Tuesday, January 18, 2022

Latest News

  • Global Market Square

    The U.S. and European stock markets closed with significant gains, with both the Dow Jones and S&P 500 reaching new records following a weaker than expected GDP report. The U.S. Gross Domestic Product grew at a rate...

    • Posted July 29, 2021
  • Puerto Rico Treasury: General Fund Revenue Exceeds Projections

    SAN JUAN – Puerto Rico Treasury Secretary Francisco Parés Alicea announced Thursday that net income to the island’s General Fund totaled nearly $1.42 billion in May. “Last May, revenues amounted to and when compared with...

    • Posted July 29, 2021
  • Oversight Board Supports Extension of Disclosure Requirements

    SAN JUAN — The Financial Oversight and Management Board (FOMB) for Puerto Rico said it supports the legislative proposal in the U.S. Congress to extend the disclosure requirements of the Federal Rules of Bankruptcy Procedure to professionals...

    • Posted July 29, 2021
  • Puerto Rico Gov’t and Carnival Establish Health-Safety Protocol

    SAN JUAN — The government of Puerto Rico established a passenger arrival protocol with Carnival Cruise Line to address the implementation of health-safety measures needed to curb the spread of the coronavirus. According to the government, the...

    • Posted July 29, 2021
  • PenFed Looks to Expand in Puerto Rico

    PenFed Credit Union, the second largest federal credit union in the United States, is investing nearly $3 million to expand its San Patricio branch in Guaynabo and establish an adjacent call center to provide service to its...

    • Posted July 28, 2021
  • Lobbying Continues to Further Raise Medicaid Funding

    The U.S. House Energy and Commerce Committee is chaired by Rep. Frank Pallone (D-NJ)

    • Posted July 28, 2021
  • 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
  • Gov. Pierluisi Strays Away from Sol y Playa

    Gov. Pedro Pierluisi on Tuesday said he would by no means intervene in the permit process of a pool that was being built in a project in Rincón that has been at the center of protests by...

    • Posted July 27, 2021
  • Resident Commissioner and Health Secretary Discuss Medicaid Negotiations

    Resident Commissioner Jenniffer González and Health Secretary Carlos Mellado participated Friday at the Health Services Administrators College (CASS by its Spanish acronym) annual convention to speak about the most recent developments in U.S. Congress concerning the island’s...

    • Posted July 23, 2021
  • Strike Ends with Agreement to Increase Haulage Rates

    Puerto Rico acting Gov. Omar Marrero signed an agreement last night (Thursday night) that ended the trucker strike that lasted two days, disrupting the supply chain at gas stations and other businesses, and in which the commonwealth...

    • Posted July 23, 2021
  • Strike Leaves More Than 150 Stations Without Gasoline

    The truckers’ strike that started last Wednesday to support a haulage rate increase approved last December by a commonwealth agency has already left around 150 to 200 gas stations without gasoline, and it is threatening to cut...

    • Posted July 22, 2021
  • Local Creatives to Judge at FIAP Advertising Festival

    Puerto Rico’s advertising talent will have its say in Festival Iberoamericano de la Publicidad (FIAP) 2021, with a select group of creatives and producers in the local advertising industry serving as jurors in the evaluation of the...

    • Posted July 22, 2021
  • Pandemic Hindered Investment in Women- Owned Businesses

     The fight for women’s empowerment and equal rights has undoubtedly advanced monumentally in the past two decades; however, there are still major obstacles to overcome, especially with regard to capital investment in companies created and led by...

    • Posted July 22, 2021
  • Won’t You Take Me to… ‘Tatito Town’

     Although the Puerto Rico Oversight, Management and Economic Stability Act (Promesa) is often criticized as the “Lawyer Relief Act”—for instance, Proskauer Rose partner Martin Bienenstock was forced to reduce his billable hours from $1,499 to $1,000—pobrecito; the...

    • Posted July 22, 2021