Puerto Rico News Digest For September 19, 2016

CONGRESS COULD MAKE PROGRESS ON ZIKA

From The San Juan Daily Star:

"A long impasse that has delayed money to combat Zika for months neared an
end Thursday as congressional aides said Republicans would relent and let Pla-
nned Parenthood affiliated clinics share in new funding to fi ght the virus. The
potential deal would ease the way for Congress to quit work until after the Nov.
8 election. Democrats welcomed the move, which would address their chief
complaint to a GOP plan intended to fight the virus..."

PR WAR VETERANS VISIT SOUTH KOREA

From Yonhap:

" South Korea has invited Puerto Rican soldiers who fought during the Korean
War (1950-53) to visit the country 66 years after hostilities ended, military offi-
cials said Monday. Sixteen Puerto Rican war veterans are scheduled to make a
six-day trip to South Korea from Tuesday to Sunday as part of the 131 veterans
and their families from the United States and Puerto Rico. This marks the first
time that the veterans from the Caribbean island will be visiting the country, the
Ministry of Patriots & Veterans Affairs said. While here, they will visit the truce
village of Panmunjom, the Joint Security Area (JSA), the Seoul National Ceme-
tery and historic palaces, the ministry said in a statement..."

LUGARO ENCOURAGES VOTER REGISTRATION ON FB

From Caribbean Business:

"n a Facebook video that she appeared to have recorded in her residence, indep-
endent gubernatorial candidate Alexandra Lúgaro urged people to register to vote
before the deadline Monday, Sept. 19. In her Sunday evening video, Lúgaro em-
phasizes the importance of voting with, among other examples, speaking about
the massive electoral campaigns that focus on voting as a priority in some coun-
tries...In her message, which she also recorded in sign language, Lúgaro urged
voters to record a video or post anything, “even art,” that expresses the importa-
nce of voting, adding she would share these and that some 300,000 people would
be seeing them..."

MESON SANDWICHES TO EXPAND IN CENTRAL FL

From News Is My Business:

"Mesón Sandwiches, a Puerto Rico-based fast casual restaurant that marries
the flavors of the Caribbean with an American staple, will open this week its
third Central Florida location at the Premium Outlets Vineland in Orlando. Two
other Mesón restaurants are scheduled to open next year in Lee Vista Promenade
and the Gardens on Millennia, also in the Metro Orlando area, for a total of five
locations by the fall of 2017..."

Puerto Rico News Digest For July 27, 2016

INDEPENDENCE GROUPS PROTEST DNC

From The San Juan Daily Star:

"Various Puerto Rico diaspora organizations in the greater Philadelphia area
protested outside the Democratic National Convention on Monday against the
Puerto Rico Oversight, Management and Economic Stability Act (PROMESA)
and the establishment of a federal fiscal control board. “The Puerto Rico com-
munity must be heard; the Democrats should know our demands since both De-
mocrats and Republicans have been party to the crimes of the United States ag-
ainst Puerto Rico,” said Berta Joubert, the spokeswoman for the Philadelphia-
Camden Boricua Committee, according to Inter News Service..."

44 INDICTED FOR TRAFFICKING IN MAYAGUEZ

From US Attorney's Office:

" U.S. Attorney for the District of Puerto Rico Rosa Emilia Rodríguez-Vél-
ez announced three indictments and the arrest of 44 defendants charged with
conspiracy to possess with intent to distribute, and distribution of controlled
substances, and possession of firearms. The agencies in charge of the investi-
gation are Homeland Security Investigations (HSI) and the Police of Puerto
Rico (POPR). One of the indictments, returned on July 19, 2016, by a federal
grand jury and unsealed in federal court today, charges 40 individuals with co-
nspiracy to knowingly and intentionally possess with intent to distribute coca-
ine, cocaine base (crack), marijuana, Percocet and Xanax, all within 1,000 feet
of the real property comprising the Columbus Landing Public Housing Project,
all for significant financial gain and profit..."

HOUSE APPOINTS HATCH TO TASK FORCE

From Caribbean Business:

"The House has appointed Sen. Orrin Hatch (R-Utah) to serve as the chair-
man of a bicameral task force charged under the Puerto Rico Oversight, Ma-
nagement and Economic Stability Act (Promesa) with investigating the cau-
ses and possible solutions to Puerto Rico’s debt crisis. The House approved
Hatch’s appointment in a pro forma session Monday afternoon. That session
also formalized the appointments of Reps. Sean Duffy (R-Wis.) and Tom Mac
Arthur (R-N.J.) as the House Republican appointees to the task force. Rep. Ny-
dia Velázquez of New York and Pedro Pierluisi, Puerto Rico’s non-voting rep-
resentative in Congress, are the two House Democratic appointees. In addition
to Hatch, who is chairman of the Senate Finance Committee, Sens. Marco Ru-
bio (R-Fla.), Robert Menendez (D-N.J.) and Bill Nelson (D-Fla.) are members
of the task force..."

POPULAR EARNS $89M IN 2016 2ND QUARTER

From News Is My Business:

"Popular Inc., parent company of Banco Popular, on Tuesday reported net in-
come of $89 million for the quarter ended June 30, 2016, compared to net in-
come of $85 million for the quarter ended March 31,  2016. “We are pleased
to report another solid quarter with strong net income, revenue and credit me-
trics. Also our U.S. operation delivered significant loan growth while mainta-
ining strong credit quality. We are hopeful that recent legislative actions by the
U.S. Congress will be a catalyst in revitalizing Puerto Rico’s economy,” Car-
rión said..."

Puerto Rico News Digest For July 15, 2016

STILL NO DECISION ON MOSQUITO SPRAYING

From The San Juan Daily Star:

"Local health officials are in discussions with federal officials over the advisa-
bility of spraying the insecticide Naled on the island to combat the mosquito-
borne Zika virus, La Fortaleza Chief of Staff Grace Santana said Wednesday.
“After the fumigation with Naled was recommended by the Centers for Dise-
ase Control and Prevention … as the most effective measure to control the A-
edes aegypti mosquito, we have kept up conversations with state and federal
experts on the matter,” Santana said. “It being a public health emergency, we
are responsibly studying the concerns of all the sectors of the country, aiming
to consider all the interests in conflict...”

