Roosy Roads Authority signs catamaran builder as 1st tenant
May 22, 2012
The Roosevelt Roads Redevelopment Authority announced Monday it has signed its first tenant, a company dedicated to building catamarans.
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1st phase of Bahía Urbana project to be done by summer
May 22, 2012
Two years after breaking ground, government officials said Monday the first phase of the ambitious $525 million Bahía Urbana redevelopment project will be completed by summer.
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Guaynabo’s Trans-Oceanic Life Insurance Co. nabs strong A.M. Best review
May 22, 2012
Guaynabo-based Trans-Oceanic Life Insurance Company this month received a strong review from credit ratings agency A.M. Best Co., which revised the outlook for the issuer credit rating to positive from stable, to “bbb,” and affirmed the financial strength rating (Fof B++ (Good), while giving it a stable outlook.
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Universal Insurance launches corporate university
May 22, 2012
Looking to establish a school where members of the insurance industry can seek training and professional development, Universal Insurance recently unveiled its “Universal University” concept, a $1.1 million corporate university open to the general public.
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Economist: Sustainability in public finances ‘critical’ to recovery
May 21, 2012
It is the general belief that it is bad for a government to have a deficit or be shoulder-deep in debt. However, while it is “perfectly legitimate” for public administrations to have shortfalls and finance them with debt, what is dangerous is when the practice leads to unsustainability.
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Microsoft Store concept coming to Plaza las Américas
May 19, 2012
Microsoft Corp. confirmed Friday it has reached an agreement with Plaza las Américas in Hato Rey to open its first Microsoft Store at the mall, officially joining the retail sector to sell its technology products under its own roof.
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A.M. Best lowers Cosvi’s credit rating as finances dip
May 19, 2012
Cooperativa de Seguros de Vida de Puerto Rico is being closely watched by A.M. Best Co., which on Friday confirmed it has downgraded the operation’s financial strength rating to C++ (Marginal) from B- (Fair) and issuer credit rating to “b” from “bb-.”
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Santander puts money in hands of entrepreneurial students
May 18, 2012
Entrepreneurial college students are the kind of people Banco Santander wants to support not only in Puerto Rico, but wherever it does business worldwide.
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7 textile industries vow to invest $40.5M, create 1,500 jobs
May 18, 2012
In the last 36 months, the Puerto Rico Industrial Development Company has helped to promote seven companies in the textile industry that have vowed to invest $40.5 million and create 1,582 direct jobs, Executive Director José Pérez-Riera said Thursday.
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Doral styles college students for workplace
May 18, 2012
As part of its commitment to women at all of their professional stages, Doral Bank this week celebrated the second edition of its “Style a Student” program, through which work attire is donated to college students with limited resources and helps integrate them to the labor force.
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Budweiser summer promotion takes off
May 18, 2012
This summer Budweiser is flying more than 100 Puerto Rican fans on a once-in-a-lifetime journey to the famed Lollapalooza music festival in Chicago, on a chartered private jet.
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Construction starts on $405M ‘The Mall of San Juan,’ formerly known as Plaza Internacional
May 17, 2012
Taubman Centers, Inc. announced Thursday that construction will begin this summer on the $405 million, 640,000-square-foot luxury shopping center formerly known as Plaza Internacional, now re-named The Mall of San Juan, located just off the Teodoro Moscoso Bridge in San Juan.
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Lagging economy, slow population growth affecting P.R. housing market
May 17, 2012
Puerto Rico’s demographics have significantly influenced its housing market in recent years and it is expected to continue playing a crucial role in the future of the local housing market, according to the findings of the “Puerto Rico Housing Market Outlook 2011-2015” study revealed Wednesday by the Puerto Rico Bankers Association.
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JetBlue supports P3 for LMM, invests $3M to move into Terminal A
May 17, 2012
New York-based JetBlue is marking its 10th year of service in Puerto Rico by investing $3 million to move into its own terminal facility at the Luis Muñoz Marín International Airport this summer. And although the carrier is not officially calling its local operation a hub, its 40 daily flights, and counting, have made it Puerto Rico’s dominant carrier.
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Juvenile correctional center P3 draws 11 consortiums
May 17, 2012
Eight weeks into the process of finding a private operator to design, build, finance and maintain the proposed “New Juvenile Social Treatment Campus” in Yauco, the Public-Private Partnership Authority announced Wednesday it received 11 proposals from local and international interested consortiums.
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