Puerto Rico labor survey methods to undergo overhaul
February 21, 2014
The U.S. Bureau of Labor Statistics and the Puerto Rico Statistics Institute announced Thursday a series of changes to the methodology used to create Puerto Rico’s labor surveys, to align them with what is done and is available stateside and in most developed countries, officials for both agencies said.
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Jaguar, Perrurican file for Ch. 11 bankruptcy protection
February 21, 2014
Puerto Rico’s overall bankruptcy filings may have dropped in recent months, but that trend isn’t preventing major businesses — and scores of individuals — from seeking the court’s help in droves.
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Whirlpool plans to boost Puerto Rico’s role as hub
February 21, 2014
With its eye set on strengthening Puerto Rico’s role as its hub in the Caribbean, appliance brand Whirlpool will focus this year’s efforts on identifying areas of opportunity in service and product development as part of its commitment to bet on the island during challenging economic times, company officials said Thursday.
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Claro looking to pull plug on its PhoneMax VoiP service
February 20, 2014
Puerto Rico Telephone, which does business as Claro, is looking to pull the plug on its Voice over Internet Protocol-based PhoneMax service, some eight years after breaking ground with the next-generation tool.
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Doral Bank launches ‘Naricitas de Amor’ campaign
February 20, 2014
In its ongoing commitment to invest in cancer treatment awareness in Puerto Rico, Doral Bank launched Wednesday “Naricitas de Amor,” a new campaign to benefit the Pediatric Cancer wing of the Antonio Ortiz Children’s Hospital.
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Univ. signs collaborative agreements to create jobs
February 20, 2014
The Center for Empowerment and Free Enterprise at the Universidad del Este in Carolina signed several collaborative agreements with private-sector organizations, the government and communities, to spur job creation in Puerto Rico, college officials announced Wednesday.
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GDB plans to issue debt in March via ‘speculative’ deal
February 19, 2014
The Puerto Rico government is paving the way for a general obligation bond sale next month through which it seeks to raise as much as $3.5 billion to improve the Government Development Bank’s liquidity, high-ranking administration officials said Tuesday.
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EVERTEC launches ‘ATH Móvil’ mobile money transfers
February 19, 2014
EVERTEC Inc. and Red ATH, which run the island’s ATMs, announced Tuesday the launching of “ATH Móvil,” a service that enables electronic money transfers between individuals and accounts held by different banking institutions, through mobile phones.
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Flamers, Bora Bora busted for not paying $1.2M in IVU
February 19, 2014
Two executives who own the Bora Bora and Flamers retail establishments are facing 36 counts of tax evasion and illegal appropriation of public funds for failing to remit more than $1.2 million in sales and use tax money collected between 2009 and 2012, according to the findings of a joint investigation by the Puerto Rico Justice and Treasury Departments.
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Restaurant chain creating 460 jobs with gov’t support
February 19, 2014
Puerto Rican sister companies Apple Caribe Inc. and Famous Caribe Inc., operators of the Applebee’s and Famous Dave’s chains, respectively, will create a total of 460 full-time jobs supported by the incentives provided through the Jobs Now Act passed by the current administration a year ago.
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T-Mobile creating jobs, expanding 4G LTE network in ’14
February 19, 2014
Wireless carrier T-Mobile announced Tuesday part of its plans for this year, which include adding jobs, expanding its 4G LTE network and expanding its portfolio of products and services, including a new equipment protection and trade-in program for its Puerto Rico customer base.
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Claro, UIET labor group sign 3-year contract agreement
February 19, 2014
Following almost two years of tough negotiations that included a lawsuit in court and major employee protests, the management at Claro de Puerto Rico and the Independent Telephone Workers Union, known as UIET in Spanish, signed a three-year collective bargaining agreement on Jan. 30.
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Oriental kicks off tax season with diversified growth IRA
February 19, 2014
Oriental Bank is kicking off this year’s tax season, when individuals are seeking money management tools to reduce their obligations with the government, with its Diversified Growth IRA (DGI) campaign, a collective investment fund that has yielded positive growth results over the past decade.
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ASES finds $9.7M in duplicate payments to health plans
February 18, 2014
The Puerto Rico Health Insurance Services Administration, or ASES in Spanish, stands to recover about $9.7 million in duplicate payments made to insurance companies for services provided to patients covered by the government’s health plan, agency Executive Director Ricardo Rivera said Monday.
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Puerto Rico Planning Board adopts ag reserve in Añasco
February 18, 2014
The Puerto Rico Planning Board recently adopted the Añasco Valley Agricultural Reserve.
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