The US Federal Reserve raises its interest rate by a quarter of a percentage point; the Fed's rate hike will help markets adjust their investment plans; oil continued to fall and is approaching pre-Russian invasion levels in Ukraine; passengers from the Norwegian Escape cruise ship, grounded in Puerto Plata, will leave the country by air; hotels and bus stops in Jimaní are raided for human trafficking; the importance of public trusts in the stock market is highlighted; Abinader establishes English as a second language instruction; Abinader dismisses 13 diplomatic and consular officials; Puerto Rico offers hundreds of jobs to Dominicans; bank owners will be required to file sworn statements; Marilyn Rodríguez will assume the role of interim general manager of the National Social Security Council; global billionaires capture the largest cumulative wealth growth since 1990; Russia destroys a theater where Ukrainians were taking refuge; powerful explosions rocked kyiv on Wednesday; Russia claims to have destroyed more than 100 military installations Ukrainians on the last day
The US Federal Reserve raises its interest rate by a quarter of a percentage point
The US Fed Fed in a statement following two days of meetings of its Federal Open Market Committee (FOMC).
The Fed's rate hike will help markets adjust their investment programs
With the Federal Reserve raising the benchmark interest rate by a quarter of a point to between 0.25% and 0.50%, the central bank chose the lower end of the range of anticipated increases, some of which had been estimated at up to half a point. The Fed opted for a more gradual approach to tackling inflation, given that the ongoing conflict between Russia and Ukraine and the looming effects of the COVID-19 pandemic on the Chinese economy will necessitate greater caution to avoid a sharp decline in the real economy, which is already severely impacted by the erosion of consumer purchasing power due to inflation.
Oil prices continued to fall and are approaching pre-Russian invasion levels in Ukraine.
Oil prices continued to fall on Wednesday, nearing levels seen before Russia's invasion of Ukraine, weighed down by fears of a drop in demand and optimism surrounding the ongoing talks between Moscow and Kyiv. At the close of a highly volatile session, Brent crude for May delivery fell 1.89% to $98.02 a barrel.
Passengers from the Norwegian Escape cruise ship, which ran aground in Puerto Plata, will leave the country by air
Passengers aboard the Norwegian Escape cruise ship will be disembarked and transported by air while the vessel remains docked at Taíno Bay Port "until the relevant assessments are completed," according to a port statement. The statement indicates that the Norwegian Cruise Line (NCL) technical team is conducting the necessary inspections to comply with maintenance and safety protocols.
Hotels and bus stops in Jimaní raided for human trafficking
Several raids were carried out Wednesday in the border municipality of Jimaní, Independencia province, at locations suspected of being involved in human trafficking, the General Directorate of Migration (DGM) reported in a statement. The statement indicated that hotels, residences, public spaces, and bus stops were raided by authorities from the Specialized Prosecutor's Office against the Illicit Trafficking of Migrants and Trafficking in Persons, in conjunction with the DGM's Intelligence Directorate.
They highlight the importance of public trusts in the stock market
The transparency and security offered by the formation of a trust, among other attributes, has made it a tool that is increasing in the country thanks to the trust it generates, as explained by the general manager of Fiduciaria La Nacional, Cesar Páez.
Abinader establishes the teaching of English as a second language
President Luis Abinader led the presentation of the English as a Second Language (ESL) program in public schools, which will be implemented starting today, Thursday. The program, called "English is Better," will begin as a pilot program in ten schools located in the five regional areas of the Ministry of Education.
Abinader dismisses 13 diplomatic and consular officials
President Luis Abinader dismissed thirteen diplomatic and consular officials abroad, all assigned to the Ministry of Foreign Affairs (Mirex). The president's decision was made through decree 54-22.
Puerto Rico offers hundreds of jobs to Dominicans
With the allocation of $85 billion in federal funds for the reconstruction of Puerto Rico, following the devastation of natural phenomena, and the implementation of the debt adjustment plan, the island of enchantment becomes a platform for business and jobs for different countries, with a marked interest in Dominicans.
Bank owners will be required to submit a sworn statement
The Dominican National Lottery has undertaken a significant effort and a lengthy process to advance the regularization of lottery outlets . This has involved coordinating with concession holders and members of the sector, as well as programmers and technicians, and developing a sworn statement that each owner of these businesses will be required to submit. This sworn statement must be filed by lottery outlet owners with the General Directorate of Internal Taxes (DGII) for data validation.
Marilyn Rodríguez will assume the role of interim general manager of the National Social Security Council
The Minister of Labor, Luis Miguel De Camps, called for an extraordinary session of the National Social Security Council (CNSS) today, Thursday, March 17, to address as the sole topic the formal resignation of Félix Aracena Vargas as general manager, and the assumption of the interim general manager position by the current deputy manager, Marilyn Rodríguez.
The world's billionaires have captured the largest cumulative growth in wealth since 1990
Economic inequality is widespread, to some extent inevitable, and always at the heart of debates about how societies should be organized,” states the introduction to the World Inequality Report 2022, which presents the most up-to-date synthesis of international research efforts to monitor global inequalities. The data and analysis are based on the work of more than 100 researchers over four years, located on every continent, who contribute to the World Inequality Database (WID.world), maintained by the World Inequality Lab
Russia destroys theater where Ukrainians were taking refuge
Russian forces destroyed a theater in Mariupol where hundreds of people had taken refuge and launched attacks in other cities, Ukrainian authorities reported, even as both sides expressed optimism about negotiations to end the war. The airstrike gutted the center of the once elegant building, where hundreds of civilians had been living since their homes were destroyed in the fighting, the Ukrainian Foreign Ministry said in a statement.
Powerful explosions rocked kyiv on Wednesday
Loud explosions were heard in Kyiv early Wednesday morning, followed by plumes of black smoke in the sky, AFP reported. At least three powerful explosions in western Kyiv, where a 36-hour curfew is in effect. In recent days, Russian artillery and aircraft have intensified their bombardment of cities.
Russia claims to have destroyed more than 100 Ukrainian military installations in the last day
The Russian Ministry of Defense reported on Wednesday that it had destroyed 128 Ukrainian military installations in the past day and indicated that air defense systems had shot down three aircraft and four drones belonging to the Ukrainian Army as part of the invasion of the country.
Sources: Listín Diario, El Día, Diario Libre, El Día
