Category

At the opening of the XII International Forum of Bananas 2015, the “Luis Noboa Naranjo” prize was awarded in recognition to entrepreneurs who have boosted the banana production in Ecuador. Businessman Alvaro Noboa, son of Luis Noboa Naranjo, was commissioned to...

Restrictions applied this year by private banking to consumer loans by the effect of the macroeconomic situation, is one of the adversities that, according to the automotive guild, they face to commercialize cars. 60% of vehicle sales are made through loans. This limitation is...

The members of the Commission of Economic Regime of the Assembly expected, since July, that Finance Minister Fausto Herrera explains the economy scenario of this year. Instead, the officer sent a 432 pages report with all the information on revenues and expenditure of the...

With a day apart, the new forecasts of the International Monetary Fund (IMF) were presented yesterday in Lima, which are much more daunting than those of the ECLAC (Tuesday in Santiago) for Ecuador and Latin America and the Caribbean. The fund expects that Ecuador closes this...

Petroecuador dismissed 300 employees last Friday and will continue cutting its staff as part of a plan of adjustments to deal with the effects of low oil prices, reported yesterday the manager of the company, Carlos Pareja Yannuzzelli.   On the deadline for the completion of...

The Government will end the year with more debt. Until December three lines of credit for about 3,000 million are expected.   According to the Coordinator Minister of Economic Policy Patricio Rivera, two operations will grant unrestricted funds. The third, he emphasized, is...

Petroecuador’s general manager Carlos Pareja announced that the public company will dismiss workers that do not cooperate. And so far 301 employees have been dismissed.   “The decline in oil prices has severely impacted all oil companies in the world, and we are no...

“I have given orders to think how to sell the gas stations and franchises of the Petroecuador company.” This provision, that was announced yesterday by President Rafael Correa, during his weekly address, marks a break in the fuel trading policy, since now the official...

Employers and the government see with faith the draft law on public-private partnerships. Both need resources in a scenario of a tough economy. The Executive branch has already done its part. Last week it sent the bill as urgent economic -it must be processed in 30 days or less-...

  According to figures from the Central Bank of Ecuador on the economic growth in the second quarter, much more optimistic results are shown for agriculture and shrimp farming than for fishing. Not only because shrimp grows at a crazy pace, but because fish catches have...