Dominican Today -
Recent developments in Europe and North America, involving Barclays Bank and others in the manipulation of Libor rates, are truly shocking.
They bring into question not just the role of the banks concerned, but suggest that a once measured and conservative profession that people trusted, has in major financial centres become so self-seeking and lacking in morality that bankers at the highest levels are prepared to condone or order actions amounting to fraud on a global scale.
As this is being written the story is still unfolding.
In outline it is about falsifying the benchmark interest rate against which almost all global financial transactions take place. Libor –short for the daily London interbank offered rate - is the rate that establishes the costs to banks to borrow from each other and the figure against which almost all other rates are set for financial products and instruments ranging from swaps to complex derivatives, mortgages, personal savings and loans.
Around 20 major banks, in the US, Europe and Japan have received requests from their regulators to provide information on the setting of the Libor rate over a number of years, including at critical moments during the 2007-9 global banking crisis. The allegation is that these banks artificially lowered their Libor submissions to enhance their financial health.
Of these so far only Barclays has admitted that its traders and bankers did so and a fine of US$300m has been levied on it by UK and the US regulators.
But in an indication of quite how serious the consequent breakdown of trust is, the former British Chancellor of the Exchequer, Alistair Darling, has said that the Libor rate was one of the key indicators he used during the 2008 global banking crisis to assess the strength of banks, but that he now realised this was seriously flawed. “If you can’t trust banks on something as basic as this, what confidence can you have in them,” he told the London Financial Times.
Whether what is being revealed will result in legal actions against banks and individual bankers remains to be seen. However, the US Department of Justice is pursuing criminal and civil investigations and there is talk of class actions against the banks involved.
These are of course not just matters of concern to those who live in Europe or North America. In a global economy, banks operate across borders, Governments and institutions rely on them, and their role is as essential to the Caribbean’s financial systems as it is to the countries in which they are located.
For many who have lived or worked in the Anglophone Caribbean, the coupling of Barclays name with this scandal may seem unreal. Most remember Barclays Bank in the Caribbean, its network of offices and branches and the bank’s head office in London, as the repository of traditional values.
The bank of course gradually exited from the Caribbean. In 2001 after a 150 year presence, Barclays and CIBC announced that they were in discussions. This led to the combination of their retail, corporate and offshore operations in the region to create FirstCaribbean International Bank. Then in 2006 CIBC acquired Barclays’ stake, becoming the majority shareholder in FirstCaribbean
Although Barclays Caribbean ethos may now seem a little quaint, in many ways it has, together with the strong corporate culture of the Canadian banks in the region, resulted in the welcome if sometimes frustrating conservatism of Caribbean banking and its ability to remain more or less untouched by the crisis in the global banking system.
Notwithstanding, the regional financial system has been severely tested. Caricom Finance Ministers are still trying to work out how to respond on a regional basis to the multi-billion dollar failure in January 2009 of the Trinidad-based financial conglomerate, CLICO and its subsidiaries; and just three weeks ago a US judge sentenced Allen Stanford to 110 years in jail for his part in a US$7bn international fraud run out of Stanford International Bank Ltd in Antigua.
What has protected mainstream Caribbean banking is its limited integration with international financial markets. As a consequence it largely avoided exposure to the collapse of Lehman Brothers and others US financial institutions, did not buy mortgage backed securities, is not involved in high risk financial instruments like derivatives, has relatively low levels of overseas borrowings, has not confused wholesale and retail banking operations, and continues to have a clear commercial and social purpose.
Despite this there should be no room for complacency.
There remain worrying gaps in the ways in which financial institutions in the region are supervised and regulated. Economic and commercial linkages, common vulnerabilities, smallness and the danger of instability in the global financial system all suggest that there is pressing a need for a single set of rules supervised by a regional regulatory institution.
