New fuel prices
Fuel prices per gallon as of Saturday 2 June: Premium Gasoline RD$41.45 Regular Gasoline RD$36.01 Regular Diesel RD$22.69 Premium Gasoil RD$24.78 Avtur RD$20.67
Tax evasion in the DR
In her column in Listin Diario, Rosa Maria Jimenez responds to Teofilo Tabar’s disclosure of the many ways taxes are evaded in the DR. (see Tax Evasion explained at http://www.dr1.com/daily/news053101.shtml). She wonders why the department does not do more about this situation. “What is really the problem? Have they not been able to, have they …
NBA basketball player gives clinics
Luis Felipe Lopez, the Dominican Republic’s own National Basketball Association player who plays with the Minnesota Timberwolves, is on a two-week vacation in the DR. He has taken time off for sports clinics with the youth in Cristo Rey and Capotillo, two city slum areas.
DR volleyball dream team wins US Open
The Dominican women’s national volleyball team won the 2001 USA Open Volleyball Championship held 26 May to 2 June in Milwaukee, Minnesota. To win the tournament, the DR defeated the University of Stanford (California) team 25-16, 19-25, 25-20 and 25-15 before 7,000 fans at the US Cellular Arena in Milwaukee. For more on the team …
Presidente Latin Music Festival a big success
President Hipolito Mejia attended two of the three nights of bachata, pop, merengue and salsa. And thousands came from Puerto Rico, including brand new Miss Universe, Denisse Quiñones. Crowds of more than 50,000 per evening thronged the Olympic Stadium in Santo Domingo. Despite this year’s show not including the biggest names in Latin music, the …
Bad timing for sovereign bond issue?
As reported in El Caribe and El Siglo newspapers, Mauro Leos, vice president and a senior risk analyst at Moodys Investors Services said yesterday that doubts among international investors about Latin American economic stability could affect the Dominican Sovereign Bonds announced by the Mejia administration. He said the volatility of the financial markets in general …
Government fiscal pressures could affect risk rating
Leos also says that whether the DR improves or worsens its risk outlook rating by the end of the year will most likely depend on actions taken by the government. He said the fact that Congress has not yet granted autonomy to the Central Bank still leaves it vulnerable to political pressures of the old …
Some go out to allow new ones in
An El Caribe newspaper editorial today points out that the Metropolitan Transport Authority recently announced that it will be restricting the 10,400 public transit vehicles in Santo Domingo (8,000 cars and 2,400 minibuses and buses) to inter-daily operation. The idea is to reduce bottlenecks, street congestion and save fuel by only allowing those vehicles to …
Tax on gross sales is illegal?
The Listin Diario newspaper publishes a front-page story on a judgment issued by the Supreme Court of Justice on the government minimum charge on gross sales income. Businesses with gross sales of RD$6 million a year or more need to pay 1.5% a month in taxes, regardless of whether they make a profit at year’s …
Power generator embargoes distributor accounts
Listin Diario reports that Generadora Haina has embargoed the bank accounts of the Union Fenosa and AES power distributors — Edesur, Edenorte and Edeeste. Generadora Haina claims the distributors owe RD$780 million. Recently two of the larger generator companies complained that contractual revisions carried out by the government have been discriminating against them in favor …