1996 – Page 65

The Balaguer administration’s officers are divided over the ruling that was drawn up to regulate sugar imports. The proposed rules are supported by the Ministry for Foreign Affairs, and its minister, Carlos Morales Troncoso, a former director of the State Sugar Council (CEA) and former top executive of Central Romana, the nation’s largest private sugar …

Read more…

The Central Bank report on the economic indicators for the first quarter of the year shows that the Gross Domestic Product has grown 5%, up from 2.5% for the same period last year, inflation has been 6.7% for the past 12 months, international net reserves grew by US$35.8 million, the prime interest rate is 20.5%, …

Read more…

The government reported a new record in tax collections during the first quarter of the year. Some RD$459.4 million more was collected this January, February and March than during the same months in 1995, according to the monthly publication of the national budget office, the Oficina Nacional de Presupuesto. Government collections for the first three …

Read more…

The vice president of Liz Claiborne International, Liz Kane, said last week upon visiting the Dominican outlet that the local franchise is the largest outside of the United States and is a replica of the store the company has on Fifth Avenue in New York City. Angel Guidicelli was the architect, while the interior decoration …

Read more…

The Monetary Board authorized the Central Bank to assume control of the operations of the Banco del Comercio Dominicano which is in the final stages of selling its majority shareholding to the Banco Central Hispano de España. The Central Bank took the action to stop a run on the bank that would cause its collapse. …

Read more…

The principal executives of Petrolera Once Once, Jaak and John Rannik, say that after carrying out new seismographic studies they have decided to relocate their third exploratory drilling for natural gas. They will be drilling the third 2,000 feet hole in La Guiza, San Francisco de Macorís, after analyzing data from their first drilling which …

Read more…

The suspended Director General of Prisons, Alberico Hernández, has been arrested and charged with permitting the escape of the convicted drug trafficker, Simón Abreu Súarez, as well as keeping large percentages of the money allocated for the purchase of food for the inmates at La Victoria prison in the National District. Two of Mr. Hernández’s …

Read more…

With the payment of US$4,500,000 by the government to the Smith-Enron corporation for the purchase of fuel for its power station in Puerto Plata, the electricity service in the D.R. improved substantially last week. Power cuts were reduced in length and frequency, and the usual complaints heard from almost all sectors of Dominican society were …

Read more…

The Dominican Republic has deported at least two ex-officials of the Haitian government of General Raoul Cedras (1991-1994). The ex-chief of police of the Cedras government, Michel Francois, and the former mayor of Port-Au-Prince, Franc Romain, were both given political asylum in Honduras. The deportations come after rumors of a plot among former officials of …

Read more…

The National Meteorological Office recently released a bulletin in which it warns that this year “we will have more hurricane activity than is usual, in comparison to the last 45 years.” It says that seasonal forecasts have predicted a higher number of tropical storms in the Atlantic Basin in 1996 than in previous years. The …

Read more…