GDB waiting for ‘global’ restructuring offer for $48B debt
May 31, 2016
The Puerto Rico Government Development Bank is waiting for creditors to submit a “global” restructuring offer that would address some $48 billion in debt in its entirety, rather than piecemeal, agency President Melba Acosta said during budget hearings Monday.
chat_bubble0 Comment
visibility3037 Views
Private sector balks at PREPA’s planned rate hikes
May 27, 2016
Puerto Rico’s private sector, represented by more than 20 organizations, on Thursday banded together to reject the proposed energy rate increases unveiled by the Puerto Rico Electric Power Authority this week.
chat_bubble0 Comment
visibility3403 Views
Claro, Piloto 151 join to back start-up tech community
May 27, 2016
Telecommunications provider Claro and Piloto 151 announced Thursday a partnership to provide Puerto Rico’s technological start-up community the infrastructure, mentoring and training needed for their growth, representatives for both companies confirmed.
chat_bubble0 Comment
visibility4767 Views
PROMESA advances to House floor; CNE won’t endorse
May 26, 2016
The PROMESA Act (H.R. 5278), the bill aimed to address Puerto Rico’s debt crisis, passed in the U.S. House Natural Resources Committee Wednesday with bipartisan support from lawmakers.
chat_bubble0 Comment
visibility5046 Views
MER Group opens $12M ship recycling facility in Ceiba
May 26, 2016
The Marine Environmental Remediation Group, flanked by Puerto Rico government officials, announced Wednesday the agreement to establish a new ship recycling facility in the marine port of the former Roosevelt Roads U.S. Naval Base located in Ceiba.
chat_bubble2 Comments
visibility9682 Views
Agro Tropical wins ‘EnterPRize’ competition
May 26, 2016
Agro Tropical, Inc., a Puerto Rican start-up that produces sustainable high quality agricultural products, including vegetables and high performance seeds, emerged as the winner of the 11th edition of the “EnterPRize” business competition hosted by Grupo Guayacán Inc.
chat_bubble0 Comment
visibility42470 Views
‘PROMESA’ bill up for U.S. House Committee vote today
May 25, 2016
H.R. 5278, also known as the “Puerto Rico Oversight, Management, and Economic Stability Act,” which seeks to establish an Oversight Board to assist the government of Puerto Rico and its agencies in managing its public finances, will move for a vote by members of the U.S. House Committee on Natural Resources today, when nearly two dozen amendments will be considered.
chat_bubble0 Comment
visibility3313 Views
P.R. consumers spending 4% less on groceries this year
May 25, 2016
Puerto Rico consumers are spending 4 percent less on their groceries this year, in comparison to 2015, to $406 from $425 a month, representing the lowest out-of-pocket expenditure registered in the last decade, this year’s edition of the Puerto Rico Marketing, Industry and Food Distribution Chamber’s Consumer X-Ray study revealed.
chat_bubble0 Comment
visibility2823 Views
Governor pitches $9.1B budget, reserves $209M for debt
May 24, 2016
Puerto Rico Gov. Alejandro García-Padilla on Monday unveiled a proposed budget for Fiscal 2017 of $9.1 billion, down $700 million from the original budget that was approved last year and $192 million less than the adjusted current budget.
chat_bubble0 Comment
visibility3140 Views
U.S. Congress submits revised Puerto Rico legislation
May 19, 2016
The U.S. House of Representatives submitted late Wednesday H.R. 5278, the “Puerto Rico Oversight, Management, and Economic Stability Act,” which includes several revisions to the original bill proposing an oversight board and a debt-restructuring framework for the island.
chat_bubble0 Comment
visibility2641 Views
Backyard Bondholders support fiscal control board
May 19, 2016
Backyard Bondholders, a nonprofit organization representing individual Puerto Rico creditors, on Wednesday said it favors the adoption of a fiscal control board to facilitate an orderly debt restructuring process.
chat_bubble0 Comment
visibility2862 Views
Bristol-Myers pumps $85M into Manatí plant expansion
May 18, 2016
Global biopharmaceutical company Bristol-Myers Squibb, accompanied by Puerto Rico government officials, confirmed Tuesday an $85 million investment to expand its manufacturing plant in Manatí.
chat_bubble0 Comment
visibility10405 Views
P.R. loses another major convention over Zika fears
May 18, 2016
The Internet Corporation for Assigned Names and Numbers (ICANN) confirmed Tuesday the cancellation of its upcoming convention slated to take place in San Juan, due to concerns related to the Zika virus, Akram Atallah, first president of ICANN's global domains division, said.
chat_bubble0 Comment
visibility3136 Views
Tax season boosts Treasury collections to $1.2B in April
May 17, 2016
The Treasury Department confirmed Monday net revenues recorded by the General Fund in April 2016 totaled $1.28 billion, $76.2 million above revised estimates, and $47.7 million below net revenues in April 2015.
chat_bubble0 Comment
visibility2422 Views
Weekend Wheels: Toyota hybrids are all-inclusive rides
May 17, 2016
The Toyota family of hybrid vehicles includes a new generation of members that are excelling at performance, elegance and comfort. Over the past two weekends, this media outlet got the opportunity to test drive two of them — the 2016 RAV4 and Prius — confirming that for many reasons, their sticker price is a long-term investment that pays off.
chat_bubble0 Comment
visibility3556 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA