Puerto Rico projects the image of a society that has achieved material progress but behind the curtain lies a stark reality: 45.6 percent of its people live in poverty compared with 15.9 percent in the U.S., according to a report released by the Pontifical Catholic University of Puerto Rico (PUCPR).
Negotiations for the sale of La Concha and the Vanderbilt hotels in Condado to a leading real estate investment group are reportedly underway and could culminate within the next two months, News Is My Business has learned.
Uncertainty over the impact of new taxes on businesses may be putting a break on entrepreneurship with Puerto Rico's largest bank reporting a slowdown in its small business loan activity.