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The images will then be used to build an inventory of the archaeological discoveries on the seabed. But it has also sparked a multi-billion dollar legal battle. Colombia maintains that it first discovered the San José in 2015 with help from international scientists. SSA has launched a legal battle against the Colombian government in the Permanent Court of Arbitration, claiming it is entitled to approximately $10 billion – half the estimated value of the shipwreck’s treasure. The loss of the San José and its cargo was said to have caused financial hardships to merchants throughout Europe and the New World, according to reports released by SSA.
Persons: , Juan David Correa Organizations: CNN, Colombian Institute of Anthropology, Wednesday, San, San Jose Galleon, SSA Locations: Colombia, Spanish, Caribbean, Cartegena, Colombian, Potosi , Peru, Panama, Cartagena, San Jose, José, Europe
But this marks the first time in recent history that Bogotá has been forced to implement water rationing measures. Mayor Carlos Galán announced that water rationing measures for Bogotá would begin on April 11. El Niño is a natural climate pattern originating in the Pacific Ocean along the equator, which influences weather around the globe. In a country as politically divided as Colombia, the urgency of addressing El Niño is a rare point of consensus. Bogotá’s water rationing plans have been supported by the country’s president, who has historically had a testy relationship with the city’s mayor.
Persons: Colombia CNN —, Montgomery Burns, , El Niño, Ivan Valencia, Carlos Fernando Galán, ” Galán, It’s, El, Bogotá, Magdalena, , Armando Sarmiento, Sarmiento, Mayor Carlos Galán, Fernando Vergara, Niño, Susana Muhamad, ” CNN’s Heather Law, Ana Melgar Organizations: Colombia CNN, , Bogotá’s Javeriana University, CNN, Bogotá, El Niño Locations: Bogotà, Colombia, Bogotá, San Rafael, El, Colombian, Latin America, Mexico City, Magdalena, Colombia’s, Bogota, Mayor, Sarmiento
Central Bank is ‘mechanism of fraud’Milei also reiterated his intention to shut down the country’s central bank, calling the institution a “mechanism of fraud.”“A central bank is a fairly recent invention. Milei admitted his reform push has stalled in Argentina’s Congress in recent weeks, but his government maintains the intention to close the central bank within three years. In the interview, Milei claimed his government’s greatest success since entering office in December has been to beat the hyper-inflation and achieve a fiscal surplus for the first time in years. Milei celebrated Argentina’s fiscal surplus, achieved last month for the first time in years, and said that fiscal stability is “a beacon” of his government. Argentina’s poverty rate is over 50%, according to a report from the Argentina’s Catholic University in Buenos Aires.
Persons: ” “, Gustavo, Petro, Javier Milei, Andrés Oppenheimer, Miami Herald –, Colombia’s, Milei, , Andrés Manuel López Obrador, ” López Obrador, López Obrador, Argentinians “, ” “ Israel, ” Milei, Benjamin Netanyahu, Donald Trump, , it’s, Oppenheimer, ’ Milei, Argentina’s Organizations: CNN, Colombian, Colombian Foreign Ministry, Miami Herald, Israel, ” Defense, Trump, Israeli, Republican, Democrats, Central Bank, Ulysses, Argentina national, Argentina’s Catholic University Locations: Bogotá, Argentine, Gaza, Israel, Buenos Aires, United States, Argentina’s
Pope Francis received an emotional welcome on the island during a visit showing solidarity with migrants fleeing war and poverty. ARIS MESSINIS/AFP/Getty Images Pope Francis confesses in St. Peter's Basilica during the Vatican's Penitential Celebration on Friday, March 4, 2016. Alessandro Di Meo/AP Pope Francis arrives for his visit with prisoners in Santa Cruz, Bolivia, on Friday, July 10, 2015. Franco Origlia/Getty Images Pope Francis and Ecumenical Patriarch Bartholomew I address the faithful in Istanbul on Sunday, November 30, 2014. Gokhan Tan/Getty Images Pope Francis speaks during the feast-day Mass while on a one-day trip to Italy's Calabria region in June 2014.
