2005 – Page 4

The National Development Council approved the 2006 budget last night. It was set at RD$238.55 billion and will be submitted to Congress next week. The Council reported that RD$38.1 billion will go to “General Services”, RD$90.7 billion for “Social Services”, RD$46.0 billion for “Economic Services”, RD$1.21 billion for environmental protection and another RD$72.28 billion for …

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The United States Trade Representative spokesperson Christin Baker has gone on record stating the US government would announce whether any of the DR-CAFTA signatories would be ready by 1 January before the end of the year. “After 1 January, the United States will put the agreement into force with the other countries on a rolling …

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The Dominican Republic will continue to enjoy the protection of the Caribbean Basin Initiative (CBI) whose implementation dates back 1984. The CBI will allow the Dominican Republic to export goods manufactured in the country to the United States under favorable conditions. According to US Trade Representative spokesperson Christin Baker, the United States is looking to …

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Law 557-05 that deals with the recent tax reform will kick in on the first of January, and housewives will be facing higher prices for some very important items. Salt cod, salted herring, matches and even toothpaste will go up at least 16% with the VAT tax that will be applied for the first time. …

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The recent economic recovery and the new appraisal of its foreign credit standing gives the Dominican Republic a stellar performance over the last year, according to the PIMCO Year in Review. The Dominican Republic has surprised observers and market analysts with the highest results within the ascending countries with its 25% yield, followed by the …

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In what is sure to raise some eyebrows and telephone calls to lawyers, the CDEEE announced yesterday that it had selected four companies for the final bidding on the two 600 megawatt, coal-fired power plants that are aimed at ending the Dominican Republic’s energy crisis. Of the 24 companies that obtained the documentation for the …

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The magistrate at the Second Court of Instruction has imposed bail bonds totaling over nine million pesos on Quirino Paulino Castillo’s relatives. The family members are accused of money laundering. Paulino Castillo’s mother, wife and brothers were prohibited from leaving the country by magistrate Vanesa Acosta who also added Quirino’s son, Anderson, who is currently …

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Because its owners had installed a satellite tracking system (in this case Lo Jack), a Mitsubishi Montero was recovered within hours of being stolen. The vehicle was reported stolen between 10:00 pm and 11:00 pm, and by 11:20 the company had received signals from the vehicle that traced its movement. Because the companies that install …

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The director of Civil Aviation Board, Norge Botello told reporters from Hoy newspaper that he “didn’t know about the number of illegal flights” that take place in Dominican airspace. Botello excused himself by saying that it was the Armed Forces and the Dominican security forces responsibility to watch out for these things. Botello said that …

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The Tigres del Licey carried off the regular season championship for the 17th time. Likewise, the Aguilas Cibaenas have assured their participation in the round robin play offs. At press time the Estrellas, who had lost the first game of a rare twilight double-header by a score of 8 to 1, were leading 4 – …

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