Gamers gather in Santurce for electronic gaming tourney
July 23, 2014
More than 350 gamers converged in Santurce this past Saturday to participate in the “Optico Fiber Gaming — No Lag Allowed” tournament. The event, organized by Electronic Sports Puerto Rico, was held at the Telegrafo building at the hart of the sector’s Digital Corridor.
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AT&T expands 4G LTE to Vega Alta, Toa Baja, Cayey
July 17, 2014
As part of its continuing network investment and ongoing 4G LTE rollout, AT&T has added three mobile Internet cell sites in Vega Alta, Toa Baja and Cayey to expand its 4G LTE coverage for area residents and businesses, the company announced this week.
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S&P lowers ratings for PRASA, GDB bonds
July 15, 2014
Standard & Poor's Ratings Services continued the downgrading streak by credit ratings agencies in recent weeks, by slashing the standing of the Puerto Rico Aqueduct & Sewer Authority and the Government Development Bank on Monday.
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Fitch: Puerto Rico bonds decline following Recovery Act
July 14, 2014
Declines in pricing of Puerto Rico bonds added further pressure to already depressed net asset values of Puerto Rico mutual funds, according to Fitch Ratings, which added that Fitch-rated Puerto Rico fund managers are reacting swiftly by adding to collateral supporting rated notes and deleveraging where needed.
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S&P, Fitch re-aim at PREPA, Puerto Rico’s GO bonds
July 10, 2014
Standard & Poor's Ratings Services on Wednesday announced it has lowered its rating on Puerto Rico Electric Power Authority's power revenue bonds four notches to “B-“ from “BB,” further deepening the agency’s credit woes.
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Puerto Rico bankruptcies at -9% year-over-year in June
July 2, 2014
Bankruptcy cases filed in Puerto Rico for the month of June were down 9 percent when compared to the same month last year, a preliminary tally from Boletín de Puerto Rico released Tuesday showed.
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Puerto Rico’s economic activity down 1.1% in May
June 30, 2014
The Government Development Bank released late Friday the Economic Activity Index for the month of May, which reflected a 1.1 percent year-over-year reduction, slightly lower than the 1.3 percent on record for April.
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Puerto Rico agencies showered with credit downgrades
June 30, 2014
The U.S. mainland’s three credit ratings agencies showered Puerto Rico with downgrades and warnings of further revisions Friday, upholding a trend that began a day earlier in response to the filing of a bill paving the way for the restructuring of fiscally troubled public agencies.
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NY Fed Chief raises red flag about Puerto Rico’s debt
June 25, 2014
Stabilizing Puerto Rico’s $70 billion debt as a share of its income and reducing it to more sustainable levels should be a key goal of the island’s fiscal and economic policy, New York Fed CEO William Dudley said during a presentation to the CPA Society on Tuesday.
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CNE: ‘Fiscal ’15 budget will not be structurally balanced’
June 19, 2014
Contrary to what the government has been asserting over the past few months, the proposed budget for Fiscal 2015 will not be a balanced one because it is not factoring in sufficient appropriations to cover bond interest payments due, the Center for a New Economy said Wednesday.
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Liberty launches 100Mbps high-speed Internet service
June 19, 2014
In an effort to provide new and higher Internet speeds for a better value, Liberty Puerto Rico announced Wednesday the availability of high-speed broadband of 100Mbps download with 4Mbps for upload.
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Lara: 2015 ‘emergency budget’ is 1st step to recovery
June 13, 2014
The government’s proposed budget for Fiscal 2015 is an “emergency budget” that should not be confused with the fiscal framework Puerto Rico should have to ensure the economy works the way it wants it to in the future.
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182K ex-Centennial clients to split $1M in suit settlement
June 11, 2014
A group of 182,442 customers of the defunct Centennial de Puerto Rico will be splitting about $1 million after winning a class-action suit against the carrier that is now part of AT&T Puerto Rico over improperly collected municipal tax fees from July 2009 to December 2009.
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Economist: Puerto Rico has a lot to learn from NYC crisis
June 9, 2014
Puerto Rico is in the throes of one of the most serious economic depressions in the last 40 years of its history as a Commonwealth. However, it is not alone in its experience, which could be compared to the fiscal crisis New York City faced in 1975, when it was on on the verge of defaulting on its obligations.
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Survey: Puerto Rico broadband availability reaches 77%
June 5, 2014
New research released Wednesday by Connect Puerto Rico shows that broadband availability at speeds of at least 50 Mbps download/1.5 Mbps upload available in Puerto Rico has more than tripled from 24.3 percent in October 2013 to 76.9 percent in April 2014, excluding mobile wireless services.
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