Colombian Stocks : BVC, Davivienda Decline; Petrominerales Gains

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-ciYfXEUAwoU/Tlw5kn0WlVI/AAAAAAAACHE/GAFW8DGrE1U/s1600/bvc+good+morning+colombia+news.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="92" src="http://2.bp.blogspot.com/-ciYfXEUAwoU/Tlw5kn0WlVI/AAAAAAAACHE/GAFW8DGrE1U/s200/bvc+good+morning+colombia+news.gif" width="200" /></a></div><div style="text-align: justify;">The following companies are having unusual price changes in Bogota trading. <br /> <br /> Stock symbols are in parentheses and prices are as of 11:36 a.m. New York time.<br /> <br /> The IGBC Index rose 1.1 percent to 13,346.66, while the Colcap Index gained 0.8 percent to 1,616.32.<br /> <br /> Bolsa de Valores de Colombia (BVC) SA, the operator of Colombia’s main stock exchange, fell 1.3 percent to 37.5 pesos. <br /> <br /> BVC and Bolsa de Valores de Lima SA said Aug. 26 they will cancel merger plans, without offering further details.<br /> <br /> The two bourses will focus on the integration of stock trading between Colombia, Peru and Chile, known as MILA, according to an e-mailed statement. MILA trading started in May.<br /> <br /> Banco Davivienda SA (PFDAVVND) , Colombia’s third-biggest bank, fell 1.9 percent to 20,900 pesos. <br /> <br /> Stockholders increased the number of shares that can be sold in offerings to 96 million, according to a regulatory filing Aug. 26. <br /> <br /> The bank offered 26 million shares in a sale last year.<br /> <br /> Petrominerales Ltd. (PMGC CB), a Calgary-based oil company with production and exploration in Colombia, rose 5.4 percent to 53,900 pesos, the highest since it started trading Aug. 4. <br /> <br /> Oil rose for a third day in New York, increasing with equities on optimism that the economy will keep expanding, and a report that U.S. consumer spending rose in July. </div>

Colombian Stocks : BVC, Davivienda Decline; Petrominerales Gains

The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:36 a....

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Rep. Vern Buchanan : Free trade pacts vital

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-TWda7toZCnw/Tlrp7WSeppI/AAAAAAAACGs/HjafzFZfaAM/s1600/Rep.+Vern+Buchanan+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="http://4.bp.blogspot.com/-TWda7toZCnw/Tlrp7WSeppI/AAAAAAAACGs/HjafzFZfaAM/s200/Rep.+Vern+Buchanan+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">As a member of the powerful U.S. House Ways and Means Committee, one of my top priorities is promoting pro growth policies that create jobs and get our economy back on track.<br /> <br /> One important action Congress should take when it returns in September is to pass a package of free-trade agreements that will generate thousands of jobs in Florida and elsewhere.<br /> <br /> In fact, the Obama administration estimates that as many as 250,000 new American jobs could be created if we adopt pending agreements with Colombia, Panama and South Korea.<br /> <br /> Unfortunately, these trade deals have been languishing in Congress for years, frozen by gridlock and partisan squabbling.<br /> <br /> These long-stalled proposals would be a major win for Florida and its 14 deepwater seaports. Currently, these ports generate over $65 billion in economic value to the state.<br /> <br /> The U.S. International Trade Commission reported that implementation of these trade agreements would increase U.S. exports by $13 billion, adding $10 billion to our gross domestic product (GDP).<br /> <br /> Florida truly is a gateway to the rest of the world. Currently, almost 40 percent of exports to Colombia and about 30 percent of exports to Panama come through our state. <br /> <br /> Removing tariffs on U.S. exports and increasing trade with these countries means more jobs in Florida.<br /> <br /> Take a look at our own backyard. <br /> <br /> Port Manatee and its partners move approximately nine million tons of cargo each year, including fresh produce, forestry products, petroleum products, citrus juice products, fertilizer, steel, aluminum, automobiles, cement and more.<br /> <br /> Port Manatee adds more than $2.3 billion dollars annually in regional economic impact and supports more than 24,000 jobs. Expanding trade is an opportunity for jobs in our part of Southwest Florida.<br /> <br /> It is imperative that we enact these three FTAs immediately as these countries are entering in trade agreements with other countries.<br /> <br /> For example, Canada and Colombia just entered into an agreement which means that for no good reason U.S. workers and exporters are now disadvantaged in Colombia, a key export market for American made goods and services.<br /> <br /> Also, South Korea and the European Union have moved on a trade agreement. <br /> <br /> Reports show that EU exports to South Korea are already up nearly 20 percent in the handful of weeks since that agreement entered into force.<br /> <br /> Again, more delay putting American jobs at risk.<br /> <br /> Ninety-five percent of the world’s consumers live outside the U.S. <br /> <br /> That means that as we look to expand and sell more of our goods and services, we must look beyond our borders.<br /> <br /> With our national unemployment rate over 9 percent, this is an easy way to get us back on the road to recovery.<br /> <br /> Unfortunately, we are losing ground to foreign competitors as a result of our inaction. We need to get aggressive with our trade policy and get Americans back to work.<br /> <br /> Mark Wilson, president and CEO of the Florida Chamber of Commerce, recently said that “Florida faces a once in a generation opportunity to transform its economy by becoming a global hub for trade, logistics, service and export-oriented manufacturing activities.<br /> <br /> ” I couldn’t agree more.<br /> <br /> Washington must act and act now; we cannot afford to let these trade agreements languish any longer.<br /> <br /> Vern Buchanan, represents the 13th Congressional District, which includes most of Manatee County.</div>

Rep. Vern Buchanan : Free trade pacts vital

As a member of the powerful U.S. House Ways and Means Committee, one of my top priorities is promoting pro growth policies that create jobs ...

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India attempting to deepen trade ties with Latin America

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-Z7QXimZ65Gg/Tlro3h_eGEI/AAAAAAAACGo/HwNgo7kHXX0/s1600/rahull+khullar+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="168" src="http://1.bp.blogspot.com/-Z7QXimZ65Gg/Tlro3h_eGEI/AAAAAAAACGo/HwNgo7kHXX0/s200/rahull+khullar+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">At a time when demand for Indian goods in developed countries is declining, the country is trying to deepen trade relationships with Latin American countries to explore alternative growth frontiers.<br /> <br /> Commerce secretary Rahul Khullar will lead a business delegation of engineering companies to Colombia and Panama on a five-day visit from Monday, “with an eye to explore the possibility of bilateral trade agreements” with the Latin American nations and to encourage India’s trade and investment in the region, a commerce ministry official said, requesting anonymity.<br /> <br /> “Colombia and Panama are crucial for us as we are aiming to increase our trade ties with the Andean Community of Latin American countries,” the official said. <br /> <br /> The Andean Community is a customs union comprising the South American countries of Bolivia, Colombia, Ecuador and Peru.<br /> <br /> India already has a preferential trade agreement (PTA) with the Mercosur bloc comprising Brazil, Argentina, Uruguay and Paraguay that came into effect in 2.009 and covers around 900 products. <br /> <br /> A similar trade pact with Chile has been effective since 2007.<br /> <br /> The official said Panama is a great place to have access to the Sistema para la Integración Centroamericana, or the System for the Central American Integration (Sica), region. <br /> <br /> Apart from Panama, Sica includes six other countries—Belize, Costa Rica, Guatemala, Honduras, Nicaragua, El Salvador and the Dominican Republic.<br /> <br /> Exports to Latin American countries rose 72.5% in 2010-11 to $10.7 billion (`49,327 crore), according to latest commerce ministry data. <br /> <br /> However, India shares a trade deficit of $3.2 billion with the continent, with imports growing at 34% to $14 billion during the same year.<br /> <br /> The official said apart from growing trade relations, Latin America has been on the radar of Indian investors with many Indian multinationals making their foray into the continent.<br /> <br /> Among major firms present in Latin America are Tata Motors Ltd (automobiles), Tata Consultancy Services Ltd (information technology), Dr Reddy’s Laboratories Ltd (pharma), United Phosphorus Ltd (agrochemicals), Shree Renuka Sugars Ltd, Havells Sylvania Germany GmbH (lighting equipment), Videocon Industries Ltd (television) and ONGC Videsh Ltd (oil).<br /> <br /> There’s great demand for Indian engineering and textiles products in Latin America, said another commerce ministry official.<br /> <br /> “There is a postive affiliation for our products,” he said, requesting anonymity. “The markets are ideal for medium-range prducts.”<br /> <br /> The second official said the lack of direct shipping lines to these countries substantially increases freight costs for Indian exporters as they have to route their products through Johannesburg in South Africa.<br /> <br /> “We are in talks with Shipping Corp. of India (Ltd) to establish direct shipping lines with such counties,” the official added.<br /> <br /> With the developed world going through a phase of crisis, India has to increasingly expand to new markets such as Latin Amrica, said Abhijit Das, head of the Centre for WTO Studies.<br /> <br /> “We are already considering deepening trade ties with Brazil and expanding the scope of the India-Mercosur PTA. <br /> <br /> The developing countries in Latin America can provide us new growth opportunities even ahead of African countries,” he added. <br /> <br /> However, he said it should not be an either-or situation between African and Latin American countries for expanding our trade ties.</div>

India attempting to deepen trade ties with Latin America

At a time when demand for Indian goods in developed countries is declining, the country is trying to deepen trade relationships with Latin A...

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Colombia Peso Declines as Bernanke Doesn't Signal New Stimulus

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-iPW2XOQmlhA/TlgmEWK2DlI/AAAAAAAACGg/XofM-6l-3Ik/s1600/Chairman+Ben+S.+Bernanke+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="http://2.bp.blogspot.com/-iPW2XOQmlhA/TlgmEWK2DlI/AAAAAAAACGg/XofM-6l-3Ik/s200/Chairman+Ben+S.+Bernanke+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Colombia's peso fell, posting its second weekly drop this month, after Federal Reserve Chairman Ben S. Bernanke didn't signal new steps for stimulating growth in the U.S. and a report showed the world's biggest economy grew less than estimated in the second quarter.<br /> <br /> The peso declined 0.2 percent to 1,794.50 per dollar at 2:20 p.m. New York time, from 1,790.50 yesterday. It weakened 0.7 percent this week, after declining 0.6 percent in the period ended Aug. 5.<br /> <br /> The Fed "has a range of tools that could be used to provide additional monetary stimulus," Bernanke said in a speech today to central bankers and economists gathered at an annual forum in Jackson Hole, Wyoming, without providing details or signaling when or whether policy makers might deploy them. <br /> <br /> The U.S. economy expanded at an annualized 1 percent in the second quarter, down from a previous estimate of 1.3 percent, Commerce Department figures showed today.<br /> <br /> "U.S. growth figures this morning were already prompting risk aversion in markets and leading to declines in the peso," said Po Jeng, a currency analyst at Interbolsa SA, Colombia's biggest brokerage. <br /> <br /> The peso continued dropping, "helped by the fact Bernanke failed to announce the new stimulus investors had been speculating on," she said.<br /> <br /> The yield on Colombia's 10 percent bonds due in July 2.024 rose two basis points, or 0.02 percentage point, to 7.42 percent. <br /> <br /> The price fell 0.201 centavo to 120.948 centavos per peso.</div>

Colombia Peso Declines as Bernanke Doesn't Signal New Stimulus

Colombia's peso fell, posting its second weekly drop this month, after Federal Reserve Chairman Ben S. Bernanke didn't signal new st...

