Landlord Issues: They rent and try to seize properties, Norwegian Escape cruise ship will remain in Puerto Plata until Thursday, Excel consolidates its leadership and launches a new investment fund, war inflation versus pandemic inflation, supermarkets will sell products at Inespre prices, Dominican Republic increases exports in 91 markets, Customs confiscates millions in smuggled weapons of war, Public Prosecutor's Office has 178 pieces of evidence against the "FM" case, oil price falls to US$95.34 in the New York market, IDB approved loans for US$809 million in 2021, cameraman and producer of the US network Fox die in Ukraine, US sanctions 11 high-ranking Russian Defense officials for the war in Ukraine, Ukraine sees room for agreements with Russia.
The problems of tenancy: They rent and trytotake over properties
The delays in payment and the refusal to vacate homes and other properties rented for years are causing conflicts between landlords and tenants in Santiago and other provinces. Lawyers explained that 10, 15, 20, 30 years ago and more, many people rented properties without legal contracts.
The Norwegian Escape cruise ship will remain in Puerto Plata until Thursday
The Norwegian Escape cruise ship will remain in port at Taíno Bay in Puerto Plata province until tomorrow, Thursday the 17th, pending the completion of all inspections being carried out by its parent company, Norwegian Cruise Line (NCL). According to reports, the ship will depart once all safety and operational checks outlined in NCL's operating manuals have been completed, ensuring the complete safety of its passengers and crew, even though the ship itself shows no signs of damage.
Excel consolidates its leadership and launches a new investment fund
Excel, a leading investment banking group in the Dominican Republic, is launching the Excel I Closed-End Development Investment Fund, which invests in debt and equity of companies not listed on the Securities Market Registry. The new fund has a RD$3 billion issuance program, with the first issuance taking place this March for RD$570 million. This action is part of the company's plan to boost the growth of the securities market and expand its offerings to clients.
Wartime inflation versus pandemic inflation
ECLAC reported overall inflation of 7.2% for the region in 2021, excluding countries with chronic inflation, such as Argentina, Haiti, Suriname, and Venezuela. Including Venezuela (with an inflation rate of 668%) and Argentina (50%), the average would rise above 9%. In other words, comparing 2019 and 2021, pandemic-related inflation doubled the price level (CPI) in most countries of the region and in some cases tripled it.
Supermarkets will sell products at Inespre prices
The Presidential Directorate of Strategic and Special Projects (PROPEEP), the Price Stabilization Institute (INESPRE), and the supermarket chains La Sirena, Plaza Lama, Centro Cuesta Nacional, Iberia, and La Fuente launched the "Buy at INESPRE Prices at the Supermarket" campaign, enabling the public to purchase basic food items at reduced prices every Thursday. To this end, an agreement was signed by PROPEEP director José Leonel Cabrera (Neney), INESPRE director Iván Hernández Guzmán, and Mario Lama, president of Grupo Lama, along with other supermarket representatives.
Dominican Republic increases exports to 91 markets
The executive director of the Dominican Republic's Export and Investment Center (ProDominicana), Biviana Riveiro Disla, reported yesterday that the country's exports once again set a historic record in January and February 2022, months that showed amounts of US$811.5 million and US$1,014.5 million, respectively, according to preliminary records from the General Directorate of Customs (DGA).
Customs seizes millions in smuggled weapons of war
High-caliber weapons, ammunition, military equipment, and explosive devices were seized at the port of Haina in an attempt to smuggle them into the country. The General Directorate of Customs reported in a statement that it prevented the entry of approximately 24,394 rounds of ammunition of various calibers and 68 magazines for different types of long and short firearms.
The Public Prosecutor's Office has 178 pieces of evidence against the "FM" case
The Public Prosecutor's Office has a total of 178 pieces of evidence against those accused in the "FM" network, which involves money laundering related to drug trafficking. The prosecution hopes to use these pieces to demonstrate the defendants' participation within the organization. This information is included in the request for pretrial detention against the members of the criminal organization, and the evidence comprises documents, testimonies, and physical evidence seized from the defendants.
Oil price falls to US$95.34 in the New York market
The price of a barrel of West Texas Intermediate (WTI) crude, used as a benchmark in the Dominican market and traded on the New York Stock Exchange, closed Tuesday night at US$95.34. The drop in the price of WTI oil reflects a fall of US$7.67, equivalent to 7.45% less than the previous day.
IDB approved loans for US$809 million in 2021
The Inter-American Development Bank (IDB) approved financing for the country totaling US$809 million in 2021, primarily to support more efficient public administration, the reactivation of the productive sector, and investment in human capital. Among the financing, a US$100 million loan stands out for the rehabilitation and expansion of the Port of Manzanillo.
Cameraman and producer for the US network Fox die in Ukraine
Cameraman Pierre Zakrzewski and producer Oleksandra Kuvshinova, both with the US network Fox News, were killed Tuesday in an attack by Russian forces while covering the war in Ukraine, where their colleague, Benjamin Hall, was also wounded. "It is with great sadness and regret that we share the news of the death this morning of our beloved cameraman Pierre Zakrzewski. Pierre died in Horenka, just outside Kyiv," said Suzanne Scott, CEO of the network, in a statement. Scott explained that the reporting team, which had been in Ukraine since February, was gathering information on Monday when their vehicle was fired upon. Zakrzewski, 55, was a veteran war reporter who had covered multiple armed conflicts.
US sanctions 11 senior Russian defense officials overUkraine war
The U.S. State Department announced sanctions Tuesday against 11 senior Russian defense officials and military leaders for the invasion of Ukraine. The sanctions freeze all of the officials' assets in the United States and prohibit U.S. citizens from engaging in business transactions with them.
Ukraine sees room for agreements with Russia
Ukraine indicated on Tuesday that it saw a possibility of agreements in negotiations with Russia, as Moscow's forces intensified their attacks on Kyiv and some 20,000 civilians desperately fled the nearby city of Mariupol through a humanitarian corridor.
Sources: Listín Diario, Hoy, Diario Libre, El Día.
