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CNN writes about the libel lawsuit that Ecuador President filed against El Universo, a family-run 89-year-old newspaper. The newspaper says that it has offered to print a correction to the column in question, but President Correa says the time has passed:

Court proceedings began Tuesday in a high-profile libel lawsuit that pits Ecuador’s president against one of the nation’s largest newspapers.

Ecuadorian President Rafael Correa is seeking $80 million in damages from El Universo newspaper and its staff. He also wants a judge to impose three-year prison sentences on the newspaper’s directors and its former opinion editor.

A judge is scheduled to rule Friday in the case, which has drawn international attention from press-freedom advocates, who say Correa aims to crack down on critics by restricting the media.

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Development in the $80 million libel suit that Ecuador President Rafael Correa filed against three individuals at El Universo:

Ecuador’s President Rafael Correa rejected Tuesday an offer from El Universo newspaper to print a correction of a column published in February aimed at ending an $80 million lawsuit against it.

Correa filed the suit in March asking for $80 million in damages and jail time for the newspaper’s three executives and a columnist, alleging “defamatory libel” after Emilio Palacio, El Universo’s opinion page editor, in his column titled “No to lies” referred to Correa as “the dictator” and said the president had ordered security forces to open fire at a hospital in September 2010 during a police unrest.

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The president of the Inter American Press Association says that the policies of Ecuador President Rafael Correa are “intolerant” and that there could be “dictatorial” measures:

“The two great freedom of the press enemies in the Americas are organized crime that kills journalists, intimidates to force self-censorship as has been happening in Colombia for years and now is emerging with significant strength in Mexico, and on the other side intolerant authoritarian governments”, said IAPA president during a meeting in Quito, Ecuador.

“Strangely enough there is a parallelism between organized crime and these authoritarian rulers”, since “both try to control and prevent the flow of information going to the community”, added Marroquin

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The International Business Times covers this developing health issue in Ecuador:

After 21 people died over the weekend from drinking homemade liquor, Ecuador has instituted a three-day, nationwide ban on alcohol sales.

The law took immediate effect after people died from drinking bootleg spirits in the Los Rios province. Another 103 were hospitalized for alcohol poisoning in Los Rios and surrounding areas. The 72-hour temporary ban will give state authorities time to investigate the case.

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Labor statistics in Ecuador:

Ecuador posted a 6.4% unemployment rate in the second quarter 0f 2011, lower than the 7.7% registered in the second quarter one year ago, the National Statistics and Census Institute, or Inec, said Friday.

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Ecuador negotiating with a Brazilian oil company it took control of in 2010:

Ecuador took control of the local operations of Brazil’s Petrobras last year after the company refused to sign a new
service contract that was part of Quito’s push to increase state revenue from its oil sector.

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Ecuador sees higher revenues for oil exports compared to this time in 2010:

Ecuador’s crude oil export revenues totaled $4.72 billion for the first five months of the year, up 31% from $3.59 billion in the same period of 2010, thanks to higher oil prices, the central bank said.

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News about current operations at Ecuador’s state run oil company, Petroecuador:

Ecuador’s expects to secure between $1.5 billion and $2 billion in private investments over the next five years for four mature oil fields, state news Agency Andes reported Friday.

The four state-run Petroecuador oil fields–Shushufindi, Libertador, Auca, and Cuyabeno–produce about 140,000 barrels of oil a day, Andes said.

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