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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Statistics Institute unveils website of P.R. key indicators
December 18, 2015
The Puerto Rico Statistics Institute unveiled Thursday the Puerto Rico Indicators System, a new online tool developed by the government entity to provide access to the island’s most important statistical indicators through a single platform.
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Fed interest rate hike likely not to impact P.R. economy
December 17, 2015
The decision announced Wednesday by the Federal Reserve System to increase interest rates by 25 basis points “does not represent a significant impact” on Puerto Rico’s economy or for bank customers.
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P.R. credit unions show ‘solid performance’ in past 5 yrs
December 17, 2015
Puerto Rico’s credit unions have shown “solid performance” over the past five years, with an 8 percent growth in assets and membership growth of nearly 10 percent.
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PREPA saves $312M via operational ‘transformation’
December 16, 2015
In the 15 months it has been working with stateside firm AlixPartners, the Puerto Rico Electric Power Authority has accrued $162 million in annual benefits, plus another $150 million in one-time benefits through a comprehensive operational overhaul, Chief Restructuring Officer Lisa Donahue told board members Tuesday.
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P.R. governor announces he will not seek 2nd term
December 15, 2015
Puerto Rico Gov. Alejandro García-Padilla announced Monday he will not seek re-election to his post next year, to “concentrate” on addressing the island’s fiscal problems.
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Costco to invest $2.5M in 1st gas station at Carolina store
December 15, 2015
Costco Wholesale Corp. will finally be able to break ground on its first gasoline station in Puerto Rico, a $2.5 million project that recently got the go-ahead from the Puerto Rico Permits Management Office.
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