Two pharmaceutical giants, Bayer AG and Merck, announced this morning a deal through which the first has agreed to pay $14.2 billion for the latter’s Consumer Care Unit, picking up global trademark and prescription rights for a number of recognized brands, including Claritin and Afrin.
The indication by members of Gov. Alejandro García-Padilla’s administration of a slight economic recovery over the past two fiscal years is “simply a mirage,” and it will take significant adjustments to achieve the growth predicted for coming years, economist firm H. Calero Consulting Group Inc. said in its most recent monthly publication.
Gov. Alejandro García-Padilla signed Sunday an executive order to extend service hours for certain Puerto Rico government agencies, as was established by law more than a decade ago.
The Puerto Rico Statistics Institute is calling all entities involved in research and development activities to participate in the Science and Technology Research and Development Survey, which provides for the collection of data on R&D resources earmarked for the island, a key indicator of the knowledge economy, agency Executive Director Mario Marazzi said.
J. Walter Thompson San Juan, Badillo Saatchi & Saatchi and DDB Latina were the runaway winners of this year’s 32nd edition of the Cúspide Festival, an annual awards competition sponsored by the Puerto Rico Association of Advertising Agencies.
Backed by a market study that measured the level of recognition on the origin and other attributes of rum, the Puerto Rico Industrial Development Company and its Rums of Puerto Rico program, unveiled a new uality seal that, for the first time, will uniformly identify rums manufactured locally.
The Federal Deposit Insurance Corporation has warned Doral Bank that it may no longer include in its calculation of its Tier 1 Capital some or all of the tax receivables from the government, which represented $289 million of the bank’s approximately $679 million of Tier 1 Capital at Dec. 31, 2013.
The U.S. Department of Agriculture announced Thursday the availability of $8.8 million through its Rural Development agency to provide additional support and resources for America’s small and midsized farmers and ranchers.
Gov. Alejandro García-Padilla's administration is contemplating a number of austerity measures to scale back government expenses, including proposing an across-the-board $600 Christmas bonus for all public employees and eliminating payments of excess or unused sick days.
The Puerto Rico Planning Board is working on an integrated plan to streamline and update the process of gathering, analyzing and releasing statistics, seeking to strengthen the numbers available for the island’s economic activities, agency President Luis García-Pelatti said Wednesday.
Integrating the Puerto Rico Film Commission into the Economic Development and Commerce Department will “help align Puerto Rico’s strategies to promote the film industry, while generating efficiencies to maintain the Film Fund,” said the latter agency’s Chief Alberto Bacó-Bagué Wednesday.
The Puerto Rico Planning Board released Tuesday its economic projections for Fiscal years 2014 and 2015, in which it is estimated a base growth in real Gross Domestic Product of $6.5 billion million this year, representing an increase of 0.1 percent compared to Fiscal 2013.
The Banco Popular Foundation has teamed up with El Mesón Sándwiches to support the “Home Run por el Futuro” (“Home Run for the Future”) effort, whose mission is to raise funds for the Extra Bases Foundation, run by former Puerto Rican baseball great Carlos Delgado.
Puerto Rico Gov. Alejandro García-Padilla presented Tuesday a budget that includes about $1.4 billion in cuts, including the elimination of 23 agencies and about 100 schools, among other “rational uses of public funds.”
U.S. Bank, as joint lead arranger and administrative agent, closed on a $320 million loan for The Taubman Realty Group Limited Partnership to finance the development of The Mall of San Juan, a 650,000-square-foot shopping and entertainment complex in San Juan.
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