Puerto Rico News Digest For March 5, 2015

PROTESTS AGAINST IVA AT CAPITOL

Video: Maria Rivera/YouTube

People from dozens of educational and community organizations are
protesting this morning in front of the Capitol in San Juan against the
proposed 16% Value Added Tax (or IVA, by its Spanish initials).
Schools and colleges have been particularly vocal in their opposition
to the idea of applying the new tax to educational expenses. Governor
Alejandro Garcia Padilla announced last week that the tax proposal
would be ammended to spare private education from the IVA, but
representatives from several organizations opposed to the tax have
expressed skepticism regarding that promise, as reported by El Nuevo
Dia.

DECOLONIZATION PROTEST MAR. 22 IN SAN JUAN

The pro-independence organization Comrades United For The De-
colonization of Puerto Rico ("Compañeros Unidos Para La Desco-
lonizacion de Puerto Rico") will be holding a protest march on
Slavery Abolition Day, March 22nd, at 2:00 PM. The protesters will
demand the release of Puerto Rican "political prisoner" Oscar Lopez
Rivera, as well as the decolonization of the island. The "2nd Oscar-
Mandela March" will start at the Capitol building in Old San Juan
and make its way towards the Federal Court building.

OIL SUPPLIER TO FACE JUSTICE DEPT

From The San Juan Daily Star:

The Special Senate Committee investigating the so-called “oil
cartel” at the Puerto Rico Electric Power Authority (PREPA)
referred Petro West Inc. to the Justice Department on Tuesday
after accusing it of aggravated illegal appropriation for vir-
tually stealing $1.4 million from the public utility.Petro West
is a local company with offices in Mayagüez and Hormigueros
that supplied bunker six fuel to PREPA, but it was not imme-
diately known if they still do. The probe found that the alleged
illegal appropriation took place between 2009 and 2011.

SINGAPORE COMPANY TO OPERATE PONCE PORT

From Fox News Latino:

Portek International, a Singapore-based services company, was
selected to develop infrastructure at Puerto de las Americas in
Ponce, the largest city in southern Puerto Rico, officials said.
"We have carefully evaluated offers from different companies that
showed interest in the project," Secretary of Economic Development
and Commerce Alberto Baco, who serves as chairman of the Puerto
de Ponce Authority board, said.

EMBASSY SUITES BEGINS MAJOR RENOVATION

From News Is My Business:

Embassy Suites hotels in Puerto Rico announced Wednesday the
completion of the first phase of a renovation campaign at the
Isla Verde and Dorado properties. The overhaul included a full
makeover of all 299 suites at the San Juan hotel and bathroom
upgrades in all suites at the Dorado resort. The investment made
to reboot the properties was not disclosed.

Puerto Rico News Digest For January 20, 2015

POLITICAL PRISONER GONZALEZ CLAUDIO BACK IN PR

Photo from: Claridad

From The San Juan Daily Star:

Political prisoner Norberto González Claudio, who was charged
in the 1983 robbery of over $7 million from a Wells Fargo truck,
the largest heist in U.S. history, arrived in Puerto Rico late
last week to the delight of hundreds of pro-independence supporters
after serving time in a Florida prison. González Claudio , 69, was
sentenced in 2012 by Senior U.S. District Judge Alfred V. Covello
in Hartford to 60 months of imprisonment, followed by three years
of supervised release, for his involvement in a 1983 armored truck
robbery in West Hartford, Conn., and for his illegal possession of
a machine gun at the time of his arrest in May 2011.

CHEAP OIL MUDDIES PREPA RECOVERY

From Reuters:

Tumbling oil prices may offer short-term relief to Puerto Rico's
struggling electric power authority PREPA, but could embolden
bondholders and muddy the utility's path to a long-term fix.
Crude's slide may give bondholders more sway in negotiating a
restructuring of the utility because a sharp drop in its fuel
costs gives them less reason to accept reduced debt repayments.
While fixing PREPA is seen as a key step in solving the troubled
island's debt problems, cheaper oil could create the perception
that the power authority may not need a broad, and expensive,
overhaul.

VENEZUELA FOOD COMPANY COMES TO PR

From News Is My Business:

Industrias Alimenticias Alto de San Juan, owned by two Venezuelan
companies, announced Monday plans to manufacture its products in
Puerto Rico.

With an initial investment of $400,000, the company has committed
to the creation of 200 jobs once the project is fully operational.
This is the fourth industrial development project announced by Gov.
Alejandro García-Padilla’s administration during the past two weeks.
The payroll associated with the new jobs reaches about $3 million
annually, Gov. García-Padilla said during the ribbon-cutting at
the plant.

DOM REP POULTRY EXPORTS TO PR SET TO EXPLODE

From Dominican Today:

The Government aims to spur poultry and egg exports to Puerto Rico
to supply of meals to students from that island, Agro Bank adminis-
trator Carlos Segura affirmed Monday.

The official said among the agreements signed by president Danilo
Medina and Puerto Rico governor Alejandro García figure taking
advantage of domestic production, once the country obtains the
required certifications. He said the country’s installed capacity
meets Puerto Rico’s market and can double poultry production,
without expanding current facilities. He said the country currently
produces 15 million chickens and 150 million eggs.