In an important speech in March that deserves much wider attention, Ewart Williams, the Governor of Trinidad’s Central Bank suggested a series of remedies. He argued for strengthened financial sector legislation that covers the banking system, insurance and the credit unions and a need to substantially upgrade and consolidate financial sector supervision. He also recommended all countries having national insurance schemes to cover deposits in banks to protect the less well off and for there to be national and regional crisis management plans. He made the point that financial sector legislation in the region is grossly deficient when compared to what obtains in advanced or emerging market countries and that there was a danger of regulatory arbitrage if legislation was not harmonised across the region.
Caricom Heads of government need to take more seriously the importance of what Governor Williams and other Central Bankers are saying, not least because of continuing global economic uncertainty. Unfortunately the absence of effective regional governance through Caricom may set aside or delay implementing many of these important, stabilising and common sense approaches.
What is now happening in North America and Europe suggests that avarice, the corrosive sense that big banks are above the law and will always be bailed out, and the continuing crisis in the Eurozone, could return to threaten the global economy . If unchecked there is a danger of social instability not least because these forces cast governments and social policies aside and leave ordinary people feeling helpless and marginalised. If there is another crisis, this time the Caribbean, now economically less robust, may not be immune.
David Jessop is the Director of the Caribbean Council and can be contacted at david. jessop@caribbean-council. org
Previous columns can be found at www. caribbean-council. org
Read original at Dominican Today.
(Posted 14:29 Friday by DRSol NewsHound. Viewed 2587 times.)
The Dominican Sun - Across the Dominican Republic in the last 24 hours the highest observed temperature by DRSol was 90 at Santiago. The coolest reading came from Las Americas with an overnight low of 70. A few spotty light to moderate rain showers were reported, and rain is being observed right now as well at Las Americas, Samana, La Isabella and Santiago. Skies were generally partly cloudy. Winds are averaging 10 mph from the SE, with a peak gust to 23 mph seen at 1PM this afternoon at Puerto Plata International. By the Numbers DR cities reported rain 18% of the time, and thunderstorms 0%. Average reported rainfall intensity on a scale of 0 to 100 was 39. Cloud cover totaled 52%. Click above to view summaries for the last week or last month. Last updated at 7:28PM. Read original at The Dominican Sun.
(Posted 23:29 Monday by DRSol NewsHound. Viewed 2517 times.)
Dominican Today -
On Sunday, June 30, 2013, at 8:30 AM, the first 10K road race in the El Limón, Samaná area, the Cross Country @ Playa Morón, 2013 will take place starting and finishing at the beautiful Morón Beach, Samaná. This event is sponsored by Cap El Limon Samana, endorsed by the Dominican Federation of Athletic Associations, FEDOMATLE, organized by Las Terrenas Marathon and Sports Solutions DR, and it is the first international athletic event in the El Limón-Playa Morón area recognized by the Association of International Marathons and Distance Races, AIMS.
“Our aim is to promote athletic events in the region of Playa Morón, Agua Sabrosa and El Limón, and at the same time guide the youth of the area toward healthy practices through sports. It is for this reason that we are sponsoring the T3 El Limón Triathlon Team which we are supporting with equipment, training and the opportunity of becoming a leading athletic team in the Dominican Republic,” comments Mr. Josef Katzgraber, Vice President and General Manager of the exclusive residential project Cap El Limón Samana, main sponsor of this event.
The 10K —as well as the non-competitive 5k component of the event, which can be either run or walked—will start and finish at Playa Morón and will cross the beautiful sceneries contemplating the lush and very green areas of these spectacular hills, through natural paths and exuberant vegetation, ending up in the crystal-blue waters of El Morón Beach.
“Las Terrenas 10k was the first road race in Samaná certified by the Association of International Marathons and Long Distance Races, AIMS and now Cross Country @ Playa Morón, 2013 becomes the second event in the region included in the AIMS calendar as well, this last event thanks to the sponsorship of Cap El Limon Samana through its T3 El Limón Triathlon Team. This initiates the drive to continuing organizing events of this sort for the benefit of promoting wholesome behavior in our general population and especially in our youth,“ says Alma Arellano, General Director of Sports Solutions DR / Las Terrenas Marathon.