Persons: Pope Francis, Cardinal Michael Czerny, Francis, , , Regina Coeli, Vincenzo Pinto, Juan Manuel Santos, Santos, Alessandra Tarantino, L'Osservatore Romano, VINCENZO PINTO, Simon Bar Sabbae, Pope, FILIPPO MONTEFORTE, Karekin, TIZIANA FABI, Giuseppe Ciccia, MAX, Pope Francis tries, Pope Benedict XVI, Alessandro Di Meo, Evo Morales, OSSERVATORE ROMANO, Vladimir Putin, Putin, Federico Lombardi, Lombardi, Gregorio Borgia, Getty Pope Francis, Raul Castro, Castro, GABRIEL BOUYS, ANDREAS SOLARO, Kurukkal SivaSri, Mahadeva, Pope Francis in, Eranga, Franco Origlia, Bartholomew I, Gokhan Tan, San Gregorio Magno, Queen Elizabeth II, Prince Philip , Duke of Edinburgh, Oli Scarff, Barack Obama, SAUL LOEB, Santa Sabina, Max ROSSI, Daniele De Sanctis, Pope Francis ', FABIO FRUSTACI, Benedict XVI, Benedict, L'OSSERVATORE ROMANO, Osservatore Romano Pope Francis, Vinicio Riva, Riva, CLAUDIO PERI, Rainbow Association Marco Iagulli Onlus, Fotografia, Father Don Renzo Zocca, Osservatore Romano, LUCA ZENNARO, Jorge Saenz, Dan Kitwood, Jesus, Internationalis Paulus VI, Argentine Cardinal Jorge Mario Bergoglio, Roman Catholic Church's, Peter Macdiarmid, Pope Francis Prev, it’s, He’s, Filippo Monteforte, Donald Trump’s, Czerny, Trump, Donald Trump, Melania, Evan Vucci, Reuters “, ” Cardinal Czerny, Cardinal Czerny, doesn’t, Francis ’, “ Jesus Organizations: CNN, Getty Images, Colombian, Revolutionary Armed Forces, International Catholic Rural Association, Vatican, AFP, Getty, Catholic Chaldean, St, Mercy, ARIS MESSINIS, MAX ROSSI, Getty Images Bolivian, Cuban, Sunday, Queen, getty, Rainbow Association, Renault, Catholic, Roman Catholic, Intelligence, Warner Bros, Discovery, , Republican, Reuters Locations: St, AFP, Colombia, Rome, Tbilisi , Georgia, Auschwitz, Birkenau, Poland, Etchmiadzin, Yerevan, Armenia, Vatican City, Moria, Lesbos, Peter's, Mexican, Havana, Cuba, Mexico, Santa Cruz , Bolivia, South America, Ecuador, Paraguay, La Paz, Bolivia, Italian, Ukraine, Iraq, Syria, Havana and Washington, Vatican, Pope Francis in Colombo, Sri Lanka, Istanbul, Italy's Calabria, Jerusalem's Old City, Argentina, Roman Parish, San, Rome's, Santa, Brazil, Rio de Janeiro, Argentine, America, Gaza, Nove, Lampedusa, Italy, Ciampino, Czechoslovakia, Canada, United States, Africa
CAPE TOWN, South Africa (AP) — South Africa, Colombia and other countries that lost out in the global race for coronavirus vaccines are taking a more combative approach towards drugmakers and pushing back on policies that deny cheap treatment to millions of people with tuberculosis and HIV. The pills are especially important for South Africa, where TB killed more than 50,000 people in 2021, making it the country’s leading cause of death. In July, J&J’s patent on the drug expired in South Africa, but the company had it extended until 2027, enraging activists who accused it of profiteering. Back then, President Nelson Mandela’s government in South Africa eventually suspended patents to allow wider access to AIDS drugs. Bedaquiline was not rolled out as a standard treatment in South Africa until 2018.
