2008News

Awaiting Ike

Authorities are now monitoring Hurricane Ike that is expected to bring rains. National Meteorological Office director Gloria Ceballos explained that by Saturday Ike is expected to be near the DR’s north coast, but sufficiently north to not cause major damage. However, close monitoring of the storm is cautioned. Officials are also keeping their eye on …
2008News

School still closed

The Ministry of Education suspended classes at all schools, including the Autonomous University of Santo Domingo (UASD). Education Minister Melanio Paredes nevertheless said that private schools were allowed to resume classes at their discretion. The UASD University has also canceled classes and administrative activities, until further notice.
2008News

Financial free zones a plus

Senator Amilcar Romero said that the Financial Free Zone Bill just passed in Congress and pending enactment by President Fernandez will attract investments for US$650 million, and create 26,000 jobs from now until 2011. The bill paves the way for new investments in financial and banking activities and services, insurance and re-insurance, financial markets and …
2008News

Blackouts reported

Up to 18-hour blackouts are being reported throughout the DR. This time the blackouts are attributed to the passing of Tropical Storm Hanna. Strong winds knocked down power lines, interrupting service. Energy distributor EDE Este announced that 70 circuits were not working as of yesterday, which translated into 138,000 users without power. EDE Este officials …
2008News

The wrong solutions

Manuel Diez Cabral, president of the Association of Industries of the Dominican Republic, said that the agreement for US$460 million in financing by the government to the power distribution companies is just a way of prolonging the critical situation, not resolving it. “Not only does it increase the foreign debt, but it uses treasury funds …
2008News

Where were the consumers?

Lawyer Marisol Vicens writes today in El Caribe that missing from the electricity negotiations, where the government is deciding on its next steps for dealing with blackouts and high electricity costs, were the consumers. Neither industrial nor residential consumers were present, only the government and generation and distribution companies. She criticizes the lack of transparency …