Govt. pulls fuel subsidies, unions warn of freight and fare hikes
Economy October 7, 2016 | 7:58 am
Santo Domingo.- The government has yet to allocatelast month´s fuel subsidy to the associations which transport passengers and freight, without any explanation, prompting warningsfrom sector [...]
Highland town surrounded by water still gets none
Economy October 6, 2016 | 4:42 pm
Santiago.- A group of community organizationsfrom Baitoa township on Thursday demanded that president Danilo Medina order the constructionof a new aqueduct in that locality.
In a statement, [...]
Gold eases Dominican Republic US$2.3B trade deficit in Q1
Economy October 6, 2016 | 11:29 am
Santo Domingo.- DominicanRepublic's perennial trade deficit was US$2.3 billion in the first quarter, or US$134million higher than the same period last year.
According to the InternationalTrad[...]
Bucking trend, top Dominican corporation hikes wages 18%
Economy October 6, 2016 | 8:38 am
Santo Domingo.-Bucking the stance of other major employers, Central Romana Corporation and itsWorkers Union on Wednesday signed a new collective bargaining agreement withimproved working conditions[...]
Dominican Republic resorts unscathed by hurricane
Economy October 6, 2016 | 7:37 am
Santo Domingo.- DominicanRepublic´s Hotels and Tourism Association (ASONAHORES) on Wednesday said HurricaneMatthew didn't affect any of the tourist areas.
ASONAHORES president SimonSuare[...]
Trade vital for Latin America’s future growth
Economy October 5, 2016 | 4:24 pm
Wshington.– Countries in Latin America and the Caribbean are beginning to show signsof economic recovery and an increased volume of exports, including new productsin higher quality niches, accord[...]
Dominican agriculture dodges the hurricane bullet
Economy October 5, 2016 | 4:12 pm
Santo Domingo.-Agriculture minister Angel Estevez on Wed. said Hurricane Matthew didn't causeconsiderable damage to agriculture. "In agriculture, thank God, we have tosay that we have no impor[...]
Sectors oppose US$543.5M of Pension Fund to spend on roads
Economy October 5, 2016 | 9:10 am
Santo Domingo.- Thegovernment's announced RD$25.0 billion (US$543.5 million) dip into the PensionFund to improve the national road grid is around 6.25% of Dominican workers' assets,which surpassed [...]
IMF sets Dominican Republic’s growth at 5%+: EFE
Economy October 4, 2016 | 3:44 pm
Washington.-Central America's economy continues its good growth trend as a whole with 3.9% in 2016 and 4.1% in2017, after 4.2% in 2015, with Panama and Dominican Republic heading the expansionboth[...]
Central Bank keeps benchmark rate at 5.0%
Economy October 4, 2016 | 11:02 am
Santo Domingo.- The DominicanRepublic's Central Bank on Tuesday announced it will maintain its benchmarkrate at 5.0% annually.
It said the decision wastaken during its September monetary poli[...]
Industries balk at Government’s push to sell stake in power plants
Economy October 4, 2016 | 8:51 am
Santo Domingo.- The president of the Santo Domingo industresgrouped in AEIH on monday said the government's push to sell US$1.0 billion inshares in the Punta Catalina coal-fired power plants even b[...]
Taxman charges more to renew sticker on autos
Economy October 3, 2016 | 2:28 pm
Santo Domingo.- The Internal Taxes (DGII) agency on Monday announcedincreases of RD$300 and RD$800 to renew the windshield sticker on vehicles.
The tax to renew the stikcer last year was RD$1[...]
Dominican Republic banks post robust Q2 figures
Economy October 3, 2016 | 11:41 am
Santo Domingo..- Dominican Republic’s banks closed thesecond quarter with high solvency, reduced past due loans –NPL-, and high financialstrength, the Commercial Banks Association (ABA) says in[...]
Customs to charge a sweeping 9% tax starting next year
Economy October 3, 2016 | 11:00 am
Santo Domingo.- Starting next year the government plans,through Customs, a 9% ITEBIS tax on raw materials, industrial machinery andcapital goods which currently pay zero, according to Article 24 of[...]
High-tech boosts Santo Domingo ports’ for roll-on, roll-off service
Economy October 3, 2016 | 10:30 am
Santo Domingo.- Sans Souci Port of Santo Domingo on Sunday announcedan agreement with the services company Fast Auto Logistics FAL, subsidiary ofFast Terminal International, to modernize the proces[...]
Public Works plans more bridges across the capital’s rivers
Economy October 3, 2016 | 9:12 am
Santo Domingo.- The Public Works Ministry plans to build severalbridges across the Ozama and Isabela rivers to link the National District and easternSanto Domingo at the most suitable sites.
[...]
Govt. to resume construction of major dam in 2017 with RD$491.0M
Economy October 3, 2016 | 8:22 am
Santo Domingo.- Constructionof Monte Grande Dam will resume next year, for which the Government seeks RD$491million in external funding for the project that will benefit four Southwest provinces.<[...]
Business leaders push to manage north coast’s only deep-water port
Economy October 1, 2016 | 10:30 am
Santiago.- Although the Government has rescinded theagreement to hand over management of Manzanillo port in Montecristi province(northwest), business leaders and local investors still push to take [...]
Dominican Republic to offer US$1.0B shares in coal-fired plants
Economy October 1, 2016 | 9:56 am
Santo Domingo.- The government of the Dominican Republic aimsto sell US$1.0 billion in shares of its coal-fired power plants at PuntaCatalina (south) to prop up the Caribbean nation’s 2017 budget[...]
All fuel prices climb, except natural gas
Economy September 30, 2016 | 11:32 am
Santo Domingo.- The Industry and Commerce Ministry on Fridayposted fuel prices for the week October 1 to 7, when premium gasoline will costRD$198 per gallon, an increase of RD$1.60, while regular g[...]