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Colombian Stocks : Ecopetrol, Odinsa Rise; Rubiales Declines

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-yy07Ixv_mUE/TlglPRRYdDI/AAAAAAAACGc/yoDRJO-TmNM/s1600/odinsa+group+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="59" src="http://2.bp.blogspot.com/-yy07Ixv_mUE/TlglPRRYdDI/AAAAAAAACGc/yoDRJO-TmNM/s200/odinsa+group+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">The following companies had unusual price changes in Bogota trading. <br /> <br /> Stock symbols are in parentheses and prices are as of 4 p.m. New York time.<br /> <br /> The IGBC Index rose 0.1 percent to 13,208.27 while the Colcap Index 0.4 percent to 1,604.16.<br /> <br /> Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, rose by 1.5 percent, the most in two weeks, to 3,680 pesos. <br /> <br /> The state-controlled company is getting closer to making a “big” oil discovery, RCN Radio reported, citing Chief Executive Officer Javier Gutierrez. <br /> <br /> The company is searching for new reserves in Colombia, Perú, Brazil and the U.S. Gulf of Mexico.<br /> <br /> Grupo Odinsa SA (ODINSA) , the Bogota-based engineering and construction company, rose 5.4 percent, the most in four months, to 8,750 pesos. <br /> <br /> The shares moved on a large block trade, said Andres Jimenez, head of international sales at Interbolsa SA, Colombia’s biggest brokerage.<br /> <br /> Pacific Rubiales Energy Corp. (PREC) , the Toronto-based oil producer that operates fields in Colombia, fell for a second day by 1.5 percent to 44,120 pesos. <br /> <br /> The regulator, known as Superintendencia de Sociedades, opened an investigation into companies including 10 affiliates of Rubiales on whether they should be included in a conglomerate for tax purposes, according to an Aug. 24 statement on its website. </div>

Colombian Stocks : Ecopetrol, Odinsa Rise; Rubiales Declines

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York...

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U.S. aid implicated in abuses of power in Colombia

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-RLtjRGbi6WI/TlZ_Y3II7VI/AAAAAAAACGY/Ya8naK-CVeY/s1600/alvaro+uribe+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="147" src="http://3.bp.blogspot.com/-RLtjRGbi6WI/TlZ_Y3II7VI/AAAAAAAACGY/Ya8naK-CVeY/s200/alvaro+uribe+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">The Obama administration often cites Colombia’s thriving democracy as proof that U.S. assistance, know how and commitment can turn around a potentially failed state under terrorist siege.<br /> <br /> The country’s U.S. funded counterinsurgency campaign against a Marxist rebel group and the civilian and military coordination behind it are viewed as so successful that it has become a model for strategy in Afghanistán.<br /> <br /> But new revelations in long running political scandals under former president Alvaro Uribe, a close U.S. ally throughout his eight year tenure, have implicated American aid, and possibly U.S. officials, in egregious abuses of power and illegal actions by the Colombian government under the guise of fighting terrorism and drug smuggling.<br /> <br /> American cash, equipment and training, supplied to elite units of the Colombian intelligence service over the past decade to help smash cocaine-trafficking rings, were used to carry out spying operations and smear campaigns against Supreme Court justices, Uribe’s political opponents and civil society groups, according to law enforcement documents obtained by The Washington Post and interviews with prosecutors and former Colombian intelligence officials.<br /> <br /> The revelations are part of a widening investigation by the Colombian attorney general’s office against the Department of Administrative Security, or DAS. <br /> <br /> Six former high ranking intelligence officials have confessed to crimes, and more than a dozen other agency operatives are on trial. <br /> <br /> Several of Uribe’s closest aides have come under scrutiny, and Uribe is under investigation by a special legislative commission.<br /> <br /> U.S. officials have denied knowledge of or involvement in illegal acts committed by the DAS, and Colombian prosecutors have not alleged any American collaboration. <br /> <br /> But the story of what the DAS did with much of the U.S. aid it received is a cautionary tale of unintended consequences. <br /> <br /> Just as in Afghanistán and other countries where the United States is intensely focused on winning counterterrorism allies, some recipients of aid to Colombia clearly diverted it to their own political agendas.<br /> <br /> For more than a decade, under three administrations, Colombia has been Washington’s closest friend in Latin America and the biggest recipient of military and economic assistance $6 billion during Uribe’s 2.002-10 presidency. <br /> <br /> The annual total has fallen only slightly during the Obama administration, to just over a half-billion dollars in combined aid this year.<br /> <br /> Although significant gains were made against the rebels and drug-trafficking groups, former high ranking intelligence agents say the DAS under Uribe emphasized political targets over insurgents and drug lords. <br /> <br /> The steady flow of new revelations has continued to taint Colombia’s reputation, even as a government led by Uribe’s successor and former defense minister, Juan Manuel Santos, has pledged to replace the DAS with a new intelligence agency this fall.<br /> <br /> Prosecutors say the Uribe government wanted to “neutralize” the Supreme Court because its investigative magistrates were unraveling ties between presidential allies in the Colombian congress and drug trafficking paramilitary groups. <br /> <br /> Basing their case on thousands of pages of DAS documents and the testimony of nine top former DAS officials, the prosecutors say the agency was directed by the president’s office to collect the banking records of magistrates, follow their families, bug their offices and analyze their court rulings.</div>

U.S. aid implicated in abuses of power in Colombia

The Obama administration often cites Colombia’s thriving democracy as proof that U.S. assistance, know how and commitment can turn around a ...

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Colombian ambassador meets with flower importers

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-0RTYZbZ3tRI/TlZ9i2pwQxI/AAAAAAAACGU/XvBnjqanqLs/s1600/colombian+flowers+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="62" src="http://2.bp.blogspot.com/-0RTYZbZ3tRI/TlZ9i2pwQxI/AAAAAAAACGU/XvBnjqanqLs/s200/colombian+flowers+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">The ambassador of Colombia to the United States met with floral workers in South Florida advocating for passage of a free trade agreement.<br /> <br /> Ambassador Gabriel Silva joined members of the Association of Floral Importers of Florida in Miami on Thursday. <br /> <br /> The workers say they've been hurt by the end of the Andean Trade Preference Drug Eradication Act, which expired in February. <br /> <br /> According to the organization, flower importers are now paying an estimated $2 million a month in duties.<br /> <br /> The Colombia Free Trade Agreement would give importers permanent duty free status. <br /> <br /> Advocates say it would create about 250,000 jobs in the United States.<br /> <br /> The florists are advocating for an extension of the Andean trade agreement until a free trade agreement can be implemented.</div>

Colombian ambassador meets with flower importers

The ambassador of Colombia to the United States met with floral workers in South Florida advocating for passage of a free trade agreement. ...

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Colombia Ecopetrol misses share sale goal

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-sf9tSoAIrtc/TlZ857zUwOI/AAAAAAAACGQ/CL_f98sHwOo/s1600/ecopetrol+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="137" src="http://4.bp.blogspot.com/-sf9tSoAIrtc/TlZ857zUwOI/AAAAAAAACGQ/CL_f98sHwOo/s200/ecopetrol+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Ecopetrol sold 1.6 pct stake, less than planned 1.67 pct<br /> <br /> Not planning to sell more shares in the short term<br /> <br /> Oil price, global economic turmoil hurt share sale <br /> <br /> Colombia's largest oil producer, Ecopetrol (ECO.CN)(EC.N), sold slightly less shares than planned due to a fall in global oil prices and world financial market turmoil, the state-run oil company said on wednesday.<br /> <br /> Fears have mounted that the developed world is shifting from slow growth to no growth hitting financial markets exacerbated by the recent downgrade of U.S. debt by a Wall Street ratings agency, while spot oil prices have also fallen.<br /> <br /> Amid crises like these, investors stick their hands in their pockets and don't take out any money," Ecopetrol President Javier Gutierrez told reporters.<br /> <br /> The company sold a 1.6 percent stake for 2.4 trillion pesos ($1.35 billion), slightly less than the planned 1.67 percent stake for which they expected to get 2.5 trillion pesos.<br /> <br /> Originally, the company had said it could sell more shares if demand was high.<br /> <br /> Gutierrez also said the company was not planning to sell more shares in the "short term."<br /> <br /> The shares are part of the 9.9 percent stake Ecopetrol plans to sell to finance a recapitalization program of Colombia's biggest oil company. <br /> <br /> Ecopetrol sold 10.1 percent of its shares in 2007 in its first offering.<br /> <br /> Ecopetrol plans to spend $80 billion to bolster its production to 1.3 million barrels per day by 2020 from its current levels of more than 700,000 bpd.<br /> <br /> Colombia, Latin America's No. 4 oil producer, has seen a massive increase in oil and mining investment since a U.S. backed crackdown against rebels dramatically improved security. ($1=1,781.91 pesos).</div>

Colombia Ecopetrol misses share sale goal

Ecopetrol sold 1.6 pct stake, less than planned 1.67 pct Not planning to sell more shares in the short term Oil price, global economic t...

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Colombian envoy urges Americans to support trade deal

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-q2_gxsYRV78/TlZ76Zg4PuI/AAAAAAAACGM/BcUX9zr78DM/s1600/Gabriel+Silva+Luj%25C3%25A1n+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://4.bp.blogspot.com/-q2_gxsYRV78/TlZ76Zg4PuI/AAAAAAAACGM/BcUX9zr78DM/s1600/Gabriel+Silva+Luj%25C3%25A1n+good+morning+colombia+news.jpg" /></a></div><div style="text-align: justify;">Gabriel Silva Luján says if a long stalled trade agreement doesn’t win congressional passage this fall, it will probably be the end of the road.<br /> <br /> Gabriel Silva Luján, Colombia’s ambassador to the United States, said wednesday that he thinks the tide may have turned on the long delayed free trade pact with Colombia, and he’s optimistic Congress will pass it when it returns to Washington in September.<br /> <br /> But he added: “If we don’t get this done this fall, it’s probably the end of it.’’<br /> <br /> The Obama administration had hoped to win passage of free trade agreements with Colombia, Panamá and South Korea before the august congressional recess but the fight over the debt ceiling and partisan squabbling intervened.<br /> <br /> “The debt ceiling debate was damaging for Washington’s credibility as a whole,’’ Silva said. <br /> <br /> But now, he said, “people are eager to come back to Washington and solve problems.’’<br /> <br /> And among those problems is creating jobs and putting Americans back to work. “Free trade means jobs,’’ said Silva. <br /> <br /> “I feel this will be a critical piece in President Obama’s job creation strategy that will be issued after Labor Day.’’<br /> <br /> Advocates of the free trade agreement say it potentially could create 6,400 jobs in Florida. <br /> <br /> The pact would remove tariffs on about 80 percent of U.S. exports to Colombia immediately and phase out those on others over time. <br /> <br /> Tariffs would also be removed on Colombia imports.<br /> <br /> Not only will the FTA create jobs in both countries, Silva said, but it will also protect existing jobs in the United States.<br /> <br /> Trade relationships with other countries have begun to displace the United States, he said. <br /> <br /> A Colombia free trade agreement with Canada went into effect Aug. 15, and Colombia also has a free trade pact with the Mercosur bloc.<br /> <br /> “Colombia has a very entrepreneurial economy, so our businessmen will look for opportunities elsewhere’’ if the FTA with the United States isn’t ratified, Silva said.<br /> <br /> Two weeks ago, Grupo Nutresa, the largest food manufacturer in Colombia and the importer of 50 percent of the wheat consumed in Colombia, announced it would be buying wheat from Canada, he said. <br /> <br /> Traditionally Colombia has imported 90 to 95 percent of its wheat and most of it comes from the United States.<br /> <br /> Other nations also are eroding U.S. market share in Colombia, he said. In 1.993, for example, China was Colombia’s 22nd most important trading partner. <br /> <br /> Now, it has zoomed to the No. 2 position.<br /> <br /> “If we don’t have the FTA between Colombia and the United States, the loser will be the United States,’’ said Silva.<br /> <br /> U.S. critics of the trade pact, including the nation’s largest unions, have said the agreement shouldn’t be passed until Colombia does more to protect its labor unionists against violence and to defend their rights. <br /> <br /> “Violence is still a problem in Colombia,’’ Silva acknowledged. But he said his country has made a lot of progress in controlling it in the past decade. <br /> <br /> Opponents of the FTA, Silva said, “want to keep Colombia hostage to our past.’’<br /> <br /> This summer, Silva has been crisscrossing the country talking with business groups and companies to garner support for the trade pact. <br /> <br /> He’ll be in South Florida through the weekend and plans to visit North Carolina on Monday. <br /> <br /> He’s already been to New Mexico and Northern Virginia and has meetings scheduled in Los Angeles and San Francisco.<br /> <br /> “There is a need to explain directly to the American people at the local level what an FTA between Colombia and the U.S. means for them,’’ said Silva. <br /> <br /> “There are many misconceptions.’’<br /> <br /> There are few states where trade with Colombia is as important as Florida. Two-way trade with Colombia totaled $7.6 billion in 2010 and the lion’s share of exports and imports were handled by South Florida airports and seaports. <br /> <br /> South Florida is the nation’s import center for Colombian flowers and Colombia was the region’s second largest trading partner last year.<br /> <br /> There are 5,500 Florida companies exporting to Colombia “most are small shops’’ and they stand to lose the most if the free trade pact isn’t approved, Silva said.<br /> <br /> He said a Florida radio equipment manufacturer that he spoke to this week, for example, must pay a 15 percent tariff to get products into Colombia, boosting its cost relative to a Canadian manufacturer that can now export equipment to Colombia without paying tariffs.</div>

Colombian envoy urges Americans to support trade deal

Gabriel Silva Luján says if a long stalled trade agreement doesn’t win congressional passage this fall, it will probably be the end of the r...

