April employment data yields mixed results, jobless rate at 14.8%
May 17, 2012
Puerto Rico’s unemployment rate stood at 14.8 percent in April, representing the lowest level in 16 months. The number of employed people on the island increased by 22,000, while those on the unemployment lines were the lowest in the last four months.
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SME study: P.R. Internet usage levels reach 50%
May 16, 2012
About half of Puerto Rico’s population — split almost evenly between men and women between 25 and 39 years old — uses the Internet to work or socialize, according to the 2012 edition of the Sales & Marketing Executives’ “Digital & Mobile Behavioral Study.”
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T-Mobile P.R. unscathed by 2nd wave of stateside layoffs, signs Culson for ad campaign
May 16, 2012
T-Mobile USA announced Tuesday there will be a second round of layoffs in coming weeks as it continues to restructure its operation, a decision that will have no impact on its Puerto Rico operations, local officials confirmed.
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Doral reports $2.6M in 1Q earnings, $101.5M increase in Tier 1 capital
May 16, 2012
Doral Financial Corp. reported net income of $2.6 million for the quarter ended Mar. 31, which reflected a 21.2 percent drop in comparison to the $3.3 million reported for the same year-ago quarter.
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CIO lays out strategy to push island broadband adoption rate to 70% by ’15
May 15, 2012
The Puerto Rico Broadband Task Force, a 12-member public-private coalition organized a year ago, is laying the foundation to more than double current broadband adoption levels across the island to at least 70 percent by 2015, up from the current 31 percent, and expedite a significant increase in download speeds within the next five to eight years.
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P.R.-Cuba flights grounded after 3 months may resume this summer
May 15, 2012
Last year, California-based Cuba Travel Services launched, with great fanfare, the first direct charter flights between Puerto Rico and Cuba since the 1959 revolution that brought Fidel Castro to power.
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Caribbean hotel officials: Cruise ships need to pay their fair share of taxes
May 15, 2012
Hoteliers are generally optimistic that 2012 will bring a modest recovery to Caribbean tourism arrivals, but at a recent conference in San Juan, there was plenty of grumbling that for too long, hotels have been shouldering an unfair tax burden when compared to the cruise industry.
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EPA to hold public meeting, hearing on permit for Arecibo waste-to-energy plant
May 15, 2012
The U.S. Environmental Protection Agency announced Monday it will hold a public hearing June 25 to give the public a chance to express their concerns about the proposed waste-to-energy plant project slated for Arecibo.
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JetBlue gets go-ahead to launch P.R.-Wash. D.C route
May 14, 2012
JetBlue Airways, Puerto Rico's largest carrier, was granted Monday a “beyond-perimeter” slot exemption from the U.S. Department of Transportation, which will enable it to launch new nonstop "capital-to-capital" service from Ronald Reagan Washington National Airport to the Luis Muñoz Marín International Airport. The carrier expects to start service in the fall.
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American Airlines looking to reduce square footage at LMM airport by 92%
May 14, 2012
American Airlines’ cycle as the leading carrier at the Luis Muñoz Marín International Airport could officially come to an end on June 1, if the U.S. Bankruptcy Court approves its petition to turn over the $350 million, 370,000 square-foot terminal facility it built in 1986 to the Puerto Rico Port Authority, News is my Business learned.
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Dominican Republic presidential candidates to headline PRMA convention
May 14, 2012
The Puerto Rico Manufacturers Association will be hosting its 84th annual convention under the “We’re all manufacturers” slogan, adopted to reflect “the multiplicity of industry elements,” said trade group President Pedro Watlington.
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Badillo, DDB big winners at Cúspide awards ceremony
May 14, 2012
Badillo Nazca Saatchi and Saatchi was the big winner of this year’s 30th edition of the Cúspide awards honoring the island’s best advertising efforts. The agency swept the competition with 16 statuettes, plus the event’s highest distinction, the “Gran Cúspide,” for a social media campaign for the United Way about the dangers of stray bullets.
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AA looking to get out of LMM lease
May 11, 2012
American Airlines, once the anchor and darling of the Luis Muñoz Marín International Airport, filed a motion in a U.S. Bankruptcy Court in New York stating its interest in getting out of its lease agreements with the government for the use of the facilities, the Dallas Morning News reported Thursday.
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Construction starts on $72M Ritz-Carlton Reserve Residences at Dorado Beach
May 11, 2012
The developers of the Dorado Beach property, PRISA GROUP, broke ground on the second phase of construction of the “Ritz-Carlton Reserve Residences,” a $72 million project that seeks to position Puerto Rico as world-class destination for upscale living and tourism.
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More than 30 eateries participating in ‘P.R. Restaurant Week’
May 11, 2012
For seven days starting May 14, fine-dining enthusiasts will have the chance to experience some of the San Juan metropolitan area’s best restaurants, which will be offering a three-course “prix fixe” dinner menu (including appetizer, entrée and dessert) for either $29 or $39, as part of Puerto Rico Restaurant Week.
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