2006 – Page 293

A small Cessna 172 belonging to Caribair crashed and burned shortly after take-off from the Arroyo Barril airport on the south side of the Samana peninsula. The plane had come from Punta Cana and had dropped off some passengers, and was going on to Portillo to pick up others. Three people perished in the crash: …

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According to Central Bank officials, the new RD$10.00 and RD$25.00 will begin to circulate at the end of February. However, opinion seems to be divided on the question of just how necessary the new coins really are. Public car drivers seem to like the idea, according to Diario Libre, but traders, students and professionals appear …

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President Leonel Fernandez has submitted to Congress a financial agreement between the Dominican state and the Banco Bilbao Vizcaya Argentaria (BBVA) of Spain for a total US$8.081 million, which is to be used for the purchase of transportation equipment for the police and the Citizen’s Security Program. The interest rate on the loan will be …

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The president of the Association of Hardware Retailers, Luis de los Santos said that the sector’s sales have increased over the past months, and pointed out that prices have dropped by as much as 50%. Diario Libre reports that de los Santos was speaking at last night’s VII Expo Ferretera Internacional 2006 fair, in the …

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According to Bear Stearns analyst Franco Uccelli, Wednesday night was a very productive and positive night for the Dominican Republic, as the Chamber of Deputies approved the government’s 2006 budget in two consecutive readings. The US$6.9 billion spending bill included a last-minute addendum for some US$25 million in additional funding for NGOs, municipalities, public health …

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The presidents of the Senate Finance and Public Works commissions warned yesterday that the higher chamber of Congress would not approve the Budget Bill until the government identifies the source of funding required to complete the metro. According to a report in Listin Diario, Senators Rafael Diaz Filpo and Vicente Castillo both stated that this …

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A total of 1,251 non-governmental organizations (NGOs) have been included in the budget bill as a result of negotiations between the government and lawmakers. This is 290 more than those that were excluded from the original bill presented to Congress on 22 December. The 3,655 NGOs on the budget will receive a total RD$1.301 billion …

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The Board of Directors of Banco del Progreso has indicted former bank executive president Pedro Castillo, whom they accuse of theft, swindling and breach of trust for having incurred wasteful spending and bad deals for amounts totaling RD$11.2 billion. Diario Libre reports that after three months of investigations, audits and data retrieval, the bank’s executives …

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The winner of a tender held by the Dominican State-Owned Electric Companies Corporation (CDEEE) to build two 600-MW coal generated power plants, “Emirates Power DR, S.A.”, is really a company originally called “Tenedora Rouen, S.A.” which hastily changed its name on 3 August 2005 in order to take part in this operation, and has nothing …

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Starting today, the Metropolitan Transit Authority (AMET) will stop retaining driver’s licenses from individuals receiving tickets for traffic violations. Since yesterday, the organization has an automated infraction system that allows it to see a person’s data and type of violation committed, as reported by Diario Libre. This was announced by AMET director, Jose Sigfredo Fernandez …

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