Business Latin America

  DMCC and Panama’s Logis AgriLogistics Sign MoU to Facilitate Collaboration Between the Two Free Zones The MOU will see DMCC and Logis work together to explore potential areas of cooperation between the two free zones  . The two parties will work together to promote the development of commodities trading in both free zones. Source: DMCC DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has signed a Memorandum of Understanding (MOU) with Logis, an agri-logistic free trade zone that is being constructed in Panama. Once completed, Logis will be the largest free trade zone of its kind in Central and Latin America. The MOU will see DMCC and Logis work together to exchange knowledge and expertise to support the continued development of thriving commodities marketplaces in both free zones. The MOU was signed by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, and Sandro Salsano, President of Salsano

  International Holding Company (IHC)  steps into Latin America with US$200 million investment in Lulo Colombia S.A . Colombia is the fourth global market IHC steps into in 10 months. The investment represents 49.9% of Lulo Bank's ownership. Lulo bank is the first fully digitalised bank in Colombia. Source: SAWYA Abu Dhabi, UAE: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today a capital investment of  AED 734 million (USD 200 million) in Lulo Colombia S.A., which is also the holding company of Colombia’s first regulated digital bank, Lulo Bank S.A. (“Bank”), through one of IHC’s subsidiaries. Lulo Bank is a fast-growing and new player that enters the field of neobanks in the Colombian market and plans to expand into other Latin American markets. The Bank was founded by Jaime Gilinski, a Colombian businessman with over 45 years of banking experience in Latin America, North America, and Europe. Commenting on th