US Dept. of Labor extends disaster unemployment assistance for Isaías victims
January 8, 2021
The US Department of Labor announced it has extended the deadline to apply for Disaster Unemployment Assistance (DUA) claims related to Tropical Storm Isaías to Jan. 29, 2021, based on Puerto Rico’s continued recovery from tropical storm impacts. Individuals who were employed or self-employed who live in Aguada, Hormigueros, Mayagüez or Rincón and became unemployed […]
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Puerto Rico Treasury reports $656.1M in net income in November ’20
January 7, 2021
The Puerto Rico Treasury Department reported net income to the General Fund during the month of November — the most recent figures available — totaled $656.1 million. Agency Secretary Francisco Parés confirmed that the figure represented $127.8 million, or 24%, over the monthly projection based on the budgetary method. Meanwhile, collections accrued during the first […]
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Challenge Fitness opens new Santurce location
January 7, 2021
Challenge Fitness announced the opening of its new boutique gym in the Santurce area after an investment of more than $80,000, incorporating strict health measures for the protection of its customers from the COVID-19 pandemic. The new gym has more than 2,000 square feet of space and is segregated into two areas — one dedicated […]
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US Customs reports 175% spike in counterfeit goods seizures
January 6, 2021
US Customs and Border Protection’s (CBP) San Juan Field Office — which is responsible for multiple ports of entry in Puerto Rico and the US Virgin Islands — experienced a 175% growth in the number of counterfeit seizures in Fiscal 2021 to date in contrast to the same period in Fiscal 2020. In Fiscal 2020, […]
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Op-Ed: Credit support for PREPA ‒ a sensible tool or another wasteful gimmick?
January 6, 2021
The week before Christmas, the Financial Oversight and Management Board for Puerto Rico (FOMB) quietly announced a plan for the Commonwealth’s government to loan almost $1 billion to the Puerto Rico Electric Power Authority (PREPA) to facilitate the privatization of the island’s transmission and distribution system. This plan was presented in a poorly documented filing […]
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Toys for Tots gifts 10K toys to children in Puerto Rico
January 6, 2021
Entrepreneur Brock Pierce, along with the US Marine Corps, handed out 5,000 toys to children from different parts of the town of Bayamón, as part of an annual effort by Toys for Tots. The event took place on the eve of Three Kings Day, to benefit underprivileged children in Puerto Rico and across the US […]
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Op-Ed: Which IRA is best for me?
January 5, 2021
To maximize returns on your investment, you will need to choose diversified instruments at terms of five years or more. One of the instruments most commonly used by local investors is Oriental’s Diversified Growth IRA (DGI)1, which also offers the tax relief everyone is looking for when the time comes to file taxes, as every […]
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20/22 Act Society donates $1M+ to 30 Puerto Rico nonprofits
December 31, 2020
The 20/22 Act Society announced a record in the distribution of funds among this year helping more than 30 nonprofit organizations on the island that shared $1,085,000 in 2020. “Since 2013 we have made a strong commitment to support charitable organizations in the Puerto Rican community,” said Robb Rill, founder of The 20/22 Act Society. […]
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USDA opens call for loan, grant applications to support rural microenterprises
December 31, 2020
The US Department of Agriculture has opened a call for applications for loan and grants to support rural microenterprises, through its Rural Microentrepreneur Assistance Program (RMAP). RMAP provides loans and grants to a nonprofit entity or institution of higher education — known as a Microenterprise Development Organization (MDO) — to establish revolving loan funds to […]
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Social and Solidarity Economy Network anticipates ‘more disruption’ in ’21
December 30, 2020
The Puerto Rico Social and Solidarity Economy Network’s (Red ESSPR, in Spanish) development agenda for 2021 will include increasing the scope of its efforts to facilitate more alliances across economic sectors, educate the community, and strengthen a dozen initiatives carried out this year, among them trade exchanges, financial agreements, and national representation in international events. […]
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L’Oréal Caribe launches recycling project for beauty salons in Puerto Rico
December 30, 2020
L’Oréal Caribe has launched a pilot project to promote plastic recycling in beauty salons in Puerto Rico, as part of its L’Oréal for the Future sustainability program. “Aligned with L’Oréal’s new global sustainability guidelines and commitments, we’re working on an action plan for our market in Puerto Rico and the Caribbean islands, to contribute to […]
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Castañer community included in Puerto Rican Solar Business accelerator program
December 30, 2020
The Puerto Rican Solar Business Accelerator, a program run by nonprofit The Solar Foundation, recently selected the Castañer community to develop an energy microgrid under the US Economic Development Administration’s Community Microgrid pilot program. Castañer is an agricultural community that is isolated and lacking in resilient energy. Due to its location, this community — which borders […]
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Puerto Rico credit unions could dip into $3B federal revitalization fund
December 29, 2020
The Public Corporation for the Supervision and Insurance of Puerto Rico Cooperatives (COSSEC, in Spanish) confirmed that local credit unions will be able to access some $3 billion in budgetary allocations included in the new federal economic stimulus package that seeks to revitalize communities with low and moderate resources. The federal funding bill allocates $3 […]
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Economic Dev’t unveils new Manufacturing Coincident Indicators Index
December 29, 2020
The Department of Economic Development and Commerce unveiled a new Manufacturing Coincident Indicators Index, a new metrics and analysis tool to illustrate the sector’s economic activity, which agency Secretary Manuel Laboy said reflects that the industry is maintaining a recovery rate. “The most recent report corresponding to October 2020 showed that manufacturing continues to gain […]
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Op-Ed: Liberty Puerto Rico wraps up ‘challenging year’ on positive note
December 29, 2020
This year brought us tough challenges and major achievements. Looking back, I feel very proud of our employees and how we handled this historic year. We shifted our operating model quickly and adapted to a new and completely unexpected scenario. Overall, Liberty was very successful in providing connectivity and entertainment when it was most needed. […]
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