This effort to support our young interested in athletic events includes a new training program for our area’s young athletes, also under the sponsorship of Cap El Limon Samana. For this purpose, FEDOMATLE´s Secretary General Professor Mariano Cedeño and Ramón Merego, Director of Long Distance Races, both athletics trainers, will start a series of training sessions in Las Terrenas and El Limon which will include topics such as preparation plans and types of training, objectives and long term techniques of long distance running, warming and post-race exercises, how to prevent injuries, and aspects of nutrition and hydration. These training sessions are free and will continue on once a month with the support of Sports Solutions DR / Las Terrenas Marathon.
You can register for Cross Country @ Playa Morón, 2013 online at Www. T3ElLimon. com, in Las Terrenas at Las Terrenas Language School, in Santo Domingo at the Runners Shop or at the offices of Santo Domingo Corre. For more information please contact info@t3ellimon. com or call Alma Arellano, General Director of Sports Solutions DR at 809 769 7267.
Contact: Jesús Iturralde, Organizing Director, Sports Solutions DR
C. Libertad no. 1, Suite 8, Las Terrenas, 809-240-6459, 829-645-7278
FIRST 10K ROAD RACE IN MORON BEACH: CROSS COUNTRY @ PLAYA MORON, 2013
Www. T3ElLimon. Com
Read original at Dominican Today.
(Posted 20:29 Monday by DRSol NewsHound. Viewed 4385 times.)
Dominican Today -
The last few years have been tough economically for many people. Unemployment fears combined with plunging home, stock and retirement account values caused many to forgo big vacations – even though stressful times are when we most need to recharge our batteries.
But with the economy turning around, many families are cautiously dipping their toes in the travel pool once again. Hotel occupancy rates have risen in many areas and airports are as crowded as ever.
Airlines and hotels are notorious for tacking extra charges onto their bills. Here are a few to watch out for:
A few airlines allow one free checked bag (Southwest still allows two), but most charge up to $25 for the first checked bag each way, and even more for additional pieces. Plus, most now tack on hefty fees for overweight and over-sized checked and carry-on luggage, so measure and weigh your luggage carefully.
Expect to pay extra for things like changing flights, extra leg room, priority boarding, unaccompanied minors, pets, Wi-Fi access and food. Some airlines even charge extra to speak to a live person or to buy your ticket at the airport counter or by phone.
Airfarewatchdog. com, Travelnerd. com and Kayak offer great fee comparison charts for various airlines; but always double-check the airline’s own posted rules before booking your flight.
Some hotels charge extra if you check in before a certain time. Ask whether they’ll store your luggage for free until check-in so you can begin sightseeing unencumbered.
Many hotels charge a hefty penalty if you don’t cancel a reservation 24 to 72 hours beforehand and some also charge an early-departure fee – sometimes the equivalent of one night’s lodging. Read the hotel’s cancellation policy before booking, especially if you’re looking at a discounted, non-refundable rate.
Minibars often have electronic sensors that trigger a charge if you simply move the contents. Also, water or snacks sitting on the dresser may appear to be complimentary, but double-check before consuming.
Hotel parking in major cities can cost up to $50 a day, and many have mandatory valet parking, which means adding a tip on top of that. Research nearby municipal parking lots beforehand, or check the city’s tourism bureau for hotels offering parking promotions. Sometimes using public transportation and taxis is cheaper overall than paying for parking.
Some hotels and resorts automatically add housekeeping or spa gratuities to your bill, so ask first before leaving your own tip – unless of course the service was terrific.
Most hotels charge exorbitant amounts for local and long-distance calls made from room phones, so use your cellphone.
Resorts often charge extra for services they offer – such as gym access or daily newspaper delivery – even if you don’t use them. Find out the policy ahead of time and scrutinize your bill for unused services.
