VENTURE CAPITAL POST

The mayor of Medellin, the second-largest city in Colombia, has banned prostitution in some of the city's most popular places for six months.

Fatalities in the Colombia plane crash on Monday has risen to 75. The British charter plane was en route to Medellin when it crashed in La Union.

For the sake of historical value and concern, the government of Colombia is signing the Historical Peace Deal.

President Barack Obama said he would ask Congress for about $450 million in funding to help Colombia to reach an economic stability and peace in the country. Besides that the 'Plan Colombia' policy will also be changed to 'Peace Colombia' policy from now on.

South American nation Venezuela is suffering from gasoline smuggling to neighboring nations. Gasoline is heavily subsidized in Venezuela. The cheaper gasoline smuggling has become a major revenue source in the crisis-hit Venezuelan economy. Venezuela's President has deployed soldiers in large number to keep constant vigil on its borders. Venezuela is losing foreign exchange revenue in US dollars because of smuggling of gasoline.

Aedes mosquitoes are the bearer of Zika virus which is available across the US. WHO warns the US for a probable Zika virus induced epidemic. Brazil has appeared as the most Zika affected country. The US and other governments have issued a travel alert for the pregnant women forbidding to visit the Zika prone region. The travel alert has offbeat the organizers of the Rio de Janeiro olympic scheduled to be held in August.

The Colombian Central Bank is heading towards a hike in interest rate. The Colombian government is keen on checking inflation rise and control the current account deficit.

The oil production in Colombia is poised to drop below the target of one million barrels per day in 2016 following the slowing down of drilling activity and ageing of major oil fields.

Colombia will delay spending 6 trillion pesos ($2.44 billion), some 3 percent of its national budget, due to a sharp fall in oil revenue, the government said on Saturday.

Facebook Inc Chief Executive Mark Zuckerberg launched a free Internet application in Colombia on Wednesday as part of a drive to bring developing markets online, but remained mute on when and if the company would look to move into China.

Colombia-based firm Grupo Energia de Bogota inked a deal valued at $650 million to acquire a 23.61% stake in Peru-based gas pipeline operator Transportadora de Gas del Peru.

German Efromovich, the owner of Colombian flag carrier Avianca, is reportedly looking to acquire Italian airline Alitalia or Polish flag carrier LOT Polish Airlines. Efromovich seeks to boost his presence in Europe.

Ireland-based construction and engineering company Kentz has taken over US-based Valerus Field Solutions for USD435 million (EUR316 million) in a deal that will also expose Kentz to Latin American markets.

State-owned oil company Petroleos del Peru SA (Petroperu) is reviving plans to sell as much as 49% of its shares,according to Energy and Mines Minister Jorge Merino.

Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.