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Puerto Rico default imminent amid congressional inaction

April 29, 2016
Puerto Rico default imminent amid congressional inaction WASHINGTON, USA -- Puerto Rico’s Government Development Bank (GDB) is facing a default on $422 million in debt repayments due on May 1, while Congress so far unsuccessfully grapples with legislation to address the island’s financial crisis. If the GDB cannot reach an agreement with creditors...

Puerto Rico dedicated to containing zika; welcomes tourists

April 28, 2016
Puerto Rico dedicated to containing zika; welcomes tourists SAN JUAN, Puerto Rico -- With the zika virus making headlines around the world, Puerto Rico has implemented a comprehensive program to protect its nearly four million residents and five million annual visitors. The Puerto Rico Department of Health is working in close collaboration with...

Commentary: Why the US Treasury wants to save Puerto Rico

April 28, 2016
Commentary: Why the US Treasury wants to save Puerto Rico It appears that the Treasury Department is deploying all its most trusted advisors on an all out push to convince Congress to save Puerto Rico and for good reason. You see, the Puerto Rico financial crisis was started by Treasury Secretary Lew and his Treasury associates.

Puerto Ricans take heart in 'Hamilton' creator Lin-Manuel Miranda's success

April 26, 2016
Puerto Ricans take heart in 'Hamilton' creator Lin-Manuel Miranda's success SAN JUAN, Puerto Rico -- The Puerto Rican press and social media have been active this week with the news that Lin-Manuel Miranda has become the most recent winner of the prestigious Pulitzer prize in the drama genre with his musical Hamilton, which he composed and wrote.

Puerto Rico bill to be reworked; Sanders calls for debt audit

April 18, 2016
Puerto Rico bill to be reworked; Sanders calls for debt audit WASHINGTON, USA -- House Republicans on Friday were reworking proposed legislation to address Puerto Rico’s debt crisis but, according to House Natural Resources Committee chairman Rob Bishop, “The bill is not going to change substantially.” Senator Bernie Sanders has called for an audit...

Puerto Rico Implicated in Panama Papers leak

April 18, 2016
Puerto Rico Implicated in Panama Papers leak SAN JUAN, Puerto Rico -- Puerto Rico has not remained unscathed following the revelation of leaked documents from Panamanian law firm Mossack Fonseca, involving a number of people from the higher echelons of global society. The Centro de Periodismo Investigativo de Puerto Rico...

Borinqueneers regiment honoured on Puerto Rico Day at US Congress

April 16, 2016
Borinqueneers regiment honoured on Puerto Rico Day at US Congress WASHINGTON, USA -- On Wednesday, Puerto Rico Day at the US Congress, representatives of the 65th Infantry Regiment, the Borinqueneers, a Puerto Rican regiment that bravely fought and served the United States during World War I, World War II, and the Korean War, were presented...

Bondholders withdraw restraining order against Puerto Rico development bank

April 15, 2016
Bondholders withdraw restraining order against Puerto Rico development bank NEW YORK, USA -- Substantial holders of outstanding bonds of the Government Development Bank for Puerto Rico (GDB) have withdrawn their request for a temporary restraining order (TRO) in the wake of an executive order signed by Puerto Rico Governor Alejandro García Padilla.

Twenty-one individuals indicted for violating RICO Act in Puerto Rico

April 15, 2016
Twenty-one individuals indicted for violating RICO Act in Puerto Rico SAN JUAN, Puerto Rico -- A 17 count federal indictment was unsealed on Thursday in the District of Puerto Rico charging 21 defendants with racketeering, conspiracy to commit bank robbery, burglary and larceny, interference with commerce by robbery, carjacking, conspiracy to...

Puerto Del Rey Marina to host Puerto Rico regatta

April 15, 2016
Puerto Del Rey Marina to host Puerto Rico regatta SAN JUAN, Puerto Rico -- Hoist the sails to Puerto del Rey Marina in Fajardo, this year’s host port for the 11th edition of the Puerto Rico Heineken International Regatta (PRHIR). The PRHIR will be held on June 10-12, in the biggest marina in the Caribbean.  The regatta, organized by Heineken...

New financial control board proposed for Puerto Rico

April 14, 2016
New financial control board proposed for Puerto Rico WASHINGTON, USA -- As part of the ongoing attempts to resolve the dire financial crisis in Puerto Rico, House Republicans on Tuesday released compromise legislation that would create a tough new seven-member financial control board for the territory and would oversee...

Puerto Rico named as test site in preparation for 2020 Census

April 14, 2016
Puerto Rico named as test site in preparation for 2020 Census WASHINGTON, USA -- The US Census Bureau has announced that it plans to conduct a test census in selected areas within Puerto Rico beginning February 2017. The Census Bureau will test new technologies, operations and procedures for the 2020 Census of Puerto Rico.

'Hundreds of thousands' of zika cases possible in Puerto Rico, says CDC official

April 13, 2016
'Hundreds of thousands' of zika cases possible in Puerto Rico, says CDC official WASHINGTON, USA -- According to US public health officials, the zika virus situation for Puerto Rico and other US territories looks particularly grim, with 354 confirmed cases and 37 pregnant women affected. “We are quite concerned about Puerto Rico, where the virus is spreading...