Ask to see your bill the night before you check out, so you can review it carefully for overcharges.
If you’re traveling abroad, be aware that using your cellphone can be mighty expensive. Research your carrier’s international calling plan and ask whether your phone is compatible with foreign networks. You may need to rent an international cellphone, or buy or rent an unlocked phone and international SIM card.
If your budget’s in good shape and you’re getting wanderlust, maybe it’s time to venture out into the world again. Just be cautious about how hidden expenses can add up.
Jason Alderman directs Visa’s financial education programs. To Follow Jason Alderman on Twitter: www. twitter. com/PracticalMoney
To unsubscribe from this email list, please click here.
This email was sent by: Practical Money Skills for Life
Read original at Dominican Today.
(Posted 19:59 Monday by DRSol NewsHound. Viewed 4904 times.)
Dominican Today -
Dominican Republic- La Romana province prosecutor José Polanco Ramírez said Monday drug traffickers and killers-for-hire plan attempts on his life and those of his family, for which he was assigned more bodyguards.
He said Justice minister Francisco Dominguez and Police chief Jose A. Polanco already provided increased protection for him and his family, from the threat by the so-called “Cartel of the East. “
“We decided to confront organized crime,“ the official said, who noted that the alleged threats were uncovered through third parties. “It has been determined by interrogation, according to police, that there’s a serious threat to my life and our family. The National Police has warned us. “
He said the intimidation increased after the arrest of “Cartel of the East“ members, linked to in heinous crimes in that on other eastern cities, such as the recent shooting death of two men and two others wounded in the Car Wash-Café Coton.
Polanco Ramirez said he’s aware of the job’s risks, but does it regardless fear, even if some authorities might be linked to organized crime.
Read original at Dominican Today.
(Posted 19:29 Monday by DRSol NewsHound. Viewed 5377 times.)
Dominican Today -
Santo Domingo- The National Police on Monday relieved Col. Francisco Colon Perez of his duties as head of its Retirement Committee, after veteran investigative journalist Nuria Piera denounced the officer’s alleged corrupt actions. Col. Juan Solis was named Colon’s replacement.
Police chief Jose Polanco said the measure is pending a recommendation by a commission of senior officers designated to investigate the complaint against Colón.
According to Piera’s report, Colon used petty cash funds for personal use and also hired direct relatives at the police agency.
Read original at Dominican Today.
(Posted 18:59 Monday by DRSol NewsHound. Viewed 5743 times.)
The Dominican Sun - The United States Geological Survey (USGS) has just reported observing a minor earthquake in the Dominican Republic at 4:02 AST. Preliminary measurements give the quake a magnitude of 2. 5. The quake`s epicenter was located in the Mona Passage at latitude 18. 154N and longitude 67. 365W at a depth of 10. 87 miles. The earthquake occured at 4:02pm local time on Sunday. For detailed maps and information visit www. earthquakecloudpredictions. com Read original at The Dominican Sun.
(Posted 17:29 Monday by DRSol NewsHound. Viewed 6565 times.)
Dominican Today -
Santo Domingo- The Ministry Education on Thursday identified the regions and districts which have lost the most days of classes and instructed them to comply with the teaching calendar and to take full advantage of the time left before the school year ends on June 21.
Education Ministry Supervision director Esperanza Ayala said the regionals of Barahona, San Francisco de Macoris, San Pedro de Macoris and San Cristobal have lost the highest number of says.
Although the official didn’t specify the reasons behind the lost schooldays, the absences on the Monday after a three-day weekend are notorious across the country.
Read original at Dominican Today.
(Posted 16:59 Monday by DRSol NewsHound. Viewed 7182 times.)
Santo Domingo- The Dominican Government bestowed Thursday
the Duarte, Sanchez and Mella Medal of Merit on U. S. ambassador Raul Yzaguirre,
for his effort to strengthen commercial, political and cultural cooperation
between Santo Domingo and Washington .
