Categoría: Business

Tras la presidencia de los industriales destacado líder de manufactura

Tras la presidencia de los industriales destacado líder de manufactura

Eric Santiago, vicepresidente, gerente general y principal oficial financiero de Fenwal International, Inc., una compañía de Fresenius Kabi, aspira a convertirse en el nuevo presidente de la Asociación de Industriales de Puerto Rico (AIPR).

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Asociación de Bancos ofrece consejos a dueños de pequeños negocios

Asociación de Bancos ofrece consejos a dueños de pequeños negocios

La vicepresidenta de la Asociación de Bancos de Puerto Rico (ABPR), Zoimé Álvarez Rubio informó que esa entidad se unió a la conmemoración de la Semana del Pequeño Negocio en Puerto Rico,

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Billete de lotería honra Semana Dominicana en Puerto Rico

Billete de lotería honra Semana Dominicana en Puerto Rico

La Lotería de Puerto Rico honra a la comunidad dominicana en Puerto Rico con un billete conmemorativo en el que se destaca la bandera de la República Dominicana enmarcado en la silueta del mapa del país hermano, informó el miércoles, Antonio Pérez López, secretario auxiliar del Negociado de las Loterías.

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There’s a big sale on Puerto Rican homes

There’s a big sale on Puerto Rican homes

While most of the U.S. freezes in February, Puerto Rico is 80 degrees. The island is home to one of the world’s best beaches, according to TripAdvisor.

And it’s a buyer’s market right now. You can get a 3-bedroom home near the beach for under $100,000.
Hedge fund billionaire John Paulson has been scooping up real estate there. He predicts it will be the “next Miami.”

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Walmart Sues Puerto Rico, Claiming an Unfair and Onerous Tax Burden

Walmart Sues Puerto Rico, Claiming an Unfair and Onerous Tax Burden

The last thing Puerto Rico would seem to need is another fight about money.

But the island’s government, already facing multiple battles over billions of dollars in debt, was in yet another courtroom on Wednesday, locked in a legal dispute with its biggest sales-tax collector and its biggest private employer — the mighty retailer Walmart.

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Puerto Rico defaults on its debt

Why Walmart is suing Puerto Rico

It’s such a dramatic hike that Walmart estimates now it will have to pay 91.5% of its net income in Puerto Rico in taxes. That’s about three times what Walmart pays, on average, in taxes elsewhere.
Puerto Rico is short on cash and has accused Walmart of not paying its fair share of taxes. The island owes over $70 billion in debt that it says it cannot pay back in full.

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Expo Puerto Rico 2015 en fotos

Expo Puerto Rico 2015 en fotos

Evento multisectorial de negocios dirigido a promover la exportación de productos y servicios locales ante potenciales compradores internacionales.           

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Jacksonville’s Crowley constructing huge pier in Puerto Rico to handle LNG ships

Jacksonville’s Crowley constructing huge pier in Puerto Rico to handle LNG ships

Jacksonville-based Crowley Maritime Corp. has started construction on a new $48.5 million pier in San Juan, Puerto Rico to handle the company’s liquefied natural gas ships.
The project, overseen by subsidiary Crowley Puerto Rico Services Inc,, will include a 900-foot-long, 114-foot-wide concrete pier, a news release said Tuesday. The structure is being built in anticipation of the 2017 arrival of the LNG ships owned by Crowley that will make regular trips between Jacksonville and the U.S. territory.

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As Puerto Rico Faces Dec. 1 Payment, “Vulture Fund” Refuses To Negotiate

As Puerto Rico Faces Dec. 1 Payment, “Vulture Fund” Refuses To Negotiate

As the struggling island nation of Puerto Rico grapples with its near $70 billion in debt, with most major investors participating in repayment negotiations, there is one distressed debt hedge fund notably absent from any talks that includes compromise considerations.

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Puerto Rico HTA Cancels $228.5M of Ambac-Insured Bonds

Puerto Rico HTA Cancels $228.5M of Ambac-Insured Bonds

BY AARON WEITZMAN – NOV 11, 2015 Puerto Rico Highways and Transportation Authority cancels $228.5 million of transportation revenue refunding bonds issued in 2007, reducing Ambac Financial Group, Inc.’s exposure in Puerto Rico. “We have been at this for several months and completed the cancellation last night,” Nader Tavakoli, interim president and chief executive officer of Ambac told The Bond Buyer […]

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House Panel Chairman Sees Risk of Bomb on Puerto Rico Flights

House Panel Chairman Sees Risk of Bomb on Puerto Rico Flights

Scott Lanman November 8, 2015 Flights bound from Puerto Rico to the U.S. mainland may be vulnerable to having bombs placed on board, according to the chairman of the House Homeland Security Committee. “In Puerto Rico, we have many cases of prosecution of corruption, of putting drugs and weapons on airplanes inbound to the United States,” Representative Michael McCaul, a […]

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Puerto Rico’s Debt Crisis and the 1975 Law Complicating Matters

Puerto Rico’s Debt Crisis and the 1975 Law Complicating Matters

By MARY WILLIAMS WALSHNOV. 4, 2015 The New York Times   To appreciate why it is proving so hard for Washington to help debt-burdened Puerto Rico, it helps to go back to 1975, the year New York City went broke, and consider the role played in that crisis by a prominent Republican senator from Texas named John Tower. Fearing more […]

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Getting a Grip On Puerto Rico’s Fiscal Problems: NY Fed

Getting a Grip On Puerto Rico’s Fiscal Problems: NY Fed

By Clayton Browne on November 4, 2015 in Business By Clayton Browne on November 4, 2015 in Business A November 3rd post on the New York Fed’s Liberty Street Economics blog focuses on the precarious fiscal situation of Puerto Rico, and takes a closer look at the impact of the alternatives the government of the Commonwealth of Puerto Rico might […]

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Puerto Rico Bondholders Said to Hire Adviser Before Meeting

Puerto Rico Bondholders Said to Hire Adviser Before Meeting

A group of investors holding Puerto Rico’s general-obligation bonds have hired restructuring adviser Goldin Associates LLC to represent them as the commonwealth seeks to reduce its debt burden, according to three people with knowledge of the matter.

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Puerto Rico Creditors Said to Hire Greenhill for Water Deal

Puerto Rico Creditors Said to Hire Greenhill for Water Deal

October 19, 2015 — 12:08 PM AST Updated on October 19, 2015 — 1:18 PM AST A group of investors that hold the bonds of Puerto Rico’s water utility have hired investment bank Greenhill & Co. to help negotiate terms for a new financing, according to two people with knowledge of the matter. The investors have discussed a plan that […]

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