PIERLUISI APPOINTED TO ECONOMY TASK FORCE

From Caribbean Business:

"Resident Commissioner Pedro Pierluisi announced today that he has been
appointed by House Democratic Leader Nancy Pelosi to the “Congressional
Task Force on Economic Growth in Puerto Rico,” which was established by
Section 409 of Public Law 114-187, the Puerto Rico Oversight, Management,
and Economic Stability Act (Promesa). The Task Force consists of eight mem-
bers of Congress—two Senate Republicans appointed by Senate Majority Lea-
der Mitch McConnell, two Senate Democrats appointed by Senate Democratic
Leader Harry Reid, two House Republicans appointed by House Speaker Paul
Ryan, and two House Democrats appointed by Leader Pelosi. Speaker Ryan will
designate one of the eight members to serve as the chair of the Task Force..."

PR RETAIL SALES DOWN 2%

From News Is My Business:

"Puerto Rico’s retail sales reflected a reduction of $71.5 million, equivalent to
a 2.25 drop when compared to March 2015, Puerto Rico Trade and Export reve-
aled Thursday. Total retail sales in March 2016 totaled $3.10 billion, while in
2015 this figure was $3.17 billion, agency Executive Director Francisco Chév-
ere confirmed..."

PR GIVES AWAY $519M TO SEED CORPORATIONS

From Investigative Reporting Workshop:

"Millionaire enterprises, including Monsanto, Pioneer Hi Bred and nine other
multinational producers of transgenic and hybrid seeds, benefited from over
$519.7 million in Puerto Rican public funds throughout the last 10 fiscal years.
They took advantage of corporate welfare while the country headed toward a
$69 billion debt that cannot be paid to its bondholders, which prompted the en-
forcement of the Fiscal Oversight Board by the U.S. Congress..."

Puerto Rico News Digest For July 13, 2016

200K ZIKA CASES POSSIBLE BY YEAR END

From The San Juan Daily Star:

"The committee created by the Puerto Rico government to confront the Zika
virus reported Monday that more than 200,000 cases of people infected with
the virus could be registered by the end of the year. According to island State
Department Epidemiologist Brenda Rivera, a drastic increase in the pattern of
infection of the virus has been noted in recent weeks. According to the most re-
cent report, an increase of 30 percent in cases have been reported..."

S&P CUTS PRASA DEBT RATING

From Caribbean Business:

"S&P Global Ratings lowered its ratings on Puerto Rico Aqueduct & Sewer
Authority’s (Prasa) series 2008 and 2012 senior-lien revenue bonds two not-
ches to ‘CC’ from ‘CCC-‘. The outlook is negative. At the same time, it low-
ered to ‘D’ from ‘CCC-‘ the rating on Prasa’s obligations that also carry a Co-
mmonwealth of Puerto Rico guarantee, as well as those obligations that are co-
mmonwealth-supported. It removed the ratings from CreditWatch, where they
were placed with  negative implications on Aug. 18, 2015..."

TOURISM BOOKINGS UP 6% THIS SUMMER

From News Is My Business:

"The Puerto Rico Tourism Co.’s fourth annual “Summer is Easy” promotion
is outpacing last summer’s bookings, generating a 6 percent rise in participa-
ting partner room night sales in May and a 7 percent rise in June, versus the
same months in 2015, the agency said Monday. Comparatively, bookings thr-
ough “Summer is Easy” partner Expedia are currently 9.7 percent above 2015
bookings. The promotion highlights how travel to Puerto Rico has never been
easier — no passport is required for U.S. citizens, more than 70 direct flights
from the U.S. to Puerto Rico daily — and how many things there are to do on
the island..."

SAMSUNG PAY NOW AVAILABLE IN PR 

From Banking Technology:

"Samsung Pay will support eligible credit cards from Banco Popular, Puerto
Rico’s largest bank, and will be available on AT&T, T-Mobile, Sprint and Cla-
ro networks in Puerto Rico. The firm says Samsung Pay is the “only” mobile
wallet that allows users to pay with their compatible Samsung smartphones at
terminals, due to both MST (magnetic secure transmission) and NFC (near fie-
ld communications) technologies.Thomas Ko, vice-president and global co-ge-
neral manager of Samsung Pay at Samsung Electronics, says users can shop in
Puerto Rico right from their phones at retail chains and independent businesses..."

Puerto Rico News Digest For June 20, 2016

ROSSELLO TO ASK FOR DECOLONIZATION

From Caribbean Business:

"The president of the New Progressive Party (NPP), Ricardo Rosselló, will 

return Monday to the United Nations to deliver his message in favor of deco-

lonization. “Following the results of the 2012 plebiscite, this forum acquires

more relevance due to Puerto Ricans’ interest in solving the colonial problem.

It is now even more important because the Supreme Court of the United Sta-

tes confirmed the commonwealth has no sovereignty, which has been a decep-

tion, as we have been saying,” the party president said Sunday. In 2013, Rosse-

lló testified before the UN, after delivering to the entity in November 2012 the

results of the referendum in which the statehood option won a majority of votes..."

GROUP BUSINESS UP DESPITE ZIKA

From News Is My Business:

"Puerto Rico’s group business closed off what has come to be known as the

initial Zika period (March to May), “very much open for business,” with 57 

new booked pieces of business including events, conferences, annual meet-

ings and sports activities from now through 2017, Meet Puerto Rico offici-

als said Thursday. This represents a total direct spend of potentially $20.4 

million into the local economy, Milton Segarra, president of Meet Puerto Ri-

co, the Destination Marketing Organization responsible for attracting meeti-

ngs, conventions, trade shows, sporting events and incentive groups to Puer-

to Rico..."

ZIKA CONTRACEPTIVES FAIL TO REACH WOMEN

From Fox News:

"Only a small fraction of contraceptives donated in Puerto Rico to prevent 

Zika-related birth defects are expected to get to the women who need them 

this month, public health officials told Reuters. The donations - tens of thou-

sands of intrauterine devices and birth control pill packs - came from major 

healthcare companies as the virus spreads rapidly through the island. The de-

livery delays illustrate the struggles of Puerto Rico's healthcare system, which 

is faltering amid the commonwealth's financial crisis...

