Puerto Rico

Puerto Rico Gov. Alejandro García Padilla has not yet decided whether he will sign oil tax rise legislation approved by the legislature that would support the Puerto Rico Highways and Transportation Authority.

Net revenues of the Puerto Rico Aqueduct and Sewer Authority came in 6.7% ahead of budget in the first quarter of fiscal 2015.

Puerto Rico's Senate approved tax hikes on imported oil Wednesday evening, taking Puerto Rico another step towards issuing a $2.9 billion bond.

The House on Wednesday passed a bill that would extend through the end of the year expired tax provisions known as "extenders," several of which relate to bonds, state and local taxes and Puerto Rico.

On Wednesday morning the FBI arrested an official in the Puerto Rico Highways and Transportation Authority.

The Puerto Rico House of Representatives is expected to approve a hike on imported oil Tuesday for the Puerto Rico Highways and Transportation Authority.

On Tuesday morning several Federal Bureau of Investigation agents raided the headquarters of the Puerto Rico Aqueduct and Sewer Authority.

Puerto Rico's governor said today that unless oil tax increases pass in the next few days, he would order San Juan's public transit closed on Dec. 1.

Puerto Rico's unemployment rated declined to 14.0% in October from 14.1% in September, a sliver of hope for Puerto Rico's struggling economy.

Puerto Rico lawmakers are wrangling with Gov. Alejandro García Padilla over ways to boost the finances of the Puerto Rico Highways and Transportation Authority after the governor's plan to raise oil taxes reportedly ran into opposition.

The cash balance of the Puerto Rico Electric Power Authority declined 54% to Sept. 30 from June 30.

In a bid to boost its sagging economy, Puerto Rico is contemplating its biggest tax overhaul in decades.

Puerto Rico's net General Fund revenues came in 1% above expectations in October.

Puerto Rico's government announced a joint venture expected to create 500 jobs in Puerto Rico in the next three years.

The Puerto Rico Electric Power Authority has cut its November electricity rates by 7.7%, a few days after Puerto Rico indicated that bondholders should expect cuts on bond payments.

A Puerto Rico court affirmed its decision in favor of the Puerto Rico bank Doral Financial Corp., in a setback for the Puerto Rico Treasury.

The Securities and Exchange Commission's enforcement action against 13 dealer firms Monday represents a broad commission effort to correct behavior that was probably due to mistakes by individual traders dealing with an unusual bond issuance, attorneys and market participants said Tuesday.

While Puerto Rico faces fiscal problems that are similar to those of 1970s New York, it's important to note the differences between the two economies as the island commonwealth seeks a solution.

Puerto Rico officials said Thursday that the Puerto Rico Electric Power Authority would default on its bonds but that the Puerto Rico Highways and Transportation Authority would not.

Puerto Rico plans to help its Highways and Transportation Authority through an oil tax increase and the sale of bonds from a new authority.