Prosecution sees a “legal victory” in reduction of payment for Oxy

  An illegal act and another out of competition affected the reduction of the compensation the Ecuadorian government shall pay to the multinational oil company Occidental (Oxy), for having terminated a contract they had in 2006.   This emerges from the final decision...
Posted On 04 Nov 2015
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When buying alcohol is a child’s play

    The adoption of the Integral Criminal Code included the sale of alcohol to minors as a violation of fourth class; ie up to 30 days in prison. That penalty, although current and real, is unusual, as evidenced by official figures: operationd of this type focus on bars...
Posted On 04 Nov 2015
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Ministry of Education announces changes to the school system

  The beginning of the school year, the high school diploma and supplementary exams will change from the 2016-2017 school year. This was announced by Education Minister Augusto Espinosa, who explained that this is part of the Regulations to the Organic Law of Intercultural...
Posted On 04 Nov 2015
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Seizure of cocaine in La Mana county

  Narcotics Police detected in La Mana county, Cotopaxi, after a telephone warning, a citizen who brought with him 2.1 kilos of cocaine, divided into four packages. According to a statement of the Interior Ministry, citizen A.M.U. was on his way to to Quevedo, Los Rios....
Posted On 04 Nov 2015
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President Correa gave an economic speech at the solemn session in Cuenca

During the solemn session by the 195 years of independence of Cuenca, Ecuador’s president, Rafael Correa, changed his usual historical references for detailed numerical explanations.   With a justification tone, Correa filled his speech with accounts. First, the...
Posted On 04 Nov 2015
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The maritime business sails on a rough sea

The German shipping group Hapag Lloyd will place its initial public offering at the lower end of a revised range, which will give it a market capitalization of 2,400 million euros, less than half the original target, said two people familiar with the business. Hapag Lloyd shares...
Posted On 04 Nov 2015
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Comptroller´s office did not obtain full details of CONAIE headquarters

  Before the “absence” of documents the State Comptroller contends it could not verify of the Confederation of Indigenous Nationalities (CONAIE) made a “fair use” of the headquarters building granted in commodatum in 1991 by the Ministry of Economic...
Posted On 04 Nov 2015
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“Pichincha Bank has restricted credits”

    The general manager of the Pichincha Bank, Fernando Pozo, explains that the fall in oil prices has led to a massive withdrawal of deposits, which has resulted, collaterally, in a decrease in the loan portfolio. However, he says, the bank has a prudent policy of...
Posted On 04 Nov 2015
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Analysis of electoral law reform is postponed

  The appearance of the head of the National Electoral Council, Juan Pablo Pozo, at the Commission of Citizen Participation of the Assembly, which will give way to the analysis of eleven proposed amendments to the Code of Democracy was postponed for the next week.   The president...
Posted On 04 Nov 2015
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Ecuador presents a tourism campaign focused on the ’emotions’ in London

  Ecuador presented on November 2, 2015, in London its tourism campaign focused on the feelings of the visitor because “emotions are priceless,” told to Efe the deputy minister of tourism promotion, Dominic Hamilton, in the framework of the World Travel Market...
Posted On 04 Nov 2015
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