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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...

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...

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...

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...

Last Thursday, Ramón Espinel, Minister of Agriculture, Livestock, Fisheries and Aquaculture; decided that the price of a 41.5-pound banana crate, would be set at $ 5.50 for 2011 (10 cents more than the prior price). The Agriculture Ministry is responsible for sett...

The European Union (EU) suffered a loss from 10% to 15%. According to Eduardo Ledesma, Head of the Banana Exporters Association from Ecuador, the country is at risk due to the difference in its tariffs in contrast to the one managed in Colombia, Peru, and the Central American...

Today, the Cabinet will discuss in Baeza, Napo province, the proposal of President Correa: Reinstate the Special Consumption Tax (SCT) to alcoholic beverages, cigarettes and, cellular calls; as well as the VAT increase on medicines. The director of the Internal Revenue Service...

Vanguardia is facing a new legal dispute after the Labor Ministry imposed a $ 38,000 fine to the magazine because of failure to work commitments with their employees. The ban was imposed in the middle of the other legal problem that the magazine has because of the non-payment of...

At the beginning of the year 2010 the Central Bank of Ecuador estimated that the country would grow 6.8%, but the official GDP (Gross Domestic Product) grew 3.6% according to the chairman of the Central Bank Board, Diego Borja. However, the final GDP growth will be known in...

Today, the Coordinating Minister of Production, Mauricio Peña, said Ecuador will close the 2010 with a trade deficit of about 1,200 million dollars in contrast to the 350 million dollars deficit in 2009. According...