An Australian corporation is interested in investing in Ecuador:
AUSTRALIA’S South American Iron and Steel Corp is interested in investing about $1 billion in Ecuador over the next five years.
Construction will begin next month on a dam that will provide Ecuador with 35% of its energy needs:
Chinese bank will provide funding for the mega-dam, set to supply Ecuador with 35 per cent of its energy needs. Chinese companies will also build the project. However, it has drawn criticism for its technical and financial aspects, seen as too favourable to Beijing.
Ecuador has been trying to renegotiate its contracts with oil companies:
Ecuador wants 25 percent of gross income from the country’s key oil sector to go to the state, according to a law proposed by the government aimed at increasing revenue from natural resources.
Another post on Amazon Watch and the Chevron Ecuador case:
While Amazon Watch and Steven Donziger yell and scream about American Chevron in an attempt to extort billions while claiming to represent Ecuador’s “indigenous people,” Ecuador President Rafael Correa is just one signed contract away from that country successfully nationalizing revenue from its oil industry.
Ecuador and other nations, uncluding Bolivia and Cuba, will meet at the ALBA Summit:
Ecuador has pointed out the importance of the Summit of the Bolivarian Alliance of the Peoples of Our America (ALBA) and the Treaty of Commerce of the Peoples (TCP) in Otavalo next Thursday and Friday.
This new blog post on the San Francisco Chronicle’s website discusses Steven Donziger’s role in the trial in Ecuador and the fabricated “independent court expert” report:
In the never-ending Chevron Ecuador legal battle, Laywer Steven Donziger (the head of a decade-long battle to extort billions from Chevron for environmental damage caused by the Ecuador-owned Petroecuador and Ecuador President Rafael Correa’s policy of allowing oil production in the Amazon, while having kicked out American oil companies) and the Amazon Watch organization yesterday called for additional damages against Chevron in Ecuador, citing alleged sabotage of the court proceedings by Chevron.
Ecuador’s current political situation making foreign investors weary; 61% say situation in Ecuador has deteriorated:
Business confidence in Ecuador dropped 3.5% in May compared with the previous month, according to a report released by Deloitte & Touche.
South America seeing rise of middle class, demand for cars:
“General Motors yesterday said it would create a new division for South America, headquartered in São Paulo, to meet rising demand for cars in the region.”
