...GLOBAL BUSINESS FINANCE ASSIGNMENT ECUADOR INTRODUCTION Ecuador officially the Republic of Ecuador which literally translates to the Republic of the Equator) is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the w It is one of only two countries in South America, along with Chile, that do not have a border with Brazil. The country also includes the Galápagos Islands in the Pacific, about 1,000 kilometers (620 mi) west of the mainland. Ecuador straddles the equator, from which it takes its name, and has an area of 283,561 km2, 109,415 sq ml. Its capital city is Quito, which was declared a World Heritage Site by UNESCO in the 1970s for having the best preserved and least altered historic center in Latin America. The country's largest city is Guayaquil. The historic center of Cuenca, the third largest city in the country, was also declared a World Heritage Site in 1999.. Ecuador is also home to a great variety of species, many of them endemic, like those of the Galápagos islands. This species diversity makes Ecuador one of the seventeen megadiverse countries in the world. Ecuador is a presidential republic and became independent in 1830, after having been part of the Spanish colonial empire and the republic of Gran Colombia. It is a medium-income country with an HDI score of 0.695 (2010), and...
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...Ecuador is one of the twenty-one Spanish speaking countries in the world. It is bordered by Colombia and Peru. The country's original name is Republic of Ecuador. The capitol is Quito and the main language is Spanish. The currency is the US dollar (Nations of the World a Political, Economic, and Business Handbook). The main religion is Roman Catholic which is 95 percent of the population. The national holiday is Independence Day which is on August 10th. The people grow crops such as: bananas, coffee, rice and many others. Natural resources are fish, timber, and petroleum. Japan, Russia, and China are some of Ecuador's trading partners (Infoplease). The main government official is President Rafael Correa Delgado. Rafael was elected into office...
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...REFORM OF THE JUDICIAL SYSTEM IN ECUADOR 1. General Description and explanation of the Ecuadorian Judicial System 1. Corte nacional de justicia (The National Court of Justice) It’s composed of 21 judges who are designed for a period of 9 years and they cannot be re-elected. Functions: 1) To know the appeals in the high court, revision and others resources established by law 2) To develop case law system based on triple reiteration failures. 3) To know the cases initiated against civil servants who enjoy immunity 4) To Introduce law projects related to the system of administration of justice. 2. Cortes provinciales de justicia (Provincial Courts of Justice) There is a Provincial Court in each province of the country. The Judicial Council determines the number of courts and tribunals according to the needs of the population. 3. Consejo de la Judicatura (The Judiciary Council) The Judiciary Council is composed of 9 members and their respective alternates that last for 6years and may not be re-elected. Its conformation tends to be equal between men and women. Functions: 1) To define and implement policies for the improvement and modernization of the judicial system. 2) To know and approve the budget of the judiciary system, with the exception of the autonomous bodies. 3) To direct the selection process of judges and other servants of the judiciary, and their evaluation, promotion and punishment. All processes...
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...ECUADOR PEST Analysis Summary Ecuador is a small country with about 15.8 million people found along the Pacific Coast of South America. The country is located between Colombia and Peru (see Exhibit 1).[1] Ecuador has a relatively long experience with democracy, but it has been marked by frequent cycles of instability. This all ended with the election of President Correa, a left-learning U.S. trained economist, in late 2006. President Correa succeeded in gathering the country to support a referendum and the Constitution was then rewritten. This referendum increased the power of the president and allowed the president to run for two consecutive terms. President Correa was then reelected in April 2009. His new term began in 2013. He is also currently attempting to change the constitution one more time to remove the limit on presidential terms so that he can run for president indefinitely.[2] Ecuador’s economy is mainly dependent on exports including petroleum, bananas, and other agricultural products. More than half of export earnings are derived from its oil resources; this providing approximately two-fifths of the government revenues. [3] Despite the significant changes in Ecuador’s standards of living, and the increase in the income of the poorest of 40% of the population in 8.8%, compared with the 5.8% of the country, there is still a lot to be done to tolerate and enlarge what has been accomplished in regards to the poverty reduction...
