Bankers ‘frustrated,’ monitoring gov’t solutions to crisis
April 28, 2015
The heads of the island’s two largest banks took turns in recent days expressing their concerns about the current fiscal scenario and whether political leaders are willing to make the right decisions to put Puerto Rico’s economy back on track.
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Radisson Ambassador Plaza closing in Condado April 29
April 28, 2015
The Radisson Ambassador Plaza Hotel & Casino San Juan will be closing its doors April 29, citing failed attempts to sell the property during the past year.
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Economist: Sense of crisis prevails, decision time is now
April 27, 2015
Going into its eighth year of negative growth, Puerto Rico needs to become accountable for its “sad state” of internal affairs and make a number of necessary decisions to recover growth in fiscal years to come and put an end to the prevailing sense of crisis, said economist firm H. Calero Consulting Group in the most recent edition of its internal publication “Pulse.”
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AT&T grants $38K to undergrad Sacred Heart students
April 27, 2015
Sacred Heart University recently received a $38,000 contribution from AT&T to support 31 undergraduate scholarships for students with satisfactory academic performance, financial need, and a demonstrated commitment to their careers will be able to participate.
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Olive Garden to hire 250 for San Patricio restaurant
April 27, 2015
Looking to promote local economic development and job creation, Puerto Rican company Restaurant Operators Inc., announced it is looking to fill 250 slots at its second Olive Garden restaurant expected to open this summer in San Patricio Plaza in Guaynabo.
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Momentum builds for and against Ch. 9 inclusion bill
April 23, 2015
U.S. Congress is still “weighing the merits” of H.R. 870, known as the Puerto Rico Chapter 9 Uniformity Act, as momentum builds from outside groups for and against the measure that would authorize the island’s government to restructure its fiscal obligations under Chapter 9 of the U.S. bankruptcy code.
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Sun West Mortgage opens new Guaynabo headquarters
April 23, 2015
After four years of having successfully established itself on the island, mortgage finance company Sun West Mortgage Company inaugurated Wednesday its new expanded headquarters in Guaynabo’s Maramar Square, from where it will collaborate with offices in the U.S. mainland and the U.S. Virgin Islands.
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Puerto Rico Restaurant Week returns May 27-June 3
April 23, 2015
Puerto Rico will celebrate the fourth edition of the “Puerto Rico Restaurant Week” gastronomic event, slated to take place from May 27 to June 3.
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Pronto Wash reinvents itself, increases traffic
April 23, 2015
Pronto Wash, an operator of car wash facilities at 17 malls, recently overhauled its marketing program to attract more customers through memberships. As a result, the chain said it has a “significant traffic increase” and signed up more then 1,000 new members in nine months.
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Popular invests $250K in Community Investment Fund
April 23, 2015
Fulfilling its social responsibility goals, Banco Popular recently became the first bank to invest in the Community Investment Fund run by the Puerto Rico Community Foundation, investing $250,000.
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GDB: Puerto Rico gov’t could shut down in 3 months
April 22, 2015
The Puerto Rico Government Development Bank (GDB) warned Gov. Alejandro García-Padilla that without an approved tax reform and a budget adjusted to public spending and the island’s fiscal reality, the government could run out of money and shut down within the next three months.
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Science Trust grants $1.8M to 12 local scientific projects
April 22, 2015
The development of new drugs against malaria, the creation of hybrid technologies to further communications and aviation, as well as advances in biotechnology to purify water, are several of the initiatives that will be made possible thanks to the awarding of grants for 12 scientific projects, given by the Puerto Rico Science, Technology & Research Trust.
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Economist: Oil tax and government liquidity don’t mix
April 21, 2015
The strategy set forth by Gov. García-Padilla’s administration to try shore up liquidity for the Government Development Bank for Puerto Rico through the reliance on a recently approved oil tax hike may fall short if prices increase, or the island’s population continues to shrink, economist firm H. Calero Consulting exposed in its most recent monthly publication.
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Facebook includes Gustazos in global success stories list
April 21, 2015
Social media giant Facebook recently added Puerto Rican online marketing company Gustazos.com to its list of “success stories,” praising the firm’s use of the platform to further its business.
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Popular rolls out new mobile banking services, iPad app
April 21, 2015
Banco Popular de Puerto Rico announced Monday the addition of new free mobile banking services through its “Mi Banco Móvil” platform, including a tailored app for iPad users.
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