Payco Foods cuts ribbon on new Puerto Rico HQs
June 16, 2014
Payco Foods, Puerto Rico’s main ice cream and frozen foods distributor, recently officially inaugurated its 29,000 square-foot new distribution center and headquarters in Bayamón.
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Lara: 2015 ‘emergency budget’ is 1st step to recovery
June 13, 2014
The government’s proposed budget for Fiscal 2015 is an “emergency budget” that should not be confused with the fiscal framework Puerto Rico should have to ensure the economy works the way it wants it to in the future.
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New EDB product to support community pharmacies
June 13, 2014
The Economic Development Bank on Thursday announced a partnership with the Puerto Rico Community Pharmacies Association to launch a new product to help promote the sector’s growth through financing new and existing operations.
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Fitch cuts Puerto Rico Electric Power Auth’s credit to junk
June 12, 2014
Fitch Ratings downgraded Wednesday the rating on $8.7 billion of the Puerto Rico Electric Power Authority’s power revenue bonds to “BB” from “BB+,” putting them at junk level. In addition, Fitch also placed the “BB” classification on rating watch negative.
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Gov. signs law to support small, mid-sized businesses
June 12, 2014
Gov. Alejandro García-Padilla on Wednesday signed Law 545, known as the “Microenterprise, Small and Mid-Sized Business Support Act,” to support that sector of the Puerto Rican economy.
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7th Coca-Cola Classic Golf Tourney is June 19th
June 12, 2014
Looking to reinforce its commitment to the community, Coca-Cola Puerto Rico Bottlers will be hosting the 7th edition of the Coca-Cola Classic Golf Tournament on June 19 at the Palmas Athletic Club in Humacao.
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182K ex-Centennial clients to split $1M in suit settlement
June 11, 2014
A group of 182,442 customers of the defunct Centennial de Puerto Rico will be splitting about $1 million after winning a class-action suit against the carrier that is now part of AT&T Puerto Rico over improperly collected municipal tax fees from July 2009 to December 2009.
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Econo Supermarket outranks competitors in DACO study
June 11, 2014
Puerto Rican supermarket chain Econo received the best marks in a study conducted by the Consumer Affairs Department, known as DACO, which evaluated the performance of the island’s best-known grocers.
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Preliminary May 2014 collections beat estimate by $29M
June 10, 2014
Puerto Rico Treasury Secretary Melba Acosta-Febo said today that preliminary General Fund revenue collections for May totaled $753 million, exceeding collections for the same month of last year by $141 million, or 23 percent, and beating estimates by $29 million.
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Treasury pushes back start of IVU collections at ports
June 10, 2014
The Puerto Rico Treasury Department has pushed back the start of collections of Sales and Use Tax (known as IVU in Spanish) for merchandise coming through the island’s ports by a month, to Aug. 1, agency officials said Monday.
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Convention Center district developments fueling activity
June 9, 2014
The Puerto Rico Convention Center management team hosted this weekend a business meeting for clients and sponsors to unveil the new plans for the meeting facility and the Conventions District Authority in Miramar.
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Doral sues Puerto Rico gov’t over denied $230M refund
June 6, 2014
Doral Financial Corp. filed a lawsuit at the San Juan Superior Court and a Writ for Certification in the Puerto Rico Supreme Court, alleging that the government illegally nullified its agreement to refund the bank nearly $230 million in tax overpayments.
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Puerto Rico Tourism Co. looks to promote local activity
June 6, 2014
The Puerto Rico Tourism Co. unveiled Thursday its “Five Star Vacations” campaign, aimed at encouraging local tourism on the island to help stimulate economic activity.
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Claro offers new plans to clients who bring own phones
June 6, 2014
Telecommunications carrier Claro de Puerto Rico announced Thursday a gamut of new plans exclusive to clients who bring their own devices when they sign up for service.
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Survey: Puerto Rico broadband availability reaches 77%
June 5, 2014
New research released Wednesday by Connect Puerto Rico shows that broadband availability at speeds of at least 50 Mbps download/1.5 Mbps upload available in Puerto Rico has more than tripled from 24.3 percent in October 2013 to 76.9 percent in April 2014, excluding mobile wireless services.
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