Sunday, February 9, 2014

Recent New York Times articles about Puerto Rico: Economy and Crime Spur New Puerto Rican Exodus | Puerto Rico's Second Cut to Junk Debt | Answer to Puerto Rico's Debt Woes? It's Complicated | Investors Appear to Shrug Off Puerto Rico’s Debt Downgrade | S.&P. Lowers Puerto Rico Debt to Junk Status | $2 Billion Deal in Works for Puerto Rico

Economy and Crime Spur New Puerto Rican Exodus by By LIZETTE ALVAREZ
Sunday February 9th, 2014 at 9:51 AM

NYT > Puerto Rico
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Puerto Rico’s extended woes, including high unemployment and pervasive crime, are causing a worrisome exodus of professionals and middle-class residents to places like Florida and Texas.

Puerto Rico's Second Cut to Junk Debt by By MARY WILLIAMS WALSH
Sunday February 9th, 2014 at 9:51 AM

NYT > Puerto Rico
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The new downgrade was expected to further narrow the island’s room for tight financial maneuvering and has reportedly given rise to discussions with lenders about short-term relief on certain payments.

Answer to Puerto Rico's Debt Woes? It's Complicated by By STEPHEN J. LUBBEN
Sunday February 9th, 2014 at 9:51 AM

NYT > Puerto Rico
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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.

Investors Appear to Shrug Off Puerto Rico’s Debt Downgrade by By MICHAEL CORKERY
Sunday February 9th, 2014 at 9:51 AM

NYT > Puerto Rico
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Analysts and traders said prices of some Puerto Rico bonds traded lower on Wednesday, but therewas no mass selling that might indicate a panic.

S.&P. Lowers Puerto Rico Debt to Junk Status by By MARY WILLIAMS WALSH
Sunday February 9th, 2014 at 9:50 AM

NYT > Puerto Rico
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The move intensified a cash squeeze for the commonwealth, whose financial condition is of outsize importance to the rest of the United States because its debt is widely held by individual investors through mutual funds.

$2 Billion Deal in Works for Puerto Rico by By MICHAEL CORKERY
Sunday February 9th, 2014 at 9:50 AM

NYT > Puerto Rico
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Puerto Rico, battling a financial crisis that includes high unemployment and a crushing debt load, may have to pay interest as high as 10 percent.
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‘Code for America’ fellows to develop gov’t solutions
Sunday February 9th, 2014 at 9:50 AM

News Is My Business
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Op-Ed: Open letter to Puerto Rico’s info tech sector
February 7, 2014
I was recently reading the January 2014 publication “Perspectivas“ from Estudios Técnicos and came across a quote t ...
SME Sales Summit to focus on educating sales forces
February 7, 2014
Recognizing that sales are the engine to move the economy forward, the Puerto Rico Sales and Marketing Association will ...

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Moody's reduce a basura deuda de Puerto Rico
Sunday February 9th, 2014 at 9:49 AM

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La calificación de crédito de Puerto Rico sufrió el viernes su segundo golpe en una semana cuando Moody's Investors Service anunció que había reducido el estatus de su deuda a nivel de basura.

Marc Anthony recibirá el galardón a la excelencia en los premios Lo Nuestro
Sunday February 9th, 2014 at 9:49 AM

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El salsero Marc Anthony será homenajeado con el mayor tributo que otorgan los premios Lo Nuestro, que honrarán su trayectoria como uno de los artistas más exitosos la música latina.

Puerto Rico DJ pleads guilty to sexual exploitation of three minors
Sunday February 9th, 2014 at 9:30 AM

Caribbean News Now!: News From Puerto Rico
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Puerto Rico DJ pleads guilty to sexual exploitation of three minors

January 15, 2014
SAN JUAN, Puerto Rico -- A former disc jockey for area high school parties pleaded guilty on Monday in the District of Puerto Rico to producing child pornography. Eduardo Santiago-Rivera, 45, pleaded guilty before US Magistrate Judge Vélez-Rivé in the District of Puerto Rico to nine counts of...

Puerto Rico authorities seize 78lbs of cocaine inside container from Dominican Republic

January 15, 2014
SAN JUAN, Puerto Rico -- US Customs and Border Protection (CBP) officers in Puerto Rico on Monday seized 78 pounds (35.5 kilos) of cocaine inside a container at the San Juan seaport. During the inspection of containers arriving on the M/V Caribbean Fantasy ferry arriving from Santo Domingo...

