P.R. housing market on the mend after Hurricane María
June 14, 2019
Puerto Rico’s housing market improved between 2017 and 2018, after recovering from the impact of Hurricane María, showing a 78% increase in new homes sale and an 17% increase in previously owned homes, a study by the Estudios Técnicos research firm showed. However, despite the current improvement, Puerto Rico’s housing market will have to create […]
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Community Health Centers were lifesavers after hurricane, but gov’t didn’t count on them
June 14, 2019
By Mc Nelly TorresCenter for Investigative Journalism Three days after Hurricane María, Isolina Miranda stared in disbelief at what was left of the two-story building where a community health center once stood in the heart of San Lorenzo, a town of 37,000 people in the eastern central region of the island. Miranda is the executive […]
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PRIDCO reaches deal to restructure $165M in debt with bondholders
June 14, 2019
The government of Puerto Rico announced it has entered into a restructuring support agreement for $165 million in Puerto Rico Industrial Development Company debt with GoldenTree Asset Management, holder of over two-thirds of the agency’s outstanding revenue bonds. The RSA contemplates a financial restructuring of the PRIDCO Bonds through a Qualifying Modification under Title VI […]
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Dept. of Agriculture to require expiration date for imported, local egg starting in July
June 14, 2019
With the consensus of the island’s organized egg production sector, Agriculture Secretary Carlos Flores-Ortega, signed a new administrative order to require that all local and imported egg containers carry an expiration date effective July 1, 2019. At present, the imported product only contains the date when the eggs were packaged, with no expiration date for […]
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FirstBank’s 1Éxito program announces last day to apply
June 14, 2019
After successfully training 70 business owners late last year, FirstBank and INprende announced the return of the 1Éxito program, a partnership designed to train and develop entrepreneurs, with the goal of helping small businesses already in operation across the island grow stronger. Those interested in participating in the free training sessions have until today to […]
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Metropol restaurant opens its doors at the Luis Muñiz Marín Int’l Airport
June 14, 2019
With an investment of $1.3 million and the creation of 70 jobs, the Metropol restaurant has opened at the Luis Muñoz Marín Airport, operator Management Group Investor announced. It is the first restaurant of the Metropol chain that will operate under the franchise concept. It spans 5,000 square feet and has a capacity to seat […]
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Hotel room tax collections reach ‘record levels’ in April at almost $7M
June 13, 2019
Hotel room tax collections reached nearly $7 million in April, the highest in the history of the levy for that month, Puerto Rico Tourism Company Executive Director Carla Campos said. In April 2019, collections totaled $6.96 million, a figure that reflects an increase of more than $500,000 when compared to collections for April 2018, and […]
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Famous Dave’s restaurants disappearing from P.R. market
June 13, 2019
Grupo Colón Gerena, franchise license holders for the Famous Dave’s restaurants in Puerto Rico, confirmed that the chain will disappear from the local market, and will be transformed into Olive Garden eateries. The transformation is the result of recent market assessments and studies, which revealed consumers’ desire for more Olive Garden on the island, said […]
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Truenorth tech solution for Treasury Department featured in IBM case study
June 13, 2019
IBM recently highlighted Truenorth Corporation in a case study about a technology solution the Guaynabo-based company worked on for the Puerto Rico Treasury Department in the aftermath of Hurricanes Irma and María. Truenorth, along with IBM partner PSR, helped the Treasury Department develop and implement a continuous availability solution that is based on IBM z14 […]
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Wilma Vázquez Hospital to serve Molina Healthcare Vital Plan patients
June 13, 2019
Beneficiaries from the government of Puerto Rico’s Vital Plan affiliated to Molina Healthcare of Puerto Rico, now will have direct access to the services offered by Wilma N. Vázquez Hospital in Vega Baja, after an agreement reached between the two organizations. “We continue to strengthen and expand our provider network in the government’s health plan […]
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KOI IXS wins 4 awards for digital pieces produced in P.R.
June 13, 2019
Marketing technology consultancy firm, KOI IXS, won two gold, a silver and a bronze SME Digital Awards granted by the Sales and Marketing Association of Puerto Rico during its recent summit. The event, which recognizes the best practices in the use of the internet as part of marketing, publicity and public relations campaigns carried out […]
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MIDA’s Consumer X-Ray shows a 5% year-over-year drop in grocery spending
June 12, 2019
The amount of money consumers are spending on groceries a month dropped to $422, a fall of 5% versus the expenditure reported in 2018, similar to that recorded in 2015, according to the study released by the Chamber of Marketing, Industry and Food Distribution, or MIDA, as the trade group is known for its initials […]
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USDA Rural Development OKs $53K in grants for 4 energy projects in P.R.
June 12, 2019
USDA Rural Development is awarding 58 grants for projects in 17 states and Puerto Rico to reduce energy costs for farmers, agriculture producers and rural-based businesses and institutions. Four projects in Puerto Rico will receive a combined $53,000, the USDA revealed. USDA is providing the grants through the Rural Energy for America Program (REAP). Congress […]
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DMO: P.R. booms as ‘most LGBTQ+ friendly destination in Caribbean’
June 12, 2019
Within the celebration of PRIDE month, Destination Marketing Organization Discover Puerto Rico announced it is strategically positioning Puerto Rico as the “LGBTQ+ capital of the Caribbean” by leveraging the island as the most welcoming, inclusive and safe vacationing spot in the region for this community. Puerto Rico holds the most metrics of advancing civil liberties […]
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FirstBank receives recognition from Habitat for Humanity
June 12, 2019
FirstBank, represented by its Community Reinvestment Unit, received a recognition from nonprofit organization Habitat for Humanity of Puerto Rico for its commitment and collaboration with the development of housing rehabilitation programs designed for individuals who have been socio-economically disadvantaged in past years. “Our alliance with Habitat for Humanity of Puerto Rico has enabled us to […]
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