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Pacific Rubiales Shares Down As Colombia Regulators Open Inquiry

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-xPyEv_EYCxE/TlZ6upae58I/AAAAAAAACGI/Ax76o119BZw/s1600/pacific+rubiales+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="170" src="http://2.bp.blogspot.com/-xPyEv_EYCxE/TlZ6upae58I/AAAAAAAACGI/Ax76o119BZw/s200/pacific+rubiales+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Shares of oil company Pacific Rubiales (PEGFF, PRE.T) were trading lower thursday, one day after Colombian regulators said they're investigating whether the Toronto based company should be labeled a "business group" rather than a "company" due to its apparent links to more than a dozen subsidiaries and other companies.<br /> <br /> Rubiales, which also trades in Toronto, was 1.56% lower at 45,260 pesos (US$25.42) in early trading thursday on the Colombian Stock Exchange. <br /> <br /> The market as a whole was down 0.73%.<br /> <br /> Though based in Canada, most of Rubiales' assets are in Colombia where it is the country's largest and most productive private oil company. <br /> <br /> Local newspaper La Republica has run a series of articles in recent days questioning Rubiales' legal structure and quoting analysts and scholars who say the company's organization may be aimed at evading taxes.<br /> <br /> The newspaper says Rubiales controls several branch companies that manage oil fields and pipelines within Colombia but that were created as Panamanian or Canadian companies rather than Colombian.<br /> <br /> The Colombian government's regulator of companies, known as Supersociedades, said in a statement late Wednesday that in response to the recent articles it was "opening an administrative investigation to establish if it's verified that the following companies constitute a ... business group.<br /> <br /> " It then named 15 companies, including Pacific Resources Ltd. Carbon, Pacific Stratus Energy and Quifa Petroleum. <br /> <br /> The regulator said the list was only partial.<br /> <br /> A Pacific Rubiales official in Bogotá said the company had no immediate comment on the government's announcement or the allegations in the local press, but it might issue a statement later.<br /> <br /> Juan David Piñeros, an oil analyst at Colombia's biggest brokerage Inter Bolsa, questions whether Rubiales may have done anything improper, noting that many other firms in Colombia, especially oil companies, also have complex structures in which they manage various subsidiaries.<br /> <br /> Still, Piñeros said the question of whether Pacific Rubiales should be classified a business group as opposed to a company is a legitimate one that merits examination. <br /> <br /> "It's a matter for the regulator to determine," he said.<br /> <br /> Other analysts suggested the allegations made in La República and the ensuing government investigation were off base.<br /> <br /> "It is frankly borderline libel what is occurring considering that it makes no difference to the company and that there all manner of other companies here who have multiple subsidiaries," analysts at Celfin said in a report. </div>

Pacific Rubiales Shares Down As Colombia Regulators Open Inquiry

Shares of oil company Pacific Rubiales (PEGFF, PRE.T) were trading lower thursday, one day after Colombian regulators said they're inves...

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Colombia Cuts Gasoline Prices Due To Lower Oil Cost

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-z5wE8ukwB0k/TlRdSy1VDtI/AAAAAAAACGE/FppwH2kJPpU/s1600/colombian+gasoline+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="133" src="http://3.bp.blogspot.com/-z5wE8ukwB0k/TlRdSy1VDtI/AAAAAAAACGE/FppwH2kJPpU/s200/colombian+gasoline+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Colombians pay $4.85 a gallon for Regular unleaded gasoline<br /> <br /> Drop in gasoline prices is first in more than two years<br /> <br /> Colombia's government announced monday it is lowering gasoline prices due to a drop in international crude prices, a welcome and rare development for drivers in this andean nation who pay more at the pump than those in many industrialized nations.<br /> <br /> "We're lowering the price by 100 pesos ($0.06) so Colombians will see that gasoline prices can, in fact, go down," Carlos Rodado, the country's mines and energy minister, told a press conference.<br /> <br /> Rodado said international prices for crude oil have fallen to around $82 a barrel recently from an average of around $98 a barrel in July, giving the government the room it needed to lower prices slightly.<br /> <br /> Colombians currently pay about COP8,600, or $4.85, for a gallon of unleaded regular gasoline. <br /> <br /> Starting tuesday, the new price will be COP8,500, the minister said. <br /> <br /> The regulated prices vary slightly according to cities, with the capital Bogota paying among the highest.<br /> <br /> Except for a slight reduction in gasoline prices in early 2.009 in the wake of a sharp drop in global crude prices, Colombian consumers have grown used to prices at the pump steadily rising as the government seeks to do away with costly gasoline subsidies that have hurt its fiscal position.<br /> <br /> Colombia's Gasoline Price Stabilization Fund has a deficit of about 1.5 trillion pesos ($841 million) due to subsidies paid when international oil prices were increasing.<br /> <br /> Finance Minister Juan Carlos Echeverry said in the press conference that he hopes this deficit can be erased over the coming months, assuming oil prices don't begin to rise sharply again. <br /> <br /> He said the current price Colombian consumers pay for gasoline is very close to the amount it costs to produce, refine and transport the fuel to retail outlets.<br /> <br /> A truckers union and other labor groups in Colombia have staged minor protests this year against the rise in gasoline prices. </div>

Colombia Cuts Gasoline Prices Due To Lower Oil Cost

Colombians pay $4.85 a gallon for Regular unleaded gasoline Drop in gasoline prices is first in more than two years Colombia's gover...

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Colombia, Perú and Chile Integrated Stock Market Off To Slow Start

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-DXtbVSNJl5E/TlRchVCA_cI/AAAAAAAACGA/tVWe-LsQxBM/s1600/colombia+per%25C3%25BA+chile+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="80" src="http://3.bp.blogspot.com/-DXtbVSNJl5E/TlRchVCA_cI/AAAAAAAACGA/tVWe-LsQxBM/s200/colombia+per%25C3%25BA+chile+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Although the Integrated Latin American Market, or MILA, cross trading platform between Colombia, Chile and Perú has gotten to a slow start, enthusiasm in the initiative hasn't waned, a panel of investment bankers said Tuesday.<br /> <br /> The MILA has seen scant cross border trading of just over $2 million since it started operating at the end of May.<br /> <br /> "There are tax and regulatory kinks that need to be worked out in [the MILA], it needs more time before it really takes off," Manuel Bulnes, chief executive of investment bank and brokerage LarrainVial, said at the Chile Economic Summit. </div>

Colombia, Perú and Chile Integrated Stock Market Off To Slow Start

Although the Integrated Latin American Market, or MILA, cross trading platform between Colombia, Chile and Perú has gotten to a slow start, ...

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Colombian Peso Declines on Bets for Further Currency Measures

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-PUu4lK2vPxE/TlRbsp_YBeI/AAAAAAAACF8/aEaLQ_o9zsk/s1600/acciones+y+valores+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="170" src="http://4.bp.blogspot.com/-PUu4lK2vPxE/TlRbsp_YBeI/AAAAAAAACF8/aEaLQ_o9zsk/s200/acciones+y+valores+good+morning+colombia+news.jpg" width="200" /></a></div>Colombia’s peso fell, erasing an earlier advance, on bets policy makers will take further measures to ease gains in the local currency.<br /> <br /> The peso fell 0.2 percent to 1,784.15 per U.S. dollar at 12:57 p.m. New York time, from 1,780 yesterday. <br /> <br /> Today’s drop pared the peso’s gain this year to 7 percent, the best performance among the most traded Latin American currencies.<br /> <br /> “The market gets nervous when the peso gets closer to 1,750 on speculation the central bank will take further measures, and the exchange rate will turn around pretty fast,” said Jose Luis Alayon, an analyst at Bogotá based brokerage Acciones y Valores SA.<br /> <br /> In a bid to ease the peso’s rally, Finance Minister Juan Carlos Echeverry said in April that the government would create an overseas fund with as much as $1.2 billion from dollars bought in the local market through the end of 2011, and forgo repatriating funds from abroad for the rest of the year. <br /> <br /> Since Sept. 15, the central bank has bought a minimum of $20 million daily in the currency market, and plans to keep up the purchases until at least Sept. 30.<br /> <br /> Banco de la República will probably extend its daily purchases through the end of the year, said Alayon.<br /> <b><br /> Foreign Borrowing</b><br /> <br /> Andres Pardo, the head analyst at financial services holding company Corp. <br /> <br /> Financiera Colombiana, known as Corficolombiana, expects policy makers to impose limits on foreign borrowing as part of an effort to stem peso gains.<br /> <br /> The Colombian currency earlier rose as much as 0.2 percent on bets the Federal Reserve will take steps to bolster the U.S. economy, according to Po Jeng, an analyst at Interbolsa SA, Colombia’s biggest brokerage.<br /> <br /> Central bankers from around the world meet this week in Jackson Hole, Wyoming, for a conference that last year resulted in Fed Chairman Ben S. Bernanke signaling a second round of asset purchases that buoyed equity markets.<br /> <br /> The yield on Colombia’s 10 percent bonds due in July 2.024 rose four basis points, or 0.04 percentage point, to 7.33 percent. <br /> <br /> Yesterday the yield fell to 7.29 percent, its lowest level on a closing basis since the bonds were issued in 2.009. <br /> <br /> The price fell today 0.380 centavo to 121.792 centavos per peso.

Colombian Peso Declines on Bets for Further Currency Measures

Colombia’s peso fell, erasing an earlier advance, on bets policy makers will take further measures to ease gains in the local currency. Th...

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Colombian Stocks Jump 1.86% As Global Markets Rally

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-mqYbKDNTius/TlRa2R4W7hI/AAAAAAAACF4/J2pvF4sOJUk/s1600/colombian+peso+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="199" src="http://4.bp.blogspot.com/-mqYbKDNTius/TlRa2R4W7hI/AAAAAAAACF4/J2pvF4sOJUk/s200/colombian+peso+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Colombian Stocks Remain 12% Lower This Year<br /> <br /> Peso Weakens As Bets Build On Possible Capital Controls<br /> <br /> Colombian stocks rallied Tuesday, tracking big gains in U.S. stock markets and rising oil prices.<br /> <br /> The Colcap index, which encompasses the country's blue-chip stocks, jumped 1.86% to close at 1,605.45 points. <br /> <br /> Despite Tuesday's gains, Colombian stocks remain 3% lower this month and 12% lower in 2.011.<br /> <br /> Tuesday's gains were led by oil firms that were aided rising prices for crude oil in international markets. <br /> <br /> Shares of Canada-based Pacific Rubiales Energy (PRE.T) rose 2.5% to COP45,200, while state-controlled Ecopetrol (ECOPETROL.BO) jumped 1.1% to COP3,685.<br /> <br /> The Colombian peso, meanwhile, weakened as investors bet monetary authorities may soon announce new measures to stem the peso's growing strength against the dollar. <br /> <br /> The peso closed at COP1,789 to the dollar from COP1,780 a day earlier.<br /> <br /> The Eurasia Group said in a report late Monday the Colombian government is "likely inching closer to implementing capital controls, the administration is operating within a political context where the COP's appreciation is becoming more of an issue."<br /> <br /> Analysts say such forecasts can weaken the peso on the assumption that capital controls or other measures might cause an immediate drop in the trading value of Colombia's currency.<br /> <br /> The yield on Colombia's peso denominated bond due July 2.024 closed at 7.346%, after ending a day earlier at 7.301%. </div>

Colombian Stocks Jump 1.86% As Global Markets Rally

Colombian Stocks Remain 12% Lower This Year Peso Weakens As Bets Build On Possible Capital Controls Colombian stocks rallied Tuesday, tr...

