2016 – Page 133

A total of 69 people have been intercepted while trying to make illegal boat crossings to Puerto Rico. According to the Dominican Armada (Navy) a total of 33 Dominicans have been intercepted near La Romana in a boat, a truck and a motorcycle. On Sunday, 14 February 2016, in a joint operation with the United …

Read more…

Romantic song fans should not miss a concert by Sergio Vargas, Diomary La Mala and Ramon Orlando this Friday, 19 February 2016 at the Barcelo Santo Domingo’s La Mancha hall. The popular hits to be played include: Sergio Vargas: Como un bolero, No me importa, Brindo por ti. Ramon Orlando: No hay nadie mas, Que …

Read more…

The Ikea store in Santo Domingo, the only full store in the Caribbean and Central America, has announced a sale as a warm-up to it sixth anniversary this weekend, 19, 20-21 February 2016. Check the ikea.com.do website for some of the sales and other news about the sixth anniversary. The Ikea store is located on …

Read more…

President Danilo Medina has told the press that while former President Leonel Fernandez will take part in his re-election campaign, the main player needs to be the candidate himself. Speaking to journalists at the end of a vehicular procession known as a political caravan that lasted almost 10 hours throughout the eastern region of the …

Read more…

The Dominican Republic’s bonds have provided a haven from the rout in Latin American government notes and has protected overseas investors, reports Bloomberg. The business wire says that Dominican securities have returned about 9% in the past year when measured in dollars, compared with losses of more than 30% for bonds from Brazil and Colombia. …

Read more…

Fernando Rosa, president of the Capitalization Fund of Reformed Government Enterprises (Fonper) has announced the sale of 50% of shares of La Tabacalera to Japan Tobacco International. The shares were owned by City Caribe, a Santiago-based group. The Dominican government owns the remaining 50%. The sale was for US$14 million, as reported in Diario Libre. …

Read more…

The Tax Agency (DGII) reports that 57% of their revenue comes from consumer taxes and 43% from income taxes in 2015. DGII contributed 73% of taxes to the government, with Customs providing 22% and Treasury 5%. Consumer tax revenue was up 3% compared to 2014, as reported in Diario Libre. http://www.diariolibre.com/economia/el-consumo-aporta-el-57-de-impuestos-y-la-riqueza-el-43-GJ2748954

President Danilo Medina has appointed Enrique Radhames Segura Quinones, a son of the former director of the Public Electricity Corporation (CDEEE) as deputy minister of Industry and Commerce. Segura Sr., who aspired to be the presidential candidate for the PLD, left the post of CDEEE head amidst accusations of widespread corruption. Medina also appointed Cruz …

Read more…

Leading opposition candidate, Luis Abinader of the PRM presented figures on daily government spending yesterday, Monday 15 February 2016, labeling it wasteful. Abinader says that in the 253 working days of 2015 the government spent RD$49 million a day on payrolls outside the formal government system (believed to be political patronage jobs) while it only …

Read more…

Budget expert Jose Rijo Presbot says that the Medina administration showed a fiscal deficit of RD$1.18 billion in January. “In budgetary execution the government has started out very badly, prioritizing spending that is not related to people’s basic needs. Even worse, the government has had to pay RD$12.8 billion in interest payments, and make a …

Read more…