Evertec reports 6% year-over-year revenue growth $118.8M in 3Q19
October 31, 2019
Evertec Inc. announced results for the third quarter ended Sept. 30, which showed that revenue grew 6% to $118.8 million compared with $112.0 million in the prior year. Revenue increase in the quarter reflected growth across all segments and included benefits from value added solutions, new managed services and other pricing actions. Additionally, increased revenue […]
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Ponce Health Sciences University gets $2.6M for behavioral healthcare
September 6, 2019
The Health Resources and Services Administration has awarded $2.6 million to Ponce Health Sciences University’s Primary Care Psychology Program to develop two proposals to train students and professionals to provide behavioral health services and problematic substance use in primary care settings. The Primary Care Psychology Program has been providing mental health services integrated into health […]
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El Distrito entertainment complex names GM, marketing director
September 4, 2019
A Puerto Rican will lead the team that will manage the operations of El Distrito, the main entertainment complex in Puerto Rico, currently under construction in the Convention Center District in Miramar, project developer CEO Federico Stubbe, Jr., said. The head of PRISA Group, one of the partners developing the $125 million complex along with […]
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Treasury reports ‘record’ revenues of $11.3B for FY2019
August 7, 2019
Preliminary net revenues to the General Fund for the recently ended FY2019 totaled $11.3 billion, Puerto Rico Treasury Secretary Francisco Parés-Alicea announced, adding the figure is a “new record number for revenue collections.” On a year-over-year comparison, revenues were up by $2.06 billion, or 22%. In addition, revenues exceeded three projections prepared by the Financial […]
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P.R.’s bankruptcy cases drop 8.2% in July vs. same month in ’18
August 6, 2019
Puerto Rico’s bankruptcy levels showed an 8.26% year-over-year drop last month, when the total number of companies and individuals who turned to the U.S. Bankruptcy Court for help totaled 589 cases, according to data released by research firm Boletín de Puerto Rico. The current number compares to the 642 petitions filed at the local court […]
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Oriental awards $55K in college scholarships
August 6, 2019
Oriental recently granted $55,000 to university students as part of its internal scholarship program for employees’ children. The scholarships aim to benefit students in the areas of Science, Technology, Engineering, Mathematics and Business Administration. “In Oriental we support our employees in their most important investment, and we bet on youth investing in their educational development,” […]
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Georgia’s potential troubles as film mecca could bring windfall to P.R.
May 31, 2019
Puerto Rico’s film industry could stand to win from the controversy stirring in Georgia, where a proposed anti-abortion measure is already causing major Hollywood actors and movie houses to threaten boycotting the state and moving their productions elsewhere if it passes. Georgia is known for the sweeping incentives it offers the film sector, drawing scores […]
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SME study reveals that 1M+ people shop online in and outside P.R.
May 17, 2019
One million people in Puerto Rico shop online, from establishments on and off Puerto Rico, according to the 2019 Digital & Mobile Behavioral Study by the Puerto Rico Sales and Marketing Executives Association. “Conservatively, the estimated amount of spending on online purchases already amounts to $220 million annually and it is important to note that […]
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Demand for independent rentals in P.R. back to pre-María levels
April 30, 2019
Lodging demand on the island during the first quarter of 2019 is on par with levels reported during the same quarter in 2017, 14 months post-hurricane Maria, signaling an “unprecedented pace of recovery” for a destination, Destination Marketing Organization Discover Puerto Rico announced. Total demand for independent rentals is up 72% from first quarter 2017 […]
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Op-Ed: PREPA bond move — Creditors, politicians, enablers pursue deal but not a solution
April 25, 2019
A “business as usual” bond deal is about to be foisted upon Puerto Rico’s ratepayers and fledgling economy. It will result in a $400 million annual cash draw for at least the next 20 years. Think about wasting money on overpriced oil, political appointees and useless consultants over the last twenty years and then paying for […]
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Sally Hansen, Walmart P.R. announce winners of ‘Dale color a tu idea’ contest
April 4, 2019
As part of the campaign “¡Dale color a tu Idea!” Sally Hansen and Walmart Puerto Rico announced the winners of a contest through which participants had the opportunity to submit a business proposal and launch their product with the financial help of both companies. The winning team that submitted their proposals were: Dagmarie Reyes with […]
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P.R. credit unions have 1M+ members, gov.’t regulator says
March 21, 2019
Puerto Rico’s credit unions have more than 1 million members, according to the latest financial and statistical quarterly report presented by the Public Corporation for the Supervision of Puerto Rico Cooperatives, or COSSEC for its initials in Spanish. This achievement is part of the goals set by past Cooperative Development Commissioner, or CDCoop, Ivelisse Torres-Rivera, […]
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U.S. Dept. of Labor recovers $5.6M in back wages for hurricane recovery workers
February 12, 2019
Investigations by the U.S. Department of Labor’s Wage and Hour Division have resulted in the recovery of nearly $5.6 million in back wages and benefits owed to 993 employees of nine subcontractors that provided power generator operation support for hurricane recovery efforts in Puerto Rico, the agency announced. WHD investigators found that the subcontractors violated […]
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Marriott Int’l, Avendra, Walmart work with Clinton Foundation to back P.R. farmers
February 6, 2019
At a meeting of the Clinton Global Initiative Action Network on Post-Disaster Recovery held in Puerto Rico last week, the Clinton Giustra Enterprise Partnership (CGEP) announced a commitment to launch an assessment in Puerto Rico that would evaluate feasibility to increase sourcing from local farmers, connecting new customers and improving incomes for farmers in the […]
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FirstBank looks to secure 20% of market in ’19; will invest $50M in operations
February 5, 2019
Following what he described as a “year of historic performance,” Aurelio Alemán, president of FirstBank —Puerto Rico’s second-largest financial institution — said 2019 the strategy is to maintain a retention and growth strategy to secure 20 percent of the market. To achieve its growth goals, FirstBank plans to invest some $50 million to build on […]
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