How can the stock exchange bring stability to the Colombian financial markets? CÓRDOBA: The primary lesson of the global financial crisis is that excess risk concentration in the banking sector can lead to systemic events. This must not be repeated and all regulatory efforts are focused on avoiding this risk concentration among...
Promigas is a Colombian company focused on the transport and distribution of natural gas, with 40 years of experience and operations in Colombia and Peru. During 2014, 50% of the natural gas sold in Colombia was transported through Promigas’ grid. Its extensive network of more than 2900 km of gas pipelines is one of the country’s main energy...
The Latin American Integrated Market (Mercado Integrado Latinoamericano, MILA) was first set up in 2011 by the stock exchanges of Chile, Colombia and Peru. The Mexican stock exchange, Bolsa de Valores de México (BVM), joined in late 2014. MILA’s aim is to generate more and better exposure for the stock markets of which it consists, and to...
Ecopetrol is the largest corporation in Colombia, one of the 50-largest oil and gas companies in the world, and one of the four largest in Latin America. Its controlling shareholder is the Colombian government with an 88.5% stake. It plays a key role in the economy, since oil and gas represent more than half of the country’s exports, and its...
Empresa de Energía de Bogotá (EEB) is a utility holding created in 1896 with a presence in the segments of electricity generation in Colombia, through Emgesa; electricity distribution in Colombia, via Codensa and Empresa de Energía de Cundinamarca (EEC); gas transport in Colombia, through TGI; gas distribution in Peru, via Calidda and Contugas...
How will the new tax reform and the financial transactions tax affect the banking sector? SARMIENTO: The tax reform, passed in December 2014, encompassed a tax on financial transactions, an equity tax and an increase in income tax. The first two were just extensions of existing taxes that were supposed to cease starting in 2015....
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