2003News

Business to fit the bill?

Hoy newspaper?s economic editor, Mario Mendez, reported on Saturday that business representatives are concerned that during the meeting of Technical Secretary of the Presidency, Carlos Despradel presented a report on ?a model government? that should not carry out any measures for change and that the economic adjustments needed should be borne by the private sector. …
2003News

Baninter legal team accuses Malkum

Central Bank Governor Jos? Lois Malkum ordered a US$22-million (RD$551-million) payment in savings certificates originating from Baninter funds to businessman, politician and Baninter board member Guaroa Liranzo, just two days after the revelation of the Baninter fraud, say lawyers for detained Baninter president, Ram?n B?ez Figueroa. Liranzo also received US$11 million in cash, alleged Marino …
2003News

Bancredito deal approved

The Monetary Board approved the purchase of Bancredito?s finance companies by the Banco Profesional. The Banco Profesional is the banking arm of the E. Le?n Jimenes business group that also owns Presidente beer and Marlboro cigarettes in the Dominican Republic, among other companies. Banco Profesional will take over Banco Nacional de Cr?dito, Bancredicard (the credit …
2003News

Bancredito purchase welcomed

Media commentators and business leaders continue to express optimism in reaction to the news that the Le?n Jimenes group will take over Bancr?dito. The commercial bankers association (ABCRD) has published full-page advertisements in today?s newspapers congratulating all parties involved in the deal, saying that, should it go through successfully, it would serve to strengthen the …
2003News

Casabe exports at US$2.1 million

The traditional cassava bread (casabe) is a major export revenue-earner for the Dominican Republic, according to casabe producers? leader Cristian Valerio. A national casabe council special is being set up, Codecasabe, which will help consolidate the production and export of this typically Dominican food. Five hundred families owe their livelihood to casabe production, according to …