2003 – Page 66

The Metropolitan Transport Authority is in discussion with a private company that could be entrusted with the collection of fines for traffic violations. To increase these revenues, reports Hoy newspaper, the company would increase the present levels of fines, of which it would earn 25%. The penalty for not using a seat belt, for example, …

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One of the alternatives currently being studied to help the government increase its revenues is a tax on foreign exchange transactions. Senate president Jesus Vasquez (PRD-Maria Trinidad Sanchez) and Chamber of Deputies leader Angel Pacheco (PRD-National District) met with President Hipolito Mejia on the matter. President Mejia had urged his party legislators, who form a …

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Diario Libre reports that inflation this year is already at 26.47%, with forecasts that it may reach 35% by December. The good news is that the cost of living somewhat slowed its rate of increase in September, rising by only 1.5% — less than the 3.06% increase of August.

The doubled cost of rice in local markets so far this year is the talk of the day, after prices have moved up at a faster pace in the past weeks. Speaking for the Ministry of Agriculture, its deputy secretary Jesus de los Santos says the recent price hike is due to speculation of wholesalers …

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The National Business Council (CONEP), in its most recent news analysis published in El Caribe on Sunday, approved the unification of the exchange market on the grounds that the government would no longer be able to manipulate it to suit its own purposes. CONEP says the official transactions represent only 12% of the total market, …

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In its most recent report, the Cenantillas economic research center of the Pontificia Universidad Catolica Madre y Maestra (PUCMM) indicates that the present economic difficulties are primarily due to the inappropriate domestic financial and monetary policies implemented by the Mejia government. Cenantillas says that unbridled fiscal expansion caused real public investment to grow 35% in …

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Presidente’s Latin Music Festival will spend more than US$1 million to hire its Latin music celebrities. According to El Caribe, the Cerveceria Nacional Dominicana, brewers of Presidente beer, invested US$1,010,000 (or approximately RD$35 million) to lure its 14 performers. Of the money spent, 95% will be earned by foreigners and 5% by local acts. Remuneration …

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The Listin Diario reported that Miss Universe, Amelia Vega of the Dominican Republic, and Puerto Rican superstar Chayanne hit it off regally when they coincided on the Miami-based TV variety show, "Sabado Gigante". They seemed to connect while dancing to a hit belonging to Vega’s uncle, Juan Luis Guerra’s "La Bilirubina". The Puerto Rican’s admiration …

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Jose Leon Asencio confirmed that E. Leon Jimenes will take over the management of the amphitheater of the Parque del Este, built for the 2003 Pan American Games. In an interview with the Listin Diario, he explained that the idea is to present a continuous array of shows at the arena. Leon feels the amphitheater …

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