CAR RENTAL TAX GOES FORWARD

From The San Juan Daily Star:

"The island House of Representatives on Thursday approved with a voice
vote the bill to impose a tax of $3.50 per day for the rental of motor vehicles
in Puerto Rico. House Bill 2867, authored by Popular Democratic Party Rep.
Ángel Matos, establishes that the surcharge would be for the first 30 days of
rental and for those who do not have a driver’s license issued by the common-
wealth..."

Renace Condado Town Hall Meeting on Crime

"An opportunity to discuss plans for Crime Prevention. Join in efforts to improve our 
community. Neighborhood groups are welcome to join us!"

https://www.facebook.com/events/884499458340034/

Puerto Rico News Digest For April 18, 2016

COPS SUSPENDED OVER WHEELCHAIR INCIDENT

From The Daily Mail:

"Authorities in Puerto Rico have suspended two police officers after one was
caught on video throwing a man in a wheelchair to the ground while the other
looked on without intervening. Police say Victor Muniz Martinez and Juan Ri-
vera Zayas were notified Saturday of their immediate suspension with intention
to expel them from the force. Police Superintendent Jose Caldero says the offi-
cers could also face criminal charges once the internal investigation has conclu-
ded..."

CAROLINA MAYOR BACKS FISCAL BOARD

From Caribbean Business:

"Carolina Mayor José Carlos Aponte justified the implementation of a
federal fiscal control board on Puerto Rico amid what he called the ine-
fficiency of the commonwealth government in providing solutions to
the island’s problems or in channeling efforts toward economic growth.
“I think controls are needed; I believe the debt must always be paid,” the
mayor said as an aside during the the celebration of Children’s Day in Ca-
rolina. While agreeing with the establishment by the U.S. Congress of “a
regulating entity that intervenes in with the composition, approval and im-
plementation of the budget of Puerto Rico,” the municipality’s leader stre-
ssed that “the central government has failed to solve the island’s fiscal cri-
sis..."

CLARO FINED $155K FOR CRAMMING

From News Is My Business:

"The Puerto Rico Telecommunications Regulatory Board has issued a fine
against carrier Claro de Puerto Rico of more than $155,000 for apparent “cra-
mming” practices in its wireless and bundled Internet services. By definition
“cramming” is the practice of adding unauthorized charges to a customer’s
phone invoice, a practice that is prohibited by both the Federal Communica-
tions Commission’s “Truth-in-Billing” rules and the Puerto Rico Telecommu-
nications Act of 1996..."

PIERLUISI SAYS NO CONFLICT OF INTEREST

From The San Juan Daily Star:

"Resident Commissioner Pedro Pierluisi said a New York Times report about
the income earned by the company owned by his wife María Elena Carrión
since he arrived in Congress will not affect his candidacy for governor of Puer-
to Rico. He said the Times report, which appeared in the April 13 edition of the
STAR, will not affect him in the least because it does not contain complaints a-
gainst him and experts in congressional ethics have found no violation. Pierluisi
denied any conflict of interest between his work and that of his wife, who dedi-
cates herself to advising on financial matters..."

Puerto Rico News Digest For February 23, 2016

FBI MAKES ARRESTS FOR EDUCATION FRAUD

From Caribbean Business:

"The Federal Bureau of Investigation (FBI) was carrying out Tuesday mor-
ning 20 arrest warrants, of which more than 50 percent were conducted, in
relation to fraud in the Puerto Rico Education Department’s tutoring pro-
gram. FBI spokesman Carlos Osorio confirmed it is part of the second pha-
se of the agency’s “Bad Grade” operation, for which, on Sept. 9, 2015, a fe-
deral grand jury returned a 74-count indictment charging Rocket Learning
LLC and 31 individuals with conspiracy to commit mail fraud, mail fraud,
theft of government money and property, and aggravated identity theft..."

366,000 LEAVE PR FROM 2006 TO 2014

From The San Juan Daily Star:

"The net migration of Puerto Ricans to the mainland United States between
2006 and 2014 was around 366,000 people, according to a report issued late
last week by the University of Puerto Rico-Cayey’s Census Information Cen-
ter. Since Puerto Rico’s economic depression began in 2006, some 609,000
people moved from Puerto Rico to the mainland U.S. through 2014, while
243,000 people moved from the U.S. to Puerto Rico, according to Inter News
Service..."

DUNKIN' DONUTS TO OPEN 50 STORES

From News Is My Business:

"Less than two years after a court-ordered shutdown of all of it’s local Dun-
kin’ Donuts stores, Dunkin’ Brands announced Monday it is looking for
a franchisee to re-enter the market to develop 50 restaurants throughout
the island in the next seven years. The Mass.-based coffee and baked goods
chain is looking to recruit a franchisee with experience operating multi-unit
foodservice concepts in Puerto Rico as well as acquiring and developing lo-
cal real estate..."

WRITER ROSARIO FERRE DEAD AT 77

From The New York Times:

"Rosario Ferré, a formidable figure in Puerto Rican letters who wrote no-
vels in both Spanish and English, and who was a finalist for the National
Book Award in 1995 for the family epic “A House on the Lagoon,” which
she translated herself from the original Spanish, died on Thursday at her
home in San Juan, P.R. She was 77. Her son Benigno Trigo said the cause
had not been determined..."

Puerto Rico News Digest For February 11, 2016

RIUS ENCOURAGES CONDOMS FOR ZIKA

From The San Juan Daily Star:

"Health Secretary Ana Ríus insisted Tuesday on the use of condoms to pre-
vent infection by the Zika virus and added that she does not endorse San
Juan Archbishop Roberto González’s comments made earlier in the day re-
jecting the use of contraceptives to prevent the spread of the dangerous vi-
rus. “I am very Catholic, but I have to differ with the Archbishop,” Ríus said.
“You must use condoms and it is recommended  by the Centers for Disease
Control [CDC] and the Health Department that pregnant women use condoms
as well, and any person who has the virus needs to use condoms,” Ríus said
in an interview with Radio Isla..."

