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Spearheaded by former Dominican basketball player Jose Vargas, Brazillian companies are interested in investing in excess of US$100 million to bring ethanol production to the Dominican Republic. Vargas, now a prosperous businessman in Brazil, met with Industry and Commerce Ministry Director for Non-Conventional Energy Salvador Rivas and Sports Vice Minister Soterio Ramirez. Vargas represented Brazil's Colorado Group and the company Camen who are involved in sugar cane and ethanol production in that country. He feels bringing these groups to the Dominican Republic would be highly beneficial to the economy of the nation. For his part, Rivas comment that projects such as these are part of the Government's plans to achieve energy independence by developing agribusinesses to replace fossil fuels. The ethanol produced would be used for local consumption as well as be exported to the United States. |
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With exactly one year left before national elections the Dominican electorate has given no clear indication about which way they may be leaning. While two of the three major parties haven chosen their presidential candidates and the third set to within the month there is no clear frontrunner at this point in time. Problems within the parties seem to be a major factor in voter uncertainty. PRD candidate Miguel Vargas Maldonado has yet to get his campaign off to a good start nor has he managed to bring together the different groups within the party to show the united front that could give the party a chance to return to power. For their part, the PLD's often nasty confrontations between President Leonel Fernandez and Daniel Medina during the campaign for presidential candidate seem to have left the party weakened. |
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Just released Central Bank figures show continued growth of the Dominican economy as measured by Gross Domestic Product (GDP). In the first quarter of 2007 the economy grew by 9.1% only slightly lower than the 10.9% posted for the same period last year. Hector Valdez Albizu of the Central Bank attributes the growth to four factors. Imports of retail materials, raw materials and capital assets increased by 19.7% while exports for the first quarter grew by 65% mostly fueled by ferrous-nickel and non-traditional products. Bank financing also increased by RD$33.70 billion with two-thirds of that going to the production sector. Foreign investment saw US$333.10 million enter the country, an increase of 18.5%. Overall 15 areas of the economy representing 89% of the GDP showed growth in the first quarter and helped to surpass all monetary and fiscal goals of the International Monetary Fund agreement. |
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A shipment of fake Viagra originating in India and heading for the Dominican Republic was discovered and confiscated by French Customs on May 11 at the Roissy-Charles de Gaulle Airport. The seized shipment of the bogus erectile dysfunction drug consisted of 50,000 boxes valued at close to £3 million. |
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The wedding fans have been waiting for may happen in the east coast Dominican resort town of Punta Cana this fall. Hugely popular Latina singer Shakira is rumoured by several media sources to be planning to marry her long-time fiancé Antonio de la Rúa at her Punta Cana mansion sometime in September, though the date has not been confirmed. The couple have been engaged for seven years. We'll be watching out for our invitation! |
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