Bondholders withdraw claim against GDB over transfers
April 14, 2016
A little more than a week after filing a motion for a temporary restraining order (“TRO”) against the Government Development Bank, a group of creditors owning Puerto Rico bonds confirmed Wednesday they have withdrawn their request.
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Treasury collects $929.7M in March fueled by sales tax
April 14, 2016
Treasury Secretary Juan Zaragoza-Gómez confirmed Wednesday that net revenues recorded by the General Fund in March 2016 totaled $929.7 million, a $91.1 million increase compared to March 2015 net revenues, and $5.3 million below revised estimates.
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Bankers Assoc. asks gov’t to uphold PREPA restructuring
April 14, 2016
The Puerto Rico Bankers Association said Wednesday the government’s decision to include Puerto Rico Electric Power Authority in the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act could jeopardize the closing this year of the consensual restructuring support agreement.
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U.S. Republican lawmakers release oversight board bill
April 13, 2016
The House Committee on Natural Resources released H.R. 4900, the “Puerto Rico Oversight, Management, and Economic Stability Act” (known as PROMESA), co-sponsored by Committee Chairman Rob Bishop (R-UT) and Rep. Sean Duffy (R-WI).
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P.R. makes debut in IMF World Economic Outlook report
April 13, 2016
Puerto Rico has been included for the first time in the International Monetary Fund’s World Economic Outlook report released Tuesday, opening doors for future economic development, local executives in charge of representing the island before the entity said.
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RocketFix Mobile enters P.R.’s device repair market
April 13, 2016
RocketFix Mobile, a Puerto Rican company that “seeks to become the mechanic for your cellphone” announced plans to have eight stores operating throughout the island next month, all inside Sears locations.
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P.R. Consortium for Clinical Investigation initiative born
April 13, 2016
The Puerto Rico Consortium for Clinical Investigation, supported by the Puerto Rico Science, Technology and Research Trust, was officially announced Tuesday to officially begin clinical investigations.
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P.R. named as ‘test site’ in preparation for 2020 Census
April 13, 2016
The U.S. Census Bureau announced Tuesday it plans to conduct a test census in selected areas within Puerto Rico beginning February 2017.
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Island Creamery Inc. new Baskin-Robbins PR franchisee
April 13, 2016
Baskin-Robbins announced Tuesday that Island Creamery Inc. has acquired more than 20 Baskin-Robbins shops in Puerto Rico, becoming the brand's new sole franchisee on the island.
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Local delegation bears down on DC lawmakers this week
April 12, 2016
A broad group of public and private-sector representatives from Puerto Rico are bearing down on Washington lawmakers this week, when a draft of the bill proposing an oversight board for the island is expected to be released and discussed during a hearing Wednesday.
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S&P lowers GDB’s rating over debt moratorium law
April 12, 2016
The Puerto Rico government’s decision to enact a debt moratorium and declare a state of emergency at the Government Development Bank prompted ratings agency S&P to downgrade the agency and Moody’s to warn of looming creditor lawsuits.
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Survey: PR meets academic expectations of int’l students
April 12, 2016
Puerto Rico is an attractive academic destination for international students who confirmed in a recent survey commissioned by the Foundation for Puerto Rico that their expectations are met.
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Op-Ed: P.R. banking sector fully transformed in 10 years
April 12, 2016
In the past 10 years, the size of the local economy has shrunk by 14 percent, total employment has dropped by 21 percent (more than 250,000 jobs) and the total population has decreased by 9 percent.
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Assured supports proposal to restructure P.R. GO bonds
April 12, 2016
Debt insurer Assured Guaranty has aligned with the Ad Hoc Group of Puerto Rico's General Obligation Bondholders, agreeing to the deferral of principal repayment of Puerto Rico General Obligation Bonds on terms “economically consistent with the previously released term sheet,” the group said Monday.
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Coliseo de Puerto Rico ranks among top 20 in the world
April 12, 2016
The Coliseo de Puerto Rico has been ranked 15th in the list of Top 100 arenas worldwide in Pollstar Magazine's 2016 rankings, venue officials confirmed Monday.
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