Iberia to resume direct Madrid-San Juan service on Mar. 31
January 25, 2019
Spanish airline Iberia will resume its direct route between San Juan and Madrid on Mar. 31 with three weekly flights between Luis Muñoz Marín International Airport on Wednesdays, Fridays and Sundays during the months of April, May, September and October. Those flights are in addition to the daily flights to be offered — except Monday […]
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IEEFA P.R.: New natural gas deal fits same old pattern for choosing contractors
January 25, 2019
Editor’s Note: The following is an analysis by Tom Sanzillo ([email protected]), IEEFA’s director of finance and Cathy Kunkel ([email protected]), an IEEFA energy analyst. It is being reprinted as it originally appeared in IEEFA’s website. The government of Puerto Rico is moving forward with plans to convert two units at the San Juan power plant from […]
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Op-Ed: Is FEMA using flawed indicator in decision-making process in P.R.?
January 25, 2019
For decades, government officers and academia have indicated that the problem for doing research in Puerto Rico has been the lack of access to data. Paradoxically, regarding Puerto Rico, today we find ourselves with statistical independence threatened by political forces and with questionable data analysis produced by some organizations. Is inaccurate data analysis common in […]
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40 companies selected for 3rd generation of P.R. Emprende Academy
January 25, 2019
Puerto Rico Trade and Export and nonprofit Inprende announced the selection of the 40 companies that will be part of the third generation of Puerto Rico Emprende Academy. The Puerto Rico Emprende Academy is a business training initiative for the development and strengthening of small- and medium-sized local businesses. “After a rigorous scrutiny process where […]
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Popular Inc. reports whopping increases in net and adjusted income in ’18
January 24, 2019
Popular Inc. closed 2018 with significant year-over-year increases in its net and adjusted income, according to its quarterly earnings report. For the 12-month period ended Dec. 31, 2018, adjusted net income was $487 million, up 76 percent from the prior year’s adjusted net income of $276 million. Net income for 2018 totaled $618.2 million, a […]
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Public power versus privatized power: The debate in P.R. before and after María
January 24, 2019
By Eliván Martínez Mercado | Center for Investigative Journalism From the inside of a cargo container like the ones used to transport food overseas, the town of Sterling, Massachusetts implements the energy system of the future. The general manager of this power services company, Sean Hamilton, walks with his head protected by a white constructor’s […]
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Economic Activity Index up 21.5% in Nov. 2018 vs. same year-ago month
January 24, 2019
Puerto Rico’s Economic Activity Index showed a 21.5 percent year-over-year growth in November 2018, the government announced. The EAI-PR released by the Puerto Rico Economic Development Bank reached a level of 120.3 in November 2018, showing a decrease of 0.1 percent compared to October 2018. The most recent results mark the third consecutive increase after […]
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P.R. Treasury Dept. grants payment moratorium to furloughed federal employees
January 24, 2019
The Puerto Rico Treasury Department has granted a moratorium on payment plans to U.S. government employees affected by the partial shutdown that is now the longest in history. Treasury Secretary Teresita Fuentes said as a result of the partial shutdown in effect since Dec. 22, 2018, employees that have gone without pay are being given […]
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AeroNet upgrades backbone network to 100g, lights up Miami node
January 24, 2019
High-speed business internet service provider AeroNet announced it has upgraded its fiber backbone network to 100 Gigabit per second (100G) technology. The upgrade will enable the San Juan-based company to support the current and future bandwidth and connectivity needs of its customers, it stated. “AeroNet takes another step into being in the forefront of technology […]
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Econo opens $8M store at Plaza Salinas shopping center
January 24, 2019
Puerto Rican grocery store chain Supermercados Econo will its newest location at the Plaza Salinas shopping center today. The retailer invested $8 million in the 28,000 square-foot store. José Vega, partner and owner of the Supermarket Econo in Plaza Salinas, confirmed that “we arrived to be the community’s favorite, while contributing to the economic development […]
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OFG Bancorp reports $23.1M in net income in 4Q18
January 23, 2019
OFG Bancorp reported net income of $23.1 million, or $0.45 per fully diluted share, compared to $19.6 million during the third quarter of 2018, or $0.42 per share and the same year-ago quarter, when it made $13.6 million or $0.30 per share. For the year ended Dec. 31, 2018, the financial institution reported net income […]
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P.R. Institute of Statistics seeks injunction against board appointments
January 23, 2019
The Puerto Rico Institute of Statistics is seeking an injunction and declaratory judgment from the San Juan Superior Court challenging the validity of a number of board appointments Gov. Ricardo Rosselló made in late November 2018. The appointments casts doubt on the Institute’s independent criteria and the knowledge and expertise required for Board members to […]
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P.R. Nonprofit Capacity Building Network to boost grassroots organizations
January 23, 2019
The Puerto Rico Nonprofit Capacity Building Network is coming together to provide training, networking opportunities and funding for grassroots organizations across Puerto Rico. The goal is to increase their capacity to meet crucial community needs in areas such as housing, climate resilience, education and health, especially as the island recovers from Hurricanes Irma and María. […]
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P.R. Legal Marijuana projects opening of 250 clinics in next 6 mo.’s
January 23, 2019
The number of patients using medicinal cannabis to manage their conditions continues to rise and so is the opening of new cannabis clinics that will create thousands of jobs, said Puerto Rico Legal Marijuana President Goodwin Aldarondo. The trade group estimated that in the next six months, 250 new clinics will begin to operate, generating […]
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1st post-María resilience summit to focus on lessons learned from hurricanes
January 22, 2019
Caribbean Strong, under the slogan of “Building Resilience with Equity,” is the first post-Hurricane María resilience summit to be held this year, at the Sheraton of the Convention Center Hotel from Feb. 27 to Mar. 1, organizers confirmed. The summit will focus on the lessons learned after the two devastating hurricanes that hit Puerto Rico […]
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