IVU collections reach $94.6M in April, maintain steady pace
May 23, 2011
Sales and use tax collections remain steady during the first 10 months of the current fiscal year, a pattern Treasury Department Secretary Jesús Méndez said is the result of several measures the administration has implemented to shore up much-needed cash for the government.
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Wall Street banks square off over $1B P.R. highway concession
May 22, 2011
New York-based investment banking firms Goldman Sachs and Morgan Stanley are apparently dueling over the $1 billion privatization project of PR-22, the 52-mile stretch of highway that runs from San Juan to Arecibo.
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Women’s Affairs Advocate, Best Buy team up to fight domestic violence
May 19, 2011
The Women’s Affairs Advocate and Best Buy have joined forces to combat the escalating problem of domestic violence against women, of which there were 16,000 reported cases on the island last year.
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CRIM extends property registration deadline to June 12
May 16, 2011
Puerto Rico residential property owners who have yet to register their units with the Municipal Revenues Collection Center, or CRIM, have until mid-June to do so to avoid being the target of potentially significant fines, government officials said Monday.
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Labor Dept. seeks $116.5M budget for fiscal ’12, launches online unemployment tool
May 7, 2011
Labor Secretary Miguel Romero submitted a $116.5 million budget for fiscal 2012 to the House Treasury Committee Friday, saying it will be enough for the agency to operate and run a number of programs that pursue job creation in a market where the workforce barely reaches 42 percent.
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Treasury: March revenue collections reach $746M
May 5, 2011
Government revenue collections totaled $746 million in March, a figure that is 10.1 percent, or $69 million over the same month the prior year, the Treasury Department said Thursday.
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Retirement System burgeoning deficit on Moody’s radar
May 4, 2011
Gov. Luis Fortuño’s administration has three months to show Moody’s Investors Service that it is taking enough — and correct — action to address the Commonwealth Retirement System’s $28 billion funding shortfall to avoid a possible downgrade of its current A3 rating.
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Planning Board chief: Land use plan will be ready in ’12
May 2, 2011
He is an urban planner who lives on a five-acre farm in rural Vega Baja with his wife and a bunch of animals. But make no mistake about it, Ruben Flores Marzán, who was named Puerto Rico Planning Board president less than a month ago, is not horsing around when it comes to development.
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HFA launches mortgage loan assistance program
April 29, 2011
Some 1,500 Puerto Rico homeowners facing the possibility of foreclosure may be able to qualify for a new $20 million emergency assistance program unveiled Friday by the Puerto Rico Housing Financing Authority, in agreement with local banks.
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Fortuño names new EDB chief
April 27, 2011
Gov. Luis Fortuño announced Wednesday the appointment of Ivonne Otero Guzmán as Economic Development Bank president, succeeding banker Lizzie Rosso who resigned to the post late last month to return to the private sector.
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Fortuño unveils $9.26B budget for fiscal ’12
April 13, 2011
Gov. Luis Fortuño announced Tuesday his administration’s proposed $9.26 billion budget for fiscal 2012, which is $110 million higher than the one currently being spent that expires June 30.
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Electronic corporate filings increase by 413%
April 12, 2011
Just four days before this year’s April 15th filing deadline, the number of corporate annual report filings at the State Department through Sunday had increased by 413 percent in comparison to the same date last year, which Secretary of State Kenneth McClintock attributed to the almost mandatory electronic filing requirement.
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SIF reports record number of insured employers
April 10, 2011
The State Insurance Fund closed 2010 with 116,380 insured Puerto Rico employers on record, the highest number reported in the agency’s 75-year history, Administrator Zoimé Álvarez said Saturday.
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McClintock: Public Utility Commission in the works for P.R.
April 6, 2011
The State Department is getting technical assistance from the U.S. Department of Energy to establish a Public Utility Commission in Puerto Rico that would merge the Public Service Commission and the Telecommunications Regulatory Board. The new entity would also regulate the Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority, Secretary of State Kenneth McClintock told News is my Business.
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Full text of the IRS resolution on 4% excise tax credit
March 31, 2011
On Thursday, News is my Business obtained a copy of the notice the Internal Revenue Service sent to the government of Puerto Rico with regards to the federal credit granted for the 4 percent excise tax that went into effect in January.
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