Conservative candidate Guillermo Lasso, 65, won the presidential election in South American oil producer Ecuador, and said he would propose new oil deals to private oil companies. Lasso won the run-off against Andres Arauz, 36, who was running on a socialist platform for more social spending. Arauz, a socialist economist and protégé of former left-wing president Rafael Correa, conceded defeat on Monday with more than 95 percent of the votes counted.
Pro-business and free-market proponent Lasso won the presidency in his third time…Pro-Business Conservative Wins Presidential Election In Oil Producer Ecuador
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