Río Grande -- Gov. Luis Fortuño used as backdrop this year's Puerto Rico Chamber of Commerce Annual convention to announce the establishment of an alliance with the Dominican Republic to further entrepreneurial activities between the islands.
Mexican telecom giant América Móvil, parent of local incumbent carrier Puerto Rico Telephone (which does business as Claro), is in hot water with the Federal Communications Commission for violating indirect foreign ownership rules after issuing stock that increased owner Carlos Slim and his family’s corporate stronghold.
Los Angeles-based financial research firm B Riley gave Popular Inc. a cautious pat on the back this week, saying the banking institution has “solidified its capital base, and it appears to be turning the corner on asset quality,” following several years of substantial losses.
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