The U.S. objective to impose secondary tariffs on all countries purchasing Venezuelan oil and gas has stalled President Petro’s plans for greater energy integration. Petro has urged Ecopetrol to explore Qatari gas imports amid rising domestic shortages and potential trade tensions with Washington.
Designer Andrea Agudelo launches SER, a hat couture brand blending fashion, art, and mindfulness. Her debut collection, Born from Light, features handcrafted headwear symbolizing identity and transformation. SER will expand globally through gallery installations and a bespoke atelier in Medellín.
Colombian President Gustavo Petro has called for diversifying natural gas imports, ordering state-owned Ecopetrol to source from Qatar in order to reduce costs and end reliance on the U.S. His proposal comes with rising gas prices, inflation concerns, and a significant new gas discovery off Colombia’s coast.
U.S. tariffs on Colombian agricultural exports, including coffee and flowers, threaten thousands of jobs, particularly for women in rural areas. The peso faces devaluation, and China may seize the opportunity to expand its influence as Colombia seeks alternative trade partners.
Colombia’s ANATO tourism fair opens amid security concerns and President Petro’s no show during the opening cereomony. Industry leaders emphasized tourism’s economic importance, while Bogotá, Barranquilla and Santa Marta showcase growth, sustainability, and international partnerships to boost the country’s global standing.
Colombia’s iconic Aguardiente Amarillo will now be available nationwide after a historic ruling by the Constitutional Court, allowing the spirit to reach new markets beyond its coffee region origins, boosting the country’s rich liquor heritage.
The Colombian peso is experiencing significant volatility as the U.S. presidential election unfolds, with the dollar climbing to 4,420 COP, reflecting heightened market uncertainty. In October, the peso dropped by 0.26%, outpacing declines in other Latin American currencies.
At COP16 in Cali, Colombia and Costa Rica announced a landmark fund to protect the Chocó Biogeographic Region, a vital biodiversity corridor spanning Central and South America.
Over 60% of Colombian business owners are contemplating relocating abroad due to economic instability under President Gustavo Petro, a Fenalco survey reveals. High interest rates, rising inflation, and security concerns have worsened the business climate, with leaders urging clearer economic policies for recovery.
Bogotá has solidified its position as the leading hub for startup investment in Colombia, capturing the largest portion of direct foreign capital by mid-2024, according to the latest report from Invest in Bogotá.
A Colombian court has ordered the suspension of operations at the Uchuva-2 offshore natural gas well in the Caribbean. The Uchuva-2, part of the Tayrona block, is critical for Colombia’s energy security.
Colombia’s foreign direct investment fell by 28% to USD 6.7 billion in the first half of 2024. The decline reflects growing economic and security challenges, including recent attacks on energy infrastructure. The data was released by the Central Bank.
A nationwide transport strike in Colombia has paralyzed key routes and stranded travelers, following the government’s sudden diesel price hike. Major disruptions hit Bogotá and four departments, with blockades and protests escalating. Transport Minister María Constanza García called for emergency talks amid rising concerns over food distribution and mobility.
Colombia faces widespread flight cancellations as a jet fuel shortage, triggered by a refinery failure, impacts major airports across the country. Ecopetrol announced addtional A1 supplies will be delivered to aiports nationwide.
Ecopetrol’s profits fell by 24% in the first half of 2024 due to lower oil prices and unfavorable exchange rates, marking the third consecutive quarter of declining earnings. The company is exploring strategic options amid domestic and global challenges, including potential natural gas imports from Venezuela.
The U.S. Department of State’s 2024 Investment Climate report highlights rising uncertainty for investors in Colombia under President Gustavo Petro, with economic growth slowing to 0.6% in 2023 due to decreased investment and high-interest rates.