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Governor signs $9.56B FY15 budget; calls it first balanced plan in 22 years
Issued: July 1, 2014
Gov. Alejandro García Padilla signed a $9.565 billion general fund budget for fiscal 2015 on Tuesday, touring it as Puerto Rico’s first balanced...
Investors on edge over possible Prepa default
Issued: July 1, 2014
Fears of an imminent default by the Puerto Rico Electric Power Authority (Prepa) continued Tuesday as investors and analysts expressed doubt that the...
Hérnandez Vivoni sets sights on Congress
Issued: July 1, 2014
Former Housing Secretary Miguel Hernández Vivoni has announced his intention to run for resident commissioner in 2016 on the New Progressive Party...
PR starts search for Roosevelt Roads developer
Issued: July 1, 2014
The Roosevelt Roads Local Redevelopment Authority (RRLRA) published Monday a request for qualifications (RFQ) for master developers to oversee the...
Job drop drags on manufacturing index
Issued: July 1, 2014
Rico’s vital manufacturing industry contracted in May, posting a second straight month of declines after two months of expansion, according to the...
Meet Puerto Rico cuts staff on budget crunch
Issued: July 1, 2014
Meet Puerto Rico, formerly known as the Puerto Rico Convention Bureau, has laid off six employees due to a drop in revenue. ...
Matos named Queens College president
Issued: July 1, 2014
After a national search, the Board of Trustees of The City University of New York (CUNY) has appointed Félix Matos Rodriguez, who served as the Puerto...
Moody’s: Law a ‘clear path’ to default
Issued: July 1, 2014
Puerto Rico’s new debt relief law provides a “clear path” to default for public corporations and signals the government’s “diminished willingness” to...
PR posts fiscal 2013 financial statements
Issued: July 1, 2014
The Puerto Rico Treasury Department has submitted the commonwealth government’s audited financial statements for fiscal 2013. ...
PR adding tax on remittances
Issued: July 1, 2014
A news tax on cash remittances is expected to generate $15 million in revenues for Puerto Rico’s $9.56 billion general fund budget for fiscal 2015. ...
DHL Thermonet network reaches in PR
Issued: July 1, 2014
DHL Global Forwarding has expanded its service portfolio for the life sciences and healthcare industry in Puerto Rico and 12 other locations in the...
Moody’s Analytics: PR’s risk is highest of all 84 sovereign entities we track
Issued: July 1, 2014
Moody’s Analytics said Monday that Puerto Rico’s market-based measures of credit risk are higher than any other country its tracks. ...
Progreso Económico: Time for a deep look at government salary scales
Issued: July 1, 2014
An evaluation of Puerto Rico’s finances that brings employee salaries in line with their level of productivity and the earnings that these agencies...
Justice secretary expects Recovery Act to survive legal challenges
Issued: June 30, 2014
Puerto Rico Justice Secretary César Miranda said Monday that legal challenges of a new law to allow debt restructuring were anticipated, signaling...
PR lawmakers pass fiscal 2015 budget
Issued: June 30, 2014
The Puerto Rico Legislature finally approved a fiscal 2015 budget on Monday, just one day before the start of the new fiscal year. ...
Fortaleza: We’ve created 50,000 new jobs
Issued: June 30, 2014
Gov. Alejandro García Padilla will state his case this week that his administration has created 50,000 new jobs since taking office in January 2013. ...
S&P puts Prasa on downgrade review
Issued: June 30, 2014
Standard & Poor’s Ratings Services has placed the Puerto Rico Aqueduct & Sewer Authority’s revenue bonds (BB+) on CreditWatch with negative...
Firms sue PR govt over Recovery Act
Issued: June 30, 2014
A pair of investment funds have filed suit in federal court against a new Puerto Rico law that allows public corporations to restructure their debt...
Veteran analyst: ‘Real damage’ from Recovery Act will trail PR for years
Issued: June 30, 2014
Puerto Rico’s move to allow its public corporations to undertake a bankruptcy-like process to restructure its debt is a “major departure” from past...
Index: PR economy still shrinking
Issued: June 30, 2014
Puerto Rico’s economy is still shrinking amid an ongoing recession dating back to 2006, according to the Government Development Bank’s latest Economic...
Governor signs debt restructuring law; S&P puts PR on downgrade watch
Issued: June 30, 2014
Gov. Alejandro García Padilla signed legislation Saturday that will let ailing public corporations restructure their debt in a bankruptcy-like process...
National patente changes alarm businesses
Issued: June 30, 2014
Puerto Rico lawmakers are signing off on a plan to amend the so-called national patente tax to apply only to businesses posting more than $3 million...
PR farms grow in size, shrink in number
Issued: June 30, 2014
Farms in Puerto Rico grew fewer and farther between but their size and the amount of acreage in production have increased in recent years, according...
Moody’s downgrades Prasa, Highways because of debt restructuring measure
Issued: June 29, 2014
Moody’s Investors Service has downgraded two of Puerto Rico’s largest public corporations deeper into junk range because of new legislation that would...
Governor: Up to 6,000 jobs lost since 2013
Issued: June 28, 2014
Gov. Alejandro García Padilla is estimating Puerto Rico job losses at between 5,000 and 6,000 since December 2012. ...


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