OBoard, gov’t face-off in court over employee furloughs
August 29, 2017
The Financial Oversight and Management Board for Puerto Rico filed in the U.S. District Court for the District of Puerto Rico an “Adversary Complaint for Declaratory and Injunctive Relief” seeking to enforce the certified Commonwealth’s Fiscal Plan.
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P3 Authority re-opens RFQ process through Sept. 6
August 29, 2017
Puerto Rico Public-Private Partnership Authority Executive Director Omar Marrero announced that due to “high interest” from consulting firms, the agency has re-opened the Request For Qualifications (RFQ) process through Sept. 6.
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Rosselló creates last subgroup in ‘Front for Puerto Rico’
August 28, 2017
Gov. Ricardo Rosselló announced the creation of the third and final sub-working group as part of the Front for Puerto Rico to address the federal tax reform and how these changes may affect the Island, La Fortaleza announced.
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U.S. lawmakers ask OBoard for transparency in spending
August 23, 2017
Troubled by reports of more than $30 million in expenses after one year of operations, U.S. Reps. José Serrano and Nydia Velázquez sent a letter to the Financial Oversight and Management Board for Puerto Rico expressing concerns over the lack of transparency and independent supervision related to its spending decisions.
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Local businesses generate $3.4M in Peru trade mission
August 23, 2017
A delegation of four Puerto Rican businesses achieved sales of $5.4 million during the most recent trade mission to Peru that took place Aug. 7-11 coordinated by Puerto Rico Trade and Export Company, agency Executive Director Ricardo J. Llerandi confirmed.
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Gov’t reports $649.4M in July revenue collections
August 21, 2017
Treasury Secretary Raúl Maldonado-Gautier announced that net revenues recorded to the General Fund in July, when Fiscal Year 2017-18 began, totaled $649.4 million.
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Blown-up statistics to market COFINA bonds eliminated
August 18, 2017
The Puerto Rico Institute of Statistics offered details of the new methodology used by the Puerto Rico Trade & Export Company to estimate the value of the island's retail sales starting in October 2016.
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U.S. gov’t to decide by Oct. 6 if it will defend PROMESA
August 17, 2017
The United States government will notify the Financial Oversight and Management Board by Oct. 6 if it will defend the constitutionality of PROMESA.
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PREPA head airs laundry list of operational problems
August 15, 2017
The Executive Director of the Puerto Rico Electric Power Authority, Ricardo Ramos-Rodríguez, aired a laundry list of structural and operational problems plaguing the island’s main energy provider, while outlining plans to face the peak of this year’s hurricane season.
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Gov. signs law to transform Public Service Commission
August 10, 2017
Puerto Rico Gov. Ricardo Rosselló signed Senate Bill 525 that creates the “Administrative Transformation of the Public Service Commission Law,” a statute that simplifies and standardizes requirements that any operator of passenger ground transportation must meet.
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Rosselló names Commissioner of Financial Institutions
July 28, 2017
Gov. Ricardo Rosselló announced Thursday the appointment of George R. Joyner as head of the Office of the Financial Institutions Commissioner, known as OCIF in Spanish.
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Marazzi to stay at Statistics Institute; La Fortaleza balks
July 25, 2017
The Board of Directors of the Puerto Rico Institute of Statistics announced Monday the appointment of Mario Marazzi-Santiago as executive director for a second 10-year term.
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Treasury: FY ’17 collections exceed $9.3B, up 1.7% YOY
July 21, 2017
Puerto Rico’s net revenue recorded to the General Fund for Fiscal 2017 (July-June) exceeded $9.3 billion, representing a $159.6 million, or 1.7 percent, increase when compared to Fiscal Year 2015-16, Treasury Secretary Raúl Maldonado-Gautier said Thursday.
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Senate mulls amending SMEs Incentives Law
July 17, 2017
The Senate’s Social and Economic Revitalization Committee recently held public hearings on Bill 374 that seeks to amend the Incentives law for the generation and retention of small and medium sized enterprise jobs.
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U.S. Democrats seek to spur PR small business growth
July 14, 2017
Washington, DC – A hearing before the House Small Business Committee Thursday probed how to reignite small business growth on the economically troubled island of Puerto Rico.
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