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Big Harvest May Cool Down Coffee

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-9jAL9ABdgMA/TlMEPgEFlBI/AAAAAAAACF0/_YofadZw-jA/s1600/arabica+coffee+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="135" src="http://3.bp.blogspot.com/-9jAL9ABdgMA/TlMEPgEFlBI/AAAAAAAACF0/_YofadZw-jA/s200/arabica+coffee+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Colombia and other high-quality coffee producers are expecting their largest harvest of beans in three years, a shift that could bring prices off their recent highs.<br /> <br /> Unless weather damages their crops, Colombia, Mexico, Peru and all Central American countries except for El Salvador are expecting bigger harvests, according to a survey of their national coffee organizations. <br /> <br /> Combined, output from the countries is estimated to be up at least 2% to 26.35 million 60-kilogram bags in the season beginning Oct. 1.<br /> <br /> The area stretching from central Mexico to southern Peru contains the world's main production of mild, washed arabica beans, which have long fetched a premium to other types of coffee beans because of their sought-after flavor and intense washing process.<br /> <br /> Bad weather and old, low-yielding coffee plants have been causing a shortage of the beans since 2008.<br /> <br /> The shortage has driven coffee futures on the IntercontinentalExchange about 95% higher over the past three years. <br /> <br /> This year, futures surged above $3 a pound, a 14-year high.<br /> <br /> "If arabica production can rebound a little, especially in Colombia, that will definitely put some pressure on the New York terminal market," said commodities analyst Keith Flury of Rabobank Group.<br /> <br /> The contract for September delivery settled up 0.5% at a five-week high of $2.6615 Friday. <br /> <br /> Traders said funds were buying futures to cover short positions, or bets that prices would fall.<br /> <br /> Colombia is expected to recover some of its production in the season beginning Oct. 1, with traders estimating output at nine million bags.<br /> <br /> In another four years, production is likely to return to its pre-2008 average levels of 11 million bags to 12 million bags, according to the Colombian Coffee Federation, or Fedecafe.<br /> <br /> The head of press affairs at Fedecafe, Marth Sanchez, said Colombia is increasing the cultivation of plants resistant to roya, a plant disease that has hurt its production in recent years. <br /> <br /> The country also plans to increase the density of its plantations.<br /> <br /> The next largest producer, Honduras, expects to see a 10% year-on-year rise in production to 4.75 million bags.<br /> <br /> The increase would be on top of a 22% jump in the current season, officials with the Honduran Coffee Institute, or Ihcafe said.<br /> <br /> Coffee officials attribute the increase to improved productivity due to coordinated programs and a steep drop in the smuggling of beans to neighboring Guatemala.<br /> <br /> "We are helping producers increase yields," said Mario Ordoñez, technical manager at Ihcafe.<br /> <br /> Achieving greater yields has been a problem for coffee plantations in the region because many producers abandoned their plantations when prices were lower and are now having to replace or prune their plants.<br /> <br /> In Mexico, where old, unproductive plants are being replaced nationally, better farming practices are expected to spur output past the 4.1 million bags produced in the current season, said the Mexican Association for Coffee Production, or Amecafe.<br /> <br /> El Salvador is the only producer expecting a decline in output.<br /> <br /> The current season has been particularly robust, so the plants won't produce as much in the next season. <br /> <br /> The Salvadoran Coffee Council said production is likely to fall 15% to 1.53 million bags. </div>

Big Harvest May Cool Down Coffee

Colombia and other high-quality coffee producers are expecting their largest harvest of beans in three years, a shift that could bring price...

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Colombia starts the search for a new soccer coach

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-H9h9z6Nx6JY/TlMC1JjrdwI/AAAAAAAACFw/c2DUrpEn30A/s1600/hernan+dario+gomez+el+bolillo+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="133" src="http://3.bp.blogspot.com/-H9h9z6Nx6JY/TlMC1JjrdwI/AAAAAAAACFw/c2DUrpEn30A/s200/hernan+dario+gomez+el+bolillo+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Colombian football officials have started their search for a new national coach after the resignation of Hernan Dario Gomez, who acknowledged he struck a woman in a bar.<br /> <br /> Gomez announced his resignation two weeks ago following the incident, but said late Sunday he would leave despite suggestions of the Colombian Federation because they might not accept his departure.<br /> <br /> The Colombians football association said Monday it had started to search for a replacement ahead of South American qualifying for the World Cup starting in the next few months.<br /> <br /> Several possible replacements have been reported including Gerardo Martino, who resigned recently after leading Paraguay to the 2.010 World Cup.</div>

Colombia starts the search for a new soccer coach

Colombian football officials have started their search for a new national coach after the resignation of Hernan Dario Gomez, who acknowledge...

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Colombia, Panamá to invest $420 mn in power line

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-XStEjIEMezA/TlMCDLUQEPI/AAAAAAAACFs/vaeNyoURu0Q/s1600/colombia+and+panama+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://1.bp.blogspot.com/-XStEjIEMezA/TlMCDLUQEPI/AAAAAAAACFs/vaeNyoURu0Q/s200/colombia+and+panama+good+morning+colombia+news.jpg" width="190" /></a></div><div style="text-align: justify;">Colombia and Panamá will invest $420 million to construct a power line that will start in the northern region of the Andean nation and could eventually connect with all of Central America, the energy and mines minister in Bogotá said Monday.<br /> <br /> The project will be financed in equal parts by the two countries, Carlos Rodado said in an interview with Caracol Radio and Television.<br /> <br /> Rodado said that the accord was formalized last Friday in Panamá City together with Panamanian Finance Minister Alberto Vallarino, the president of the Colombian state utility ISA, Luis Fernando Alarcón, and the Panamanian utility Etesa.<br /> <br /> ISA will contribute 50 percent of the funding for the project, while the Panamanian government will pay Etesa's quota.<br /> <br /> Thus "the financial aspect is concluded and the line now becomes a genuine commitment," Rodado said in explaining that Panama and, in the future, other Central American countries, will be able to receive surplus hydropower from Colombia.<br /> <br /> The 14,000 MW line should go into service by 2014, strung along the Caribbean coast between one country and the other, Rodado said.<br /> <br /> The Colombia-Panamá power line is part of a project that has been under consideration for several years by ISA, the leading transmitter of electricity in Colombia and one that has expanded its activities to several Central and South American countries, including Bolivia, Brazil and Perú.</div>

Colombia, Panamá to invest $420 mn in power line

Colombia and Panamá will invest $420 million to construct a power line that will start in the northern region of the Andean nation and could...

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Colombian Stocks : Banco Davivienda SA, Ecopetrol SA, ETB

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-W_XvicyihKI/TlMBTC0nM2I/AAAAAAAACFo/MgoqF5B9-D8/s1600/davivienda+bank+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="144" src="http://2.bp.blogspot.com/-W_XvicyihKI/TlMBTC0nM2I/AAAAAAAACFo/MgoqF5B9-D8/s200/davivienda+bank+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">The following companies had unusual price changes in Bogota trading. <br /> <br /> Stock symbols are in parentheses and prices are as of 4 p.m. New York time.<br /> <br /> The IGBC Index rose 0.8 percent to 13,050.58, while the Colcap Index gained 0.2 percent to 1,576.18.<br /> <br /> Banco Davivienda SA (PFDAVVND) , Colombia’s third-biggest bank, rose 0.3 percent to 20,780 pesos. <br /> <br /> The bank will offer to sell as much as 500 billion pesos ($281 million) of bonds in the local market on Aug. 24.<br /> <br /> Davivienda will offer 22-month securities linked to the IBR interbank rate and 43-, 85 and 126 month debt linked to inflation. <br /> <br /> The Bogotábased bank had initially planned to sell peso bonds Aug. 10 and delayed the offer because of the turmoil in global markets.<br /> <br /> Ecopetrol SA (ECOPETL CB), Colombia’s largest oil company, rose 1 percent to 3,645 pesos. <br /> <br /> Colombia’s Finance Minister Juan Carlos Echeverry said Aug. 19 the government has no plan to sell its shares this year in Ecopetrol SA (ECOPETL), the state run oil producer.<br /> <br /> The sale is separate from a stock sale by Ecopetrol that ended Aug. 17. <br /> <br /> The company said it will release the results of that sale early this week, according to an Aug. 18 emailed statement.<br /> <br /> Empresa de Telecomunicaciones de Bogota (ETB) SA, the phone company serving Colombia’s capital, rose 0.6 percent to 540 pesos. <br /> <br /> ETB’s deputy director Mario Conteras Amador will replace Fernando Carrizosa as acting head of the company until a permanent replacement is named, acting mayor Clara Lopez told Radio Santa Fe.<br /> <br /> Carrizosa, the president of the company, resigned on Aug. 19, according to a regulatory filing from the company. </div>

Colombian Stocks : Banco Davivienda SA, Ecopetrol SA, ETB

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York...

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Brazil pip Portugal to U-20 World Cup title

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-77vU5Zjv1x8/TlFSq5rX_hI/AAAAAAAACFk/W_FeFTyjJTs/s1600/brasil+portugal+sub+20+final+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="133" src="http://2.bp.blogspot.com/-77vU5Zjv1x8/TlFSq5rX_hI/AAAAAAAACFk/W_FeFTyjJTs/s200/brasil+portugal+sub+20+final+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">"I'm very proud," said Portugal captain Nuno Reis after his side missed out on a third FIFA U-20 World Cup crown in Colombia, losing the final 3-2 to Brazil after a hat-trick from Oscar. <br /> <br /> Portugal were denied a third FIFA U-20 World Cup title in Colombia on Sunday after Oscar fired a hat-trick to earn Brazil a 3-2 comeback win in the final of the 2.011 edition, the SC Internacional midfielder completing his treble with nine minutes remaining in extra time.<br /> <br /> Oscar had originally put Brazil ahead after five minutes, but 1.989 and 1.991 winners Portugal responded soon after and went ahead through Nélson Oliveira just before the hour. <br /> <br /> It was not enough for victory, however, as Oscar made Brazilian pressure tell with 12 minutes remaining before delivering the final blow to win his side the trophy.<br /> <br /> Having reached this rematch of the 1991 decider without conceding a goal, Portugal suffered an early setback in Bogota as Oscar's free-kick was deflected into his own net by Sérgio Oliveira. <br /> <br /> Ilídio Vale's side did not take long to respond, though, and it was Alex who levelled the scores, heading in from close range after SL Benfica forward Nélson Oliveira had escaped down the right.<br /> <br /> Brazil threatened to regain the lead almost immediately as Danilo forced Mika into a splendid save, but Portugal held firm and went ahead after Nélson Oliveira broke free once again. With no team-mates joining him, he tried his luck from a tight angle and squeezed a shot beneath Gabriel for his fourth goal of the tournament.<br /> <br /> The Brazil No1 did better to deny Nélson Oliveira a second from a solo effort, while at the other end the South Americans looked to their turn their territorial domination into a goal. <br /> <br /> They finally did just that when Mika parried a shot from substitute Duda and Oscar pounced from close range.<br /> <br /> That took the match into extra time and, with tiredness playing a role for both teams, Portugal missed the chance to nudge back in front when substitute Caetano failed to beat Gabriel in a one on one situation. <br /> <br /> Ultimately it fell to Oscar to have the last word, his cross-shot from the right sailing over Mika to end Portuguese hopes.<br /> <br /> "I have to congratulate my players as we've had an excellent World Cup," said Portugal coach Vale afterwards. <br /> <br /> "We weren't the favourites [in the final]. Physical condition was the key to the match in the end, as I had three players who were very tired. Brazil were good winners. <br /> <br /> We had chances to end the game but couldn't score. <br /> <br /> This World Cup has revealed the talents of Mika, Danilo and Nélson Oliveira, proving that there's talent in Portugal for the future."<br /> <br /> Portugal captain Nuno Reis added : "We wanted to become champions. It was a unique day in our lives, a dream come true, but that's football. <br /> <br /> I want to congratulate Brazil but also my own team. I'm very proud.<br /> <br /> " There was some consolation for the runners-up with Mika winning the Golden Glove as best goalkeeper, while Nélson Oliveira finished behind Brazil's Henrique in the Golden Ball vote for best player. In the match for third place, Mexico defeated France 3-1.<br /> <br /> Turkey will stage the next finals in 2.013, for which the 2.011/12 European U19 Championship in Estonia will act as qualifier.</div><br /> <iframe width="300" height="300" src="http://www.youtube.com/embed/XH6efWW8YS0" frameborder="0" allowfullscreen></iframe><br />

Brazil pip Portugal to U-20 World Cup title

"I'm very proud," said Portugal captain Nuno Reis after his side missed out on a third FIFA U-20 World Cup crown in Colombia, ...

