2003 – Page 264

As reported in yesterday?s DR1 Daily News, sales of the new Central Bank savings certificates have been slow. According to a story in today?s List?n Diario, total sales for the first two days have amount to a paltry RD$200 million. Sources close to the Central Bank say that today?s sales are expected to pick up, …

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The Monetary Board of the Central Bank has named the chief administrators for the newly intervened Banco Intercontinental (Baninter). The List?n Diario says that Mario D?valos, Bill Wall and Manuel de Jesus Vi?as will head the new administration of the troubled bank. Diario Libre reports that Vi?as will head the business sector, D?valos will take …

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President Hip?lito Mej?a has replaced his son-in-law, Juan Francisco Garrig? Matos, who had been appointed just last week as a member of the Monetary Board. Mej?a?s daughter, economist Carolina Mej?a, was appointed at the same time. Both she and her husband had been assigned to the board in the major reshuffling that occurred when Central …

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The Senate approved loans worth US$238 million yesterday, with the funds destined for the construction of new water facilities for Santiago de los Caballeros, San Francisco de Macor?s, La Romana and San Crist?bal. The funds are being facilitated by HSBC Bank PLC, Cooperative Centrale Raiffeisen-Boerenleen Bank, Natexis Banques Popularies, and ABN Amro Bank ? all …

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Yesterday, President Hip?lito Mej?a swore in 1,490 new members of the volunteer armed forces. The new members of the Voluntary Military Service (SMV) were trained at army, navy and air force bases around the country. According to General Rodr?guez Curiel, the Director General of the SMV, the new recruits received 1,629 hours of rigorous training …

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Today?s List?n Diario newspaper contains a story that has Hans Hertell, the US ambassador in the Dominican Republic, telling reporters that the DR would participate in a reconstruction of Iraq. The story does not provide any further details of what the Dominican Republic would contribute to the reconstruction, outside of explaining that this participation would …

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The major intersections of the largest avenues in the country are the workplaces for hundreds of men and women, and not a few children. The workplace might be formal, as in the case of an ice-cream vendor or newspaper salesperson. It might also be informal, as in the case of the different types of salespeople …

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The big story today is that the Central Bank of the Dominican Republic has taken over the day-to-day operations of the Banco Intercontinental. The Monetary Board of the Central Bank annulled the decree that would have allowed Banco de Progreso to acquire 90% of the shares of Baninter and merge the two banks. The Central …

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Both the List?n Diario and the El Caribe newspapers reported today that the demand for the new issue of Central Bank savings certificates has been tepid at best. According to El Caribe, the placement of the RD$5 billion in certificates met with mere questions from potential buyers, instead of transactions. Of the six desks that …

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According to Industry & Commerce Minister Sonia Guzm?n de Hernandez, the United States has proposed that the Dominican Republic enter the negotiations for a free trade agreement. The suggestion, however, is that the DR join in the ongoing negotiations with Central America, in what is called a ?docking? clause. The deputy minister for foreign trade, …

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