GDB President Carlos García (Photo credit: ©Mauricio Pascual) Government Development Bank President Carlos García will be stepping down from his post effective March 1, the official confirmed Wednesday. He will be succeeded by Juan Carlos Batlle, another banker.García’s resignation comes two years after he accepted the job, leaving his position as COO of Santander BanCorp […]

Joaquín Bacardi and José Pérez-Riera In an effort to convey the message to the rum industry that PR is a viable place to do business, the Economic Development and Commerce Department announced the signing of a 20-year agreement with Bacardí Corp., ensuring its permanence on the island. As part of the agreement, the goverment will […]

The Treasury Department is responsible for implementing the new tax code. (Credit: Mauricio Pascual©) Following two days of marathon House and Senate sessions, both chambers approved the overhaul of the Puerto Rico Internal Revenue Code, through which the Fortuño administration has promised tax benefits to individuals and businesses to be funded mostly by a new […]