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Moody's downgrades GDB notes, GOs; $54.8B of debt affected
Issued: May 22, 2015
Moody's Investors Service has downgraded the Government Development Bank for Puerto Rico's notes to Ca from Caa1, Puerto Rico's general...
USDA seeks applications to expand economic development in rural communities
Issued: May 22, 2015
The under secretary for Rural Development of the U.S. Department of Agriculture (USDA), Lisa Mensah, announced Friday that the agency is...
House applies sales tax to all food items
Issued: May 22, 2015
The economic impact for the food industry of the tax bill approved Thursday by the House could be larger than expected. CARIBBEAN BUSINESS has learned...
San Sebastián mayor flies flag outside Capitol to protest higher IVU
Issued: May 22, 2015
Following a municipal resolution, the mayor of San Sebastán, Javier Jiménez Pérez, raised a giant flag of his municipality in front of the San Juan...
UBS found liable for Puerto Rico branch practices
Issued: May 21, 2015
On May 14, a Financial Industry Regulatory Authority (Finra) arbitration panel in San Juan ordered UBS to pay an investor $200,000 for losses suffered...
The latest things to know about the Takata air bag recall
Issued: May 21, 2015
Out of concern for the safety of drivers, the U.S. government may step in to manage a giant recall of air bags made by Takata Corp. ...
5 indicted for bid-rigging, fraud conspiracies at school bus auction
Issued: May 21, 2015
WASHINGTON—A federal grand jury in San Juan returned an indictment against five individuals for participating in bid rigging and fraud conspiracies at...
STR: 374 hotel rooms in pipeline for Puerto Rico
Issued: May 21, 2015
Puerto Rico currently accounts for 374 out of 29,846 rooms in the Caribbean/Mexico hotel development pipeline, according to the April 2015 STR...
GDB’s Acosta: Puerto Rico isn’t looking for an escape hatch
Issued: May 21, 2015
In a letter published Tuesday by the Wall Street Journal, Government Development Bank (GDB) President Melba Acosta argued that Puerto Rico’s push for...
More than 1,500 financial exploitation claims reported during fiscal 2014
Issued: May 21, 2015
The Protection and Defense division of the Elderly Advocate's Office (OPPEA by its Spanish acronym) announced Thursday that 1,536 financial...
Madonna reschedules Puerto Rico concert dates
Issued: May 21, 2015
The list of Madonna concert dates for her 35-city 'Rebel Heart' Tour has changed. ...
US, Cuba push to finalize talks on re-establishing embassies
Issued: May 21, 2015
American and Cuban officials are trying to complete talks to re-establish embassies in each other's capitals after a half-century interruption. ...
Popular to buy Doral Insurance for $17.3 million
Issued: May 21, 2015
Doral Insurance Agency, a wholly owned subsidiary of Doral Financial Corp., sold its insurance policy portfolio to Anglo-Puerto Rican Insurance a day...
Microsoft celebrates 25 years in Puerto Rico
Issued: May 21, 2015
Developments such as bridging the digital divide, the development of laptops, the adoption of the Internet and using productivity services like email...
Study finds 11,500 nonprofits in Puerto Rico
Issued: May 21, 2015
A study of nonprofit organizations by Red de Fundaciones identified 11,570 entities that provide services annually to more than 700,000 people in...
Island seals its pitch at Puerto Rico Investment Summit
Issued: May 20, 2015
The latest edition of the Puerto Rico Investment Summit, which ended Tuesday at the Condado Vanderbilt Hotel in San Juan, focused on attracting...
ITC rejects Commerce Department recommendation to impose duties on imports
Issued: May 20, 2015
Last month, after an investigation, the U.S. Department of Commerce recommended to the International Trade Commission (ITC) that it impose certain...
Planning Board publishes special supplement on VAT
Issued: May 20, 2015
The Puerto Rico Planning Board has made available a special supplement that analyzes the value-added tax (VAT, or IVA by its Spanish acronym) in...
Cuban wrestlers prepare to face US in Times Square
Issued: May 20, 2015
NEW YORK — Invited to take part in an exhibition against the U.S. in Times Square, top Cuban wrestlers quickly received approval from their government...
Secretary Bernier, Speaker Perelló to attend Puerto Rico Manufacturers convention
Issued: May 20, 2015
The president of the Puerto Rico Manufacturers Association, Carlos Rivera Vélez, announced that the group's annual convention will be held May...
García Padilla submits bill that paves way for 11.5% tax
Issued: May 20, 2015
On Monday, Gov. Alejandro García Padilla presented a bill to the Legislature that calls for the implementation of an 11.5% sales tax at cash...
AIAC to lease Merck’s former Arecibo plant to pharmaceuticals
Issued: May 20, 2015
Top executives, management and spokespeople of American Industrial Acquisition Corp. (AIAC) arrived this week to Puerto Rico to announce the...
Study on impact of business incubators presented
Issued: May 20, 2015
The chief executive of the Estudios Técnicos firm, José J. Villamil, on Tuesday presented an investigation, "The impact of incubators on the...
Dominican-Puerto Rican business forum held to forge bilateral agreements
Issued: May 20, 2015
Santo Domingo — The government of the Dominican Republic is holding a two-day business forum in Santo Domingo with Puerto Rico representatives. ...
Pierluisi, NPP legislators against 11.5% tax proposal
Issued: May 20, 2015
After meeting Monday, New Progressive Party (NPP) legislators and Resident Commissioner Pedro Pierluisi said they were against new taxes, including...


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