News from Puerto Rico:
August 16, 2014
SAN JUAN, Puerto Rico -- The Puerto Rico Electric Power Authority (PREPA) announced on Thursday that discussions with its creditors have resulted in agreements that provide PREPA with a consensual path forward to improve its operations and financial situation.
August 15, 2014
SAN JUAN, Puerto Rico -- US Customs and Border Protection (CBP) San Juan field operations officers and import specialists this past weekend seized various courier consignments that contained counterfeit speakers, car beepers, iPhone parts, cell phone front screens, USB cables and wrist-watches.
August 14, 2014
SAN JUAN, Puerto Rico -- Fourteen individuals have been charged in three indictments in Puerto Rico with conspiracy to commit identification fraud, money laundering, aggravated identity theft and passport fraud in connection with their alleged roles in a scheme to traffic...
August 9, 2014
SAN JUAN, Puerto Rico -- Puerto Rico’s Treasury Secretary Melba Acosta Febo has reported that the preliminary revenue for July 2014, the first month of fiscal year 2015, totaled $624 million, exceeding July 2013 revenue by $129 million, or 26%. This number also surpassed July 2014 estimates by $37 million.
August 8, 2014
SAN ANTONIO, USA -- Alberto Bacó Bagué, the secretary of Puerto Rico’s Department of Economic Development and Commerce (DDEC), closed a two-day American Latino National Summit on Wednesday by outlining the government’s plan for driving economic growth. The plan focuses on...
August 8, 2014
It is alarming that Barbados’ Ambassador to the United States, John Beale, has publicly stated that CARICOM (the 15-nation Caribbean Community) is “inactive” and needs to take a position on the issue of Caribbean rums being wiped-out of the US market. Inactivity is not in the interest of CARICOM...
August 7, 2014
NEW YORK, USA -- Rafael Blanco Latorre, commissioner of the Puerto Rico Office of the Financial Institutions, recently told Reuters that his office is winding up an investigation into whether Puerto Rican bond funds were unsuitable for the UBS clients who bought them.
August 2, 2014
MIAMI, USA -- The centre of Tropical Storm Bertha was passing just south of Puerto Rico on Saturday morning, moving toward the west-northwest near 22 mph. A turn toward the northwest is expected by Saturday night, with this motion continuing through Sunday night.
August 2, 2014
MIAMI, USA -- At 5:00 pm EDT on Friday, the centre of Tropical Storm Bertha was located 20 miles northwest of Fort de France, Martinique, and about 405 miles southeast of San Juan, Puerto Rico, as the system moved into the northeastern Caribbean Sea. According to the National Hurricane Center...
August 1, 2014
MIAMI, USA -- Tropical storm Bertha formed in the western Atlantic on Thursday night and a tropical storm warning is in effect for Barbados, St Lucia, Dominica, Martinique, Puerto Rico, US Virgin Islands and the British Virgin Islands. A tropical storm watch is in effect for St Vincent.
July 25, 2014
SAN JUAN, Puerto Rico -- The secretary of justice of Puerto Rico, César Miranda, announced on Thursday that counsel for the Department of Justice (DOJ) and legal representatives of the Department of the Treasury (Treasury) filed two documents denying Doral Financial Corporation's...
July 21, 2014
SAN JUAN, Puerto Rico – On Thursday, health officials in Puerto Rico declared an epidemic of chikungunya, a mosquito-borne virus that has been confirmed in more than 200 cases across the island as of late last month. Health Secretary Ana Rius said the majority of those cases...
July 14, 2014
NEW YORK, USA -- Declines in pricing of Puerto Rico bonds added further pressure to already depressed net asset values (NAVs) of Puerto Rico mutual funds, according to Fitch Ratings. Fitch-rated Puerto Rico fund managers are reacting swiftly by adding to collateral supporting rated notes.
