News – Page 7677

The president of the Asociación de Industrias, the organization that groups industries in the country, Celso Marranzini, joined the opposition to the proposed sale of 30 million meters of land by the State Sugar Council (CEA) on the eastern bank of the Ozama River, adjacent to the Ave. Charles De Gaulle extension. President Balaguer had …

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President elect Leonel Fernandez Reyna said that the Dominican foreign service will be subject to restructuring. “We have spoken of the need for the Dominican Republic to become part of the globalization phenomenon and that will necessarily imply a process of modernizing our foreign service,” he said.

On Saturday, 6 July, President Balaguer opened the Complejo Hidroeléctrico Río Blanco, a mega hydroelectric complex, built at a cost of R$1,536 million. The combination of three dams can generate up to 25,000 kilowatts of electricity when at full capacity. The dams are in the Cordillera Central mountains on the Río Blanco, Arroyo Tireito and …

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McDonald’s, a U.S. hamburger cafeteria chain will open in Santo Domingo this November. The initial investment is estimated as above US$850,000 and includes the cost of purchasing the franchise. McDonald’s will open three cafeterias in its first year. According to a news story in the Listin Diario, the McDonald Corporation feels this country could become …

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The Foreign Investment Law, expected to be a strong support to economic reform in the country, which was approved more than a year ago, could finally go into effect. The president of the Asociación de Empresas de Inversión Extranjera told the press last week that work is advancing on the merging of the rulings suggested …

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Coffee prices on the world markets are up, due to the expectations of a freezing weather in Brazil. World market prices have increased to US$121 per 100 pounds, four points more than last week. The increases could benefit Dominican coffee exports that stand at 550 thousand bags per annum, generating US$65 million dollars last year. …

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The newspaper Hoy has reported that President-elect Leonel Fernández could rely on a trio of economic advisors. The body would be made up of two Dominican advisors and a third, a foreigner with experience in restructuring and modernization in the economies of Latin America. The foreign member would not have to be permanently resident in …

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Rolando Florian Feliz, a convicted drug trafficker who was recently arrested by the National Police, is believed to have planned the murders of the head of the Drug Control Agency (DNCD), Admiral Julio Cesar Ventura Bayonet, journalist Claudia Fernandez and politician Marino Vinicio (Vincho) Castillo. These plans were apparently revealed during the questioning of Mr. …

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The mayor of Santo Domingo, Rafael Subervi Bonilla, has announced the erection of six new sets of traffic lights in the capital, designed to reduce traffic jams and the risk of accidents. The new lights are at the corners of Avenida San Martin and Dr. Delgado, San Martin and Leopoldo Navarro, San Martin and Tiradentes, …

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The general director of the Instituto Dominicano de Seguro Social (IDSS), Admiral Orestes Guerrero, assured the suppliers to the government’s medical insurance plan that the more than RD$100 million owed to them will be paid little by little as the IDSS gets back on its financial feet. Just days before his comments last week, Admiral …

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