25 film projects worth $148M in investments set to roll in Puerto Rico
July 9, 2020
Twenty-five romance, comedy and action films representing $148 million in investments are slated to roll in Puerto Rico beginning in the second half of this year, Department of Economic Development and Commerce Secretary Manuel Laboy confirmed. The productions are backed by the agency’s Film Industry Development Program. “This second semester of the year has a […]
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$3.6M improvements at Ceiba regional airport take flight
July 9, 2020
The Puerto Rico Ports Authority confirmed the start of runway pavement improvements at the José Aponte de la Torre regional airport in Ceiba, at a cost of some $3.6 million. Agency Executive Director Joel A. Pizá-Batiz said the project was deemed necessary as part of a pavement inspection program at all airports under its jurisdiction, […]
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Op-Ed: US DOJ issues updated int.’l anti-corruption guidance for corporations
July 9, 2020
In 2012, the U.S. Department of Justice (DOJ) issued a Resource Guide of the Foreign Corrupt Practices Act (FCPA). Since then, much has happened in the landscape of investigations and enforcement actions against corporations doing business in the United States. For starters, in 2018 the agency changed its policy from fighting corporate fraud and misconduct […]
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Brasas Buffet restaurant opens in Villalba after $180,000 investment
July 9, 2020
Brasas Buffet restaurant will open its doors in the town of Villalba this week, featuring a menu of BBQ-grilled meats and a buffet, following an investment of $180,000, the establishment’s owners said. “Villalba will have a buffet food offer for the first time,” said Owner Jorge Negrón. “We want to offer our visitors a variety […]
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Aerostar boosts protection measures at LMM airport ahead of tourism reopening
July 8, 2020
Faced with the worldwide threat posed by COVID-19, Aerostar Airports, a company that operates the Luis Muñoz Marín International Airport, has boosted security and prevention measures to protect visitors, employees and its community, company executives confirmed. During a tour of Puerto Rico’s main airport facility, Aerostar CEO Jorge Hernández said the goal is to turn […]
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Puerto Rican startup turns to unconventional data to gauge economic effect of COVID-19
July 8, 2020
Given the lack of up-to-date data for Puerto Rico’s economic activity, local startup Abexus Analytics has turned to unconventional data sources to gauge the performance of the economy during the COVID-19 crisis. The findings are included in a report titled “The Economy is not reserved for Economists,” which takes a technical tour of the issues […]
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Puerto Rico gov’t opens RFQ for $300M thermal ocean energy project in Yabucoa
July 8, 2020
The Department of Economic Development and Commerce opened the call for Request for Qualifications to identify potential candidates to develop the proposed $300 million Puerto Rico Ocean Technology Complex (PROTech) in Yabucoa. Economic Development Secretary Manuel Laboy unveiled the master plan for the project that also involves the Puerto Rico Land Administration. “PROTech is an […]
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FEMA assigns $18.5M+ in additional funds for 77 recovery projects in Puerto Rico
July 8, 2020
Reconstruction projects in Puerto Rico for Hurricane María recovery efforts continue with the assignment of more than $18.5 million in additional funds for 77 projects approved by the Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction, and Resilience, or COR3. The funds were awarded between June 26 and July 1, of which […]
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Op-Ed: Developing startups via tech innovation key to Puerto Rico’s progress
July 8, 2020
Technological innovations not only transform, evolve and improve certain products or services; they also drive economic growth. To achieve such innovation, companies need to walk the talk and pave the road to success for other entrepreneurs in their economic landscape. Some actions in that direction include promoting good concepts, enabling support networks and providing adequate […]
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Puerto Rico drivers given extra time to renew expired licenses, IDs
July 8, 2020
The Department of Transportation and Public Works announced the signing of an order to extend the validity of Puerto Rico driver’s licenses and identifications that expired during this year, in a phased manner. Transportation Secretary Carlos M. Contreras said approving Resolution 2020-15 gives island residents holding expired licenses “enough time to get their appointment and […]
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Mall operator’s association urges members to ‘strictly comply’ with COVID-19 protocol
July 8, 2020
The Puerto Rican Shopping Centers Association called on its 46 member malls to continue to be “very strict” about enforcing protocols to prevent COVID-19 contagion following a spike in cases. “In recent days the Health Department has reported a significant increase in the number of infections,” said Adolfo “Tito” González, presidente of the trade group […]
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SBA backs $741M+ in PPP loans of up to $150K in Puerto Rico
July 7, 2020
The U.S. Small Business Administration and the U.S. Department of Treasury released Paycheck Protection Program Loan data that revealed that since the start of the program in April, local banks have processed some 35,896 loans for up to $150,000 totaling $741.4 million so far. The detailed loan-level data for Puerto Rico shows that more than […]
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EDIC College merges with Columbia Central University
July 7, 2020
EDIC College in Caguas, a university with a focus on health sciences, has merged with Columbia Central University, EDIC’s parent company Philadelphia-based investment firm Renovus Capital Partners confirmed. The combined institution will operate under the Columbia Central University brand and will continue to serve more than 2,000 students from its four physical campuses and online […]
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Ports Authority launches $1.8M roof repair project at Vieques airport
July 7, 2020
The Puerto Rico Ports Authority began the permanent roof repair project at the Antonio Rivera Rodríguez regional airport terminal in Vieques, agency Executive Director Joel A. Pizá-Batiz announced. The airport, the only one in Vieques, connects the island municipality, through commercial flights to the municipalities of Ceiba, Carolina and San Juan, and to other Caribbean […]
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Puerto Rico airline passenger traffic drops 75.9% in June
July 7, 2020
Passenger traffic at the Luis Muñoz Marín International Airport decreased 75.9% in Puerto Rico in June, impacted by severe downturns in business and leisure travel stemming from the COVID-19 pandemic, the airport’s operator announced. Grupo Aeroportuario del Sureste, or ASUR, the parent company of Aerostar — which runs Puerto Rico’s main airport — revealed that […]
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