Doral gets $181.3M cash boost from asset sale
January 16, 2015
Doral Bank, a wholly owned subsidiary of Doral Financial Corporation, announced Thursday the completion of the sale of of certain loans, advances, mortgages, and loan participation rights to WOMF REV, LLC, which will shore up $181.3 million in cash for the troubled financial institution.
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Agriculture Dept. gets $720K to protect Yabucoa lands
January 16, 2015
The Puerto Rico Agriculture Department announced Thursday it has received $720,000 from the Natural Resources Conservation Service to protect and preserve the lands belonging to the Yabucoa Valley Reserve in that eastern town.
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Puerto Rico Planning Board releases Land Use Plan draft
January 15, 2015
The Puerto Rico Planning Board released Wednesday the draft of the much-awaited Land Use Plan, which seeks to establish public policy for sustainable development on the island for the next decade.
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Google Inc. to roll out modular smartphone project in PR
January 15, 2015
Puerto Rico’s thriving and diverse mobile device user base and presence of international wireless carriers appears to have been the key factors to convincing one of the world’s largest technology developers, Google Inc., to launch a smartphone pilot program that could thrust the island into the international spotlight.
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PR, DR governments sign multiple bilateral agreements
January 14, 2015
The governments of Puerto Rico and the Dominican Republic signed Tuesday a series of bilateral agreements that seek to promote economic, academic, scientific, security, and cultural experiences between the two islands that share deep historical ties.
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Popular adds Touch ID security to ‘Mi Banco Móvil’
January 14, 2015
Banco Popular announced Tuesday the launch of a new feature in its mobile banking system that allows customers to access their accounts using their fingerprint.
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FDIC rejects Doral’s revised capital restoration plan
January 13, 2015
Doral Financial Corp. told the Securities and Exchange Commission Monday that the revised capital restoration plan submitted to the Federal Deposit Insurance Corp. last week was rejected for failing to “meet the criteria.”
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Software developer Wovenware expands, creates 40 jobs
January 12, 2015
Wovenware, a local software development company, will invest some $250,000 to expand its local operations and create 40 new jobs over the next two years, executives announced Monday, flanked by high-ranking Puerto Rico government officials.
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Military clothing manufacturer Raine opens in Mayagüez
January 12, 2015
Raine de Puerto Rico, a subsidiary of Indiana-based Raine Inc., has established new operations in Mayagüez, through a $920,000 investment that will create 10 jobs, company and government officials announced.
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Puerto Rico bankruptcy filings -20% YOY in December
January 9, 2015
Bankruptcy filings were down 20 percent year-over-year in December, when a total of 839 cases were filed, according to preliminary figures released Thursday by research firm Boletín de Puerto Rico.
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Atento pumps $500K into Caguas call center expansion
January 9, 2015
The Atento call center in Caguas is investing $500,000 to expand its customer relationship management services that will generate 200 new jobs in 24 months, Gov. Alejandro García-Padilla announced Thursday during a tour of the facilities.
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Montehiedra mall owner restructures $120M debt
January 8, 2015
New Jersey-based Vornado Realty Trust announced Wednesday the modification of the $120 million, 6.04 percent mortgage loan secured by its Montehiedra Town Center.
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AT&T launches ‘rollover’ plan — this time for data
January 8, 2015
Wireless carrier AT&T announced Wednesday it is bringing back its “Rollover” concept — introduced initially for minutes of talk time — but this time for data.
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Medtronic shareholders approve Covidien acquisition
January 7, 2015
Minneapolis-based Medtronic Inc. announced Tuesday that its shareholders approved the proposed $43 billion merger with chief rival Covidien, announced last June.
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Bankruptcy cases at -1% through Nov.; Debt flat at $1.7B
December 30, 2014
The number of bankruptcy cases filed on the island during the first 11 months of 2014 represented at 1 percent year-over-year drop, according to data released Monday by local research firm Boletín de Puerto Rico.
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