Puerto Rico
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Why Puerto Rican Statehood Matters So Much Right Now

Why Puerto Rican Statehood Matters So Much Right Now | Puerto Rico | Scoop.it
Six words: the ability to file for bankruptcy.
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NY Fed: Puerto Rico Should Seek Economic Reforms

NY Fed: Puerto Rico Should Seek Economic Reforms | Puerto Rico | Scoop.it
New York's Federal Reserve Bank warned on Thursday that Puerto Rico needs to improve its financial health soon or face a "painful adjustment." The report came as the island's power company once again reached an agreement with lenders to extend a deadline to make payments on $671 million it...
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Puerto Rico wants to diversify its economy, official says

Puerto Rico wants to diversify its economy, official says | Puerto Rico | Scoop.it

#Puerto Rico's secretary of economic development and trade, Alberto Baco Bague, said in an interview with Efe here that the island wants to move toward a more balanced and diversified economy with more weight on services, tourism and agriculture after its heretofore total dependence on the manufacturing sector.

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Lufthansa Technik to Build Facility in Puerto Rico

Lufthansa Technik to Build Facility in Puerto Rico | Puerto Rico | Scoop.it
German company Lufthansa Technik announced Thursday that it had signed a deal with Puerto Rico's government to build a facility for aviation maintenance, repair and overhaul in the U.S. territory. The facility will be based at the Rafael Hernandez International Airport in the northwest town...
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Puerto Rican Wants Same-Sex Marriages Recognized

A Puerto Rico attorney who married her longtime partner on the U.S. mainland has filed a federal lawsuit seeking to have their marriage recognized in her home territory. The lawsuit comes as the debate on gay rights intensifies in Puerto Rico, where legislators and religious groups have...
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Puerto Rico bonds do the unexpected: Rally

Puerto Rico bonds do the unexpected: Rally | Puerto Rico | Scoop.it
WASHINGTON, Feb 26 (Reuters) - The $3.7 trillion U.S.municipal bond market has been stunned by what would have beenunthinkable a few months ago: Puerto Rico debt is rallying.Credit spreads on the troubled
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Puerto Rico’s potential statehood must clear partisan hurdles - Marianela Toledo

Puerto Rico’s potential statehood must clear partisan hurdles - Marianela Toledo | Puerto Rico | Scoop.it
By Marianela Toledo | Florida Watchdog

MIAMI — A movement is afoot in the U.S. Senate that would make Puerto Rico the 51st state, but the legislation has plenty of high partisan hurdles to clear..02/18/2014 9:04:08AM EST.
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Puerto Rico to See Resolution Soon

Puerto Rico to See Resolution Soon | Puerto Rico | Scoop.it
Sterne Agee sees an investment-grade issuance of debt, among other things.
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$2 Billion Deal in Works for Puerto Rico

$2 Billion Deal in Works for Puerto Rico | Puerto Rico | Scoop.it
Puerto Rico, a United States territory, is battling a financial crisis that includes high unemployment and a crushing debt load.
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The scary thing about Puerto Rico’s population: It’s leaving the island for good

The scary thing about Puerto Rico’s population: It’s leaving the island for good | Puerto Rico | Scoop.it
Times are tough in Puerto Rico. The financial crisis has left the island buried in $70 billion in debt, and it's on the verge of seeing its bonds downgraded to junk. It's people are also leaving the island at a near record rate.
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Puerto Rico to host international aerospace and aviation fair

Puerto Rico to host international aerospace and aviation fair | Puerto Rico | Scoop.it
Representatives of hundreds of leading companies will participate on Oct. 30 in the 2016 America's Aerospace Summit in San Juan, seeking and offering business opportunities on the Caribbean island, organizing committee president Arnaldo Soto said.
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Puerto Rico Declares Chikungunya Epidemic

Puerto Rico Declares Chikungunya Epidemic | Puerto Rico | Scoop.it
Health officials in Puerto Rico on Thursday declared an epidemic of the mosquito-borne virus known as chikungunya, which was introduced into the Caribbean region late last year. Health Secretary Ana Rius said that more than 200 cases had been confirmed on the island as of June 25 and that...
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Puerto Rico Unveils 1st Balanced Budget in Years

