OMB Chief: ‘We strongly reject’ Moody’s $16B COFINA bond rate cut
July 18, 2012
In what may constitute as the latest setback in Puerto Rico’s attempt to put the economy back on track, Moody's Investors Service announced Wednesday its decision to downgrade $16 billion in Puerto Rico Sales Tax Financing Corporation bonds.
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McNeil laying off 225 at troubled Las Piedras plant
July 18, 2012
More than two years after running into some serious production troubles at its Las Piedras plant, McNeil Consumer Healthcare announced Tuesday it will layoff 225 people as it focuses on complying with correcting deficiencies detected by the U.S. Food and Drug Administration.
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EPA OKs $70K ‘green’ education grant to Turabo University
July 18, 2012
The U. S. Environmental Protection Agency awarded $70,000 to enable the Turabo University in Gurabo, to work with junior high school students and teachers in developing web pages focusing on their local environment.
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Seaborne Airlines announces new LMM-Tortola flights
July 18, 2012
Less than a month after announcing plans to expand its fleet of aircraft, investing more than $7 million in three new planes, regional carrier Seaborne Airlines confirmed Tuesday plans to launch twice-daily flights from the Luis Muñoz Marín International Airport to Tortola’s Terrence B. Lettsome International Airport
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Dorado Beach partners with Cousteau’s undersea environmental program
July 18, 2012
Dorado Beach, a Ritz-Carlton Reserve and environmental diplomat Jean-Michel Cousteau have announced plans to create an environmental education and eco-adventure program using Dorado Beach as the natural classroom, introducing travelers to Puerto Rico's natural wonders and cultural heritage at the resort.
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Crystal Serenity making maiden call to Ponce port in December
July 18, 2012
The ultra-luxe Crystal Serenity will sail into the southern port of Ponce to ring in the New Year, marking its first visit to Puerto Rico, parent company Crystal Cruises announced Tuesday.
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Fortuño OKs more tax breaks for filmmakers
July 17, 2012
The Puerto Rico government is making even more tax breaks available to draw filmmakers to the island, which in the last three years has become a magnet for big-budget Hollywood and television productions.
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GDB may file claim in LIBOR rate manipulation case
July 17, 2012
The Puerto Rico Government Development Bank is mulling over the possibility of filing a legal claim related to the London Interbank Offered Rate manipulation case, agency President Juan Carlos Batlle told Reuters Monday.
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Office Depot Foundation to donate 2,500 ‘sackpacks’ to island students
July 17, 2012
The Office Depot Foundation will help children throughout Puerto Rico to get ready for the new school year by donating 2,500 colorful new “sackpacks” to 12 nonprofit organizations and schools during an event slated to take place Thursday, the retailer announced.
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Op Ed: Stretching your dollars to the max, a working mom’s point of view
July 17, 2012
My kids — like most kids — seem to think that money grows on trees! Every week there’s something new each one of them covets, be it a dress, a toy or a movie they want to see.
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Walmart sends moms back to school
July 17, 2012
Aware of the important role education plays on the island’s wellbeing, Walmart Puerto Rico announced the launching of a new educational initiative through which it will select 10 mothers who have not finished high school, to enroll in a program to get their diploma.
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Pretzel, cookie chains entering market in coming months
July 16, 2012
Puerto Rico’s franchise market will welcome two new players in coming months, with the arrival of Pennsylvania-based Auntie Anne’s Pretzels and Atlanta-based Great American Cookies.
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Recruiting, retaining staff key to ‘Best Employers’ honors
July 16, 2012
The 9th edition of the “Best Employers in Puerto Rico” annual survey revealed that one trait that sets them apart is how they manage their human resources, keeping track of why an employee was hired and evolving constantly to reward those who meet their standards and expectations.
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VAPR Federal Credit Union invests $8M in new HQs
July 16, 2012
Through an $8 million investment, VAPR Federal Credit Union recently broke ground on its new 70,000 square-foot headquarters located on Rd. 177 in San Juan. The new facilities, which will house the company’s administrative offices and a covered parking area, should be finished by late 2013.
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Tourism Co. announces late summer ‘paradores’ deals
July 16, 2012
Puerto Rico residents looking to get away during the final weeks of summer can choose to stay at any of 17 “paradores” (small inns) offering special rates, Tourism Company Executive Director Luis Rivera Marín said over the weekend.
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