Planning Board green-lights $477M in projects in 4Q ’11
August 11, 2011
The Puerto Rico Planning Board approved an investment of more than $477.2 million in new development projects between April and June that aside from generating new construction, will also create 1,042 jobs, agency President Rubén Flores-Marzán said.
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GDB raises more than $1B in pair of bond issues
August 11, 2011
The Public Buildings Authority sold more than $1 billion in bonds in the Puerto Rico and U.S. markets within the last week, which it will use to build and upgrade some 100 public schools and repay a credit line it has with the Government Development Bank, GDB President Juan Carlos Batlle said Wednesday.
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EPA takes action against Arecibo battery recycling company
August 10, 2011
The U.S. Environmental Protection Agency announced Wednesday it has taken legal action against the Battery Recycling Company Inc. requiring the company to take multiple actions to reduce the pollution of air and water from lead at its Arecibo facility.
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Health care groups in Caguas, Ponce receive $1.3M from U.S. Dept. of Health
August 10, 2011
Two local organizations, Corporación SANOS in Caguas and Consejo de Salud de Puerto Rico Inc. in Ponce, are receiving more than $1.3 million in combined funds from the U.S. Department of Health’s Affordable Care Act to expand their healthcare offerings to continue serving underprivileged communities.
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Telecom Board to issue decision on Claro TV license in 2 weeks
August 10, 2011
Following two tough days of public hearings on Claro’s petition for a cable operator franchise license to launch its paid television service via broadband, the Telecommunications Regulatory Board announced Tuesday it will issue its decision within the next two weeks, News is my Business learned.
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Motorola Mobility, Claro launch Motorola Pro
August 10, 2011
Motorola Mobility Inc. and Claro announced this week the arrival of Motorola Pro, the first Android-based Smartphone optimized for business use. The new mobile combines productivity, security and customization tools with a powerhouse with a super-fast processor and physical QWERTY keyboard for more efficient typing and texting.
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Salvation Army to invest $30M in new headquarters, community center
August 10, 2011
Just in time for its 50th anniversary in Puerto Rico in 2012, the Salvation Army is flexing its muscles with the move of its central headquarters to a Santurce building and the construction of a multiple-use community center in Guayama. Both projects represent a hefty $30 million investment in the island’s economy.
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LMM public-private partnership process draws 12 global bidders
August 9, 2011
The Public-Private Partnership Authority announced Tuesday it received requests for qualification bids from 12 global companies that are interested in managing the Luis Muñoz Marín International Airport in tandem with the government.
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Government CIO urges TRB to approve IPTV license
August 9, 2011
The government’s Chief Information Officer, Juan E. Rodríguez, urged the Telecommunications Regulatory Board Monday to give way to Puerto Rico Telephone’s petition for a cable television franchise license to launch islandwide IPTV service, as it would benefit consumers, competition and the economy.
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IPTV hearing gets off to rocky start
August 9, 2011
Delayed by a “give-and-take” between Telecommunications Regulatory Board members and representatives from Puerto Rico Telephone (Claro) and companies opposed to its application for a cable television franchise license, Monday’s hearing on IPTV got off to an unsurprisingly rocky start.
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Moody’s downgrades GO bond ratings to ‘Baa1,’ outlook negative
August 8, 2011
Moody's Investors Service downgraded the rating of more than $1 billion of the Puerto Rico Public Building Authority’s general obligation bonds to Baa1 from A3, providing a negative outlook for Series R and Series S. The bonds are expected to go to market Tuesday.
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BPOP buys Puerto Rico Citi/AAdvantage $130M credit card portfolio
August 8, 2011
Banco Popular announced Monday it has entered into an agreement with American Airlines Inc. to become the exclusive issuer of AAdvantage co-branded credit cards in Puerto Rico and the U.S. Virgin Islands, and the acquisition of the Citi/AAdvantage co-branded credit card portfolio, which represents approximately $130 million in balances.
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Fortuño: U.S. ‘acted too late’ to avoid downgrade
August 8, 2011
Contrasting Puerto Rico’s current economic conditions with those of the U.S. mainland’s, Gov. Luis Fortuño said the “U.S. is starting to suffer the consequences of not acting immediately” to its escalating fiscal troubles.
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S&P downgrades U.S. credit rating after budget negotiations fall short
August 6, 2011
The United States’ 94-year excellent credit run ended Friday, when ratings agency Standard & Poor’s lowered the country’s AAA credit to AA+ for the first time, dissatisfied with the results of the spending cuts package agreement between Congress and the White House reached earlier in the week.
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Claro launches online petition to drum up public support for IPTV service
August 6, 2011
Claro has stepped up its efforts to obtain the franchise license it requested more than three years ago to break into the island’s paid television market by launching an online signature collection campaign Friday in support of its IPTV service.
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