2005 – Page 61

A consultancy panel of the World Trade Organization (WTO) is studying a complaint filed by Costa Rica on 12 September, stating that the application of the 13% exchange rate commission affects their imports to the DR, as reported in Listin Diario. According to the WTO webpage, there are three cases concerning the DR’s trade activities …

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Monetary authorities are attributing the increase in the foreign exchange rate to a “bubble” of apprehension and speculation, whereas representatives from the financial sector say it is the result of the higher demands placed by importers wanting to replace their inventories before December. Yesterday, the US dollar was selling for RD$33.50 and RD$33.80 on the …

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A merger between Falconbridge and Inco has been announced by the Boards of Directors of both companies. The new global company will by based in Canada. The definite agreement, whereby Inco will purchase all Falconbridge’s circulating stock, prior to the approval of all shareholders, will be called Inco Limited. The announcement was made by Derek …

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TRICOM has announced it is implementing an energy project which will allow it to produce direct current to operate telecommunications equipment. The project is based on hydrogen, according to a report in Diario Libre. This energy solution is being implemented in Lomas de las Petacas, Bahoruco Province, as that location does not have a mains …

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The Director of the Dominican Telecommunications Institute (INDOTEL) has stated that the new 829 area code will come into use on 1 November 2005, for wireless and conventional communication. During a press conference, Jose Rafael Vargas said that the new code is going to be implemented because the current 809 code is not sufficient to …

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The Autofuturo 2006 car fair will take place from the 20th to the 23rd of October in the Ferreteria Americana parking area. During the fair, new 2006 models will be offered at introductory prices and 2005 models will be on sale. It will be open from 10:00 am to 11:00 pm. The leading concession firms …

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Cinemateca Dominicana has been showing a cycle of films called “100 years, 100 movies: Hollywood Memoirs”, which it has decided to extend until 26 October 2005. The cinema had chosen 28 films for the original cycle and now a further 28 films will be screened. “Psycho” and “The Silence of the Lambs” will be showing …

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JLo’s participation in the Presidente Latin Music Festival has become the entertainment news of the day. The actress and singer of Puerto Rican origin, Jennifer Lopez, will share ‘moments of fame” with her husband Marc Anthony on the opening night of the festival. Her performance is said to be two songs, or approximately five minutes, …

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The forecast is for rains throughout the weekend, so those attending the Presidente Latin Music Festival should go prepared. DR1 Weather & Beyond’s Current Weather thread explains that the soft penetrating rain will continue for a few days yet. The thread explains that the main problem continues to be heavy rain with abundant moisture being …

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President Leonel Fernandez leaves for Spain today, to attend the XV Ibero-American Summit meeting in Salamanca. The 8-day trip includes bilateral meetings with Mexico’s Vicente Fox, and Colombia’s Alvaro Uribe, to discuss energy issues. The DR has announced the upcoming signing of a petroleum agreement with Colombia. At the summit, Fernandez will propose the exchange …

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