Rock Solid, GTEC join forces to expand to Dom. Republic
November 3, 2016
Rock Solid Technologies Inc., a Puerto Rican firm specializing in technology development and services in Latin America and the United States, announced Wednesday it recently signed a strategic alliance with Dominican firm Gestión Tecnológica (GTEC) to establish operations in the neighboring island nation.
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Owners of Budatai restaurant file for Ch. 11 bankruptcy
November 3, 2016
The owners of Asian fusion restaurant Budatai, headed by renown Chef Roberto Treviño, have filed for Chapter 11 bankruptcy protection, citing more than $400,000 in debt, according to the documents on record at the U.S. Bankruptcy Court.
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Oriental boosts presence among young people, women
November 3, 2016
Oriental Bank has implemented a number of strategies to expand its customer base and increase its market share of young people and women, achieving sustained growth for the past 18 months, company officials said Wednesday.
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Red Cat Propware opens HQs in Humacao, is hiring
November 3, 2016
Red Cat Propware, a provider of software and services for the drone industry, today announced its official launch and headquarters opening in Humacao, company CEO Jeff Thompson confirmed Wednesday.
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SME study: 53% of P.R.’s adults scale back on purchases
October 28, 2016
More than half, or 53 percent of Puerto Rico’s adult population, confirmed in a recent study that they have stopped buying products or services because of the island’s economic situation.
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New stores, revamped tenants at Plaza Las Américas
October 28, 2016
Hato Rey mega-mall Plaza Las Américas is gearing up for the holiday season with the arrival of several new stores, as well as expansions and revamping of existing tenants, officials announced Thursday.
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P.R. gets $375K in USDA grant funding for rural growth
October 28, 2016
Puerto Rico will receive $375,606 in funding through the U.S. Department of Agriculture’s Socially Disadvantaged Groups Grants and Rural Community Development Initiative (RCDI) Programs, agency officials announced Thursday.
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Popular Inc. reports $46.8M in net income for 3Q16
October 26, 2016
Popular Inc. released earnings for the third quarter on Tuesday, reporting net income of $46.8 million for the three-month period ended Sept. 30, 2016, compared to net income of $89 million for the quarter ended June 30, 2016.
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Co-op regulator drafting fiscal stability plan for Board
October 25, 2016
The Public Corporation for the Supervision of Puerto Rico Cooperatives, or COSSEC as the entity is known in Spanish, confirmed it is drafting a “fiscal stability plan” where the sector will present strategies to stabilize the island’s co-op system and its more than 1 million members.
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$700K outpatient clinic to open in Cayey, create 60 jobs
October 25, 2016
Healthcare Ambulatory Services recently announced the Nov. 1 opening of its third location in Puerto Rico, in Cayey, where it invested $700,000 in a modern facility offering specialized medical services.
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Oriental CEO ‘pleased’ PROMESA Board is active
October 24, 2016
Oriental Bancorp reported $11.7 million in net income for the third quarter of 2016 ended Sept. 30.
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Treasury Secretary leaves several projects pending
October 21, 2016
With a little more than two months left to this administration’s four-year term, Treasury Secretary Juan Zaragoza said there are projects he would have liked to have seen through, including a reclassification of agency employees to improve their salaries.
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Zaragoza: Oversight Board needs to defend Law 154
October 21, 2016
The government of Puerto Rico is counting on the Financial Oversight and Management Board for Puerto Rico to fight for the permanence of Law 154, passed in October 2010 as an amendment to Puerto Rico’s Internal Revenue Code that places an excise tax on sales generated by local subsidiaries to their international parent companies.
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Oriental marks 52nd anniversary with 52-week challenge
October 21, 2016
Oriental Bank unveiled Thursday its “Oriental 52 Challenge,” a 52-week initiative to mark its anniversary, through which it invites the public to take part in different activities that contribute to their welfare, their family and community.
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Auto dealerships: P.R. used car sales up in last decade
October 20, 2016
The Puerto Rico Association of Automobile Distributors and Dealers released the findings of a study Wednesday that reflected, among other data, that used car sales has been on the rise in the past decade, outpacing new vehicle movement.
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