Several store closings rattle Puerto Rico’s retail sector
January 12, 2016
Several retailers are ringing in 2016 by exiting the market, with the confirmed closings of several stores at The Mall of San Juan and throughout the island.
chat_bubble2 Comments
visibility6958 Views
PREPA overhaul bill ‘mortal blow’ for citizens, industry
January 11, 2016
A group of representatives for Puerto Rican consumers, businesses, industries, and workers warned Sunday that the legislative approval of the Puerto Rico Electric Power Authority Revitalization Act will deliver “a mortal blow” to the island’s already critical economic situation.
chat_bubble1 Comment
visibility5295 Views
Law passed to increase gov’t buys from small businesses
January 11, 2016
A bill amending Law 62 of 2014 calling for an increase in government purchases from local small and mid-sized businesses from 20 percent to 30 percent starting this year has been signed into law, House Speaker Jaime Perelló announced.
chat_bubble0 Comment
visibility3852 Views
CPA’s to host talk on impact of debt restructuring
January 11, 2016
The Puerto Rico Society of Certified Public Accountants will host a seminar on how the island’s economic scenario will affect the insurance sector, which is expected to take a hit from the government’s debt restructuring process.
chat_bubble0 Comment
visibility3010 Views
Ambac sues Puerto Rico gov’t over ‘illegal’ clawbacks
January 8, 2016
New York-based Ambac Financial Group Inc. on Thursday filed a lawsuit to protect its rights against what it deemed the “illegal" clawback of certain revenue by the Commonwealth put into effect last month.
chat_bubble0 Comment
visibility4342 Views
Ch. 11 cases soar in Dec., with bankruptcy activity up 5%
January 5, 2016
Bankruptcy filings were up 5 percent year-over-year in December 2015, when the number of Chapter 11 cases on record soared by 385 percent when compared to the same month last year, according to preliminary figures released Monday by research firm Boletín de Puerto Rico.
chat_bubble0 Comment
visibility3982 Views
García-Padilla: P.R. to make most of debt payment in Jan.
December 31, 2015
The government of Puerto Rico will make most of its $1 billion debt payment due Jan. 1, defaulting only on some $37 million of the amount, Gov. García-Padilla said Wednesday.
chat_bubble0 Comment
visibility4572 Views
Puerto Rico’s economic activity drops 0.5% YOY in Nov.
December 30, 2015
Drops in electric power generation, gasoline consumption and cement sales kept Puerto Rico’s economic activity in negative territory in November, according to the Government Development Bank’s Economic Activity Index (GDB-EAI) released Tuesday.
chat_bubble0 Comment
visibility3268 Views
Tech co.’s partner to boost e-payment security
December 30, 2015
Puerto Rican technology company e-Nabler — creator of mobile point-of-sale system e-Mobile POS — and Elavon, an international e-payment processing company recently formed an alliance to streamline and improve the security of these types of transactions in the local market.
chat_bubble0 Comment
visibility3876 Views
PREPA, creditors agree to financial restructuring plan
December 24, 2015
The Puerto Rico Electric Power Authority announced early Thursday that it has reached an agreement with creditors holding approximately 70 percent of its financial debt.
chat_bubble0 Comment
visibility4123 Views
Weekend Wheels: 2016 Toyota Tacoma delivers power
December 23, 2015
The newly redesigned 2016 Toyota Tacoma, which arrived to the Puerto Rico market looking to uphold its command as the industry’s medium-sized pickup segment, is as powerful as it is elegant.
chat_bubble0 Comment
visibility4148 Views
Treasury may still collect from bankrupt businesses
December 22, 2015
The offensive launched by the Puerto Rico Treasury Department in November to crack down on retailers that collected sales and use tax revenue, but failed to remit it to the agency has unleashed a string of bankruptcy filings by those businesses, which appear to have turned to the court for protection.
chat_bubble0 Comment
visibility3557 Views
AT&T opens new store at Route 66 Outlet mall
December 22, 2015
Wireless carrier AT&T recently opened a new retail space at the Route 66 Outlet mall in Canóvanas to better serve area customers, upgrading from a kiosk to the new 3,000 square-foot retail space.
chat_bubble0 Comment
visibility4620 Views
Despite falling liquidity, gov’t to pay Christmas bonus
December 21, 2015
With an estimated $700 million in the Government Development Bank’s coffers and a Treasury Department that reported $488.6 million in revenue collections in November, Gov. Alejandro García-Padilla announced Sunday public sector employees will receive their Christmas bonuses, as established by law.
chat_bubble0 Comment
visibility3730 Views
New $3M Hotel Decanter opens its doors in Old San Juan
December 18, 2015
A new $3 million boutique hotel — Hotel Decanter — recently opened in Old San Juan, adding to the historic city’s roster of options of places to stay.
chat_bubble1 Comment
visibility5045 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA