Cuban businessmen interested in investing in the Dominican Republic, the Federal Reserve raises interest rates by 0.75 points, Bitcoin continues its freefall: hovering around $20,000, the biggest increase in 28 years, fuel shortage for small aircraft at the country's airports, the financial sector presents its observations on the bill regulating the National Identity Document (DNI), the president of Adoexpo cites achievements and priorities of the export sector on its 50th anniversary, the Vice President and Promipyme deliver more than RD$142 million in loans to micro-entrepreneurs in Santo Domingo Oeste, informal employment in the Dominican Republic remains higher than before the pandemic, and Metro users demand repairs to escalators and elevators.
Cuban businessmen interested in investing in the Dominican Republic
Cuban businesspeople interested in expanding business and trade relations in the Dominican Republic. At this event, Cuban SMEs will showcase their production and technology portfolios, this time in Punta Cana and Puerto Plata.
The Federal Reserve raises interest rates by 0.75 points, the biggest increase in 28 years
The US Federal Reserve ( Fed ) announced Wednesday a 0.75 percentage point increase in the official interest rate, the largest hike in 28 years, to combat runaway inflation. This increase—the third since the Fed began raising rates in March—brings the official interest rate in the world's largest economy to a range of 1.5% to 1.75%.
Bitcoin continues its freefall: it hovers around $20,000
Bitcoin, the best-known cryptocurrency on the market, reached a low of $20,087.90 on Wednesday and fell 1.42% after the close of Wall Street, following more than a week of freefall. This decentralized digital currency, created in 2009, rebounded slightly after the US Federal Reserve (Fed) announced a 0.75 percentage point increase in the official interest rate, the largest in 28 years, to combat runaway inflation.
There is a fuel shortage for small aircraft at airports across the country
Airports across the country are experiencing a shortage of Avgas or 100LL fuel, which is used by small aircraft, Aeropuertos Internacionales Siglo XXI (Aerodom) confirmed Wednesday. The shortage is a consequence of Russia's war in Ukraine, which has prevented the importation of the fuel, explained Luis José López, press officer for the company that manages the terminals.
The financial sector presents its observations on the bill that regulates the National Identity Document (DNI)
The associations representing the national financial sector presented their observations and proposed modifications to some articles of the draft law regulating the National Intelligence Directorate (DNI), with the intention that the legislation can fulfill its purpose of strengthening national security, safeguarding the rights of citizens, the stability of the financial sector and the national economy, the Association of Multiple Banks of the Dominican Republic (ABA) reported today.
President of Adoexpo cites achievements and priorities of the export sector on its 50th anniversary
The president of the Dominican Association of Exporters (Adoexpo), Elizabeth Mena, highlighted yesterday that this entity reached its half-century mark this Wednesday, leading the promotion of this productive sector, improving conditions for the sector, driving changes in public policies and playing a leading role in the generation of foreign exchange and formal employment.
Vice President and Promipyme deliver more than RD$142 million in loans to micro-entrepreneurs in Santo Domingo Oeste
Vice President Raquel Peña and the Director General of the National Council for the Promotion and Support of Micro, Small, and Medium Enterprises (Promipyme), Porfirio Peralta, delivered over 142 million pesos in loans to micro-entrepreneurs in the municipality of Santo Domingo Oeste on Wednesday. This initiative will benefit approximately 1,020 owners of micro and small businesses in Manoguayabo, Los Alcarrizos, Pantoja, and Pedro Brand. Of these, 693 are in the retail sector, 86 in industry, and 241 in the service sector.
Informal employment in the Dominican Republic remains higher than before the pandemic
Although the labor market has been recovering due to the reactivation of the economy during the current pandemic, the number of those working in the informal sector is higher now than before COVID-19 and exceeds the number of formal workers, according to official figures.
Subway users demand repairs to escalators and elevators
The Office for the Reorganization of Transportation Work (OPRET) reported that over 90 percent of escalators and elevators are functioning normally, while users are demanding repairs to some of these vertical transportation systems that are affecting them at various stations. Of the 212 escalators on the two lines of the Santo Domingo Metro, 11 were out of service as of Tuesday, the 14th, as were 17 of the 104 elevators.
Source: Hoy, Listín Diario, Diario Libre, El Día.
