2006 – Page 348

As from Sunday, electricity prices will “float” and the rates will reflect the price of petroleum. According to El Caribe, bills will increase by 8.6%, and, according to the Superintendent of Electricity, the IMF has pushed for a monthly adjustment in the electricity rates based on the price of oil. Apparently the increase is due …

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Over the long holiday weekend the newspapers carried banner headlines on the serious problems created, apparently, by adulterated regular gasoline. Drivers using premium fuel are not experiencing these problems. The Ministry of Industry and Commerce told reporters late last week that it had contracted outside inspectors to look into the numerous complaints by mechanics and …

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The Listin Diario reports today that REFIDOMSA had begun to pay for damages caused by the adulterated fuel. The newspaper says that it had authorized payment as of yesterday of 101 claims. The Listin Diario says that the average car owner is being refunded about RD$6,000 in repairs due to the fuel problem. The Ministry …

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Yesterday was the first day the 16% VAT (ITBIS) rate was applied to a large number of basic supermarket items, instantly generating reactions of concern from many sectors, as prices increased. The fiscal reform supposedly was to compensate the government for the elimination of the exchange surcharge. But the government decided to instead postpone its …

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The United States has announced that the DR- CAFTA agreement would not be starting on 1 January 2006 as had been previously aimed for by the US Trade Representative. The reasons given were that none of the Central American countries, as well as the Dominican Republic, had completed the technical measures needed to get CAFTA …

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Foreign Relations Minister Carlos Morales Troncoso defines the year’s goals as far as his ministry is concerned as achieving a foreign service that truly serves the nation to advance forward. He favors a permanent dialogue with the international community with the aim of converging in terms of bilateral and multilateral relations. According to Hoy newspaper, …

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The Ministry of Foreign Relations has published the first issue of the Revista Dominicana de Politica Exterior, which is intended to focus on leading foreign affairs issues. Foreign Relations Minister Carlos Morales Troncoso explained that the first issue is dedicated to Haiti. He said that ties with Haiti are the strongest the DR has with …

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Final reports indicate that an unofficial total of 35 people lost their lives in accidents or violence over the New Year’s weekend. Reports carried in Diario Libre say that the National Emergency Commission (CNE) reported 35 deaths and 462 injuries over the weekend. The sad breakdown of the deaths revealed 32 traffic fatalities, and three …

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On Monday the US dollar was selling at RD$35.50, a higher quote compared to closing last week at RD$34.50. According to El Caribe, the last time the US currency reached this level was September 2004. Yesterday, the banks were buying the dollar at RD$34.50 and exchange agencies were buying it for between RD$34.25 and RD$34.90. …

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