NPP SEN. WARNS SANDERS CAMPAIGN OVER SOVEREIGNTY

From Caribbean Business:

"Sen. Carmelo Ríos is warning presidential hopeful Bernie Sanders’ campaign
about the support it is receiving from Puerto Rico sectors of the Popular Demo-
cratic Party (PDP) that seek sovereignty. Specifically, Ríos referred to the en-
dorsements of Rep. Manuel Natal, Rep. Luis Vega Ramos and Sen. Maritere
González, who he said have campaigned and supported legislation against hol-
ding presidential primaries in Puerto Rico. Ríos said he will contact Sanders’
campaign team in Washington to inform it that if it counts on the support of
those PDP sectors, he would campaign with pro-statehooders against his pre-
sidential candidacy..."

RETAIL SALES 3% DROP IN OCTOBER 2015

From News Is My Business:

"Puerto Rico retail sales for the month of October 2015 — the most recent
available from the government — showed a 3 percent drop in comparison to
the same month in 2014, to $3.1 billion. In its latest report, Puerto Rico Trade
and Export confirmed the island’s activity shrank by $96.7 million in October
in comparison to the $3.2 billion on record for October 2014. The establishments
showing the biggest sales drops were gasoline stations (-18.2 percent), jewelry
stores (-5.6 percent), electronics stores (-4.03 percent) and hardware stores
(-3.02 percent), said agency Executive Director Francisco Chévere..."

MAN GOES TO COPS WITH BODY, CONFESSES MURDER 

From Virgin Islands Daily News:

"Authorities in Puerto Rico say a man drove a dead passenger to a police station
and confessed to killing him. Police in the popular tourist town of Rincon said
Wednesday that 28-year-old Juan Gabriel Camacho said he argued with the vic-
tim before allegedly shooting him. Police did not identify the victim but said he
was a 46-year-old government employee..."

Puerto Rico News Digest For November 17, 2015

CIDRE JUMPS INTO 2016 GOVERNOR'S RACE

From The San Juan Daily Star:

"Businessman Manuel Cidre announced he would run for the governor’s
post as an independent candidate, becoming the second unaffiliated gub-
ernatorial hopeful following attorney Alexandra Lúgaro, who threw her
hat in the ring earlier this year. The founder of Los Cidrines Bakery, a
business he created with his brother Guillermo back in 1978, and the for-
mer president of the Puerto Rico Manufacturers Association, among oth-
er professional organizations, said he aspires to something different from
the traditional political machinery to make Puerto Rico governable again..."

PREPA EXTENDS LISA DONAHUE CONTRACT

From Caribbean Business:

"The Puerto Rico Electric Power Authority (Prepa) has extended its con-
tract with Chief Restructuring Officer Lisa Donahue and her team at Alix
Partners for another four months. Donahue and AlixPartners will be paid
nearly $7.3 million to continue their work in restructuring the utility’s debt
and transforming generation and distribution infrastructure. The contract
was set to expire Nov. 15, and will now stretch until March 15..."

MULTI-AGENCY PREPA INVESTIGATION BROADENS

From Richard Lawless:

"According to confidential sources, the multi-agency investigation into theft
at Puerto Rico’s largest utility, PREPA, has expended to include as many as
thirty-five current and former government officials. In an effort to seek redu-
ced charges, William Rodney Clark, Edwin Rodriquez and Cesar Torres Ma-
rrero have agreed to cooperate with the Puerto Rico U.S. Attorney office. This
cooperation is said to include payment journals, recorded conversations and
other materials."

IBERIA TO RESTART MADRID-PR FLIGHTS

From ATW:

"Iberia will resume flights between Madrid and San Juan, Puerto Rico on May
15, 2016, after a three-year absence on the route. The announcement was made
during the Latin American and Caribbean Air Transport Association (ALTA)
Airline Leaders Forum in San Juan..."

Puerto Rico News Digest For October 28, 2015

GDB WILL NOT RELEASE ANNUAL REPORT OCT. 30

From News Is My Business:

"Puerto Rico Government Development Bank President Melba Acosta
confirmed Tuesday that the agency will not be publishing the Compre-
hensive Annual Financial Report on Oct. 30, as it had announced earlier
this year it would do. Saying that auditing firm KPMG is requiring a
“series of additional tests and revisions” that are delaying the public-
ation, Acosta could not confirm when the document will be ready. The
CAFR comprises government financial statements that representing its
financial condition that complies with the accounting requirements pro-
mulgated by the Governmental Accounting Standards Board. An exter-
nal auditing firm must validate the report prior to its release..."

MIRANDA DEFENDS FISCAL BOARD AS CONSTITUTIONAL

From The San Juan Daily Star:

"Justice Secretary César Miranda on Monday defended the proposed
law that would create the Board for the Supervision of the Fiscal and
Economic Recovery, saying it does not take away powers from the is-
land Legislature and respects the balance of powers among the three
branches of government. “It complies with constitutional provisions
and limits related to the balance between the three branches of govern-
ment,” Miranda said at a hearing of the House Treasury and Govern-
ment committees. Miranda said approval of the legislation is required
to address the crisis facing the island..."

GOV'T HOLDS MEETING WITH CREDITORS' ADVISERS

From Caribbean Business:

"Puerto Rico government officials and its team of external consultants
held Tuesday a “due diligence” meeting with advisers who represent
holders of a majority of the commonwealth’s credits, as the island seeks
to move forward on its plan to strike “a voluntary, consensual” deal to
restructure a large chunk of its $70 billion-plus debt..."

AIR FLAMENCO TO START OPERATING IN ORLANDO

From Ch-Aviation:

"Air Flamenco is planning to open a base in Orlando Kissimee in early
2016 from where it will offer a combination of charter flights to and from
the Caribbean, as well as cargo and commuter services throughout Florida.
According to the GrowthSpotter website, the Puerto Rican carrier's foun-
der Rubén Torres now lives in Kissimmee and has a deal to co-locate to
the airport in partnership with local Fixed Base Operator (FBO), Quantem..."

