Finance

Forum in Cartagena examines the economic and cultural weight of the Bazurto market
At the forum "Mercado Público de Cartagena, una transición histórica y cultural", held at the Biblioteca Distrital y Centro Cultural del Pie de la Popa, participants analyzed the economic and cultural value of Bazurto, which generates close to 10,000 direct jobs, 30,000 indirect ones and moves around 720 tons of goods daily. Specialists in economics, architecture and gastronomy discussed the challenges facing public markets and the need to balance their commercial activity, cultural heritage and the city's urban development.
FinanceColombiaEl Universal (Cartagena)Oct 29AI
Corporate medical plans in Colombia would rise 9.3% in 2027, according to Aon
The costs of medical plans that companies offer their employees in Colombia would rise 9.3% in 2027, according to Aon projections included in its Global Medical Trend Rates Report 2027. The increase would outpace expected general inflation and pressure organizations' budgets. Aon attributes the pressure to conditions such as cancer, cardiovascular and infectious diseases, as well as risk factors including obesity, hypertension and physical inactivity. The figure for Colombia is below the Latin America and Caribbean average (10.4%) and above the global average (9%).
FinanceColombiaDiario del SurOct 29AI
Drummond recovered 24,932 tons of waste in 2023, 82% of what it generated
Drummond Ltd. has incorporated circular economy practices at its mining operations in Colombia through its Comprehensive Waste Management Program. At a plant in Cesar it processes used tires from mining equipment to turn rubber and steel into raw materials for flooring, synthetic pitches and modified asphalt. It also sorts scrap metal, wood, cardboard, plastic, glass, used oils and batteries. In 2023 it reported recovering 24,932 tons of waste, 82% of the total generated.
FinanceColombiaDiario del SurOct 29AI
Fenalco asks that Colombia's 2027 minimum wage rise no more than 9%
Fenalco proposed that Colombia's minimum wage for 2027 rise no more than 9%, based on the inflation-plus-productivity formula. Its president, Jaime Alberto Cabal, made the proposal at the Asocajas congress in Cartagena. With the current base wage of $1,750,905, a 9% increase would mean $157,581 and leave the minimum at $1,908,486, excluding the $249,095 transport allowance. The CUT, CTC and CGT unions will seek 38.5%, which would take the base wage to $2,424,003.
FinanceColombiaDiario del SurOct 29AI
Banco de Bogotá projects an 8.5% minimum wage increase for 2027
Banco de Bogotá projects that Colombia's minimum wage would rise 8.5% in 2027, bringing the monthly base pay to about 1.9 million pesos excluding transport allowance. Its Economic Research Department considers 8% technically desirable, based on an estimated 6.8% inflation at the end of 2026 and 1.2% labor productivity. The bank warns that a double-digit increase would force Banco de la República to keep rates high for longer.
FinanceColombiaDiario del SurOct 29AI
Dollar opened higher this Thursday in Colombia, $18.32 above the TRM
The currency opened the session higher at 3,180.67 pesos, a difference of 18.32 pesos from the day's TRM of 3,162.35. During the morning it recorded a low of 3,180 and a high of 3,182.50 as of 8:05 a.m. An analysis by José Luis Hernández of Corficolombiana noted that on October 29 a triple macro data release was expected in the United States —inflation, GDP and jobless claims— that could accelerate or not the Fed's rate decisions.
FinanceColombiaEl Universal (Cartagena)Oct 29AI
Dollar rose at the October 29 opening and traded at 3,180.67 pesos
The dollar in Colombia opened this Thursday, October 29, 2026, at 3,180.67 pesos, 18.32 pesos above the day's TRM of 3,162.35, according to the opening report. By 8:05 a.m. it had recorded a low of 3,180 and a high of 3,182.50. The TRM rose 14.33 pesos from Wednesday's 3,148.02, a 0.46% change that ended a streak of declines. So far this year it has fallen 15.83%.
FinanceColombiaNoticias RCNOct 29AI
Dollar opens higher on October 29 at $3,180, $18 above the TRM
The dollar opened the October 29 session at $3,180, an increase of $18 compared with the TRM of $3,162 set by the SuperFinanciera. In the first minutes the currency showed volatile behavior, with a maximum price of $3,182, a minimum of $3,180 and an average of $3,181. Traded volume so far stands at 3,250 million, with an average volume of 361 million. Globally, the dollar index was down 0.18%, to 70,905 units.
FinanceColombiaRevista SemanaOct 29AI
Dollar closed at COP 3,147.40 as markets await Banco de la República decision
The dollar closed Tuesday at COP 3,147.40, after moving from COP 3,145 on Friday, October 23, to COP 3,130 on Monday, October 26. Analyst Diego Sogamoso noted the currency trades below its 50-day moving average, near COP 3,173. The Fed meets on October 27 and 28 and the market sees it likely holding its rate between 3.75% and 4%. Banco de la República decides this Friday, October 30, on a rate currently at 12.25%.
FinanceColombiaEl EspectadorOct 29AI
What the nominal exchange rate is and how the dollar's value is calculated in Colombia
The nominal exchange rate indicates how many Colombian pesos are needed to buy one U.S. dollar, the reference currency given its use in Colombia's trade, investment and international financing transactions. Its variations affect imports and exports: when it rises, the peso depreciates and imports become more expensive; when it falls, it appreciates and reduces exporters' competitiveness. The official reference is the TRM, the simple arithmetic average of the weighted rates of dollar-peso purchase and sale operations carried out in a day.
