News World

Despite the global crisis, growth continues at the Dominican Republic Exchange. Trading leaped to RD$25,429,696,170.23 for the first ten months of the year, for a significant 221.31% growth compared to the same period last year. The total volume traded for the year 2007 was RD$15,414,587,959.17

Three new issues were approved during the third quarter: BHD Valores for RD$1 billion with a two to five year maturity; Metro Country Club for US$16 million with a four year maturity and Motor Credit for RD$300 million with a three year maturity.

Darys Estrella, general manager of the Dominican Republic Stock Exchange says that the crisis has not really impacted the Bolsa directly because there is an almost zero correlation between our exchange and the other big exchanges. “Our market continues to be 100% fixed income which means there are no equities listed here that local or foreign investors can sell [...]

Original post by WP-AutoBlog Import

Two US companies, Hart Energy Consulting and Energy Security Group, have submitted a project aimed at helping implement Law 57-07 on alternative energy, specifically using ethanol mixed fuels. The project’s objective is for 10% of the local fuel consumption to come from ethanol fuel. This could greatly reduce the nation’s foreign fuel bill. Initial studies would cost an estimated US$300,000 and will be done through a cooperation agreement between the US State Department and the Organization of American States, which is also helping to implement the law.

Original post by WP-AutoBlog Import

The start-up of construction projects has decreased by 90% in the last two months, according to the president of the Housing Construction and Promotion Association (ACROPROVI), Jaime Gonzalez. Gonzalez blames the lag in construction on the rising financial costs. Gonzalez says that sales of new homes are down 70% in 2008, compared to 2007.

Original post by WP-AutoBlog Import

Five international companies have shown an interest in participating in the construction of the Santo Domingo metro’s proposed second line. These are Alstom, Siemens, Bombardier, Construcciones y Auxiliar de Ferrocarriles (CAF) and Invensys. The second Metro line would run from Los Alcarrizos to San Luis, a distance of 22 kilometers and 24 stations, at an estimated cost of US$600 million. Construction is expected to begin in December and should take an estimated three years to complete. Information on the project was released during the Forum for East Asia Latin America Cooperation (FEALAC) event held in Singapore. Listin Diario reports that soil tests for the new line began three months ago.

Original post by WP-AutoBlog Import

Freight vehicles make up only 15% of the vehicles on the road, but are responsible for 25% of all accidents in the DR, according to Juan Manuel Cabral Baldera, director of the Department of Highway Organization, a dependency of the Transit Authority (AMET). Cabral made his comments during a training and inspection seminar with truck drivers. AMET officials are now placing reflective tapes on trucks to try to reduce accidents.

Original post by WP-AutoBlog Import

The overpass on John F. Kennedy Avenue, which intersects at Abraham Lincoln Avenue, will be closed for repairs tomorrow, Saturday from 8am until noon. A lane divider at the intersection was damaged after a traffic accident early Friday morning. Expect traffic jams throughout the afternoon.

Original post by WP-AutoBlog Import

Geographer Zacarias Nieto warns that the construction of the new Cibao-South highway on the route proposed and promoted by Monsignor Jose Dolores Grullon of San Juan de la Maguana would result in the destruction of several rivers and forests in the Cordillera Central that are now protected because they are inaccessible to humans. Writing in Clave newspaper (2 October), Nieto says that four highways already connect the country from south to north, of which three are in disrepair. He suggests that these should be repaired instead of building a new highway.

In addition to the Duarte Highway that connects Santo Domingo with Santiago, the others are the San Jose de Ocoa-Constanza road (with side roads to Jarabacoa and Bonao), the Piedra Blanca-Las Carreras-Rancho Arriba and San Jose de Ocoa. The Villa Altagracia-San Cristobal road, and the Carretera Internacional (connecting the border towns with Haiti with Santiago (Villa Vazquez, Guayubin, [...]

Original post by WP-AutoBlog Import

The US Carter Center, through the ITFDE in Atlanta, Georgia will begin a joint campaign to accelerate the elimination of malaria and lymphatic filariasis in Haiti and the Dominican Republic. The initiative stems from a 2006 recommendation from the Carter Center’s International Task Force for Disease Eradication (ITFDE) - a group of 12 global experts on infectious disease funded by the Bill & Melinda Gates Foundation - that it is technically feasible to eliminate the two parasitic diseases on Hispaniola. According to Diario Libre, the island of Hispaniola is the only part of the region that is still heavily affected by malaria. Health officials from both countries will concentrate their efforts on border towns near the Rio Masacre, including Ouanaminthe and Dajabon. Trou du Nord in Haiti will also receive funding for the eradication programs. As part of the efforts mosquito nets, insecticides and other equipment will be purchased and [...]

Original post by WP-AutoBlog Import

Yesterday, police officers, state prosecutors and governors from across the country met to discuss their roles in the judicial and legal process. Participants discussed the Dominican penal code and how each sector fits into applying its statutes. The meeting was led by Prosecutor General Radhames Jimenez Pena, Minister of Interior and Police Franklyn Almeyda and National Police Chief Rafael Guillermo Guzman Fermin. Guzman, quoted in Hoy, said the point of the workshop was to determine how to “harmonize” the work of all parties. Guzman said that the nation’s judges should have a similar coordination workshop. The need for this meeting came about as police, prosecutors and government officials have been shifting blame as to who is responsible for investigating crimes as well as who should be responsible for putting criminals in jail and keeping them there.

Original post by WP-AutoBlog Import

Dominican Medical Association (CMD) president Waldo Ariel Suero is protesting the forceful removal of himself and other medics that camped out on the second floor of the Ministry of Public Health on Wednesday. At 2am on Thursday, a Police Swat group carried them outside of the ministry. Suero accuses the government of brutality. Suero says he was injured in the altercation and described being carried out of the ministry headquarters by his shirt and neck, while military and police officers punched him. He added, “they turned the lights out at 8pm and even cut off our access to water. They treated me like a criminal, they even handcuffed me.” Suero and the leaders representing CMD medics that are battling for an overall wage increase for public hospital doctors took over the ministry hallway in a new move given that their tactic of ordering doctors to strike at public hospitals have [...]

Original post by WP-AutoBlog Import