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Dominican Republic

3 high-end hotels of US$350M, 2,000 jobs

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Santo Domingo.- With an investment of over US$350 million and the creation of more than 2,000 direct jobs, the future of the tourism industry in Sosúa looks promising.

The start of the construction soon of three luxury hotels by Marriott International and The Ocean Club Group is the best indicator of the dynamism observed in Sosúa.

“It is gratifying to receive high-end hotels in Sosúa that will contribute very significantly to local tourism and that will help economic growth with new jobs and visitors with greater purchasing power,” said Ilana Neumann, mayor of Sosúa.

The construction of The Luxury Collection, W Hotel and The Ritz Carlton Reserve will make Sosúa an ideal destination for tourists.






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Dominican Republic

Two Dominicans extradited to the US in Abuser case

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J..Tapia.

Santo Domingo. – Dominican authorities on Tues. extradited Baltazar Mesa (El Maestro) and José Jesús Tapia Pérez (Bola Negra or Boludo) to the United States, charged with forming part of the alleged drug trafficking network headed by the fugitive César Emilio Peralta (César El Abusador).

Baltazar and Tapia were handed over at Las Américas International Airport to DEA agents, who transferred them to New York City where they will be arraigned in a criminal court.

Executive order 285-19 was issued to extradite Tapia to the US, whereas Mesa was extradited through decree. 286-19. They are both Dominican citizens






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Dominican Republic

Dominican Republic, Russia to cooperate on nuclear energy

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Moscow.- The Russian nuclear energy corporation Rosatom and Dominican Republic’s Energy and Mines Ministry on Tuesday signed the first memorandum on bilateral cooperation in the field of nuclear energy.

“The memorandum is the first cooperation document between the two countries in the field of peaceful use of nuclear energy,” said the Russian agency RIA Nóvosti.

According to the Russian entity, the document lays the groundwork for establishing cooperation in various directions, in particular, in the development of the nuclear infrastructure in the Dominican Republic.






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Dominican Republic

Central Bank releases US$374.5M of bank reserve

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Santo Domingo.- The Central Bank said that RD$19.1 billion (US$374.5 million)  of the RD$34.0 billion bank reserve have been released, as announced by the Monetary Board for loans to various productive sectors.

Central banker Héctor Valdez Albizu made the announcement Tues. to open the VIII International Communication Seminar.

He also announced that the use of sectoral resources will be more flexible for all banks in the interim and finished housing loans to further revitalize credits.

He added that the Central Bank maintains its forecast that the Dominican economy will grow around 5%. “The adjustments in the monetary policy rate have allowed greater mobility of resources.”






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