National, MBIA Insurance sue Wall Street banks for role in P.R.’s fiscal crisis
August 8, 2019
National Public Finance Guarantee Corporation and MBIA Insurance Corporation filed suit in the San Juan Superior Court against eight Wall Street banks to hold them accountable for “inequitable conduct in Puerto Rico’s municipal bond market that contributed to Puerto Rico’s economic collapse.” Plaintiffs are bond insurers that have been presented with more than $1 billion […]
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Liberty Puerto Rico posts $103.8M in 2Q19 revenue
August 8, 2019
Liberty Puerto Rico reported consistent revenue and subscriber growth for the second quarter of the year, according to its financial results report. The company added more than 5,000 customers this quarter, driven by its growth in high speed data subscribers. Liberty’s second quarter 2019 revenue stands at $103.8 million, which represents a 5.3% increase from […]
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Entrepreneurs of innovative company HYP3R join Endeavor’s global network
August 8, 2019
Entrepreneurs Carlos García and Leandro Armas, leaders of HYP3R, were admitted to Endeavor’s global network as part of the new group of Endeavor Entrepreneurs selected this summer in Tokyo, Japan, Erika Medina-Vecchini, Managing Director of Endeavor Puerto Rico announced. The partners at HYP3R, one of the most innovative technology companies in the tourism sector, are […]
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P.R. pursues expansion of hotel development pipeline at Caribbean Hospitality Summit
August 8, 2019
Business leaders and government officials representing Puerto Rico, Dominica and St. Maarten spoke about their respective recovery and resiliency strategies during the Bisnow Caribbean Hospitality and Tourism Summit held Aug. 1, 2019 in Miami. The event sponsored by the Puerto Rico Builders Association drew more than 200 investors, developers, hotel operators and other industry professionals. […]
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P.R.’s economic activity drops 0.7% in June ’19 vs. same month in ’18
August 8, 2019
Puerto Rico’s Economic Activity Index — which measures the performance of key indicators — showed a 0.7% year-over-year drop in June 2019, according to the data released by the Economic Development Bank. This was the first year-over-year decrease after 11 months of consecutive increases, the report showed. According to the document, the annual comparison is […]
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Op-Ed: Federal government fails Puerto Rico — again!
August 8, 2019
2017 was a terrible year. Some of the largest hurricanes in U.S. history, along with devastating wildfires in California and elsewhere, provided a clear indicator of the ravages we can expect from the climate crisis. Thousands of Americans lost their homes, their belongings, their livelihoods, even their lives. In response, Congress appropriated $587 million to […]
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REAL CHANGE?
August 8, 2019
Did I miss something? Did we not just experience a “revolution” to throw out the governing elite? Didn’t the citizens of Puerto Rico rise up to demand better leaders? Didn’t we say we wanted more transparency? Didn’t we stipulate we must have real accountability? Didn’t we refuse to accept corruption? Apparently not, since we seem […]
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United Retailers Association launches ‘CUD Start Your Business’ program
August 8, 2019
Several years after considering the idea, the United Retailers Association officially launched its business school program, which is complemented by the CUD Start Your Business initiative. The trade group known as the CUD for its initials in Spanish confirmed 70 new entrepreneurs will be able to enter the competition for free due to a partnership […]
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Ex-Gov. Rosselló signed laws limiting constitutional right of access to information
August 7, 2019
On the eve of becoming Puerto Rico’s first governor to resign from his post, Ricardo Rosselló signed a pair of laws whose net effect is to hinder access to public information and limit free expression, nonprofit group Open Spaces denounced. Cecille Blondet, executive director of Open Spaces said Rosselló stamped his signature on Acts 122 […]
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Columbia Care to enter P.R. medicinal cannabis market
August 7, 2019
Columbia Care Inc. has received approval from the Puerto Rico Department of Health to open for business, with a medicinal cannabis dispensary in San Juan and 25,000 square-foot cultivation and manufacturing operation in Cidra. The 2,800 square-foot San Juan clinic and its Cidra facility are scheduled to open this month, with two additional dispensaries expected […]
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Op-Ed: P.R. crisis — Oversight Board failed to do its job
August 7, 2019
The Puerto Rico Financial Oversight and Management Board has remained fairly quiet during the last several weeks of turmoil and massive demonstrations that have rocked Puerto Rico in protest over the corruption of the [Ricardo] Rosselló administration. On July 23rd, the Board issued a press release stating that, “The people of Puerto Rico deserve a […]
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FirstBank debuts Digital Banking platform with Mobile Express Deposit
August 7, 2019
FirstBank is launching its new digital and mobile banking platform called “Digital Banking,” which offers customers more features and increased security to manage their banking. To access, customers must log in via [email protected]. Some of the benefits of Digital Banking are: greater levels of security, with a superior authentication process for keeping personal information safe; […]
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Evertec partners with Citi for regional expansion of collection platform
August 7, 2019
Evertec Inc. announced it has expanded its regional collection and payment platform with Citi to include Mexico through Citibanamex. This platform, which serves Citi’s corporate treasury clients, is already live in Colombia and in Guatemala, it announced. “We’re pleased to be Citi’s partner with this solution to simplify the collection process for regional corporations and […]
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Chemesis Int’l Inc. to pick up P.R.’s largest medicinal cannabis dispensary network
August 6, 2019
Chemesis International Inc. has entered into an agreement to buy a majority of the shares of GSRX, which has five medicinal cannabis dispensaries in Puerto Rico, the companies announced. The transaction calls for Chemesis to acquire more than 42.6 million common shares and 1,000 preferred shares of GSRX, in exchange for an some 18.9 million […]
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Nearly 200 students participate in 3rd edition of Virtual Reality Summer Bootcamp
August 6, 2019
The 2019 Virtual Reality Summer Summer Camp, hosted by the Puerto Rico Science, Technology and Research Trust, ended successfully on Aug. 2, benefitting some 200 students from public and private schools. Middle and high-school students, including home-schooled kids, took part in the program split between 39% females and 61% males in the Ponce and San […]
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