Popular takes $55M hit after losing appeal in FDIC fight
October 5, 2016
Banco Popular de Puerto Rico announced Tuesday that it lost an appeal before a review board deciding over a dispute with the Federal Deposit Insurance Corp., representing a $55 million hit for the bank.
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Artlet Aviation signs deal with Heli-One to repair aircraft
October 5, 2016
Arlet Aviation LLC, a Puerto Rican company dedicated to servicing the local and international aviation industry announced Tuesday it has signed an agreement with Heli-One as their representative in the Caribbean area.
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PR hosts int’l maintenance & reliability engineering class
October 5, 2016
PdMTech, a Puerto Rican engineering and predictive maintenance firm and the Condition Monitoring & Maintenance Institute, will sponsor a “Maintenance & Reliability Engineering Master Class” on Oct. 5-6, the companies announced Tuesday.
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CBP seizes $1.5M in illegal counterfeit products in P.R.
October 4, 2016
U.S. Customs and Border Protection San Juan Field Operations announced today that 206 seizures where made of counterfeit products, valued at $1.5 million, which were illegally imported into Puerto Rico via international mail.
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Creative industries represent 5.7% of P.R. sales activity
October 3, 2016
Creative industries — those dedicated to design, arts, media and services — generate nearly 70,000 jobs and $10 billion for the Puerto Rican economy, representing about 5.7% of sales generated by all companies on the island, the Puerto Rico Statistics Institute disclosed in a recent report.
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P.R. Tourism Co. expects record-breaking cruise season
September 30, 2016
Puerto Rico is on its way to break cruise passenger records for the second time in three years, Tourism Co. executives said Thursday, during the 23rd annual Florida Caribbean Cruise Association (FCAA) Cruise Conference and Trade Show in San Juan.
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US Dept. of Labor gives $1.1M to P.R. to improve services
September 30, 2016
The U.S. Department of Labor announced Thursday a total of $43.2 million in Reemployment & Systems Integration National Dislocated Worker Grants to 43 states and territories to support and improve connectivity among existing workforce programs.
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Toyota holds on to market share of 29.4% in P.R.
September 30, 2016
The current economic climate notwithstanding, the automotive industry continues to show a slow but steady sales pattern, with Toyota leading sales with its positive performance.
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US Labor Dept. awards $6M to P.R. for Zika recovery
September 29, 2016
The U.S. Department of Labor announced Wednesday the funding of a $6 million National Dislocated Worker Grant initial award to the Puerto Rico Department of Labor and Human Resources to employ temporary workers to assist with recovery efforts after the Zika virus outbreak in the commonwealth.
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PREPA to begin implementing $2.4B capital plan
September 28, 2016
The Puerto Rico Electric Power Authority (PREPA) announced Tuesday it will immediately proceed with the implementation of the Integrated Resource Plan, as modified by the Puerto Rico Energy Commission (PREC), which adopted key elements of its $2.4 billion capital investment plan.
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Op-Ed: A hidden treasure of talent for our workforce
September 28, 2016
I firmly believe that if entrepreneurs don’t rescue and use the huge amount of potential talent we have in our extremely high school dropout statistics, not only are we doomed to waste valuable resources, but we will also pay a huge social price.
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CooPACA reopens Cruce Davila branch in Barceloneta
September 28, 2016
The Savings and Loan Cooperative of Arecibo (CooPACA, for its Spanish acronym) announced Tuesday the reopening of its branch located in Cruce Dávila in the municipality of Barceloneta, after a $1 million investment.
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Animus joins forces with LatinasRepresent for summit
September 28, 2016
The National Hispanic Leadership Agenda (NHLA), a coalition of the nation’s 40 preeminent Latino organizations, and ANIMUS have joined forces to share information about both the Latino Appointments Program and LatinasRepresent programs during the upcoming ANIMUS Summit.
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Fla. law firm probes P.R. muni bond recommendations
September 27, 2016
Tampa-based Mark A. Tepper securities law firm announced Monday it is investigating alleged claims against brokers and financial advisors for recommending Puerto Rico General Obligations (GO) and/or Puerto Rico municipal bonds.
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UTC Aerospace Systems expanding presence in P.R.
September 22, 2016
UTC Aerospace Systems, a unit of United Technologies Corp., announced Wednesday it is expanding its presence in Puerto Rico over the next three years with the establishment of an operations and supply chain business services center.
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