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Friday, July 2, 2010

SAN JUAN, Puerto Rico (Reuters) -- Puerto Rico's governor was expected to sign a $9.133 billion fiscal 2011 budget that the US commonwealth's legislators approved as protesters and police clashed. The general fund budget for the fiscal 12 months beginning Thursday is $61 million less than... read more...



Thursday, July 1, 2010

MIAMI, USA (IAPA/IFEX) -- The Inter American Press Association (IAPA) has condemned the Puerto Rican Senate's censorship of the work of reporters and news photographers which limits access and the people's right to state information. On June 23, Puerto Rico Senate President Thomas Rivera Schatz... read more...



Thursday, June 17, 2010

The Spanish American War ended in 1898, but one aspect of the conflict remains unresolved: the status of Puerto Rico. Despite the importance of the issue, it is rarely an agenda priority in the continental US. Recently, the House of Representatives passed HR 2499 (“The Puerto Rico Democracy Act of 2010”). read more...



Monday, June 7, 2010

NEW YORK, USA (AFP) -- Puerto Rico's Miguel Cotto stopped a game but injured Yuri Foreman in the ninth round Saturday to seize Foreman's World Boxing Association junior middleweight title at the new Yankee Stadium. The ending was suitably dramatic for boxing's return to the home of baseball's Yankees. read more...



Friday, June 4, 2010

NEW YORK, USA (AFP) -- Brooklyn-based Israeli Yuri Foreman and New York favorite Miguel Cotto of Puerto Rico will seize a slice of boxing history on Saturday as they bring prize fighting to the new Yankee Stadium. The two will duel for Foreman's World Boxing Association junior middleweight title. read more...



Thursday, May 20, 2010

SAN JUAN, Puerto Rico (Reuters) -- Pharmaceutical giant Pfizer Inc's decision to eliminate 6,000 jobs at plants in Puerto Rico and elsewhere is a poorly-timed setback for a Caribbean island economy in its fourth year of recession. The Pfizer restructuring includes the shuttering of two Puerto Rico plants. read more...



Thursday, May 20, 2010

WASHINGTON, USA (AFP) -- US authorities have a arrested a man trying to board a flight in Puerto Rico armed with a small arsenal of weapons, including a stun gun, pepper spray canister, box cutters and a switch blade, officials said on Wednesday. Airport authorities detained Jose Pol as he went through a security check. read more...



Monday, May 17, 2010

SAN JUAN, Puerto Rico (AFP) -- A moderate earthquake measuring 5.7 shook an area in the Caribbean Sea off the island of Puerto Rico early Sunday, but there were no reports of casualties or damage, the US government said. The epicenter of the tremor, which occurred at 0516 GMT, was located in Mona Passage. read more...



Friday, May 7, 2010

BAYAMON, Puerto Rico -- The Puerto Rico Manatee Conservation Center and the Inter American University of Puerto Rico signed last week a partnership agreement with the Georgia Aquarium for the conservation of endangered marine species. As explained by Professor Juan Martínez, chancellor of the... read more...



Wednesday, May 5, 2010

SAN JUAN, Puerto Rico (Reuters) -- As US banking regulators move to clean up the financial mess in Puerto Rico and put the island's ailing economy back on track, another major local lender, First BanCorp, could emerge as a blip on the takeover radar. In such a case, Bank of Nova Scotia could be the perfect suitor. read more...



Saturday, May 1, 2010

WASHINGTON/NEW YORK, USA (Reuters) -- US regulators seized three Puerto Rican banks on Friday and sold their deposits to other banks, costing the Federal Deposit Insurance Corp insurance fund $5.3 billion -- one of the largest hits in the banking crisis. The FDIC said regulators had seized the banking operations... read more...



Friday, April 30, 2010

WASHINGTON, USA (AFP) - The US House of Representatives on Thursday approved a measure allowing the territory of Puerto Rico to set a new referendum on statehood or possible independence. House members voted 223 to 169 to approve the measure, which now moves to the Senate. read more...



Wednesday, April 28, 2010

SAN JUAN, Puerto Rico -- Critical Hub Networks has been awarded a $25.7 million ARRA grant through the US Department of Commerce to bridge the technological divide, boost economic growth, create jobs, and improve education and healthcare through the improvement of broadband Internet services in Puerto Rico. read more...



