Oriental donates $60K to CAP Foundation
March 18, 2019
As part of its commitment to the community, Oriental made a donation of $60,590.65 to the CAP Foundation, during the “Uniendo Cabezas” event, a shave-a-thon in solidarity with pediatric cancer in Puerto Rico. “Following a survey we conducted among our 1,500 employees as part of our ‘Manos Oriental’ volunteer program, we decided to join the […]
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SBA announces National Small Business Week May 5-11
March 18, 2019
The head of the U.S. Small Business Administration Linda McMahon announced that this year’s National Small Business Week will be held from May 5-11, 2019. McMahon will start the week in Washington, D.C., where she will recognize and award outstanding small business owners and SBA Resource Partners from around the nation. She will continue the […]
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GAO report confirms FEMA’s slow response to P.R.’s recovery funding needs
March 15, 2019
A report released Thursday by the U.S. Government Accountability Office confirmed that of the $132 billion that Puerto Rico government officials estimated are needed to rebuild after the 2017 hurricanes, it has only received $4 billion. The Federal Emergency Management Agency —the lead federal agency responsible for assisting Puerto Rico as it recovers — has […]
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P.R.’s new car sales up 13.1% year-over-year in February
March 15, 2019
Puerto Rico’s new car sales reflected a 13.2 percent year-over-year increase in February, the United Automobile Importers Group revealed. The group known as GUIA for its initials in Spanish, represents Puerto Rico’s automotive industry and keeps track of new car sales. February ended with a total of 7,720 units sold in Puerto Rico in contrast […]
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Claro announces 1st fiber optic infrastructure deployment to homes in Guaynabo
March 15, 2019
Telecommunications service provider Claro, in conjunction with the Autonomous Municipality of Guaynabo, announced the availability of Claro’s new fiber optic network, which offers speeds of up to 1,000 megas of bandwidth. In this first stage, the cutting-edge network will benefit some 1,301 families in Guaynabo that will have access to “a stable and superior connection […]
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Somos Solar named semi-finalist in int’l award competition for Ciales project
March 15, 2019
The Somos Solar Foundation was selected as a worldwide finalist of the Microgrid Greater Good Awards for its project to convert Toro Negro into the island’s first solar community, the nonprofit announced. The awards are granted bypublication Microgrid Knowledge to solar energy microgrid projects that can be replicated, that offer a benefit to society and […]
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Center for a New Economy, Popular support pre18’s 2nd generation
March 14, 2019
Parallel18 (P18) the global startup accelerator that operates since 2015 as part of the Puerto Rico Science, Technology and Research Trust launched the call for applications for the second generation of pre18, its pre-acceleration program for innovative Puerto Rican companies. This time around, Popular and the Center for a New Economy (CNE), through the Puerto […]
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Lexus celebrates 10M vehicles sold worldwide, P.R. included
March 14, 2019
Lexus announced its 10 millionth vehicle sold, a milestone that came shortly after a strong 2018 year-end sales performance, with Lexus achieving “multiple best-ever sales goals around the globe,” company officials said. In addition, the brand that pioneered the world’s first luxury hybrid-electric vehicle in 2005, and offers 11 electrified models globally, surpassed the 1.45 […]
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Burlington reopens final store impacted by Hurricane María
March 14, 2019
National off-price retailer Burlington Stores is marking its10th anniversary on the in Puerto Rico as the reopening of all of its 11 stores on the island in the aftermath of Hurricane María. The Humacao store, which has been closed, will be back in business Mar. 15. “As Puerto Rico continues to rebuild and recover, the […]
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Moody’s: P.R. and its banks will benefit from federal economic analysis
March 13, 2019
The reason for the positive outlook is that Moody’s believes federal estimates of the island’s Gross Domestic Product “will bolster reforms by the island that should encourage unbanked residents to participate in the banking system, thereby spurring loan growth and increasing operating margins.” In its report, Moody’s predicted that the banks that will benefit are […]
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San Juan Mercantile Bank & Trust gets license to operate in P.R.
March 13, 2019
The San Juan Mercantile Exchange Inc. (SJMX) and the San Juan Mercantile Bank & Trust International Corp. (SJMBT) today announced that SJMBT has received its license to operate from the Puerto Rico Office of the Commission of Financial Institutions. The license authorizes SJMBT to operate as an International Financial Entity (IFE) under OCIF’s banking regulations, […]
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Claro offers $10K reward to people reporting copper theft
March 13, 2019
Technology and information company Claro recently announced it is offering a $10,000 reward to people who provide information leading to the arrest and conviction of those responsible for the theft of the company’s copper cables. “Telecommunications are the backbone of the island’s economy and the recurrence of these acts of sabotage places essential services in […]
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100 entrepreneurs graduate from P.R. Emprende Academy so far
March 13, 2019
Puerto Rico Trade and Export and nonprofit organization INprende announced the graduation of 40 entrepreneurs that participated in the third generation of the Puerto Rico Emprende Academy (PREA) training program for the development and strengthening of small and medium enterprises. Agency Executive Director Ricardo Llerandi said “with more than 100 graduates already, this initiative offers […]
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Espacios Abiertos will seek review of P.R. Court of Appeals decision
March 12, 2019
In a two-to-one divided opinion, a three-judge panel of the Puerto Rico Court of Appeals ruled to keep information on tax abatements confidential and inaccessible to the public, in a case filed by nonprofit Espacios Abiertos. In doing so,the panel reversed a San Juan Superior Court decision compelling the Puerto Rico Treasury Department to publicly […]
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Western Union, TuChequera.com open int’l payment options for businesses
March 12, 2019
Western Union, a provider of cross-border, cross-currency money movement, announced an alliance between Western Union Business Solutions and TuChequera.com that will allow entrepreneurs in Puerto Rico to conduct business in more than 130 currencies and send online business payments through a platform available 24/7. “Puerto Rico is the first region in Latin America and The […]
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