By Admin Friday, September 3, 2010
By Inti Landauro
(Adds comments from an analyst and the mayor of Bogata and that the company president did not return phone calls for comment in the last three paragraphs.)
BOGOTA -(Dow Jones)- Shares of Colombian state-controlled telephone company Empresa de Telecomunicaciones de Bogota SA (ETB.BO), or ETB, lost 27% Thursday after the company halted the process to sell a controlling stake as no bidders showed up.
Endeavor Colombia has contributed to the strengthening of the social and human capitalBy Admin Thursday, September 2, 2010
Colombia is the fifth-largest economy in Latin America in terms of GDP. Over the past few years—prior to the world financial crisis -– rising consumer confidence, easing credit terms, and falling unemployment have given rise to a strengthening middle class in Colombia.
Deep in Colombian jungle, a first in eco goldBy Admin Thursday, September 2, 2010
A green gold miner works with his relatives at their shared mine in the community of Angostura in Tado, Colombia on July 7, 2010. Green gold was born in 2000 as a programme for traditional mining families of the Choco region. It is the first certification scheme for environmentally and socially responsible practices for traditional mining of gold and platinum.
Colombian Dairy Firm Alqueria To Expand with USD20 Mln IFC LoanBy Admin Thursday, September 2, 2010
Bogota, Sept 2 - IFC, a member of the World Bank Group, is providing $20 million in financing to Productos Naturales de la Sabana S.A. (Alquería), a leading milk producer in the Andean region, to support its expansion into low-income and remote consumer markets.
New Market Study Published: Colombia Defence & Security Report Q4 2010By Admin Tuesday, August 31, 2010
Colombia faces a new era with the election of President Juan Manuel Santos (the former defence minister) on June 20. Many of former president Uribe’s policies are expected to remain in place, especially his effective crackdown on the country’s two major guerrilla groups, the Fuerzas Armadas Revolucionarias de Colombia (FARC) and the Ejercito de Liberacion Nacional (ELN).
Relations with Venezuela continue to deteriorate - especially with Colombia’s accusation on July 15 that Venezuela is harbouring five leftist group leaders. Venezuela strongly denies the claim, and has recalled its ambassador. Relations between the two countries went sour last year after Colombia signed a military cooperation agreement with the US, which Venezuelan President Hugo Chavez regards as a regional security threat.
Oi to launch operations in Colombia in SeptemberBy Admin Tuesday, August 31, 2010
Brazilian operator Oi will launch operations in Colombia in September. The company will initially provide services to Colombian business users, but its final target is to serve individual and residential customers, local newspaper Portafolio reports. Colombia currently has around 42.5 million mobile customers and nearly eight million fixed voice lines. Oi plans to inaugurate an office in the Bogota capital on 8 September.
2,400-MW HidroItuango hydropower project advances in ColombiaBy Admin Monday, August 30, 2010
BOGOTA, Colombia 8/30/10 (PennWell)—The 2,400-MW HidroItuango hydropower project being developed by the local development agency of Colombia’s Antioquia department (IDEA) and Medellin-based multi-utility EPM is progressing on schedule, with construction expected to begin in 2013, a spokesperson for project developers told wire services.
BHP’s smooth Colombian plots Potash bid tacticsBy Admin Monday, August 30, 2010
By Sonali Paul
MELBOURNE (Reuters) - BHP Billiton’s chief, Marius Kloppers, made a splash with an aggressive bid for Potash Corp, but behind the scenes the war room is being led by the miner’s top deal maker, Alberto Calderon.
By Admin Monday, August 30, 2010
Gran Tierra has completed initial testing of the Moqueta-2 delineation well in the Moqueta new field discovery on the Chaza Block in the Putumayo Basin, Colombia. Gran Tierra Energy has a 100% working interest and is the Operator of the Chaza Block.
“We are very pleased with the testing result at Moqueta-2, where oil flowed naturally at higher rates without pumps than Moqueta-1. Compared to Moqueta-1, the oil column is thicker and the oil bearing zones are more productive,” said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy. “Due to operational efficiencies and integration of the Moqueta-2 well results, the Moqueta-3 well will now be drilled from the Moqueta-1 well pad location down-dip in a southerly direction, to further assess the size of the Moqueta oil field since no oil-water contacts have been identified.”
Colombian Peso Rises to Almost Two-Year High on Bank DecisionBy Admin Tuesday, August 24, 2010
(Bloomberg)—Colombia’s peso rose to an almost two-year high after the central bank said it has no “imminent” plans to buy dollars in the foreign-exchange market, resisting pressure to stem the world’s biggest currency rally this year.
Central bank chief Jose Dario Uribe said Aug. 20 that Banco de la Republica will buy dollars in the spot market to ease gains in the peso when it deems it “appropriate.” The lender decided against purchasing the U.S. currency after President Juan Manuel Santos earlier this month said he would seek to persuade policy makers to be “more creative, more bold” in stemming gains in the currency.
