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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Planning Board pegs ’15 economic growth at 0.2%
April 30, 2014
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.
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Banco Popular, El Mesón team up for good cause
April 30, 2014
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.
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Governor pitches $9.64B budget, ‘reconstruction plan’
April 29, 2014
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.”
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U.S. Bank closes on $320M loan for Mall of San Juan
April 29, 2014
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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2nd Famous Dave’s restaurant opens in Bayamón today
April 28, 2014
A year after making its local debut in Carolina, Famous Dave’s is opening its second BBQ restaurant in Bayamón today — a $2 million, 6,000 square-foot operation that will generate 275 jobs.
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P.R. Products Assoc. unveils proposals, elects new board
April 28, 2014
The Puerto Rico Products Association held its annual convention this weekend, when it unveiled its proposals for economic development as well as elected its new board of directors.
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Puerto Rico in hot pursuit of stateside investors
April 25, 2014
Puerto Rico is in hot pursuit of the wealthiest stateside investors, with the public and private sectors banding together to showcase the benefits — both legal and natural — that the island has to offer.
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Claro connects Puerto Rico to 100 Gigabit-capable cable
April 25, 2014
Puerto Rico on Thursday became the final connecting point of a $1.1 billion high-speed submarine cable system deployed by telecommunications provider América Móvil that is capable of offering broadband transmission speeds of up to 100 Gigabits per second.
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WEF report: Puerto Rico experimenting ‘digital paradox’
April 24, 2014
Puerto Rico slipped five notches to 41st place in this year’s World Economic Forum’s Global Information Technology Report, yet remains ahead of other countries in the region in terms of connectedness, local experts said Wednesday upon analyzing the results.
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Popular scaling back stateside opps, earns $86.4M in 1Q
April 24, 2014
Popular Inc. confirmed Wednesday it will be scaling back its U.S. mainland operations by divesting its branches in California, Illinois and Central Florida and centralizing certain back office operations in Puerto Rico and New York.
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Liberty Puerto Rico turns to cloud to personalize service
April 24, 2014
Liberty Puerto Rico is partnering with technology provider ActiveVideo to launch of a cloud-based personalized user interface that uses real-time viewing metrics to display program popularity and offers insight into how viewers find television content in a social context.
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Sheraton Old San Juan completes $4M in renovations
April 24, 2014
The Sheraton Old San Juan Hotel & Casino has completed an extensive, $4 million renovation of its facilities, including upgrades to guest room, corridors, and key public areas, the Palio Restaurant, as well as building exteriors and new technology, sales and marketing director Armando Emanuelli said Wednesday.
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Ports: Cruise ship business up 15.2% in San Juan
April 24, 2014
Cruise ship business at the Port of San Juan is up 15.2 percent for the first nine months of the fiscal year, representing an increase of 124,619 passengers year-over-year, Puerto Rico Ports Authority Executive Director Víctor Suárez said Wednesday.
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Honeywell Aerospace to open new $35M high-tech lab
April 23, 2014
Honeywell Aerospace announced an agreement with the government to establish a new $35 million electromagnetic compatibility and environmental test laboratory in the mountain town of Moca.
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