2008 – Page 192

The Deputy Managing Director of the International Monetary Fund (IMF) arrives in Santo Domingo today to meet with President Fernandez and his economic team. Murilo Portugal received a special invitation from the governor of the Central Bank, Hector Valdez Albizu. This evening Portugal will give a talk on “World Economic Perspectives and Challenges for the …

Read more…

The Organization of Petroleum Exporting Countries (OPEC) has loaned the Dominican Republic US$35 million for three major projects, and the Inter-American Development Bank (IDB) is providing a further US$40 million for a series of projects. According to El Nuevo Diario, the funds are for highway construction, the construction of aqueducts and water treatment plants in …

Read more…

The head office of the Agriculture Bank of the Dominican Republic (Bagricola) is to be put up for sale, according to the latest decision of the board of directors. Paino Abreu Pichardo told reporters from Hoy newspaper that not only the headquarters building, a huge1950s edifice between George Washington and Independencia Avenues, but many of …

Read more…

The Ministry of Industry and Commerce froze the price of diesel this past week and only increased the price of regular and premium gasoline by RD$1.30 and RD$2.50 respectively. According to Hoy newspaper, both subsidized and non-subsidized propane went up RD$2.00 per gallon. Diario Libre reports that the real price of diesel fuel should be …

Read more…

Over the medium term the obligations that the Dominican Republic has contracted with Venezuela under the PetroCaribe Pact cannot be paid by foodstuffs produced in the DR. The main cash crop, black beans, has not seen an increase in local production for years. Ever since it was made known that the oil from Venezuela could …

Read more…

Cuba shows up as the best and the Dominican Republic as the worst in a study of third and sixth graders in 16 countries in the region, as well as the state of Nuevo Leon in Mexico. A total of 196,000 students, 8,854 classrooms and 3,065 urban schools were part of the four-year study, which …

Read more…

Eminent hotelier Enrique de Marchena Kalaf was elected to lead the Caribbean Hotel Association (CHA) during a meeting of the association in Washington, D.C. In his address to the assembly, De Marchena told his audience that the association was faced with the difficult task of making the United States government understand the importance of tourism …

Read more…

Father Jose Navarro, S.J., has been awarded the Henri Nestle Prize for scientific research for his work in child nutrition in the Dominican Republic. The prize was awarded in Sao Paulo, Brazil. The prize rewards the best research in the areas of nutrition in public health, clinical nutrition, biochemistry and food technology that is done …

Read more…

Baby milk products and medicines have increased in price. According to a report by Aleida Plasencia in Hoy, a tour of several pharmacies revealed increased prices for formula, water for formula and medicines. In neighborhoods like La Fe, Naco and Cristo Rey, the effects of the strong euro, the increasing costs of raw materials and …

Read more…