American Red Cross confirms 77 P.R. schools being outfitted with micro solar networks
May 8, 2019
As part of today’s celebration of “World Red Cross Day,” the organization announced that 77 schools throughout Puerto Rico that serve as emergency shelters are already being outfitted with micro solar networks that will provide energy when the power goes out. So far, of the 77 schools that are in process, 35 already have the […]
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Op-Ed: Small Business Week spotlights local entrepreneurs and small biz
May 8, 2019
During National Small Business Week, May 5-11, the U.S. Small Business Administration will shine a bright spotlight on our nation’s 30 million small businesses. Entrepreneurs will tell their individual stories of pursuing their dreams, embracing the American work ethic and achieving success. The process of entrepreneurship has never been easy; the SBA is privileged to […]
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Popular Auto Charity Golf Classic nets $371K for 30 nonprofits
May 8, 2019
Popular Auto recently celebrated the 20th anniversary of the Popular Auto Charity Golf Classic with a donation of $371,700 for 30 nonprofit organizations on the island. The event, which achieved a record number of players for a one-day tournament, was held at the Ocean Course and River Course, Wyndham Río Mar, and in the Coco […]
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Brands Of represents Caribbean in ‘World E-commerce Conference’ in Yiwu, China
May 8, 2019
Emerging e-commerce company Brands Of was invited for the second time last month to attend the “World E-commerce Conference” event organized by the government of Yiwu, China. The company held business meetings with organizations interested in importing Latin American products to the Chinese Asian market. In addition, Néstor Taveras, president of Brands Of, offered a […]
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P.R. gov’t releases financial statement for Fiscal ’16 showing $70.3B deficit
May 7, 2019
The government of Puerto Rico released its audited financial statement for Fiscal 2016, as required by the Fiscal Oversight and Management Board, revealing a deficit of $70.3 billion, primarily as a result of debt accrued by public servants’ retirement programs. The programs had a combined debt of $42 billion, at the time, which is the […]
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150+ travel industry professionals to visit P.R. to encourage sustainable tourism
May 7, 2019
The Tourism Cares organization will gather more than 150 travel industry professionals when it holds the “Tourism Cares for Puerto Rico” event next week. The three-day event has the support of the Puerto Rico Tourism Co., agency officials said. Under the “Travel with Purpose” slogan, members of the travel industry, community-based projects, government officials, agricultural […]
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Op-Ed: Making the Merchant Marine Act of 1920 fair to everyone
May 7, 2019
The Jones Act (Senator Wesley Jones), or the Merchant Marine Act of 1920, was signed into law by President Woodrow Wilson with the intent of having a ready and able merchant marine that could be ready to enter and back up the military in the event of a military conflict. This purpose is still sustained […]
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Serrallés receives ‘World Class Distillery 2019’ award
May 7, 2019
Destilería Serrallés received the “World Class Distillery 2019” award by the World Spirit Award organization based in Austria, the company announced. Annually, this liquor industry guild evaluates spirits producers from around the world in various categories. In the recent competition, 117 distilleries were evaluated in more than 25 countries globally. Serrallés, with its headquarters in […]
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Senate approves creation of sales tax-free zones in San Juan
May 7, 2019
The Puerto Rico Senate approved Senate Bill 1263 that would establish the “Sales and Use tax-free zones in the capital city of San Juan,” authored by Sen. Miguel Romero. The measure seeks to authorize the municipality to designate areas where, for a minimum initial term of three years to a maximum initial term of five […]
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Economic development scarce for P.R.’s micro and small entrepreneurs
May 6, 2019
By Jeniffer Wiscovitch PadillaCenter for Investigative Journalism “To avoid a headache,” Wilfredo Cubero hired a professional authorized by the Permit Management Office to get the Use Permit for his business Piu Bello Gelato, located in Plaza del Sol mall in Bayamón. His biggest setback at the moment is that he does not yet have the […]
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Op-Ed: End of an ERA, reflections of an economist
May 6, 2019
Puerto Rico Gov. Rafael Hernández-Colón died May 2, 2019 after a long battle against leukemia and surrounded by his loving family. He was 82, same age as that of Gov. Luis Muñoz-Marin when he died several decades ago. Guess they will have a lot to chat about now. Well-deserved honors by the people of Puerto […]
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Abartys Health wins ‘Rise of the Rest’ business innovation competition
May 6, 2019
Abartys Health won the $100,000 investment from the Rise of the Rest Seed Fund for its project, after beating seven other finalist projects at the Museum of Contemporary Art in San Juan during the last stop of the “Rise of the Rest” tour and business competition. The panel of judges that evaluated the proposals presented […]
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Oversight Board sues 20+ banks, other parties to recover $1B in excess payments
May 3, 2019
The Financial Oversight and Management Board for Puerto Rico filed complaints to recover more than $1 billion from holders of bonds issued in excess of Puerto Rico’s constitutional debt limit, and from firms and advisors that helped with the issuance of those bonds. The Oversight Board filed a claim against more than 20 banks, law […]
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Study claims P.R.’s southern aquifers are ‘healthy, efficient and resilient’
May 3, 2019
Despite the moderate drought that recently affected parts of the island, a new study belies the notion that there is a crisis in the aquifers of Puerto Rico’s southern region, a natural source of water that is critical for the area’s agricultural sector. According to the data exposed in the study, these bodies of water […]
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Op-Ed: What does the Oversight Board’s lawsuit against Commonwealth suppliers mean?
May 3, 2019
As of May 2, 2019, the Financial Oversight and Management Board for Puerto Rico has filed 230 lawsuits against suppliers of goods and services to the Commonwealth of Puerto Rico and the Committee of Unsecured Creditors Under Title III of PROMESA. The Oversight Board has entered into this scenario through a stipulation that allows it […]
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