P.R. Community Foundation awards $95K in grants to Vieques, Culebra nonprofits
July 1, 2019
Seven nonprofit organizations in Vieques and Culebra received $95,000 in donations from the Hispanic Federation of Puerto Rico Recovery and Relief Fund, established by the Hispanic Federation in the Puerto Rico Community Foundation, to promote economic development and the conservation of the environment in both island municipalities. The organizations benefited in Vieques are: Vieques en […]
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Silver Airlines/Seaborne Airlines, Crowley name new execs in P.R.
July 1, 2019
A trio of executives has been named to new posts at Silver Airways and Seaborne Airlines and Crowley logistics, to serve the Puerto Rico market, the companies announced. Silver Airways and Seaborne Airlines have new VP Silver Airways has promoted Captain Jesús Medina to vice president of the Caribbean for Silver Airways and Seaborne Airlines. Medina […]
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Evertec to enter Chilean payments market through agreement with Banco Santander Chile
June 28, 2019
Evertec Inc. announced the signing of an agreement with Banco Santander Chile under which the Puerto Rican firm will provide acquiring processing services as well as other solutions and regional expertise as Banco Santander enters the merchant acquiring business in Chile. “We’re extremely pleased to provide our products and services to Banco Santander, the first […]
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Workers in P.R.’s metro area earned 42% less an hour vs. U.S. counterparts
June 28, 2019
Workers in the San Juan-Carolina-Caguas Metropolitan Statistical Area had an average (mean) hourly wage of $14.61 in May 2018, about 42% below the United States average of $24.98, the U.S. Bureau of Labor Statistics said Thursday. Chief Regional Economist Martin Kohli noted that, after testing for statistical significance, wages in the local area were lower […]
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Op-Ed: The far-reaching effects if P.R. snubs precedent and the rule of law
June 28, 2019
The current Financial Oversight and Management Board for Puerto Rico is attempting to invalidate more than $6 billion of general obligation bonds and to initiate clawbacks of principal and interest payments to bondholders. It claims that the bonds were issued in excess of a Puerto Rico constitutional debt limit, notwithstanding the Commonwealth’s specific representations to […]
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Congressmen ask for funds disbursement to rebuild electrical grid in P.R/USVI
June 28, 2019
U.S. Congressman Darren Soto (FL-09) led a bipartisan, bicameral letter signed by 47 members of Congress to President Trump’s Administration requesting the disbursement of funds, which were already appropriated, to improve and build a more resilient electric grid in Puerto Rico and the U.S. Virgin Islands. After more than two years since Hurricane María devastated […]
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América Móvil, Google Cloud partner to offer business solutions in 16 countries
June 28, 2019
América Móvil and Google Cloud announced a business alliance that will allow Telmex, Telcel and Claro customers in 16 countries in Latin America and the United States to access G Suite. The platform offers a set of smart applications such as: Gmail, Docs, Drive, Calendar and Hangouts, among others, is designed for real-time collaboration and […]
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DirecTV’s ‘Piedra, Papel, Tijera’ project marks 10 ‘Generations of Heroes’
June 28, 2019
The “Piedra, Papel, Tijera” social project from Generation DirecTV is celebrating its 10th anniversary, “contributing to more positive changes at different communities in need with their volunteering program,” the company said. To mark the occasion, more than 30 DirecTV employees volunteered and worked on the restoration of the Crearte Center in Yabucoa. “Piedra, Papel, Tijera” […]
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P.R. Community Foundation gets $4.1M grant to deploy renewable energy in Culebra
June 27, 2019
Puerto Rico Community Foundation is getting a $4.1 million grant from the U.S. Department of Commerce to install a 100% renewable energy system to support businesses in the municipality of Culebra. The project, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone, will be matched with $1 million in local funds, U.S. Secretary of […]
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$16M Caguas Ambulatory Surgical Center to begin operating next month
June 27, 2019
Caguas Ambulatory Surgical Center, a multiple-specialty ambulatory surgical center in Caguas, will begin operating next month after a $16 million investment, company executives said. Caguas Ambulatory will offer ambulatory surgical procedures in the specialties of Orthopedics, Urology, Ophthalmology, Otorhinolaryngology, and Hand Surgery, among others. This type of facility offers more cost-efficient services and facilitates access […]
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Silver Lion, 4 shortlist for de la Cruz & Associates in Cannes festival
June 27, 2019
de la Cruz & Associates won a Silver Lion at the 2019 Cannes Lions International Festival of Creativity in the Entertainment Lions for Music category for its campaign “Giving Songs.” The participation in the competition also gave DLC four shortlist in four categories, the company said. The winning campaign was an initiative produced to promote […]
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Ford, Lincoln rank among top 5 brands in J.D. Power study
June 27, 2019
Both Ford and Lincoln have ranked among the top five automotive brands in the United States for the first time in the latest J.D. Power U.S. Initial Quality Study due to overall quality improvements that are outpacing the industry, Ford Motor Company said. Now in its 33rd year, the study measures vehicle quality by analyzing […]
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Oriental to buy Scotiabank’s operations in P.R. for $550M; USVI for $10M
June 26, 2019
OFG Bancorp’s subsidiary Oriental Bank will acquire Scotiabank’s Puerto Rico operation for $550 million and its U.S. Virgin Island branch operation for $10 million. Scotiabank’s Puerto Rico and USVI operations will be merged into Oriental Bank and its related businesses. The acquisition is subject to customary regulatory approvals, which will likely take about six months […]
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BurgerFi to open 6 restaurants in P.R., create 200 jobs over next 5 years
June 26, 2019
Florida-based gourmet burger chain BurgerFi announced it will open six new stores across the island and create more than 200 jobs over the next five years. The six Puerto Rico locations will be owned and operated by franchisee Phillip Faigenblat, an entrepreneur who owns 14 Denny’s franchises in on the island. Faigenblat recognized the need […]
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PREPA’s limited delivery of documents extends suit filed by CAMBIO and IEEFA
June 26, 2019
CAMBIO, a local nonprofit, and the Institute for Energy Economics and Financial Analysis (IEEFA) expressed their dissatisfaction at the San Juan Superior Court about the limited amount of public information they have received from the Puerto Rico Electric Power Authority. In response, Judge Anthony Cuevas-Ramos, who is presiding over the case has summoned the parties […]
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