37 co’s picked for Parallel18’s 3rd round of acceleration
February 2, 2017
Parallel18, an international accelerator for high impact innovative enterprises that want to scale their businesses from Puerto Rico, announced Wednesday it has selected 37 startups that will move to the island for five months to accelerate their companies and learn from business and technology experts worldwide.
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First BanCorp.’s private equity groups selling 20M shares
February 2, 2017
First BanCorp., the bank holding company for FirstBank Puerto Rico, announced Wednesday that certain stockholders have commenced a public underwritten offering of an aggregate of 20 million shares of the corporation’s common stock, $0.10 par value per share that they currently own.
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Sacred Heart Univ. gets $150K for new scholarship fund
February 2, 2017
Sacred Heart University announced Wednesday the receipt of a $150,000 gift from Ashton Soniat and his wife Lauren to establish the perpetual Robert Soniat Fund to provide scholarships to outstanding students with financial need.
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OFG Bancorp reports $12.1M in 4Q16 net income
February 1, 2017
OFG Bancorp reported Tuesday results for the fourth quarter, reflecting an increase in net income available to shareholders to $12.1 million, or $0.27 per share fully diluted, from $11.7 million, or $0.26 per share fully diluted, in the third quarter and a loss of $4.4 million, or ($0.10) per share, in the same year-ago quarter.
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FirstBank grants $4.5M in working capital to Pentaq
February 1, 2017
FirstBank announced it has granted Pentaq Manufacturing Corp.the first working capital line of credit of $4.5 million under the CAPLine program of the U. S. Small Business Administration.
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Ford looking for ‘unstoppable people’ in new campaign
February 1, 2017
With its new “Sé Imparable” initiative, Ford announced Tuesday it is looking for people in Puerto Rico who are “continually exceling and striving to improve other people’s lives as well as their own,” despite the island’s challenging economic and social environment.
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NY Fed study sheds light on P.R. small business traits
January 31, 2017
A new study released Monday by the Federal Reserve Bank of New York showed that the majority of Puerto Rico’s small businesses both in and outside the San Juan metropolitan area have few employees and annual revenues under $250,000, among other similarities.
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Study questions Medicare Advantage benchmarks for PR
January 31, 2017
Puerto Rico's traditional Medicare population is not representative of the island's much larger Medicare Advantage membership, questioning its use as the foundation for establishing MA benchmarks on the island.
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Weekend Wheels: Nissan Pathfinder ’17 ideal for family
January 31, 2017
This past weekend, this media outlet got the opportunity to test-drive this elegant, roomy and comfortable vehicle, taking in many of its family-friendly features.
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Board extends fiscal plan deadline, names exec. director
January 30, 2017
The Financial Oversight and Management Board for Puerto Rico on Saturday approved Gov. Ricardo Rosselló’s request to extend the deadline in which to present the administration’s fiscal plan to Feb. 28.
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Rosselló calls for increased Medicare Advantage funding
January 26, 2017
Gov. Ricardo Rosselló sent a letter Wednesday to Acting-Secretary of Health and Human Services, Norris Cochran, advocating for increased funding to the Medicare Advantage plans operating in Puerto Rico, which serve over 570,000 elderly island residents including some of the most vulnerable among them.
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Popular reports $1.4M net loss in 4Q16
January 25, 2017
Popular Inc. reported a net loss of $4.1 million for the quarter ended Dec. 31, 2016, compared to net income of $46.8 million for the quarter ended Sept. 30, 2016.
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Executives named in entertainment, finance, accounting
January 25, 2017
This edition of “Climbing the Corporate Ladder” includes appointments of executives in the fields of entertainment, finance and accounting, and insurance in Puerto Rico.
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Oversight Board confirms 4th meeting on Jan. 28
January 25, 2017
The Financial Oversight and Management Board for Puerto Rico confirmed Tuesday it will hold its fourth Board meeting in Puerto Rico on Jan. 28 at 8:30 a.m. The meeting will be held at El Conquistador hotel in Fajardo.
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Puerto Rican startups rock Parallel18’s Demo Day
January 23, 2017
Wireless sensors for soil, plant-based water filter for emerging markets and a mobile platform to borrow and share objects with your neighbors were among the 25 companies pitching to potential investors at Parallel 18’s Demo Day.
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