All posts by José Alvarado Vega

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  Oversight Board Files 6th Amended Plan of Adjustment

  SAN JUAN – Puerto Rico’s Financial Oversight and Management Board (FOMB) announced Tuesday that it had filed a sixth amended commonwealth Plan of Adjustment (POA) that reflects new agreements with bond insurers Ambac Financial Group and Financial...

  • Posted July 27, 2021
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  FERC Upholds Permits Order for New Fortress Gas Terminal

  The Federal Energy Regulatory Commission upheld its ruling that requires New Fortress Energy Inc. to apply for a permit for its liquefied natural gas (LNG) terminal at the Port of San Juan, which was built and currently...

  • Posted July 22, 2021
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  Judge Swain Issues Preliminary Backing of POA Disclosure Statement

  FOMB Yet to Conclude Talks with Insurers Objecting Document

  • Posted July 14, 2021
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  Oversight Board Certifies First Compliant General Fund Budget

  Pierluisi Signs $10.1B Compromise Plan in ‘Spirit of Collaboration’  Five years after the creation of the Financial Oversight and Management Board for Puerto Rico (FOMB), the congressionally-mandated office that oversees the commonwealth’s finances approved the first compliant...

  • Posted July 1, 2021
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  Dividends Announced for X-Square Capital Funds

  Report Total Annual Returns Between 7% and 28% Hato Rey-based investment firm X-Square Capital (X2), with over $400 million in regulatory assets under management, announced Tuesday the payment of dividends for its two funds, the X-2 Alternative...

  • Posted June 29, 2021
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  LUMA Reaches Deal with Union to Complete Federally Funded Projects

  LUMA Energy LLC announced Tuesday it reached a project labor agreement (PLA) with Local No. 222 of the International Brotherhood of Electrical Workers (IBEW) for all contracts mainly involving federally funded major construction projects involving the transformation...

  • Posted June 23, 2021
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  Program Offers $50,000 to Businesses Struck by 2017 Hurricanes

  Workshops to be held on Friday SAN JUAN – The Puerto Rico Manufacturers Association (PRMA) will offer on Friday a workshop on a Puerto Rico Economic Development Bank (EDB) program that provides grants of up to $50,000...

  • Posted June 17, 2021
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  Popular Inc. Originates $2.1B in PPP Loans

  SAN JUAN – Popular Inc., the holding company for Banco Popular de Puerto Rico, announced Tuesday that upon completion of the second round of the Paycheck Protection Program (PPP) on May 31, the island’s largest bank had...

  • Posted June 16, 2021
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  Pension Battle Enters a New Phase

  The Gov. Pedro Pierluisi administration reiterated its opposition to cuts in government pension payments by submitting Tuesday before the U.S. District Court of Puerto Rico an objection to the disclosure statement of the commonwealth’s debt plan of...

  • Posted June 16, 2021
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  FOMB Says FY 2022 Budget Can Handle Debt Service

  Oversight Board Open to Amendments in Line with Proposed Reforms  Financial Oversight and Management Board Executive Director, Natalie Jaresko, said the general fund budget for the fiscal year 2022 would include a portion of the debt service...

  • Posted May 21, 2021