Thursday, December 2, 2021

Latest News

  • Congress Extends Federal Matching for Puerto Rico’s Medicaid Program

    Congress voted on a short-term continuing resolution (CR) that provides an extension of the Federal Matching Assistant Percentage (FMAP) of 76% for Puerto Rico’s Medicaid program.  This vote provides a short-term fix and prevents the FMAP to...

    • Posted September 30, 2021
  • Luma Says the Power Outages will Continue During the Following Days

    Luma Energy announced different sectors in the island could experience power outages during the following days due to customer’s power demand being higher than the available generation. In a press release, the company states that power relays...

    • Posted September 28, 2021
  • Power Crisis Leads to More Blackouts and Resignation

    Luma Energy reported that around 258,692 utility clients were without power by 5 p.m. today, Monday. The most affected municipality was Caguas, where blackouts interrupted the service of 64,511 customers. The major blackouts registered a day after...

    • Posted September 27, 2021
  • Oversight Board Willing to Shield More Retirees from Pension Cuts

    After Governor Pedro Pierluisi has repeatedly objected against pension cuts for government retirees, the Financial Oversight and Management Board for Puerto Rico (FOMB) issued a statement saying it “is willing to agree” to increase the threshold of...

    • Posted September 27, 2021
  • Bravo Family Foundation Announces Rising Entrepreneurs Program Winners

    The Bravo Family Foundation (BFF) announced the winners of the second edition of its Rising Entrepreneurs Program (REP), an entrepreneurship acceleration initiative aimed to scale local tech and innovation startups with capital, mentoring, and curricula.   Local startups...

    • Posted September 23, 2021
  • Microsoft to Close Operations in Humacao in 2024

    Microsoft’s offices in Humacao will close down in September of 2024 due to a corporate reorganization process. According to the Department of Economic Development and Commerce (DDEC), the commonwealth carried out different efforts to keep the company...

    • Posted September 23, 2021
  • Foundation for Puerto Rico CEO Launches Center for Strategic Innovation

    Coalition Looks to Provide Social, Economic Solutions; to Be Led by Alexandra Lúgaro

    • Posted September 22, 2021
  • Local Seasonings Brand Rapidly Increases Sales

    Puerto Rican cooking seasonings brand Cooking with my Doctor reached a 313 % growth in sales in 2020 compared to 2019, and a 90% market distribution rate.  During the first half of 2021, the brand grew 70%...

    • Posted September 22, 2021
  • A group of physicians in residency at the entrance of the Health Department. (Jaime Rivera/CB)
    Red Tape Ties Down Pay of Surgery Residents

    Health Department Failed to Request Hacienda Stipend for Puerto Rico Doctors in Residency; was Ten Weeks Late in Filing Request

    • Posted September 22, 2021
  • When the Sun Sets on Libor

    ‘Stream of Lawsuits’ Expected if Legal Framework for New Index Is Not Established

    • Posted September 21, 2021
  • Governor Pierluisi Approves Raise in Minimum Wage

    Gov. Pedro Pierluisi signed into law a House bill that will increase the minimum salary in Puerto Rico from $7.25 to $8.50 starting next January 1.  The signing of the increase, the first in 12 years in...

    • Posted September 21, 2021
  • Commonwealth Allocates $20 Million to Repair Homes

    Gov. Pedro Pierluisi announced the allocation of $20 million from the American Rescue Plan (ARPA) funds to restore the roofs of houses with blue tarps that were devastated by Hurricane María in September of 2017.   As part...

    • Posted September 20, 2021
  • Municipality of San Juan Spearheads Project to Improve Water Supply

    The municipal government of San Juan and the Aqueduct and Sewer Authority signed a collaborative agreement to install six electric generators in pump stations for communities that suffered interruptions in the utility due to power outages.  The...

    • Posted September 20, 2021
  • Labor Reform in Domino Game Lockdown

    Possibly the earliest defining moment to the global employment situation today, are the historic struggles for labor rights caused by the Industrial Revolution that began in Great Britain during the second half of the 18th century and...

    • Posted September 17, 2021