Op-Ed: Puerto Rico must once again show its true colors
July 13, 2016
During the last few years we have all been at times crushed by that uneasy feeling caused by this extended recession, and more recently by the passage of the Puerto Rico Oversight, Management, and Economic Stability Act ("PROMESA") of 2016, both of which continue to hover over our daily life as an unwelcome guest that has prolonged its visit longer than expected, refusing to leave.
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Samsung, Banco Popular partner to launch Samsung Pay
July 13, 2016
Samsung Electronics Co., Ltd. announced Tuesday it is bringing mobile payment system Samsung Pay to Puerto Rico, supported by Banco Popular’s eligible credit cards.
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P.R. Tourism Co. reports 6% hike in summer bookings
July 12, 2016
The Puerto Rico Tourism Co.’s fourth annual “Summer is Easy” promotion is outpacing last summer's bookings, generating a 6 percent rise in participating partner room night sales in May and a 7 percent rise in June, versus the same months in 2015, the agency said Monday.
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US House OKs bill to protect investors in P.R., territories
July 12, 2016
The U.S. House of Representatives approved Monday legislation authored by U.S. Rep. Nydia M. Velázquez (D-NY) to close a decades-old loophole that has caused significant financial losses for many Puerto Rican investors and retirees.
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New car sales +3.8% YOY in P.R. in June, +1.4% so far
July 12, 2016
New car sales in Puerto Rico totaled 7,979 units in June, representing a growth of 3.8 percent over the same month in 2015, the United Automobile Importers Group (known as GUIA by its Spanish acronym), reported Monday.
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Assured has paid $205M in bond insurance claims
July 8, 2016
Two bond insurance subsidiaries of Assured Guaranty Ltd. have made some $205 million in debt service payments to holders of insured General Obligation and other bonds on which Puerto Rico and certain of its entities defaulted on July 1, the company announced Thursday.
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Op-Ed: Why is it ‘yes’ to them and ‘no’ to us?
July 7, 2016
For years it has been a customary practice to provide incentives to large foreign companies and chain stores that decide to land in Puerto Rico, from the very moment they plan to settle here.
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OBALearn nabs national business certification
July 7, 2016
OBALearn, an online learning company based in San Juan that provides training for the individual and corporate market in financial and cost management, has received the national certification as a Women’s Business Enterprise by the Women’s Business Development Council of Florida, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC). “We’re proud […]
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P.R. legal-assistance firm gets $11.8M in BofA settlement
July 6, 2016
The Fundación Fondo Acceso a la Justicia Inc., a legal-assistance organization based in Guaynabo, is receiving more than $11.8 million from a Bank of America mortgage settlement with the U.S. Department of Justice and six states, said Eric D. Green, independent monitor of the Aug. 2014 case.
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Yauco coffee grower ordered to pay $101K in back wages
July 6, 2016
A consent judgment has been filed in federal district court ordering a Yauco coffee grower to pay $101,484 in back wages to more than 170 year-round farm workers and seasonal coffee pickers who the company underpaid between 2011 and 2014.
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Aerostar celebrates 3rd annual debris-removal event
July 6, 2016
Employees at Luis Muñoz Marín International Airport, along with representatives from different airlines and members of the airport community, celebrated their 3rd annual FOD (Foreign Object Debris) Walk with the goal of cleaning up ramps and other areas where airplanes operate.
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GDB bondholders seek to continue court challenge
July 5, 2016
Puerto Rico Government Development Bank bondholders filed a motion to ensure that they may continue to pursue their constitutional challenges to the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act, Law 21 of 2016, known as the “Moratorium Act.”
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PREPA reaches deal with creditors; S&P cuts rating
July 1, 2016
The Puerto Rico Electric Power Authority announced Thursday its intention to pay all principal and interest due on July 1, 2016 under its power revenue bonds in accordance with the terms of an agreement with creditors holding approximately 70 percent of the utility’s outstanding debt, company officials said.
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AT&T invested $100M in network upgrades in P.R. in ’15
July 1, 2016
Wireless carrier AT&T made 460 wireless network upgrades in Puerto Rico, added four new cell sites, and completed more than 450 network capacity enhancements last year, when it invested some $100 million in its infrastructure, the company said Thursday.
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P.R Premium Outlets gets ’16 TripAdvisor nod
July 1, 2016
Puerto Rico Premium Outlets announced Thursday it has received a TripAdvisor Certificate of Excellence.
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