Details of the War in Ukraine, oil barrel price surpasses $100 due to Russian "military operation" in Ukraine, material prices paralyze construction in the housing sector, JP Morgan analysts predict crude will exceed $125, fuel prices worry the government, as do subsidies; expert assures trusts are not for privatization, construction of a tourist port in the municipality of Sánchez, Samaná, is announced, the Government begins today the expansion of kilometer 9 of the Duarte highway, three months of preventive detention ordered for a man who stole construction materials, the minimum wage for NGO workers increases from RD$11,500 to RD$14,500, the reopening of the Puerto Plata Cable Car is announced for Friday, March 4, Mexico is working to increase its investments in the Dominican Republic, the Dominican Republic would have lost more than one million dollars due to the 354,240 expired vaccines.
Putin starts the war in Ukraine; Russia defends its attack at the UN; Ukraine: Explosions heard in Kyiv and other cities; Biden accusesPutin of an unjustified and premeditated attack againstUkraine
Russian President Vladimir Putin announced a military operation in Ukraine today and warned other countries that any attempt to interfere with Russian actions would result in “consequences they have never seen before.” The Russian ambassador to the United Nations, Vasily Alekseevich Nebenzya, defended President Vladimir Putin’s decision to launch military action in the Donbas region of eastern Ukraine during an emergency meeting of the UN Security Council.
Several powerful explosions were heard on Thursday by AFP journalists in central Kyiv and other Ukrainian cities shortly after Russian President Vladimir Putin announced a military operation against Ukraine. At least two explosions rocked the capital, Kyiv, according to AFP journalists. Powerful explosions were also heard in the port city of Mariupol, the main city controlled by the Ukrainian government near the front line in the east of the country, as well as in Odesa on the Black Sea, AFP journalists reported.
US President Joe Biden on Wednesday accused Russian leader Vladimir Putin of launching an "unprovoked and unjustified" attack on Ukraine and of pursuing a "premeditated war" that will cause "catastrophic" losses. "Russia alone is responsible for the death and destruction this attack will bring, and the United States and its allies and partners will respond in a united and decisive manner. The world will hold Russia accountable," Biden said in a brief statement.
The priceofa barrel of oil exceeds $100 due to the Russian "military operation" in Ukraine
Oil prices surpassed $100 a barrel on Thursday for the first time in more than seven years after Russian President Vladimir Putin announced a "military operation" in Ukraine. Brent crude reached $100.04 a barrel following the announcement, which heightened fears of a large-scale conflict in Eastern Europe. West Texas Intermediate (WTI) crude traded at $95.54 a barrel.
Material prices paralyze construction in the housing sector
The rise in cement and other construction material prices has increased construction costs, leading to a standstill in small housing projects. Landy Colón, president of the Cibao Association of Housing Builders and Developers (Aprocovici), stated that the situation is significantly impacting the sector.
JP Morgan analysts predict crude oil will rise above$125
JP Morgan expects the decline in spare capacity at OPEC+ to increase the risk premium on oil prices, forecasting that oil will reach US$125 per barrel this year and US$150 next year. In a report for Oil.price.com authored by Tsvetana Paraskova, she projects that oil will trade at US$100 or more per barrel this year.
Fuel prices are a concern for the government, and so are subsidies
The Minister of Industry, Commerce, and SMEs, Victor "Ito" Bisonó, acknowledged that the issue of fuel prices is becoming increasingly worrisome and that it occupies him every Friday. He emphasized that it is a global issue that does not appear likely to be resolved quickly.
And it won't be resolved soon because there are different aspects to it, he warned. From his perspective, the United States, with its environmental policies, limits oil production and partnerships with other countries to increase oil availability and provide compensation not only for prices but also for scarcity.
Expert says trusts are not for privatization
Public trusts are not a means of privatization; they must be open to public and political scrutiny, ensuring transparency, and it is not essential to have a specialized law to regulate them, according to Costa Rican Jorge Luis Porras Zamora, who has more than 30 years of fiduciary experience.
Announcement of construction of tourist port in the municipality of Sánchez, in Samaná
The executive director of the Dominican Port Authority (Apordom), Jean Luis Rodríguez, announced the rehabilitation and renovation of the Samaná pier and the construction of a tourist port in the municipality of Sánchez, also in Samaná, at a cost exceeding 76 million pesos for both projects. Rodríguez explained that the tourist port in the municipality of Sánchez, in Samaná, will be built at a cost of 62 million pesos.
Government begins expansion of kilometer 9 of the Duarte highway tomorrow
President Luis Abinader will break ground today, Thursday, for the expansion of kilometer 9 of the Duarte Highway, which includes increasing the number of lanes from eight to fourteen. The groundbreaking ceremony is scheduled for 10:00 a.m. The president will be accompanied by the Minister of Public Works, Deligne Ascensión
Man sentenced to three months of preventive detention for stealing construction materials
The Hermanas Mirabal Provincial Court ordered three months of pretrial detention for a man who stole materials from a hardware store in Salcedo and who has a long history of thefts in the municipality. According to a statement, the court issued the coercive measure against Rodolfo José Sánchez Polanco, accused of stealing hardware materials from a business in the aforementioned municipality.
The minimum wage for NGO workers increases from RD$11,500 to RD$14,500
The minimum wage for employees of incorporated non-profit organizations that provide health, education, disability rehabilitation, and other services to third parties will increase from RD$11,500 to RD$14,500 in March, representing a 26.1% increase. This information was provided by the Ministry of Labor, which reported that the increase was approved by the National Wage Committee (CNS) following a proposal by its Director General, Angel Martín Mieses.
Puerto Plata Cable Car announced to reopen on Friday, March 4th
The board that manages the Puerto Plata Cable Car announced the reopening of this tourist attraction on Friday, March 4th. The announcement was made during a meeting held in Playa Dorada, led by José Ignacio Paliza and David Collado, Minister of the Presidency and Minister of Tourism, respectively.
Mexico seeks to increase its investments in the Dominican Republic
Over the past six years, trade between the Dominican Republic and Mexico has reached US$6.139 billion. The Dominican Republic aims to reach US$82 million in exports to Mexico over the next four years, according to the Dominican Republic's Export and Investment Center (ProDominicana).
The Dominican Republic would have lost more than one million dollars due to the 354,240 expired vaccines
Health Ministry officials revealed Wednesday that the country has lost approximately 354,240 doses of COVID-19 vaccines due to their expiration date, which could represent a financial loss of around $1.4 million. During a press conference, Deputy Minister of Public Health, Dr. Eladio Pérez, explained that this figure represents a 1.4% loss of supplies out of a total of 26,920,000 vaccine doses acquired by the country.
Sources: Listín Diario, Diario Libre, El Caribe and Hoy.
