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The unified basic wage increase for 2015 could not be defined in the meeting yesterday in Guayaquil among members of the National Wages Council (Conades for its Spanish acronym). The proposal of workers in this first meeting was to increase the basic salary in a 16% according to...

The rating agency Moody’s upgraded the credit rating yesterday Ecuador, passing of CAA1 to B3, said the Ministry of Finance. The risk rating measures the ability of a country to pay its obligations or debts. The page of Moddy indicates that the rating CAA1 means that...

The Inter-American Development Bank (IDB) approved a credit line of up to USD 300 million for Ecuador, said yesterday the Finance Ministry in a statement. The funds will be used to maintain social spending in times of declining oil prices in international markets, said the...

In 2015, the sugar factory San Carlos and SODERAL plan to start a strategic alliance for $ 12 million to increase their production capacity of anhydrous alcohol 2.8 times more than what is currently produced, which is 7.2 million liters. “Additional areas of cane sugar will...

Today, at 07:00, was approved in the European Parliament the extension of tariff preferences to Ecuador for two years, said the Ecuadorian Federation of Exporters. On December 31, the General System of Preferences Plus (GSP +) expires, which currently allows the entry of national...

Oil prices fell sharply yesterday, depressed by an abundant supply and demand in bad shape. In addition, the Ecuadorian crude type Oriente reached its lowest level since May 2009, trading below $ 50. In New York, a barrel of West Texas Intermediate (WTI), a reference to the...

In tax matters, the country ended the year with significant changes. The Incentives and Prevention of Evasion Act, which passed its first debate in the Assembly yesterday plans to change the behavior of about five sectors of the economy. Within this group is the banana sector....

The Organization of Petroleum Exporting Countries (OPEC) said yesterday that the current state of the oil market does not justify the collapse in oil prices, which could be due to speculation. “We want to know the real reasons that led to such fall in prices,” said...

The International Labour Organization (ILO) announced that the urban unemployment rate in Latin America and the Caribbean had an “atypical” change in 2014, as it continues to go down despite the economic slowdown; however, it warned that the slow growth has begun to...

lOil prices in New York again fell hard on Friday December 12, to a minimum of five and a half years after a cut demand forecasts by the International Energy Agency (IEA). A barrel of “light sweet crude” (WTI, the benchmark crude for Ecuador) for January delivery fell...