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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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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CBP in San Juan seizes shipment of counterfeit alloy wheels
May 28, 2020
U.S. Customs and Border Protection San Juan Field Operations announced Tuesday the seizure of a shipment consisting of 844 counterfeit alloy car wheels imported into Puerto Rico. The estimated manufacturer suggested retail price of all the counterfeit products seized is approximately $238,000, had the goods been genuine, the CBP said. “Purchasing knock-offs of high-end, […]
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Oversight Board’s ’20 Fiscal Plan proposes 1-yr. pause on gov’t rightsizing
May 27, 2020
The Financial Oversight and Management Board for Puerto Rico today presented the 2020 Fiscal Plan for the Commonwealth of Puerto Rico for certification, which calls for, among other actions, a one-year delay in most government rightsizing activity to allow it to focus on structural reforms and efficiency measures. The document will be up for the […]
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Liberty Puerto Rico issues $90M in debt to fund AT&T acquisition
May 27, 2020
Liberty Latin America Ltd. announced that its subsidiary, Liberty Puerto Rico has issued $90 million in senior secured notes to support the funding needed for its acquisition of AT&T Puerto Rico’s assets on the island and the U.S. Virgin Islands. The sale of additional 6.75% Senior Secured Notes due 2027 was executed on a private […]
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PRFAA Florida launches website to support Puerto Rican residents
May 27, 2020
The Puerto Rico Federal Affairs Administration launched a virtual booking website to “better serve” the 1.2 million Puerto Ricans currently residing in the state in Florida through the COVID-19 crisis. The website will allow the Puerto Rican community in Florida to request an appointment in real-time and receive in-person services offered by the center located […]
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Ports Authority opens bids for $11M in improvement to Culebra, Arecibo airports
May 26, 2020
The Puerto Rico Ports Authority will open bidding processes to make needed improvements to the Culebra and Arecibo regional airports, representing a combined investment of some $11 million, the Interim Executive Director of Ports, Joel A. Pizá-Batiz, said. “Ports conducted a pavement inspection program at every airport, including Culebra and Arecibo, evaluating conditions according to […]
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Puerto Rican agencies launch SPYN.LIVE, a virtual concert platform
May 26, 2020
DDB Latina Puerto Rico and Buena Vibra Group announce the creation of the SPYN.LIVE platform, a digital tool that will change the entertainment industry. SPYN.LIVE will allow the consumer to live the experience of a virtual concert that will feature the traditional elements of face-to-face shows such as lights, screens, pyrotechnics, dancers and musicians, among […]
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Op-Ed: Global warming is the biggest security threat for Puerto Rico
May 26, 2020
I’m sure that many folks reading this publication might consider that my headline is just an utter exaggeration. Nonetheless, as the COVID19 pandemic ravages the globe and the specter of another drought in Puerto Rico starts to worry an already distressed populace, my assertion seems to be not all that absurd. We can’t forget that […]
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Local personalities join Food Bank of Puerto Rico fundraising campaign
May 26, 2020
“Dollar for Dollar against Hunger” is the new campaign launched by the Food Bank of Puerto Rico to continue its urgent mission of mitigating hunger in the midst of the COVID-19 pandemic and effectively facing the next hurricane season, the nonprofit said. The Food Bank launched an online campaign featuring a number of videos with […]
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Puerto Rico Hotel & Tourism Association asks gov’t for reopening plan
May 22, 2020
The Puerto Rico Hotel & Tourism Association confirmed that tourism and organization members are “ready for the staggered opening proposed by the government, and are ready to implement the necessary precautionary measures,” the group’s President Clarisa Jiménez said. “Since we’re aware that there will be a staggered reopening by the government for economic activities, we […]
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USDA to provide $1B in loan guarantees for rural businesses, ag producers
May 22, 2020
U.S. Secretary of Agriculture Sonny Perdue today announced that the agency is making available up to $1 billion in loan guarantees to help rural businesses meet their working capital needs during the coronavirus pandemic. Additionally, agricultural producers that are not eligible for USDA Farm Service Agency loans may receive funding under USDA Business & Industry […]
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Colmena66 survey reveals 86% of Puerto Rico businesses unprepared for emergencies
May 22, 2020
Colmena66, a program of the Puerto Rico Science, Technology and Research Trust, shared the results of its “Levanta tu Negocio Puerto Rico” survey, which among other things, revealed that 86% of participating businesses lack a contingency fund for unforeseen situations. The survey began on Mar. 20 and during the first five weeks, 625 responses were […]
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Statistics Institute, League of Cities partner to share efforts, resources
May 22, 2020
The Puerto Rico Institute of Statistics and the Puerto Rico League of Cities signed a collaboration agreement to share efforts and resources to increase knowledge and understanding among municipal employees on statistical methodologies, data use and management. The League of Cities — represented by Executive Director Cristina M. Miranda-Palacios — is a nonprofit that unites […]
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Aon report: Benefit packages get ‘increasingly robust’ to attract and retain employees
May 21, 2020
At a time when the workforce is undergoing great changes and facing new challenges, a new report by professional services company Aon unveiled the current state of Puerto Rico’s benefits strategies and programs. The Puerto Rico Benefits Outlook 2019: Redefining Benefits study surveyed 85 organizations from several business sectors and sizes participated, such as: manufacturing; […]
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