Housing and Urban Development, P.R. ink $1.5B disaster recovery grant agreement
September 21, 2018
The signing of the grant agreement now paves the way to speed recovery dollars needed to restore damaged and destroyed homes, businesses and infrastructure.
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P.R. Senate runs marathon hearing to gather input for PREPA transformation
August 31, 2018
Breaking from following the usual pattern of filing a bill, then holding public hearings, Committee Chairman Larry Seilhamer and Sen. Eduardo Bhatia heard expert recommendations to then submit the draft regulatory framework.
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Parallel18’s 2nd-year results show latest participants generated $24.5M in sales
August 31, 2018
A third of those transactions were related to their operations in Puerto Rico, according to the results of the international acceleration program.
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Caribbean Cinemas confirms premium theaters for Plaza Carolina
August 31, 2018
The IMAX and CXC theaters will have giant 70-foot and 60-foot wide screens, respectively.
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P.R. Tourism Co., ALICE partner to develop trip planning app
August 28, 2018
ALICE, a hospitality industry operations platform, has partnered with the Puerto Rico Tourism Co. and Roca Marketing to develop a destination concierge service and trip planning platform available to every hotel and visitor.
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Tourism Co. partners with Beautiful Destinations to stage P.R.’s comeback
August 16, 2018
Looking to erase the perception that Puerto Rico has not yet recovered from Hurricane María, the Puerto Rico Tourism Co. has partnered with Beautiful Destinations to reach some 20 million of the platforms users with a portfolio of "comeback" photos and videos.
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U.S. Dept. of Commerce invests $4.9M to support projects in P.R.
August 16, 2018
U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration is awarding $4.9 million in grants to companies throughout Puerto Rico, to support technology startups and manufacturing,
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Former Telecom Board chief re-nominated to top ICANN council
August 3, 2018
Javier Rúa-Jovet, the former chairman of Puerto Rico’s Telecommunications Regulatory Board, and currently a private attorney in the renewable energy and ICT fields, was ratified for a second term by the ICANN.
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Popular closes deal on Reliable Auto, Wells Fargo’s car finance business in P.R.
August 1, 2018
Some six months after announcing its intentions, Popular Auto has completed the acquisition of certain assets and the assumption of certain liabilities related to Wells Fargo & Company’s auto finance business in Puerto Rico — Reliable Auto.
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IEEFA: Effects of oil-purchase scandal undermine PREPA privatization, contract-reform initiatives
July 19, 2018
A long-running practice in which Puerto Rico’s public utility bought low-quality oil at high-quality prices has been mostly ignored in Gov. Ricardo Rosselló’s privatization of the Puerto Rico Electric Power Authority (PREPA), the Institute for Energy Economics and Financial Analysis claimed.
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Rosselló taps former PRASA chief Ortiz to head Puerto Rico Electric Power Authority
July 19, 2018
Puerto Rico Gov. Ricardo Rosselló announced the appointment of José Ortiz as the new executive director of the Puerto Rico Electric Power Authority.
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Report finds retail prices in P.R. unaffected by Jones Act
July 19, 2018
Economists from Boston-based Reeve & Associates and San Juan-based Estudios Técnicos Inc. released a joint report, “The Impact of the Jones Act on Puerto Rico,” that concluded the Jones Act has no impact on either retail prices or the cost of living in Puerto Rico.
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$700K Cannalytics Bioscience Labs opens in San Juan
July 19, 2018
Cannalytics, LLC. a local provider of cannabis testing and scientific research for the regulated cannabis industry in Puerto, announced the opening of its independently-owned facilities in San Juan, with a related $700,000 investment.
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Evertec gets nod for support to P.R. businesses after Hurricane María
June 28, 2018
The Puerto Rico Chamber of Commerce (CofC) bestowed its President’s Special Award to Evertec Inc. for the “outstanding and timely support offered to the business sector after Hurricane María.” The recognition was awarded during the CofC’s gala dinner, which included a special certificate by Puerto Rico Resident Commissioner Jennifer Gonzalez, for Evertec’s work. “We at […]
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Financial services company focuses on retaining local talent
June 27, 2018
Trust MD Corp., a Puerto Rican company specialized on advising on financial services, recently launched an educational division focused on retaining local talent. The company seeks graduate students to provide employment alternatives on the island, company executives said. Trust MD identified an opportunity for finance, economics, law and accounting students to stay on the island […]
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