SBA honors Puerto Rico entrepreneurs at annual awards
May 18, 2015
The U.S. Small Business Administration honored this year’s top achievers — bestowing awards in Puerto Rico and the U.S. Virgin Islands to recognize the enormous contributions small businesses make to the economies of both islands.
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$59M properties in Cabo Rojo, Aguadilla on auction block
May 15, 2015
Los Angeles-based Premiere Estates Auction Company announced Thursday a multi-property auction that includes sprawling beachfront sites in Aguadilla and Cabo Rojo, with a combined listing price of $59 million.
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Gov’t mulling at least 6 hybrid tax structure alternatives
May 14, 2015
Lawmakers and members of the executive branch gathered at the Puerto Rico Convention Center today are said to be considering six different scenarios that would combine a hybrid structure of a sales and use tax and a general excise tax to shore up the government’s finances.
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Experts: Puerto Rico on right track in use of tech tools
May 14, 2015
Puerto Rico’s current financial crisis might just be the opportunity for the government to stay on track with its strategy of collaborating with private-sector technology companies to find solutions to its problems and improve services to citizens.
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Puerto Rico’s economic activity at -0.4% YOY in March
May 14, 2015
The Puerto Rico Government Development Bank on Wednesday released a revised Economic Activity Index for March that registered a -0.4 percent year-over-year reduction, and a month-over-month increase of 0.5 percent.
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TRB, telecom providers collaborating on sector metrics
May 14, 2015
The Puerto Rico Telecommunications Regulatory Board has set the ball rolling on an initiative to gather data from the island’s broadband providers to define the sector’s contributions to the economy, with results expected to be ready in a year, agency President Javier Rúa-Jovet said Wednesday.
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Ports opens RFP for Puerto Rico’s 1st mega yacht marina
May 14, 2015
The Puerto Rico Ports Authority on Wednesday announced the opening of a request for proposals for leasing, development, financing, construction and operation of a marina for mega yachts and transform the dry dock of San Juan into a leading center for repair and maintenance of vessels.
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García-Padilla asks for support of 13.25% VAT
May 13, 2015
Saying it “is the best option” to solve the government’s fiscal problems, Gov. Alejandro García-Padilla re-introduced Tuesday a proposal to establish a value added tax system he said would generate more than $2.5 billion in net revenue for the cash-strapped administration.
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MIDA: Consumers cut monthly grocery spending by 14%
May 13, 2015
Puerto Rican consumers have reduced the how much they spend on monthly groceries by 14 percent, to $425 from $492, representing a major challenge to local retailers, this year’s edition of the Puerto Rico Marketing, Industry and Food Distribution Chamber’s Consumer X-Ray study revealed.
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Treasury reports $1.3B in April revenue, is short $97M
May 12, 2015
The Puerto Rico Treasury Department revealed Monday that it shored up more than $1.3 billion in revenue for the government, but admitted it fell short by $97 million compared to estimates.
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$9.8M DownTown Caguas project to rehab urban center
May 12, 2015
Stagione Designs and the Caguas Municipal government announced Monday a sweeping $9.8 million plan to revitalize the town’s urban center, christened as DownTown Caguas.
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Spanish investors on mission to Puerto Rico this week
May 11, 2015
The Spanish Institute for Foreign Trade, in collaboration with the Department of Economic Development and Commerce, have organized the first mission of Spanish investors to visit this island this week, the Puerto Rico government agency announced.
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Starbucks launches loyalty program in Puerto Rico
May 11, 2015
Starbucks Puerto Rico has launched its rechargeable card as part of its “My Starbucks Rewards” customer loyalty program.
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Bahía Plaza, retail tenants announced for Paseo Caribe
May 7, 2015
CPG Real Estate, the company tasked with developing the upscale Paseo Caribe project in San Juan, announced Wednesday the arrival of high-profile retail tenants, as well as the availability of residences at Bahía Plaza, the newest of the three towers at the complex.
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P.R. ranks 55th on WEF’s tourist-friendly countries list
May 7, 2015
Puerto Rico positioned itself 55th out of 141 of the globe’s most tourist-friendly countries listed in the World Economic Forum’s global Travel & Tourism Competitiveness Index released Wednesday.
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