Persons: they’ve, , Brook Baker, Johnson, Christophe Perrin, Peter Maybarduk, Petro Terblanche, Afrigen, Nelson Mandela’s, “ Mandela, Terblanche, Lynette Keneilwe Mabote, Andy Gray, Gray, Zolelwa, Bedaquiline, , Sifumba, ___ Cheng Organizations: Health Organization, Northeastern University, One, Johnson, J, Viiv Healthcare, WHO, Public Citizen, Pfizer, Moderna, Terblanche, Big Pharma, South, University of KwaZulu, World Health Organization, AP Locations: CAPE, South Africa, Colombia, Belarus, Ukraine, Colombian, Washington, Africa, Natal, South African, London
A 43 year-old hedge fund exec was revealed as one of the world's leading deep-sea treasure hunters. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA hedge fund executive has been unmasked as one of the world's leading deep-sea shipwreck hunters after a Bloomberg Businessweek investigation uncovered his decades-long hunt for sunken treasure worth billions. Marshall Wace is one of the world's biggest hedge funds, managing assets worth about $62 billion. AdvertisementThe technology has allowed wealthy individuals like Clake to fund exploration of the seabeds.
Persons: , Anthony Clake, Marshall Wace, He's, Clake Organizations: Service, Bloomberg Businessweek, Bloomberg, SS, Colombian, US, Business Locations: London, American, South Africa, Africa, Spanish, Colombian, Bolivian, San
Mendoza, a former fighter for the now-disbanded Revolutionary Armed Forces of Colombia (FARC) guerrillas, dragged her children back inside the house. In interviews with Reuters, those people recounted how the attacks left conservation projects adrift, with conservationists withdrawing from environmental protection works because of fear of more violence. Municipal data from local environmental authorities and the Colombian Institute of Meteorology (IDEAM) also showed that in the year after each killing, deforestation at a local level was worse than national trends. Santofimio's killing brought his hard-fought conservation project to a halt. In the tree nursery, which stopped work after Santofimio's killing, saplings bask in the dappled sunlight beneath protective nets.
Persons: Duberney Lopez, Jorge Santofimio, PUERTO, Leidy Mendoza, Mendoza, Jorge !, they'd, Susana Muhamad, Muhamad, Colombia's, , Armando Aroca, Santofimio, Lopez, Kevin Murakami, Comuccom, Aroca, Javier Franciso Parra, Francisco couldn't, Andres Felipe Garcia, Cormacarena, Parra, Garcia, Luisz Martinez, Martinez, La, KfW, Roberto Gomez, Gonzalo Cardona, Sara Ines Lara, Oliver Griffin, Julia Symmes Cobb, Katy Daigle, Claudia Parsons Organizations: Revolutionary Armed Forces, Colombian, Villagers, Reuters, Environment Ministry, Global, Colombian Institute of Meteorology, Comuccom, International Narcotics, Law, Affairs, U.S, National Liberation Army, UN, Programme, Meta, UNDP, Progress, World Wildlife Fund, Security, USAID, Thomson Locations: Colombia, PUERTO GUZMAN, Putumayo, Bogota, La, Meta, La Macarena, Amazonia, Puerto Guzman
When the San José made its final voyage from Seville, Spain, to the Americas in 1706, the Spanish galleon was considered to be one of the most complex machines ever built. But in an instant, the armed cargo vessel went from a brilliant example of nautical architecture to what treasure hunters would come to consider the Holy Grail of shipwrecks. The San José was destroyed in an ambush by the British in 1708 in what is known as Wager’s Action, sinking off the coast of Cartagena, Colombia, with a haul of gold, jewels and other goods that could be worth upward of $20 billion today. But the myth built around the San José has prompted the Colombian government to keep its exact location a secret as a matter of national security. It is the latest maneuver in a decades-long drama that has pitted treasure hunters, historians and the Colombian government against one another.
Persons: José, Gustavo Petro Locations: Seville, Spain, Americas, Spanish, José, Cartagena, Colombia, Colombian
CNN —The cousin of Liverpool soccer star Luis Díaz told CNN on Friday that his family is relieved and “really thankful for all the support from the entire nation,” following the release of Díaz’s father by the National Liberation Army (ELN) guerrilla group on Thursday night. Díaz Sr. was abducted along with his wife, Cilenis Marulanda, by ELN gunmen on October 28 in his hometown of Barrancas, northeastern Colombia. A few hours later, he was received by his relatives and friends at the Díaz family home in Barrancas. Luis Díaz’s cousin, Jose Brito Díaz, spoke with CNN by phone from Barrancas, saying it was a moment of celebration for the entire family and the town at large. Díaz Sr. was welcomed back in his hometown on Thursday.
