2003 – Page 232

Around noon, President Hipolito Mejia announced Frank Guerrero Prats, former Central Bank governor, would replace Hugo Tolentino Dipp, who had resigned the position after holding differences with President Mejia over the country?s stand on the Iraq war. President Mejia sent his finance minister, Jose Lois Malkum to the Central Bank, and appointed economist Felix Calvo …

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All today?s newspapers report on the resignation of Foreign Minister Hugo Tolentino Dipp, who had previously released statements over the conflict in Iraq. His decision to resign was apparently sparked when President Hip?lito Mej?a announced his support of the United States. On Monday, Vice President Milagros Ortiz Bosch revealed to the press that the President …

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In his comments during a seminar sponsored by the American Chamber of Commerce titled ?The Impact of War with Iraq on the Dominican Economy?, US Ambassador Hans Hertell told reporters he felt the conflict would not have any long-lasting effects on the Dominican Republic. Hertell said that while tourism and commercial flights were possible areas …

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A generation shortfall of over 400 MW caused widespread blackouts yesterday, with many plants across the country unable to provide service. Cogentrix in San Pedro de Macoris is still offline, asserting that a letter of credit to pay off the government?s US$30-million debt has yet to be issued. The letter of credit was part of …

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The Malecon Libre project gets off to a big start this Sunday with a gala opening of the ocean-side boulevard to pedestrians, and the performance of very popular stars and band leaders ? Tulile, Pavel Nu?ez, Kinito Mendez and Hector Acosta. Mayor Roberto Salcedo, a former TV host and producer himself, told reporters that his …

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Yesterday the dollar was 25 points lower in the exchange markets and oil was down on the international market, closing at US$27.97. Since this has occurred before the March 28 deadline for fixing next month?s electric bills, there is a possibility that the announced increase might be negated, since the cost of dollars and the …

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The head of the Civil Aviation Board has announced a change in the cost of dollars for airfares, and this has give rise to a RD$893 peso increase in the cost of a ticket to fly to New York City. For instance, a ticket now costs RD$11,875 pesos, for an 8.13% increase. The president of …

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The biggest news of the day is the confirmation of the takeover by Banco del Progreso of the Banco Intercontinental, putting to rest the rumors of an impending movement within the banking sector that had been circulating for at least two weeks. Baninter president, Ramon Baez Figueroa had denied the deal until jointly announcing it …

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The news that Iraqi resistance may prolong the war in that country has apparently forced oil prices up US$1.75 a barrel. Although this represents a significant jump, the current price of oil is still lower than the US$40 barrel-price of just over two weeks ago, as it edged under US$30.00 in New York yesterday. One …

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The Civil Aviation Board has paid its fees to the Federal Aviation Agency of the US and re-calibrated the instrument landing systems at the major airports of the country. According to the Diario Libre, the manager of the Department of Civil Aeronautical Regulations, Gender Castro, said that the government paid a pending debt of US$248,178 …

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