Fitch: Ch. 9 extension would be a positive for Puerto Rico
August 7, 2014
The extension of Chapter 9 provisions governing the adjustment of municipal debt in Puerto Rico would be a positive and important development for Puerto Rico and holders of debt of its public utilities and public instrumentalities, Fitch Ratings said Wednesday.
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Nova Southeastern Univ. opens campus in Puerto Rico
August 7, 2014
Nearly two decades after first inserting itself into Puerto Rico’s pharmacy education setting through partnerships with local colleges, Nova Southeastern University will open the doors this month to its own stand-alone campus to further its mission of preparing professionals.
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Puerto Rico farmers still on time to apply for USDA funds
August 7, 2014
Puerto Rico farmers and ranchers still have time to apply for low interest 2014 loans available through the U.S. Department of Agriculture’s Farm Service Agency’s direct farm ownership program.
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Gov’t backs extending Roosy Roads Authority law
August 6, 2014
High-ranking García-Padilla administration officials this week backed the proposed extension of Law 508 to stretch the life of the Roosevelt Roads Local Redevelopment Authority for an additional 30 years.
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Auto dealer offers up to $3K to help consumers upgrade
August 6, 2014
Given the large volume of people driving around cars that have surpassed their useful life in the market, a Puerto Rican auto dealership has come up with an incentive to help consumers upgrade to a newer unit.
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Sacred Heart University announces new president
August 5, 2014
Sacred Heart University in Santurce has a new president, Gilberto Marxuach-Torrós, named by the institution’s trustees to succeed José Jaime Rivera, who announced his resignation in February after heading the Catholic college for more than two decades.
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Economist: Solving PR’s power costs conundrum feasible
August 4, 2014
The island’s electricity costs — significantly high in comparison to most competitive economies — could be solved by making a series of difficult choices to fix the Puerto Rico Electric Power Authority’s escalating problems and take advantage of a new energy order that is driving down prices around the globe.
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Puerto Rico’s economic activity slides on public payroll
August 4, 2014
Puerto Rico’s economic activity index for the month of June showed a 1.0 percent year-over-year reduction, after showing a 1.1 percent YOY decrease in June 2014.
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Puerto Rico to host regional telecom conference
August 4, 2014
Puerto Rico will host this year’s annual Latin American Forum of Telecommunications Regulators convention in November, when industry representatives from the region will convene to discuss and seek solutions to current issues.
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Hoteliers tell Senate of ‘Porta del Sol’ shortcomings
July 31, 2014
The head of the Puerto Rico Small Inn Owners Association, Tomás Ramírez, told lawmakers Wednesday that the so-called Porta del Sol strategic plan for the island’s western flank has had “a disjointed and slow implementation.”
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Colombia pursues exchange with Puerto Rican IT sector
July 29, 2014
NEW YORK — Colombia, a country that in the first quarter of 2014 saw an economic growth of 6.4 percent year-over-year, is aggressively pursuing business opportunities in the Americas through commercial agreements with a spectrum of sectors.
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Oriental grants $1.4M loan to Bettina Cosmetics Inc.
July 29, 2014
Oriental Bank’s corporate banking division recently granted Puerto Rican company Bettina Cosmetics Inc. a loan exceeding $1.4 million, in keeping with its goal of supporting the island’s economic development.
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UTC Aerospace Systems expands Puerto Rico presence
July 23, 2014
UTC Aerospace Systems announced Tuesday, in tandem with the government that it has created more than 200 jobs in recent months in its affiliates in Puerto Rico, where it plans to invest an additional $9M in its Santa Isabel operations to meet increased demand for its products.
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BlueMountain Capital Management sues gov’t, PREPA
July 22, 2014
BlueMountain Capital Management, LLC filed a lawsuit on Tuesday against the government of Puerto Rico, challenging the legality of a new law that allows certain public corporations to avoid their debts.
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Gov’t defends strategy, lays out numbers for investors
July 18, 2014
Gov. Alejandro García-Padilla and members of his fiscal team faced investors during a webcast Thursday, during which they defended the administration’s strategy thus far to turn around the island’s grim financial situation.
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