U.S. Dept. of Commerce invests $4.9M to support projects in P.R.
August 16, 2018
U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration is awarding $4.9 million in grants to companies throughout Puerto Rico, to support technology startups and manufacturing,
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OBoard, P.R. gov’t reach deal with COFINA creditors; to save $17B+ in debt service
August 9, 2018
The Financial Oversight and Management Board for Puerto Rico and the government of Puerto Rico announced they have reached a deal with Senior and Junior bondholders of Sales Tax Financing Corp. credit, as well as monoline insurers.
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OBoard adopts new policies to handle certain gov’t transactions
August 8, 2018
The Financial Oversight and Management Board for Puerto Rico announced the adoption of two new policies to “foster accountability, transparency and efficient dealing” in certain government transactions and public projects.
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Gov’t announces 2nd phase of ‘Abriendo Caminos’; $100M to repave PR-52
August 6, 2018
Puerto Rico Gov. Ricardo Rosselló announced the second phase of “Abriendo Caminos,” a program to repair and maintain island roads, with an investment of more than $100 million in state and federal funds.
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P.R’s Fiscal Control Board: Parallel government full of lawyers, consultants
August 2, 2018
Martin Bienenstock sits in the audience, looking at his tablet. As the twelfth public meeting of Puerto Rico’s Fiscal Control Board takes place, he raises his eyes, adjusts his glasses, frowns and pays attention to the discussion.
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Rosselló shuffles around cabinet members, names new Treasury chief
August 1, 2018
Puerto Rico Gov. Ricardo Rosselló announced several changes in his cabinet, including the appointment of Raúl Maldonado as chief of staff and Ricardo Llerandi as deputy chief of staff.
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P.R. gov’t reaches preliminary restructuring support agreement with PREPA bondholders
July 31, 2018
The Financial Oversight and Management Board for Puerto Rico, the Puerto Rico Electric Power Authority, and the Fiscal Agency and Financial Advisory Authority have reached an agreement with the Ad Hoc Group of PREPA bondholders.
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EDB offers loans of up to $50K to ensure business continuity
July 30, 2018
The Economic Development Bank for Puerto Rico announced that effective immediately, it will begin offering new loans capped at $50,000 aimed exclusively at helping small and medium businesses effectively prepare for emergencies such as hurricanes and avoid subsequent interruption in business operations.
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Gov’t unveils new website that eases doing business in P.R.
July 25, 2018
Gov. Ricardo Rosselló and Economic Development and Commerce Secretary Manuel Laboy confirmed the launch of the Single Business Portal, a new tool that facilitates the process to carry out business in Puerto Rico.
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NY Gov. Cuomo: ‘Trump should apologize to people of P.R. for lack of FEMA response’
July 24, 2018
Gov. Andrew Cuomo headed a delegation of New York government representatives, students and other volunteers to Puerto Rico, where the ‘NY Stands with Puerto Rico Recovery and Rebuilding’ initiative has cleaned, restored, and rebuilt 90 homes across the island.
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Federal gov’t extends credit line to P.R. gov’t for disaster loans
July 20, 2018
Puerto Rico Gov. Ricardo Rosselló confirmed that the federal government, through the Federal Emergency Management Agency (FEMA), signed the agreement to have access to Community Disaster Loans.
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IEEFA: Effects of oil-purchase scandal undermine PREPA privatization, contract-reform initiatives
July 19, 2018
A long-running practice in which Puerto Rico’s public utility bought low-quality oil at high-quality prices has been mostly ignored in Gov. Ricardo Rosselló’s privatization of the Puerto Rico Electric Power Authority (PREPA), the Institute for Energy Economics and Financial Analysis claimed.
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Rosselló taps former PRASA chief Ortiz to head Puerto Rico Electric Power Authority
July 19, 2018
Puerto Rico Gov. Ricardo Rosselló announced the appointment of José Ortiz as the new executive director of the Puerto Rico Electric Power Authority.
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P.R.’s Dept. of Transportation to offer driver services via new app
June 26, 2018
The Puerto Rico Department of Transportation has launched the CESCO Digital Mobile application to enable users to conduct transactions that until Monday could only be done in person.
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Gov’t announces $1.5B in P3 projects to rebuild P.R.’s infrastructure, economy
June 22, 2018
This week, government officials confirmed six public-private partnership projects in the pipeline representing a combined $1.5 billion in investments in Puerto Rico’s infrastructure.
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