Backyard Bondholders Inc., an organization representing about 20 percent of the government's outstanding public debt, met a briefing Wednesday with several members of the Financial Oversight and Management Board for Puerto Rico to establish the position of local bondholders.
The Ad Hoc Group of Puerto Rico General Obligation bondholders addressed a memo Tuesday to island policymakers claiming the unconstitutionality of the Sales Tax Financing Corp., known as COFINA, and asking for its invalidation.
The Puerto Rico Energy Commission on Tuesday issued an order establishing a reduction of 21 percent on the provisional rate that the Puerto Rico Electric Power Authority effected in August 2016.
U.S. Customs and Border Protection announced that Tuesday that PAZOS Fixed Base Operator Service opened a new general aviation processing facility at the Luis Munoz Marin International Airport in Carolina.
PharmPix, a local full-service Pharmacy Benefits Management (PBM) company, has again earned URAC accreditation in its field, the company announced Tuesday.
The United Nations Independent Expert on foreign debt and human rights has called for fair solutions to the huge debt crisis in Puerto Rico, warning that ratcheting up austerity measures will threaten residents’ human rights and worsen the U.S. territory’s “intolerable” poverty levels.
The Puerto Rico Investment Summit, the Caribbean’s foremost investor’s conference, will celebrate its 5th edition March 2-3, at the Puerto Rico Convention Center, organizers announced.
The Puerto Rico Bankers Association is asking the general public to cast their vote for the “People's Choice Award” as part of its Puerto Rico Financial Awareness Video Contest 2016, its annual video competition on financial education, aimed at college students.
Two bond insurance subsidiaries of Assured Guaranty Ltd., together with its subsidiaries, Assured Guaranty, have made interest payments to holders of insured General Obligation and other bonds after Puerto Rico and certain of its agencies failed to pay on Jan. 3.
The Puerto Rico Private Sector Coalition on Wednesday revisited its quest for labor reform, asking Gov. Ricardo Rosselló to present necessary legislation to promote a new environment for employers.
On a non-seasonally adjusted basis (NSA), the Purchasing Managers Index for Puerto Rico’s manufacturing sector edged down to 49.1 in November, suggesting a contraction in the sector with respect to the previous month.
The new administration under Puerto Rico Gov. Ricardo Rosselló on Wednesday released a Request for Qualifications (RFQ), seeking a new strategic advisor and legal counsel to move ahead with restructuring the Commonwealth’s $68 billion debt.
Puerto Rico Economic Development and Commerce Department Secretary-designate Manuel Laboy-Rivera said Tuesday given the island’s fiscal crisis, he has already begun implementing the economic measures set forth by Gov. Ricardo Rosselló this week.
The U.S. Small Business Administration announced Tuesday the launching of two programs — the 2017 InnovateHER: Innovating for Women Business Challenge and the Aspire Challenge.
Gov. Ricardo Rosselló hit the ground running Monday, effecting six executive orders the same day he was sworn into his post as Puerto Rico’s 12th elected governor.
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