Puerto Rico Unveils 1st Balanced Budget in Years | Puerto Rico | Scoop.it
Puerto Rico's governor on Tuesday presented the territory's first balanced budget in more than a decade, fulfilling a promise to cut spending at a time when the island's economic problems have spread fear among U.S. investors. Gov. Alejandro Garcia Padilla proposed more than $1.4 billion in...
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Study: Puerto Rico is ideal site for high-tech ventures

Study: Puerto Rico is ideal site for high-tech ventures | Puerto Rico | Scoop.it
Puerto Rico is a hospitable place when it comes to protecting intellectual property (IP) rights, which coupled with incentives and favorable business conditions, make the island an attractive place to set up and expand high-tech firms, a study commissioned by Microsoft Corp. conducted by “The Economist” revealed Monday.
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Census Reveals Population Drop Across Puerto Rico

Census Reveals Population Drop Across Puerto Rico | Puerto Rico | Scoop.it
New U.S. Census numbers released Thursday show that Puerto Rico's population is dropping as the U.S. territory struggles to retain people during an economic recession. The island's total population fell from about 3.7 million in 2010 to 3.6 million in 2013, with the biggest drops occurring...
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Puerto Rico legislature clears way for crucial bond issue

Puerto Rico legislature clears way for crucial bond issue | Puerto Rico | Scoop.it
SAN JUAN, March 3 (Reuters) - Puerto Rico's legislature onMonday approved government plans to raise up to $3.5 billion ingeneral obligation bonds, clearing the way for a sale as soon asthis week.Government
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Puerto Rico Plans $2.86 Billion Offering for 16 Months of Cash

Puerto Rico Plans $2.86 Billion Offering for 16 Months of Cash | Puerto Rico | Scoop.it
Puerto Rico is planning to offer about $2.86 billion of general-obligation bonds next month, providing the island with sufficient liquidity through June 2015, Government Development Bank officials said.
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Financial Crisis: Corporations Complain About Puerto Rico Taxes They Don't Even Have to Pay

Financial Crisis: Corporations Complain About Puerto Rico Taxes They Don't Even Have to Pay | Puerto Rico | Scoop.it

January 30, 2014 — According to Steptoe & Johnson and the Puerto Rican government, the burden on U.S. companies would be minimal because the new tax paid by U.S. multinationals to Puerto Rico would reduce U.S. taxes by the same amount. For income tax purposes, Puerto Rico is considered a foreign jurisdiction, and foreign taxes can be creditable against U.S. tax. So in effect, the new tax would be paid by the U.S. treasury, not U.S. companies.

 

According to Martin Sullivan's article "The Obama Administration’s Backdoor Bailout of Puerto Rico" published in Forbes: "A lot of powerful interests like the current situation. They include the government and both major political parties in Puerto Rico, the Obama administration, investors in Puerto Rico’s municipal bonds, and U.S. multinationals that can credit the tax. The only ones on the short end of the stick are U.S. taxpayers, who are footing the bill that they would probably be unwilling to pay if they were ever asked."

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Answer to Puerto Rico's Debt Woes? It's Complicated

Answer to Puerto Rico's Debt Woes? It's Complicated | Puerto Rico | Scoop.it
Puerto Rico is in a jam, writes Stephen J. Lubben. It is not considered a state, which means it can’t resort to bankruptcy to deal with its debt problems. Nor is it a sovereign nation, which means it can’t rely on sovereign immunity.
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Wall Street's Vultures Are Circling Puerto Rico's Bond Market

Wall Street's Vultures Are Circling Puerto Rico's Bond Market | Puerto Rico | Scoop.it
The vulture hedge funds are circling Puerto Rico’s $70 billion municipal bond market and are about to swoop.
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Rita Moreno to be first Latina to get SAG Life Achievement Award

Rita Moreno to be first Latina to get SAG Life Achievement Award | Puerto Rico | Scoop.it
When Rita Moreno received a call last summer from SAG-AFTRA Co-President Ken Howard, her first thought was that something was wrong. (¡ORGULLO BORICUA!
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