Opret will begin tunneling this week for the extension of Line 2-C of the Santo Domingo Metro; oil crosses the US$115 barrier and poses new challenges for the country; robberies continue: three people steal RD$3.9 million from a Banco Popular ATM; deputies present a favorable report for the creation of another province in the Dominican Republic; the government aims to increase GDP by 1% in Innovation and Development; SMEs moved RD$393,551 million in bank loans last year; Free Trade Zones grew in exports, investments, purchases, and infrastructure; nine out of ten companies do business with Banco Popular Dominicano.
Opret will begin tunneling this week for the extension of SD Metro Line 2-C
The Office for the Reorganization of Transport( Opret) will begin this week to tunnel the 800 meters that will connect the María Montez station with the elevated part of line 2-C of the Santo Domingo Metro.
Oil crosses the US$115 barrier and poses new challenges to the country
The price of West Texas Intermediate (WTI) crude oil closed yesterday at US$115.31, exceeding the limits set by the government to maintain the subsidy and prevent passing on the true costs to consumers. At the start of trading on Tuesday, WTI was at US$119.98 in international markets, according to international agencies, creating nervousness and uncertainty among economic actors. However, by the end of the day, the price of crude oil had fallen to US$115.31 per barrel, according to Bloomberg. Brent crude reached US$125.28 and closed at US$122.84.
Robberies continue: Three people steal RD$3.9 million from a Banco Popular ATM
Three armed men robbed Banco Popular employees who were repairing an ATM at the Sunix gas station on Highway 6 de Noviembre, making off with nearly RD$3.9 million in cash. After stealing the money, the perpetrators fled in a gray Honda CRV SUV.
Deputies present favorable report for the creation of another province in the Dominican Republic
The deputies who make up the permanent commission on municipal affairs gave a favorable report on the bill that creates the Matías Ramón Mella province and divides the Santo Domingo province.
The government aims to increase Innovation and Development by 1% of GDP
President Luis Abinader announced that the Dominican government aims to increase the country's investment in innovation, development, and research by 1% of its Gross Domestic Product (GDP). "We have set the goal of increasing GDP by 1% in Innovation, Development, and Research; the creation and capitalization of the Innovation Support Fund (FAI); and the establishment of a National Network of public-private incubators to promote innovative work throughout the country," the President stated during his keynote address at the presentation of the National Innovation Policy 2030: "Future-Proof Dominican Republic," held at the Ministry of Foreign Affairs convention center.
Micro, small, and medium-sized enterprises (MSMEs) moved RD$393,551 million in bank loans last year
Micro, Small and Medium Enterprises (MSMEs), a sector that concentrates 2.2 million jobs in the Dominican Republic, moved 393,551 million pesos in loans from the banking sector at the end of last year, equivalent to one third of the total financing of the national banking system.
Free Trade Zones experienced growth in exports, investments, purchases and infrastructure
President Luis Abinader held a press conference Tuesday morning to report on the growth experienced by free trade zones in the first four months of 2022. If the sector's current trend continues, the president projected that "we would be closing the year with close to 200,000 direct jobs and surpassing the $8 billion mark in exports.".
Nine out of ten companies do business with Banco Popular Dominicano
Banco Popular Dominicano, in the context of National Private Enterprise Day, reported that nine out of ten Dominican companies do business with the bank, specifically 11,777 large SMEs, companies and corporations out of a universe of 13,076 units, according to the taxpayer registry of the General Directorate of Internal Taxes (DGII) and other business activity records, updated to April of this year.
Sources: Diario Libre, Hoy, Listín Diario, El Día.
