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Telefónica loses market share in almost all the countries where it operates, including Ecuador

Despite registering an increase in access to mobile customers, Telefónica lost some space in its markets, except Chile and Venezuela. In November 2023, the Government of Ecuador signed the temporary extension of the concession contract for Otecel, a subsidiary of the...
Posted On 19 Mar 2024
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Pitahaya, a ‘controversial’ fruit for the environment, breaks export records in Ecuador

Pitahaya exports from Ecuador broke a new record in 2023, reaching USD 171.7 million in turnover, said the Ministry of Production. The pitahaya, that exotic fruit with digestive properties, has had a good harvest in Ecuador and with the agreement with China, a boom is expected....
Posted On 15 Mar 2024
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The first electric bus manufactured in Ecuador will provide services in Galapagos

The Ambateño company Miral Mobility invested an amount close to USD 4 million in the project to manufacture electric buses. The bus manufacturing company Miral Mobility launched the first electric bus manufactured in Ecuador to the Ecuadorian market on March 14, in the city of...
Posted On 15 Mar 2024
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Gloria Foods, from Peru, acquires 100% of Ecuajugos SA, from Nestlé

The operation between the companies includes the purchase of local brands La Vaquita, Yogu Yogu, Natura, Cereavena and Huesitos. The Superintendence of Economic Competition must still approve the closure of the business. The Peruvian company Gloria Foods reported in a statement,...
Posted On 12 Mar 2024
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The country risk falls to 1,321 points, what does it mean for Ecuador?

The country risk fell again and stood at 1,321 points, the lowest figure of the Noboa Government. What does this reduction mean for the country? Ecuador’s country risk continues to decline. This indicator closed on March 4, 2024 at 1,321 points, which means a drop of more...
Posted On 05 Mar 2024
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President Noboa presents his reforms in Canada to attract mining investment

Noboa said in Canada that mining is an engine of the country’s development. The Minister of Energy said that they are working to reopen the mining registry. President Daniel Noboa presented on March 4, 2024 at the PDAC mining fair in Toronto, the reforms he is adopting to...
Posted On 04 Mar 2024
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Ecuador could pay USD 2,426 million in arbitrations in 2024, the highest bill would be with Chevron

Ecuador could have to make a payment in favor of Chevron for USD 2,000 million, after losing an arbitration against it. The Proforma presented by President Daniel Noboa in the National Assembly warns of possible payment of USD 2,426 million in international arbitrations. The...
Posted On 01 Mar 2024
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New well in the Sacha field will produce about 700 barrels of oil per day

Petroecuador began drilling well 11 of a total of 15 scheduled on the Sacha 490 platform, located in the province of Orellana. The state company Petroecuador estimated a production of 700 barrels per day in the SCHAQ-605 well, located in the Sacha field, in the province of...
Posted On 28 Feb 2024
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Ecuador will begin negotiations for a trade agreement with the Arab Emirates

The Government of the United Arab Emirates is interested in investing in renewable energy and in the creation of a regional distribution hub in Ecuador. The Governments of Ecuador and the United Arab Emirates agreed to begin negotiations on a trade agreement, reported the...
Posted On 28 Feb 2024
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Government and companies seek financing in a stagnant stock market

The stagnation of the amount traded in the Ecuadorian stock market responds to a greater perception of risk in the country, which has led to investment restrictions. After a couple of years of good results, the stock market’s forecast for its performance for the last year...
Posted On 27 Feb 2024
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