- - Sunday, June 27, 2010


Proposed law gives oil revenue to state

QUITO | 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.

The bill, sent to Congress late Friday, is marked urgent, meaning it must be acted on by the legislature within a month or it automatically becomes law.

The smallest member of OPEC, Ecuador has been trying to renegotiate contracts with private oil companies for two years in a bid to boost state control over the oil sector.

Companies that do not sign contracts governed by the new law will be paid for the investments they have made in the country and their operations will be taken over, President Rafael Correa has warned.


Right-wing leader new prime minister

PRAGUE | Petr Necas has been named the Czech Republic’s new prime minister and will be tasked Monday with forming a deficit-cutting new coalition government, the president announced.

President Vaclav Klaus announced on television that the Civic Democrats leader will be asked to form a center-right government ahead of a parliamentary vote of confidence to be held within 30 days.

Mr. Klaus is to receive Mr. Necas at 10 a.m. Monday. The appointment was widely expected after the president asked Mr. Necas to lead talks on forming a new Cabinet this month following May’s general election.


First democratic vote since independence

CONAKRY | Guineans voted in droves on Sunday in the west African nation’s first democratic election since independence in 1958, hoping to end half a century of military and civilian dictatorships.

Early reports from individual voting stations indicated a massive turnout in the crucial election just nine months after the army massacre of at least 156 opponents of a military junta in a Conakry stadium.

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