Persons: Luis Díaz, , Díaz, Cilenis, Marulanda, Luis Díaz’s, Jose Brito Díaz, ” Brito Díaz, Ricardo Maldonado Rozo, EFE, EFE Díaz Organizations: CNN, National Liberation Army, UN, Europa League, Toulouse FC, Colombian Football Federation, Brazil Locations: Liverpool, Barrancas, Colombia, Valledupar, videocall, Toulouse, France, Liverpool’s, Colombian, Paraguay
The father of Luis Díaz, a Colombian soccer star for the English club Liverpool, was freed on Thursday after he was kidnapped by a guerrilla group, Colombian officials said. “We report with joy the release of Don Luis Manuel Díaz,” the Colombian government’s commission for peace talks said in a statement on Thursday morning. “We hope that he will soon regain his tranquillity, disturbed by an act that should never have happened.”It was not immediately clear what was exchanged, if anything, for the elder Mr. Díaz’s freedom. “He was obviously emotional to be reunited with his family,” Carlos Ruiz Massieu, the special representative of the U.N. Secretary-General in Colombia, told The New York Times. “He needs more in-depth medical analysis after a situation like this, but he looked good in general.”
Persons: Luis Díaz, , Don Luis Manuel Díaz, Díaz, ” Carlos Ruiz Massieu, Organizations: Liverpool, Colombian, United Nations, Colombia —, New York Times Locations: Colombian, Colombia, La Guajira, Valledupar
“We thank God for the release of Mr. Luis Díaz!” the conference posted on X, formerly known as Twitter. Héctor Henao, delegate for Church-State relations, who formed the humanitarian commission in charge of facilitating his release.”Ceballos was on board a UN-funded helicopter that picked up Díaz’s father, Luis Manuel Díaz, from a forest area along the Colombian border with Venezuela. “We are delighted by the news of Luis Díaz’s father’s safe return and we thank all those involved in securing his release,” the club said in a statement. The Colombian government’s Peace Delegation and the ELN both welcomed the release of Díaz’s father. In addition, the Colombia Football Federation thanked all of the forces “that made possible the release of Luis Manuel Díaz, father of our player Luis Díaz.”
Persons: Luis Díaz, , Francisco Ceballos, Héctor Henao, ” Ceballos, Luis Manuel Díaz, Díaz, Stéphane Dujarric, Caitlin Hu, ” Luis Manuel Díaz, Colombia Dujarric, Cilenis Marulanda, Marulanda, Luis Díaz’s father’s, Carlos Camargo Assis, Organizations: CNN, United Nations, Catholic Church, Episcopal, Church, State, UN, National Liberation Army, Liverpool, Sunday, Premier League, Luton Town, Liverpool’s Europa League, Toulouse, Colombian, United, Colombia’s, Colombia Football Federation Locations: Liverpool, Colombian, Valledupar, Colombia, Riohacha, Mons, Venezuela, Conferencia, Barrancas, France, United Nations
The San José galleon sank off the coast of Colombia in 1708 during a battle with British forces. Many of the treasures on board the San José were taken from Colombian and Peruvian mines using slave labor, Insider previously reported. ARMADA DE COLOMBIAIn 1708, the year the San José met its tragic fate, Spain was in the midst of the War of Spanish Succession. ARMADA DE COLOMBIAOn the night of June 8, 1708, British commander Charles Wager attacked the Spanish fleet near Cartagena, Colombia. By modern estimates, the San José may contain between $4 billion and $20 billion of riches, according to Bloomberg.
