2007 – Page 118

President Leonel Fernandez resent a bill to Congress that sets the legal framework for the creation of international finance zones in the DR seeking to lure major banking deposits from foreigners. The bill establishes best practices and creates a Unit for Finance Intelligence to prevent and identify money laundering and criminal financial activities, as well …

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For the first time in three years, since 2004, the trade balance of the DR is showing a trade deficit. Hoy newspaper analyzes that at the end of the Hipolito Mejia administration (January-June 2004), the country enjoyed a trade surplus of US$807.9 million. A year later, in 2005, the trade surplus had declined to US$76.8 …

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The president of the Dominican Association of Free Zones, Fernando Capellan alerted that the DR has become a very expensive country and has taken the wrong path, as reported in Hoy. He favors that the exchange rate be adjusted to reflect the costs of the country. Capellan said that the high production costs do not …

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Father Jorge Cela, S.J., a noted educator and anthropologist, warned that all the talk about academic excellence is worthless if the government is the right investments are not made in education. He said that with poor school buildings, poorly paid teachers responsible for as many as 70 students in a classroom. “You cannot just talk …

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The Ministry of Education has decided to allow students that failed the recent National Exams to retake the tests. The ministry’s Resolution 2985-2007 will allow students that did not earn a passing grade in the previous examination to have one more chance, and, at the same time, it will allow students that were registered for …

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A recent poll carried out by the Gallup for Hoy newspaper revealed that just 58% of the households in the Dominican Republic are able to meet their monthly expenses. The poll showed that 18% of the households cover their expenses rather comfortably, and that 40% manage to cover expenses either barely or using creativity. The …

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Congress has retaken discussions on abortion in the DR, and heated debates continue to take place. The reopening of the discussions happened after President Leonel Fernandez vetoed the bill that modified the Penal Code. As reported in the Listin Diario, those who favor removing penalties from abortion in the case a woman has been a …

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The “En otro tono” (in another voice) column in the El Caribe reports an interesting change of pace by the newly placed Chief of Police. On Saturday, the newspapers reported that the chief said that the police do not need to have military units assisting them in their duty to patrol the streets of Santo …

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After its re-opening, the Monument to the Heroes of the Restoration in Santiago de los Caballeros has become a tourist attraction. On Sunday, alone, the ticket office took in over RD$23,000. Tickets are just RD$20 for locals and RD$80 for tourists. There are five levels to explore, aside from the newly redesigned gardens and their …

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The Dominican Corporation of State Electric Enterprises (CDEEE) is planning to eliminate 16 power stations from its networks as soon as the new hydroelectric and coal fired plants are on line. According to the Listin Diario, there are 410 megawatts coming online from the various dams and there is planned another 1200 megawatts from the …

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