Puerto Rico trade groups ready to work with gov’t
July 15, 2015
Representatives from 20 Puerto Rican trade associations said Tuesday they are ready to work with the government to jump-start the island’s economic development, proposing specific strategies to move things along.
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Private sector to work with gov’t on fiscal solutions
July 13, 2015
Representatives from 20 of Puerto Rico’s largest private-sector organizations expressed their willingness to work with the government’s task force on proposals to restructure the island’s fiscal issues.
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Analyst: Minimum wage, Jones Act cripple P.R. economy
July 10, 2015
WASHINGTON — When it comes to Puerto Rico’s fiscal crisis, Washington is just as much to blame as San Juan.
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Leading economist: Growth essential to P.R.’s recovery
July 10, 2015
The loss of Section 936 tax breaks, combined with overly indulgent local labor laws and a federal policy that encourages people to stay on the dole rather than work, have all contributed to Puerto Rico’s current fiscal nightmare.
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Puerto Rico youth pursuing better salaries, promotions
July 9, 2015
A recent study by Universia shows that 39 percent of Puerto Rico’s youth and student population is looking to improve their salaries, while 23 percent are looking to get promoted.
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H. Calero: Migration, cash crunch to limit econ. growth
July 6, 2015
Two significant problems Puerto Rico is currently dealing with — a significant migration and a government cash crunch — will limit economic growth for at least five years, local economist firm H. Calero Consulting concluded in the most recent edition of its “Pulse” publication.
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P.R. governor creates work group to restructure debt
June 30, 2015
Puerto Rico Gov. Alejandro García-Padilla announced Monday a multi-pronged plan to address the island’s fiscal crisis to work with creditors on restructuring what he described as the “unpayable” $73 billion debt.
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Op-Ed: What is Puerto Rico selling?
June 9, 2015
Is our current political status limiting our economic potential? That was the controversial question that was asked during last year’s ALPFA Puerto Rico’s marquee event, when a panel of five senior executives from the corporate, nonprofit and entrepreneurial sectors answered questions about our island’s most pressing problem: How to stop the infamous “brain drain.” It […]
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Planning Board: P.R. economic growth at -1.3% in FY ’15
June 1, 2015
Puerto Rico Planning Board President Luis García-Pelatti told lawmakers over the weekend that the island will experience negative economic growth of 1.3 percent and 4.2 percent, respectively in Fiscal 2015 and 2016, when the scenario is looked at from a pessimistic point of view.
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PRMA suggests remedial steps for gov’t fiscal problems
May 29, 2015
During the opening day of its annual convention Thursday, the Puerto Rico Manufacturers Association delivered a list of recommendations — including cutbacks, government restructuring and fiscal measures — to administration officials, in hopes of doing its part to help the island pull out of its economic crisis.
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Puerto Rico nonprofits create 16% of jobs, $2.2B wages
May 21, 2015
Puerto Rico’s nonprofit organizations have a positive economic impact on the island, producing 150,410 jobs — or 16 percent of all local employment — and some $2.2 billion in wages, according to a study presented Wednesday by the Foundations Network.
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A.M. Best: P.R.’s economic woes challenge for insurers
May 15, 2015
Despite the current economic challenges facing Puerto Rico, the financial strength of the Commonwealth’s insurance carriers remains generally solid, according to a new A.M. Best briefing.
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TRB, telecom providers collaborating on sector metrics
May 14, 2015
The Puerto Rico Telecommunications Regulatory Board has set the ball rolling on an initiative to gather data from the island’s broadband providers to define the sector’s contributions to the economy, with results expected to be ready in a year, agency President Javier Rúa-Jovet said Wednesday.
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Op-Ed: Puerto Rico’s reality distortion field
May 11, 2015
As aptly described in Walter Isaacson’s biography of Steve Jobs, this late genius of technological innovation was prone to deploying a “reality distortion field” to bend friends, foes and facts alike to his will.
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Bankers ‘frustrated,’ monitoring gov’t solutions to crisis
April 28, 2015
The heads of the island’s two largest banks took turns in recent days expressing their concerns about the current fiscal scenario and whether political leaders are willing to make the right decisions to put Puerto Rico’s economy back on track.
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