FIDECOOP has $40.5M to create, strengthen co-op businesses
September 15, 2020
The Cooperative Development and Investment Fund (FIDECOOP, in Spanish) announced the availability of $40.5 million in funds for the strategic financing of companies organized under the cooperative model, the entity confirmed. This fund is the product of the contributions by credit unions and a co-investment agreement with the government established since 2002. FIDECOOP also provides […]
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PathStone Enterprise Center, LISC donate $375K s to small-, mid-sized businesses
September 15, 2020
PathStone Enterprise Center Inc (PECI) in conjunction with the Rural Local Initiatives Support Corporation (Rural LISC), distributed a total of $375,000 in grants to 62 small and medium business owners to help mitigate the negative economic impact caused by the emergency of COVID-19. The donations come from a grant from the Wells Fargo Works for […]
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Oracle to host seminar on issues affecting Caribbean region
September 15, 2020
At a time when the world has been dealing with multiple crisis situations — environmental, economic, health related — it is imperative that businesses and companies are adequately prepared to face obstacles and continue to operate in times of difficult challenges. To do this, the multinational technology company Oracle has designed a two-hour event aimed […]
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42 Puerto Rican startups set to kick off pre18’s 3rd cohort
September 14, 2020
After an eight-week open call and a comprehensive evaluation process, parallel18 has announced that 42 Puerto Rican startups will participate in the third installment of its pre-acceleration program, pre18, starting Nov. 9th. The business curriculum operates under parallel18’s wing, an international startup entity that supports innovating ventures by helping them grow through two main programs: P18, a global […]
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Foundation for Puerto Rico announces 1st Destination Plan meetings in 4 towns
September 14, 2020
Foundation for Puerto Rico announced plans to hold the first two virtual meetings of the Destination Plan for the regions of Luquillo-Fajardo and Ceiba-Naguabo. These sessions are aimed at community members from the municipalities, as well as nonprofit and/or community organizations and municipal governments, among others, FPR said. The meetings seek to include all community […]
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Marella Cruises will stop in Puerto Rico during ’21 sailing season
September 14, 2020
Marella Cruises — formerly Thomson Cruises — a British cruise line operated by TUI UK, announced its winter sailing schedule, which includes stops in Puerto Rico. In a release, it confirmed 23 new itineraries, 18 new ports of call including Boston, Halong Bay and San Juan, on the Marella Discovery ship, which will homeport in Barbados and will sail to […]
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Puerto Rico residents have filed 2K+ bankruptcy cases since mid-March
September 11, 2020
A total of 2,081 petitions have been filed in Puerto Rico’s bankruptcy courts since Gov. Wanda Vázquez implemented the first lockdown measures related to the COVID-19 pandemic, research firm Boletín de Puerto Rico revealed. The report breaks down weekly filings, showing that the week of May 25-31 reflected the highest number of petitions, at 157 […]
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Puerto Rico’s entertainment industry loses $150M since mid-March
September 11, 2020
Confirming that COVID-19 has represented a $150 million blow and the cancellation of 1,000 performances, Puerto Rico’s entertainment sector asked the government to activate the Recovery Plan presented in May and demanded special attention to the issue of aid and incentives for its workers. The entertainment industry has remained in shutdown mode since the government […]
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Puerto Rico lawyers asked to fill survey on COVID-19 challenges
September 11, 2020
Microjuris.com has opened a call for Puerto Rico’s attorneys to fill out the 2020 edition of the longitudinal study on the legal services market in Puerto Rico, which seeks to continue analyzing the characteristics, trends and challenges of the legal profession, now from the context of the COVID-19 pandemic. “We encourage them to participate and […]
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Integro Foundation raises $120K+ for ‘Feed Puerto Rico’ campaign
September 11, 2020
Integro Foundation, a Puerto Rican nonprofit, raised more than $120,000 for the Food Bank of Puerto Rico through its “Feed Puerto Rico” campaign, which exceeded expectations by 20% and fed more than 12,000 families in need during the COVID-19 pandemic. “Feed Puerto Rico” launched in April, soon after Puerto Rico went into COVID-19 lockdown. The […]
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Facebank International maintains forecast, credit rating during pandemic
September 11, 2020
Facebank International, founded in Puerto Rico in 2006, has maintained its forecast and rating from credit rating agency DBRS Morningstar, even in the midst of the challenges posed by the global COVID-19 pandemic, General Manager Julio Carbonell confirmed. In its most recent review, DBRS “favorably considered Facebank’s strict compliance with U.S. regulatory agencies, its business […]
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Ponce Health Sciences University breaks ground on new $72M campus
September 10, 2020
Ponce Health Sciences University announced the start of the first phase of construction of its new $72 million campus, which will feature multiple study options, laboratories, a 700-seat amphitheater and technology rooms that will promote modern education. Upon completion, PHSU will reportedly become the largest private medical school in Puerto Rico, and will increase the […]
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Puerto Rico Retailers Assoc.: Gov’t, employees have lost $203M during Sunday closings
September 10, 2020
The Puerto Rico Retailers Association (ACDET, in Spanish) again asked Gov. Wanda Vázquez to allow businesses to fully reopen on Sundays, saying losses experienced by workers and the government related to the protracted inactivity are already estimated at $203 million. The closing of some 7,296 retail businesses for some 20 Sundays — in accordance with […]
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PRHTA asks gov’t to allow reopening of recreational, entertainment activities
September 10, 2020
The Puerto Rico Hotel & Tourism Association is urging Gov. Wanda Vázquez to allow expanded tourism-related activities in the next executive order to enable “thousands of employees to return to their workplaces and in this way start moving the economy.” During a news conference, members of the island’s hotel sector called for the opening of […]
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U.S. House Judiciary Committee approves ‘Puerto Rico Recovery Accuracy in Disclosures Act’
September 10, 2020
The U.S. House Judiciary Committee approved legislation authored by Rep. Nydia M. Velázquez (D-NY) aimed at extending to firms working on Puerto Rico’s debt restructuring the same disclosure requirements that apply to companies involved in other bankruptcies. The bill, H.R. 683, is meant to address instances where companies consulting for Financial Oversight and Management Board for Puerto […]
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