Lufthansa Technik to open $57M Aguadilla service center
April 11, 2014
Lufthansa Technik and the Puerto Rico government announced Thursday an agreement to create a new $57 million aviation maintenance, repair and overhaul facility in Puerto Rico, which will service short-haul and medium-haul aircraft.
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Banks join automakers in inaugurating new dealerships
April 11, 2014
Oriental Auto, a division of Oriental Financial Group, and FirstBank made back-to-back announcements this week of their support of the auto industry, partnering with them to open new dealerships this week.
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Homebuilders: End of ‘Mi Casa Propia’ will hurt sector
April 10, 2014
The head of the Homebuilders Association, Roberto Trápaga, warned Wednesday that funds that fuel the successful “Mi Casa Propia,” a government assistance program that provides mortgage assistance to working people with limited resources, are practically tapped out.
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Puerto Rico could reap $500M from recycling cans, bottles
April 10, 2014
Puerto Rico Solid Waste Authority officials said Wednesday that the island is losing out on some $500 million annually on processing recyclable containers — particularly aluminum cans and glass bottles — that end up in landfills.
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Safety Tracker Software LLC expands to Central America
April 10, 2014
Safety Tracker Software LLC, a Puerto Rico based technology start-up specializing in environmental, occupational health and safety software, announced it has expanded operations into the Central America region.
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Walmart receives recognition from Puerto Rico Products
April 10, 2014
The Puerto Rico Products Association recently bestowed its “Local Business Support Award” to Walmart, acknowledging its commitment to promoting local manufacturing and agriculture, thus supporting the island’s socio-economic development, the retailer’s Regional General Manager, Jaime Fernández, said Wednesday.
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YTD revenue collections top $6B, but fall short in March
April 9, 2014
General Fund collections for the month of March totaled $785 million, down 9.7 percent when compared to the $1 billion on record for March 2013.
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Caguas waste transfer station gets $1.1M improvement
April 9, 2014
The municipality of Caguas and Waste Management inaugurated Tuesday the remodeled facilities of the waste transfer station, improved at a cost of $1.1 million in private funding.
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Popular gives clients free ads through new campaign
April 9, 2014
Popular Inc. announced Tuesday a new institutional campaign offering clients who use its Mi Banco services the chance to promote their businesses or entities for free through several outlets, bank officials said.
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‘Pon de Plaza’ service carts 25K passengers in 6 months
April 9, 2014
The “El Pon de Plaza” service offered at shopping center Plaza Las Américas carted its 25,000th passenger Tuesday, six months after the free transportation began in September 2013.
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Study: Puerto Rico is ideal site for high-tech ventures
April 8, 2014
Puerto Rico is a hospitable place when it comes to protecting intellectual property (IP) rights, which coupled with incentives and favorable business conditions, make the island an attractive place to set up and expand high-tech firms, a study commissioned by Microsoft Corp. conducted by “The Economist” revealed Monday.
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Gov’t to pursue business opportunities in LatAm, Europe
April 8, 2014
The government of Puerto Rico plans to spend $750,000 over a 12 month-period starting in June to open and run commercial offices in Colombia and Perú — and launch a magazine to document its actions — to drum up business in Latin America and establish the island as the bridge between that region, Europe and the United States.
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GDB spends $2.6M on stateside debt restructuring firms
April 8, 2014
The Government Development Bank for Puerto Rico spent $2.6 million to pay for the services of two stateside law firms, Cleary Gottlieb Steen & Hamilton LLP and Proskauer & Rose LLP, seeking advice on “financing plans and other related matters.”
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Claro adding Samsung Galaxy S5 to lineup today
April 8, 2014
Claro and Samsung Electronics announced the arrival of the highly anticipated Galaxy S5 smartphone and accompanying Gear accessories, which the carrier is adding to its lineup before other local wireless competitors.
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Sports Authority CEO: ‘This culture is intertwined with sports’
April 7, 2014
Sporting goods retail chain Sports Authority’s arrival to Puerto Rico coincides with a time of economic challenges for the island that also represent opportunities for a company that has been considering coming here for more than a decade.
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