Thursday, April 22, 2010

NEW YORK, USA (Bloomberg) -- Puerto Rico Electric Power Authority increased its debt sale by 67 percent to about $963 million of tax-exempt and Build America bonds and lowered its borrowing costs in an issue on Wednesday. PREPA had planned to sell $575 million in debt. It more than doubled the  bonds. read more...



Thursday, April 22, 2010

Bite into a piece of fruit and think about its origin. What about tonight’s dinner? You might realize that tomatoes don’t grow wrapped in cellophane. But do you have a clue about the nature of your other vegetables, fruit, bread, fish, and especially meat? Food shouldn’t travel more than we do. read more...



Tuesday, April 20, 2010

NEW YORK, USA (Reuters) -- Mortgage lender Doral Financial Corp said it will raise up to $600 million through a private placement, joining a slew of Puerto Rican firms chasing regulator-backed deals. The company said $180 million of the total raised amount will be permanent capital. read more...



Tuesday, April 13, 2010

ST THOMAS, USVI -- Governor John deJongh has written to US Senator Robert Menendez regarding the senator’s criticism of two beneficial, long-term economic development agreements secured by the US Virgin Islands Government. The partnerships will keep a global company in the United States... read more...



Tuesday, April 13, 2010

SAN JUAN, Puerto Rico (Reuters) -- Popular Inc, the parent of Banco Popular, reported a seventh-straight quarterly loss as it works around its credit problems to navigate the economic downturn. Shares of the company fell 8 percent to $2.80 in extended trading, after closing at $3.05 Monday on Nasdaq. read more...



Monday, April 12, 2010

NEW YORK, USA (AFP) - Puerto Rico's Miguel Cotto and Yuri Foreman will become part of New York boxing lore when they meet at Yankee Stadium for Foreman's World Boxing Association junior middleweight world title on June 5.  It will mark the first prize fight in more than three decades at Yankee Stadium. read more...



Monday, April 12, 2010

SUNRISE, USA (AFP) -- Unbeaten Andre Berto stopped Puerto Rico's Carlos Quintana in the eighth round Saturday to retain his World Boxing Council welterweight title.  Berto, who improved to 26-0 with 20 wins inside the distance, shrugged off a slow start and pounded Quintana from the third round. read more...



Friday, April 9, 2010

SUNRISE, USA (AFP) -- Andre Berto, who put his career on hold after the earthquake in Haiti in January, returns to the ring on Saturday to defend his World Boxing Council welterweight title against Puerto Rico's Carlos Quintana. Florida-based Berto's parents are Haitian and he represented Haiti in the Athens Olympics. read more...



Tuesday, April 6, 2010

BANGALORE, India (Reuters) -- Puerto Rican banks are likely to see a round of consolidation soon, as regulators move to close underperforming lenders, giving Popular Inc, the biggest player, an excellent chance to bulk up. At least three of Puerto Rico's biggest banks are under cease and desist orders. read more...



Saturday, March 27, 2010

SAN JUAN, Puerto Rico -- Microsoft has donated US$60,000 to the Trust for the Americas, a nonprofit organization affiliated with the Organization of American States (OAS), to establish its program, Partnership in Opportunities for Employment through Technology in the Americas (POETA), in Puerto Rico. read more...



Thursday, March 25, 2010

NEW YORK, USA (Bloomberg) -- Puerto Rico Electric Power Authority, whose credit rating is two levels higher than the Caribbean commonwealth’s, began marketing a record $850 million in tax-exempt bonds on Wednesday with yields at a three-month low. This is the first sale in almost two years for PREPA. read more...



Friday, March 19, 2010

NEW YORK, USA (Bloomberg) -- The New York Mets and Florida Marlins will play a three-game Major League Baseball series in June at Puerto Rico’s Hiram Bithorn Stadium. The June 28-30 games were originally to be played in Miami, where the Marlins have drawn the fewest fans in the National League... read more...



Tuesday, March 16, 2010

RIO GRANDE, Puerto Rico (AFP) -- American rookie Derek Lamely fired a six-under par 66 in Monday's final round to win his first US PGA title, capturing the storm-interrupted Puerto Rico Open. Lamely missed the cut in four of seven prior starts this year and never cracked the top 10 in a tour start before capturing the top prize. read more...