President Danilo Medina Decree No. 125-13 bestows the
Dominican Government’s highest honor on Yzaguirre, as head of the U. S.
diplomatic mission for nearly three years.
The U. S. Embassy recently announced the diplomat’s resignation
for health reasons, adding that Yzaguirre departs pleased with the knowledge that
bilateral relations continue to prosper.
Santo Domingo- Navy Chief of staff Edwin Dominici on Thursday
announced that the military branch will take participate in the naval exercise
“Tradewinds 2013,“ to be held in St. Lucia from June 3.
He said a Navy commission headed the sendoff at the Sans
Souci Naval Base for the crew of the Coast Guard boat “Orion,“ which will
represent the Dominican Navy in the exercise.
Antigua, Barbuda,
Bahamas, Canada, Belize, Colombia, Jamaica, Guyana, Suriname, Trinidad and El
Salvador will participate in the exercise.
Barcelona- Thirteen Dominicans, five Spaniards and four
Colombians have been arrested for trafficking cocaine in Barcelona, where 4. 5
kilos of the drug were also seized, authorities said.
Most of the cocaine was hidden inside containers full of cosmetics,
according to the source quoted by local media.
The detainees, 17 to 48 years of age, formed part of two independent
groups, but who supplied drugs to each other according to consumer demand.
In the course of the investigation a shipment of 3. 7
kilos of cocaine from Dominican Republic was intercepted in Barcelona on April
17, transported by plane to Brussels and then by a Spanish train, with three
people arrested in that operation.
In another operation on May 3, the 19 people remaining were
arrested and another 800 grams of cocaine and other related material were
seized.
.png){kind=small}
Dominican Today -
Recent developments in Europe and North America, involving Barclays Bank and others in the manipulation of Libor rates, are truly shocking.
They bring into question not just the role of the banks concerned, but suggest that a once measured and conservative profession that people trusted, has in major financial centres become so self-seeking and lacking in morality that bankers at the highest levels are prepared to condone or order actions amounting to fraud on a global scale.
As this is being written the story is still unfolding.
In outline it is about falsifying the benchmark interest rate against which almost all global financial transactions take place. Libor –short for the daily London interbank offered rate - is the rate that establishes the costs to banks to borrow from each other and the figure against which almost all other rates are set for financial products and instruments ranging from swaps to complex derivatives, mortgages, personal savings and loans.
Around 20 major banks, in the US, Europe and Japan have received requests from their regulators to provide information on the setting of the Libor rate over a number of years, including at critical moments during the 2007-9 global banking crisis. The allegation is that these banks artificially lowered their Libor submissions to enhance their financial health.
Of these so far only Barclays has admitted that its traders and bankers did so and a fine of US$300m has been levied on it by UK and the US regulators.
But in an indication of quite how serious the consequent breakdown of trust is, the former British Chancellor of the Exchequer, Alistair Darling, has said that the Libor rate was one of the key indicators he used during the 2008 global banking crisis to assess the strength of banks, but that he now realised this was seriously flawed. “If you can’t trust banks on something as basic as this, what confidence can you have in them,” he told the London Financial Times.
Whether what is being revealed will result in legal actions against banks and individual bankers remains to be seen. However, the US Department of Justice is pursuing criminal and civil investigations and there is talk of class actions against the banks involved.
These are of course not just matters of concern to those who live in Europe or North America. In a global economy, banks operate across borders, Governments and institutions rely on them, and their role is as essential to the Caribbean’s financial systems as it is to the countries in which they are located.
For many who have lived or worked in the Anglophone Caribbean, the coupling of Barclays name with this scandal may seem unreal. Most remember Barclays Bank in the Caribbean, its network of offices and branches and the bank’s head office in London, as the repository of traditional values.
