2001 – Page 84

Mayor of Santo Domingo Johnny Ventura seeks the approval of his city hall for a project to build 150,000 pre fabricated dwellings in 15 barrios promoted by Brasil Representaciones Export Import C. por A. (Breica) and another to build 250,000 promoted by Servi Ciudad. The plan calls for the state guarantee for commercial bank loans …

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In his inaugural speech as new president of the Asociacion de Empresas Industriales de Herrera, Jose Ernesto Sanchez Berges warned that the new economic model of the government of borrowing from who ever wants to lend the government is a very risky strategy especially in these days of critical world economic growth. The Herrera business …

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Leonel Fernandez, Jacinto Peynado and Milagros Ortiz Bosch ranked highest in the rating made by polled Dominicans when asked if the presidential election were held today for whom they would vote. The presidential election is scheduled for 2004. The results come from a Gallup poll that was commissioned by the Senate. The results were published …

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The Monetary Board announced that the Canadian company, Placer Dome is the first option for the exploitation of the sulfide deposits of the Rosario mine in the north central Cotui. Placer Dome is North America’s third largest gold mining company and the world’s fifth largest gold miner. Placer Dome competed with Australia’s MIM Holding for …

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Minister of Foreign Relations Hugo Tolentino Dipp and Ambassador Ali Khaled Al-Sabah of Kuwait signed for the DR and Kuwait establishing diplomatic relations. Al Sabah highlighted Dominican solidarity with Kuwait during the Iraq invasion in 1991. Al Sabah said that the DR could benefit from the Kuwait foreign investment fund. Minister of Foreign Relations Tolentino …

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Minister of Public Works Miguel Vargas announced the start of the San Cristobal-Km. 40 Duarte highway, 28 kilometers at a cost of RD$256 million or US$16 million, a 15-18 month project and a 20-year concession. The Executive Branch sent a bill on the project to Congress for US$11.3 million for the rehabilitation and construction of …

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While talks continue with the generators and distributors, the National Palace yesterday suffered a financial blackout at 4 pm. Financial blackouts are caused by lack of payment. At 8:45 pm the blackout was more notable when the power plant failed for 15 minutes. Recently, the president of the AES Distribuidora del Este, Karl Huber complained …

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President Hipolito Mejia received the credentials of the ambassadors of Philippines and Japan during a brief ceremony at the National Palace yesterday. Wenceslao Jose Quirolgico is the new ambassador for the Philippines. He was previously ambassador to Cuba. Takehisa Nogami is the new ambassador for Japan. He was previously ambassador in Ethiopia and Eritrea.

Business spokesmen for three organizations urged President Mejia to send a positive and optimistic message so as to overcome the confrontations existing between government and business sectors. Juan Barceló, of the Association of Exporters (Adoexpo), Antonio Espín of the Industrial Association of Herrera, and Ernesto Martinez of the Organization of Commercial Companies (ONEC) told Hoy …

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Inflation for the past 12 months has been 10.33% as reported by the Central Bank. The Central Bank is forecasting a year-end single digit inflation rate. The Central Bank reports that inflation during the first semester of the year has been as follows: January 8.18%, February 8.62%, March 9.07%, April 9.58%, May 10.09% and June …

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