First Bancorp sells off another block of stock
June 28, 2011
First Bancorp announced Tuesday it has entered into a definitive agreement with Oaktree Capital management to sell 24.9 percent of its common stock, for $175.5 million. The transaction comes a month after FirstBank’s parent company entered into a similar agreement with private equity firm Thomas H. Lee Partners, L.P.
chat_bubble0 Comment
visibility2720 Views
Highways concession contract inked, Abertis vows to repave 25% of PR-22 in 3 years
June 28, 2011
Over the next three years, two Puerto Rico highways will undergo a $56 million facelift en route to becoming world-class roads, so said the new private-sector consortium of Goldman Sachs Infrastructure Partners/Abertis, upon signing a 40-year management contract with the government at La Fortaleza Monday.
chat_bubble0 Comment
visibility4559 Views
DirecTV earmarks $13M for projects, upgrades
June 28, 2011
Satellite television provider DirecTV is wrapping up its 12th year of operations on the island with a $13 million investment in new projects slated through the end of 2011.
chat_bubble0 Comment
visibility2760 Views
Former GDB president García appointed chief of staff at Sovereign Bank
June 27, 2011
Boston-based Sovereign Bank, a wholly owned subsidiary of Banco Santander, has named former Government Development Bank President Carlos García to the position of chief of staff reporting directly to Jorge Morán, president and CEO of Sovereign Bank and country head of Santander businesses in the United States.
chat_bubble0 Comment
visibility3166 Views
Planning Board: Exports up 10.2% in first 8 months of Fiscal ’11
June 27, 2011
Puerto Rico's exports during the first eight months of fiscal 2011 increased by 10.2 percent to more than $50 million, from the $45.4 million on record for fiscal 2010, according to the latest figures released by the Puerto Rico Planning Board.
chat_bubble0 Comment
visibility13238 Views
Highest-ranked Puerto Rican federal transportation official touts benefits of PPPs
June 27, 2011
Saying the private sector is as responsible as the government for ensuring that transportation infrastructure is in good shape, Orlando Gotay, the highest-ranked Puerto Rican in the U.S. Department of Transportation, urged “more action and participation” from them, as well as regular citizens, in the decision-making process to address Puerto Rico’s present and future needs.
chat_bubble0 Comment
visibility3178 Views
Joint P.R.-D.R. projects flourishing, 10 in pipeline so far
June 27, 2011
The tight cultural and commercial relationship between Puerto Rico and the Dominican Republic is about to get even stronger in coming months as the islands work to develop joint projects in the areas of biofuel and energy production that also involve private sector participation, said Virgilio Álvarez-Bonilla, ambassador and executive director of the Joint Dominican Republic-Puerto Rico Bilateral Commission.
chat_bubble0 Comment
visibility3592 Views
CofC draws promise from Fortuño to eliminate commercial property taxes
June 25, 2011
Gov. Luis Fortuño promised members of the Puerto Rico Chamber of Commerce that he would be submitting legislation to eliminate commercial property taxes placed on unsold inventory, to improve the local business climate.
chat_bubble0 Comment
visibility3259 Views
Pierluisi lauds passage of bill overhauling federal patent law
June 25, 2011
A bi-partisan Congressional bill proposing sweeping changes of the America Invents Act, which regulates patents, was passed by the House Friday with amendments submitted by Resident Commissioner in Washington, Pedro Pierluisi to benefit Puerto Rico.
chat_bubble0 Comment
visibility3741 Views
Fortuño announces entrepreneurial alliance to strengthen Caribbean commerce
June 24, 2011
Río Grande -- Gov. Luis Fortuño used as backdrop this year's Puerto Rico Chamber of Commerce Annual convention to announce the establishment of an alliance with the Dominican Republic to further entrepreneurial activities between the islands.
chat_bubble0 Comment
visibility3579 Views
Claro parent company facing $16K FCC fine for violating foreign ownership rules
June 24, 2011
Mexican telecom giant América Móvil, parent of local incumbent carrier Puerto Rico Telephone (which does business as Claro), is in hot water with the Federal Communications Commission for violating indirect foreign ownership rules after issuing stock that increased owner Carlos Slim and his family’s corporate stronghold.
chat_bubble0 Comment
visibility3987 Views
Research firm: Popular Inc. “turning corner”
June 24, 2011
Los Angeles-based financial research firm B Riley gave Popular Inc. a cautious pat on the back this week, saying the banking institution has “solidified its capital base, and it appears to be turning the corner on asset quality,” following several years of substantial losses.
chat_bubble1 Comment
visibility10252 Views
SBA to conduct small business workshop for military women, veterans and spouses
June 23, 2011
The Puerto Rico Office of the U.S. Small Business Administration will conduct a business seminar for women veterans, military service members, and their spouses on June 30, starting at 9 a.m. at the SBA’s facilities in Hato Rey.
chat_bubble0 Comment
visibility2766 Views
Local co-op sector adds new players, reflects growth curve
June 23, 2011
The island’s cooperative sector added a dozen new players Wednesday, following the certifications of as many groups to operate businesses under that concept on the island, the Puerto Rico Cooperative Development Commission, known as CDCOOP, announced.
chat_bubble0 Comment
visibility6001 Views
2 local tech companies win top Microsoft Corp. honors
June 23, 2011
Two local companies beat out about 3,000 competitors around the world to nab the distinction of being named Microsoft Partners of the Year, the software giant announced Wednesday.
chat_bubble0 Comment
visibility3330 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA