In the wake of a severe drought gripping the eastern region of Ecuador, the nation's hydroelectric power production has experienced a significant drop, plummeting from its usual contribution of 90% to a mere 79%. This decline in power production, as reported by the...
Corporación La Favorita is set to unveil its inaugural Megamaxi in Cuenca come mid-November 2023, following an extensive two-year construction effort bolstered by a substantial $35 million investment. Corporación La Favorita’s new Megamaxi is in the El Paraíso sector,...
Ecuador, the global leader in shrimp exports, finds itself in the throes of an escalating crisis as criminal activities plague the industry. Incidents ranging from daring robberies in breeding pools to armed assaults on vessels at sea have become distressingly common. This surge of violence not only jeopardizes the livelihoods of countless workers but also […]
Prosecutor’s Office says witness claimed assassination of Villavicencio was ordered by “Correa government”
The Prosecutor’s Office has concluded its investigation into the tragic murder of presidential candidate Fernando Villavicencio, with its last witness’s testimony revealing how much was paid for the assassination and who was behind it. This significant development was announced by the State Attorney General’s Office on the evening of Sunday, October 8, 2023, across its […]
Well, isn’t this a tale of intrigue! I’m talking about that bombshell dropped last night by the Ecuadorian Prosecutor’s office, claiming they’ve wrapped up the investigation into Fernando Villavicencio’s assassination. Their last witness pointed fingers at the Correa government. Timing couldn’t be more dramatic, just a week before the October 15th run-off election. This revelation […]
Update to: Municipality of Cuenca Seeks Resolution on Controversial Radar Contract Published: Volume 7, Issue 35 In Ambato for example, the Comptroller’s Office uncovered 389 cases of speeding violations due to radar typing errors. Additionally, in Cuenca, there is a lack of supporting documentation for the contractor’s investment. Upon analyzing audits conducted between 2016 and […]
Update to: Colombia’s won’t export electricity to Ecuador, government exploring other options Published: Volume 7, Issue 47 Colombian electricity companies are urging a review of electricity sales to Ecuador amid concerns of an impending energy crisis caused by a prolonged period of drought. The Colombian Association of Electric Power Generators (Acolgen) has called upon the […]
In 2023, the landscape of credit for businesses has undergone a significant transformation, with notable shifts in interest rates and restrictions. This shift has forced companies to explore alternative avenues for funding, including direct investment and participation in the stock market. One of the most prominent changes in the credit market has been the steady […]
The introduction of the digital driver's license marked a significant milestone in Ecuador's efforts to modernize its licensing system. Implemented in January 2021, Ecuador’s digital driver's license is now provided free of charge by the National Transit Agency (ANT)...
The first half of 2023 has witnessed a remarkable surge in remittances from the United States to Ecuador, registering a substantial 17% increase compared to the corresponding period in 2022. The surge in remittances from Ecuadorians living abroad, as reported by the Central Bank of Ecuador, has brought in a total of $1.805 billion between […]
In an effort to fortify the security of Ecuador’s export value chain and safeguard against the perils of drug trafficking, Fedexpor, the Ecuadorian Federation of Exporters, has embarked on a monumental annual investment of $200 million. The Ecuadorian export sector, alarmed by the escalating levels of drug contamination tainting their exportable cargo, recognizes the imperative […]
Cuenca finds itself amid a critical period characterized by a prolonged absence of rainfall. At present, the city has been grappling with a hydrological drought for a staggering 40 days, a duration that significantly complicates its water reserves. This marks one of the lengthiest dry spells witnessed in the past three decades. The longest recorded […]