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Blatter says Colombia can host World Cup in 2.026

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-Zmt8y3ORfMI/TlBRRC1pbQI/AAAAAAAACE4/ABEZ1E47wFA/s1600/Joseph+Blatter+fifa+good+morning+colombia+news.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="http://1.bp.blogspot.com/-Zmt8y3ORfMI/TlBRRC1pbQI/AAAAAAAACE4/ABEZ1E47wFA/s200/Joseph+Blatter+fifa+good+morning+colombia+news.gif" width="200" /></a></div><div style="text-align: justify;">FIFA president Joseph Blatter said on Friday that Colombia could be capable of holding the 2.026 World Cup finals after successfully hosting the under 20 event, which ends Saturday with the final game between Brazil and Portugal.<br /> <br /> "Colombia organized the U20 World Cup with a high level and the best thing is that we can say to the organization, to government and its population that Colombia is prepared to host a World Cup, but should wait until 2.026," said Blatter in a press conference.<br /> <br /> Blatter told reporters that the organization of the event was "excellent" and the 23 participating teams were satisfied.<br /> <br /> Colombia had run for the 2.014 World Cup, which was awarded to Brazil.</div>

Blatter says Colombia can host World Cup in 2.026

FIFA president Joseph Blatter said on Friday that Colombia could be capable of holding the 2.026 World Cup finals after successfully hosting...

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Mexico defeats France 3-1 for third place

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-0nTAQmNz9v4/TlBQdNeVN2I/AAAAAAAACE0/QH6M2kZwAb4/s1600/france+1+mexico+3+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="145" src="http://3.bp.blogspot.com/-0nTAQmNz9v4/TlBQdNeVN2I/AAAAAAAACE0/QH6M2kZwAb4/s200/france+1+mexico+3+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Mexico rallied to defeat France 3-1 on Saturday and take third place in the Under-20 World Cup.<br /> <br /> Ulises Davila, Jorge Enriquez and Edson Rivera scored unanswered goals after Alexandre Lacazette had put France ahead with an 8th minute header.<br /> <br /> The third place finish was Mexico's best ever in the tournament and adds to an impressive few months for its national teams. Mexico's senior team defeated the United States in the final of the regional Gold Cup tournament in June, and Mexico won the Under-17 World Cup title in July, defeating Uruguay in the final.<br /> <br /> The fourth place finish was also the best for France in the event.</div>

Mexico defeats France 3-1 for third place

Mexico rallied to defeat France 3-1 on Saturday and take third place in the Under-20 World Cup. Ulises Davila, Jorge Enriquez and Edson Ri...

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Transfer wrap : Falcao´s Madrid move, QPR´s Parker bid rebuffed

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-cxkQ764RyIA/Tk7j7sB-RqI/AAAAAAAACEw/w871Yz2rUFM/s1600/Radamel+Falcao+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="111" src="http://1.bp.blogspot.com/-cxkQ764RyIA/Tk7j7sB-RqI/AAAAAAAACEw/w871Yz2rUFM/s200/Radamel+Falcao+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">La Liga outfit Atletico Madrid have filled the void left by Sergio Aguero with the signing of Colombia striker Radamel Falcao from Porto.<br /> <br /> In a Portuguese record transfer deal  worth 40 million euros the Spanish club secured the prolific forward to replace Aguero, who joined Manchester City in July.<br /> <br /> Falcao's move comes after a breakout season in which he scored an incedible 34 goals in all competitions, as Porto claimed the Liga Sagres title, the Europa League and the Portuguese Cup.<br /> <br /> In the English Premier League, forward Joel Campbell has been confirmed as an Arsenal player, with all formal agreements and processes pertaining to the transfer now complete.<br /> <br /> Campbell, 19, joins the Gunners for a reported one million pounds fresh from representing Costa Rica at the 2.011 Under 20 World Cup and Copa America tournaments.<br /> <br /> West Bromwich Albion continue their pursuit of injury-ravaged Owen Hargreaves, with the former England international and Manchester United midfielder undergoing a medical at the Premier League club.<br /> <br /> The transfer could prove to be a risk if it goes ahead but manager Roy Hodgson has stressed the player is fit enough to revive his career.<br /> <br /> Sunderland, meanwhile, are keen on Freiburg's 13 million pound forward Papiss Cisse, with concerns over the depth of manager Steve Bruce's attacking options.<br /> <br /> Bruce has only two experienced strikers to call on in Asamoah Gyan and Frazier Campbell - the latter of who is injured but will have to act swiftly if he is to beat off rivals Fulham, Tottenham and Blackburn, who are also said to have expressed interest in the Senegalese striker.<br /> <br /> Rovers are in the market for several signings, with manager Steve Kean stating they have already 'agreed terms with a couple of players'.<br /> <br /> Reports in The Daily Mail suggest the pair could be Vedad Ibesivic of Bundesliga outfit Hoffenheim with a bid of five million pounds rumoured to be on the table and Sporting Lisbon striker Simon Vukcevic, with Blackburn hoping to finalise a deal for both in the next couple of days.<br /> <br /> Premier League newcomer QPR's endeavour to splash the cash under new Malaysian owner Tony Fernandes has hit a stumbling block, with West Ham chairman David Sullivan branding their four million-pound bid for England midfielder Scott Parker a 'publicity stunt'.<br /> <br /> Rangers are in the market for the 31-year-old Hammers captain, with Parker seeking a return to a Premier League club.<br /> <br /> But Sullivan believes the west London club's evaluation to be way off.<br /> <br /> "It's ridiculously low. We see it as a cheap publicity stunt," he said.<br /> <br /> Finally, Bundesliga club Bayer Leverkusen have secured the services of Michael Ortega on a one year loan deal from Mexican side Atlas, after the midfielder impressed for Colombia at the Under 20 World Cup.</div>

Transfer wrap : Falcao´s Madrid move, QPR´s Parker bid rebuffed

La Liga outfit Atletico Madrid have filled the void left by Sergio Aguero with the signing of Colombia striker Radamel Falcao from Porto. ...

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Colombia Retail Sales, Industrial Production Rise In June

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-alZrW4riPTg/Tk7g54YY04I/AAAAAAAACEo/f1YvbH0Bxl4/s1600/retail+sales+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="105" src="http://2.bp.blogspot.com/-alZrW4riPTg/Tk7g54YY04I/AAAAAAAACEo/f1YvbH0Bxl4/s200/retail+sales+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Retail sales in Colombia climbed 11.9% in June from a year earlier while industrial activity rose 2.2%, according to government data released Friday.<br /> <br /> The government's statistics agency, known as DANE, said in a statement that among the sectors that pushed up the overall retail sales number was car and motorcycle sales, which jumped 27% in June. <br /> <br /> The only sector to show a decline was books, paper products, magazines and newspapers, which fell 6.4%.<br /> <br /> A stronger local currency has made many big-ticket, imported items more affordable for Colombians, leading to a sharp increase in consumer spending.<br /> <br /> The country's central bank raised interest rates for six straight months through July in an effort to control spending. <br /> <br /> But at its August meeting earlier Friday, the bank decided to leave rates unchanged, fearing a global economic slowdown might be around the corner. </div>

Colombia Retail Sales, Industrial Production Rise In June

Retail sales in Colombia climbed 11.9% in June from a year earlier while industrial activity rose 2.2%, according to government data release...

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Thousands in Bogotá Break Two Fitness Guinness World Records

<div class="separator" style="clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/-7JRBkrnZsm4/Tk7fBkLC_AI/AAAAAAAACEg/CHqkVEq2hN0/s1600/guinness+record+bogota+aerobics+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="http://2.bp.blogspot.com/-7JRBkrnZsm4/Tk7fBkLC_AI/AAAAAAAACEg/CHqkVEq2hN0/s200/guinness+record+bogota+aerobics+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Thousands of people in Colombia’s capital shattered records previously held by Budapest for Kickboxing, and Manila for Aerobics!<br /> <br /> These Colombians gathered in the capital’s Simón Bolívar Park to participate in the largest fitness event the nation has ever seen. <br /> <br /> From the early hours of the morning entire families and large groups of friends stood in long lines by the park’s entrances to sign the Guinness Records registration forms that now are the official proof Bogotá holds two Fitness Guiness World Records.<br /> <br /> Around 10:20 in the morning, 8,200 citizens of Bogotá punched and jabbed at imaginary opponents, mimicking the professional kick-boxers leading the exercises from the 14 stages set up around the park; sixteen minutes after that number became official, it was announced Bogotá had taken the title from Budapest as the city hosted the largest amount of kick-boxers at one time, a title the Hungarian city held since 2.009, when 2,336 Hungarians kick-boxed for 10 minutes.<br /> <br /> Just two hours later, in the largest ever aerobics session 50,420 Colombians danced and shook and stretched into the history books, breaking the record of most people performing aerobics, formerly held by the Philippines. </div>

Thousands in Bogotá Break Two Fitness Guinness World Records

Thousands of people in Colombia’s capital shattered records previously held by Budapest for Kickboxing, and Manila for Aerobics! These Col...

