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The dollar in Colombia rose COP$25 and closed the week above COP$3,190, in a session marked by the filing of the tax reform. The market was also awaiting the Banco de la República's decision, which kept interest rates unchanged at 12.25%.
Read the flashValora AnalitikWall Street suffered its worst drop since June after a bruising selloff in technology shares fueled doubts over whether the artificial-intelligence frenzy that powered the equity bull market is overblown. Disappointing tech results drove the decline: the Nasdaq 100 fell 3.5% and briefly crossed the threshold of a technical correction. Intel slid the most in over four decades as its outlook missed estimates, while Amazon slipped 1.4% on greater capital spending. The S&P 500 dropped 1.8%, breaching its 100-day moving average.
Read the flashBloomberg.comBanco de la República governor Leonardo Villar said the central bank views the fiscal rescue bill presented by the De La Espriella government favorably, according to Portafolio.
Read the flashPortafolioThe Banco de la República board kept the interest rate unchanged at 12.25%. Governor Leonardo Villar also announced the purchase of US$2 billion from the Government as a complement to the reserve accumulation program.
Read the flashLa RepúblicaBanco de la República decided to keep its interest rate unchanged at 12.25%. The decision came with four board members voting in favor and three backing a 25 basis point (bps) increase.
Read the flashPortafolioBanco de la República governor Leonardo Villar said the central bank will buy US$2 billion from the government over the remainder of 2026. According to Villar, the operation will be carried out at the exchange rate in effect on the day of the purchase.
Read the flashValora AnalitikAmerican International Group (AIG) completed its acquisition of Everest Compañía de Seguros. Everest also announced an agreement to sell its insurance operations in Chile to AIG, according to La República.
Read the flashLa RepúblicaBanco de la República governor Leonardo Villar confirmed on Friday that interest rates in Colombia will remain unchanged at 12.25%, according to Valora Analitik.
Read the flashValora AnalitikBanco de la República kept its monetary policy interest rate at 12.25% after a split decision by its board: four directors voted to leave it unchanged and three proposed a 25-basis-point hike that would have taken it to 12.50%. The announcement was presented on Friday, October 30, by the central bank's general manager, Leonardo Villar. The decision came amid a rise in annual inflation, signs of economic slowdown and debate over public finances.
Read the flashLa FMFecoljuegos asked for a review of the tax adjustments set out in the Rescue Law for the gambling sector. The guild is carrying out a technical review of the initiative and is preparing a tax proposal to present to the Ministry of Finance and the Congress of the Republic.
Read the flashLa RepúblicaFecoljuegos asked for a review of the tax adjustments affecting gambling. The trade group is carrying out a technical review of the initiative and is preparing a tax proposal to present to the Ministry of Finance and the Congress of the Republic.
Read the flashLa RepúblicaA program in Antioquia has helped more than 1,000 women find employment, according to Valora Analitik. The initiative offers companies incentives equivalent to 100% of the social security and parafiscal contributions borne by the employer for each new job created for a woman.
Read the flashValora AnalitikThe Banco de la República board will announce its decision on the interest rate. At its previous meeting, the first with Finance Minister Miguel Gómez, the central bank chose to raise the rate by 25 basis points.
Read the flashLa RepúblicaBanco de la República left its interest rate unchanged at 12.25%, according to La República. The decision was taken at the board's latest meeting, the first for Finance Minister Miguel Gómez. The outlet reports that a 25 basis point hike was decided at that meeting.
Read the flashLa RepúblicaColombian airports registered 44.1 million passengers over nine months, despite air travel costs, according to Aerocivil data cited by Portafolio. In September alone, the country's terminals moved 4.7 million passengers.
Read the flashPortafolioA section of the De la Espriella government's bill proposes raising the occasional gain tax rate on lotteries and betting. According to that section, the measure would allow the country to collect nearly $200 billion pesos in 2028.
Read the flashValora AnalitikA Mastercard study finds that 62% of SMEs in Colombia see cyberattacks and fraud as a barrier to using digital payments, a threat that is holding back their digital growth, according to Portafolio.
Read the flashPortafolioCasaideas opened its second store in Medellín, located at the Arkadia shopping mall, according to Portafolio. With this location, the brand now has its second site in that city and plans further investments in Colombia.
Read the flashPortafolioAIG completed the acquisition of insurer Everest in Colombia as part of a regional expansion. The company also agreed to acquire Everest's operations in Chile, in a transaction it expects to close during the first half of 2027.
Read the flashValora AnalitikA BlackRock survey indicates that inflation remains the main macroeconomic concern for insurers' investment strategy. The poll also shows that more than 40% of insurers allocate more than 15% of their investments to private markets.
Read the flashPortafolioThe government's tax reform bill would require online sports betting and gambling in Colombia to pay 19% VAT on user deposits, according to Valora Analitik. The measure is part of the initiative presented by the De la Espriella government.
Read the flashValora AnalitikThe release of quarterly results from some of the largest technology companies generated uncertainty among investors and doubts about their revenue, dragging down Wall Street. Microsoft fell 1.5% and Alphabet, Google's parent company, was also in focus over its revenue growth. Other companies in the sector were affected on the same day.
Read the flashforbes.esThe fiscal rescue law includes powers to modify DIAN's administrative career system and would eliminate the annual merit-based contests to join the entity, according to Valora Analitik. The rule would also allow changes to the entry requirements for public employment at the tax authority.
Read the flashValora AnalitikGas transporter TGS led the declines among Argentine stocks listed on Wall Street after reporting its earnings. The company's net profit fell 26% in the third quarter due to the reorganization of the transport system. TGS's CFO addressed the financing of the NGL project, while bank analysts assess the stock's potential.
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