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Puerto Rico authorities apprehend 17 Haitian undocumented migrants
Sunday February 9th, 2014 at 9:30 AM

Caribbean News Now!: News From Puerto Rico
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Puerto Rico authorities apprehend 17 Haitian undocumented migrants

January 16, 2014
AGUADILLA, Puerto Rico -- US Customs and Border Protection (CBP) border patrol and air and marine agents apprehended 17 Haitian nationals on Wednesday who had landed on Mona Island on Tuesday. Park Rangers from the Puerto Rico Department of Environmental and Natural Resources...

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Dominican Republic hospitality and tourism highly recognised in
Sunday February 9th, 2014 at 9:30 AM

Caribbean News Now!: News From Puerto Rico
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Puerto Rico must join CELAC, says Venezuela president

January 24, 2014
CARACAS, Venezuela (ACN) -- Venezuelan President Nicolas Maduro said that he will propose the membership of Puerto Rico at the Community of Latin American and Caribbean States (CELAC), whose second summit will be held January 28 and 29 in Havana.

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Old San Juan, Puerto Rico: A Caribbean city rich in charm and culture
Sunday February 9th, 2014 at 9:29 AM

Caribbean News Now!: News From Puerto Rico
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Old San Juan, Puerto Rico: A Caribbean city rich in charm and culture

January 28, 2014
 SAN JUAN, Puerto Rico -- Second in size to only Santo Domingo, San Juan is a big Caribbean city. From the moment your foot touches Puerto Rico's rich, fertile soil, its scale becomes apparent. Three-lane highways surround San Juan's city limits, meandering streets fill dense districts within.

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Puerto Rico governor to introduce balanced budget for fiscal year
Sunday February 9th, 2014 at 9:29 AM

Caribbean News Now!: News From Puerto Rico
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Puerto Rico governor to introduce balanced budget for fiscal year 2014-15

February 4, 2014
 SAN JUAN, Puerto Rico -- Ingrid Vila Biaggi, chief of staff to Puerto Rico Governor Alejandro Garcia Padilla, announced on Monday that a balanced budget for the 2014-2015 fiscal year will be introduced in the coming weeks. This follows more than a year of fiscal reforms, including reforms to three of...

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Puerto Rico credit rating downgraded to 'speculative'
Sunday February 9th, 2014 at 9:29 AM

Caribbean News Now!: News From Puerto Rico
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Puerto Rico credit rating downgraded to 'speculative'

February 5, 2014
NEW YORK, USA -- Standard & Poor's Ratings Services (S&P) has lowered its rating on Puerto Rico's general obligation (GO) debt to 'BB+' (non-investment grade/speculative) from 'BBB-'. At the same time, S&P downgraded Commonwealth appropriation secured debt and Employee...

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This Week Top Story: Puerto Rico weighs options to borrow up to $2 billion. Read... by CARIBBEAN BUSINESS
Sunday February 9th, 2014 at 9:28 AM

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This Week Top Story: Puerto Rico weighs options to borrow up to $2 billion. Read: http://goo.gl/yor3Zt#caribbeanbusiness

Find all your movies and theaters information in the same place: http://ow.ly/pU... by CARIBBEAN BUSINESS
Sunday February 9th, 2014 at 9:28 AM

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Find all your movies and theaters information in the same place: http://ow.ly/pUR7e#caribbeanbusiness. With Amnellys Rivera Soto

Saturday, February 8th, 2014
Sunday February 9th, 2014 at 9:28 AM

Caribbean Business
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Saturday, February 8th, 2014
UPR tightening belt in wake of downgrade
The University of Puerto Rico system is tightening its belt after it credit ...
Issued: February 7, 2014
Puerto Rico tourism industry representatives spoke out Friday against proposals to blunt the legislated reform of the teacher pension system ...
Rodriguez accepts season-long suspension
Issued: February 7, 2014
NEW YORK — Alex Rodriguez ended his extended and acrimonious fight with Major League Baseball on Friday, withdrawing a pair of lawsuits and ...
Sen. Wyden gives tax overhaul top priority
Issued: February 7, 2014
Sen. Ron Wyden, the incoming chairman of the Senate Finance Committee, said Friday his first priority in the job will be overhauling the nat ...

