Cost of living in SJ metro area 11.6% higher than U.S.
June 20, 2016
Living in the Metropolitan Statistical Area of San Juan-Carolina-Caguas is 11.6 percent higher than the average for other metropolitan areas of the United States mainland, the most recent data revealed by the Puerto Rico Statistics Institute confirmed.
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Nonprofits join to deliver ‘science to your community’
June 20, 2016
The Centros Sor Isolina Ferré and the Amgen Foundation announced recently they will join forces to deliver sciences to more than 350 public high school students in low-income communities through its “Ciencia Móvil” mobile lab.
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Bond insurer files complaint against Moratorium Act
June 16, 2016
National Public Finance Guarantee Corporation, an indirect subsidiary of MBIA Inc., filed a complaint Wednesday challenging the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act, asking the court to invalidate it.
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Backyard Bondholders hosting forum on June 27
June 15, 2016
Backyard Bondholders Inc. will host its first major forum on June 27 featuring a series of conferences focusing on how Puerto Rico’s fiscal crisis is directly affecting more than 60,000 island residents holding bonds representing some $15 billion in public debt.
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Puerto Rico registers 4% small biz growth in ’15 Y-O-Y
June 14, 2016
Puerto Rico’s small- and mid-sized business sector showed a 4 percent year-over-year growth last year, when some 207,867 were in operation, up from the 199,848 up and running in 2014.
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PRASA: Water rate hike pushed off with approval of bill
June 13, 2016
Puerto Rico Aqueduct and Sewer Authority Executive Director Alberto Lázaro said Sunday the chances of an increase in water rates could be pushed back with the approval of House Bill 2786, which seeks to address the public corporation’s funding needs for capital improvements.
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US House clears PROMESA Act with amendments
June 10, 2016
Following an all-day session, the U.S. House passed H.R. 5278, known as the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”) on Thursday, with a bipartisan vote of 297-127 and a number of amendments.
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28 proposals picked for 1st edition of ‘StartUp Popular’
June 9, 2016
Twenty eight proposals from local entrepreneurs were chosen the winners of the first edition of Popular Inc.’s “StartUp Popular” initiative, which seeks to promote entrepreneurship and the economic development of Puerto Rico, bank officials said Wednesday.
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Auto sales show steady growth for 2nd month in a row
June 8, 2016
Puerto Rico new auto sales held on to positive results for the second consecutive month in May, when some 6,828 units were sold, representing a 4.3 percent growth, the United Automobile Importers Group (known as GUIA by its Spanish acronym) informed Tuesday.
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New home insurer offers 20% refund for clean slate
June 8, 2016
Following the success achieved with auto accident insurance firm Point Guard, the founding trio of entrepreneurs are now launching Puerto Rico Home Insurance, offering the only local home insurance policy that reimburses consumers 20 percent of their annual premium if they have no claims during the coverage year.
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Walmart launches fundraiser for P.R. Olympic team
June 8, 2016
Walmart Puerto Rico announced Tuesday an alliance with the Puerto Rico Olympic Committee to launch a fundraising campaign to support athletes training to represent the island in the next Olympic event in Brazil.
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G25 credit unions unveil debt restructuring proposal
June 7, 2016
Twenty-five members of Puerto Rico’s credit union sector unveiled today in New York a proposal to restructure the bulk of the government’s outstanding public debt, which calls for reducing the payment burden and providing guarantees to creditors.
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EDB limits credit lines to $500K from $5M due to crisis
June 7, 2016
As part of a strategy to face the government’s current liquidity challenges and continue contributing to the island’s economic development, the Puerto Rico Economic Development Bank announced Monday it will be capping credit lines at $500,000 from the $5 million limit it formerly offered.
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P.R. tourism leaders agree on need for industry stats
June 6, 2016
More than a handful of local tourism leaders gathered for a panel discussion hosted by the Foundation for Puerto Rico concurred there is a need for a multi-sector tourism statistics database to be able to gauge the visitor economy and its economic impact.
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Toyota Dealers Assoc. backs pediatric cancer patients
June 6, 2016
The Toyota Dealers Association will be donating $100 to the CAP Foundation for every homerun connected by the Superior Double A Baseball League through the end of the season that ends in August to support pediatric cancer patients receiving treatment at the Medical Center Pediatric Hospital.
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