2008 – Page 75

Seems like the Dominican Republic will be spared the brunt of Tropical Storm Omar that is making its way from the southern Caribbean to cross Puerto Rico. The weather forecasts are for rains, but not with the intensity that would have happened if the storm had come closer to the DR. The forecast for the …

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The president of the Dominican Senate, Reynaldo Pared Perez and the head of the Chamber of Deputies, Julio Cesar Valentin, have agreed to invite the leaders of the Dominican Medical Association CMD) to discuss their demands on behalf of public hospital doctors. Pared Perez said that the meeting could take place this very week, as …

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Environment Minister Jaime David Fernandez Mirabal has warned that this is the last week that construction companies will be allowed to use riverbeds as gravel pits. Five companies were granted extensions for their operations and these expire this week. According to Listin Diario, Fernandez Mirabal said that if there is any resistance to the closures, …

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Gasoline and diesel prices went down significantly over the weekend. The Ministry of Industry and Commerce set a RD$10 reduction in the price of premium gasoline, a RD$12 reduction in the price of regular and an RD$8.20 reduction in the price of a gallon of regular diesel fuel. Even LPG went down a bit, by …

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Radhames Segura, executive vice president of the CDEEE, has admitted what everyone knows – that the recent blackouts are caused by the government being behind in its payments to power generators. Hoy cites a source linked to the private generators, claiming that the government is US$373 million behind. The generation companies shut down to pressure …

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Economist Pavel Isa Contreras predicts that sales will be down this Christmas due to the global financial crisis. He said inventories may not be restocked and there will be a reduction in profit margins. According to El Caribe, “this translates into a lower demand for goods and services from stores, and this will increase unemployment.” …

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The inflation rate for the first nine months of the year has hit double digits, according to the Central Bank. The bank reported that the Consumer Price Index (CPI) was up 2.38% in September in comparison to August and this puts the nine-month inflation rate at 10.76% for the year so far. The Central Bank …

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The Dominican Chambers of Commerce Federation (Fedocamaras) says that the government’s economic team needs to take measures to better prepare the DR for the effects of the global financial crisis. Fedocamaras says that the fact that the government is optimistic is a positive thing, because the government’s role is to generate confidence in the economic …

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Darys Estrella, CEO of the Dominican Republic Stock Exchange, was named “Professional of the Year” at the Dominican-American National Roundtable (DANR) 11th Annual Gala celebrated in Providence, Rhode Island on Saturday, 11 October 2008. She also received citations from the United States Senate, State House of Representatives and State Senate of Rhode Island and the …

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The Venezuelan government has sent a delegation headed by President Hugo Chavez’s special assistant Johnny Janne Rangel to oversee the distribution of the houses Venezuela donated to victims of the flooding from Tropical Storms Olga and Noel last year. The commission said it was satisfied with the social work being done, and they met with …

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