Wall St fraud may fire up independence groups in Puerto Rico

April 12, 2016
Wall St fraud may fire up independence groups in Puerto Rico SAN JUAN, Puerto Rico -- Allegations that multibillion dollar frauds may have exacerbated and are still contributing to the ongoing financial crisis in Puerto Rico are likely to provide new ammunition for pro-independence groups on the island, including the Boricua Popular/People's Army.

Court upholds RICO claims against Puerto Rico utility

April 8, 2016
Court upholds RICO claims against Puerto Rico utility SAN JUAN, Puerto Rico -- A US District Judge overseeing a class-action lawsuit against Puerto Rico Electric Power Authority (PREPA) and the world’s largest fuel oil suppliers for perpetuating an extensive fuel oil fraud has upheld claims that the defendants violated the Racketeer Influenced...

Puerto Rico lawmakers approve moratorium on loan repayments

April 7, 2016
Puerto Rico lawmakers approve moratorium on loan repayments SAN JUAN, Puerto Rico -- Early Wednesday morning, Puerto Rico's House of Representatives approved a bill imposing a moratorium on servicing the US territory’s massive $70 billion debt. The Senate approved the bill in the early hours of Tuesday morning, and the House passed it some...

First import safety boot camps held in Puerto Rico and USVI

April 7, 2016
First import safety boot camps held in Puerto Rico and USVI SAN JUAN, Puerto Rico -- US Customs and Border Protection Officers are often required to examine and hold merchandise on behalf of other government agencies that have the regulatory authority to determine the admissibility of these products. In an effort to better protect the country...

Personal conflicts obstruct FBI investigation into Puerto Rico fraud

April 6, 2016
Personal conflicts obstruct FBI investigation into Puerto Rico fraud SAN JUAN, Puerto Rico -- The ongoing controversy over Puerto Rico’s insolvency and efforts to enlist congressional support for legal bankruptcy protection for the US territory have resulted in fingers being pointed at the local Federal Bureau of Investigation (FBI) and the US Attorney’s office.

Puerto Rico may declare moratorium on debt payments

April 6, 2016
Puerto Rico may declare moratorium on debt payments SAN JUAN, Puerto Rico -- In the face of opposition from creditors, the Puerto Rico Senate in the early hours of Tuesday morning approved a measure that would impose a moratorium on debt service payments. Puerto Rico’s House of Representatives was due to consider the measure...

Letter: Bankruptcy will not help the people of Puerto Rico

April 2, 2016
Letter: Bankruptcy will not help the people of Puerto Rico Inexplicably, the government representatives of Puerto Rico and the Democratic leadership in the House and Senate are pushing for various forms of bankruptcy protection for Puerto Rico. It is inexplicable because losses incurred as an act of fraud are not dischargeable in bankruptcy.

Letter: Even an Immediate bailout of Puerto Rico is unlikely to save it!

March 29, 2016
Letter: Even an Immediate bailout of Puerto Rico is unlikely to save it! For almost a decade it appears that the island of Puerto Rico has been issuing municipal bond debt that it knew it could never repay. Municipal entities in Puerto Rico like the government owned electric utility have been technically bankrupt for many years. This utility and almost every...

US CBP reminds pleasure boaters of reporting requirements in the Caribbean

March 22, 2016
US CBP reminds pleasure boaters of reporting requirements in the Caribbean SAN JUAN, Puerto Rico -- Easter weekend marks the start of a busy boating season that lasts until the very end of the summer within the islands of the Caribbean. With an increase in navigating traffic throughout the various islands, US Customs and Border Protection (CBP) reminded...

Tim O'Donnell becomes Ironman Puerto Rico champion for third time

March 21, 2016
Tim O'Donnell becomes Ironman Puerto Rico champion for third time SAN JUAN, Puerto Rico -- The most competitive event on the island, Ironman 70.3 Puerto Rico, concluded its sixth edition with Tim O'Donnell (3:50) and Tine Deckers (4:20) as winners over more than 1,500 athletes. This is the third championship for O’Donnell, who also won 2011 and...

Puerto Rico ready for Ironman 70.3

March 18, 2016
Puerto Rico ready for Ironman 70.3 SAN JUAN, Puerto Rico -- This weekend San Juan will host the sixth edition of Ironman 70.3 Puerto Rico to be held on March 20 starting at 6:50 am. The official start will take place in the Condado Lagoon where the athletes will swim 1.2 miles and continue towards the transition area.

World Happiness Report 2016 update shows significantly more inequality in Caribbean

March 17, 2016
World Happiness Report 2016 update shows significantly more inequality in Caribbean ROME, Italy -- The World Happiness Report 2016 Update, which ranks 156 countries by their happiness levels, was released on Wednesday in Rome in advance of UN World Happiness Day, March 20, and shows that two regions – the Middle East and North Africa, and Latin America and Caribbean...

Top five Caribbean casino destinations

March 12, 2016
Top five Caribbean casino destinations There are many international locations around the world that cater to gambling, the most commonly known being Las Vegas. However, there are many other gaming hubs that excite the crowds. One such destination that may surprise many is the Caribbean; known predominately for...

Letter: Puerto Rico is asking Congress to run out the statute of limitations on fraud claims

March 11, 2016
Letter: Puerto Rico is asking Congress to run out the statute of limitations on fraud claims In a story about government corruption and fiscal misstatement, our Congress may insert themselves on the side of the defendant to prevent any legal recourse by the victims. It’s hard to believe but it is true. Between 2008 and 2013, Puerto Rico’s public utility, PREPA, issued billions...

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