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Representative of workers of Claro rejects reform to Telecommunications Law

Bryan Zambrano, representative of the workers of Claro, said that the draft reform to the Telecommunications Law would be unconstitutional because it infringes their rights, cutting off their profits to 3%, in order to grant 12% to the State.   “We are not a privileged...
Posted On 09 Aug 2014
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Claro and Movistar express a view on salaries and profits

The companies Claro and Movistar responded to the government, defending its revenues, profits and the wages of employees. Juan Manuel Casas, Movistar representative in Ecuador, said that before doing an analysis and legal reforms is necessary to know how much the 2,000 employees...
Posted On 08 Aug 2014
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Banks sign cooperation agreement in ExpoChina 2014

The Guayaquil Bank and the Exim Bank of China, signed a cooperation agreement with the objective of stimulating the trade with Ecuador. The signing took place at the opening of the IV Fair of Trade between China and Latin America, Expo China 2014, which will be developed until...
Posted On 08 Aug 2014
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Regulation for 4×4 system of imports is sent to official register

In 2 weeks the regulation for the 4×4 system of imports will be published in the Official Register, this establishes a rate of $ 42 per purchase made online via courier, said the Coordinating Minister of Production Richard Espinosa. The resolution takes effect 30 days after...
Posted On 07 Aug 2014
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Spain is the EU country that covers most of Ecuadorian exports

The European Union (EU) currently covers about 30% of non-oil exports from Ecuador, being Spain the one that led the purchases in 2013. The bilateral trade with the EU reached U.S. $ 6000 million in 2013 and only from January to May this year sales totaled USD 1,290,300,000. This...
Posted On 04 Aug 2014
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Pacificard and Interdin registered profits of $ 9’476 .53 in the first semester

Credit cards issuers and management companies PacifiCard and Interdin, respectively recorded profits of $ 9’476 .53, 3.72% in the first half of 2014, more than the same period last year ($ 9’136 .59), indicates a report of the Superintendency of Banking and Insurance...
Posted On 04 Aug 2014
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Remittances in Ecuador rose by 5.9%, according to BCE

The remittances that entered to Ecuador in the first quarter of 2014 reached $ 584.4 million, which represented an increase of 5.9% from the same period of last year when the figure was $ 552.2 million, according to the Central Bank of Ecuador (BCE for its Spanish acronym). In...
Posted On 04 Aug 2014
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Ecuador economy grows 4.9%, according to Rafael Correa

The President of Ecuador Rafael Correa, said on August 2 that the country’s economy grew a 4.9% in the first quarter of 2014 despite the global economy’s slowing growth.  In his weekly address, Correa said that despite the international environment that seems more...
Posted On 03 Aug 2014
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Of the 500 thousand production units the 98% belong to Ecuador Mipymes

Luis Muñoz, Undersecretary for Development of Micro, Small and Medium Enterprises (Mipymes for its Spanish acronym) and Handcrafts of the Ministry of Industry and Productivity (MIPRO for its Spanish acronym), informed on July 31 that Mipymes  constitute more than 98% of the 500...
Posted On 01 Aug 2014
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Ecuador’s economy grows by 4.9%

According to the Central Bank of Ecuador, the performance of the non-oil sector drove the growth in the Ecuadorian economy that in the first quarter of this year was 4.9 per cent, compared to the same period of 2013. The final consumption expenditure of households and exports...
Posted On 01 Aug 2014
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