S.J. official updates PRHTA on development projects
October 21, 2011
Puerto Rico Hotel and Tourism Association members got a closer glimpse of the development projects underway in San Juan, where the municipal government is overseeing several initiatives: the Walkable City and the SATOUR light-rail transportation system.
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SBA loans in P.R., USVI up 57% in fiscal ’11
October 20, 2011
The U.S. Small Business Administration guaranteed 656 loans in Puerto Rico and the U.S. Virgin Islands during fiscal year 2011, a 57 percent increase over loans approved during the previous year. The results obtained are due in part to incentives implemented under the Small Business Jobs Act of 2010 and to a renewed commitment from SBA lenders.
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Open Mobile deploying $250M 4G LTE network before year’s end
October 20, 2011
Open Mobile, the island’s only pay-for-play wireless service provider, is on the final stages of completing its 4G Long Term Evolution (LTE) network, which should be up and running before the end of this year, News is my Business learned Wednesday.
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Horizon Lines stock to trade on OTC Market starting today
October 20, 2011
Domestic ocean shipping company Horizon Lines Inc. announced Wednesday its common stock will begin trading on the OTCQB Marketplace, effective today.
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Popular Inc. reports positive 3Q results; plans retirement window, branch closings
October 19, 2011
Popular Inc. sailed through its third consecutive quarter on the positive side, reporting $27.5 million in net income for the three-month period ended Sept. 30. The results were fueled by the sale of its non-performing loan portfolio and investment securities available-for-sale.
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SBA approves more than $2M in Hurricane Irene-related disaster loans
October 19, 2011
With just a week to go before the Oct. 26 deadline to submit disaster loan applications, the U.S. Small Business Administration announced Wednesday that so far it has approved $2 million in assistance for damages sustained by local businesses and residents in the wake of Hurricane Irene earlier this year.
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Onelink makes hefty network investments to add services, capacity
October 19, 2011
Onelink Communications, the San Juan metropolitan area’s main cable television provider, will be investing some $26 million in network upgrades in 2012, on top of the $184 million it has pumped into its network in the last six years, company officials said Tuesday.
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$25M Walmart Supercenter planned for Toa Baja
October 19, 2011
Walmart Puerto Rico is pushing forward with its expansion plans on the island, revealing plans to build a Supercenter in Toa Baja entailing a $25 million investment.
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Froyoworld joins P.R.’s frozen yogurt market
October 19, 2011
San Francisco-based frozen yogurt chain Froyoworld is making its debut in the Puerto Rico market with its first store that opened in Miramar this week, franchisee Ricky Lozada announced Tuesday.
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Tourism Co. in pursuit of European traveler market
October 19, 2011
The Puerto Rico Tourism Company is looking to establish “a solid exchnge” with the European travel market, in a bid to boost travel to the island as well as hotel registrations, which as of June 2011 had showed a 4.4 percent increase, agency Executive Director Mario González Lafuente said Tuesday.
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P.R. free-trade zones rank 15th in the nation
October 18, 2011
In its most recent report on the impact of free trade zones across the U.S., the National Association of Foreign Trade Zones has classified Puerto Rico’s three facilities among the top 15 in the nation.
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Forum slated on sustainable farming and world wealth
October 18, 2011
"Agriculture: Sustainability and world wealth" is the theme of an upcoming forum that will explore farming as a necessary variable to achieve development, to combat hunger and create wealth. The event is slated for Oct. 20, starting at 8 a.m. at the University of Puerto Rico, Río Piedras Campus School of Education.
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Trio of local colleges launch Estudiaahora.com online resource
October 17, 2011
Instituto de Banca y Comercio, National University College and Ponce Paramedical College, all educational institutions and members of the EduK Group, have created Estudiaahora.com, an online resource intended to encourage students to consider their educational choices from among professional certificate, associates, bachelor's and master's degree programs, all in one convenient online location.
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DDR pumping $50M to redevelop 4 island malls
October 17, 2011
DDR Corp. announced Monday plans to redevelop four shopping centers in Puerto Rico – Plaza del Sol and Rexville Plaza in Bayamon, Plaza del Norte in Hatillo and Plaza Escorial in Carolina, at a cost of $50 million.
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P.R.’s lagging wireless usage rate gives room for growth, evolution
October 17, 2011
Puerto Rico’s 81 percent wireless penetration rate is low in contrast to other parts of the world where mobile phones outnumber people, leaving ample space for growth and further contributions by an industry that “could do more.” However, the impact of an industry is not always in the numbers, but in the quality of services it extends to a population.
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