The Puerto Rico Bankers Association said Wednesday the government’s decision to include Puerto Rico Electric Power Authority in the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act could jeopardize the closing this year of the consensual restructuring support agreement.
The House Committee on Natural Resources released H.R. 4900, the “Puerto Rico Oversight, Management, and Economic Stability Act” (known as PROMESA), co-sponsored by Committee Chairman Rob Bishop (R-UT) and Rep. Sean Duffy (R-WI).
Puerto Rico has been included for the first time in the International Monetary Fund’s World Economic Outlook report released Tuesday, opening doors for future economic development, local executives in charge of representing the island before the entity said.
RocketFix Mobile, a Puerto Rican company that “seeks to become the mechanic for your cellphone” announced plans to have eight stores operating throughout the island next month, all inside Sears locations.
The U.S. Census Bureau announced Tuesday it plans to conduct a test census in selected areas within Puerto Rico beginning February 2017.
Baskin-Robbins announced Tuesday that Island Creamery Inc. has acquired more than 20 Baskin-Robbins shops in Puerto Rico, becoming the brand's new sole franchisee on the island.
A broad group of public and private-sector representatives from Puerto Rico are bearing down on Washington lawmakers this week, when a draft of the bill proposing an oversight board for the island is expected to be released and discussed during a hearing Wednesday.
The Puerto Rico government’s decision to enact a debt moratorium and declare a state of emergency at the Government Development Bank prompted ratings agency S&P to downgrade the agency and Moody’s to warn of looming creditor lawsuits.
Puerto Rico is an attractive academic destination for international students who confirmed in a recent survey commissioned by the Foundation for Puerto Rico that their expectations are met.
In the past 10 years, the size of the local economy has shrunk by 14 percent, total employment has dropped by 21 percent (more than 250,000 jobs) and the total population has decreased by 9 percent.
Debt insurer Assured Guaranty has aligned with the Ad Hoc Group of Puerto Rico's General Obligation Bondholders, agreeing to the deferral of principal repayment of Puerto Rico General Obligation Bonds on terms “economically consistent with the previously released term sheet,” the group said Monday.
The Coliseo de Puerto Rico has been ranked 15th in the list of Top 100 arenas worldwide in Pollstar Magazine's 2016 rankings, venue officials confirmed Monday.
Members of the government’s Working Group for the Fiscal and Economic Recovery of Puerto will release today details of a revised voluntary exchange proposal presented to advisors to the Commonwealth’s creditors in March.
The Rincón Beach Resort, Triple-S and MMM recently made some executive appointments in their operations, as the private sector does its part to move the economy.
The U.S. Department of Agriculture is making up to $44 million available to farmers, ranchers and businesses to develop new bio-based products and expand markets through the Value-Added Producer Grant program.
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