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Fitch: Tax, utility hikes could prolong PR recession, challenge local banks
Issued: December 9, 2014
Fitch Ratings is reiterating its position that tax and utility hikes could prolong an economic downturn in Puerto Rico dating back nearly a decade. ...
PR identity theft kingpin sentenced
Issued: December 9, 2014
The leader of a Puerto Rican identity trafficking organization has been sentenced to serve more than six years behind bars as part of an ongoing...
Oil tax surge squeaks through Capitol; sets up $2.9B bond issue, HTA bailout
Issued: December 8, 2014
Legislation to surge Puerto Rico’s petroleum tax to bailout the Highways & Transportation Authority and boost the Government Development Bank’s...
Oil tax bill heads to conference committee
Issued: December 8, 2014
Legislation to surge Puerto Rico’s petroleum tax to bailout the Highways & Transportation Authority and boost the Government Development Bank’s...
Romark Laboratories to open PR unit
Issued: December 8, 2014
Florida-based pharmaceutical company Romark Laboratories L.C. is building a $110 million installation in Puerto Rico’s north coast biotech hub. ...
Legislative changes still needed to pull off $2.95 billion bond deal
Issued: December 7, 2014
Despite approval of the petroleum excise tax bill last week by single-vote majorities in the House and Senate, more changes are needed in the...
Toll hikes on track for new year
Issued: December 7, 2014
Toll hikes are on track to take effect with the new year on two privately managed highways in Puerto Rico. ...
Sanofi unit buying Merck plant in PR
Issued: December 5, 2014
France-based pharmaceutical Sanofi said Thursday that Merial, its animal health company, is acquiring the Merck manufacturing facility in the Puerto...
Hundreds of illegal slot machines seized
Issued: December 5, 2014
Hundreds of illegal gaming machines were seized in Puerto Rico on Thursday as the island government works to stem losses at sanctioned hotel casinos. ...
PR lands mega-cruise after pier revamp
Issued: December 5, 2014
Puerto Rico on Thursday welcomed one of the world’s largest cruise ships, a vessel that can carry more than 6,000 people. ...
Suits seek access to PR govt reports
Issued: December 4, 2014
A journalist group and a Spanish-language independent media outlet are going to court to try to compel the Puerto Rico government to release reports...
USDA funds PR veteran farmers project
Issued: December 4, 2014
The U.S. Department of Agriculture has awarded nearly $180,000 to compile data on veteran farmers and ranchers (VFR) in Puerto Rico. ...
A&M report recommended alternatives to crude-oil tax hike
Issued: December 4, 2014
A 2012 report on the Puerto Rico Highways & Transportation Authority (HTA) ruled out a crude-oil tax hike in favor of a gas-tax boost and other...
PR gains on global corruption index
Issued: December 4, 2014
Puerto Rico climbed slightly in an annual corruption index released by Transparency International on Tuesday, ranking 31 out of 175 countries and...
SJ listed among world’s ‘most resilient’ cities
Issued: December 4, 2014
Puerto Rico’s capital San Juan is among 35 cities around the world that are being recognized by the New York-based Rockefeller Foundation for their...
Oil tax hike squeaks through Senate; HTA bailout bill goes to conference
Issued: December 4, 2014
Puerto Rico’s Senate narrowly passed a steep hike in the petroleum tax to bail to back a bond sale of up to $2.9 billion early in 2015 and bail out...
OFG to be added to S&P 600 Index
Issued: December 3, 2014
OFG Bancorp (NYSE: OFG), the San Juan-based holding company of Puerto Rico’s Oriental Bank, will be added to the Standard & Poor’s SmallCap 600...
Badillo, first PR-born congressman, dies
Issued: December 3, 2014
NEW YORK — Herman Badillo, a Bronx politician who became the first Puerto Rico-born U.S. congressman, died Wednesday morning. He was 85. ...
US cleanup of Culebra set to become law
Issued: December 3, 2014
Resident Commissioner Pedro Pierluisi’s bill to require the Department of Defense to remove dangerous military munitions from the northwest peninsula...
Pharma-Bio Serv taps new president, CEO
Issued: December 3, 2014
Puerto Rico-based Pharma-Bio Serv, Inc. has tapped Víctor Sánchez as president and chief executive officer. The appointment is effective January 1,...
Feds bust HTA treasurer in kickback scheme
Issued: December 3, 2014
Federal agents arrested a high-level career Highways & Transportation Administration employee on corruption charges during a raid at the public...
US House moves to extend tax breaks; rum funds, Section 199 in mix
Issued: December 3, 2014
The U.S. House of Representatives is moving to extend a $45 billion package of expired tax breaks through the end of the year, including boosted rum...
Banco Popular gets ‘Bank of Year’ nod
Issued: December 3, 2014
Banco Popular de Puerto Rico has received the prestigious “Bank of the Year Puerto Rico for 2014” award from The Banker, an international banking...
Aerostar taps Puma for jet fuel services
Issued: December 3, 2014
Aerostar Airport Holdings has tapped Puma Energy to supply jet fuel to airlines that operate at Luis Muñoz Marín International Airport. ...
House passes HTA bailout, pegs oil tax surge to broader tax reform
Issued: December 2, 2014
Puerto Rico’s House of Representatives has approved a steep hike in the petroleum tax to bail out the Highways & Transportation Authority, pegging...


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