Statistics Institute unveils website of P.R. key indicators
December 18, 2015
The Puerto Rico Statistics Institute unveiled Thursday the Puerto Rico Indicators System, a new online tool developed by the government entity to provide access to the island’s most important statistical indicators through a single platform.
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Fed interest rate hike likely not to impact P.R. economy
December 17, 2015
The decision announced Wednesday by the Federal Reserve System to increase interest rates by 25 basis points “does not represent a significant impact” on Puerto Rico’s economy or for bank customers.
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P.R. credit unions show ‘solid performance’ in past 5 yrs
December 17, 2015
Puerto Rico’s credit unions have shown “solid performance” over the past five years, with an 8 percent growth in assets and membership growth of nearly 10 percent.
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PREPA saves $312M via operational ‘transformation’
December 16, 2015
In the 15 months it has been working with stateside firm AlixPartners, the Puerto Rico Electric Power Authority has accrued $162 million in annual benefits, plus another $150 million in one-time benefits through a comprehensive operational overhaul, Chief Restructuring Officer Lisa Donahue told board members Tuesday.
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P.R. governor announces he will not seek 2nd term
December 15, 2015
Puerto Rico Gov. Alejandro García-Padilla announced Monday he will not seek re-election to his post next year, to “concentrate” on addressing the island’s fiscal problems.
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Costco to invest $2.5M in 1st gas station at Carolina store
December 15, 2015
Costco Wholesale Corp. will finally be able to break ground on its first gasoline station in Puerto Rico, a $2.5 million project that recently got the go-ahead from the Puerto Rico Permits Management Office.
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Walmart, P.R. Farm Bureau ally to grant memberships
December 15, 2015
Walmart announced Monday it has established a partnership with the Puerto Rico Farm Bureau to enable 100 local farmers to join the trade group whose pursuit is to defend the sector and further agricultural development on the island.
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Study finds challenges, opportunities for tourism sector
December 14, 2015
Puerto Rico’s tourism service providers face a number of challenges and opportunities to do business, including branding and infrastructure and mobility issues.
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Retailers peg annual shoplifting-related losses at $490M
December 10, 2015
Puerto Rico retailers and the government are losing some $490 million in annual revenue as a result of shoplifting and organized crime, members of the Puerto Rico Marketing, Industry and Food Distribution Chamber said Wednesday.
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American Cut Bar & Grill to open in P.R. is 1st for chain
December 10, 2015
When it opens next Tuesday at The Mall of San Juan, the American Cut Bar & Grill restaurant will become the first of its kind that parent LDV Hospitality opens outside the U.S. mainland, and the flagship for the new concept that will be expanded to other stateside markets in the near future.
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Gov. signs Supervisory Board bill, other fiscal measures
December 9, 2015
Puerto Rico Gov. Alejandro García-Padilla signed into law the first five measures related to the Plan for Fiscal and Economic Growth, including the measure creating the Fiscal Supervisory board, La Fortaleza confirmed Tuesday.
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CNE: P.R. needs Ch. 9 to navigate ‘unchartered waters’
December 8, 2015
Puerto Rico’s current fiscal problems are bringing up unprecedented issues that will likely be subject to interpretation by local and federal courts if the government defaults on its debt and bondholders decide to defend their contractual rights via the lawsuit route.
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Nonprofits unite to promote tourism industry start-ups
December 7, 2015
The Foundation for Puerto Rico and the Center for Entrepreneurs will join forces to develop business ideas, in 54 hours, that strengthen the island’s tourism ecosystem.
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Colgate, Walmart donate $5K to Enactus Puerto Rico
December 7, 2015
Colgate and Walmart Puerto Rico recently joined forces in a fundraiser through which they collected $5,000 that were donated to nonprofit Enactus Puerto Rico, to support sustainable development projects in economically disadvantage communities on and off the island.
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Moody’s: P.R.’s debt woes hit guaranty sector as a whole
December 4, 2015
The eventual restructuring of some or all of Puerto Rico’s $73 billion in debt obligations will carry “significant implications” for the financial guaranty sector as a whole, Moody’s Investor Service said Thursday.
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