2007 – Page 278

Figures released by the Dominican Sugar Institute (INAZUCAR) reveals that during the 2005-2006 sugar production season the DR only produced 490,350 metric tons of sugar, which wasn’t enough to cover domestic demand or fill the export quota to the United States. This collapse is blamed on a lack of capital.

Darys Estrella, one of the founders of Dominicans on Wall Street, has been chosen to take the Dominican Bolsa de Valores, the local stock exchange, to a new level. Currently, the DR stock exchange primarily works with commercial papers. The Financial Times was the first to release the news, with a brief in its 19 …

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Although some sectors in Montecristi and Samana provinces want to see the compensation money from the rock ash case invested in their communities, Environment Minister Max Puig says that it will be used to pay for the rock ash removal. According to Puig, the removal of the substance will ultimately benefit the surrounding areas. Puig …

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Former Mexican President Vicente Fox was in the Dominican Republic over the weekend, representing the Christian Democrats of America Organization at the Social Christian Reformist Party’s (PRSC) Second Congress named in memory of their late leader, former President Joaquin Balaguer. Before his departure, Fox commented that the Dominican Republic needed to be governed by a …

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National Transport Federation (FENATRANO) president Juan Hubieres is claiming that the government has broken its pact with union leaders and warns that as from this moment anything, like the stoppage of bus services or a national protest, could happen. Hubieres said that drivers could increase fares to RD$ 20.00 tomorrow, and that they hadn’t done …

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Jevitos are what Dominicans call the youths that drag race on main city roads late at night. The races have killed several that were in the wrong place at the wrong time. For the first time, the Police announced yesterday the names of eight youths that were arrested for racing on the Mirador del Sur …

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Heavy rains across all areas in the Dominican Republic are expected on Tuesday and Wednesday as the front moves northwards across the DR. Recent reports also indicate that temperatures have continued to increase and remain between 30 and 33 degrees Celsius (86 and 91 Fahrenheit), which is unusual for this time of year.

Edgar Sosa and Sammy Mejia have been honored for their splendid play on the hardwood this season. Sosa, a point guard at Louisville has started all but two games for the Cardinals and was included in the Big East All-Rookie Team. He was also named player of the week in the Big East. Mejia, who …

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President Leonel Fernandez traveled to Georgetown, Guyana to attend the XIX Summit of the Rio Group. This presidential summit brought together leaders from Mexico to Argentina. This was the chief executive’s 27th trip during this term of office. In his speech, the President argued strongly for increased support for Haiti and the continued presence of …

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Franco Uccelli, who covers the DR for Bear & Stearns has released a positive outlook report on the Dominican Republic following a recent field trip to the country. He reaffirms the firm’s “outperform” recommendation on the credit. “We view the Dominican Republic as an improving credit story, supported by its relatively strong economic performance and …

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