Persons: , José, Spain's, King Philip of Anjou, Charles of Austria, Philip of Anjou, King Louis XIV, Philip, Charles Wager Organizations: British, Service, West Indies Fleet, Spanish, Expedition, Bloomberg Locations: San, Colombia, Colombian, San Jose, COLOMBIA, Spain, Spanish, France, Cartagena , Colombia, Santa Cruz, American, Bolivia
The company claims it first found debris from the San José which sunk in 1708. Court cases over the years have estimated the treasure is worth anywhere from $4 billion to $20 billion, Bloomberg News reported. AdvertisementAdvertisementIn 2015, then President Juan Manuel Santos said the real San José shipwreck had finally been discovered, but declined to make the coordinates public, saying they were a state secret. The company is suing for $10 billion — equivalent to half the value of the ship's treasures, according to the company's estimates — under the US-Colombia Trade Promotion Agreement. Photos and video of the ship show fine china, coins, and cannons littered across the ocean floor where the San José sunk.
Persons: , San José, Morra —, COLOMBIA Glocca Morra, Juan Manuel Santos, Gustavo Petro, Culture Juan David Correa Organizations: Service, San, NBC, Bloomberg News, Colombian, Colombia, Bloomberg, Culture, Petro Locations: Colombia, Colombian, Spanish, San, Cartagena , Colombia, US, Spain, San Jose, COLOMBIA
CNN —The National Liberation Army – the Colombian guerrilla group known by its acronym ELN – said military operations “don’t allow” the release of footballer Luis Díaz’s father, Luis Manuel Díaz, kidnapped since October 28. Luis Manuel Díaz was kidnapped in the small town of Barrancas, department of La Guajira, in northern Colombia. “This scenario does not allow carrying out the release plan quickly and safely, where there is no risk for Mr. Luis Manuel Díaz”, the statement said. Later on Monday, Colombia’s military officials said its troops, part of the search operation, were “ordered to reposition themselves” to provide guarantees for Díaz’s release. Colombia’s Ombudsman’s Office , the Catholic Church and the International Red Cross have offered to serve as guarantors for Luis Manuel Díaz’s release.
Persons: , Luis Díaz’s, Luis Manuel Díaz, Luis Manuel Díaz ”, , Cilenis Marulanda, Marulanda, , Lismari Machado, James Rodríguez, Diaz, Colombia’s, Luis Manuel Díaz’s Organizations: CNN, National Liberation Army –, Colombian, Liverpool, Premier League, AFP, Getty, Colombian national soccer team, Catholic Church, Colombian Government Locations: Barrancas, La Guajira, Colombia, Díaz
Barrancas, Díaz’s hometown located in northern Colombia, has never been so guarded. Relatives and friends marched in Barrancas to show solidarity with the Díaz family. Hundreds of people marched through Barrancas demanding Díaz's release. Gaby Díaz thanked the media and the citizens of Barrancas for their interest in knowing the fate of his father. Meanwhile, journalists, cameramen, and photographers from local and foreign media remain on guard outside the Díaz family residence, waiting for some reaction or news of the release of the Liverpool FC star’s father.
Persons: Colombia CNN —, Luis Díaz’s, , ” Luis Manuel Díaz, Cilenis Marulanda, Marulanda, Santiago Ángel, Juan Carlos Cuéllar, Díaz, Luis Manuel Díaz, , Otty Patiño, Gaby Díaz, Lismari Machado, ” Cristian Almenares, General William René Salamanca, Guillermo Acuña, Barranco Organizations: Colombia CNN, National Liberation Army, Liverpool FC, Colombian government’s, Law, CNN, AFP, Getty, Colombian, Díaz, Police, Army, Colombian Police, , Liverpool FC star’s Locations: Barrancas, Colombia, Colombian, Colombia’s La Guajira, ” Salamanca
CNN —Pablo Escobar’s notorious “cocaine hippos” are facing a cull, according to a statement from Colombia’s minister of environment and sustainable development Thursday. After Escobar’s death in 1993, authorities relocated most of the other animals in the collection, but not the hippos – because they were too difficult to transport. The descendants of drug kingpin Pablo Escobar's hippos present an environmental threat. Raul Arboleda/AFP/Getty ImagesThis new phase to control the hippo population involves three strategies: sterilization, relocation and “ethical euthanasia,” it added. In April, a hippo descended from Escobar’s collection died after being hit by a car.
