Colombia

Uber to stop operating in Colombia following court order

An Uber vehicle on the street.
Photo: Michal Fludra/NurPhoto via Getty Images

Uber will halt its operations in Colombia at the end of the month, after a judge found the transportation company violated the country's competition rules, Reuters reports.

Why it matters: Uber is likely to look for ways to get back into Columbia, though this comes as a blow to a business that is trying to show investors it can turn a profit and continue growing, especially in regions like Latin America. Uber called the decision "arbitrary" in a statement, and said it violated its right to due process, per Reuters.

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Venezuela refugee crisis overwhelms Colombia: "We don't have the money"

Crossing the Simon Bolivar bridge into Colombia. Photo: Schneyder Mendoza/AFP/Getty Images

Colombia expects the number of Venezuelan refugees within its borders to rise from an already staggering 1.4 million to 3 million by 2021 if the current crisis continues, Ambassador Francisco Santos told reporters at a briefing on Wednesday, adding, “to be very sincere, if it goes to 3 million, we don’t have the money.”

The big picture: Venezuela’s exodus now rivals Syria’s, and countries including Ecuador and Peru are taking steps to stem the flow of refugees. Not Colombia. “With this government, with this president, that’s going to be the policy: open doors,” Santos says.