2008News

Financial free zones a plus

Senator Amilcar Romero said that the Financial Free Zone Bill just passed in Congress and pending enactment by President Fernandez will attract investments for US$650 million, and create 26,000 jobs from now until 2011. The bill paves the way for new investments in financial and banking activities and services, insurance and re-insurance, financial markets and …
2008News

Blackouts reported

Up to 18-hour blackouts are being reported throughout the DR. This time the blackouts are attributed to the passing of Tropical Storm Hanna. Strong winds knocked down power lines, interrupting service. Energy distributor EDE Este announced that 70 circuits were not working as of yesterday, which translated into 138,000 users without power. EDE Este officials …
2008News

The wrong solutions

Manuel Diez Cabral, president of the Association of Industries of the Dominican Republic, said that the agreement for US$460 million in financing by the government to the power distribution companies is just a way of prolonging the critical situation, not resolving it. “Not only does it increase the foreign debt, but it uses treasury funds …
2008News

Where were the consumers?

Lawyer Marisol Vicens writes today in El Caribe that missing from the electricity negotiations, where the government is deciding on its next steps for dealing with blackouts and high electricity costs, were the consumers. Neither industrial nor residential consumers were present, only the government and generation and distribution companies. She criticizes the lack of transparency …
2008News

Bodyguards for senator Guerrero

The Armed Forces assigned a special security force to protect Peravia Senator Wilton Guerrero who gained national attention for denouncing that government, police and judicial officials in the DR are accomplices in drugs trafficking. Guerrero had previously made limited accusations and provided limited proof, but earlier this week the Senator accused the governor of Peravia, …
2008News

Sports update

Yankees star Alex Rodriguez has reached a milestone in his career moving ahead of Mike Schmidt with 549 career homeruns. Rodriguez is now 12th on the all-time sluggers list. Rodriguez also passed Bill Dickey for most homeruns in a Yankee uniform, 206. Rodriguez’s career highlight homerun was also special for another reason. His swat was …