GDB issues $450M in COFINA-backed debt
November 18, 2011
The Government Development Bank turned to the bond market last week, issuing $450 million in debt in less than a day, and will repeat the action again in two weeks, when it will seek to raise another $1.1 billion, agency President Juan Carlos Batlle said Thursday.
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EDB, UPR join to light entrepreneurial spark in students
November 9, 2011
Economic Development Bank President Ivonne Otero and University of Puerto Rico President Miguel Muñoz unveiled Tuesday the "University Business Movement" program, a new initiative that seeks to promote an entrepreneurial spirit among college students.
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SBA extends deadline to apply for Hurricane Irene damage to Nov. 25
October 31, 2011
The U.S. Small Business Administration said Monday it has extended the deadline for homeowners, renters, businesses and nonprofit organizations in Puerto Rico to return applications for physical damage caused by Hurricane Irene. Since launching the assistance program in August, the agency has approved more than $3 million in loans.
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SBA approves more than $2M in Hurricane Irene-related disaster loans
October 19, 2011
With just a week to go before the Oct. 26 deadline to submit disaster loan applications, the U.S. Small Business Administration announced Wednesday that so far it has approved $2 million in assistance for damages sustained by local businesses and residents in the wake of Hurricane Irene earlier this year.
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Metropistas: Highway PPP ‘model to follow’
October 11, 2011
Metropistas, the consortium of companies that is now running PR-22 and PR-5, will use the public-private partnership agreement established with the government as the model to possibly secure similar deals in the U.S. mainland, company officials said Monday.
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U.S. Dept. of Commerce looks to include P.R. stats in national GDP numbers
October 10, 2011
Representatives from the U.S. Department of Commerce’s Bureau of Economic Analysis will visit Puerto Rico later this month as part of ongoing efforts to steer the island toward improving methods of collecting and producing high-quality statistics about local economic activity.
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Fortuño announces 3rd round of homeowner’s assistance program
October 4, 2011
A week after accepting applications from 1,650 homeowners looking to save their dwellings from foreclosure, Gov. Luis Fortuño announced Tuesday there will be a third round of government assistance to benefit another 1,500 families.
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Pierluisi meets with private sector, labor leaders on incentives, jobs
September 30, 2011
Representatives from more than a dozen labor unions and the private sector met with Resident Commissioner Pedro Pierluisi Thursday to outline strategies to defend the Puerto Rico Investment Promotion Act and the American Jobs Act, both of which they claim could spur economic development for the island.
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Pérez-Riera: P.R. can regain manufacturing footing, reactivate economy
September 28, 2011
The global currents and economic challenges of the private sector, which have generated a sort of pessimism that focuses on only one part of the current reality, have significantly affected Puerto Rico’s manufacturing sector, Economic Development and Commerce Secretary José Pérez-Riera said.
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Government, private sector sign economic development MOU
September 27, 2011
In what may constitute as one of the most significant unions between the public and private sector in recent years, dozens of private sector and government officials gathered Tuesday to sign a memorandum of understanding to support the Luis Fortuño administration’s efforts to push the Puerto Rico Investment Promotion Act in Washington.
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Metropistas takes driver’s seat to manage PR-22, PR-5
September 22, 2011
Autopistas Metropolitanas de Puerto Rico, the consortium the government selected in June to assume the management, maintenance and operation of PR-22 and PR-5, will take the driver’s seat today, vowing to turn the heavily transited toll highways into world-class roads.
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HUD, local government rescue $42M to create long-term housing projects
September 9, 2011
Gov. Luis Fortuño signed Thursday an executive order creating a committee to implement public policy for housing that calls for working with federal housing officials to make better use of funds.
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Government plans trio of bond issues before end of fiscal ’12
September 9, 2011
The government plans to raise at least $785 million through three separate bond issues in coming months, high-ranking administration officials told the stateside investment community Thursday.
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Less than 1/3 of IVU Loto winners have claimed their prizes
August 29, 2011
In the first nine months since the government launched its IVU Loto system, only 20 sweepstakes winners have claimed their prizes, taking home about 3 percent of the $630,000 up for grabs, Treasury Department numbers show.
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NOAA assigns $585K to operate Jobos Bay reserve
August 17, 2011
The National Oceanic and Atmospheric Administration has awarded $585,000 in federal funding to recruit security and specialized staff to operate the Jobos Bay Estuarine Research Reserve, Puerto Rico’s Resident Commissioner in Washington, D.C, Pedro Pierluisi, said Wednesday.
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