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...historians as the liberator of the Americas, he lead an army that liberated Venezuela, Colombia, Peru, Ecuador and Bolivia from the Spanish rule. Bolivar dreamed in having these countries unified as one big country called “The Gran Colombia”. These countries would have shared a centralized government and would have had the city of Bogota as its capital. In this article I want to explore the reasons why he could not achieve this dream of unifying these countries and if he had what economic and social impact this unification would had have in today’s economy. Simon Bolivar was born in Caracas; Venezuela on the 24th of July 1783 his family was wealthy and had close relationships to Spain. Bolivar was educated in Spain and came back to Venezuela with his young wife who died shortly after her arrival in Venezuela. Bolivar never married again. Bolivar has been underrated as a general and tactician, but is safe to say that he is probably in the top 50 Generals in World History. Simon Bolivar began his campaign of independence from Spain in 1810 with the independence of Venezuela, and then it followed Colombia, Peru, Ecuador and Bolivia. It is important to note that some of these countries were in fact a part of the “viceroyalty of Nueva Granada”, and that Bolivar just wanted to maintain these territories united. The first indication was right after the battle of Boyacá where the “constitution of Cucuta “ was put into effect (1821) one of the element points was “The Cucuta political arrangement...
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...and are within an hour drive from Quito, the capital of Ecuador. The altitude is around 10,000 feet up and the rose farms are at the foot of volcanoes that rise more than 20,000 feet. The rose fields benefit from fertile soil, high altitude, and the intense sunlight that lasts up to 12 hours each day. The location close to the equator makes an ideal growing condition and the roses thrive. They have vibrant color and large heads. They are prime roses and fetch a premium price. Because of the location and conditions, the roses flower year round. All these are the basis of Ecuador’s comparative advantage in the production of roses. From the importation of Ecuadorean roses, people, company or organization who handle this business in of New York city of the United States and London city of Europe. Because they are selling the roses which are fresh, vibrant colored, including 10 different reds, from bleeding heart crimson to a rosy lover’s blush, for premium prices to people who lives in their city. Then sellers can get profit from differentiation between income which they got from selling and money which paid to Ecuadorean rose supplier. In the meantime, sellers who sell roses from their own country will be lost because they could not get and do business with fresh and fancy roses like Ecuadorean roses. Absolutely it is more beneficial both seller and demander as well supplier. Rose export industry benefits Ecuador. Ecuador is now the world’s fourth-largest producers of loses....
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...spanishSenora Cressman Spanish 4/Mod January 13 2011 Famous People and Festivals The country of Bolivia is named after Simon Bolivar. Though he was not born in Bolivia, but born in Venezuela, he was Bolivia's main political leader. He was one of Bolivia's founding-fathers and served as Bolivia's president from August 12, 1825. December 29, 1825. He also played an important role in helping other South American countries gain independence from Spain and served as president in other countries of South America. His parents were Colonel Juan Vicente Bolívar y Ponte, and Concepción Palacios Blanco. He had two older sisters and a brother: María Antonia, Juana and Juan Vicente. There was another girl, María del Carmen, who died at birth. Before he was three years old, Simón lost his father, who passed away in January of 1786. He played an important role in the liberation of a large part of South America from Spanish rule in the 19th century. On his visit to Europe, Bolivar got the opportunity to witness the coronation of Napoleon. This incident sparked the idea of revolution in his mind, so on returning home, he joined the Venezuelan revolution. He was barely in his 20s then. His victory spree came to an abrupt halt, when his forces were defeated by the Royalist army in 1815, and he was exiled to Jamaica. Eventually, a victory in Peru in 1824, led to the end of Spanish rule in the continent, making Bolivar a powerful force in Latin America. Bolivar died due to tuberculosis...
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...Culture of Ecuador and the Glapagos Islands Meghan Lazor Ecuador is South America’s second smallest country and is regarded as one of the most geographically and ethnically diverse countries on the continent. The Galapagos Islands are part of Ecuador with a small population of only 10,000 people. Both culture-rich countries are largely uncharted, making them an exciting and adventurous place to visit. Ecuador is located in the northwest corner of South America with the Galapagos Islands to the west. The equator runs across the country which is what gave Ecuador its name. The variation in climate transfers into the lifestyle of its people causing a large range of cultures throughout the country. The diversity in geography for both countries affects how and where the country is inhabited. In Ecuador main cities can sit alone in the center of large rain forests making travel from one city to another often dangerous on roads for hours at a time. Sometimes native tribes may reside in the forests that surrounded the civilized lands. These indigenous people live in wooden shacks with no electric or running water and will occasionally walk the city streets. Ecuador can be split up into four parts, geographically; the Costa (coast), the Sierra (highlands), and El Oriente (the east; which includes the Amazonic region). The Galápagos Islands, or Archipiélago de Colón, also belong to Ecuador.(Encyclopedia, 103) The official language of Ecuador is Spanish, but fortunately in tourists...
