15 industrial development projects worth $248.3M in pipeline
April 19, 2012
Fifteen companies made the commitment last month to invest $248.3 million in machinery and equipment, and create 1,369 jobs in the next 18 to 36 months, Economic Development and Commerce Secretary José Pérez-Riera said Wednesday.
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Firm emerges to defend consumers facing foreclosure
April 19, 2012
Given the unstoppable wave of foreclosures in Puerto Rico, where some 8,000 properties have been repossessed in recent years, homeowners have a pressing need for legal representation to avoid losing their dwellings.
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Cabo Rojo’s Combate Beach joins Tourism Company’s ‘paradores’ program
April 19, 2012
The 18-room oceanfront Combate Beach Resort in Cabo Rojo officially joined the list of Tourism Company-endorsed “paradores,” Wednesday, taking on a new identity as part of the inclusion.
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GDB lifts restriction on public data
April 18, 2012
In an apparent response to public pressure, the Government Development Bank on Wednesday eliminated the restriction on the information it shared with the public on its website.
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Kerry Products closing Arecibo plant, shifting production to Mexico
April 18, 2012
erry Products, and Irish food and beverage flavors manufacturer, will be closing down its operation in Arecibo in coming months as it transfers the operation to a plant in Mexico, Frank Hayes, director of corporate affairs confirmed to News is my Business.
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Chances of winning tonight’s $24M lotto prize? 1 in 9.3M
April 18, 2012
Tonight’s lotto drawing is one of the biggest in island history, promising the winner a whopping $24 million prize. However, the chances of hitting it big are one in 9.3 million, María Victoria León, deputy secretary of the Electronic Lottery, said Wednesday.
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Paseo Caribe resumes sale of luxury oceanfront apartments
April 18, 2012
A limited number of ultra upscale apartments in two of the three towers of the Paseo Caribe residential and commercial complex overlooking the sparkling blue waters of the Atlantic in San Juan will go up for sale starting this week, through private, by-invitation-only tours, representatives of the developer San Gerónimo Caribe Project Inc., announced Tuesday.
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Travel Channel series features Vieques attractions
April 18, 2012
Puerto Rico will be prominently featured in tonights's episode of a new Travel Channel series, “Park Secrets,” that will showcase private islands around the world, the Tourism Company said.
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Moody’s places $16B in gov’t debt under review for possible downgrade
April 17, 2012
Moody’s Investors Service has placed the ratings of $6.8 billion outstanding Puerto Rico Sales Tax Financing Corporation's senior sales tax revenue bonds' Aa2 rating and $9.2 billion in subordinate sales tax revenue bonds' A1 rating on review for possible downgrade, the agency announced Tuesday.
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GAO to Pierluisi: Jones Act impact study underway
April 17, 2012
The U.S. Government Accountability Office is “actively working” on Resident Commissioner Pedro Pierluisi’s request to determine the economic impact that the cabotage laws have on Puerto Rico, his office said Monday.
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Nearly 40 U.S., P.R. companies file class-action suit against Sea Star, Crowley
April 17, 2012
Nearly 40 commercial customers who opted out of the $52.2 million settlement that maritime cargo companies Sea Star and Crowley reached with the U.S. government a few months ago have filed a new class-action suit against the carriers at the U.S. District Court in South Carolina.
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FirstBank closes 1st ‘refi’ loan under SBA pilot program
April 17, 2012
In line with its renewed service platform launched earlier this month to meet the needs of small and medium businesses, FirstBank and the Small Business Administration announced Monday the first closing under the agency’s pilot 504 loan refinancing program to Coamo Golf Bakery for $173,098.
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TSA to begin testing ID-checking technology at LMM on Apr. 23
April 16, 2012
The Transportation Security Administration announced over the weekend that it will begin testing new technologies designed to enhance its ability to identify altered or fraudulent passenger identification documents and boarding passes at the Luis Muñoz Marín International Airport, starting Apr. 23.
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Marriott aims to double footprint in the Caribbean, LatAm by ’17
April 16, 2012
The $340 million Ritz-Carlton Reserve slated to open in Dorado in December is one more than 70 hotel properties Marriott International is developing in the Caribbean and the Latin American region
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150 emergency staff take ‘agroterrorism’ training
April 16, 2012
A contingent of more than 150 emergency responders were trained over the weekend to handle potential agroterrorism incidents in Puerto Rico, an action that is considered a crime that could affect agriculture, vegetation and food of a community or an entire country.
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