Puerto Rico News Digest For October 23, 2015

FEDS RAID HOUSING PROJECT

As reported this morning by El Nuevo Dia, federal agents have been
carrying out an operation since early this morning at Los Claveles
public housing project in Trujillo Alto. Agents are serving four sea-
rch warrants from the Immigration and Customs Enforcement agen-
cy (ICE). The operation has to do with drug trafficking and money
laundering, but ICE did not provide much in the way of further de-
tails, other than to say that illegal material was found among the
four apartments that were searched.  

PREPA TO PROPOSE 4 CENT RATE HIKE

From The San Juan Daily Star:

"The Puerto Rico Electric Power Authority (PREPA) plans to sub-
mit a new rate structure calling for a hike of around four cents, sour-
ces inside the utility said. The utility is still working on a study that
will help it decide what would be the appropriate rate. However, the
four-cent hike was the same as proposed by one of the utility’s insu-
rance companies. PREPA Chief Restructuring Offi cer Lisa Donahue
said on Tuesday that with the savings and cuts that have been made
at the utility, it expects to be able to submit a reasonable rate struct-
ure..."

SANDERS & WARREN BLAST VULTURE FUNDS

From News Is My Business:

"The two most prominent progressives in the U.S. Senate urged the
federal government Thursday to help Puerto Rico stand up against
the “vultures” they largely blame for the island’s current fiscal night-
mare. Sen. Bernie Sanders (I-VT), the chief rival of candidate Hilla-
ry Clinton for the 2016 Democratic presidential nomination, took ti-
me out of his packed campaign schedule to engage five witnesses —
including Puerto Rico Gov. Alejandro García-Padilla — who testifi-
ed at a hearing by the Senate Committee on Energy and Natural Re-
sources. Sanders, reeling off a raft of statistics on Puerto Rico’s de-
mographic and fiscal decline, called the island’s 56 percent poverty
rate among children a “human tragedy..."

OBAMA SEEKS BANKRUPTCY FOR PR

From The Chicago Tribune:

"President Barack Obama is pressing for Congress to give Puerto Rico
sweeping powers to reduce its $73 billion debt burden through bank-
ruptcy, escalating administration involvement as the Caribbean island's
access to cash dries up. Puerto Rico would be provided with a form of
bankruptcy protection not now available to American territories. Ad-
ministration officials also called for lawmakers late Wednesday to in-
crease health-care funding for Puerto Rico, extend tax credits to the
poor and put independent oversight in place to monitor the govern-
ment's budget..."

POPULAR POSTS $84.7 MILLION PROFIT

From Caribbean Business:

"Popular Inc. on Friday reported third-quarter net income of $84.7 mi-
llion. The Hato Rey, Puerto Rico-based bank said it had earnings of 82
cents per share. Earnings, adjusted for one-time gains and costs, were
90 cents per share. The a company that runs Banco Popular and other
banks in Puerto Rico and the U.S. posted revenue of $481.8 million in
the period..."

Puerto Rico News Digest For October 19, 2015

GOV'T OFFICIALS GO BEFORE GRAND JURY

From The San Juan Daily Star:

"La Fortaleza Public Aff airs Secretary Jesús Manuel Ortiz said he
and former La Fortaleza Chief of Staff Ingrid Vila were summoned
to appear before a federal grand jury, but he stressed that Gov. Ale-
jandro García Padilla has not been cited in relation to a probe into
alleged contracts given to a huge Popular Democratic Party (PDP)
donor. The STAR learned that House Speaker Jaime Perelló was al-
so summoned, but his office did not confirm the information. Also
cited was PDP Sen. Mari Tere González, who said federal officials
requested certain information from her that she declined to divulge.
Federal officials are allegedly investigating contracts awarded to
Anaudy Hernández Pérez, who testified in the corruption case aga-
inst former judge Manuel Acevedo..."

RESERVOIR LEVELS RISE OVER WEEKEND

Rains over the weekend boosted the water levels for several reser-
voirs across Puerto Rico. La Plata, the only reservoir which is still
under a water rationing plan, saw its level increase by 39 centime-
ters to 40.58 meters. La Plata, which serves much of the San Juan
metro area, would have to reach at least 43 meters for rationing to
be discontinued.

PR BOXER IN CRITICAL CONDITION IN VIRGINIA

From Caribbean Business:

"Boxer Prichard Colón was in critical condition Sunday after suffe-
ring a brain bleed from an injury during a bout in northern Virginia,
an official said. Colón underwent surgery to relieve pressure on his
brain after his bout Saturday afternoon against Terrel Williams in the
Washington, D.C., suburb of Fairfax, Virginia, said Lou DiBella, pre-
sident of DiBella Entertainment. Within moments of showing symp-
toms in his dressing room after the fight, Colón was under the care
of emergency medical technicians and rushed to Inova Fairfax hos-
pital, DiBella said. "He suffered a brain bleed as a result of an inju-
ry during the bout and underwent immediate surgery to relieve pre-
ssure on his brain," DiBella said in a statement. "His condition re-
mains critical..."

HYATT HOUSE BEATS 1ST YEAR EXPECTATIONS

From News Is My Business:

"With prolonged and recurrent stays, the guests of Hyatt House San
Juan, located at the Convention Center District in Miramar, have pro-
pel the propert to surpass its first-year expectations, Francisco Maria-
ni, manager of Hyatt Puerto Rico said. The opening of the Hyatt Hou-
se San Juan in October 2014, introduced the tourist market to the first
and only hotel, with a select style, that offers deals in extended-stay
in Puerto Rico..."

Puerto Rico News Digest For September 21, 2015

CARRAIZO WATER RATIONING ENDS

Alberto Lázaro, the President of Puerto Rico's water utility (AAA), has
announced that due to increases in the water level at the Carraízo reser-
voir, water rationing for users served by Carraízo is ending today, Mon-
day. Residents of Trujillo Alto, Carolina and parts of San Juan, Gurabo
and Canóvanas will no longer have to deal with water cut-offs, although
water pressure will be controlled as a precautionary measure. Starting at
9:00 AM today, service is being reestablished in full for all areas served
by Carraízo. La Plata, the other reservoir that serves the San Juan metro
area, is still under a rationing plan, despite some recent gains in the water
levels. In the Carraízo zones, fines for water misuse are still in effect, and
Lázaro discouraged users from watering lawns or washing cars. He also
indicated that the reservoir has enough water to avoid more rationing for
about three months.

TREASURY: MONEY TO RUN OUT IN 6 WEEKS

From The San Juan Daily Star:

Describing the government as “an old car that doesn’t get good mileage
and is running with barely any gasoline,”Treasury Secretary Juan Zara-
goza said Thursday that in all likelihood, in about one month and a half
government coffers will run out of cash. The situation is such that the
Treasury chief said in a radio interview  that “this a chronicle of a death
foretold.” Zaragoza made his co- mments after the government’s liquidity
problems came into sharper  focus in an analysis drafted by Conway Mac
Kenzie (CM), which sets out that the government will have an overdraft
of $765 million by November.

NSF AWARDS $3.8M TO UPR MEDICAL SCIENCES

From Caribbean Business:

The Medical Sciences Campus of the University of Puerto Rico (UPR) has
received a $3.8 million grant from the National Science Foundation (NSF)
for an international collaboration studying the neural mechanism of deci-
sion-making. The NSF funds are from its Partnerships for International Re-
search and Education (PIRE) program, which supports international activi-
ties across various disciplines. The program's primary goal is to support
projects in which advances in research and education could not occur with-
out international collaboration. PIRE focuses on investment in Science, En-
gineering and Education for Sustainability (SEES) to approach the challenges
of adapting to environmental, social and cultural changes associated with gro-
wth and development of human populations, and attaining a sustainable ener-
gy future, according to the NSF.

KIVA ZIP OFFERS 0% LOANS TO PR BUSINESSES

From News Is My Business:

Entrepreneurs looking to finance their ventures have the opportunity to
borrow from Kiva Zip, a technological platform that connects individuals
and businesses to provide loans at 0 percent interest. “The Foundation
for Puerto Rico, a local organization that works with Kiva.org and promo-
tes the visitor economy as a way to position Puerto Rico as a global des-
tination, has created a seed fund of $ 10,000 to match each dollar loaned
to a local entrepreneur through Kiva Zip,” said Denisse Rodríguez, pro-
gram manager of the Foundation for Puerto Rico. Kiva Zip, program of the
nonprofit Kiva.org, has the purpose of connecting individuals and organi-
zations through the Internet, to grant microloans directly to entreprene-
urs to facilitate and expand their opportunities through the financing of
their business, reduce capital costs and make a positive impact in society.

PREPA AT ODDS WITH INSURERS OVER DEBT

From Bloomberg:

The debt-restructuring agreement Puerto Rico’s main electric utility unvei-
led with great fanfare at the start of the month is turning out to be far from
a done deal. The Puerto Rico Electric Power Authority, known as Prepa,
still needs to come to terms with about two-thirds of creditors, including
bond-insurance companies, or the agreement falls apart. An accord that
keeps the negotiations out of court expires late Friday. All forbearing cre-
ditors except insurer MBIA Inc. are part of that contract, called a forbear-
ance agreement. “They still have to do quite a bit of work,” said Mikhail
Foux, a municipal-debt strategist at Barclays Plc in New York. “They have
only about a third of the people on board. We’re talking about monolines
and bond funds that effectively bought at par.”

Puerto Rico News Digest For August 10, 2015

FIRST DAY OF SCHOOL UNDER RATIONING

Classes started in public schools all over Puerto Rico this morning in
the wake of an announcement by Education Secretary Rafael Román
that schools in areas affected by water rationing will have a shortened
schoolday. Students in 476 schools affected by rationing will only att-
end class from Monday to Thursday from 8:00 AM to 1:15 PM. Some
of the schools involved actually have running water, but it was deci-
ded to include them in the new schedule to avoid problems with coor-
dinating transportation among schools that are in the same municipa-
lity. Schools in the following municipalities will operate under the sh-
ortened schedule: Bayamón, Naranjito, Corozal, Toa Baja, Toa Alta,
Cataño, Caguas, Salinas, Coamo, Canóvanas, Juncos, Loíza, Río Gra-
nde, San Juan, Carolina, Trujillo Alto and Guaynabo. Also included
are Pablo Suárez Ortiz School in Luquillo, Emilio Casas in Santa Isa-
bel, Alfonso López O’Neill in Aguas Buenas and Jaguas in Gurabo.
Román added that only 25 percent of schools will offer breakfast to
students.

AGP COULD FACE REELECTION CHALLENGE

From The San Juan Daily Star:

Although Popular Democratic Party Secretary General Jorge Colberg
recently dismissed the possibility that Gov. Alejandro Garcia Padilla
could be challenged for reelection in a primary, Isabela Mayor Carlos
Delgado Altieri said otherwise on Thursday. Delgado Altieri said the-
re could be primaries in the PDP for the gubernatorial nomination be-
cause of the lack of communication between Garcia Padilla and the
rest of the party’s organs. The STAR learned that the mayors of San
Juan, Carolina and Caguas are trying to topple Garcia Padilla and will
be searching for an alternate candidate.

PR GETS $10 MILLION TO FIGHT DRUGS

From Caribbean Business:

Puerto Rico's representative in Congress says the U.S. territory is slated
to receive $10 million in federal funds to help fight drug trafficking, boo-
st security and respond to natural disasters.Pedro Pierluisi said Saturday
the Federal Emergency Management Agency will allocate the money un-
der four separate grants.

RETAIL ACTIVITY PICKING UP

From News Is My Business:

Retail activity is picking up at several local malls, with new store open-
ings in San Juan, Caguas, Ponce and Barceloneta next month, this media
outlet confirmed. One of the retailers expanding will be Bath & Body
Works, which will open two new stores in Plaza del Caribe in  Ponce
and Las Catalinas Mall in Caguas, on Sept. 22 and Oct. 20, respectively,
store officials confirmed. Meanwhile, The Mall of San Juan will receive
seven new tenants in coming weeks, several of which are new to the mar-
ket.

Puerto Rico News Digest For June 29, 2015

GOVERNOR: PR DEBT 'NOT PAYABLE'

Extreme Measures Considered As PR Hurtles Towards Default

Puerto Rico Governor Alejandro Garcia Padilla told The New York Times in an 
interview published over the weekend that Puerto Rico's $73 billion in public debt
is "not payable". The Governor's admission kicked the financial rumor mill into high
gear, at the same time as a grim report on the island's finances by former IMF econo-
mist Anne Krueger was released to the public. Padilla's administration has been in talks
with the US Treasury Department as well as with creditors and banks, in a desperate
attempt to find alternatives to stem the crisis. Padilla  called the island's mayors and
lawmakers to a meeting this afternoon, which the Governor himself will, curiously,
not attend. Several mayors and lawmakers have already warned the Governor not to
present unilateral solutions at the meeting.

The Krueger Report (available to read here) makes several recommendations for
addressing the fiscal emergency. Among them: calls for restructuring the debt, broad
structural reforms, restoring credibility and economic competitiveness, and a fiscal
oversight board. Krueger is also recommending tax increases, massive government
budget cuts and renegotiating the debt. The report also indicates that Puerto Rico's
budget deficit is very likely much larger than the previously reported $3.65 billion.
Prices for stocks of Puerto Rican banks, as well as those of Puerto Rico municipal
bonds, were down sharply this morning as the markets attempt to process this mor-
ning's news.

ESCAPED MONKEYS YET TO BE FOUND

From Caribbean Business:

Authorities say 21 monkeys were set free after someone broke a lock on their en-
closures at a primate research facility. Police say the rhesus macaques were  freed
early Sunday from Toa Baja's Caribbean Primate Research Center on PR-867. Ele-
ven of the freed monkeys were found in the premises and 10 have yet to be found,
although the center's director, Dr. Melween Martínez, believes they will return to
their coral by tomorrow. There have been no arrests.

PR TO HOST ICANN CONFERENCE IN 2016

From News Is My Business:

he Internet Corporation for Assigned Names and Numbers, known as ICANN,
will host its third public meeting of 2016 in Puerto Rico, from Oct. 29 to Nov. 4,
the organization announced late last week. “Based on the proposals and analysis,
ICANN has identified San Juan, Puerto Rico as the location for ICANN 57,” the
nonprofit organization confirmed. ICANN was formed in 1998 to oversee the
Internet’s naming system. The nonprofit has participants from all over the world
dedicated to keeping the Internet secure, stable and interoperable. It promotes
competition and develops policy on the Internet’s unique identifiers.

RATIONING ZONE MAPS FOR CAGUAS, LUQUILLO

Below is an interactive mapS indicating areas around Caguas that are subject
to water rationing, as well as another map showing areas affected areas in Río
Grande, Loíza and Luquillo. Below the maps you can see the water reservoir le-
vels for today.

Puerto Rico News Digest For June 12, 2015

LAWMAKERS HALT VIDEO LOTTERY BILL

From The San Juan Daily Star:

Two of the Popular Democratic Party (PDP) lawmakers who broke rank
with their party to oppose the governor’s original tax reform proposal --
Carlos Vargas and Ángel Matos -- said Wednesday that Treasury Secretary
Juan Zaragoza does not have the legal wherewithal to authorize and imple-
ment the video lottery gaming system. Zaragoza plans to put the system in
place by the first week of July with the goal of generating some $100 million
in revenues. Based on these premises, the lawmakers have filed House Con-
current Resolution 58 in which they “strongly” reject the executive branch’s
claim that the Treasury secretary has the legal power to establish the video
lottery game through regulations.

GOVERNOR AND MCCONNELL DISCUSS BANKRUPTCY

From Caribbean Business:

Gov. Alejandro García Padilla met with U.S. Senate Majority Leader Mitch Mc
Connell, R-Ky., and fellow Sen. Roger Wicker, R-Miss., to discuss approval
of HR 870, the measure submitted to the U.S. Congress that seeks to include
the Puerto Rican government under Chapter 9 provisions of the federal bank-
ruptcy code. In addition, the governor promoted the bill to Senate Judiciary
Committee Chair Chuck Grassley, R-IA.

NEW COMPANY SEEKS TO MARKET LOCAL FOOD

From News Is My Business:

Viandharina, a new agro-industrial company based in Salinas, has opened for
business in the south following a $1.6 million investment in a plant that
seeks to substitute imports of several Puerto Rican food staples, including
sweet and green plantain and breadfruit “tostones.” During a news conference
at the plant located at the former Aguirre sugar plantation, company Presi-
dent René Soto-Torres said the goal is to “cut by 5 percent the importation
of manufactured agricultural products, which mostly come from Central and
South America.” He said close to 2.5 million pounds of frozen “tostones” are
imported monthly, and another $400 million in manufactured agricultural pro-
ducts are imported annually.

NBA STAR BRINGS NEW PRO SOCCER TEAM TO PR

From News West 9:

NBA star Carmelo Anthony announced Thursday that he is bringing a profe-
ssional soccer team to Puerto Rico for the first time in three years. The new
club, called Puerto Rico FC, will begin playing in the Division II North Am-
erican Soccer League in fall 2016. "It is an honor for me to bring back soccer
to Puerto Rico, my beloved island, birthplace of my father," Anthony, who
plays for the New York Knicks, said at a news conference in the U.S. territo-
ry. "To the thousands of fans in Puerto Rico that have been waiting for soccer
to come back, I can promise a world-class organization in a world-class league."

SEA TURTLE NESTS AT PEAK NUMBERS

From Fox News Latino:

The number of leatherback sea turtle nests spotted this year on San Juan's
beaches is the highest on record, thanks to monitoring and conservation e-
fforts by hundreds of residents and volunteers along the shores of Puerto
Rico's capital. So far, 22 leatherback nests have been located, compared to
the record 18 found last year, Deborah Feliciano, a leader of the 7 Quillas
community group, told Efe, citing Department of Natural and Environmen-
tal Resources, or DRNA, figures.