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...Exchange Rate * The currency was changed in 2000 in Ecuador to use US dollar. Five Major Tourists Sites * Mitad Del Mundo- 30-meter-tall monument * The Galapagos Islands- Beautiful Beaches * Amazonia- It has Rainforests * Cuenca- Historical area * Cotoeaxi- It is a stratovolcano located near Quito. Sources: http://www.factmonster.com/ipka/A0107479.html http://www.historyofnations.net/southamerica/ecuador.html Ecuador By: Carrie Large Ecuador is divided into three continental regions: the Costa (coast), Sierra (mountains), and Oriente (east). Also the Galapagos Island is considered Ecuador. Each region has different factors that affect its climate. The Costa is influenced by the warm or cool ocean currents. The Sierra changes because the altitude. The Oriente climate slightly changes from the other two regions. Climate in the Galápagos Islands is by the ocean currents and affected by altitude. * When traveling to Ecuador the different regions require different clothing. The Costa and Galapagos Islands requires tropical clothing. * The Sierra requires warm clothing because it is a mountainous area. * The Oriente requires both depending on the weather that day. Geography and Climate The best way to get around * Chifles (Plantain chips) about 1.10 * Arroz con Menestra y Carne (Beef with rice and beans) 4-10 $ * Bollos de Pescado (Fish and peanut wrapped in banana leaves) It ranges * Muchines de Yuca (Stuffed...
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...Complete the case studies for this week. Review the case studies below in the textbook. Prepare a one-page report for each of the following case studies: * Case Study: Martha Stewart’s Lost Reputation, pg. 34 * Case Study: Texaco: The Ecuador Issue, pg. 41 * Case Study: Where Were the Accountants?, pg. 44 Ethics Case: Martha Stewart’s Lost Reputation In June 2002, Martha Stewart began to wrestle with allegations that she had improperly used inside information to sell a stock investment to an unsuspecting investing public. That was when her personal friend Sam Waksal was defending himself against Securities and Exchange Commission (SEC) allegations that he had tipped off his family members so they could sell their shares of ImClone Systems Inc. (ImClone) just before other investors learned that ImClone’s fortunes were about to take a dive. Observers presumed that Martha was also tipped off and, even though she proclaimed her innocence, the rumors would not go away. On TV daily as the reigning guru of homemaking, Martha is the multi-millionaire proprietor, president and driving force of Martha Stewart Living Omnimedia Inc. (MSO), of which, on March 18, 2002, she owned 30,713,475 (62.6 percent1) of the class A, and 30,619,375 (100 percent) of the class B shares. On December 27, 2001, Martha’s Class A and Class B shares were worth approximately $17 each, so on paper Martha’s MSO class A shares alone were worth over $500 million. Class B shares are convertible into...
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...DE LENGUA Y LITERATURA 10 de Agosto de 1809. El 10 de agosto de 1809, es una fecha memorable para los ecuatorianos al recordar el Primer Grito de la Independencia. Esta Declaración, marcó un hito en la historia del Ecuador ya que desde aquí el pais empezo una nueva era de libertad lo que trajo nuevos cambios politicos, sociales y económicos. Cuando los criollos se declararon en contra del presidente Ruiz de Castilla, estos crearon un nuevo gobierno lo que trajo un gran cambio politico del pais: la primera constitucion ecuatoriana. El 17 de agosto en la Catedral de Quito se hizo publico el cambio de gobierno mediante un acto politico-religioso en el que todo el publico presente juro hacer todo bien y lo mejor por el Pais y la Constitucion. Sim embargo, se conoce que el estado ecuatoriano comienza a existir desde 1830 luego de la disolucion de la gran Colombia cuando en Riobamba se firmó la declaración el mismo año. Sin embargo la constitución del 10 de Agosto es considera el indicio ya que a partir de ahí el Ecuador entro en un proceso de 21 años para convertirse en la Republica del Ecuador. Este tipo de cambios hizo que el Ecuador de un gran paso para los sistemas políticos que tenemos en la actualidad, ya que a partir de los sucesos en el Ecuador comenzó a vivir a una época modernidad, eliminando los sistemas de Gobierno basados en tradición, como la monarquía de derecho divino la cual fue abolida y se crearon nuevas leyes basadas en la razón y en lo que el pueblo...
