Gov’t proposes benefit cuts to avoid pension system collapse
February 28, 2013
High-ranking Puerto Rico government officials unveiled Wednesday a package of measures aimed at resolving the Commonwealth Retirement System’s critical fiscal situation, including raising the retirement age and increasing employee contributions.
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Karen Millen, Starbucks moving into Plaza Las Américas
February 28, 2013
British multinational women's designer clothing retailer, Karen Millen, which specializes in tailoring, coats and evening wear, will be opening its first store in Puerto Rico at the Plaza Las Américas shopping center in Hato Rey, this media outlet confirmed Wednesday.
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$20M Condado Palm Inn & Suites opens for business
February 28, 2013
The owners of the Best Western Plus Condado Palm Inn & Suites officially marked the opening Wednesday of the $20 million property that is adding 151 new rooms to the heart of San Juan’s trendy Condado district.
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EPA unveils new rules for Puerto Rico energy efficient homes
February 28, 2013
Federal and local government officials joined the U.S. Green Building Council in San Juan Wednesday to announce new guidelines developed by the U.S. Environmental Protection Agency designed to take the Puerto Rico climate into account in determining energy efficiency for homes.
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Island firm among UPS ‘Entrepreneurial Spirit Award’ winners
February 28, 2013
Jani Clean, a Puerto Rican company specializing in janitorial products and services, was chosen as one of three small and medium-sized businesses in Latin America to receive the UPS Entrepreneurial Spirit Award for innovation and success.
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Ford Dealers donate $16K to Alliance for a Drug-Free Puerto Rico
February 28, 2013
The Ford Dealers Association of Puerto Rico donated $16,000 to the Alliance for a Drug-Free Puerto Rico, through the auction of a 2013 Ford Fiesta during the Antique Car Show held earlier this month.
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Aerostar lands operating certificate for San Juan airport
February 27, 2013
Grupo Aeroportuario del Sureste (ASUR), one half of the Aerostar Airport Holdings, LLC consortium that won the bid to take over the management and operation of the Luis Muñoz Marín Airport in Puerto Rico, said Wednesday it has obtained the necessary 139 certificate from the Federal Aviation Administration, and is ready to start modernizing the airport.
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AGP ‘keeps word’ on Puerto Rico airport privatization deal
February 27, 2013
Saying his administration “will always keep its word and honor its legal responsibilities,” Puerto Rico Gov. Alejandro García-Padilla gave the final go-ahead to the public private partnership through which the government will pass the responsibility of operating and managing the Luis Muñoz Marín airport to a private consortium.
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Walmart opens $56M Santurce megastore today
February 27, 2013
Walmart Supercenter Santurce opens its doors to the public at 6 a.m. today and the company expects between 10,000 and 12,000 visitors on its first day of business.
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Puerto Rico starts ’13 with slight increase in bankruptcies
February 27, 2013
Puerto Rico bankruptcies were up 1 percent in January, when 739 cases were filed at the U.S. Bankruptcy Court, research firm Boletín de Puerto Rico disclosed Tuesday.
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Gov’t haul down $67M in Jan., sales tax revenue up 2.6%
February 27, 2013
Puerto Rico Treasury Department collections totaled $665 million in January, a 9 percent, or $67 million, drop from what the government reported during the same month last year, agency Secretary Melba Acosta said Tuesday.
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OfficeMax launches products, services for Puerto Rico small businesses
February 27, 2013
OfficeMax announced Tuesday several new products and services to help small businesses in Puerto Rico find success “in a competitive environment in which entrepreneurs usually need to multitask and take on a variety of roles within their business.”
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FAA clears Aerostar to assume control of San Juan airport
February 26, 2013
Saying the Puerto Rico Ports Authority has the authority to lease the Luis Muñoz Marín Airport in San Juan to Aerostar Airport Holdings, the U.S. Department of Transportation’s Federal Aviation Administration confirmed its approval of the public-private partnership that will officially transfer control of the facility to the consortium.
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SBA announces new Puerto Rico, USVI district director
February 26, 2013
U.S. Small Business Acting Atlantic Regional Administrator Bernard J. Paprocki announced Tuesday the appointment of Yvette Collazo as the new District Director for the SBA’s Puerto Rico and Virgin Islands district office.
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House rejects LMM P3 in scathing report as FAA ruling looms
February 26, 2013
The Puerto Rico House of Representatives wrapped up nearly a month of probing the terms of the public-private partnership agreement proposed for the Luis Muñoz Marín Airport Monday with a scathing report that shoots down any benefit to the deal through which the government would turn over the management of the facility to a private operator.
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