P.R. jobless rate at 8.3% in December, 15K jobs added YOY
January 21, 2019
The Puerto Rico Department of Labor and Human Resources announced that the island’s unemployment rate stood at 8.3 percent in December 2018, reflecting a decrease of 2.7 percent versus December 2017. Labor Secretary Carlos Saavedra further said the workforce participation rate rose to 40.8 percent in December, while 15,000 more jobs were reported in comparison […]
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NY Fed to co-sponsor ‘P.R. Financial Awareness’ video contest award ceremony
January 21, 2019
The Puerto Rico Bankers Association and the Federal Reserve Bank of New York will host an awards ceremony for the 10th annual “Puerto Rico Financial Awareness” video contest in San Juan on Jan. 25. The contest seeks to promote knowledge of economics, finance, and business by challenging teams of college students in Puerto Rico to […]
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Aon to host event for employers seeking to boost employee value proposition
January 21, 2019
Professional services firm Aon Puerto Rico will host “Redefining the Employee Work Experience” workshop for the first time on the island, the company announced. The activity seeks to guide employers to understand the importance of defining, creating and implementing an experience for the employee that allows them to express their “Employee Value Proposition.” The EVP […]
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Liberty LatAm settles $108.5M in hurricane-related insurance claims
January 18, 2019
Liberty Latin America has reached a settlement agreement with its third-party insurance provider for $108.5 million in net damages related to Hurricanes Irma and María last year, the company confirmed. The gross amount agreed to in December 2018 totaled $138.5 million, but Liberty deducted $30 million in self-insurance from the total amount. “We have received […]
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New car sales up 28.4% in ’18, when 107K+ units rolled off P.R. lots
January 18, 2019
Puerto Rico’s new car sales received a significant boost last year, when a total of 107,941 units sold, compared to the 84,080 units sold in 2017, representing a 28.4 percent increase. However, the United Automobile Importers Group, known as GUIA for its initials in Spanish, predicted that this year, the industry will see a reduction […]
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P3 Authority confirms selection of 4 proponents for PREPA transformation
January 18, 2019
The Puerto Rico Public Private Partnership Authority announced the selection of four proponents that have the necessary experience to manage and operate all aspects of the Puerto Rico Electric Power Authority’s electricity distribution and transmission system. P3 Authority Executive Director Omar Marrero confirmed the qualified proponents: Duke Energy Corporation; Exelon Corporation; PSEG Services Corporation; and […]
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U.S. House approves Velázquez P.R. amendments to Disaster Funding Bill
January 17, 2019
Washington, DC – The U.S. House of Representatives has approved two proposals authored by Rep. Nydia M. Velázquez (D-NY) aimed at assisting Puerto Rico, as the island continues recovering from economic hardship and historically catastrophic hurricanes. The amendments were approved as part of H.R. 268, a supplemental spending bill that appropriates additional funding for disaster […]
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JetBlue report: Caribbean depends on tourism, which ‘relies heavily’ on healthy coral reefs
January 17, 2019
The Dominican Republic and Puerto Rico, where JetBlue is the largest airline to both islands, benefit from tourist spending of more than $1 billion per year — revenue that is directly linked to healthy coral reefs. Furthermore, the Bahamas, Cayman Islands and Puerto Rico receive more than one million visitors per year whose visits are […]
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Evertec included in ’19 Bloomberg Gender-Equality Index for advancing women in workplace
January 17, 2019
Evertec Inc. announced that it is one of 230 companies selected for the 2019 Bloomberg Gender-Equality Index (GEI), which distinguishes companies committed to transparency in gender reporting and advancing women’s equality. “We’re proud to be included in the Bloomberg Gender Equality Index, representing the first company in Puerto Rico among the 36 countries and regions […]
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Op-Ed: P.R’s per capita debt load is ‘far lower’ than that of mainland states
January 17, 2019
Recent discussions of Puerto Rico’s debt levels by both Puerto Rico officials and the Financial Oversight and Management Board for Puerto Rico represent that the island’s per capita debt levels are far higher than the average per capita levels of mainland states in the U.S. mainland. However, that analysis compares only state-level debt and ignores […]
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6th edition of P.R. Investment Summit set for Feb. 14-15
January 17, 2019
The 6th edition of the Puerto Rico Investment Summit will take place Feb. 14-15, 2019, at the newly renovated El San Juan Hotel, in Isla Verde, organizers announced. Each year, more than 400 investors and business owners gather to learn about the tax incentives, competitive advantages, and opportunities that make Puerto Rico a unique destination. […]
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FirstBank promotes program to help furloughed federal employees
January 17, 2019
Following the partial shutdown of the U.S. government and its possible consequences on the financial responsibilities of its employees in Puerto Rico, FirstBank has launched an assistance program with solutions for loan and credit card payments. The financial institution is urging its clients to call to discuss payment options for personal and auto loans, and […]
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Special Report: How Trump’s anti-immigrant policies separate families in P.R.
January 16, 2019
By Mc Nelly Torres | Center for Investigative Journalism Johnny Santana moved to Puerto Rico in the early 1990s in search of a better life than the one he had in his hometown of Higüey in the Dominican Republic. He worked in construction, as a cook, and later delivering vegetables to restaurants, a job he’s […]
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Foundation for P.R. begins 1st phase of Whole Community Resilience Program
January 16, 2019
Foundation for Puerto Rico has signed an agreement with the Department of Housing to lead the coordination of the Whole Community Resilience Planning Program, the nonprofit announced. As part of the first phase, FPR is building a multisectoral working group that will include key government, community, non-government and nonprofit organizations in Puerto Rico that have […]
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‘Congressional App Challenge’ student winners’ project becomes law
January 16, 2019
High school students Axel Toro and Diego Rivera from the Dr. Carlos González School in Aguada won the “Congressional App Challenge” in Puerto Rico with their project, “Quiero Almorzar,” an app that proposes changing the manual system for lunches used in public schools. The app’s purpose was turned into a bill, House Resolution 348, introduced […]
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