Persons: CNN — Pablo Escobar’s, Pablo Escobar's, Raul Arboleda, Susana Muhamad, ” Muhamad Organizations: CNN, Locations: AFP, , India, Philippines, Mexico
Cilenis Marulanda, left, was also abducted but was rescued soon after. Photo: lismari machado/Agence France-Presse/Getty ImagesBOGOTA, Colombia—A leftist guerrilla group that embarked on peace talks with President Gustavo Petro ’s administration has been deemed responsible for kidnapping the father of European soccer star Luis Díaz , the government said Thursday. The National Liberation Army, which has operated since the 1960s and entered into a cease-fire agreement with the government in August, kidnapped Diaz’s parents, Luis Manuel Díaz and Cilenis Marulanda , on Saturday in the town of Barrancas in northeast Colombia near the Venezuelan border, said Otty Patiño , the government’s lead negotiator in talks with the group.
Persons: Cilenis Marulanda, lismari machado, Gustavo Petro ’, Luis Díaz, Diaz’s, Luis Manuel Díaz, Cilenis, Otty Patiño Organizations: Agence France, Getty Images, National Liberation Army Locations: Getty Images BOGOTA, Colombia, Barrancas, Venezuelan
At the same time, Republican voters are warier of foreign conflicts and less interested in foreign policy than they have been during previous competitive primary elections, said Doug Heye, a Republican strategist. Republicans have often said that militants who support or carry out attacks on Israel will try to slip through the U.S.-Mexico border, despite scant evidence of it. He also said, without evidence, that Hamas militants were pouring over the U.S.-Mexico border. STRATEGY BRINGS RISKSRepublicans have drawn a link between national security and border security before, albeit in broader terms. Still, the immigration crackdown that Republican candidates have proposed is not without risk, said Ayres, the Republican pollster.
Persons: Jose Luis Gonzalez, Doug Heye, Whit Ayres, Nikki Haley, Donald Trump, Ron DeSantis, Trump, DeSantis, General, It's, Rob Godfrey, Haley, Ayres, You've, you've, Gram Slattery, Ted Hesson, Jason Lange, Ross Colvin, Howard Goller Organizations: U.S . Border Patrol, ATV, REUTERS, Rights, Republican, Republicans, U.S, Cato Institute, Florida, Border Patrol, Department of Homeland, U.S . Customs, DHS, ISIS, Thomson Locations: U.S, United States, Mexico, Sunland Park , New Mexico, Israel, America, Iowa, Gaza, Palestinian, Colombia, Colombian, California
Ecuadorean authorities said they initiated the investigation because SNAI did not carry out a pending order to transfer the inmates for security reasons. Villavicencio, a prominent journalist who exposed corruption and organized crime, was gunned down while leaving a campaign event in August, bringing the country's rising violence to the spotlight this campaign season. On Friday, six of the suspects, who were identified by authorities as Colombian nationals, were killed in a prison in Guayaquil. The Colombian government condemned the killings and offered its support to Ecuadorean investigators in a statement on Saturday. The second round run-off vote will be held on Oct. 15, ending an election cycle marred by the South American country's rising violence.
Persons: Fernando Villavicencio, SNAI, Guillermo Lasso, Anna, Catherine Brigida, Franklin Paul Organizations: Police, South, Franklin Paul Our, Thomson Locations: Guayaquil
Ecuadorean authorities said they initiated the investigation because SNAI did not carry out a pending order to transfer the inmates for security reasons. Villavicencio, a prominent journalist who exposed corruption and organized crime, was gunned down while leaving a campaign event in August, bringing the country's rising violence to the spotlight this campaign season. On Friday, six of the suspects, who were identified by authorities as Colombian nationals, were killed in a prison in Guayaquil. The Colombian government condemned the killings and offered its support to Ecuadorean investigators in a statement on Saturday. The second round run-off vote will be held on Oct. 15, ending an election cycle marred by the South American country's rising violence.
Persons: Fernando Villavicencio, SNAI, Guillermo Lasso, Anna, Catherine Brigida, Franklin Paul Organizations: Reuters, Police, South Locations: Guayaquil
MEXICO CITY (AP) — The Colombian government manipulated a video to alter the applause received by President Gustavo Petro during his speech at the United Nations General Assembly in New York. The recording released by the presidential office incorporated applause for U.S. President Joe Biden, who spoke moments before Petro, making it appear the applause was directed at the Colombian leader. Although Petro did receive applause, the final clip of the video posted Thursday on the government’s YouTube channel does not correspond to what was broadcast in the U.N. video. At 1:52:39 of the official U.N. broadcast, the same applause that the Colombian government video shows going to Petro is heard but it is at the end of Biden's his address. In the edited video released by the Colombian government, all those seats look to be occupied.
Persons: Gustavo Petro, Joe Biden, Petro, Richard Drew, Luiz Inácio Lula da Silva, Biden, Volodymyr Zelenskyy Organizations: MEXICO CITY, United Nations General Assembly, Associated Press, Colombian, AP, YouTube, General Locations: MEXICO, New York, Colombian
Cocaine is set to become Colombia's top export this year, edging out oil products, according to a note from Bloomberg Economics. Revenue derived from Colombia's cocaine business is nearing $20 billion, ahead of the country's $19.1 billion in 2022 oil exports. Cocaine production in Colombia is at its highest level since 1991 amid lenient policies from Colombian President Gustavo Petro. Fast forward to 2022, and Colombia's cocaine industry generated an estimated $18.2 billion in export revenues, just behind oil export revenue of $19.1 billion. With the country's oil exports dropping 30% in the first half of this year, and its cocaine industry still growing steadily, Bloomberg estimates that 2023 will be the year when Colombia's cocaine revenues outpace revenues from oil.
Persons: Gustavo Petro, Felpi Hernandez, That's, Hernandez Organizations: Bloomberg Economics, Get, Service, Bloomberg Locations: Colombia, Colombian, Wall, Silicon
Every step through the jungle, there is money to be made. A guide on the treacherous route once you start walking: $170. A porter to carry your backpack over the muddy mountains: $100. Special, all-inclusive packages to make the perilous slog faster and more bearable, with tents, boots and other necessities: $500, or more. They are politicians, prominent businessmen and elected leaders, now sending thousands of migrants toward the United States in plain sight each day — and charging millions of dollars a month for the privilege.
Persons: Biden Organizations: Colombian Locations: United States, South America
REUTERS/Andrew Kelly/File PhotoWASHINGTON, Aug 10 (Reuters) - Colombian conglomerate Grupo Aval (GAA.CN) and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday. After the settlement was reached, Grupo Aval said the Justice Department did not bring any enforcement action and the SEC did not make a claim against the company for bribery. Corficolombiana will pay a criminal penalty of $40.6 million, the U.S. Justice Department said in a statement. Corficolombiana had conspired with Brazilian construction firm Odebrecht to pay bribes to Colombian government officials, according to prosecutors. Corficolombiana also agreed to continue enhancing its compliance program and providing reports to the Justice Department regarding remediation and the implementation of compliance measures, the Justice Department said.
Persons: Andrew Kelly, Grupo Aval, Corficolombiana, Odebrecht, Kanishka Singh, Isabel Woodford, Leslie Adler, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Grupo Aval, U.S . Foreign, U.S . Justice Department, Securities and Exchange Commission, SEC, Grupo, Justice Department, Odebrecht, U.S, Thomson Locations: Washington ,, Colombian, disgorgement, Swiss, Peru, Mexico, Argentina, Colombia, U.S, Washington
A cease-fire between the Colombian government and the country’s largest remaining rebel group took effect on Thursday, the longest halt to hostilities the group has agreed to and a milestone in efforts to end the country’s 60-year internal conflict, which has killed roughly 450,000 people. While the cease-fire is supposed to last six-months, it could pave the way for a permanent truce with the leftist group, the National Liberation Army, a guerrilla organization known as the E.L.N. that operates in the countryside and has helped fuel the violence that plagues parts of rural Colombia. Mr. Petro, himself a former member of a rebel group, is the country’s first leftist president. The cease-fire applies to combat between the E.L.N.
Persons: Gustavo Petro, Petro Organizations: Colombian, National Liberation Army Locations: Colombia
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