2004 – Page 127

The Canadian Embassy is standing by statements made by Ana Mitila Lora yesterday regarding the naivete of Dominicans who pay up to US$4,000 for advice on how to migrate to Canada. Global Network Associates has set up operations in Santo Domingo to assist those interested in residing in Canada. Lora writes that similar advice as …

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Some 1,000 athletes are expected for the X Central American and Caribbean University Games, scheduled to open at the Universidad Autonoma de Santo Domingo (UASD) this Friday, 30 July. The games will continue through 6 August. The state university is the organizer of the event, in conjunction with the Central American and Caribbean University Sport …

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Athletes from Kenya, Ethiopia, Puerto Rico and the Dominican Republic will compete in the Hispaniola Lowenbrau marathon (21 kilometers) on 7 August. Some 250 athletes have registered for the event now in its ninth year. Among those expected are several international athletes and prize money equaling RD$300,000 for the competitors, including a RD$62,000 first-place prize. …

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Doctors at the nation?s public hospitals, as well those at the hospitals in the Social Security system, spoke out about the crisis facing their endeavors. According to El Caribe, these physicians have seen their monthly salaries fall from US$685 in 1999 to US$337 in 2004. As a result, Waldo Ariel Suero, the president of the …

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The Central Bank of the Dominican Republic has published a small announcement that says that it will no longer pay 50% annual interest on certificates of deposit. The new interest rate will be 45% for new depositors and for those older certificates that are not renewed by their owners. There will be automatic renewals for …

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The tax proposal sent to the Chamber of Deputies by President Hipolito Meja is running into the usual obstacles. The first hurdle the new legislation had to get over was the heated debate about what to do with the proposal. After much heated debate, the decision was to send the bill to a special commission …

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University of Chicago economist and businessman Rodrigo Montealegre wrote to DR1 to join those expressing their concern over the ?paqueton,? or new tax reform bill, prepared by the PLD-PRD economic advisors. Montealegre says that Leonel Fernandez could be ?walking into a trap? by accepting the proposed tax increases inspired by PRD economic advisors to solve …

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Representatives of the principal business associations and workers? unions drew up a proposal for a social agreement that is also an agreement to discuss pay raises for workers in order to face the rising cost of living and the diminished purchasing power of the Dominican peso. As reported in El Caribe, Virgilio Ortega Nadal, the …

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Itabo and Ede-Este are going to court in separate trials for excessive expenditures in the rehabilitation of two units and for non-payment of debts and violation of the payment schedule that had been agreed upon. A source gave El Caribe a document that showed that the repairs to Itabo units I and II carried US$15.7 …

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One of the premier and best-known names in Dominican commerce, the El Curacao retail chain, fell prey to the attraction of lower interest rates on dollar loans, and is currently up for sale. Two years ago, before the banking crisis, the entire chain of stores, which has exclusive local rights to the SONY brand name, …

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