2003 – Page 279

The European Investment Bank (EIB) announced that it will lend 40 million Euros to commercial banks of the DR. The banks involved are Banco Popular, Baninter, BHD and Bancredito. The terms will be set for a 12-year period, including a four-year grace period, at very low interest rates. This financing is the first installment of …

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After announcing a week ago that the government would turn off air conditioners and unnecessary lights in governmental institutions on weekends due to the high costs and lack of supply of fuels worldwide, President Hipolito Mejia announced yesterday further measures to economize fuels. The President explained that he will reduce the amount of SUVs that …

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Central Bank Governor Frank Guerrero and Superintendent of Banks Alberto Atallah jointly warned in a press conference that any institution or person that spreads false rumors that taint the image of any bank will be fined. They referred to the 80th article of the Monetary Law, which deems such circulation of rumors a crime. The …

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The National Competitiveness Council is proposing that the government eliminate and lower certain taxes to improve the business climate and productiveness nationwide. Andres Vanderhorst, executive director of the Council, explained that the proposal is being prepared for its presentation to the President in March. If the Executive Branch approves the fiscal policy modifications, the tax …

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Dominican officials are currently engaged in talks with The Corporation of Ports, Customs, and Free Zones in Dubai in what may become the largest ever single foreign investment in the Dominican Republic, and one of most significant in all of Latin America. Danilo del Rosario, director of the Office for the Promotion of Foreign Investments …

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Edenorte and Edesur, both Union Fenosa power distributors, denied that they owe the government Dominican Electricity Corporation (CDE) RD$1 billion, as Finance Minister Jose Lois Malkum has firmly asserted.  El Caribe newspaper reports that the companies in turn say the government departments owe them RD$560 million for government offices consumption. According to Diario Libre, the …

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The political committee of the Partido de la Liberacion Dominicana (PLD) announced that its primaries will be held on 30 June and that a closed balloting system will be use to guarantee secrecy of votes. The winner of the presidential nomination for the PLD will be announced on 16 August, according to a report in …

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Leading Spanish television station, Antena 3, has sent a group of celebrities to participate in a reality TV show being filmed in Los Haitises National Park. The show is called ?La Isla de los FamoS.O.S.? and will demonstrate the struggles of Spanish celebrities Alejandra Prat, Daniela Cardone, Nani Gait?n, Paola Santoni, Ismael Beiro, Miguel Temprano, …

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Perhaps the most colorful carnival celebration in the Dominican Republic, the La Vega Carnival opens this afternoon with the Raffy Matias merengue band to set the stage. In a break from tradition, the first Saturday parade will be held this year, with subsequent parades scheduled for all the following Sundays leading up to 1, 8, …

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After a meeting with President Mejia yesterday, the leaders of the various transport unions said they would ask their members to maintain their current prices for inter-city travel, despite the recent increases to the cost of fuel. President Mejia offered to include the drivers and transport workers in the new social security package slated to …

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