Dolores Vicioso – Page 7257

President Hipolito Mejia said on Friday that banks in the DR are offering to issue bonds for RD$3 billion at an interest rate less than 10%. He said this would be less than the cost of the sovereign bonds. ?There are many things that cost less (than the sovereign bonds), but the country has to …

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The Ministry of Industry and Commerce has ordered a RD$2.70 reduction in the price of premium gasoline and a RD$1.84 reduction in regular gasoline. This means that premium gasoline which cost RD$39.38 a gallon has dropped to RD$34.17, which is 63 cents below its price in August 2000 when the new government took power.  Diesel …

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The ?Leave the car at home, use the bicycle? day organized by the Ministry of Environment was very successful. Now people are talking about setting up routes on city streets for those traveling by bicycle. Given the congestion of Santo Domingo?s city streets and the fact that more people are buying more cars, the suggestion …

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In the first four months of the year, the National Council of Free Zones approved 40 new companies to move into Dominican free zone parks. This calls for a US$50.3 million investment. The new companies are expected to generate US$28.4 million a year in foreign exchange and create 4,853 new jobs. Most are apparel manufacturers, …

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The administrator of the Dominican Electricity Corporation announced measures that will reduce the cost of power in the DR. He said the goal is to lower the price of one kilowatt/hour to US$0.06 from its current rate of US$0.10-US$0.14. He explained that the CDE is investing more than RD$1 billion to improve the transmission of …

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The Dominican Association of Home Builders and Promoters (Acoprovi) said housing starts were up recently thanks to a slight decline in interest rates. Interest rates for the past year ranged between 22-26%, and dropped in the second quarter of this year to 22-24%. Francisco Anibal Gonzalez, president of the organization, told Hoy newspaper that he …

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The government has chosen six companies to build RD$400 million worth of sports venues for the Pan Am Games at the Mirador del Este Park. The companies are Pinsa-Marvar, Consorcio Dominico-Venezolano, Modesto, Setedom, Abreu-Soto and C&J Ingenieros. The builders have instructions to start next week. The awarding of the contracts has re-opened the controversy over …

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The Mejia administration has announced a RD$4,400 million spending cut from now until December. President Hipolito Mejia said the government would cut spending by RD$135 million in June and July (5%) and by RD$270 million as of August (another 5%). The President announced a commission to supervise the spending cuts made up of the National …

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