Lush Cosmetics to open 1st store in Puerto Rico in March
February 4, 2015
Lush Fresh Handmade Cosmetics, the British born ethical cosmetic retailer that offers vegetarian products for skin and hair, will open its first store in Puerto Rico at The Mall of San Juan on March 26.
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Gov’t signs Roosy Roads deal with Clark Realty Capital
February 3, 2015
The Local Redevelopment Authority for the former Roosevelt Roads Naval Base in Ceiba and Clark Realty Capital on Monday signed the agreement that marks the beginning of negotiations leading to the eventual adoption of the "Master Developer" contract, scheduled for June 30, government officials announced Monday.
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Science Trust poised to grant $2.2M for R&D projects
February 3, 2015
The Puerto Rico Science, Technology and Research Trust is on schedule to announce the recipients of about $2.2 million in funding earmarked to fuel the development of projects by local scientists and researchers in a wide field of sectors, agency Executive Director Iván Ríos-Mena told this media outlet.
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‘I-Corps Puerto Rico’ mentorship program takes off
February 2, 2015
In its quest to assist entrepreneurs parlay their ideas into successful businesses, Grupo Guayacán has teamed up with the Georgia Institute of Technology for “I-Corps Puerto Rico,” a program offering mentorship and training over the next five weekends.
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Economist: VAT could lead to uncertainty, high inflation
February 2, 2015
The implementation of a value-added tax system in Puerto Rico to replace the current sales tax structure could have a number of consequences — from uncertainty to high inflation to lower than expected fiscal revenue — that have yet to be publicly discussed, economist firm H. Calero Consulting said in its most recent “Economic Pulse” publication.
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Puerto Rico still favorite travel spot for stateside tourists
January 30, 2015
Puerto Rico ranked 14th among the 50 most popular international destinations for North American travelers, according to Hotel.com’s Hotel Price Index for 2014.
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Statistics Institute to conduct census, survey tasks in P.R.
January 29, 2015
The Puerto Rico Statistics Institute will be taking over the task of conducting census and survey activities in Puerto Rico, following the signing of an agreement with the U.S. Census Bureau and the U.S. Department of Commerce, the local agency's Executive Director Mario Marazzi said Wednesday.
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Census: Puerto Rico loses 177K residents in 4 years
January 29, 2015
Puerto Rico has lost 177,392 residents either to migration or death in the last four years, putting pressure on the economy, as well as specific sectors, — such as retail — that will need to readjust their business models to provide for future consumer behavior.
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Puerto Rico retail sales up $20.1M in October
January 29, 2015
Puerto Rico’s retail sale saw a $20.1 million increase in October, when activity exceeded $3.22 billion, Puerto Rico Trade and Export, the government agency that tracks this economic sector, said Wednesday.
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FDIC advises Doral to accept buyout offers from rivals
January 29, 2015
In a letter sent to Doral Bank earlier this week, the Federal Deposit Insurance Corp. advised the financially crippled bank to “accept an offer to combine with another insured depositary institution,” or improve its capital levels to once again be considered as “adequately capitalized.”
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P.R. jobless rate at 13.7% in Dec., labor force loses 25K
January 28, 2015
Puerto Rico’s labor force had 25,000 fewer members in December, when compared to the same month in 2013, which could account for the lower unemployment rate announced by the Labor Department Tuesday.
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Public, private sectors back energy subsidy reform
January 28, 2015
About 32 percent of Puerto Rico Electric Power Authority customers receive some sort of a subsidy on their monthly bills, which is floated by those who pay the full rate.
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Seaborne Airlines launches San Juan/Nevis connection
January 28, 2015
With the addition of a new air connection between the Luis Muñoz Marín International Airport in San Juan and Nevis, to be operated by Seaborne Airlines, tourism executives from the neighboring island touted Tuesday the benefits they offer Puerto Rican visitors.
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Agencies join to battle $5M-a-year copper theft problem
January 27, 2015
The Puerto Rico Telecommunications Regulatory Board and the Puerto Rico Police Department signed an agreement Monday to step up the fight against copper theft, which represents about $5 million in annual losses for public and private sector companies.
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Blizzard cripples air travel; grounds 27 P.R./US flights
January 27, 2015
The massive blizzard that is clobbering the northeastern United States crippled air travel between Puerto Rico and that part of the mainland Monday, when 27 inbound and outbound flights at the Luis Muñoz Marín International Airport were grounded by mid-afternoon.
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