Dolores Vicioso – Page 7131

The pricing for the Dominican sovereign bonds placed yesterday has a spread of 493 points compared to the 10-year US treasury, making its interest rate a 9.04 percent. The interest rate for these bonds are 46 points lower then the last sovereign bonds placed in 2001 for US$500 million. The interest payments will be every …

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Yesterday the Progreso financial group announced their acquisition of the Corporan Circuit. The process began last September when the Progreso Group announced its plan to acquire the media company. The deal was final on 12 December of last year. The Corporan media network runs three of the most prominent news radiobroadcasts and has another nine …

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The Dominican Exporters Association (ADOEXPO) protested the recent presidential decree that establishes a US$95 fee for load verification using X-rays. Exporters claim this measure will affect them in a significant matter since imported raw materials are also subject to a $25 verification fee. Representatives from ADOEXPO emphasized that the fiscal burden on their sector has …

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The Mejia government yesterday inaugurated the new handball pavilion of the Complejo Deportivo Parque del Este, the sports park area where several of the venues for the summer Pan American Games are being built. The handball events for the Central American and Caribbean Games took place there last November.  The facility was built at a …

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Jose Acevedo pitched the first complete game in the Dominican baseball league in two years while striking out 10 in a resounding 5-0 defeat of the Leones de Escogido. Luis Polonia continued his hot hitting with a home run and a double, knocking in two runs and establishing a new tournament record for hits. The …

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The Chamber of Deputies passed the 2003 Budget yesterday with 93 of the 138 deputies voting in favor. The budget regulates the disbursement of RD$83 billion over the course of 2003 and represents nine billion more money than was budgeted last year. The main departments and institution to see increased allotments this year are: city …

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President Hipolito Mejia says he will not buckle under pressure from German and British agencies that have lined up to support the power generation company, Cogentrix, and its efforts to seek payment of a US$39-million debt owed by the Dominican government. The government is in a bind because, as stated by Finance Minister Jose Lois …

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The National Council of Competitiveness (CNC) was launched officially yesterday with the participation of President Hipolito Mejia, Industry & Commerce Minister Sonia Guzman and leading business organizations. President Mejia, speaking briefly at the event, encouraged Dominican businesspeople to unite with the government through the council. Minister Guzman argued that the adversaries of competitiveness are protectionism …

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The Chamber of Deputies passed a US$55-million loan to stimulate the competitiveness of food production in the Dominican Republic. The Proyecto de Apoyo a la Transicion de la Competitividad Agroalimentaria (PACA) will be implemented by the Ministry of Agriculture. Agriculture Minister Eligio Jaquez was present at the session yesterday to await the final vote of …

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Dominican Republic Sovereign USD Issue Lead: JPMorganChase Size: $600mln  Tenor: 10yr Spread: +490-495/10yr Order sizes are 1.2bln Pricing is today 16th of January Lehman Brothers, Morgan Stanley and AMRO, will be trading in secondary markets.