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HTA mulls Urban Train cuts, property sales
Sunday February 9th, 2014 at 9:27 AM

Caribbean Business
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HTA mulls Urban Train cuts, property sales
Issued: February 8, 2014
Puerto Rico’s Highways & Transportation Authority is considering dramat ...
Issued: February 8, 2014
SAN GERMAN, Puerto Rico — Maxi Fajardo smiles as she recalls moving to New ...
PR probes church sex abuse allegations
Issued: February 8, 2014
Prosecutors in Puerto Rico are investigating six priests who face sex abuse ...
Evidence continues to mount that Puerto Rico is poised to post a 13-straight monthly contraction in the island economy on a year-over-year b ...
San Juan Mayor Carmen Yulín Cruz is signaling that an expansion of Puerto Rico’s powers in the international arena is needed to improve the ...
Casellas pleads not guilty in federal case
Convicted killer Pablo Casellas pleaded not guilty Friday to federal charges that he lied to investigators about an alleged carjacking that ...
The heroin mill next door: NYC dealers blend in
Issued: February 8, 2014
NEW YORK — In a major drug bust that drew little attention just a week before Philip Seymour Hoffman's death, authorities found a sophis ...
What's for dinner? The farm bill has a big impact
Issued: February 8, 2014
WASHINGTON — Look no further than your dinner plate to understand how the new farm bill affects you.
Iran sending warships close to US borders
Issued: February 8, 2014
TEHRAN, Iran — A senior Iranian naval commander says his country has sent several warships to the Atlantic Ocean, close to U.S. maritime bor ...
Media sometimes try, fail to keep NSA's secrets
Issued: February 8, 2014
LONDON — News organizations publishing leaked National Security Agency documents have inadvertently disclosed the names of at least six inte ...
Spain princess testifies in historic fraud probe
Issued: February 8, 2014
PALMA DE MALLORCA, Spain — Spain's Princess Cristina headed into court Saturday to testify in a historic judicial hearing aimed at helpi ...

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Elections in El Salvador, Costa Rica appear headed for runoffs - Dalje.com
Sunday February 9th, 2014 at 9:26 AM

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Elections in El Salvador, Costa Rica appear headed for runoffs
Dalje.com
11, 2001, attacks on the United States in which U.S. flags were burned, and favors the Venezuelan-led ALBA trade bloc, which could create potential tension with the United States. Sanchez Ceren also has said he favors using the army to combat violent ...

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Russia is desperate to get her hands on Latin America: "Strong Latin America is an obstacle for the U.S. and EU, but it needs Russia..." - says "Pravda"

M.N.: This article shows very clearly Russian "experts" thinking and design: to grab, subvert and subordinate the Latin America by economic and political means and to use it as a weapon in geopolitical struggle with the US. Do not be fooled by their "cultural overtures" and sweet talk, behind it is a vicious and determined snake which wants to make the alliances with the local snakes under the guises of "nationalism" and "national liberation" and simply to use these sentiments and movements for their own purposes and advancement, just like they always did for more than past half a century. They do not care about you, they just want to use you, as they want to use anyone and in any ways if it helps them to put their shoe in and to advance their own geopolitical agenda. So keep your eyes open and guard your freedom. 

Latin America and Russia need each other desperately
Sunday February 9th, 2014 at 9:01 AM

