2005 – Page 10

Vice President Rafael Alburquerque, in the name of traveling President Leonel Fernandez, signed into law the tax reform legislation that generated so much debate over the last two months. The tax package is intended to replace the funds lost as a result of the implementation of the DR-CAFTA agreement that includes the elimination of the …

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The Dominican government could collect surplus revenue of approximately RD$13 billion if the US delays the start of DR-CAFTA in January as proposed. With the passing of the fiscal reform, the government will have a windfall of additional revenue, as reported in Diario Libre. These funds would not be included in the 2006 budget, and …

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Franco Uccelli, Dominican market analyst for Bear Stearns, writes in a Wednesday update that the Dominican government formally requested last night congressional authorization to issue US$300 million in the international capital markets. The funds, which would be raised by either reopening the 2018 bond or by floating a new bond carrying more favorable terms for …

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Before leaving on his five-day trip, President Fernandez signed a series of decrees that created, among other things, the Patronage for the House of Gregorio Luperon, the delegation that will attend the World Trade Organization VI Conference, and a few new prosecutors and magistrates in several of the provinces. Amilcar Romero will head the delegation …

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The violent incidents that took place in Haiti on Monday, supposedly as a reaction to the state visit by Dominican President Leonel Fernandez, will not cause a breach in diplomatic relations, according to sources at the Ministry of Foreign Relations. Although the near-riot caused Fernandez’s visit to Port-au-Prince to be cut short, the Dominican Foreign …

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During an operation carried out in Santiago’s Padre de las Casas neighborhood, the authorities seized 14 kilograms of cocaine, RD$700,000, several portions of marijuana and blank credit cards. Two people, Joaquin Adames and Carolina Jerez were arrested. Local District Attorney Raul Martinez and DNI Colonel Crisostomo Lopez told reporters that the drugs had been found …

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Workers digging around the Olympic Center for the Metro have uncovered what appears to be a tomb some seven meters long, one and a half meters wide and several meters deep. Moreover, one of the workers, who did not want to be identified, said that the bottom of the possible gravesite sounded “hollow” and “as …

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The Dominican Republic continued to reap the benefits of a solid agricultural base as statistics released by the Ministry of Agriculture show that 80,000 pigs and 17.8 million chickens are ready for the holiday festivities. The different departments of the Agriculture Ministry, together with the Cibao Pork Producers Association and private producer Manuel Excano all …

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In Santiago de los Caballeros the Police are warning shoppers and merchants alike to look out for counterfeit RD$2,000 and RD$1,000 peso bills. Listin Diario carries photos of the fake money as well as the real currency. The police have arrested Lorenzo Rosario Rodriguez for trying to exchange false United States currency at an exchange …

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From January to November of this year there have been 2,084 violent deaths in the Dominican Republic, an average of six people each day. Slightly over 20% of the deaths were attributed to “an exchange of gunfire” between alleged criminal elements and the police. During November the National Police and the Pathology Institute reported a …

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