Puerto Rico Treasury has cut $147.2M in tax refunds
May 8, 2014
The Puerto Rico Treasury Department announced Wednesday it has cut $147.2 million in tax refunds corresponding to 247,744 tax returns during the current tax cycle, representing $80 million more than what was disbursed at this time last year.
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Products Assoc.: Puerto Rico needs a coherent plan
May 7, 2014
The Puerto Rico Products Association unveiled Tuesday five key recommendations gathered during its recent annual convention, to help the island get back on the path of cohesive economic development.
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Triple-S reports $584.8M in revenue for 1Q14
May 7, 2014
Triple-S Management Corp. managed care company announced Tuesday consolidated revenues of $584.8 million and consolidated operating income of $10 million for the three months ended Mar. 31, 2014.
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PRIDCO seeks RFPs to run sugarcane harvest project
May 7, 2014
The Puerto Rico Industrial Development Company is seeking an operator for the second and third phases of the recently launched sugarcane harvesting project, opening a call for Request for Proposals on Tuesday.
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Bayer AG picks up Merck Consumer Care unit for $14.2B
May 6, 2014
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.
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Economist: Indication of economic growth is a ‘mirage’
May 6, 2014
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.
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Gov. signs order extending public agency service hours
May 5, 2014
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.
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Statistics Institute opens call for science & tech. survey
May 5, 2014
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.
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Advertising creativity rewarded at Cúspide 2014 festival
May 5, 2014
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.
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‘Rums of Puerto Rico’ gets new brand identity
May 5, 2014
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.
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Doral developing revised capital plan to address liquidity
May 2, 2014
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.
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USDA announces more support for farmers, ranchers
May 2, 2014
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.
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Gov’t talks options to slash costs while keeping workers
May 1, 2014
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.
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Planning Board overhauling economic analysis methods
May 1, 2014
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.
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Film Commission programs will remain in place
May 1, 2014
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.
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