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Bogotá is cycle city, thanks to the Netherlands

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-1X_UTZndsoU/Tk7Wz0maHmI/AAAAAAAACEc/cjBxQv1uZJk/s1600/ciclovia+colombia+good+morning+colombia.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="138" src="http://4.bp.blogspot.com/-1X_UTZndsoU/Tk7Wz0maHmI/AAAAAAAACEc/cjBxQv1uZJk/s200/ciclovia+colombia+good+morning+colombia.jpg" width="200" /></a></div><div style="text-align: justify;">Cyclists, lots of cyclists, are now able to beat the traffic in Colombia’s capital, Bogotà. <br /> <br /> A network of bicycle paths has transformed Bogotà into Latin America’s cycle city thanks in part to Dutch expertise.<br /> <br /> It’s true that, as far as Colombian people are concerned, bikes lack the allure of luxury cars and are rather looked down upon by the more well-to-do. <br /> <br /> Nevertheless, cycling is definitely the cheapest and quickest way to get around. Bogotà now boasts 322 kilometres of cycle paths which are used by about 110,000 people every day.<br /> <br /> <b>Family outing</b><br /> <br /> On average, a resident of this huge city spends 132 minutes making the daily return car journey to work or school. Using public transport for the journey costs an average of three euros per day, around 15 percent of an average daily income.<br /> <br /> Bogotà is situated on a plateau in the Andes, 2,600 metres above sea level. It now has the largest network of cycle paths in the whole of Latin America. <br /> <br /> And, on Sundays and public holidays, the city’s broad avenues become enormous cycle paths, with whole families on bikes over a million people join in.<br /> <br /> <b>Race against the clock</b><br /> <br /> Figures from the latest mobility survey carried out by Colombia’s DANE national statistics office tally with the result of the recent ‘Modes of Transport Race’ organised by Bogotà’s University of the Andes.<br /> <br /> The race, over a distance of 9.2 kilometres right through the city, was won by Professor Jorge Sefair, on his bike. <br /> <br /> He covered the distance in just 25 minutes. Using a car, it took 35 minutes. A special bus did it in 40 minutes. <br /> <br /> With the Transmilenio public transport company, a whole hour was needed. <br /> <br /> “The theory was again confirmed: the bicycle is pollution-free, quick and keeps you fit,” says Professor Sefair.<br /> <br /> <b>Dutch bikers</b><br /> <br /> The Dutch embassy in Bogotà has made a direct contribution to the construction of cycle paths, notably by making available Dutch expertise with regards to their planning and layout. <br /> <br /> During the embassy’s Queen’s Day celebrations last April, guests were asked to cycle the length of one of Bogotà’s most important cycle paths wearing an orange shirt (orange is the Dutch national colour  the royal family is the House of Orange).<br /> <br /> Other cities in South and Central America are also constructing bicycle infrastructures based on the authoritative ‘Manual de Ciclo Ciudades’ (Cycle Cities Manual) produced by the Netherlands.<br /> <br /> <b>Cars are not welcome</b><br /> <br /> Every Sunday, Bogotà’s major roads (about 121 kilometres) are transformed into cycle paths. <br /> <br /> They are taken over by cyclists, rollerbladers, walkers and even wheelchairs and prams, an endless crowd which spreads out into every corner of the city. <br /> <br /> What began three decades ago as a cautious experiment, is now an enormous car-free event which no one would dare to stop.<br /> <br /> The cycle paths are supported by a network of a thousand volunteers, a couple of hundred police officers, a force of ‘security guards’, soft-drink vendors and service points for repairs and maintenance. <br /> <br /> Special platforms are set up along the cycle paths where public lessons in sports and aerobics are given.</div>

Bogotá is cycle city, thanks to the Netherlands

Cyclists, lots of cyclists, are now able to beat the traffic in Colombia’s capital, Bogotà. A network of bicycle paths has transformed Bog...

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Miranda Gold and Red Eagle Sign Second Colombia Agreement

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-WlYXAi75yqQ/Tk2de-bm8kI/AAAAAAAACEM/VBNws1gJg-g/s1600/miranda+gold+good+morning+colombia+news.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="100" src="http://1.bp.blogspot.com/-WlYXAi75yqQ/Tk2de-bm8kI/AAAAAAAACEM/VBNws1gJg-g/s200/miranda+gold+good+morning+colombia+news.png" width="200" /></a></div><div style="text-align: justify;">Miranda Gold Corp. (MAD - TSX Venture)("Miranda") has assigned 70 of the 100 issued shares of its wholly owned subsidiary Miranda Gold Colombia IV Ltd. ("MAD IV") to Red Eagle Mining Corporation ("Red Eagle"). <br /> <br /> The Colombian branch of MAD IV is the holder of option to purchase agreements for a group of properties in Colombia collectively called the Cajamarca project. </div><div style="text-align: justify;"> </div><div style="text-align: justify;">Red Eagle and Miranda have a similar arrangement in place for Miranda's Pavo Real project in Colombia.<br /> <br /> To maintain the option agreements, payments and issuance of Miranda shares increase incrementally each December 30 anniversary year of each individual option agreement with ExpoGold Colombia S.A. Red Eagle will be responsible for paying the cash component of the ExpoGold option agreements and for each share of Miranda issued or to be issued to ExpoGold pursuant to these option agreements Red Eagle will issue one share of Red Eagle to Miranda.<br /> <br /> Miranda and Red Eagle executed a shareholder agreement ("SA") to govern the funding and activities of MAD IV. <br /> <br /> The 70 shares of MAD IV transferred to Red Eagle are subject to forfeiture or transfer provisions back to Miranda should Red Eagle fail to spend US$4,000,000 over the first five years of the SA. <br /> <br /> Upon Red Eagle's sole funding to an aggregate US$4,000,000 then 51 of the 70 shares will not be subject to forfeiture or transfer provisions back to Miranda. <br /> <br /> These funds will be used to fund exploration programs at the Cajamarca project. Within 180 days of earning a 51% vested interest, Red Eagle can elect to further sole fund MAD IV at a minimum of US$1,000,000 per year and either complete a bankable feasibility study on any of the MAD IV projects within eight years or contribute a minimum of US$10,000,000 within 10 years. <br /> <br /> Upon completion of the funding the remaining 19 of the 70 shares will not be subject to forfeiture or transfer provisions back to Miranda. <br /> <br /> Red Eagle is required to reimburse Miranda the costs incurred by MAD IV related to any of the Red Eagle Property Group project's concession fees and exploration work authorized by Red Eagle prior to the effective date of the SPA and SA agreements.<br /> <br /> Ian Slater is a director of Miranda and Ken Cunningham is a director of Red Eagle. <br /> <br /> This non-arms length transaction is subject to TSX Venture Exchange acceptance.<br /> <br /> <b>Cajamarca</b><br /> <br /> The Cajamarca project covers a total of 45.1 sq. mi. (116.9 sq. km.) and lies within the department of Tolima and Quindio.<br /> <br /> The geologic setting at Cajamarca consists of meta-sediments that have been intruded by Tertiary and Cretaceous-age stocks. Locally, the igneous stocks are both hydrothermally and tectonically altered. <br /> <br /> AngloGold Ashanti's La Colosa gold porphyry discovery (13 million ounces) lies 6.2 mi (10 km) to the southeast of the main project area. <br /> <br /> Southwest-trending structures thought to be important to the mineralization at La Colosa are projected to pass through portions of the Cajamarca project.<br /> <br /> Exploration work has consisted of a regional stream sediment program, a detailed geophysical airborne magnetic survey and a rock chip sampling program. <br /> <br /> Public domain data shows historic gold workings in and around the application areas.<br /> <br /> The high-resolution airborne magnetic survey was flown on 50 m line spacing with 500 m tie lines and is currently under review and interpretation. <br /> <br /> Preliminary results show a distinct north-east structure pattern with several interpreted buried intrusions following the same northeast trend. <br /> <br /> Rock chip samples average 0.006 oz Au/t (0.2 g Au/t) and range from less than detectable to 0.0141 oz Au/t (0.44 g Au/t). <br /> <br /> Preliminary mapping has revealed an unmapped multiphase intrusive breccia with very fine-grained disseminated pyrite. <br /> <br /> Anomalous gold values have been returned from both stream sediment and stream pan concentrate sampling on numerous drainages within the Cajamarca project areas. <br /> <br /> Detailed follow-up sampling is being conducted.<br /> <br /> All technical data disclosed in this press release have been reviewed by Vice President of Exploration, Joe Hebert, a Qualified Person as defined by National Instrument 43-101.<br /> <br /> <b>Corporate Profile</b><br /> <br /> Miranda Gold Corp. is a gold exploration company active in Nevada, Alaska and Colombia and whose emphasis is on generating gold exploration projects with world-class discovery potential. <br /> <br /> Miranda performs its own grass-roots exploration and then employs a joint venture business model on its projects in order to maximize exposure to discovery while minimizing exploration risk. <br /> <br /> Miranda has ongoing partnerships with Agnico-Eagle (USA) Inc., Montezuma Mines Inc., Navaho Gold Ltd., NuLegacy Gold Corporation, Ramelius Resources Ltd., and Red Eagle Mining Corporation. </div>

Miranda Gold and Red Eagle Sign Second Colombia Agreement

Miranda Gold Corp. (MAD - TSX Venture)("Miranda") has assigned 70 of the 100 issued shares of its wholly owned subsidiary Miranda ...

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Colombia's President bans exploration in historic coffee growing region

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-jcOU4d2EJJQ/Tk2bf997ycI/AAAAAAAACEI/RWYG3VMtkCs/s1600/Colombia%2527s+President+coffee+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://1.bp.blogspot.com/-jcOU4d2EJJQ/Tk2bf997ycI/AAAAAAAACEI/RWYG3VMtkCs/s200/Colombia%2527s+President+coffee+good+morning+colombia+news.jpg" width="150" /></a></div><div style="text-align: justify;">A United Nations World Heritage designation of the Coffee Cultural Landscape of Colombia prompted Colombia's President to ban mining exploration in a region famous for coffee plantations, architecture and tourism.<br /> <br /> Colombia's President Juan Manuel Santos says his administration has prohibited mining in 47 coffee producing municipalities in the departments of Valle del Cauca, Caldas, Quindío, Risaralda and Valle.<br /> <br /> However, the mining certification ban mainly impacts the Department of Quindío, where a considerable portion of the territory is home to mineral exploration and some mining claim titles have been allocated.<br /> <br /> Santos' statements, recently reported by Colombian news media, were made in response to a June 25, 2011, announcement by UNESCO's World Heritage Committee that it had named the Coffee Cultural Landscape of Colombia (PCC) to the World Heritage List of protected sites.<br /> <br /> The World Heritage Committee called the Coffee Cultural Land of Colombia "an exceptional example of a sustainable and productive cultural landscape that is unique and representative of a tradition that is a strong symbol for coffee growing areas worldwide-encompasses six farming landscapes, which include 18 urban centres on the foothills of the western and central ranges of the Cordillera de los Andes in the west of the country."<br /> <br /> "The urban areas, mainly situated on the relatively flat tops of hills above sloping coffee fields, are characterized by the architecture of the Antioquian colonization with Spanish influence," said the committee. <br /> <br /> "Building materials were, and remain in some areas, cob and pleated cane for the walls with clay tiles for the roofs."<br /> <br /> The Unesco recommendation was requested by tourism promoters who want to increase tourism to coffee growing regions. <br /> <br /> They contend mining and coffee cultivation are not compatible and should not jointly occur in the same areas.<br /> <br /> The Department of Quindío also hosts such tourist attractions as the National Coffee Party, the Colombian National Coffee Park, the National Festival of Kites, and the La Macarena bullfights. <br /> <br /> The region is also home to a number of endangered, threatened or critically endangered species.<br /> <br /> The Governor of Quindío Julio Cesar Lopez asked Santos for a clear regulation that controls exploration and mining projects in the territory. <br /> <br /> The President responded, "we will permit responsible mining in areas where there is no threat to destroy important cultural heritage and other areas that we deem important."<br /> <br /> The Santos Administration hopes to have a sustainable management plan to manage the Coffee Cultural Landscape as a cultural heritage site ready by December 31.<br /> <br /> Among the Canadian exploration companies with exploration programs in the departments of Tolimo and Quindio are AuRo Resources' White Gold Properties, and Miranda Gold's Cajamarca project.</div>

Colombia's President bans exploration in historic coffee growing region

A United Nations World Heritage designation of the Coffee Cultural Landscape of Colombia prompted Colombia's President to ban mining exp...

