2004

DR1 Daily News will not be updated again until next Monday, 3 January 2005. The DR1 Daily News staff is taking its New Year holiday as of tomorrow, 30 December. Top headlines occurring over the 29 December-2 January period will be compiled for the Monday, 3 January news digest. Important breaking news may appear on …

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The Superintendent of Power has ordered a reduction in the electric bills of between 5.63% and 8.41% beginning next month. Clients will save an estimated RD$131 million. About 110,000 clients that consume between 200 kWh and 300 kWh will see an 8.41% decrease in their rates compared to the December invoicing. These are the consumers …

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The Monetary Board, during its 23 December meeting, approved the transfer of assets held by the Central Bank, as well as other government assets, into several closed investment funds to be administered by fund managers appointed by the Central Bank. The issue at hand is the payment of the quasi-fiscal deficit produced by the issuance …

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The rector of the Universidad Autonoma de Santo Domingo (UASD) stated yesterday that there is no current economic disequilibrium in the Dominican Republic to warrant the signing of such a severe accord as that which is being drawn up by the International Monetary Fund. “The external debt is being paid like never before,” said Garcia …

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The drop in the cost of the US dollar produced a reduction in the prices of automobiles, and this has caused a distortion in full coverage insurance premiums for car owners. According to Hector Linares of the Listin Diario, it is possible that a full coverage policy will pay just 50% or 60% of the …

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The US dollar jumped RD$4 to RD$5 on the exchange markets over the past weekend. During Friday, Saturday, and Monday activity, dollars were being bought by the various exchange banks at prices of around RD$28.50. On Tuesday, the dollar jumped to as much as RD$34 per dollar. Even the Central Bank website showed a big …

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The Dominican Republic may have lost out on a US$30-million loan this week, as the Congress gave it the go-ahead loan on the last viable day. According to Hoy newspaper, the loan was destined to support a program of reform in the Public Health sector. The agreement that was signed on 27 June 2003 with …

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President Leonel Fernandez reiterated his hard line on drug-related cases yesterday. As he presided over the proceedings at the inauguration of the new radar equipment at the Punta Cana airport, Fernandez reminded his audience that in his administration there would be no “sacred cows” in cases involving drugs. He pointed out that in his inaugural …

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Civic organization Participacion Ciudandana (PC) and the Foundation for Institutionalism and Justice (FINJUS) expressed their regret that lawyer Felix Olivares Grullon had chosen to abandon his role in the civic society movement to join the defense council of ex-Captain Quirino Ernesto Paulino Castillo, the alleged leader of a narco-trafficking ring. Paulino Castillo is under arrest …

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Feisty as ever, former President Hipolito Mejia told reporters that he was ready to face the “lies” that have been prepared to smear both him and his administration. Mejia said that by the conclusion of these Christmas holidays, he would have important statements to make regarding drug trafficking in the Dominican Republic. The former head …

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