FinanceColombiaPulzoOct 29AI
Colombian companies reshape operating models amid slowing consumption and high interest rates
Colombia's economy is going through a complex cycle marked by slowing domestic consumption, high interest rates and currency volatility, according to an analysis by Diario del Sur. Local companies are reshaping their operating models with fixed-cost efficiency, renegotiation of liabilities, supplier diversification and digitalization of distribution channels. Restricted access to commercial bank credit is holding back expansion plans, while MSMEs need soft microcredit lines and regional tax relief.
FinanceColombiaDiario del SurOct 29AI
Fed holds rates at 3.75%-4% two days before Banco de la República's decision
The U.S. Federal Reserve kept its interest rates in the 3.75%-4% range and said it will wait for more data to define the appropriate stance to bring inflation back to 2%. The decision precedes Banco de la República's meeting on Friday, October 30, which will set its rate, currently at 12.25%. Bancolombia expects a 25-basis-point hike to 12.50%, with annual inflation at 6.29% in September.
FinanceColombiaEl EspectadorOct 29AI
Colombian peso reference rate rises to 3,162.35 as exchange houses post wide spreads
The Representative Market Rate in force this Thursday, October 29, 2026, stands at 3,162.35 pesos per dollar, an increase of 14.33 pesos (0.46%) from Wednesday's 3,148.02 pesos, according to Superintendencia Financiera records. At exchange houses, Cartagena posts the highest buying price at 3,750 pesos and Medellín the lowest selling price at 3,160 pesos. The widest spread is in Cartagena (230 pesos) and the narrowest in Cúcuta (40 pesos).
FinanceColombiaRevista SemanaOct 29AI
Cafés de Colombia Expo 2026 closes with record 45,698 attendees over four days
Cafés de Colombia Expo 2026 drew 45,698 people over four days, a historic attendance record that, according to the text, consolidates the event as the most important coffee fair in the Americas. First Lady Ana Lucía Pineda opened the fair; Vice President José Manuel Restrepo and three ministers toured the stands. The text argues that Colombia is building a new stage for its coffee industry based on science, innovation, quality and consumer knowledge.
FinanceColombiaEl PilónOct 29AI
EPM sells its stake in Energía Atenea (Energua) to a Panama-domiciled group
Empresas Públicas de Medellín (EPM) sold its stake in Energía Atenea, commercially known as Energua, to the group Latam Energy Distribution Group S. A., domiciled in Panama. According to the analysis, the transaction confirms the critical reality already known in the department of Cesar, where the electricity situation is described as a crisis of financial sustainability, infrastructure, governance and civic culture, beyond high tariffs, bills and blackouts.
FinanceColombiaEl PilónOct 29AI
Proposals to avoid a new blackout: energy security panel and a plan for Air-e
At the hearing on the energy crisis held by the Senate's Fifth Commission in Barranquilla on Friday, October 23, proposals were put forward for the Caribbean region and the country: create a national energy security panel for 2026-2027 with a public inventory of available energy, carry out an accelerated plan to unlock transmission and distribution connections, and define a financial and operational path to stabilize Air-e without passing its imbalances on to users. The application of article 3.3 of Law 142 of 1994 was also requested.
FinanceColombiaLa RepúblicaOct 29AI
ETB refinances USD 285.83 million debt with four banks to extend maturities
Empresa de Telecomunicaciones de Bogotá (ETB) refinanced its financial debt with Davibank, Itaú Colombia, Bancolombia and Banco Santander Colombia for 900,000 million pesos (about USD 285.83 million). The operation does not increase ETB's debt level: it extends the average life of the debt from three to five years and adds a two-year grace period on principal payments. According to the advisors, it will free up about COP 723,000 million (around USD 229.53 million) for investment and its transformation plan.
FinanceColombiaLexLatinOct 28AI
Colsubsidio awards 33 sustainable projects at the eighth edition of Xpossible
Colsubsidio recognized 33 business projects at the eighth edition of Xpossible, an initiative highlighting environmental and social practices in Colombia. It received 337 applications from 24 departments, focused on climate change, biodiversity and inequality. Among the winners are Cenit, for a conservation initiative in Tumaco benefiting 2,000 families and impacting 1,300 hectares of native forest; fintech Monet, for its People on the Move program with more than 50,000 loans and $4 billion pesos disbursed; and Fundación Alpina, for a rural extension system that has reached more than 18,000 families.
FinanceColombiaLa FMOct 28AI
Crypto moved US$29.1 billion in Colombia between July 2025 and June 2026
According to Colombia Fintech's first report on crypto assets, stablecoins and blockchain, presented on October 28, Colombia recorded US$29.1 billion in crypto activity between July 2025 and June 2026, growing 13.8% versus 9.8% for the region, based on Chainalysis data. Stablecoins account for about 48% of purchases on local exchanges. The association proposes repealing Superintendencia Financiera circulars and creating a comprehensive framework with coordinated supervision and a public registry of providers.
FinanceColombiaEl TiempoOct 28AI
Cali seeks to revive its economy with 126 events a year and a projected benefit of COP 875 billion
Cali's Mayor's Office announced the city's Economic and Mood Reactivation Plan, aimed at attracting large shows and strengthening business activity through a permanent events schedule. The project, coordinated by Billboard Colombia, envisions 126 events a year, an estimated economic benefit of COP 875 billion and attendance of at least 530,000 people. The schedule includes six stadium events, 20 in arenas and 100 in theaters and outdoor venues. Corfecali will act as liaison between promoters and the local government.
FinanceColombiaEl País (Cali)Oct 28AI