2008 – Page 174

International Monetary Fund economists report an increase in international banking in DR-CAFTA countries, with the exception of the DR. The economists said that two foreign banks were forced to leave the DR banking sector because they encountered “ferocious competition” and couldn’t adapt to the country’s finance culture. Republic Bank and CitiBank both ceased operations in …

Read more…

Tourism Minister Felix Jimenez says the DR has become a popular vacation destination for Swiss travelers. During a press conference in Zurich, Jimenez said that Swiss tourism grew by 7.2% during the first five months of the year and grew by 25% in May.

The National Council for Private Business (CONEP) has released its “diagnosis” of the Dominican economy. According to the report, “The Dominican Economy: Pending macroeconomic and sectorial challenges”, economic growth has been unbalanced. “Evidently, we are experiencing very asymmetrical growth, in that sectors that drive the economy and should be growing aren’t doing so.” The report …

Read more…

Lisandro Macarulla, president of the National Council for Business (CONEP) says that the Central Bank’s current monetary policy affects the nation’s productive sectors. “A monetary policy that increases interest rates, increases the cost of money and limits access to financing, affects productive sectors that need to evolve in order to be more competitive.” He added …

Read more…

During a ceremony at the Presidential Palace yesterday, three teachers were honored for their years of service to the Dominican educational system. The awards were part of the celebrations for National Teachers’ Day. Teacher Alejandrina Cruz, who’s been teaching for 30 years, was awarded a RD$150,000 prize, while Gregorio Santamaria, a teacher for 20 years, …

Read more…

State university UASD rector Franklin Garcia Fermin held a press conference yesterday to confirm the scandalous results in tests on the Ministry of Education’s public school breakfast drink. Blind tests by the UASD Agronomy Sciences School’s milk lab, considered the best in the country, confirmed that samples of Ladom milk given to public schoolchildren contain …

Read more…

Boston Red Sox slugger Manny Ramirez is in the news again and not for the best reasons. The usually laid back slugger is reported to have pushed Red Sox’s traveling secretary John McCormick after McCormick was unable to fulfill Ramirez’s ticket request for a game against the Tampa Bay Rays. McCormick said that it would …

Read more…

Michel Inoa has been awarded a US$4.25 million signing bonus after agreeing to terms with the Oakland Athletics. The bonus is the highest ever awarded to a Dominican MLB prospect. Willy Mo Pena (US$2.44 million) and Irvin Joel (US$2.25 million) held the previous highs. Some bloggers are saying that Inoa’s bonus could be the highest …

Read more…

Plaza Lama is advertising green plantains for RD$6.95ea, eggplant for RD$4.95lb, potatoes for RD$12.95lb, carrots for RD$5.95lb, smoked pork chops for RD$68.95lb, broccoli for RD$11.95lb, and Dutch Gouda cheese for RD$199.95lb. Bravo supermarket is offering 30% off on fruits and vegetables today. Jumbo is advertising watermelon for RD$4.95lb, cucumbers for RD$3.95lb, sweet potatoes for RD$5.95lb, …

Read more…

The US Embassy is inviting the public to free performances by the jazz-country music band, Igor’s Jazz Cowboys, from Arizona. Shows will be Saturday, 5 July at the Governor’s Palace in Santiago at 7:30pm and Monday, 7 July at the Instituto Cultural Dominico-Americano in Santo Domingo, also at 7:30pm. The presentations are preceded by classes …

Read more…