Puerto Rico News Digest For June 8, 2015

48-HOUR WATER RATIONING IS HERE

From Caribbean Business:

Puerto Rico Aqueduct and Sewer Authority (Prasa) President Alberto
Lázaro announced Sunday that the water-rationing plan has been ex-
tended to two days for customers supplied by the Sergio Cuevas fil-
tration plant, whose source is the Carraízo dam, as well as the addition
of 2,000 customers in the Carolina area designated as Zone  B. The uti-
lity director said 2,000 customers have been included in  areas of Caro-
lina, which represents 600,000 gallons of water, including Paseo del
Prado, Martín González Industrial Zone, San Fernando Village, Jardi-
nes de San Fernando, Buenaventura, Estancias de Tierra Alta, Puerto
Rico Industrial Park, Veredas del Río, Río Vista and Parque Juliano.

MAN SHOT WHILE DRIVING IN RIO PIEDRAS

As reported this morning by El Nuevo Dia, 49-year-old Carlos Madera
Segarra was shot to death while driving down José Celso Barbosa Ave-
nue in Río Piedras at 2:40 AM Monday morning. The victim was a mar-
keting manager for Caribbean Cinemas, and was well-liked by friends
and colleagues. Segarra was driving a 2006 Honda Civic near the inter-
section of Celso Barbosa and Ramon Lopez Avenue. After being shot,
Segarra struck a traffic light pole and died at the scene. No motive for
the  killing is yet known.

TEACHER'S UNION FIGHTS SCHOOL CLOSINGS

From The San Juan Daily Star:

Teachers Association President Aida Díaz announced Thursday that
the organization that she heads will go to court against the Edu-
cation Department in order to paralyze implementation of the school
closing plan. In a radio interview, Díaz said the Association’s act-
ions respond in particular to the fact that Education excluded school
councils -- which include the teachers,parents, students and the co-
mmunity where the school is located -- from the school consolidation
process. “The Education Department left out the school communities,”
Díaz said. “There was no participation off ered, and those changes
will provoke emotional damages in these communities, because they
see how their link to their school is now disintegrating.”

SUMMIT TO FOCUS ON MEDICAL TOURISM

From News Is My Business:

Puerto Rico is moving quickly to position itself as a leading medical
tourism destination in the Caribbean and Latin America, looking to be-
come the preferred choice of potential patients from the U.S. mainland.
During the first “Caribbean Health Summit” taking place at the Caribe
Hilton Hotel on Thursday, Puerto Rico hospitals and service providers
will present their services and benefits to potential buyers, investors
and healthcare executives interested in the potential of the island as
a destination in this medical market.

PR McDonald's Restaurants Join Union Petition

News Is My Business

Puerto Rican McDonald’s operators have joined a petition by the Service
Employees International Union submitted to the Federal Trade Commi-
ssion Monday to launch an investigation into the franchise sector and issue
recommendations for curbing ”abusive and predatory” practices by fran-
chisors in the $800 billion industry.

José Quijano, a former vice president at McDonald’s Corp. and current
McDonald’s franchisee from Puerto Rico, spoke on behalf of all Puerto Ri-
can McDonald’s operators about how McDonald’s franchisees on the island
collectively lost control of their businesses overnight in 2007 after the com-
pany unilaterally installed the South American investment firm Arcos Dora-
dos as the region’s new franchisor...[CONTINUE READING]

Puerto Rico News Digest For May 18, 2015

CARRAIZO RESERVOIR LEVEL SLIGHTLY UP

After a rainy weekend, the Carraízo reservoir in Trujillo Alto showed
some improvement in its water levels this morning. The reservoir's level
had increased by 64 centimeters Monday morning, with an overall level
of 37.01 meters. This brings Carraízo close to the level it displayed little
over a week ago. Since last Wednesday, the 160,000 water customers
that receive water from Carraízo have been under a 24 hour water ratio-
ning plan. The President of the island's public water company (AAA),
Alberto Lázaro, stated that the higher water level "buys us about six to
eight days", in reference to the possibility of increasing the water ratio-
ning periods to 48 instead of 24 hours.

FINES FOR HIRING UNLICENSED HVAC TECHS

From Caribbean Business:

In an effort to protect consumers from being victims of fraudulent ser-
vices when installing an air-conditioning or refrigeration unit for either
commercial or personal use, a communications campaign wants to deli-
ver an important consumer alert. Any person who contracts the services
of an unlicensed air-conditioning and refrigeration technician to install
refrigeration equipment both for personal or commercial uses will be
fined up to $500. “Many people don’t know that this is an established
law,” informs Antonio Figueroa Rey, president of Colegio de Técnicos
de Refrigeración y Aire Acondicionado de Puerto Rico (CTRAPR), or
Association of Refrigeration and Air Conditioning Technicians.

PREPA CREDITORS PUSH FOR DEAL

From The San Juan Daily Star:

Another group of creditors of the Puerto Rico Electric Power Autho-
rity (PREPA) is pursuing negotiations to shore up the cash-strapped
public corporation, seeking to avoid putting a receiver in charge of
a debt restructuring, the co-founder of a hedge fund that owns some
of the utility’s debt told Bloomberg. But PREPA insists on its own
debt restructuring plan, to be delivered on June 1. “Rather than go
that route, we and other bondholders have put forward a proposal,”
Tom Wagner, the cofounding partner of New York-based hedge-fund
firm Knighthead Capital Management, said in an interview on Bloom-
berg Television. “We are focused on trying to find a capital markets
solution to resolve the problem.”

PR TO LAUNCH INVESTMENT SUMMIT

From Fox News Latino:

Puerto Rico this coming week will try to sell itself to Latin American
and Spanish investors as one of the hemisphere's best locations in which
 to invest, an effort to attract foreign capital to help it pull out of the re-
cession in which it has been mired for almost a decade. To accomplish
that, the island's government has organized the third so-called Puerto
Rico Investment Summit, which on this occasion will focus for two days
on potential investors from Latin America, Spain and the U.S. Hispanic
community. According to figures provided by the Puerto Rican govern-
ment, the Condado Vanderbilt Hotel on Monday will host some 150
potential investors for the summit.

GDB'S LIQUIDITY DOWN TO $1.02B

From News Is My Business:

The Government Development Bank for Puerto Rico released its most
recent liquidity statement late last week, showing a balance of $1.02
billion net as of April 30, representing a drop from the $1.11 billion the
agency reported for the prior month.