Friday, March 12, 2010

WASHINGTON, USA -- The National Puerto Rican Coalition (NPRC) has urged Congress to adopt revisions to the pending health care reform legislation to better address the needs of US citizens in Puerto Rico. "We are on the verge of historic reforms, so let's do the job right," said NPRC President Rafael Fantauzzi. read more...



Friday, March 12, 2010

RIO GRANDE, Puerto Rico (AFP) -- Heavy rain brought a halt to the first round of the US PGA Tour's Puerto Rico Open almost before it began on Thursday. The first round was barely underway on the 7,526-yard Trump International course when downpours prompted organizers to suspend play. read more...



Thursday, March 11, 2010

MIAMI, USA (Reuters) -- Puerto Rico's government is preparing public-private partnerships to jump-start the island's stalled economy and wants several of the big-ticket deals in place by year's end. Governor Luis Fortuno has in 15 months in office eliminated thousands of government jobs. read more...



Monday, March 8, 2010

NEW YORK, USA (Reuters) -- Organizers of the New York Puerto Rican Day Parade, one of the largest US outdoor events, said they are ending a 30-year relationship with the makers of Captain Morgan Rum citing Diageo PLC's plans to move distillation of the drink from Puerto Rico. read more...



Thursday, March 4, 2010

SAN JUAN, Puerto Rico (Reuters) -- Puerto Ricans told a White House task force on Wednesday that persistent wrangling over the US Caribbean territory's political status was hampering solutions to its worsening social and economic problems. The status debate has long dominated politics in Puerto Rico read more...



Wednesday, February 24, 2010

NEW YORK, USA (Reuters) -- Diageo PLC accused rival Bacardi Ltd of trying to drive its Captain Morgan rum production out of the United States in order to protect its own substantial rum subsidies from the Puerto Rican government. Guy Smith, executive vice president of Diageo North America, said... read more...



Friday, February 19, 2010

SAN JUAN, Puerto Rico -- Puerto Rico's Department of Natural and Environmental Resources, or DRNA, has launched an ambitious, island-wide reforestation project that includes the goal of planting a million trees over the next three years. One tree supplies the daily oxygen requirements of five people. read more...



Monday, February 8, 2010

From the inception of public discussions on Diageo and Cruzan Rum, this writer recognized the value of supporting the efforts of our government in pursuit of the opportunities for diversifying the Virgin Islands economy through increased rum production and exportation to the United States based upon special tax legislation. read more...



Saturday, January 30, 2010

WASHINGTON, USA -- A Congressional Research Service analysis of the rum excise tax cover over program, from which Puerto Rico receives about $400 million annually and the US Virgin Islands about $90 million annually, finds that proposed legislation by the Puerto Rico Resident Commissioner would be detrimental. read more...



Thursday, January 28, 2010

NEW YORK, USA (Bloomberg) -- Puerto Rico’s Sales Tax Financing Corp., created in 2006 to help the island commonwealth lower borrowing costs, sold $1.84 billion of bonds after attracting enough buyers to boost the sale by almost 32 percent. The offering was the largest tax-exempt deal of 2010 so far. read more...



Monday, January 25, 2010

NEW YORK, USA (Reuters) -- Puerto Rico's Juan Manuel Lopez stopped American Steven Luevano in the seventh round to win the WBO featherweight title in New York Saturday. A hard right-left combination from the challenger knocked Luevano down and referee Benjy Esteves stopped the contest. read more...



Saturday, January 23, 2010

SAN JUAN, Puerto Rico (Reuters) -- Popular Inc, the parent of Banco Popular, posted a narrower fourth-quarter loss on lower loan loss provision, but said it expects adverse economic conditions to continue to hurt its earnings. Net loss applicable to common shareholders for the quarter was $213.2 million. read more...



Wednesday, January 13, 2010

SAN JUAN , Puerto Rico -- The crew of Coast Guard Cutter Pea Island repatriated seven Dominican men to Santo Domingo, Dominican Republic on Tuesday, following an at-sea interdiction by Caribbean Border Interagency Group Law Enforcement authorities on Monday. The crew detained one other Dominican man. read more...



Saturday, January 9, 2010

WASHINGTON, USA -- With Puerto Rico’s unemployment rate now at 16.5 percent, the Chairman and President of the National Puerto Rican Coalition on Friday urged the President’s Task Force on Puerto Rico’s Status to develop “a government-wide ‘Marshall Plan’ to rebuild the economy of Puerto Rico”. read more...



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