1996 – Page 11

In September, the Corporación Dominicana de Electricidad (CDE) collected RD$338 million, the highest monthly amount to date, representing an daily average of RD$17 million. According to a CDE internal report, collections of electricity bills increased by 28%, when compared to last year’s daily average of RD$13.2 million.

The Central Bank (CB) says that is not receiving any offers to purchase the Banco del Comercio Dominicano (BANCOMERCIO), because a commission is studying a report about the bank’s situation, that will be submitted to the Monetary Board. The information was provided by Luis Manuel Piantini, vice-governor of the CB and president of the board …

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The United State Gypsum, the world’s biggest mineral processor, has made a proposal for the exploitation of the Barahona gypsum mine and it is expected that it will be delivered to President Leonel Fernandez this week. Executives and technicians from the firm visited the country and made its first proposal to the Corporación Dominicana de …

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Luis Manuel Bonetti, Ministry of Commerce and Industry, discarded the idea of lowering fuel prices, arguing that the international increase of US$6 per barrel of petroleum, makes it impossible to contemplate. He pointed out that if international prices were increasing, we cannot decrease them here. He said until February the international price per barrel was …

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Tourist Minister,Féliz Jiménez revealed that French investors are interested in building hotels in the western province of Pedernales, along the Dominican-Haitian frontier. Mr. Jiménez also said that he will be traveling to France to meet with these investors as well as European airlines to discuss increasing the number of flights between Europe and the Dominican …

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Although the Consejo Estatal del Azúcar (CEA) remains in a financial crisis, a group of 19 businessmen and individual investors are interested in investing in, or buying, its sugar mills. Mr. Antonio Isa Conde, executive director of CEA, provided this information, and also said that the company has 1,380 million acres of cane growing land, …

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The Japanese government will finance the construction of 50 schools in different regions of the country, under its non-reimbursable economic assistance program with the Dominican Republic. Mitsuhiro Nahamura, the Japanese ambassador, said that value of this aid is calculated at between 17 and 20 million US dollars.

The senate has received a proposal to increase public sector wages, including city councils, police and the military, by 100%. The proposal excludes those high ranking government officials who recently benefited from President Fernández’s decree increasing their salaries. The proposal has been prepared by senators Frank Martínez and Miguel Andrés Berroa Reyes, and has been …

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The government’s official budget report reveals that public investment has reduced by 50%. In July, public expenditure on construction was RD$733.2 million, but decreased to RD$322.4 million in August. A lot of this can be accounted for by the fact that the new government took over on 16 August, and put many payments on hold …

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The gross international reserves of the Central Bank registered a decrease in the month of September of 3.9% when compared to the month of December 1995, according to its balance sheet. The amount of reserves last month totaled US$507.8 million, while in December 1995 they stood at US$528.5 million. The variation between August and September …

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