News – Page 7697

Donald Cott Creus, executive director of the Bolsa de Valores de Santo Domingo (BVSD), the national securities exchange that began operations in December 1991, said that it expects the first share issue to be undertaken this year. So far, the Santo Domingo securities exchange has been transacting solely in commercial paper. Mr Cott believes a …

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Economist Jaime Aristy Escuder believes that the security exchange market should incorporate modern elements as soon as possible. He said that the competition for investment within the region, makes the postponement the changes to adapt the exchange to modern times not possible. “The development of securities markets is a basic prerequisite to a stable and …

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The exchange rate was stable in Santo Domingo following the announcement of the Central Bank of its intention to inject US$20 million into the market. The market had experienced some instability attributed to electoral jitters and purchases made by the Dominican Petroleum Refinery. The rate was an average RD$13.25 for purchasing U.S. dollars and the …

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The Dominican communications company (CODETEL), which owns the public telephones in Santo Domingo, says that callers will now be able to use the Comunicards to make calls to the 200 and 800 lines, or for DDD and local calls, thus avoiding the use of cash. Likewise, for emergency calls. The telephones have also been programmed …

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Raisa Gil de Fondeur, executive vice president of the Banco Nacional de Crédito, said that the country must enter now into new era of financial sophistication. She said there is the need to create medium and long term funding for business and advocated the creation of a capital market where companies can issue shares, bonds …

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Burger King opened a branch in Santiago, becoming the first major international fast food chain with a presence in that city. The chain has two cafés in Santo Domingo. Burger King’s new Santiago branch is on Avenida Juan Pablo Duarte at the corner of Estrella Sadhalá.

The Ministry of Industry and Commerce, Doctor Jose Ramón González Pérez, has announced the approval of five new industrial free zone companies, bringing a total investment of RD$51.5 million. The new industries are in the parks in Las Americas, Bani, Santiago and La Vega. The companies are Gta International (medical items), Gaeir Industries (textiles), InterCaribbean …

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A proposed increase in the minimum wage in the United States would benefit the industrial free zones of the Dominican Republic, where some 30,000 jobs have been lost as a result of the entrance of Mexico to the North American Free Trade Agreement. The proposed increase has the support of both the Democrats and Republicans. …

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The construction sector grew by 6% in 1995, which places the country in second place in the Americas in this area of the economy. Chile has the construction sector with the greatest growth in Latin America – 11%. Brazil came in third. Engineer Diego de Moya, president of the Dominican Construction Chamber, provided the figures. …

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Sugar industry experts are forecasting that there will be a deficit of 100,000 short tons on the local market this year, that will have to be covered by imports as most of the Dominican production will go to fulfilling its commitments in the preferential U.S. market. National consumption is estimated at 315,000 metric tonnes a …

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