2006 – Page 25

One of the world’s leading solar energy companies is opening two factories in the Dominican Republic with an initial investment of more than EUR100 million and plans to invest as much as EUR1.0 billion over the next ten years. The president of the National Energy Commission, Aristides Fernandez Zucco announced that Isofoton, the world’s fifth …

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According to most reports, Verizon International handed over a check for US$170 million (RD$5,625,500,000 at the current exchange rate) and ended the legal process that was seeking a payment of US$518 million. The payment will allow the takeover of Verizon’s operations in the Dominican Republic by the Mexican firm of America Movil, owned by billionaire …

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Due to a lack of financing, the start-up of construction on the coal-fired electricity generators in Azua and Manzanillo is still on hold. Neither the Chinese nor any of the other Asian investors have come up with the money so far, according to Listin Diario. There is a US$30 million letter of credit still pending. …

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The Dominican Corporation for State-owned Electricity Enterprises (CDEEE) has asked the President to submit a bill penalizing electricity fraud with severe economic sanctions and prison terms to Congress. The proposal has been reviewed by a special Presidential commission and would grant discretionary powers to the local electricity companies (the EDEs) to determine whether fraud exists, …

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Traffic on the nation’s major north-south thoroughfare, the Autopista Duarte, is being diverted at the Cruce de Controbas on the way to San Francisco de Macoris. The Public Works Ministry needs to repair a small bridge in the community of Ranchito that was partially destroyed during recent heavy rains. The detour will last until 9 …

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According to Airport Department head Andres Vanderhorst, local authorities are expecting at least 100,000 overseas-based Dominicans to return for the Christmas holidays. Vanderhorst commented that the government had increased customs facilities to encourage more visitors this year. A full 7% increase is expected over last year’s numbers. The airport official said that he and his …

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The Central Electoral Board (JCE) has approved some really “juicy” pension settlements for former and recent members of the board. Both El Caribe and Diario Libre comment on just how good these pensions are. According to the articles, recently substituted JCE chief magistrate Luis Arias will receive RD$159,250 (US$5,000) each month for the rest of …

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The National Police have shot and killed two of five men who kidnapped, murdered and burned Luis Fernando Rodriguez Montan. The three remaining criminals were captured, and confessed to their crimes. Rodriguez Montan was kidnapped on Friday afternoon while at a house he owned in the Juan Pablo Duarte barrio in East Santo Domingo. The …

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After causing chaos in Santo Domingo, the New Option National Federation of Transportation (Fenatrano) and the Cibao Drivers Union shut down traffic on the Duarte Highway for three hours in protests that resulted in broken glass and tear gas grenades. The unions were protesting against Expreso Vegano’s operation on the La Vega-Santo Domingo route. The …

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The National Investigation Department (DNI), together with the United States Secret Service and the District Attorney’s office in Santo Domingo, has dismantled a counterfeiting operation to make fake currency, passports and bank checks. In their search of the premises, investigators seized a printing press and $400,000 in fake currency. The headquarters for the operation was …

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