guayuyaco blocks.

For the Costayaco oil discovery, independent reserve auditor Gaffney, Cline & Associates (GCA) has now allocated Gran Tierra proved reserves of 2.7Mb compared to the previous level of 3Mb, probable reserves of 5.5Mb (6Mb previously reported) and additional possible reserves of 7.4Mb (8.2Mb previously reported).

Petrobras-Led Grp Begins Drilling in Colombia Tayrona Block

Source: Dow Jones

Friday, September 14, 2007

A group led by Brazilian oil company Petroleo Brasileiro SA (PBR), or Petrobras, started drilling an exploration well in the Colombian offshore Tayrona block located off the Caribbean coast, Mines and Energy Minister Hernan Martinez said Thursday.

"The company started drilling in Tayrona this morning at 3 a.m.," Martinez said.

Gran Tierra Energy Updates Recent Reserve Additions and New Field Development Planning Progress

Gran Tierra Energy Inc. (OTC Bulletin Board: GTRE)

Thursday, September 13, 2007

CALGARY, CANADA, /CNW/ -Gran Tierra Energy Inc., a company focused on oil exploration and production in South America, today announced that initial estimates of reserves from the independent reserve auditor's report by Gaffney, Cline & Associates (GCA) for two recent oil discoveries in Colombia reported August 13, 2007, have been updated to incorporate a third party over-riding royalty on Gran Tierra Energy's interests in certain properties in Colombia, including the Chaza and Guayuyaco Blocks where the discoveries are located. These amendments do not materially impact the scale of these discoveries which, as previously reported, more than tripled Gran Tierra Energy's acquired proved, probable and possible oil reserves base, and almost doubled its acquired proved oil reserve base with its drilling program executed in the first half of 2007.

Bancolombia Announces Unconsolidated Net Income

SOURCE Bancolombia S.A.

Wednesday, September 12, 2007

Bancolombia Announces Unconsolidated Net Income of Ps 78,960 Million for the Month of August 2007, Totaling Ps 505,397 Million for the First Eight Months of 2007

MEDELLIN, Colombia, Sept. 11 /PRNewswire-FirstCall/ -- Bancolombia S.A. ("Bancolombia") reported unconsolidated net income of Ps 78,960 million during the past month of August.*

During August, total net interest income, including investment securities, amounted to Ps 165,069 million. Additionally, total net fees and income from services totaled Ps 56,485 million.

Total assets amounted to Ps 30.78 trillion, total deposits totaled Ps 19.16 trillion and BANCOLOMBIA's total shareholders' equity amounted to Ps 4.64 trillion.

Colombia Peso Strengthens On Expectations Of Rate Cut In US

By Inti Landauro, Dow Jones Newswires

Wednesday, September 12, 2007

BOGOTA (Dow Jones)--The Colombian peso closed stronger Tuesday on investors' expectations the U.S. Federal Reserve may cut interest rates during its next monetary policy meeting Sept. 18.

The peso closed at 2,189 Colombian pesos to the dollar from COP2,198.75 Monday. Monday's close was the weakest level since March 30.

"There was optimism in the market today as there is talks about a possible rate cut by the U.S. Federal Reserve," said Arnoldo Casas, a debt strategist with local brokerage Promotora Bursatil SA.

Spotlight: President Álvaro Uribe of Colombia

By Karina Robinson, The Banker

Friday, September 7, 2007

BOGOTÁ: President Álvaro Uribe is widely credited with transforming the Colombian economy, bringing greater security and fostering one of the most welcoming business environments in Latin America. But many people know him only as a wagging finger - an index finger, to be exact.

As he shook his finger at me during a recent interview - a gesture so associated with him that it was used as the symbol of his re-election campaign - I comforted myself with the knowledge that I was in good company. All his ministers have been thus scolded in front of the Colombian people during his weekly, daylong Communal Councils, broadcast live on national television.

Latin America Bond, Currency Preview

By Adriana Brasileiro

Tuesday, September 4, 2007

Sept. 4 (Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous session.

Brazil: Brazil's industrial output probably rose 7.5 percent during the 12 months through July, accelerating from June's 6.6 percent advance, according to the median forecast of 27 economists surveyed by Bloomberg News. It would be the biggest gain in 31 months as manufacturers ramped up investment in machinery and equipment to meet rising consumer demand. The report will be released at 8:30 a.m. New York time.

Argentina, Brazil, Mexico: Latin America Bond, Currency Preview

By Adriana Brasileiro

Thursday, August 30, 2007

Aug. 30 (Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous session.

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