The bank of course gradually exited from the Caribbean. In 2001 after a 150 year presence, Barclays and CIBC announced that they were in discussions. This led to the combination of their retail, corporate and offshore operations in the region to create FirstCaribbean International Bank. Then in 2006 CIBC acquired Barclays’ stake, becoming the majority shareholder in FirstCaribbean
Although Barclays Caribbean ethos may now seem a little quaint, in many ways it has, together with the strong corporate culture of the Canadian banks in the region, resulted in the welcome if sometimes frustrating conservatism of Caribbean banking and its ability to remain more or less untouched by the crisis in the global banking system.
Notwithstanding, the regional financial system has been severely tested. Caricom Finance Ministers are still trying to work out how to respond on a regional basis to the multi-billion dollar failure in January 2009 of the Trinidad-based financial conglomerate, CLICO and its subsidiaries; and just three weeks ago a US judge sentenced Allen Stanford to 110 years in jail for his part in a US$7bn international fraud run out of Stanford International Bank Ltd in Antigua.
What has protected mainstream Caribbean banking is its limited integration with international financial markets. As a consequence it largely avoided exposure to the collapse of Lehman Brothers and others US financial institutions, did not buy mortgage backed securities, is not involved in high risk financial instruments like derivatives, has relatively low levels of overseas borrowings, has not confused wholesale and retail banking operations, and continues to have a clear commercial and social purpose.
Despite this there should be no room for complacency.
There remain worrying gaps in the ways in which financial institutions in the region are supervised and regulated. Economic and commercial linkages, common vulnerabilities, smallness and the danger of instability in the global financial system all suggest that there is pressing a need for a single set of rules supervised by a regional regulatory institution.
In an important speech in March that deserves much wider attention, Ewart Williams, the Governor of Trinidad’s Central Bank suggested a series of remedies. He argued for strengthened financial sector legislation that covers the banking system, insurance and the credit unions and a need to substantially upgrade and consolidate financial sector supervision. He also recommended all countries having national insurance schemes to cover deposits in banks to protect the less well off and for there to be national and regional crisis management plans. He made the point that financial sector legislation in the region is grossly deficient when compared to what obtains in advanced or emerging market countries and that there was a danger of regulatory arbitrage if legislation was not harmonised across the region.
Caricom Heads of government need to take more seriously the importance of what Governor Williams and other Central Bankers are saying, not least because of continuing global economic uncertainty. Unfortunately the absence of effective regional governance through Caricom may set aside or delay implementing many of these important, stabilising and common sense approaches.
What is now happening in North America and Europe suggests that avarice, the corrosive sense that big banks are above the law and will always be bailed out, and the continuing crisis in the Eurozone, could return to threaten the global economy . If unchecked there is a danger of social instability not least because these forces cast governments and social policies aside and leave ordinary people feeling helpless and marginalised. If there is another crisis, this time the Caribbean, now economically less robust, may not be immune.
David Jessop is the Director of the Caribbean Council and can be contacted at david. jessop@caribbean-council. org
Previous columns can be found at 
The Dominican Sun - Across the Dominican Republic in the last 24 hours the highest observed temperature by DRSol was 90 at Santiago. The coolest reading came from Las Americas with an overnight low of 70. A few spotty light to moderate rain showers were reported, and rain is being observed right now as well at Las Americas, Samana, La Isabella and Santiago. Skies were generally partly cloudy. Winds are averaging 10 mph from the SE, with a peak gust to 23 mph seen at 1PM this afternoon at Puerto Plata International. By the Numbers DR cities reported rain 18% of the time, and thunderstorms 0%. Average reported rainfall intensity on a scale of 0 to 100 was 39. Cloud cover totaled 52%. Click above to view summaries for the last week or last month. 
Dominican Today -
On Sunday, June 30, 2013, at 8:30 AM, the first 10K road race in the El Limón, Samaná area, the Cross Country @ Playa Morón, 2013 will take place starting and finishing at the beautiful Morón Beach, Samaná. This event is sponsored by Cap El Limon Samana, endorsed by the Dominican Federation of Athletic Associations, FEDOMATLE, organized by Las Terrenas Marathon and Sports Solutions DR, and it is the first international athletic event in the El Limón-Playa Morón area recognized by the Association of International Marathons and Distance Races, AIMS.
