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.
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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.
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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.
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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.
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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.
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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.
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New tenants moving into Plaza Las Américas
May 17, 2016
The Plaza Las Américas shopping mall is ushering in several new tenants in coming months, including Zapaventura, BienLatino, a second store Starbucks and Olive Garden.
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Iberia reestablishes direct Madrid-P.R. air connection
May 16, 2016
Puerto Rico government officials welcomed Sunday the return of Spanish airline Iberia, which has resumed direct flights after a three-year absence.
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Court: Gov’t will have to turn over bondholder info
May 13, 2016
After nearly a year of litigation, the Center for Investigative Journalism on Thursday confirmed another legal victory in its battle against the Government Development Bank for Puerto Rico to gain access to information about the hedge funds that hold the Commonwealth’s public debt.
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Governor, private sector lobby directly with Ryan
May 12, 2016
Puerto Rico Gov. Alejandro García-Padilla and members of the island’s private sector held meetings with key lawmakers in Congress, including U.S. House Speaker Paul Ryan, to discuss the bill that would address the Commonwealth’s fiscal crisis.
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García-Padilla meets with creditor advisors in NYC
May 11, 2016
Puerto Rico Gov. Alejandro García-Padilla met with a group of unidentified advisors to the Commonwealth’s creditors to communicate, first hand, the need for Puerto Rico reach a broad restructuring of its $70 billion public debt to sustainable levels, his office said Tuesday.
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U.S. Health Dept. awards $5.6M to 6 P.R. care centers
May 6, 2016
The U.S. Department of Health and Human Services announced Thursday it has assigned more than $5.6 million to six rural primary health care centers in Puerto Rico to renovate, expand or build facilities.
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Economist: GDB liquidation could be messy proceeding
May 5, 2016
A liquidation of the Government Development Bank for Puerto Rico could be a messy proceeding, because there is no precedent for determining how debt responsibilities and assets would be assigned, Economist and Professor Antonio Fernós-Sagebien predicted Wednesday.
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EVERTEC unveils updated mobile payment solution
May 5, 2016
Electronic transaction processing firm EVERTEC announced Wednesday the availability of the new version of its mobile payment solution, EVERPay mPOS.
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P.R.-based e-transactions firm Paytech becomes Accepta
May 4, 2016
PayTech Corp., a Puerto Rican operation with a track record of more than 12 years in the electronic payment processing and financial technology industries, announced Tuesday the sale of its assets to Accepta LLC., through $2 million capital investment deal.
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