For Latin American banks, 2022 has been the year of the triple whammy: economic fallout from COVID-19; the inflationary effects of Russia’s Ukraine invasion and then the worst tightening in global credit conditions in decades.
The bill would force the rich to declare their assets at current value, unlike the old law, which allowed them to report assets at their original purchase price.
(Bloomberg) Jaime Gilinski is making a fresh run at taking control of Colombia’s largest business group with a $1 billion bid to increase his ownership stakes of a financial conglomerate and the country’s largest food maker.
(Bloomberg) It controls Colombia’s largest bank, food manufacturer, and cement maker. It operates airports, insurers and hamburger chains. And its companies make up half of the stock index.