1996 – Page 55

The work on the extension of the Autopista Duarte at kilometro 9 has advanced to the point where the company, Hormigones Moya, has announced that it will be completed by the end of June. The extension, includes the construction of two bridges over Avenida Luperon thereby making four lanes (two on each side). Roberto Cruz …

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The president of the Dominican Olympic Committee (COD), Dr. Jose Joaquín Puello, presented the two Dominicans who will carry the Olympic torch on its way to Atlanta to the news media. Carlos Martinez, who is a member of the national basketball team (which did not qualify for the 1996 games) and runner Ariele Puente, the …

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The Oficina Técnica de Transporte (OTT), together with the National Police, has warned citizens using the public transport system not to board small cars “conchos” whose drivers do not have their identification plates known as “tablillas” clearly displayed. The campaign to have all drivers obtain such plates began last November when a wave of robberies …

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Just days after the Corporación Dominicana de Electricidad (CDE) claimed that its production was in excess of the national demand, a new wave of power cuts of considerable length has hit the country. The public relations director of the state-owned electricity company, Alberto Ramirez, told the news media that the power cuts experienced are due …

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The mystery in the news media last week was which government department ordered the denial of entrance permission for the former Attorney General of the National District, who wanted to return to the D.R. after living for several years in Miami, Florida. Josefina Juan de Pichardo, who on more than one occasion has said from …

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Tricom has received a loan for US$60 million to finance its current capital investment plans with favorable conditions, including a 27 month period of grace for the capital repayments. The monies have been lent at the preferential interest rate of the Carifa bonds in Puerto Rico. Some US$28 million will enter the Dominican system, through …

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The Customs Department has announced that it will begin applying the Generalized Agreement on Trade Tariffs starting in June. The new valuation system will reduce under valuations by importers to a minimum. According to Franklin Nuñez, Asociación Dominicana de Agentes de Aduanas, a grouping of customs agents, the new system will strengthen Dominican foreign trade …

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The differential between the interest the banks pay and the interest they charge is huge, resulting in the high cost of money, as revealed in the new report published last week by Boletín Bancario of the Clasificadora y Evaluadora del Caribe, an economic consulting firm, EcoCaribe, under its president, Manuel Cocco. The publication shows that …

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Commenting in the Listín Diario last week, economist Andrés Dauhajre points out that the exchange rate, after several months of stability at RD$13.85 per U.S. dollar, has increased to RD$14.30, a depreciation in the peso of 3.2%, as a result of an anticipated devaluation and electoral nervousness. With the first round over, the U.S. dollar …

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A pool of 22 telecommunications companies plan to invest US$27 million to lay the first optic fiber cable between Puerto Rico and the Dominican Republic. The cable, to be called Antillas I, will improve the telecommunication services between both countries. The amount of traffic between the islands makes for a profitable business and investors hope …

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