Puerto Rico
John Paulson’s US$1 billion Caribbean empire faces betrayal
IN THE decade since hedge fund billionaire John Paulson took a grand gamble on Puerto Rico, he has faced the wrath of the markets and mother nature.
BlackRock-backed Puerto Rico utility deal would cut debt by 75%
PUERTO Rico’s bankrupt power utility has reached a deal with BlackRock Financial Management and Nuveen Asset Management to slash its debt load by about 75 per cent, even as other creditors have said t...
Puerto Rico’s bad-governance limbo
WASHINGTON, DC – Puerto Rico is part of the United States, but it is not a state. It is a territory (and a commonwealth) with its own constitution, approved by the US Congress. The island is subject t...
Deal reached to cut bankrupt Puerto Rico's debt by US$24b
[BENGALURU] Puerto Rico would shed about US$24 billion of debt and move closer to exiting bankruptcy under an agreement with bondholders announced on Sunday by the US commonwealth's federally-created ...
Puerto Rico announces deal to restructure power authority debt
[SAN JUAN] Puerto Rico's power utility struck a deal with a group of creditors that seeks to allow the bankrupt US commonwealth to restructure more than US$8 billion of bonds, according to an announce...
Blockchain may soon be helping Puerto Rico keep the lights on
[NEW YORK] Solar panels. Batteries. Emergency fossil fuel-fired generators. They've all been deployed across Puerto Rico to help get the lights back on in the months following devastating hurricanes I...
Trump agrees to pick up 90% of Puerto Rico rebuilding costs: aide
[WASHINGTON] President Donald Trump on Thursday agreed to expand the use of disaster aid to rebuild Puerto Rico's power grid and other infrastructure wrecked by Hurricane Maria, a senior White House o...
Innovative funding for catastrophes builds resilience
ESTIMATES of the collective damage caused by Hurricanes Harvey, Irma and Maria are staggering. Together, Harvey and Irma could cost the US government US$200 billion. Maria's costs could add up to US$4...
Trump could push Justice Department into Puerto Rico debt fight
[WILMINGTON, Delaware] After President Donald Trump said Puerto Rico's debt will be wiped out, White House officials rushed to rule out any US bailout of bondholders, who lent the commonwealth about U...
Bad boy of tennis Kyrgios pledges US$50 per ace for stricken Puerto Rico
[BEIJING] He has been bemoaned as the bad boy of tennis but Nick Kyrgios demonstrated his generous side in pledging US$50 for storm-hit Puerto Rico each time he blasts an ace.