“Our aim is to promote athletic events in the region of Playa Morón, Agua Sabrosa and El Limón, and at the same time guide the youth of the area toward healthy practices through sports. It is for this reason that we are sponsoring the T3 El Limón Triathlon Team which we are supporting with equipment, training and the opportunity of becoming a leading athletic team in the Dominican Republic,” comments Mr. Josef Katzgraber, Vice President and General Manager of the exclusive residential project Cap El Limón Samana, main sponsor of this event.
The 10K —as well as the non-competitive 5k component of the event, which can be either run or walked—will start and finish at Playa Morón and will cross the beautiful sceneries contemplating the lush and very green areas of these spectacular hills, through natural paths and exuberant vegetation, ending up in the crystal-blue waters of El Morón Beach.
“Las Terrenas 10k was the first road race in Samaná certified by the Association of International Marathons and Long Distance Races, AIMS and now Cross Country @ Playa Morón, 2013 becomes the second event in the region included in the AIMS calendar as well, this last event thanks to the sponsorship of Cap El Limon Samana through its T3 El Limón Triathlon Team. This initiates the drive to continuing organizing events of this sort for the benefit of promoting wholesome behavior in our general population and especially in our youth,“ says Alma Arellano, General Director of Sports Solutions DR / Las Terrenas Marathon.
This effort to support our young interested in athletic events includes a new training program for our area’s young athletes, also under the sponsorship of Cap El Limon Samana. For this purpose, FEDOMATLE´s Secretary General Professor Mariano Cedeño and Ramón Merego, Director of Long Distance Races, both athletics trainers, will start a series of training sessions in Las Terrenas and El Limon which will include topics such as preparation plans and types of training, objectives and long term techniques of long distance running, warming and post-race exercises, how to prevent injuries, and aspects of nutrition and hydration. These training sessions are free and will continue on once a month with the support of Sports Solutions DR / Las Terrenas Marathon.
You can register for Cross Country @ Playa Morón, 2013 online at Www. T3ElLimon. com, in Las Terrenas at Las Terrenas Language School, in Santo Domingo at the Runners Shop or at the offices of Santo Domingo Corre. For more information please contact info@t3ellimon. com or call Alma Arellano, General Director of Sports Solutions DR at 809 769 7267.
Contact: Jesús Iturralde, Organizing Director, Sports Solutions DR
C. Libertad no. 1, Suite 8, Las Terrenas, 809-240-6459, 829-645-7278
FIRST 10K ROAD RACE IN MORON BEACH: CROSS COUNTRY @ PLAYA MORON, 2013
Www. T3ElLimon. Com
Read original at 
Dominican Today -
The last few years have been tough economically for many people. Unemployment fears combined with plunging home, stock and retirement account values caused many to forgo big vacations – even though stressful times are when we most need to recharge our batteries.
But with the economy turning around, many families are cautiously dipping their toes in the travel pool once again. Hotel occupancy rates have risen in many areas and airports are as crowded as ever.
Airlines and hotels are notorious for tacking extra charges onto their bills. Here are a few to watch out for:
A few airlines allow one free checked bag (Southwest still allows two), but most charge up to $25 for the first checked bag each way, and even more for additional pieces. Plus, most now tack on hefty fees for overweight and over-sized checked and carry-on luggage, so measure and weigh your luggage carefully.
Expect to pay extra for things like changing flights, extra leg room, priority boarding, unaccompanied minors, pets, Wi-Fi access and food. Some airlines even charge extra to speak to a live person or to buy your ticket at the airport counter or by phone.
Airfarewatchdog. com, Travelnerd. com and Kayak offer great fee comparison charts for various airlines; but always double-check the airline’s own posted rules before booking your flight.
Some hotels charge extra if you check in before a certain time. Ask whether they’ll store your luggage for free until check-in so you can begin sightseeing unencumbered.
