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Sumil: the FAE accepted HAL´s delay in deliveries

  The Ecuadorian Air Force (FAE) would have “accepted” that the Indian company Hindustan Aeronautics Limited (HAL) delivers with delays parts of the Dhruv helicopters, of which four of seven suffered accidents between 2009 and 2015. Edwin Caicedo, president of...
Posted On 05 May 2016
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Chambers file a complaint against the 2×1.000 tax

    The repeal request of the 2×1.000 tax was made yesterday by Francisco Alarcon, Pablo Arosemena, Enrique Pita, presidents of the Chambers of Industry, Commerce and Construction of Guayaquil, respectively.   Wednesday union representatives filed a constitutional...
Posted On 05 May 2016
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Central government is in arrears with autonomous governments

Finance Minister Madeleine Abarca said yesterday that the Government has paid its obligations with the autonomous governments (GAD) until February, altough it still owes March and April. An exception was made with Manabi and Esmeraldas due to the emergency and they payments of...
Posted On 05 May 2016
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Family businesses, a pillar for reconstruction

    When everything goes wrong, the family is always there. That, applied to the economy, it is what analysts and experts presented yesterday at the Second International Family Business Summit in Ecuador, held in the Oro Verde Hotel. And the role of these family...
Posted On 05 May 2016
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The astronomical IESS debt

  The state has a debt of about 11,000 million dollars with the Ecuadorian Institute of Social Security (IESS). This due to the constant purchase of internal indebtedness bonds. According to Deputy Minister of Finance Madeleine Abarca, domestic debt exceeds 12,000 million. Of...
Posted On 05 May 2016
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Rise in fuel prices by the new VAT reform

  Fuel distributors warn of a possible increase in the price of the extra, super and diesel gas between $ 0, 015 and 0.03 per gallon, if the tax reform that envisages the VAT hike from 12 to 14% is approved. This is part of the package of taxes and contributions contained in...
Posted On 05 May 2016
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Policemen convicted for selling passes

  The first group of people were sentence after the ilegal sale of passes in the National Police. Two officials recognized their involvement in the illegal act and underwent an abbreviated procedure. The officers ended up sentenced to eight months and four days in prison....
Posted On 05 May 2016
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Attorney General’s Office summons FEF former president Luis Chiriboga to trial

  The Attorney General’s Office reported this morning that the president of the Ecuadorian Football Federation (FEF), Luis Chiriboga Acosta, has been called to trial as a result of the investigation for alleged money laundering. The prosecutor handling the case, Diana...
Posted On 05 May 2016
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The subsoil of Pedernales moved 7 meters after the earthquake

  According to preliminary data collected by the Geophysical Institute of the National Polytechnic School, its accelerograph network and GPS stations, determined that the earthquake of April 16, 2016 caused a rupture that shifted the ground about seven meters south of the...
Posted On 05 May 2016
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The creation of a trust fund for earthquake depends only on the Government; there is no impediment, says oil expert

  Luis Calero, lawyer and oil expert, said Wednesday that there is no impediment for the creation of a trust fund for the reconstruction of the Manabi and Esmeraldas provinces, the most affected by the earthquake of April 16. It just depends on the government’s...
Posted On 05 May 2016
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