Investors: Gov’t transparency, free-flowing information critical to bond market success
May 10, 2012
Transparency and free-flowing information on the government’s behalf are crucial to keeping the island’s standing in the U.S. credit market, which is keeping close tabs on what is being done locally, several representatives of the investment community said Thursday during the first day of the Puerto Rico Credit Conference in San Juan.
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Bard creates 200 new jobs through Humacao expansion
May 10, 2012
Medical device manufacturer Bard Shannon Ltd. in Humacao is investing $43 million to expand its operations and add 200 new jobs in the process, Gov. Luis Fortuño announced Wednesday during a tour of the facility.
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Proposed Arecibo waste-to-energy plant gets EPA nod
May 10, 2012
The proposed $500 million waste-to-energy plant that Albany, NY-based Energy Answers is seeking to build in Arecibo got an important endorsement from the U.S. Environmental Protection Agency earlier this week, when it approved a key permit needed to move the project forward.
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Popular Insurance forges alliance with J. Jaramillo Insurance
May 10, 2012
Popular Insurance announced an alliance with General Agent J. Jaramillo Insurance, through which the latter will offer its services to Popular in some areas of its business, as well as to independent insurance agents who are now processing their property and casualty policies through Popular Insurance.
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Caribbean tourism officials step up lobbying campaign against U.K. airline tax
May 9, 2012
A tax originally imposed by the British government to fight global warming is being viewed in the English-speaking Caribbean as a penalty against long-haul air travelers — and regional tourism officials are furious about it.
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T-Mobile scores victory in PRT billing dispute
May 9, 2012
The U.S. Court of Appeals for the First Circuit put an end earlier this month to a nearly five-year-old billing dispute between T-Mobile and Puerto Rico Telephone involving several million dollars in charges related to network interconnection and transport facilities.
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Open Mobile ‘not worried’ about S&P’s credit outlook revision
May 9, 2012
Saying Open Mobile’s parent company, P.R. Wireless, has “less than adequate” liquidity, credit ratings agency Standard & Poor’s revised its outlook on the wireless carrier to negative from stable and affirmed its ratings, including the 'B' corporate credit rating.
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Critical Hub Networks deploys IPv6 to Caribe.Net broadband users
May 9, 2012
Critical Hub Networks announced Tuesday it has enabled next-generation IPv6 Internet services on its residential broadband network, becoming the first broadband provider in Puerto Rico to do so. The technology will benefit the company’s Caribe.Net customers.
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OMB’s Pavía: Government keeping expenses under control
May 8, 2012
Public expenses have been kept under projections during the first nine months of the current fiscal year, the fourth consecutive year the administration has managed its finances according to what was budgeted, a government official said Monday.
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First BanCorp reports 1Q ’12 net loss, announces $400M credit card portfolio deal
May 8, 2012
First BanCorp, the bank holding company for FirstBank Puerto Rico reported Monday a net loss of $13.2 million for the first quarter of 2012, which included a non-cash charge of $6.2 million related to equity in losses of unconsolidated entities.
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Malicious online activity skyrockets, P.R. 10th most-vulnerable in the Americas
May 8, 2012
Online cyber attacks skyrocketed by 81 percent in 2011 affecting organizations of all sizes and types worldwide, according to the 17th edition of Symantec’s Internet Security Threat Report, which also revealed that Puerto Rico ranked 10th among all territories in the Americas with the greatest volume of malicious activity.
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Caribbean tourism ministers welcome, not fear, end to Cuba travel restrictions
May 7, 2012
For years, the conventional wisdom was that an eventual end to the U.S. embargo against Cuba would open the floodgates for millions of curious Americans dying to visit the once-forbidden island — while the rest of the Caribbean would, at least initially, suffer a sharp downturn in U.S. tourist arrivals.
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Banesco USA expands presence in Florida
May 7, 2012
Florida-based Banesco USA is expanding its presence in that southern U.S. market through the acquisition of all of the deposits of Security Bank, National Association, through a Federal Deposit Insurance Corporation-assisted transaction.
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Gov’t agencies, private sector pact to spur job creation
May 4, 2012
The Economic Development Bank, the Family Department's Socio-Economic Development Administration, known as ADSEF, the Puerto Rico Chamber of Commerce (CofC) and the United Retailers Association (CUD) announced Thursday the signing of a pair of agreements to launch a job promotion plan for low-income residents.
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Anna’s Linens after ‘big slice’ of home goods retail pie
May 4, 2012
Puerto Rico’s retail market continues to draw new players, this time with the arrival of home goods chain Anna’s Linens, which plans to invest more than $3.7 million to open five stores on the island this year, company President Alan Gladstone told News is my Business Thursday.
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