English Pravda.Ru
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"There is hope of agreements between the Customs Union and MERCOSUR about a free trade area (FTA) this year," Henry Machuca, a coordinator of the United Socialist Party of Venezuela and the project "Diplomacy of peoples" said in a live broadcast of Pravda.Ru. Strong Latin America is an obstacle for the U.S. and EU, but it needs Russia, so why there is no close collaboration?
In the beginning of the broadcast Machuca outlined the situation in Venezuela. "The political situation in the country has stabilized after the PSUV won the municipal elections in November. It was a serious blow for the opposition party. Its leader Henrique Capriles will not act "directly" now, but it is temporary. "This is a man who follows the liberal model and he will not build a new Venezuela similar to Chavez. We cannot expect serious answers from him," said Machuca. He called President Nicolas Maduro a "real people's president" and said that he continued the line of Hugo Chavez to build a welfare state. "Earlier, social allocations were very small - five to six percent of GDP, but now they make up 52 percent."Machuca also noted that the president began a campaign against drug trafficking from neighboring Colombia. A law allowing shooting down aircraft that violated the airspace of Venezuela was adopted.
Despite the successes, the Western media is constantly attacking the financial, monetary economic policies of Venezuela, "because neither the U.S. nor Europe needs strong Venezuela and Latin America." However, they do not have strong leverage. "We will continue our independent course and will not ask for the help of the International Monetary Fund that was paid all debts of Venezuela by Chavez," said the activist.
Speaking about Latin America, and continuing the theme of the fight against drug trafficking, Machuca said that the continent was fighting drug trafficking through very unconventional methods. For example, Uruguay adopted a law legalizing marijuana. "I believe that this experience may prove positive," said the activist. He explained that in Bolivia, coca leaf is consumed like tea in Russia.
Latin America consists of 33 countries and each has an independent policy, said the activist. They are united in CELAC (Community of Latin American and Caribbean States), where the United States and Canada were not invited. Machuca mentioned that the northern partners did not appreciate it. Second regional structure - is MERCOSUR (Argentina, Brazil, Uruguay, Paraguay, and Venezuela), and the third one is the newly created Pacific Alliance (PA - Chile, Colombia, Mexico and Peru). Here we see a confrontation of Bolivarianism and liberalism. "MERCOSUR countries are not only establishing trade relations, but also helping each other in the field of education and health care, while the Alliance is pragmatically engaged only in trade." The main idea of Bolivarianism is a strong integration. If this happens, 20 years from now MERCOSUR will be a third or fourth economy in the world, said Machuca. In this regard, after the victory of the left president in Chile (Michelle Bachelet) the problem of combining the two blocks may be solved, and it will make Latin America more competitive. Ecuador and Bolivia have begun the process of the entry into MERCOSUR, and "if we (MERCOSUR and PA) reach an agreement on free trade by the end of the year, it will be wonderful."
A special role in the region belongs to Brazil that is part of the BRICS. It is interesting that the "inventor" of the block, Jim O'Neill, is now promoting a new one, MINT (Mexico, Indonesia, Nigeria and Turkey). The expert talks about Mexico as a new force in Latin America and is no longer talking about Brazil.
According to Machuca, "this is a picture created by the U.S. and its counterparts in order to reduce the influence of Brazil on our continent, whose role is growing not only in the region but also in the world." Speaking of Mexico, the party leader said that the country "three years ago officially decided to turn towards Latin America. The authorities realized that the FTA they created with the U.S. and Canada (NAFTA) was not that beneficial." For example, when Mexican tomato producers began crowding the American market, the U.S. came up with a new tax and inflated the price for Mexican goods. However, the president of Mexico is not very supportive of the rest of Latin America and "we'll just have to wait."
One of the most important partners of Venezuela that shares the ideas of Bolivar is Nicaragua. The country is included in ALBA block (Venezuela, Ecuador, Bolivia and several Caribbean countries). Nicaragua starts construction of a canal next year. China will finance the construction, and the project cost will amount to $40 billion. According to Machuca, Panama will not suffer from the competition "because trade is growing at a pace that would make both canals operate at full capacity." Among other integration projects the activist noted the work of Cuban doctors in Brazil, Ecuador, Bolivia, and Venezuela. "In Cuba, a vaccine against cancer was recently created. Cuban medicine was built with Soviet assistance, many speak Russian there," said Machuca.
One of the serious problems in the relations between Russia and the countries of Latin America is the lack of full information about each other, the activist said. There is a lot of potential. Russia's image in Latin America is "quite positive," it could be better, and the converse statement is also true. "We're trying, for example, to develop relations with Russia, but there is not enough information," Machuca said. "I do not understand why Russia does not sell cars to Venezuela when we have a shortage of cars. I think that Russian businessmen are not aware of our problems," he added. Even in terms of VAZ vehicles, Venezuela could buy 10,000 cars a year, and Brazil that 15 years ago bought 30,000 VAZ units could return to this type of cooperation. Venezuela is the second largest buyer of Russian arms. The turnover between Russia and Brazil increased tenfold over the past ten years, from 1.4 billion in 1992 to 16 billion in 2013.
"Can you imagine the change in our relationship if customs duties are abolished? There is hope that agreements on a free trade area (FTA) may be reached this year," Machuca told Pravda.Ru.
Lyuba Lulko
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