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Ecuador will increase its production of oil

The Ecuadorian Oil Ministry reported yesterday that oil production will reach the 550.000 barrels per day (bpd) at the end of this year, due to the good results of the operation of the fields and the achievement of the investment objectives from the private oil companies. The...
Posted On 20 Nov 2013
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New regulations for income tax-free objects

Juan Carlos Santillan, head of customs process, revealed that the arrival of migrants has been lower than in previous periods at the same time. He said most come from Spain, Italy and the United States and reported that this year there are new customs controls for entering...
Posted On 18 Nov 2013
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Superintendency of banks calls for control in year end expending

On the occasion of the festivities of Christmas and new year’s Eve, the Superintendency of banks and insurance of Ecuador (SBS) is developing the campaign of financial culture, which includes various presentations, in order to create awareness in Ecuadorian citizens on...
Posted On 13 Nov 2013
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Correa dismisses the possibility to return to the sucre, but favors the use of a regional currency

During an interview with the news agency AFP in Paris, the Ecuadorian President, Rafael Correa, advocated for the creation of a regional currency, as well as a new financial architecture that allows Latin America to have its own Bank of the South and its own reserves Fund....
Posted On 08 Nov 2013
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The SGP Plus achieves first consensus

The mechanism that allows the entry of products to the European Union (EU) with tariff preferences, called SGP Plus, passed the first test for the extension until December of 2014. It  occurred yesterday in Brussels when the European Parliament’s International Trade...
Posted On 06 Nov 2013
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Inflation in October was 0.41%

In October 2013, the index of prices to the consumer (IPC, for its acronym in spanish) recorded the following variations: 0.41% monthly inflation; 2.04 the annual % and 2.09% the accumulated; whereas for the same month in 2012 was 0.09% monthly inflation; 4.94% the annual and...
Posted On 06 Nov 2013
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Induction gas cookers will have a price soon

The induction cookers, to replace the gas within the government’s project that targets the subsidy Liquefied Petroleum Gas (LPG) in 2016, would be revealed on Wednesday, November 6, during a meeting between the Minister of Industries, Ramiro Gonzalez, and business...
Posted On 05 Nov 2013
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Central Bank regulates interest in arreas

The directory of the Ecuadorian Central Ecuador (BCE, for its acronym in spanish) issued the regulation 047-2013 which will regulate the  rates of interest in arreas of credits in the financial system of the country, which shall enter into force on 3 December. This regulation is...
Posted On 05 Nov 2013
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The draft budget arrived to the Assembly

The Finance Minister, Fausto Herrera, announced the arrival of the document to the Assembly, which provides a budget of $ 34’300,630,000 for 2014. The figure represents 5.97% more than the total initial budget recently approved in 2013, of $ 32’366,800,000. The Ministry reported...
Posted On 02 Nov 2013
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Income taxes in Ecuador will increase by 8%

The scheme hopes to increase $ 14,950 million for taxes in 2014. This was revealed by the figures shown on last weekend by the Ecuadorian President Rafael Correa during his Saturday. This amount exceeds by $ 1,208 million more than last year ($ 13,742 million), according to the...
Posted On 01 Nov 2013
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