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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...

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...

Claro and Movistar would be the two mobile phone companies that according to the amendment of the Telecommunications Law would be required to pay 3% of their profits to their workers and 12% to the state, said yesterday Jaime Guerrero, Minister of Telecommunications. Guerrero...

Last July 15, the National Electricity Council (Conelec for its Spanish acronym) approved the resolution 058-14, which modifies the tariff schedule for utilities and authorizes the coming in force of the grant for the Efficient Cooking Program (PEC for its Spanish acronym) from...

With regard to the agreement with the European Union, Ecuador covenanted that the public contracts performed by the central state bodies, such as ministries, will have a threshold of economic protection (i.e. reserve for national enterprises), lower than sub-central entities...

According to the Superintendency of Banks, until the end of 2013, the financial system recorded 2.4 million borrowers, which corresponds to 24% of the number of customers who have a savings or checking account, or some other type of deposit. Most debtors are found in private...

The board of the Latin American Reserve Fund (FLAR for its Spanish acronym) has approved a loan to support the Balance of Payments for an amount of $ 617.58 million for Ecuador. The operation was authorized at an extraordinary session of the organism earlier this month, whichwill...

Of the 52 brands of vehicles that were sold in 2013 in Ecuador, 21 correspond to Asian countries like China, Japan, South Korea and India, according to figures from the Association of Automotive Enterprises of Ecuador (Aeade for its Spanish acronym). This means that about the 40%...

Through a statement, the Bank of the Ecuadorian Institute of Social Security (Biess for its Spanish acronym) announced this week that it will open a new Operations Centre in the largest headquarters in Guayaquil. According to the company, the opening of new facilities corresponds...

At the end of the negotiations for the trade agreement between Ecuador and the European Union, the elimination of tariffs for European vehicles was determined to start from 2016 and will take additional seven years. The Government added that what is sought with that clearing...