July 12, 2014
SAN JUAN, Puerto Rico -- Three Police of Puerto Rico (POPR) officers and two civilians have been charged with robbery, firearms violations, drug conspiracy and civil rights violations for their involvement in a July 2012 robbery in Bayamon, Puerto Rico.
July 12, 2014
SAN JUAN, Puerto Rico -- Puerto Rico’s Secretary of the Department of the Treasury, Melba Acosta Febo, on Friday reported on total preliminary net revenue collections for the close of Fiscal Year 2014, ended on June 30. Net collections totaled $9,037 million and exceeded...
July 8, 2014
BASSETERRE, St Kitts (CUOPM) -- The US Embassy to Barbados and the Eastern Caribbean recently hosted a trade mission delegation from Puerto Rico which visited St Kitts on the Carnival Valor. A US trade mission is an overseas program for American firms that want to explore and pursue...
July 5, 2014
Though never having been fully embraced as a state, Puerto Rico’s auspicious location in the central Caribbean has made it a longstanding interest of the United States. The area is respectably self-governing, yet still remains answerable to the United States in many aspects of its defense.
July 3, 2014
At a time when individuals and opposing political parties in some Caribbean islands are voicing disagreement that their island is signatory to the PetroCaribe agreement with Venezuela and that, given the opportunity, they would revoke the agreement,
July 2, 2014
SAN JUAN, Puerto Rico -- On Tuesday, US Customs and Border Protection (CBP) San Juan Field Operations officers seized a consignment of counterfeit soccer team delegation uniforms. The shipment, arriving from Hong Kong to the San Juan Air Cargo facility, contained boxes of...
June 27, 2014
NEW YORK, USA (ACN) -- Cuba reiterated on Monday at the United Nations its call for the end of the colonial status of Puerto Rico and for the materialization of that island’s right to self-determination and independence. Cuban ambassador Rodolfo Reyes presented a new document on the issue...
June 27, 2014
SAN JUAN, Puerto Rico -- Puerto Rico Governor Alejandro Garcia Padilla proposed new legislation on Wednesday that would allow some debt-laden public entities to restructure their bonds. According to a press statement, the main purpose of the bill entitled The Puerto Rico Public Corporations Debt...
June 21, 2014
DES MOINES, USA -- The American Future Fund (AFF), a US nonprofit organization, has launched an advertising campaign warning that Governor Alejandro Padilla of Puerto Rico is leading the island commonwealth down a dangerous path with policies and tactics similar to...
June 20, 2014
SAN JUAN, Puerto Rico -- US Customs and Border Protection (CBP) highlighted last Friday the successful implementation of the in-transit baggage pilot program at the Luis Muñoz Marín International Airport (LMMIA) in Puerto Rico, after one full year of operation with Condor Airlines flights from Frankfurt.
June 19, 2014
SAN JUAN, Puerto Rico -- Over 200 representatives from Puerto Rican and Spanish companies gathered in San Juan on Tuesday to discuss the pro-business environment in Puerto Rico, reinforcing it as an ideal “bridge” for companies interested in expanding to North American...
June 11, 2014
WASHINGTON, USA -- President Barack Obama signed a bill on Tuesday awarding the members of Puerto Rico's 65th Infantry Regiment -- the Borinqueneers -- the Congressional Gold Medal. The medal recognizes the contributions and extraordinary heroism of the men of the regiment.
June 9, 2014
AN JUAN, Puerto Rico -- Volunteers will celebrate Father’s Day by sweeping debris out of a critical bay in eastern Puerto Rico in Pesca, Playa y Ambiente’s third mega-clean-up. The event in Punta Las Picuas is on Saturday, June 14, and is also aimed at raising awareness for a gill net ban.
June 7, 2014
SAN JUAN, Puerto Rico -- US District Judge Gustavo Gelpí has approved the selection of Arnaldo Claudio to serve as technical compliance advisor (TCA), overseeing the implementation of sweeping civil rights reforms under the agreement for sustainable reform of the...