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...CRECIMIENTO DE LAS CIUDADES EN EL ECUADOR …. ¿ESTAMOS PREPARADOS PARA EL FUTURO ? Javier Salazar Gallardo Es innegable el crecimiento acelerado que tienen hoy en día las ciudades en todo el mundo. Cada día miles de personas dejan los campos para vivir en asentamientos urbanos, así como también, cada día más personas se integran al mundo laboral, al comercio que está concentrado en las ciudades donde se reúne una gran población que requiere productos o servicios. Como consecuencia, las ciudades crecen y por lo tanto aumentan sus necesidades de energía, agua, servicios básicos, etc. Una ciudad que sobrepasa los 10 millones de habitantes se conoce como megaciudad. Si bien es cierto de acuerdo a las estadísticas de crecimiento de la población ecuatoriana, ninguna ciudad de nuestro país alcanzará la categoría de megaciudad, estas si crecerán bastante y alcanzarán niveles en los cuales se presenten a menor escala los mismos problemas que presentarán las grandes ciudades del mundo. Debemos por tanto hacernos la pregunta: ¿Estamos preparados para enfrentar este fenómeno de crecimiento urbano en el futuro? De acuerdo a un informe publicado por las Naciones Unidas, En 1950, una tercera parte de la población mundial vivía en ciudades. Sólo 50 años después, esta cifra aumentó a la mitad y continuará aumentando a dos tercios, o 6 000 millones de personas, en 2050. Estas cifras muestran una realidad en todo el planeta: en las ciudades reside actualmente más de la mitad de la población...
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...The Inca people rules an empire along the pacific coast it was also the largest empire in the pre-columbian America. The Inca peoples official language was quechua, and they called their empire tawantinsuyu. The empire was divided into four parts which intersected at the capital. The empire reached its peak after the conquests of emperor Huayna capac. He reigned from 1493 until around 1527 when died of smallpox. At its peak the empire extended from the border of Ecuador to about 50 miles south of santiago chile. The Inca empire originated at the city of cuzco which now is called peru. It started out a small state until it rapidly expanded into a vast empire during the 15th century. While the Inca did not develop what we would consider a formal...
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...Five characteristics defined the physical environment of the Inca Empire; high elevation, low temperature, low precipitation, steep mountains and poor vegetation. All of these characteristics influenced how the Incas lived in every way: what they ate, how they managed food and living conditions, and ways of surviving. The Incas developed methods and systems like the Chaquis system, which helped with communication, and system of warehouses and granaries to evenly distribute food throughout the empire. The Inca Empire was located at very high altitude on the Andes Mountains. As a result of this high altitude, the level of oxygen and the temperature was very low. Vegetation was scarce and the trees very short because of the cold and the low level of oxygen. At the level of Tierra Templada, which included many small trees and shrubs, the temperature was cold. There was also very little rain in the Inca Empire; less than 2 inches of rain a year; the land was as almost as dry as any desert. The mountains were very steep and hard to climb up and down. The only crop they could plant on these conditions was the potato. The potato was a very important staple food for the Incas. Along with the potatoes, the Incas ate cuy, which was guinea pig meat. Since the mountains were very steep, there wasn’t much flat land to grow potatoes. So, the Incas created a method of terrace farming where they would make large steps to grow food on. The Incas also built roads out of stone to be able to walk...
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...records in the Pre-Columbian America. Its North Chico civilization, for instance, is one of the most ancient communities in the world. Adding to that, the Incan Empire used to be the most immense state within Latin America in the 1400s. This essay will discuss three aspects of Peru's culture that would hopefully encourage you go there. Peru celebrates their independence, just like the United States. Fiesta Patrias, which takes place on July 28th, and 29, honors Simon Bolivar as a national hero. Many streets and school bear his name, for he assisted significantly in freeing Peru from Spanish grasp. However, he did not only liberate Peru. This man was revered and distinguished throughout Latin America. Other countries he made free include Ecuador and Venezuela. The holiday is celebrated through food, music, costumes, and flags that are displayed everywhere. As a result, this national day in Peru is just like the one here in the United States. Every nation in the world has its own unique dance, and in this case, Peru’s most popular dance is called La Marinera. This is a romantic and elegant dance in which white handkerchiefs are used as props. Boys wear a poncho and a hat, and on the other hand, females wear a simple and typical regional dress. There is even an annual event in the Monsiche that takes place in January with participation of dancers as young as three or four. In this dance, both dancers twirl around in circles. The female uses her handkerchief to attract the male,...
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