Biopharma sector proposes solutions to its challenges
November 16, 2012
The biopharmaceutical industry is a major driver of Puerto Rico’s social and economic development, not just for the 86,000 direct and indirect jobs its creates, but for the multiplier effects it has upon other sectors.
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Plaza Carolina completes most renovations, welcomes new tenants
November 16, 2012
Plaza Carolina, Puerto Rico and the Caribbean’s second-largest mall, unveiled Thursday its new look and expanded store offering in preparation for this year’s holiday season. Reopening activities will take place all weekend and include the traditional lighting of the Christmas tree, musical presentations and special promotional events, mall officials said.
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New president, CFOs named at MCS
November 16, 2012
Looking to reinforce its local leadership, Medical Cards System Inc. CEO Jim O’Drobinak announced the promotions of David Scanavino to president of the MCS Advantage Inc. subsidiary, David P. Schaffer, to CFO of MCS Life Insurance Company and MCS Health Management Options; and José Aponte, to CFO of MCS Advantage Inc.
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Puerto Rico, USVI car sales remain flat in October
November 16, 2012
Auto sales in Puerto Rico and the U.S. Virgin Islands totaled 8,343 units for the month of October, remaining pretty much flat in comparison to the same month last year, the United Automobile Importers Group known as GUIA announced Thursday.
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MasterCard, Plaza Las Américas to host shopping night
November 16, 2012
This year’s holiday shopping season will kick off early for MasterCard credit and debit customers, who will get a chance to participate in a special shopping event at the Plaza Las Américas mall Nov. 19, from 7 p.m. to 11 p.m.
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Popular Auto names its 1st woman president
November 15, 2012
Sylvia M. López-Cartagena, an 18-year veteran at Banco Popular, has taken over the helm of its Popular Auto subsidiary, becoming the first woman to head the car loan operation since its establishment in 1990.
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Claro deploys 4G LTE network in Puerto Rico
November 15, 2012
Telecommunications provider Claro Puerto Rico announced Wednesday it has officially switched on its next-generation 4G Long-Term Evolution digital platform in San Juan, Ponce and Mayagüez, as this media outlet first reported last month.
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Lilly denies Guayama plant closing, launches retirement window
November 14, 2012
Shooting down reports circulated Tuesday saying it planned to close its Guayama operation, pharmaceutical company Lilly del Caribe announced and launched a voluntary severance program for eligible employees working at the site.
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Report: Puerto Rico ‘not alone’ in energy challenge
November 14, 2012
The tripling of global oil prices during the last decade has been largely passed through to consumers in Puerto Rico’s oil‐intensive economy, causing a domino effect that has trickled down through the main sectors of the economy, Banco Popular’s “Progreso Económico” report concluded.
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Scarborough begins gauging local consumer trends
November 14, 2012
Scarborough Research, a company dedicated to gathering insight on consumer shopping patterns, media usage across platforms, and lifestyle trends for adults, formally announced its entrance into the Puerto Rico market.
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Aon Puerto Rico names new president
November 14, 2012
Aon Puerto Rico announced this week the appointment of Manuel Bermúdez as the new president of its local operations. He succeeds Iván Méndez, who held the post for the past five years and will now chair the company’s board.
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Chef Andrés to open ‘Mi Casa’ eatery at Dorado Beach
November 14, 2012
When Dorado Beach, a Ritz-Carlton Reserve debuts as the first Reserve in the Americas on Dec. 12, it will also usher in a groundbreaking level of culinary excellence with Mi Casa by José Andrés.
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Doral stock plunges 19%, faces delisting
November 13, 2012
Doral Financial Corp.’s stock plunged 19 percent Monday, closing at .57 cents per share. The significant drop comes in the wake of $32.5 million in third-quarter losses and a warning from the New York Stock Exchange of a possible delisting, as its stock has been trading for less than $1 over the past 30 days.
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CPAs call for collaboration from new government
November 13, 2012
Puerto Rico Society of Certified Public Accountants President Kenneth Rivera-Robles urged all sectors to set forth a reform program to help the island’s new leaders to get over the current crisis.
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Analysis: Rescinding airport P3 could cost gov’t up to $8M, lawsuit risk
November 12, 2012
If the Puerto Rico government were to walk away from the public-private partnership that turns over the responsibility of managing and operating the Luis Muñoz Marín International Airport to Aerostar Holdings, it would have to compensate the consortium with as much as $8 million for its troubles, according to the 40-year lease agreement signed earlier this year.
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