2005 – Page 110

The Industrial Association of the Dominican Republic (AIRD) has officially granted its support to the proposals forwarded by the National Business Council (CONEP) regarding the new tax proposals needed to compensate for the government’s loss of revenue resulting from the DR-CAFTA agreements. Yandra Portela and her executive board gave the CONEP proposal their blessing at …

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The Dominican government’s plan to save fuel in the face of astronomically high oil prices is literally in diapers. Only four out of 80 government institutions have begun fuel saving measures. According to Listin Diario, the business community has done a lot better at saving fuel, especially diesel oil, due to the very high prices. …

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A report from electrical distributor EdeEste shows that the higher oil prices will cost the company an additional US$47 million. The increased costs are the result of a combination of higher crude oil prices and greater energy consumption by customers. The report, obtained by Hoy, shows that the combination of these two factors provoked an …

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The government has signed a memorandum of understanding with the Spanish power company Union Fenosa, formerly responsible for two-thirds of the power distributed in the Dominican Republic. The government and Union Fenosa agreed to a discount on the debt agreement reached during the buyback of the company’s shares by the former administration in September 2003. …

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Newly re-elected Senate president, Andres Bautista, said that the DR-Cafta deal would be passed by Congress if there was an equal distribution of the tax burden and the compensatory measures for the industrial sector were well done. Bautista also called for “a larger and more efficient social investment.” Bautista, speaking to the Senate after his …

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Piedra Blanca is a small town on the highway leading from Santo Domingo to Bonao. For most people it is best known for being the crossroads for Cotui and San Francisco de Macoris. In spite of this, a dispute over choosing the local municipal council leader led to a shoot out that resulted in four …

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Businessman Sam Goodson, aka Shlomo Ben-Tov, was arrested at his residence in Miami yesterday as part of the extradition petition filed by Dominican Attorney General Francisco Dominguez Brito for Goodson’s part in the RD$1.8 billion scandal that revolved around Plan Renove. Goodson had been declared a “fugitive from justice” by the Dominican courts, and had …

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President Leonel Fernandez and First Lady Margarita Cedeno cut the ribbon during the opening ceremony of the XXIII National Visual Arts Biennial which is being held at the Museum of Modern Art in Plaza de la Cultura. This is the most important exhibition and contest of selected works by Dominican artists and foreigners resident in …

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President Leonel Fernandez has instructed all public and de-centralized government institutions to reduce fuel and energy consumption by 20%, as reported in the Listin Diario. This measure is aimed at easing the adverse situation produced by the constant increases in prices of crude oil on the international market. The information was offered by the Presidential …

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The Venezuelan Ambassador in the DR has denied that his government is opposed to the Dominican Republic receiving the benefits of import financing within the Petro-Caribbean agreement, signed recently in Caracas. This came as a reaction to statements made by the president of the Dominican Petroleum Refinery (REFIDOMSA), Aristides Fernandez Zucco, who warned against Venezuela’s …

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