2008 – Page 103

Several government departments have just become places to park people with political influence, writes Fausto Rosario in Clave Digital in a report on the many defunct offices that still have large payrolls, at the expense of taxpayers. The departments mentioned include the Commission for the Reform of Public Enterprise (CREP) that was created during the …

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The trade deficit between the US and the DR was at US$1.6 billion for the first seven months of year. The continued deficit in trade (when imports are higher than exports) is raising concerns about the DR-CAFTA agreement and its benefits for the DR. Critics say that these numbers contradict trends for other Latin American …

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US Commerce Secretary Carlos Gutierrez is expected in the DR this month. He is heading a business delegation of US exporters on a tour of the DR, Nicaragua and Costa Rica, starting 28 September. The US is pleased with the agreement. “CAFTA-DR is transforming the competitiveness of the Western Hemisphere in the global marketplace,” said …

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Despite continued concerns that have threatened to derail the European Union/Cariforum European Partnership Agreement (EPA), the Dominican Republic and 12 other nations have decided to sign the agreement. In a Caribbean Heads of Government Summit held in Barbados, islanders decided on a 15 October signing date, but Foreign Relations Minister Carlos Morales said that that …

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Latin American Airport Holdings (LAAH recently purchased Aerodom’s rights to manage the Las Americas (SDQ), Puerto Plata (POP), La Isabela (JBQ), Samana (AZS) and Barahona (BRX) international airports for US$400 million and committed to invest US$1 billion in improvements over the next five years. Aerodom and LAAH officials met with President Leonel Fernandez. Advent International …

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Fourteen of the 22 political parties and movements that participated in the 16 May presidential elections have yet to submit financial reports to the Central Electoral Board (JCE), detailing spending costs for the 2008 electoral campaign. The list includes the PLD, PRD, BIS and a long list of minor parties. Only the PRSC, PQDC, PAP, …

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Judges have sentenced executives from the collapsed bank Bancredito Arturo Pellerano and Juan Felipe Mendoza to eight years in jail and imposed a RD$2.5 million fine for defrauding clients to the tune of RD$20 billion. The pair had originally been sentenced to three years in jail after a 2006 ruling. This sentence follows an earlier …

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Judge Francisco Mejia Angomas has postponed hearing former Baninter executive Vivian Lubrano de Castillo’s house arrest petition until 26 September. Lubrano has been sentenced to five years in jail for her role in the Baninter banking scandal, but claims to have serious health problems and is asking to serve her five years under house arrest. …

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Martin Sterling Villalon, son of Senator Noe Sterling Vasquez (Barahona-PRSC) posted RD$1 million bail and must report to a judge every Monday as part of his bail conditions. Prosecutors have also brought charges against Kelvin Santana, while Domingo Marmolejos was sent to jail for18 months in preventive custody. According to reports, officials were able to …

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Olympic champion Felix Diaz has invested his RD$7 million prize awarded by the government and will use the RD$600,000 prize he received from Tricom to take care of his present needs. Diaz will continue to live in the Barquita neighborhood where he grew up. Diaz said that he had a family and had to secure …

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