Many hotels charge a hefty penalty if you don’t cancel a reservation 24 to 72 hours beforehand and some also charge an early-departure fee – sometimes the equivalent of one night’s lodging. Read the hotel’s cancellation policy before booking, especially if you’re looking at a discounted, non-refundable rate.
Minibars often have electronic sensors that trigger a charge if you simply move the contents. Also, water or snacks sitting on the dresser may appear to be complimentary, but double-check before consuming.
Hotel parking in major cities can cost up to $50 a day, and many have mandatory valet parking, which means adding a tip on top of that. Research nearby municipal parking lots beforehand, or check the city’s tourism bureau for hotels offering parking promotions. Sometimes using public transportation and taxis is cheaper overall than paying for parking.
Some hotels and resorts automatically add housekeeping or spa gratuities to your bill, so ask first before leaving your own tip – unless of course the service was terrific.
Most hotels charge exorbitant amounts for local and long-distance calls made from room phones, so use your cellphone.
Resorts often charge extra for services they offer – such as gym access or daily newspaper delivery – even if you don’t use them. Find out the policy ahead of time and scrutinize your bill for unused services.
Ask to see your bill the night before you check out, so you can review it carefully for overcharges.
If you’re traveling abroad, be aware that using your cellphone can be mighty expensive. Research your carrier’s international calling plan and ask whether your phone is compatible with foreign networks. You may need to rent an international cellphone, or buy or rent an unlocked phone and international SIM card.
If your budget’s in good shape and you’re getting wanderlust, maybe it’s time to venture out into the world again. Just be cautious about how hidden expenses can add up.
Jason Alderman directs Visa’s financial education programs. To Follow Jason Alderman on Twitter: www. twitter. com/PracticalMoney
To unsubscribe from this email list, please click here.
This email was sent by: Practical Money Skills for Life
Read original at 
Dominican Today -
Dominican Republic- La Romana province prosecutor José Polanco Ramírez said Monday drug traffickers and killers-for-hire plan attempts on his life and those of his family, for which he was assigned more bodyguards.
He said Justice minister Francisco Dominguez and Police chief Jose A. Polanco already provided increased protection for him and his family, from the threat by the so-called “Cartel of the East. “
“We decided to confront organized crime,“ the official said, who noted that the alleged threats were uncovered through third parties. “It has been determined by interrogation, according to police, that there’s a serious threat to my life and our family. The National Police has warned us. “
He said the intimidation increased after the arrest of “Cartel of the East“ members, linked to in heinous crimes in that on other eastern cities, such as the recent shooting death of two men and two others wounded in the Car Wash-Café Coton.
Polanco Ramirez said he’s aware of the job’s risks, but does it regardless fear, even if some authorities might be linked to organized crime.
Read original at 
Dominican Today -
Santo Domingo- The National Police on Monday relieved Col. Francisco Colon Perez of his duties as head of its Retirement Committee, after veteran investigative journalist Nuria Piera denounced the officer’s alleged corrupt actions. Col. Juan Solis was named Colon’s replacement.
Police chief Jose Polanco said the measure is pending a recommendation by a commission of senior officers designated to investigate the complaint against Colón.
According to Piera’s report, Colon used petty cash funds for personal use and also hired direct relatives at the police agency.
Read original at 
Dominican Today -
Santo Domingo- The Ministry Education on Thursday identified the regions and districts which have lost the most days of classes and instructed them to comply with the teaching calendar and to take full advantage of the time left before the school year ends on June 21.
Education Ministry Supervision director Esperanza Ayala said the regionals of Barahona, San Francisco de Macoris, San Pedro de Macoris and San Cristobal have lost the highest number of says.
Although the official didn’t specify the reasons behind the lost schooldays, the absences on the Monday after a three-day weekend are notorious across the country.
Read original at 
Dominican Today -
Dominican Today -
Dominican Today -
