Dolores Vicioso – Page 8169

Mr. Cesar Garcia Victoria, president of the Association of Brokers, told the newspaper Hoy that “there are still quite a lot of limitations which do not allow normal operations at the Santo Domingo Stock Exchange. “For instance,” Mr. Garcia said, “in Santo Domingo we are not allowed to trade in hard currencies such as Sterling, …

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The Federacion de Colonos Azucareros (FEDOCA), says that the State Sugar Council will incur a deficit of RD$1,100 million during the next grinding season. This will not allow the State sugar industry (CEA) to pay the RD$419 million they owe the organization’s members. During the last two years, continues the report in the Listin Diario, …

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The country exported minerals worth RD$2,884 million during the final quarter of last year, according to the Central Bank bulletin, Principales Indicadores Economicos del Banco Central. Gold production for the last quarter of 1995 was 75,843 troy ounces, while during the first nine months of last year, Falconbridge Dominicana produced 23,113 tonnes of nickel. Falconbridge …

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Mr. Juan Andres Pla Gomez was named executive director of the Consejo Estatal del Azucar (CEA) instead of the recently appointed Mr. Dhimas De Moya. A former executive director of the government sugar enterprise said that “the changing of the directors will not solve the very serious problems facing the nationalized sugar industry.” The sugar …

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The Banco Agricola has authorized loans to the tobacco farmers amounting to RD$9.2 million this year. According to the newspaper Listin Diario, 12,112 Dominican tareas will now be planted. (1 tarea = 625 square meters). The announcement was made by Mr. Adriano Sanchez Roa, General Manager of the bank while inspecting tobacco plantations in Villa …

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The Ministries of Agriculture and Education will revive the School Kitchen Gardens that were so popular during the second world war. This was announced by Mr. Virgilio Alvarez Bonilla, who added that “an agreement will be signed shortly between the Ministries.” The land for the school gardens will be supplied by the Ministry of Education …

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Precious metal brokers applauded when the price for gold went above US$400 per ounce, according to the Wall Street Journal Americas. The financial publication said that “for the first time since August 1993, gold has broken through the US$400 barrier.” Brokers from a New York bank, even opened a bottle of Champagne to celebrate the …

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The general manager of the Industria Nacional del Vidrio (FAVIDRIO), Mr. Rafael Hernandez, told the newspaper Nuevo Diario, that the State company is producing no more than 8,000 cases of bottles per day. But he added that “thanks to the efforts made by the new Director of CORDE, Mr. Pedro Breton, the company that I …

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The increase in unemployment will continue during 1996, according to Mr. Cesar Nicolas Penson, president of the Asociacion de Empresas Industriales de Herrera, who added that “the people will not protest because of hope for changes for the better brought about by the proximity of the presidential elections.”

In the last three months companies in the free zones have dismissed more than 8,000 employees. The figure was given to the newspaper El Caribe by Mr. Eddy Martinez, the executive director of the Asociacion Dominicana de Zonas Francas (ADOZONA). He added that 1995 was a good year for the free zones until September, when …

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