Chile's Parque Arauco completed a transaction with the Real Estate Collective Investment Fund, Inmoval, which belongs to Credicorp Capital Colombia. The group sold a 49% stake in the Parque Caracolí (Santander) and Parque La Colina (Bogotá) shopping centres to Inmoval for a total of Col$588 billion ($163.53 million). Parque Arauco estimated that the profits from the sale will be Col$185 billion ($51.45 million), money that will be used for new investments and long-term expansion.
Month: January 2021
Ministry of Transport launches second phase of credit line for $198.85 mn
Transport Minister Angela María Orozco announced the launch of a second phase of the 'Transporte Responde' credit line, which will have a quota of Col$715 billion ($198.85 million). Orozco said that this line will have sub-quotas: MSMEs, Col$379 billion ($105.40 million); $136 billion ($37.82 million) for microenterprises and $200 billion ($55.62 million) for large companies.
Eterna Group invests $1 mn in new plant to produce surgical masks
The president of the Eterna Group said that the business group has invested $1 million in a new plant for the production of surgical masks and is expected to produce between five and six million units per month. He added that demand is expected to grow by 100 per cent and that consumption is estimated at 100 million face masks per month.
IMF: Global debt soars to highest since World War II
With global public debt to GDP standing at 98% at the end of 2020, at levels not seen since the end of World War II, fiscal rules must change in the face of the pandemic-induced crisis, the International Monetary Fund (IMF) said on Thursday. At the end of 2019, just before the outbreak of the coronavirus pandemic, global debt to GDP stood at 84%.
In 2020, the SIC levied fines of $2.1 mn
The Superintendency of Industry and Commerce (SIC) revealed that in 2020 the entity received 16,237 complaints, of which 89.9% were for alleged violations of Statutory Law 1266 of 2008 or the Financial Habeas Data Law. The SIC also reported that during 2020 it imposed fines of Col$7.58 billion ($2.1 million), and issued 2,070 orders for companies to comply with personal data protection legislation.
MPC Capital raises $100 mn to build green energy plants in Colombia, Jamaica and El Salvador
MPC Capital AG has raising $100 million in a private placement in anticipation of its listing on Oslo Stock Exchange’s Euronext Growth segment. On the company website, it lists 5 projects under development in Colombia, plus one each in El Salvador and Jamaica that will begin energy production at the end of 2022.
Colombia aims to sign 15 oil exploration contracts in 2021
Colombia aims to sign 15 oil exploration contracts in 2021, Mines and Energy Minister Diego Mesa said on Wednesday, while setting the country's crude production target for the year at 865,000 barrels of oil per day. Colombia's oil output slowed in 2020 amid declining demand, high supply and low prices during the coronavirus pandemic.
Enel-Codensa plans to invest $61.98 mn in projects this year
Enel-Condensa plans to invest Col$224 billion ($61.98 million) in 2021. Of that amount, Col$110 billion ($30.44 million) will be allocated to the Bogotá-Region 2030 expansion plan and Col$114 billion ($31.54 million) to other projects. Earlier this year, the company inaugurated Portugal, the first 100% digital substation in Colombia, which required an investment of Col$25 billion ($6.92 million).
Colombia restricts flights to and from Brazil over new coronavirus strain
Colombia will restrict flights to and from Brazil for a month to prevent the spread of a new strain of the coronavirus circulating there, President Ivan Duque said. Monitoring at the border between Brazil, Latin America’s largest country, and Colombia will also be increased, the president said.
Government deficit could reach $24.90 billion in 2021
A reduction in revenue collection and higher spending due to the effects of the COVID-19 pandemic are pushing the Central Government's fiscal deficit for this year to Col$90 trillion ($24.90 billion), which would represent 8.3% of GDP, according to a report by Corficolombiana.
