P.R., USVI get $566K in US Labor Dept. grants
April 29, 2016
The U.S. Department of Labor on Thursday awarded $112 million to 50 state and territorial workforce agencies, including Puerto Rico, and the U.S. Virgin Islands, which received $302,000 and $246,000, respectively to offer reemployment services and eligibility assessments programs for those receiving unemployment insurance benefits. Estimates based on the budgets in the past 10 years […]
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SBA loans in P.R., USVI reach $43.8M in 1st half of FY ’16
April 28, 2016
The U.S. Small Business Administration approved 335 loans for $43.8 million in Puerto Rico and the U.S. Virgin Islands during the first six months of fiscal year 2016, a 19 percent and six percent increase, respectively, over approvals during the same period in 2015, the agency said Wednesday.
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Expedia launches direct communication tool for hoteliers
April 27, 2016
The Expedia group, one of the world’s leading travel companies, has begun its rollout of Expedia PartnerCentral (EPC) Conversations, which can benefit its Caribbean hotel partners, including those in Puerto Rico, through from better dialogue and engagement with booked guests.
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First BanCorp. garners $23.3M in 1st quarter net income
April 26, 2016
First BanCorp., the parent company for FirstBank Puerto Rico, reported Monday net income of $23.3 million for the first quarter of 2016, or $0.11 per diluted share, compared to $15 million, or $0.07 per diluted share, for the fourth quarter of 2015 and $25.6 million, or $0.12 per diluted share, for the first quarter of 2015.
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Moody’s: P.R. will default ‘with or without’ federal action
April 25, 2016
The government of Puerto Rico will default on several debt payments due May 2, including $422 million due from the Government Development Bank, “regardless of whether Congress enacts pending fiscal oversight legislation,” Moody’s Investors Service predicted.
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Local bondholders demand voice in restructuring talks
April 25, 2016
Individual Puerto Rico bondholders announced the creation of Backyard Bondholders seeking to have a unified voice in the negotiations between the commonwealth’s government, the U.S. House of Representatives and other creditors on the restructuring of the public debt.
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Puerto Rico Restaurant Week returns June 1-11
April 25, 2016
The 5th edition of “Puerto Rico Restaurant Week” will take place June 1-11, when premier restaurants will offer specially designed three course dinner and/or lunch menus at a fixed price.
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1st Bridgestone Store service center opens in P.R. in June
April 25, 2016
Bridgestone North Latin America, through its subsidiary Bridgestone Costa Rica, announced the upcoming opening of the first Bridgestone Store service center in Puerto Rico, slated for June 2016.
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Toyota Foundation seeks students for scholarships
April 22, 2016
As part of its mission to strengthen environmental awareness among the island's young people, Toyota Foundation invites students to apply for its college scholarship program.
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Verdanza Hotel adopts near-waterless laundry system
April 22, 2016
In time for today’s World Earth Day celebration, Verdanza Hotel in Isla Verde announced the installation of the Xeros polymer bead cleaning laundry system, which uses 80 percent less water than a traditional industrial washer, up to 50 percent less energy and approximately 50 percent less detergent.
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Money Express contest winners take home prizes
April 22, 2016
As part of its 20th anniversary celebration, Money Express sponsored the ¡Resuelve y Gana! (“Find Solutions and Win!”) sweepstakes that ran from June 1 to Dec. 31, 2015.
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Pan Pepín unveils new $2M Bayamón production facility
April 21, 2016
Pan Pepín on Wednesday officially announced the establishment of a new $2 million, 10,800 square-foot facility dedicated to the production of its “Planitas” brand of wheat tortillas.
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‘PR Business Link’ online directory targets newcomers
April 21, 2016
“PR Business Link,” an online tool designed to to help Act 20/22 businesses and individuals who are considering moving or are already established in Puerto Rico to get the services they need through a directory that consolidates services and resources in one place.
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USDA opens cycle for rural broadband build-out grants
April 21, 2016
The U.S. Department of Agriculture announced this week it is soliciting applications for grants to establish broadband in unserved rural communities through its “Community Connect” Program, which has some $12 million available to assign.
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GDB board members resign due to ‘restricted authority’
April 19, 2016
Two Government Development Bank board members are stepping down from their posts, saying, among other things, that the recently approved Puerto Rico Emergency Moratorium and Financial Rehabilitation has restricted the scope of their authority to make important decisions.
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