2010 – Page 226

Power has now been restored in San Pedro de Macoris after three days of total blackouts. The blackouts were caused by an explosion at the 104-megawatt transformer at the San Pedro I substation. San Pedro is now receiving power from Boca Chica, to the west. Two people were injured in the explosion. Power has also …

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The US$750 million in sovereign bonds recently sold in New York will cost the country US$5,625,000 a year in interest payments. These payments will be made every six months and will total US$2.8 million. This means that over the 11-year life cycle of the sovereign bonds, the government will pay US$58 million in interest. Since …

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The Ministry of Education has once more suspended the purchase of milk for schoolchildren from Lacteos Dominicanos (LADOM), the largest supplier of milk to the nation’s school breakfast programs. Education Minister Melanio Paredes announced the decision came after he concluded the company “had a serious credibility and trust problem” within the school population. Within the …

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With Cesar Pina Toribio representing President Fernandez and cutting the ribbon, Coastal Dominicana has inaugurated a huge tank farm on the south coast, with a capacity for storing a million barrels of petroleum products. The storage depot will supply the local market as well as markets on other islands in the Caribbean. Puma Dominicana, S.A. …

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The Itabo Electric Generation Company (Itabo) has paid the government the sum of RD$486 million as their share of the company’s profits from last year. The money was handed over in the presence of President Fernandez during a ceremony at the Presidential Palace. According to El Caribe, the AES Dominicana Group, a partner in the …

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The First Forum on Business and Investment for the Rebuilding and Sustainable Economic Development of Haiti has led to alliances between Dominican, European and United States companies that should create jobs and assist in the rebuilding of the devastated nation. The forum made it possible for more than 300 national and international businesses to get …

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Dominican exports to the rest of the Caribbean grew from US$35 million in 2006 to US$135 million in 2008, and this means that today’s numbers are a lot higher. This information demonstrates that the Dominican Republic can make the most of markets such as Jamaica, Trinidad and Tobago who received 58% of our exports. The …

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Carlos Fuentes, one of Latin America’s most important writers, has called for the strengthening of the nation’s education system saying, “Education is the basis of everything, without education there is no development, no progress….” Fuentes gave his speech while receiving an Honorary Doctorate from the Pontifical Catholic University Madre y Maestra in Santo Domingo. Fuentes …

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The Spanish Attorney General estimates that Arturo del Tiempo Marques, who was not known to have any business ventures in this country, “exported” at least two containers of “marble” to Spain each month. It is believed that the owner of the Atiemar Tower disguised shipments of cocaine and other controlled substances in these shipments, reports …

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The National Police are openly expressing their concern about the large number of alleged criminals in possession of two “cedulas”, the personal identification and voter registration card carried by all legal residents and citizens over the age of 16, as reported in Diario Libre. The Police say that this has come to light when people …

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