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In the coming days different amendments to the Regulation of implementation of the Law on Production Incentives will be made, said yesterday the Director of the Internal Revenue Service (SRI), Ximena Amoroso. The reforms “are of clarifying character more than anything,...

The mobile operators Otecel (Movistar) and Conecel (Claro) expect to sign today with the Ecuadorian government contracts to provide the 4G technology, said the vice presidency through a statement. On February 2, both private enterprises closed negotiations with the government for...

The government would define this week the multilateral measures that would replace exchange safeguards that are currently applied  to imported products from Colombia and Peru. The Minister of Production, Richard Espinosa, said: “we will go from bilateral to multilateral...

Pacifico and Pichincha banks are part of a strategic alliance with the General Attorney whose purpose is to prevent the entry of money from illicit transactions (money laundering or legitimization of illegal capital) to the national financial system. Experts from both...

The Committee of Foreign Trade (Comex) decided to eliminate tariffs and quotas for imports of electric cars as well as for the manufacture of CKD (bits and pieces). As a result, between $ 30,000 and $ 40,000 would be the cost of an electric vehicle in Ecuador, said...

The Russian Energy Minister Alexandre Novak said that Russia, Venezuela and Ecuador met yesterday in Moscow to discuss how to stabilize the price of oil, whose fall is currently affecting their economies. According to international information, the meeting would have included...

Business representatives reacted with concern yesterday after President Rafael Correa indicated on Tuesday in Guayaquil that the continuity of the country in the Andean Community (CAN) should be “seriously considered.”  Blasco Peñaherrera, head of the Chamber of...

Representatives of Ecuador and Belarus inaugurated yesterday in Quito, the II Meeting of the Commission on Trade and Ecuadorian-Belarusian Economic Cooperation, in which bilateral commitments will be reviewed in different areas in order to seek cooperation for a complementary...

The Ecuadorian Institute for Educational Loans and Scholarships (IECE fo its Spanish acronym) made effective yesterday the delivery of its portfolio to Banco del Pacifico for the administration of the educational loans. The portfolio of IECE is USD 353 million, which correspond...

This February 9 the Minister of Industries, Ramiro González, announced that by a presidential decree the ‘drawback’ mechanism will beformalized, the tax refunds to foreign trade, ie, tariffs and tax burdens for exporters. According to President Rafael Correa in his...