Newsweek International 9/10/2021

This exciting weekly publication offers a clear combination of news, culture and thought-provoking ideas that challenge the smart and inquisitive. Our promise is to put the reporting back into the news.

United Kingdom
Newsweek UK Ltd
51 期號


1 分鐘
the archives

2001 “Once a hated, hunted Utah sect, the Mormons are now a global church worth an estimated $25 billion and claiming 11 million members,” Newsweek wrote a year before Salt Lake City, the home base of The Church of Jesus Christ of Latter-day Saints, hosted the Winter Olympic Games in 2002. Mormons have worked to alter their often misconstrued stereotype, “With an infusion of converts from Latin America, Asia and Africa since the 1950s, it is no longer a white-bread church.” To date, their community has risen to over 16 million worldwide, with 54,000 missionaries. 1970 “With the possible exception of speeding cars, marijuana smoking is probably the most widely committed crime in the U.S. today,” Newsweek reported. Now, after much controversy and continued debate, recreational cannabis is legal in 19 states as…

2 分鐘

The eighth-largest economy in Latin America, Ecuador’s vast oil reserves and abundant natural resources have kept it on a steady growth path over the previous decade. GDP growth averaged 2.8% between 2010 and 2019, and GDP in current US dollars more than doubled between 2005 and 2020, jumping from $41.5 billion to $95.8 billion. The economy was hit hard by the Covid-19 pandemic, with GDP contracting by 7.5% last year, although the country won praise from the World Bank for taking decisive actions to mitigate the worst of the crisis by expanding to social safety net and launching loan moratoria to help businesses survive. Growth is forecast to surge by 9.5 percentage points this year as a result. A recent change in political leadership will also support economic recovery. In May 2021,…

2 分鐘
chaide y chaide

Ecuador’s robust recent population growth has already played an important role in supporting manufacturing activities and consumer demand, and it will continue to do so as the country exits the pandemic. According to the IMF, Ecuador’s population rose by more than 6% between 2016 and 2020 to hit 17.5m and will rise by another 9% between 2021 and 2026 to exceed 19m. This leaves leading domestic mattress manufacturer Chaide y Chaide well-positioned to expand its business. Chaide y Chaide was established in 1975, growing steadily over the decades and reaching an annual production capacity of 3000 mattresses per day at facilities in Quito and Guayaquil. Its 60% market share makes it the leading firm in the industry, and the company’s longevity and successful track record are supported by strong investment in…

3 分鐘

Ecuador’s GDP growth is forecast to rise around 11 percentage points y-o-y in 2021 after a sharp contraction last year, supported by steady credit growth to the private sector. The country’s banking sector had already clocked a strong performance over the previoustwo decades, with non-performing loans plunging from 8.4% of total gross loans in 2002, to just 2.7% in 2019, and decrease modestly in 2020 to 2.6% despite facing severe economic shocks. Domestic credit to the private sector rose considerably over the same period, from just 18.1% of GDP to an all-time high of 46.2% in 2020. With digital banking on the rise in the wake of Covid-19, innovative financial institutions like Produbanco are set to capitalize on new growth opportunities in the post-pandemic era. Produbanco has been active in the…

4 分鐘

As its vaccination campaign progresses steadily, Ecuador’s economic recovery is beginning to take off. This is particularly evident in key industrial sectors. Mining exports are forecast to surge by 74% this year to hit $1.6 billion, while the construction sector is expected to expand by nearly 4% in 2022 as the government channels new investment into infrastructure and housing. Contractors will be scrambling to meet rising demand, meaning the country’s leading equipment supplier, IASA, will play an important role in future economic growth. Founded in 1924 and based in Guayaquil with presence in other 17 locations across the country, IASA supplies and repairs construction, mining, transportation, power generation, and industrial equipment and vehicles for a variety of important industries. For nearly 100 years the company has developed a reputation for integrity…

2 分鐘
consorcio nobis

N obis is a solid and innovative investment management holding committed to the development of our country. It integrates several leading companies in various sectors such as agro-industrial, real estate, commercial, tourism, hotel, port, and mining. As a management principle, it applies the triple impact approach (social, environmental, and financial), maintaining a sustainable guideline in its social practice with the Foundations: Nobis Ecuador and The Nobis Foundation USA. Nobis started its international expansion in 2014 with the integration of “La Universal” as a part of a three-branch enterprise called “BIA”, which included investments in culinary, coffee, confectionery, and sweets, owning companies in several South-American and Central American countries. By 2017, we became partners of DP World. A port company with its headquarters in Dubai that has a presence in 60 countries…