2008 – Page 168

Representatives of the Ministry of Industry and Commerce, the small-scale business sector represented by the Dominican Confederation of the Small and Medium-Sized Companies (Codopyme) and legislators reached an agreement yesterday to pass the small business bill. Industry & Commerce Minister Melanio Paredes and the board of Copdopyme visited the presidents of the Senate and Chamber …

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The DR has made a name for itself in beauty salons in places with Dominican immigrant communities. Now the local products used in the salons are finding acceptance in export markets, too. The DR Center for Export and Investment (CEI-RD) reported that in 2007, US$8.7 million worth of beauty products was exported. From Jan-May of …

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The trade deficit with the US has doubled. According to Department of Commerce statistics, during the first five months of the year Dominican exports to the US fell by US$94 million, while purchases were up US$500 million. Hoy reports that this means the trade deficit with the US doubled from January to May 2008. Exports …

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Ester Jimenez has been living in Villa Mella for eight years. She purchased her apartment for RD$700,000 in 2000, and now her cousin Minerva wants to live near her, but Minerva will need three times that amount. Like many others, Minerva is finding that it is practically impossible to purchase a home. Price increases from …

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The sale of vehicles that consume a lot of fuel has fallen dramatically in the Dominican Republic. Dealers are reporting a decline of between 80 and 85% in the sale of the large SUVs that were so popular just a year or so ago. Spokespersons for auto dealers said that in June SUV sales fell …

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A court in La Vega has sentenced a Catholic priest to 15 years in jail for raping five college students in Moca. The priest, Ramon Sanchez Ramos was arrested after an O&M student accused him of rape. She had accepted a lift home from the priest on his motorcycle at night, and reported that instead …

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The president of the Duarte Institute said that today, 170 years after the founding of the secret society called “La Trinitaria” the values and ideals of the society are still viable in today’s society, and offer an alternative to the principal social problems that affect the Dominican Republic. Professor Jose Joaquin Perez Savinon called on …

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SuperPola is offering 35% off fruits and vegetables. La Cadena supermarket chain is advertising salad tomatoes for RD$18.95lb, squash for RD$6.95lb, sweet potatoes for RD$5.95lb, and avocadoes for RD$5.95ea. El Nacional supermarkets are advertising 40% off pineapples and watermelons and 20% off other fruits and vegetables. Carrefour is advertising watermelon for RD$3.90lb, banilejo mangos for …

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The Dominican Republic will invest in the exploration and exploitation of an area of the Orinoco River in Venezuela, an oil reserve with an estimated 235 billion barrels, says the Presidency. The state-owned Dominican Petroleum Refinery would be the investor for the Dominican government in the Petroleo de Venezuela (PDVSA) venture. Likewise, President Leonel Fernandez …

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Hacienda Minister Vicente Bengoa explains that at the current level of consumption of 30,000 barrels a day, under the new PetroCaribe agreement that provides long-term financing for 60% of its fuel purchases with oil at US$100 or more per barrel and 70% when the price is US$200 or more, the government would have US$907 million …

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