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Colombian Stocks : Ecopetrol, Rubiales, Canacol, Bancolombia

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-8womDs-_nVE/Tk2aen0jRxI/AAAAAAAACEE/eJHLTvlcCpQ/s1600/ecopetrol+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://4.bp.blogspot.com/-8womDs-_nVE/Tk2aen0jRxI/AAAAAAAACEE/eJHLTvlcCpQ/s200/ecopetrol+good+morning+colombia+news.jpg" width="174" /></a></div><div style="text-align: justify;">The following companies had unusual price changes in Bogota trading. <br /> <br /> Stock symbols are in parentheses and prices are as of 4 p.m. New York time.<br /> <br /> The IGBC Index fell 3.2 percent to 13,049.39, while the Colcap Index dropped 2.6 percent to 1,581.30.<br /> <br /> Oil companies fell as crude declined the most in more than a week amid concern that economic growth in the U.S. and China is slowing.<br /> <br /> Ecopetrol SA (ECOPETL CB), Colombia's largest oil company, fell 3 percent, the biggest drop since November 2010, to 3,595 pesos. <br /> <br /> Ecopetrol has fallen short of its share sale target, saying yesterday it had received orders for 80 percent of the $1.4 billion in stock it is seeking to sell in Colombia's largest planned offering in four years.<br /> <br /> Pacific Rubiales Energy Corp. (PREC CB), the Toronto based oil producer that operates fields in Colombia, fell 5.2 percent to 43,700 pesos.<br /> <br /> Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company with fields in South America, fell 3.3 percent to 1,610 pesos.<br /> <br /> Bancolombia SA (PFBCOLO CB), Colombia's biggest bank, fell 4.9 percent to 27,560 pesos. <br /> <br /> Bancolombia's American depositary receipts were lowered to "underweight" from "neutral" at JPMorgan by equity analyst Saul Martinez. <br /> <br /> The 12-month target price is $66 per share.<br /> <br /> Grupo Aval Acciones y Valores (AVAL CB), Colombia's biggest financial holding company, fell 4.6 percent to 1,175 pesos, the lowest since September 2.010.</div>

Colombian Stocks : Ecopetrol, Rubiales, Canacol, Bancolombia

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York...

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Brazil vs. Portugal for U-20 World Cup

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-vvn4mvySlEY/Tk2ZuY7rHhI/AAAAAAAACEA/nzWvMwIuP1A/s1600/Brazil+vs.+Portugal+for+U-20+World+Cup+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="166" src="http://4.bp.blogspot.com/-vvn4mvySlEY/Tk2ZuY7rHhI/AAAAAAAACEA/nzWvMwIuP1A/s200/Brazil+vs.+Portugal+for+U-20+World+Cup+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">The semifinals in the FIFA U-20 World Cup took place August 17 in Pereira and Medellin Colombia, and and it's Brazil vs. Portugal for the final.<br /> <br /> <b>Brazil sends off Mexico</b><br /> <br /> Riding an emotional high after soundly beating the host nation in the quarterfinals wasn't enough to get Mexico past a talented Brazil side.<br /> <br /> The South Americans will be looking for their fifth U20 title, after falling just short last time. <br /> <br /> In the 2.009 edition Ghana surprised Brazil in Egypt and won it all.<br /> <br /> There wasn't any scoring for most of the game, but that didn't mean a lack of action. <br /> <br /> The ebb and flow of the contest slightly favored Brazil early with more chances, but for the most part was fairly even. <br /> <br /> The second half was uneventful, until a 69th minute substitution brought Dudu into the game for Brazil. <br /> <br /> His cross to Henrique shortly after resulted in a header that went wide, but it laid the groundwork for the offensive surge.<br /> <br /> In the 80th, Henrique tried another header that went to the back of the net for the first goal. <br /> <br /> The score wouldn't remain 1-0 for long, as he got his second in the 84th off a ball from Dudu. <br /> <br /> His brace sealed the fate of Mexico.<br /> <br /> Portugal silences France<br /> <br /> The final will be a rematch of the 1.991 event, when Portugal defeated their former colony on penalties to win the U-20 World Cup. <br /> <br /> To reach the final this time, Portugal went through the field of the tournament without conceding a goal. <br /> <br /> The stout defense which had taken them to the semifinals was enough to squelch France as well, with the match ending in a 2-0 Portugal victory.<br /> <br /> France was the better side on possession and shots made, but fell short when it came to finding the back of the net. <br /> <br /> A header from Danilo opened up the scoring for Portugal in just the ninth minute, and a shot off a penalty in the 40th gave Portugal the 2-0 margin before intermission, which held until the final whistle.<br /> <br /> Classic strong offense meets sturdy defense for the final<br /> <br /> Brazil is some observers minds won the 2011 U20 World Cup when they defeated Spain in the quarterfinals. <br /> <br /> People with that view see the rest of the tournament as merely putting a stamp on their assessment. Portugal, of course, will have none of that talk.<br /> <br /> With his brace in the semifinals, Henrique is tied for the lead of goals scored in the World Cup with five. <br /> <br /> Brazil leads all participants with 15. <br /> <br /> That scoring power against the side not allowing a goal yet is a recipe for some great soccer when the final takes place in Bogota August 20.</div>

Brazil vs. Portugal for U-20 World Cup

The semifinals in the FIFA U-20 World Cup took place August 17 in Pereira and Medellin Colombia, and and it's Brazil vs. Portugal for th...

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Canada-Colombia trade pact begins as U.S. deals stall

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-kn0fL5L_tiQ/Tk2YwvdLheI/AAAAAAAACD8/AVgpnbL3Urg/s1600/canada+colombia+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="160" src="http://4.bp.blogspot.com/-kn0fL5L_tiQ/Tk2YwvdLheI/AAAAAAAACD8/AVgpnbL3Urg/s200/canada+colombia+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">As several free trade pacts negotiated under President George W. Bush continue to collect dust, other countries are moving ahead with their own trade deals, a scenario many say puts U.S. industries at a competitive disadvantage and risks American jobs.<br /> <br /> Colombia and Canada began a major trade pact this week that allows Canada to export wheat, among other items, tariff-free. <br /> <br /> The deal took effect almost five years after the Bush administration signed its own free trade agreement with the South American country.<br /> <br /> But the U.S. deal with Colombia, as well as similar trade pacts the Bush administration inked with Panama and South Korea in 2007, have yet to be ratified by Congress stalled first by Democratic opposition regarding labor issues, and later as President Obama reworked the deals.<br /> <br /> “Today’s entry into force of the trade agreement between Canada and Colombia means that  for no good reason U.S. workers and exporters are now disadvantaged in Colombia, a key export market for American-made goods and services,” Rep. Dave Camp, Michigan Republican and House Ways and Means Chairman, said Monday, the day pact was took effect.<br /> <br /> Colombia, South Korea and Panama, meanwhile, have implemented numerous trade agreements with countries other than the U.S., including a significant deal between South Korea and the European Union that went into effect July 1.<br /> <br /> The EU also signed a trade agreement last year with Colombia and Peru.<br /> <br /> China,one of the U.S. most vital trading partners has sought trade inroads with Latin America as well, signing a free trade deal with Peru in 2009 and implementing another with Costa Rica this month.<br /> <br /> Business leaders also have complained the United States is losing crucial market share to China, Canada and others without the Colombia, South Korea and Panama deals.<br /> <br /> A 2.009 study by the U.S. Chamber of Commerce warned the delay of the three pending trade deals has put at least 380,000 American jobs at risk.<br /> <br /> Failure to implement the U.S. free-trade agreements, while other trading partners go forward with theirs, also would lead to a decline of $40.2 billion in U.S. exports of goods and services, the report said.<br /> <br /> “These trade agreements are one of the best ways to create jobs in America now,” chamber President and Chief Executive Thomas J. Donohue said earlier this month.<br /> <br /> Mr. Obama in December finalized an updated version of the landmark free-trade pact with South Korea that promised to boost the domestic automotive industry and support tens of thousands of American jobs. <br /> <br /> The deal would be the largest since the North American Free Trade Agreement with Canada and Mexico in 1.994.<br /> <br /> Mr. Obama had held out for almost two years on the Korean pact in an effort to strengthen the deal in the favor of U.S. auto industry.<br /> <br /> The administration in April also announced it was moving forward with its deal with Colombia after it secured labor concessions from that country. <br /> <br /> But the president has held off sending the trade deals to Congress for ratification over a funding dispute for the Trade Adjustment Assistance program, a union backed initiative that compensates workers affected by increased imports or shifts in production outside the U.S.<br /> <br /> The Obama administration initially wanted to attach a TAA funding provision to the South Korean trade pact a move opposed by Republicans.</div>

Canada-Colombia trade pact begins as U.S. deals stall

As several free trade pacts negotiated under President George W. Bush continue to collect dust, other countries are moving ahead with their ...

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Leaders of Colombia's landless in new peril

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-RPCW4MXE4Ro/TkmyDmOb3CI/AAAAAAAACDs/NY2b0KXwurI/s1600/Juan+Manuel+Santos+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://3.bp.blogspot.com/-RPCW4MXE4Ro/TkmyDmOb3CI/AAAAAAAACDs/NY2b0KXwurI/s200/Juan+Manuel+Santos+good+morning+colombia+news.jpg" width="178" /></a></div><div style="text-align: justify;">The cornerstone of President Juan Manuel Santos' year-old government is a bold plan to compensate an estimated 4 million victims of Colombia's long running civil conflict.<br /> <br /> The so called victims law, enacted in June, is an ambitious proposition : nothing similar has ever been attempted on any continent.<br /> <br /> Colombia remains at war, and determining who qualifies for reparations will often be tricky enough. <br /> <br /> The cost is also high, an estimated $20 billion over a decade.<br /> <br /> The biggest challenge : leaders of dispossessed peasants, emboldened by the law to try to win back stolen land, keep getting killed, and the state appears hard pressed to halt the slayings.<br /> <br /> "I don't want to be a pessimist but I think in two years the violence is going to grow," said Yamile Salinas, a land expert with the National Commission for Restitution and Reparation.<br /> <br /> Colombia's is a dirty war in which most victims are civilians, and land tenancy has been at the heart of the nation's bloodletting since independence two centuries ago.<br /> <br /> Shadowy far-right militias known as paramilitaries have done most of the killing. <br /> <br /> First formed in the 1980s to defend ranchers and drug traffickers against rebel extortion, they evolved into criminal bands that often operated in concert with the military. <br /> <br /> Shakedown artists and drug runners, many now work as hired guns for holders of stolen land.<br /> <br /> The Victims Law, in addition to providing cash to survivors of more than 50,000 slain, aims to return at least 7,700 square miles (2 million hectares) to 430,000 families from whom it was wrested over the past two decades. <br /> <br /> Some experts estimate that four times that amount was stolen an area slightly bigger than West Virginia and nearly the size of Austria.<br /> <br /> The dispossessed are mostly poor peasants, and their lingering dislocation is why Colombia ranks second after Sudan in internally displaced people, with more than 3 million.<br /> <br /> Since Santos took office, more than a dozen leaders of landless peasants have been slain, says the CODHES human rights group. <br /> <br /> At least 50 such activists have been killed since 2002, the same year Alvaro Uribe was elected president. <br /> <br /> Uribe waged all out war on leftist rebels with U.S. aid and made a deal with paramilitary leaders, promising reduced jail sentences in return for their laying down arms.<br /> <br /> Dozens of lawmakers and regional politicians who backed Uribe were later convicted of criminal conspiracy, or worse, for allying themselves with the militias.<br /> <br /> As defense minister from 2006-2009, Santos was tough on rebels and thus popular in provincial Colombia. <br /> <br /> But with the Victims Law, he's squaring off against shadowy provincial powerbrokers.<br /> <br /> He blames the killings of activists on "a few who want to keep their ill-gotten land."<br /> <br /> "We're not going to let this law fail," the president told The Associated Press in an interview Saturday.<br /> <br /> Santos told the AP he couldn't estimate how much money his government will be able to dedicate to implementing it. <br /> <br /> He is seeking help from the U.S. and European Union but, given tough fiscal times, knows he can't expect much.<br /> <br /> Asked how he plans to protect activists, Santos said the government is "creating elite groups that will be dedicated to this process."<br /> <br /> From its start, the reparation campaign has been bloodstained.<br /> <br /> After the first ceremonial land handover on Sept. 21, one recipient was bludgeoned to death as he walked home in the turbulent Uraba banana growing region on the Caribbean coast. <br /> <br /> The killers left four bullets beside Hernando Perez's body as a warning to his comrades.<br /> <br /> The latest killing occurred in San Onofre, a northern town that straddles the Caribbean and the Montes de Maria mountains. <br /> <br /> On June 30, a gunman shot and killed a town councilman who had worked closely with peasants fighting to regain usurped land.<br /> <br /> Other activists are worried they could be next.</div>

Leaders of Colombia's landless in new peril

The cornerstone of President Juan Manuel Santos' year-old government is a bold plan to compensate an estimated 4 million victims of Colo...

