2008 – Page 70

Central Bank president Hector Valdez Albizu says that the DR has managed the international financial crisis well so far, adding that he is optimistic about the nation’s economic future. Although the crisis has affected many countries, the DR has managed to maintain a level of macroeconomic stability. According to Valdez, the inflation rate for the …

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Chamber of Deputies president Julio Cesar Valentin says that effective immediately the Chamber will withhold payments to any Deputy who hasn’t submitted an asset declaration, as required by Law 82-79. Valentin says that the names of those Deputies would be posted on the CD’s website. Valentin says he was surprised at the fact that only …

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Yesterday the Environment Ministry closed down three sand and gravel extraction companies and posted military personnel on their premises. Agregados Consolidados, Agregados AG and Mon-Braca failed to comply with Law 16-07, which states that companies cannot work within 150 meters of the rivers or extract sand and gravel. The Environmental Ministry said there would be …

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The Navy has pressed charges against six former officers for their involvement in the 4 August drug-related massacre in Bani. Captain Jesus Sanchez Pina, Captain Miguel Pena Figuereo and Major Jose Arias Fernandez are now in preventive custody. To date, the Navy has identified and expelled ten officials from its ranks in connection with the …

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Center for Exports and Investments (CEI-RD) director Eddy Martinez says the DR has received US$2.3 billion in investment and export revenue in 2008, compared to US$1.7 billion in 2007. Martinez, speaking at a breakfast meeting for economic correspondents organized by El Caribe newspaper, said the DR received US$1.5 billion in revenue and investment between January …

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Economy, Planning and Development Minister Temistocles Montas explained that regardless of the decrease in international fuel prices the public would continue to pay elevated gasoline prices because the government needs to make up the revenue it lost when the barrel of petroleum was registered at US$150. Montas said that months ago when the barrel of …

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The PRD is reviving the debate about the Sun Land case, over a year after it submitted its original charges against the government. Leading PRD members Rafael Alburquerque and Orlando Jorge Mera made their way to the Supreme Court (SCJ) today and presented a letter to SCJ president Jorge Subero Isa asking for a ruling …

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International fuel prices have dropped 50% since June, when they were at a record US$145 per barrel. The high price of oil caused a trickle-down effect, increasing transport and production costs, which in turn increased food prices. But while fuel prices have since slowly dropped, food prices have stayed the same. According to Hoy, only …

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The CNUS and CASC workers’ unions have broken off talks with the business sector because the latter has yet to respond to demands proposed by the workers’ unions. Workers are asking for a 40% salary increase and a 30% increase for all people who make up to RD$30,000 per month. Union leaders say they will …

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A recent study revealed that 30% of UASD state university students failed their entrance exams. According to the study, between 10% and 20% of these students are never able to catch up and end up dropping out of school. UASD admissions director Gloria Madera said that 80% of students who failed the exams come from …

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