2003 – Page 289

El Caribe newspaper reports that the government has told the two Spanish electricity distribution companies, Edenorte and Edesur, that under no circumstances will it allow their supposed financial problems to serve as an excuse for the distributors to pressure or demand injections of capital from the state. The government, a 50.01 percent owner of the …

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Last month the Central Bank?s current account for cash advances to financial institutions increased by more than 100 percent compared to the month of November, reports Hoy newspaper. In November, the balance for the account was RD$2.8 billion, rising to RD$5.6 billion in December. The variance between November and December represents the highest increase ever …

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The Central Bank has issued RD$5 billion in certificates of deposit in the past four months and intends to auction an additional RD$2 billion on Monday. The interest rate for the certificates, however, has yet to be revealed. Ostensibly, the plan is to freeze the money in the Central Bank and in so doing control …

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JPMorgan is wasting no time with the new sovereign bonds. The Sovereign Bond Law was ratified by the government yesterday, and already JPMorgan, the foremost fiscal agency involved with the bond placement, is promoting a tentative road show scheduled for the coming week.  The information available is:  JPMorgan Leads Issuer: Dominican Republic (Ba2/BB-) Structure: RegS/144A …

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This morning, with the removal of the ceiling price of 20.65, all banks and exchange rate houses were buying dollars at rates between RD$22-23. The sell-rate ceiling price of RD$20.80 was also abolished.

The growing concern for the water supply shortage in the major cities and highly populated areas is prompting grand efforts to modify the wasteful water consumption habits of the general population. Nevertheless, these attempts seem ineffectual considering the revelation that only 60 percent of the water distributed by the CAASD, Santo Domingo?s water and sewage …

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Official tourism statistics for November and December released yesterday show that travel has rebounded from last year?s decline. The increase surpassed expectations, according to official sources. It is worthy noting that figures for November and December 2001 were especially dismal following the 9/11 terrorist attacks in the US, however travel in December 2002 was up …

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Citizens of Santiago were concerned yesterday after a shooting occurred at midnight on the premises of the Plaza Internacional in an upscale area of the nation?s second-largest city. The gunman, Jose Santana, took the life of Henry Torres and injured Franklin Veloz. When questioned, Santana maintained that he acted in self-defense after the two men …

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New York City Columbia University professor, Dr. Roberto Valenzuela, and his colleague Dominican urologist, Dr. Abel Gonzalez, will be participating in a national education campaign on impotence. The physicians hope to raise awareness of the causes and treatments of impotence and help open dialogue between Dominican men and women to overcome this prevalent but highly …

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The Aguilas Cibae?as staged a late rally to keep pace with victorious Estrellas as the two teams have distanced themselves from Escogido and the Gigantes setting the stage for the finals in the Dominican Winter League Championship. Miguel Tejada hit two home runs for the Aguilas, the second one tying the game at six before …

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