Caribbean targets 2 new markets: South America, Russia
May 3, 2012
Caribbean islands are aggressively courting new tourism markets as restrictive U.K. airline taxes and hard times in the United States keep thousands of potential British and American visitors at home.
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LMM private operator to be announced by summer
May 3, 2012
The two consortia in the final running for the 40-year management concession of the Luis Muñoz Marín International Airport have already been selected, with the final winner to be announced by summer.
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FirstMortage reports 8% loan production growth in ’11
May 3, 2012
FirstMortgage, FirstBank’s mortgage division, is following the strategic plan it laid out for itself last year to improve its market standing by focusing on three areas: customer service, streamlining procedures and improving efficiency in the loan origination and closing process.
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América Móvil: Full LTE launch in P.R. not until 3Q
May 2, 2012
During a recent call with investors, América Móvil CEO Daniel Hajj confirmed that the commercial launch of its 4G Long-Term Evolution platform in Puerto Rico will not take place until the third quarter of this year, following a limited roll-out of the next-generation technology late last year.
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SEC charges UBS P.R., 2 execs with fraud
May 1, 2012
The Securities and Exchange Commission on Tuesday charged UBS Financial Services Inc. of Puerto Rico and two executives with making misleading statements to investors, concealing a liquidity crisis, and masking its control of the secondary market for 23 proprietary closed-end mutual funds.
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Bumble Bee closing Mayagüez plant after 50 years, leaving 260 jobless
May 1, 2012
The Bumble Bee tuna cannery in Mayagüez will be closing its operation after 50 years of doing business in Puerto Rico, leaving about 260 people jobless, News is my Business learned.
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Popular announces 1-for-10 reverse stock split
May 1, 2012
Popular Inc. announced Monday that its stockholders approved a proposed 1-for-10 reverse split of its common stock, which is expected to become effective May 29.
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Scotiabank approves $20.4M for EDIC College acquisition
May 1, 2012
Scotiabank de Puerto Rico recently approved $20.4 million in financing to Renovous Capital, LP to complete its acquisition of EDIC College Inc., the bank announced Monday.
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Op Ed: Customer service — Smaller is better
May 1, 2012
When it comes to providing value to customers, size isn’t everything — personalized service is.
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Econo lands P.R. Products Association ‘business excellence’ award
May 1, 2012
Supermercados Econo recently received the award for Excellence in Management Quality, for its track record of quality and commitment to the industry, bestowed by the Puerto Rico Products Association.
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