Madagascar Development

But the GOP tax bill could be devastating for some Americans: those living in Puerto Rico. “The tax bill ... could be as damaging to Puerto Rico’s economy as Hurricane Maria was,” wrote Armando Valdés Prieto, a lawyer and political consultant in San Juan, in  an op-ed for the Washington Post . “One of the stated aims of the GOP tax bill is to bring jobs and investment back from foreign jurisdictions. And therein lies the problem,” Prieto said. The “problem” is that the US tax code treats Puerto Rico as a foreign jurisdiction on tax issues. Prieto says he’s worried that could push Puerto Rico’s pharmaceuticals and medical devices industries overseas, devastating the island’s already-struggling economy. For more on why Puerto Rico is considered a foreign jurisdiction on tax issues and what that means for the island listen to an interview with Prieto by listening to the audio, above.  One more thing… PRI takes a global approach to the ne...

Saturday evening was lively in Old San Juan. Restaurants in its narrow alleys were packed with locals listening to salsa. The main square was a mix of tourists and families. The silhouettes of dozens of kites against the sunset flew over the lawn in front of El Morro, San Juan's famous fort. On the beach, the upscale Vanderbilt Condado hotel was hosting a holiday party, its second in as many nights, and people stayed at Isla Verde's beach late into the afternoon. Mi Pequeno San Juan in the Old City has no power and can only accept cash.  Photo Credit: Johanna Jainchill To people who know San Juan, this will seem like a normal weekend. But the Puerto Rico that was devastated by Hurricane Maria in September is far from normal. The island is coming back slowly and, in many cases, painfully. Only 65% of the island has power restored and many residents have left in a mass exodus to the mainland United States. For the average tourist, however, visiting Puerto Rico will fee...

Congress can’t get  Puerto Rico  off its hands. Last year, lawmakers crafted Promesa, a bipartisan law that established a fiscal-control board and bankruptcy-like process to deal with the U.S. commonwealth’s unpayable $74 billion debt. Then came Hurricane Maria, which brought a fresh cascade of dilemmas that will shape the island for generations. Now, lawmakers must decide on disaster aid that -- if the island had its way -- would total $94 billion. Legal opposition from Governor Ricardo Rossello reined in the oversight board, and only Congress can expand its powers. And, as Republicans rewrite tax laws, they must decide how to treat the jurisdiction and its faltering economy, which occupies a vague space between foreign and domestic. “The long-term issues, the fiscal situation, the decision about taxes, it’s everything -- it’s all on the same plate that’s in front of Congress,” said Jenniffer Gonzalez, Puerto Rico’s nonvoting representative in the House of Rep...

Whitefish Energy Holdings LLC said it resumed repairing Puerto Rico’s storm-ravaged electric grid after receiving a payment from the territory’s bankrupt utility. The company, which saw its no-bid $300 million contract with the Puerto Rico Electric Power Authority canceled last month amid criticism, said Monday it was suspending work because it was owed $83 million. Under the terms of the canceled deal, Whitefish was supposed to continue work until Nov. 30. The tiny Montana-based company is under investigation after securing a sole-source contract with the PREPA to restore power on the island, which lost 80 percent of its electric grid after a pair of hurricanes in September. “PREPA released a payment to Whitefish Energy that was enough to show PREPA’s good faith intent to pay Whitefish Energy and its subcontractors for services rendered," the company said in a statement on Thursday. Chris Chiames, a Whitefish spokesman, declined to answer a question about ...

Three-quarters of residents in Puerto Rico still don't have power , but San Juan was just named  one of the best cities to visit in 2018  by Lonely Planet, the popular guide book publisher. Tourism industry officials hope they'll come even sooner: They want tourists back before Christmas. José Izquierdo, executive director of the Puerto Rico Tourism Company, said the primary focus is on rebuilding right now, but he hopes the island will be open for tourists by December 20. The high season for Caribbean tourism usually lasts from December until May. Izquierdo pointed out that  airports and cruise ports are operational,  and more than 100 hotels are open and operating. He said some hotels are already accepting new reservations and others are almost fully occupied thanks to the influx of thousands of federal first responders and volunteers from humanitarian aid organizations that have come to help rebuild the island. "NGOs are flocking to...

Washington  - El presidente del Comité de Recursos Naturales de la Cámara de Representantes,  Rob Bishop , solicitó hoy al director ejecutivo de la  Autoridad de Energía Eléctrica  (AEE),  Ricardo Ramos , que explique por escrito el polémico contrato otorgado a la empresa Whitefish. Bishop dio a Ramos hasta las 5:00 p.m. del 2 de noviembre para entregar los documentos que muestren las circunstancias que llevaron a la AEE a “ desviarse del proceso de contratación normal ” y cuáles son los oficiales, empleados o agentes que deben aprobar esas excepciones. También dijo que quiere se le suministre todos los documentos y comunicaciones referentes al acuerdo “ maestro ” para la reconstrucción de la AEE con fecha del 20 de septiembre y la primera enmienda que se le hizo el pasado 17 de octubre. “ Además, haga el favor de preservar todos los documentos, información y comunicaciones de cualquier índole, no importa el formato, que se refiera al Acuerdo Maestro de E...

After CEO Elon Musk extended an offer to help Puerto Rico earlier this month, Tesla is following through on a pledge to contribute to rebuilding the power grid devastated by Hurricane Maria,  leaving thousands of people without electricity . In a tweet Tuesday, Tesla posted photos of Hospital del Niño and the solar and power storage project that’s beginning there using the company’s Powerwall batteries. Musk has also donated $250,000 to relief efforts in Puerto Rico.  Follow Tesla   ✔ @Tesla Hospital del Niño is first of many solar+storage projects going live. Grateful to support the recovery of Puerto Rico with  @ ricardorossello 11:00 AM - Oct 24, 2017   644 644 Replies     8,866 8,866 Retweets     24,363 24,363 likes Twitter Ads info and privacy Musk first  hinted at helping to rebuild Puerto Rico’s power grid  in a tweet on October 5th; Governor Ricardo Rosselló promptly ...

Tesla ramped up its effort to help Puerto Rico get power back after its grid was ravaged by hurricanes last month. They quickly started shipping Powerwalls, their home energy storage solution, and we reported that  they started shipping Powerpacks , their bigger commercial and utility-scale battery packs, last week. But Puerto Rico is also looking to rebuild its electric grid longterm and  Tesla had its own suggestion about scaling its microgrid technology using batteries and solar power. A government official now says that they are indeed considering the solution and thinking about  launching a competitive bidding process. After being in talks with Tesla, Department of Economic Development and Commerce Secretary Manuel Laboy told Bloomberg that they are considering “a series of micro-grids and regional grids that use solar and battery technology, along with other renewable sources.” Instead of Puerto Rico’s current centralized power generation wi...