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Constitutional Court Investigates Cerveceria Nacional Scandal

The Ecuadorian Constitutional Court (CC) answered to the scandal on its find for the defendant Cerveceria Nacional, which is accused of paying one million dollars to the judges in exchange of a favorable fail. Yesterday, Patricio Pazmiño and six more judges gave a press...
Posted On 09 Feb 2011
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Smart Meters are Being Installed in Guayaquil

Ecuadorian Electricity company began a pilot project in sectors from Puerto Azul to Chongón, which involves the installation of new smart meters which allow to know daily consumption on domestic, commercial or industrial areas, so electricity could be optimize or rationalize....
Posted On 04 Feb 2011
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AmBev Ecuador Will Manufacture Budweiser

Ambev Ecuador performs updates to their facility in Guayaquil to produce the Budweiser beer for the national market. The multinational company that earns over $16 million in Ecuador with Brahma and Zenda will add Budweiser to its product list. In 2008, InBev the owner of AmBev...
Posted On 02 Feb 2011
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Petroecuador will Merge Into Petroamazonas

In a report approved by the board of Petroecuador and Petroamazonas is stated that the two oil companies will merge in a process that will start from April to September, in order to iniciate the process of Petroecuador disappearance as the state fields operator. The measure,...
Posted On 31 Jan 2011
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VAT will be Refunded to Tourists

Today, government officials announced the return of the Value Added Tax (VAT) for tourists who make over $50 purchases of domestic products or host in the country. This measure seeks to increase the national production and tourism. Establishments which want to be part of the...
Posted On 31 Jan 2011
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Ecuador Became the Third Largest Exporter of Flowers in the World

From January to November 2010, Ecuador sold $586 million on flowers, with this the country has become the third largest exporter of the world. Ecuador Flower Exporters Association (Expoflores) announced that the 41.8% of the sales were for the United States, Russia bought 21.2%,...
Posted On 27 Jan 2011
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Five Oil companies will work in Ecuador in 2011

Seven oil companies have left the country in two months. Consortium Gran Colombia, Amazonian Consortium and the company Bellwether did not reached an agreement with the government, as Canadá Grande, Petrobras, EDC, and CNPC, left the country last November. Although the dialogue...
Posted On 25 Jan 2011
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Isaías Brothers could Get Another Nationality

General Attorney, Washington Pesántez, assured that in the coming days, it will be confirm if the Isaías brothers, former owners of Filanbanco Bank, will obtain the Lebanese nationality. William and Roberto Isaías made the alleged change of nationality to evade the process...
Posted On 24 Jan 2011
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Electricity Costs will Rise in February

Electricity Minister, Miguel Calahorrano, sent his letter of resignation, with his administration report, to President Rafael Correa. Calahorrano indicated that the President is considering his resignation, but he said that he did not have any confirmation yet. However government...
Posted On 22 Jan 2011
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The Banana Official Price Came into Effect

Yesterday the official price of bananas came into effect and will run until December 31 of this year. Banana crates can be sold at $5,69, even though the original price settled by the Ministry of Agriculture, Livestock and Fisheries (MAGAP) is $5,50. This is because the 50% of...
Posted On 18 Jan 2011
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