Ecuador News

QUITO, Ecuador : Ecuador's dollarized economy has seen prices jump by more than 8 percent over the past year, roughly double the rate for the United States, officials said Thursday.

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Quito, May 9 New discoveries over the Colombian bombing of northern Ecuador show ineffectiveness of diplomatic efforts to solve the bilateral crisis.

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Madrid, May 11 Ecuadorian President Rafael Correa will start Monday in Spain a European tour that will also take him to France and Belgium.

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President Rafael Correa said Saturday he has 'no confidence' in the World Bank arbitration branch that is hearing U.S. oil company Occidental's lawsuit against Ecuador.

Ecuador 'handed over its sovereignty' when it signed international accords binding it to the bank's International Center for Settlement of Investment Disputes, Correa said during his weekly radio address. The ICSID is an autonomous court established to resolve investment disputes.

Los Angeles-based Occidental Petroleum Corp. is seeking $1 billion in damages from Ecuador, alleging its property was confiscated illegally when the Andean nation canceled its operating contract in May 2006. Read more

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Ecuador's dollarized economy has seen prices jump by more than 8 percent over the past year, roughly double the rate for the United States, officials said Thursday.

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Ecuador's Defense Minister says there are "well-founded" reasons to believe the U.S. aided Colombia's air force in a cross-border raid on a rebel camp in Ecuador's jungle last March.

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QUITO, ECUADOR - This Mother's Day, the flowers you send to your mother were very likely grown in South America -- and they may have been picked or bundled by a mother there.

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