Dept. of Transportation unveils initiative for emergency license, ID renewals
June 1, 2020
The Department of Transportation and Public Works (DTOP, in Spanish) announced an initiative to help residents who need current documents for emergency travel, medical treatments, vehicle exports, among others, during the shutdown of the government’s Driver Service Centers (CESCO, in Spanish). The special procedure will allow CESCO staff, “who have been provided with the necessary […]
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Labor Dept. moves jobless benefits ‘drive-up’ service to Convention Center
June 1, 2020
Starting today, the Puerto Rico Labor Department is moving its “drive-up” unemployment benefits document drop-off service to the Puerto Rico Convention Center in the Miramar sector of San Juan, agency Secretary Briseida Torres said. “Given the reopening of business activity and the need to provide a more efficient service to applicants, we decided to move […]
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Impactivo, Day Health Strategies partner to support healthcare providers
June 1, 2020
Impactivo and Day Health Strategies (DHS) have joined efforts to assist the nation’s primary healthcare providers and enable them to move forward in a world changed by COVID-19. The consultancies have partnered with researchers and practitioners nationwide to inform their newly launched “at-home healthcare solution” in the recently released white paper entitled, “Primary Care Transformation […]
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Vimenti grants special $100 incentive to its participating families
June 1, 2020
Looking to help mitigate the economic effects that the COVID-19-related quarantine has caused, Vimenti by Boys & Girls Clubs of Puerto Rico provided the families of the project with an economic incentive of $100. The aid was delivered at Vimenti School along with the lunch that the project provides to their families twice a week, […]
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Economic impact of COVID-19 virus in Puerto Rico revised upward
May 29, 2020
The direct impact of the COVID-19 emergency on Puerto Rico’s economy has been revised upward to $9.7 billion, from an initial $6.9 billion, economic analysis firm Estudios Técnicos revealed. The 40.5% increase responds to an update of the parameters associated with the lockdown period and the month-equivalent magnitude of the initial impacts, the firm said. […]
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SBA, Treasury Department announce $10B for CDFIs to participate in PPP
May 29, 2020
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and […]
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Emergency communications systems, P.R. Police get $1.6M from FEMA
May 29, 2020
Communications systems used to handle emergencies on the island as well as several Puerto Rico Police buildings will benefit from more than $1.6 million in grants awarded under the Federal Emergency Management Agency’s Public Assistance program, the agency announced. The funds will help those in uniform to continue providing vital safety services to communities, it […]
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Heineken commits $500K to drive reopening of small businesses affected by lockdown
May 29, 2020
Heineken announced an initiative with which it has committed to invest $500,000 to support small local cold consumption businesses affected by the lockdown of businesses due to the COVID-19 pandemic in Puerto Rico. Through the “Heineken Invita” initiative, the gradual reopening of local establishments will be promoted, offering them resources that include product and promotional […]
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Lemonade Day Puerto Rico announces free virtual summer program
May 29, 2020
Lemonade Day Puerto Rico, a business education program that teaches young people how to plan and operate their own businesses, announced its virtual business education program for this summer, the Lemonade 2020 Virtual Summer. The summer program will offer enrolled children and family access to ten virtual workshops and online videos that support the lessons […]
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Albizu University gets interstate approval to offer distance education
May 29, 2020
Albizu University, which has campuses in San Juan and Miami, as well as a University Center in Mayagüez, has just been accepted as a member of the National Council for State Authorization Reciprocity Agreements (NC-SARA) to offer distance learning courses across the U.S. mainland. “We’re marking an important milestone in our development as a university […]
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Popular Inc. wraps up $500M accelerated share repurchase transaction
May 28, 2020
Popular Inc. announced the completion of its $500 million accelerated common stock repurchase transaction announced for 2020. The completion came earlier than expected, as the counterparty in the transaction exercised its right under the agreement to implement the early termination date clause when the trading price of Popular’s common stock fell below a specified level […]
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USDA grants $2.2M loan to town of Cabo Rojo to improve landfill operation
May 28, 2020
The U.S. Department of Agriculture announced it has approved a $2.2 million loan to the municipality of Cabo Rojo, to improve the town’s landfill operations. The assignment is part of a global $281 million that the federal agency is investing in 106 rural water and wastewater infrastructure improvement projects in 36 states and Puerto Rico, […]
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New York Fed announces new format for ‘High School Fed Challenge’
May 28, 2020
The Federal Reserve Bank of New York today announced a new format for the “High School Fed Challenge,” an annual competition designed to enhance and promote economic education. Any high school in the Federal Reserve’s second district — which includes New York State, Northern New Jersey, Puerto Rico, the U.S. Virgin Islands, and Fairfield County, […]
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Labor groups present recommendations to governor to protect workers
May 28, 2020
The Puerto Rico Workers Federation, AFL-CIO, headed a group of about 35 unions who met with Gov. Wanda Vázquez and administration officials to present a list of suggestions to “ensure the health and safety of all workers” as the island’s economy reopens amid the COVID-19 health crisis. During a meeting at the Puerto Rico Convention […]
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Op-Ed: Contracts in times of pandemic
May 28, 2020
The COVID-19 pandemic has brought disorientation and confusion on all fronts, and one of them is the business legal arena, and what’s applicable and what isn’t in a situation as unique as this. From huge business transactions to everyday ordinary ones, everything seems unclear. For example, in recent days we have heard complaints from many […]
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