Oriental Bank grants $1.5M in financing to Olein Refinery
August 26, 2016
Oriental Bank recently granted three credit facilities totaling $1.5 million to Olein Refinery, which it will use to convert power generation at its Cristal products manufacturing plant and oil recycling operation into an environmentally friendly system.
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P.R. to send 1st delegation to Havana International Fair
August 26, 2016
Puerto Rico will be represented for the first time at the Havana International Fair, slated to take place on the neighboring island nation Oct. 31-Nov. 4, as a result of a effort between the Development and Commerce, the Puerto Rico Trade and Export Company and the private sector, it was announced Thursday.
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Iconic El San Juan Hotel & Casino $60M rebirth on track
August 25, 2016
Earlier this month, the El San Juan Hotel & Casino — an icon of the bustling Isla Verde tourism strip — closed temporarily as it undergoes a $60 million top-to-bottom redesign of virtually all public areas and guestrooms to attract a new type of client seeking a luxury lifestyle, as well as group business.
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New online tool provides access to P.R. banking statistics
August 25, 2016
Business consulting firm Vision-to-Action (V2A) announced Wednesday the launching of the largest and most comprehensive database of the banking industry in Puerto Rico.
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Meet Puerto Rico urges ‘doing things differently’
August 25, 2016
Tourism destinations need to “move forward and do things differently,” including relying on the so-called “sharing economy” as a key driver of doing business, Meet Puerto Rico President Milton Segarra said Wednesday, during the Destination Marketing Organization’s (DMO) annual meeting.
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Bankers Assoc.: Task Force should review banking rules
August 24, 2016
The Puerto Rico Bankers Association will be submitting a set of recommendations to the Congressional Task Force on Economic Growth addressing key areas in federal banking regulations that could be eased to benefit the Commonwealth’s economy, Executive Director Zoimé Álvarez-Rubio confirmed Wednesday.
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AT&T to connect Cuba; upgrades network in St. Thomas
August 23, 2016
AT&T announced Monday it has reached agreements for Cuba roaming and direct interconnection with Empresa De Telecomunicaciones De Cuba, to begin at a date yet to be determined.
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PRMA to submit 4 proposals to Congressional task force
August 19, 2016
The Puerto Rico Manufacturers Association will submit four specific proposals to the Congressional Task Force on Economic Growth in Puerto Rico addressing mechanisms to spur economic development on the island in different sectors, trade group President Rodrigo Masses announced Thursday.
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P.R. business groups challenge power rate hike
August 19, 2016
A group of nine leading Puerto Rico industry and business associations on Tuesday filed a legal challenge against a Puerto Rico Energy Commission move to impose the first in a series of what they called “unlimited, blank check" rate increases under the Puerto Rico Electric Power Authority debt-restructuring agreement.
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Exec: No protocols makes P.R. reform ‘uncomfortable’
August 18, 2016
A lack of a formal intervention protocol, such as the ones in place in the U.S. mainland for governments in distress, is making Puerto Rico’s restructuring process “uncomfortable” and more challenging to address, an expert with 25 years of experience in reforming troubled public and private sector entities said Wednesday.
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Embassy Suites by Hilton PR marks 20th anniversary
August 17, 2016
Embassy Suites by Hilton, which raised its flag in Puerto Rico in December 1996, is marking two decades of history on the island with a series of events at its Isla Verde and Dorado properties this year, leading up to a gala benefit next year, hotel officials said.
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Open Mobile to hold massive phone recycling program
August 15, 2016
Wireless service provider Open Mobile announced a massive recycling program at its 18 stores throughout Puerto Rico, where it will be receiving all kinds of phones, of any company and in any condition.
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Ports: P.R. regional airport traffic flying high in Fiscal ’16
August 11, 2016
More than 1 million passengers passed through Puerto Rico’s regional airports in Fiscal 2016, representing the highest figure achieved by the island’s Air System Network in the last five years, the Puerto Rico Ports Authority said Thursday.
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Gov’t to have new fiscal plan ready for oversight board
August 10, 2016
NEW YORK — Puerto Rico Gov. Alejandro García-Padilla confirmed Tuesday that his administration will have a new fiscal plan ready shortly after the federal fiscal oversight board is “appointed and operational.”
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Ponce Health Sciences Univ. invests $1.4M in facility
August 10, 2016
The Ponce Health Sciences University, a fully accredited U.S. medical and health sciences university provides the highest quality graduate education programs available in medicine, clinical psychology, biomedical sciences, and public health, announced Tuesday the groundbreaking expansion of a 6,000 sq. ft. state-of-the art neuroscience research facility.
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