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Trade Between Venezuela And Colombia Slowly Reviving After Spat

<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-yJ_z7W4uTmc/TkmwuXBt61I/AAAAAAAACDo/QhPulqrTMZs/s1600/venezuela+and+colombia+trade+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="160" src="http://3.bp.blogspot.com/-yJ_z7W4uTmc/TkmwuXBt61I/AAAAAAAACDo/QhPulqrTMZs/s200/venezuela+and+colombia+trade+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">Trade between Venezuela and Colombia continues to slowly recover after a diplomatic thaw between the previously bickering neighbors but lingering uncertainty over lapsed preferential tariffs prevents a full return to pre-conflict levels, according to Cavecol, a bilateral trade group.<br /> <br /> Trade between the nations totaled $1.04 billion in the first six months of 2011, a 16% jump when compared to the same period a year earlier, according to figures gathered by the Caracas-based Cavecol. <br /> <br /> On Friday, Colombian Trade Minister Sergio Diaz-Granados said that Venezuela has paid $828 million in the past 12 months of outstanding debts to Colombian airlines and exporters.<br /> <br /> But the bilateral trade posted in the first half of this year is still less than half the totals posted during the same period in 2.008 and 2.009, before relations between the nations began to unravel. <br /> <br /> In the January through June period in 2.008, trade between Venezuela and Colombia totaled $3.2 billion, and in 2009, $2.8 billion, according to Cavecol data.<br /> <br /> "There was a major drop in commerce but it didn't happened overnight and now the recovery is happening at that same speed," said Luis Alberto Russian, executive president of Cavecol.<br /> <br /> Venezuela began racking up the debts with Colombian firms during a drawn-out diplomatic and trade dispute between the neighboring countries that began in mid-2.009 and was resolved in late 2.010. <br /> <br /> Venezuelan President Hugo Chavez eventually broke off diplomatic relations in 2.010 after then-Colombian President Alvaro Uribe accused Venezuela of sheltering leaders of the Revolutionary Armed Forces of Colombia, or FARC.<br /> <br /> The countries moved to restore severed relations last year with the inauguration of present Colombian leader, Juan Manuel Santos. <br /> <br /> But the political tensions took their toll with Colombia's trade surplus with Venezuela tumbling from $5 billion in 2.008, to $3.5 billion in 2.009 and $1.1 billion in 2010. <br /> <br /> After the U.S., Venezuela has traditionally been the second-most important market for Colombian exporters.<br /> <br /> Bilateral trade has staggered back to life because of "the rebuilding of relationships between the two countries, the improved political climate," Russian said.<br /> <br /> A return to pre-crisis levels, however, will not be possible until Venezuela permanently replaces the accords that were voided when the country exited the regional trade group of the Andean Community of Nations, or CAN, Russian said.<br /> <br /> "Venezuela should return to CAN and make the changes that it wants from within the framework of the group," he said.<br /> <br /> Venezuela finalized its departure from CAN in April with only temporary trade pacts in place with Colombia and Peru, half of the remaining four member countries.<br /> <br /> Chavez said he was withdrawing from the alliance in 2.006 to protest decisions by Colombia and Peru to sign free trade agreements with the U.S., saying the organization was "fatally wounded" by the moves.<br /> <br /> Venezuela's trade preferences within CAN which includes Colombia, Peru, Bolivia and Ecuador remained active for five years, lapsing earlier this year. </div>

Trade Between Venezuela And Colombia Slowly Reviving After Spat

Trade between Venezuela and Colombia continues to slowly recover after a diplomatic thaw between the previously bickering neighbors but ling...

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Camp Says Canada-Colombia Free Trade Puts U.S. at Disadvantage

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-hCY0UZCzma8/TkmvsXDVBWI/AAAAAAAACDk/MQNMKVd-3J0/s1600/Chairman+Dave+Camp+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="108" src="http://1.bp.blogspot.com/-hCY0UZCzma8/TkmvsXDVBWI/AAAAAAAACDk/MQNMKVd-3J0/s200/Chairman+Dave+Camp+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">House Ways and Means Committee Chairman Dave Camp said a free-trade accord between Canada and Colombia that takes effect today puts the U.S. at a disadvantage and underscores the need to pass the nation’s own stalled agreements.<br /> <br /> “I urgently call on the president to send the job-creating trade agreements with Colombia, Panama and South Korea to Congress without further delay,” Camp, a Michigan Republican, said today in a statement.<br /> <br /> The U.S. and Canada are vying for sales in Colombia, South America’s fourth largest economy after Brazil, Venezuela and Argentina. Colombia’s economy will expand 5 percent this year, based on the median forecast of analysts surveyed by Bloomberg.<br /> <br /> U.S. wheat growers may lose $100 million in sales annually should the pending Colombia agreement fail to win approval, according to estimates from U.S. Wheat Associates, the export- market development organization for wheat producers.<br /> <br /> U.S. Senate leaders ended an impasse two weeks ago over the stalled free-trade accords with the three nations. <br /> <br /> They agreed to vote after this month’s recess on benefits for workers who lose their jobs because of overseas competition, and then take up the three pending trade deals.<br /> <br /> President Barack Obama wants the agreements and worker aid passed “as soon as possible, so that American businesses and workers can get the jobs, market access, and more level playing fields we fought for in these deals,” Carol Guthrie, a spokeswoman for the U.S. Trade Representative’s office, said last week.<br /> <br /> <b>Worker Aid Deal</b><br /> <br /> Business groups, including the U.S. Chamber of Commerce, have pressed lawmakers on the trade agreements, citing concern companies will fall behind global competitors.<br /> <br /> A South Korean free-trade agreement with the European Union has been in place since July 1, putting U.S. producers of autos, pharmaceuticals and scientific equipment at a disadvantage in the Asian economy.<br /> <br /> The three U.S. agreements may increase exports by $12 billion a year and boost the struggling U.S. economy, supporters say. <br /> <br /> After Congress agreed to raise the debt ceiling this month, the White House urged action on the trade deals as a means to spur hiring in the U.S. amid 9.1 percent unemployment in July. </div>

Camp Says Canada-Colombia Free Trade Puts U.S. at Disadvantage

House Ways and Means Committee Chairman Dave Camp said a free-trade accord between Canada and Colombia that takes effect today puts the U.S....

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Players urge Colombia coach to stay despite assault

<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-5Zi4pqVG4mQ/TkaeEAKNbLI/AAAAAAAACDg/IsWg0Kco8TE/s1600/Hernan+Dario+G%25C3%25B3mez+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://4.bp.blogspot.com/-5Zi4pqVG4mQ/TkaeEAKNbLI/AAAAAAAACDg/IsWg0Kco8TE/s200/Hernan+Dario+G%25C3%25B3mez+good+morning+colombia+news.jpg" width="194" /></a></div><div style="text-align: justify;">Colombia's international footballers on friday urged coach Hernan Dario Gomez to reconsider his resignation tendered this week after assaulting a woman outside a bar.<br /> <br /> In an open letter, the team members and backroom staff said that while abhorring the attack they wanted to back in an "unconditional way our friend, colleague and technical director".<br /> <br /> Gomez resigned on Tuesday after publicly apologising when local press reported that he had hit out twice at a woman who had insulted him at the weekend.<br /> <br /> "Following what happened on Saturday evening, which has left me feeling mortified, I would like to say publicly that I am profoundly sorry for having lost control in the way I did," Gomez said after offering his resignation.<br /> <br /> "It shames me in front of my mother, my wife and every single woman in my family and in my country," he went on.<br /> <br /> The Federation later announced that "an extraordinary meeting" would be held in the next week as they decide their next move, and that, "for the moment, the national team will not have a coach."<br /> <br /> In their letter the players conceded that the coach had committed a "very serious error" but insisted that "he immediately admitted it, giving an example of his value and his love for Colombia and his family".<br /> <br /> And they announced that they were ready to be "standard bearers for the cause of non-violence against women" and use the incident as an "opportunity to grow."<br /> <br /> The players also called for the support of fans, sponsors and public opinion.<br /> <br /> Gomez had been working as an observer for FIFA at the under 20 World Cup, which is currently being held in the South American country.<br /> <br /> He led Colombia to the quarter finals of the recent Copa America, where they lost to Peru, and also took Ecuador to the World Cup finals for the first time in their history in 2.002.</div>

Players urge Colombia coach to stay despite assault

Colombia's international footballers on friday urged coach Hernan Dario Gomez to reconsider his resignation tendered this week after ass...

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Free trade agreement could help soybean farmers

<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-Qto5U6Jt2yk/TkadPQId5GI/AAAAAAAACDc/Hrpdg243bWg/s1600/Ohio+Soybean+Association+good+morning+colombia+news.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="45" src="http://1.bp.blogspot.com/-Qto5U6Jt2yk/TkadPQId5GI/AAAAAAAACDc/Hrpdg243bWg/s200/Ohio+Soybean+Association+good+morning+colombia+news.jpg" width="200" /></a></div><div style="text-align: justify;">A free trade agreement proposal between the U.S. and Panama, South Korea and Colombia involving soybeans could be a boon to Ohio soybean farmers, including those in Coshocton County.<br /> <br /> However, livestock farmers who use soybeans for food and other businesses that use soybeans could be hurt by less local supply and increased prices if foreign demand is high.<br /> <br /> According to the <b>Ohio Soybean Association,</b> 55 percent of Ohio's agricultural export total comes from soybeans. <br /> <br /> In 2.010, that added up to $1.5 billion. <br /> <br /> According to the association, if the trade agreements are passed and implemented, this could mean a possible $3 billion in additional U.S. exports, leading to economic development and jobs.<br /> <br /> "The more markets that are opened up, the more advantage it is for the producer. <br /> <br /> That's not necessarily for soybeans, but anything. </div><div style="text-align: justify;"> </div><div style="text-align: justify;">If it is a true free trade agreement, it'll help those people on the other end too by making soybeans and its products more available to them.<br /> <br /> "The more people that are buying, the better it is for the seller. <br /> <br /> It's not only an advantage for farmers, but for anybody selling anything.<br /> <br /> Paul Golden, of the Ohio State University Extension Office of Coshocton County, said about 20,000 acres in the county are devoted to soybeans, either as a constant crop or rotated with corn. </div><div style="text-align: justify;"> </div><div style="text-align: justify;">He said only about 8,000 acres in the county were used for soybeans 15 years ago.<br /> <br /> Golden said one reason for the increase is a raise in soybean prices. He said a bushel of soybeans is more than $14 today and was about $4.50 per bushel 15 years ago. <br /> <br /> He also said soybeans cost less money to plant than other crops. <br /> <br /> Additionally, soybeans are easier to farm than some other crops because of new weed control technology.<br /> <br /> "It's great for the farmer who can show an increase in his margin and an increase in his profit," Golden said.<br /> <br /> "The fact that we're getting a very high price for the soybeans is phenomenal for the cash grain producer. <br /> <br /> My concern is how that trickles down to the livestock producer that has to purchase soybean meal."<br /> <br /> He said one main use of soybeans is to make soybean meal as a food for livestock. <br /> <br /> Livestock farmers who also grow soybeans still have to send the raw soybeans out to be processed then buy meal on the open market, Golden said.<br /> <br /> Golden said the trend comes down to the basics of supply and demand. If the demand goes up without the supply going up, then that will raise prices overall.<br /> <br /> "When we talk about free trade, there's always a trade off somewhere," Golden said. <br /> <br /> "The price of corn is so high because of the ethanol demand. <br /> <br /> Now, maybe, we're going to increase the demand for soybean meal. <br /> <br /> <b>What does that do to the livestock producer? Ultimately, what does that do to the consumer?"</b></div>

Free trade agreement could help soybean farmers

A free trade agreement proposal between the U.S. and Panama, South Korea and Colombia involving soybeans could be a boon to Ohio soybean far...

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