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Oil price falls 8 cents and stays at the gates of the psychological barrier of $ 50

  The timely interruption in oil production caused by large fires in Canada and the attacks on oil facilities in Nigeria has underpinned a gradual increase in prices in recent weeks and has allowed to overcome the psychological barrier of $ 50 today. Although this has not...
Posted On 27 May 2016
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Tourism promotion, a challenge

  The government will allocate $ 3.2 million for the second phase of the tourist campaign All You Need is Ecuador. The private sector, however, calls for more investment and incentives. This time, the campaign has a special component: it will be directed mainly to favor...
Posted On 27 May 2016
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Development and construction of the Posorja Port was authorized in a decree

  Through the Executive Decree 1060, President Rafael Correa authorized the development, construction and maintenance of facilities of the Posorja deepwater port (in Guayas). The document, issued last Wednesday, also authorizes the operation of the public service, dredging,...
Posted On 27 May 2016
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Alberto Dahik recommended to continue having the support of the International Monetary Fund

The fact that Ecuador doubles its share in the International Monetary Fund (IMF) to get loans over $ 6 billion and resort to other international bodies such as the CAF, is the first step of the “recipe” for the country’s economic recovery, according to former...
Posted On 27 May 2016
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Climate change, the main threat for the Galapagos Islands, according to the Unesco

  Climate change is “one of the major threats” for our world heritage, such as the Galapagos Islands of Ecuador, the gorillas within the impenetrable Bwindi jungle in Uganda, or the Statue of Liberty in New York.   A report released Thursday, entitled...
Posted On 27 May 2016
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The IRS will charge taxes on companies if shareholders do not appear

  When digging deeper into the newly born Solidaridad Act, more concerns of the employers come to light. One has to do with equity tax or the capital representative rights, in that order, for persons or non-resident companies in the country. The uneasiness is now on the fact...
Posted On 27 May 2016
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14% VAT raises doubts

  The increase of two percentage points of the VAT still raises questions among business owners, five days before the implementation of the measure. The 14% tax hike also causes concern because of the impact it will have on sales. The Solidarity Act, in force since May 20,...
Posted On 27 May 2016
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The three hydroelectric plants the Government of Ecuador will had a cost of USD 1,003,5 million dollars

The government is seeking liquidity with the sale of the new hydroelectric plants as a result of the slowdown of the Ecuadorian economy, low oil prices, lower tax revenues and the effects of the earthquake.   In this context, during the report to the nation, President Rafael...
Posted On 27 May 2016
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CAL sanctions Magali Orellana by uttering “vulgar words” against Gabriela Rivadeneira

  The Council for Legislative Administration (CAL) of the National Assembly sanctioned Assemblywoman Magali Orellana (Pachakutik) for “starring violent incidents in the plenary sessions, and attacking the assembly members or officials of the National Assembly in word...
Posted On 27 May 2016
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Slump in car sales will increase the demand for spare parts in Ecuador

The demand for automotive spare parts in Ecuador will increase as a result of the drop in sales of new cars, according to a report by the Spanish Institute for Foreign Trade (ICEX). The report, called “The market of automotive spare parts in Ecuador 2016,” estimates...
Posted On 27 May 2016
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