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Business

Puerto Rico tightens financial oversight of insurance groups as governor enacts reform law

Puerto Rico has overhauled its insurance‑sector regulatory framework with the signing of Law 111‑2026, a measure that imposes new financial‑reporting obligations on insurance companies, expands the supervisory powers of the Office of the Commissioner of Insurance (OCS), and shields key regulatory filings from public disclosure. Governor Jenniffer González Colón signed the legislation this week, positioning […]

Eva Llorens
Oversight Board Blocks Mayors From Collecting Construction Fees on Federal Projects, Warns of Risk to Puerto Rico Funding
Business

Oversight Board Blocks Mayors From Collecting Construction Fees on Federal Projects, Warns of Risk to Puerto Rico Funding

San Juan — The Puerto Rico Fiscal Oversight and Management Board (FOMB) has ordered mayors to halt enforcement of two recently enacted laws that would allow municipalities to collect construction excise taxes on projects funded with federal dollars — warning that the move could jeopardize the island’s standing with Washington as a reliable steward of […]

Caribbean Business Staff
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Business

With “El punto eres tú,” Oriental Rolls Out Campaign Reinforcing Customer‑Centric Banking

Oriental launched today a refreshed brand platform and campaign aimed at sharpening its competitive position in Puerto Rico’s banking sector, where digital adoption, customer expectations, and fintech pressure continue to reshape the market. The campaign, built around the message “El punto eres tú,” is part of the bank’s effort to reposition itself as a digital‑first […]

Eva Llorens
Puerto Rico Unveils New Export Manual at Chamber of Commerce Convention
Business

Puerto Rico Unveils New Export Manual at Chamber of Commerce Convention

The Department of Economic Development and Commerce (DDEC) and the Puerto Rico Chamber of Commerce (CCPR) unveiled a new edition of the Manual de Exportación de Puerto Rico on Wednesday, presenting the guide during the opening day of the Chamber’s annual convention. The publication aims to expand the island’s export capacity by providing businesses with […]

Eva Llorens

Energy & Oil

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Energy & Oil

Genera PR Says Loss of Maintenance Reserve Hampers Plant Upkeep; Seeks $16 Million

Genera PR warned the Puerto Rico Energy Bureau (PREB) that the agency’s repeal of the Generation Maintenance Reserve (GMR) has sharply limited its ability to perform basic upkeep across the island’s power plants, prompting the operator to request $16 million in funding drawn from the system’s FY2026 under‑collection. In a filing this week, Genera, the […]

Eva Llorens
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Energy & Oil

Oversight Board Clears Power Expectations Contract After Imposing Strict Revisions

Company Expected to Sign by Next Week The consortium selected to deliver 400 megawatts of temporary power generation at the Aguirre Power Plant—Power Expectations, LLC; Enchanted Rock; and Reyes Contractor, LLC—has cleared the final hurdle set by the Financial Oversight and Management Board after incorporating a series of stringent conditions related to project execution, performance […]

Eva Llorens
Federal Funds to Back Microgrid Projects in Vieques and Culebra to Boost Energy Resilience
Energy & Oil

Federal Funds to Back Microgrid Projects in Vieques and Culebra to Boost Energy Resilience

San Juan — Genera PR announced Friday that the federal government has assigned it the execution of microgrid projects in Vieques and Culebra, aimed at strengthening the energy resilience of both island municipalities during emergencies. The projects will be financed with federal hazard mitigation funds from the Federal Emergency Management Agency and developed under applicable […]

Caribbean Business Staff
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Energy & Oil

Bondholders Appeal Judge Swain’s Denial of Renewed Bid to Lift PREPA Litigation Stay

Two Puerto Rico Electric Power Authority bondholders—GoldenTree Asset Management and Syncora Guarantee—have filed a notice of appeal, challenging U.S. District Judge Laura Taylor Swain’s decision to maintain a litigation stay that has blocked creditors from pursuing key remedies in the power utility’s long‑running bankruptcy. The appeal, filed with the U.S. Court of Appeals for the […]

Eva Llorens
El Salvador’s Bitcoin Reserve Hits 7,672 Coins Worth $487.5 Million as Five-Year Anniversary of Bitcoin Law Approaches
Crypto

El Salvador’s Bitcoin Reserve Hits 7,672 Coins Worth $487.5 Million as Five-Year Anniversary of Bitcoin Law Approaches

San Salvador (EFE) — El Salvador’s strategic bitcoin reserve grew to 7,672 coins as of Thursday, valued at more than $487.5 million, according to official records on the government’s bitcoin.gob.sv portal — just days before the five-year anniversary of the law that made the country the first in the world to adopt bitcoin as legal […]

Caribbean Business Staff
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Crypto

Crypto Clarity Bill clears hurdle in Senate Banking Committee

With a 15 to 9 vote, the Digital Assets Market Clarity Act or Clarity Act cleared the markup session vote at the Senate Banking Committee and is now headed to the full Senate.  While the primary fight between the banking industry and crypto sector was around what type of rewards can crypto exchange platforms offer […]

Maria Soledad
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Crypto

Fight around crypto Clarity Bill heats up

After months in committee, the Senate is poised to consider the Digital Assets Market Clarity Act, or Clarity Act, which seeks to create greater regulation for cryptocurrencies. The Senate Banking Committee announced a markup hearing for today, Thursday, May 14, at 10:30 am with the aim of holding a final debate on the bill and […]

Maria Soledad

Tech & AI

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Tech & AI

XC Technology Partners With Anthropic to Deploy Claude AI Across Mission-Critical Enterprise Systems Worldwide

ASHBURN, Virginia and SAN FRANCISCO— DXC Technology (NYSE: DXC), a leading technology and business innovation partner, today announced a multi-year global alliance with Anthropic, the AI safety company and creator of Claude. Through the partnership, DXC becomes one of a select few Global Premier partners in the Claude Partner Network. Together, the companies will train […]

Caribbean Business Staff
Tim Cook Bids Farewell at WWDC, Says “The Best Is Yet to Come” for Apple
Tech & AI

Tim Cook Bids Farewell at WWDC, Says “The Best Is Yet to Come” for Apple

Nueva York, (EFE).-Tim Cook used his final WWDC keynote as Apple CEO to close out a chapter — and insist the story is far from over. Speaking Monday at Apple’s Worldwide Developers Conference in Cupertino, California, Cook delivered what amounted to a valedictory address, telling the audience that despite everything Apple has built under his […]

Caribbean Business Staff
More Than 5,000 Executives to Convene in Mexico City for Latin America’s Largest AI Business Congress
Tech & AI

More Than 5,000 Executives to Convene in Mexico City for Latin America’s Largest AI Business Congress

Mexico-More than 5,000 executives, innovation leaders, and business decision-makers from across Latin America will gather in Mexico City on June 9–10 for the 11th AI, Technology & Business Congress America Digital México 2026 — the region’s largest annual forum dedicated to the intersection of artificial intelligence and enterprise strategy. Held at the World Trade Center […]

Caribbean Business Staff
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Goverment

IDEA Moves to Streamline Government as Puerto Rico Competes for Investment

Targets Major Efficiency Gains with Tech‑Heavy FY2027 Plan Puerto Rico’s push to digitize government operations is entering a new phase, and the fiscal 2027 budget request for the Iniciativa para la Desreglamentación y Eficiencia Administrativa (IDEA) offers a look at how the administration intends to reshape the island’s public‑services infrastructure. With roughly 75 percent of […]

Eva Llorens