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.
The Colombian peso depreciates sharply against the dollar, hitting a high of $4,150 amid market uncertainty and upcoming fiscal policy announcements by the Petro government.
Colombia’s suspension of coal exports to Israel with the Gaza conflict sparks industry concern and could strain U.S investor confidence in the South American nation.
The numbers of Colombians who are leaving the country to never return has reached historiic levels, with some 1,200 every day according to the country’s migration entity.
Renowned designer Olga Piedrahita celebrates 35 years at the helm of Colombia’s fashion industry, marking her legacy with elegance and innovation. The Medellín-born designer will receive a lifetime recognition at the inauguration of Bogotá Fashion Week.
Colombia’s economy grows 0.7% in Q1 2024, the slowest in four years, amid market uncertainty under President Gustavo Petro’s administration.
Business leaders from over 35 nations gather at the inaugural Americas Summit of the World Federation of Chambers (ICC) in Bogotá, forging partnerships and exploring opportunities for economic growth and collaboration across the region.
Bogotá on the brink: Water shortage emergency declared as San Rafael Reservoir levels plummet to lowest in 40 years. Citywide water rationing starts Thursday, April 11 in 10 localities.
Colombia faces imminent energy rationing and electricity blackouts as reservoir levels hit a 20-year low, prompting conservation measures in Bogotá.
Emirates Airlines has announced a planned daily flight between Dubai to Bogotá, starting June 3, pending approval from Colombia’s Civil Aviation Authority. The flight will be operated by a Boeing 777-300ER aircraft.
Colombia’s GDP stagnates at 0.6% in 2023, casting doubt on President Petro’s economic policies and raising concerns for the nation’s financial future.
Standard & Poor’s warns of a potential downgrade for Colombia’s credit rating in 2024, citing a negative outlook amid economic challenges, including exports, and weak investor confidence.