FEMA names Baquero as permanent federal coordinator for Puerto Rico recovery operations
September 1, 2020
The Federal Emergency Management Agency announced the appointment of José G. Baquero as the Federal Disaster Recovery Coordinator for disaster recovery operations in Puerto Rico and the U.S. Virgin Islands. Baquero will permanently lead disaster recovery coordination and collaboration between the federal interagency and the government of Puerto Rico, the private sector and voluntary, faith-based […]
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PenFed Credit Union opens $1.9M branch in Ponce
September 1, 2020
PenFed Credit Union announced the opening of its new financial center at Plaza Del Caribe Mall in Ponce, after a $1.9 million investment. The new 4,500-square-foot financial center creates 11 jobs in the Ponce community and provides “tens of thousands of residents in south-central Puerto Rico access to some of the best checking, savings, certificate and loan […]
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Op-Ed: Workers’ claims against employers on the rise, exposing their businesses
September 1, 2020
Founded or unfounded, the number of complaints filed against companies alleging employment related claims are on the rise. Due to the duality of jurisdictions under which our employer-employment laws operate, the multiplicity of rules and regulations, and a continually changing environment, there is ample room for labor complaints to come forward, exposing employers to significant […]
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Puerto Rican Endowment for the Humanities awards $265K to 27 nonprofits hit by pandemic
September 1, 2020
Committed to alleviating the economic impact of the COVID-19 pandemic, the Puerto Rican Endowment for the Humanities (FPH, in Spanish) awarded a total of $265,000 in special donations to 27 cultural organizations with humanistic purposes that have been affected by the crisis. The allocated funds were provided by a special CARES Act allocation, channeled through […]
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Vázquez signs law to enable use of e-docs in gov’t billing, payments
August 31, 2020
Gov. Wanda Vázquez has signed Senate Bill 1649 to amend the Puerto Rico Government Accounting Act to allow the use of electronic documents in the billing, processing and payment of a government obligation. This measure is consistent with the approval and implementation of the laws on the evolution of new information technologies and telecommunications, which […]
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Op-Ed: Will U.S. gov’t attempts to curb China’s influence hurt Puerto Rico?
August 31, 2020
The U.S. government is increasingly becoming aware of the challenges of China’s entrance in the Caribbean with their Belts and Roads Initiative. Some of China’s infrastructure logistics development projects will be designed with a military/civilian dual-use in strategic areas. Also, China’s economic proposals aim to gain political soft power, in an area that is considered the […]
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UPR-Mayagüez’s NSF I-Corps seeks researchers, entrepreneurs
August 31, 2020
The National Science Foundation’s Innovation-Corps Site based at the University of Puerto Rico’s Mayagüez campus is looking for researchers, engineers, scientists, and general entrepreneurs who have research-based technology, product ideas, or technology applications and want to evaluate the potential to go commercial. The goal is to help them lock down entrepreneurial skills through training in the […]
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Puerto Rico’s Economic Activity Index reflects YoY drops in May and June
August 28, 2020
Puerto Rico’s Economic Activity Index for May and June 2020, which reached levels of 109.7 and 108.8, respectively, reflect month-on-month reductions of 3.5% and 0.8% and decreases of 10.2% and 10.8% when compared with the same months of the previous year. The separate monthly reports published by the Puerto Rico Economic Development Bank are the […]
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Abexus Analytics unveils Google-based mobility tool that could shape COVID-19 strategies
August 27, 2020
Puerto Rico-based business intelligence firm Abexus Analytics has developed and made freely available the Abexus Mobility Insights tool, which tracks cellphone data using Google Mobility’s database and could help the government establish public policy related to the COVID-19 pandemic. The tool follows how island residents move across all 78 towns and has already produced multiple […]
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Institutional fraud represents $2.4B in losses for Puerto Rico’s economy
August 27, 2020
Institutional fraud takes a $2.4 billion bite out of Puerto Rico’s economy, representing at least 3.5% of gross revenue, according to the “Portrait of Fraud in Puerto Rico 2020” study revealed by the Puerto Rico Society of CPAs. “The term occupational fraud can be defined as those acts committed by employees with the objective of […]
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FEMA invests $2.6M in Puerto Rico’s agriculture sector
August 27, 2020
Puerto Rico’s agricultural industry is preparing to receive more than $2.6 million from the Federal Emergency Management Agency and the Central Office of Recovery, Reconstruction and Resilience of Puerto Rico, or COR3, to continue recovery after Hurricane María. The sector lost 40% of its infrastructure following the 2017 storm. Among the obligations is $1.4 million to repair the […]
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UPR assigns $40.5M to provide tech equipment to professors, students
August 27, 2020
The University of Puerto Rico will distribute a total of $40.5 million in technological equipment and financial incentives to professors, students and administrative staff as part of its plan to improve the online educational experience and support the university community during the COVID-19 pandemic. UPR President Jorge Haddock said the aid will be granted through […]
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Ron del Barrilito maker investing $12M to increase production, exports
August 27, 2020
A $12-million expansion plan is underway for Ron del Barrilito, to increase production and exports, said Eduardo Bacardí, sales and marketing director for producer Edmundo B. Fernández Inc. The investment will help increase production volume by 400%, he said. “This expansion phase takes us to a higher level by increasing our production, storage, and aging […]
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ConPRmetidos opens grant cycle for personal finance education program
August 27, 2020
The events of 2020 — the January earthquakes and the onset of the COVID-19 pandemic — has spurred nonprofit organization ConPRmetidos to launch a grant program to help 500 Puerto Rican families learn how to transform their personal finances through the “Claridad Financiera” course. The nonprofit is known for developing social impact projects in sectors […]
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Puerto Rico Ports Authority invests $517K in new vehicle fleet
August 27, 2020
At a cost of $517,043 in federal and agency-generated funds, the Puerto Rico Ports Authority announced the acquisition of a new fleet of 17 vehicles for several operational areas, agency Executive director Joel A. Pizá-Batiz announced. Noting that the agency had not made a considerable investment in new vehicles since 2002, Pizá-Batiz said the Ports […]
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