From The Daily Journal Online
The World Bank approved two loans for Colombia totaling $257 million to promote business productivity and investment as well as sustainable development.
Colombia will receive $250 million to create and operate businesses and improve their access to finance, the World Bank said on its Web site.
The nation has 17 1/2 years to pay back the loan, with a 5 1/2 year grace period.
Colombia will have 11 1/2 years to pay a $7 million loan to reduce air and water pollution and improve hygiene, according to the World Bank. Bloomberg.
Originally posted here.
One of the silliest questions I have ever been asked as a Colombian is, have you ever been to a Mall? Of course, all mayor cities in Colombia have big malls just like in the United States. In fact look at how Almacenes Exito did recently, pretty impressive.
BOGOTA, Colombia, Oct 27 (Reuters) – Colombia’s largest supermarket chain, Almacenes Exito (IMI.CN: Quote, Profile, Research), reported a 38.6-percent rise in net profits in the first nine months of the year compared with the same period of 2004, the stock market regulator said on Thursday.
Profits rose to 21.5 billion pesos ($9 million), the Securities Superintendency said.
Operating income of the firm controlled by Colombia’s Grupo Empresarial Antioqueno and 32-percent owned by France’s Casino (CASP.PA: Quote, Profile, Research) rose by 5.5 percent to 2.4 trillion pesos ($1 billion). ($1 = 2,290 pesos)
The play “The Keening” by Humberto Dorado is to be adorned by kids drawings. Full article from the TownOnline.
In order to broaden the audience’s engagement with the issues raised by the production of the English-language premiere of “The Keening,” the American Repertory Theatre will present several public events at the Zero Arrow Theatre during the run of the play.
The events, free and open to the public, include:
Monday, Nov. 7, at 7 p.m. – Discussion with the Cultural Agents Initiative, an organization that uses the active engagement of the arts and humanities to create positive change in society, thus, building democracy, citizenship and social development.
Adius a las Trampas – An exhibition of drawings by Colombian children responding to the political and social conditions in Colombia on display in the lobby of Zero Arrow Theatre during the run of the show.
Another Colombian national treasure is Fernando Botero, here is the article from the Art Daily.
For Fernando Botero – recently in the news with the unveiling of his Abu Ghraib series – the theme of military regimes and their use of power has made appearances in his work during his entire career. Less overt in its _expression of unrest but reflecting a clear interest in the military as a subject-matter is Junta Militar (estimate: $750,000-950,000), a painting Botero executed in 1973 and the cover lot of the sale. At first glance the work is a signature Botero – full figures in bright, flat colors – but a second reading evokes the kernel of his developing fascination with the military and on a more emotional level, issues such as loss, sadness and nostalgia. Junta Militar exudes a slightly unsettling atmosphere and in its mild, almost deceiving way, it is a milestone on the artist’s road to uncovering the many layers of society’s dehumanization which often occurs at the hands of politicians and generals.
Also here is an older post by Paul Schmelzer about the Abu Ghraib paintings.
News item submited by Chuli Pichuli.
Gabo (Gabriel Garcia Marquez) is probably one of the most famous Colombians in the world. He is withouth a doubt the best country that was born in Colombia, a true symbol of national pride. With his writting style, Magic Realism, he has delighted the world and even won the Nobel Prize for literature in 1982 for his book One Hundred Years of Solitude.
Here is what Publishers Weekly has to say about his new book translated by Edith Grossman.
From Publishers Weekly
García Márquez’s slim, reflective contribution to the romance of the brothel, his first book-length fiction in a decade, is narrated by perhaps the greatest connoisseur ever of girls for hire. After a lifetime spent in the arms of prostitutes (514 when he loses count at age 50), the unnamed journalist protagonist decides that his gift to himself on his 90th birthday will be a night with an adolescent virgin. But age, followed by the unexpected blossoming of love, disrupts his plans, and he finds himself wooing the allotted 14-year-old in silence for a year, sitting beside her as she sleeps and contemplating a life idly spent. Flashes of García Márquez’s brilliant imagery—the sleeping girl is “drenched in phosphorescent perspiration”—illuminate the novella, and there are striking insights into the euphoria that is the flip side of the fear of death. The narrator’s wit and charm, however, are not enough to counterbalance the monotony of his aimlessness. Though enough grace notes are struck to produce echoes of eloquence, this flatness keeps the memories as melancholy as the women themselves. 250,000 first printing.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Article over at Colombia Journal by by Mario A. Murillo
President Uribe responded favorably to the ruling, calling it “an important step for democracy,” and stating his support for a similar measure that would allow for the re-election of governors and mayors. The decision opened the way for an early start to the campaign season, which will culminate with presidential elections in May 2006. Supporters and opponents of Uribe have been preparing their arguments for months.
Press reports in Colombia often credit the president’s dual strategy of negotiating a demobilization deal with right wing paramilitaries and confronting left-wing guerillas militarily with bringing security to many regions of the country. These apparent successes are welcomed in Washington, which has invested over $4 billion dollars in Colombia since 2000, mostly in the form of military and security assistance.
Article from the Financial Times.
Colombian business groups and US officials on Thursday cheered a landmark court ruling that virtually enables Alvaro Uribe to be the first president in a century to run for a second consecutive term – a vote he is likely to win.
Eight of the nine magistrates that form Colombia’s constitutional court late on Wednesday declared as legal a congressional amendment that lifts a historic ban on immediate presidential re-election.
An article by John Guzman
As an adult now I look back at many preconceptions I had about feeling safe. I felt safe when I was inside my house, or when my father was with me. I guess my family did a great job of sheltering me from ever feeling unsafe, or maybe I truly never had a reason not to feel less safe. My family decided to move to the US from Colombia for many reasons, but one of them was because it was safer than in our violence stricken country. Was that a huge misconception? Is the US truly a safer country?
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The New York Times seems to think so.
President Álvaro Uribe of Colombia, the Bush administration’s closest ally in Latin America, will probably be able to run for a second term after the country’s highest court ruled yesterday that a congressionally approved amendment to permit re-election was constitutional.
With his approval ratings approaching 80 percent, Mr. Uribe seems likely to be able to vanquish a crowded field of challengers in May to win another four-year term.
A win by Mr. Uribe would ensure that Washington retains a reliable caretaker for two of the Bush administration’s top priorities in this tumultuous region, the fight against drugs and Marxist rebels.
Colombia’s economy is growing strong along with the Government having an 80% approval rating. Compare that to Bush’s 40% approval which is what polls have shown lately.
Read the original press release here!
“The proceeds from this financing are primarily being used to pay for the first-year exploration and development program on our recently optioned Caramanta gold concessions. This is a gold project that has already had approximately $9 million spent on it during the mid 1990s by a previous operator who was forced to leave the country amidst a period of civil strife. We are optimistic that our experienced team of local geologists have a solid understanding of the previous operator’s exploration work,” stated Daniel Hunter, the company’s Chairman and CEO.
Mr. Hunter added, “We believe that the political climate in Colombia has changed markedly since Alvaro Uribe has been president. Our management’s opinion is that his commitment to reforms aimed at encouraging foreign investment in the mining sector while reducing the state’s role as a producer of minerals has made Colombia a very desirable place to explore and develop advanced gold properties.”
Colombia is gaining economic strength thanks to a more stable government. While things are not perfect they are defiantly looking up.