Governor creates construction industry advisory board
January 30, 2014
Gov. Alejandro García-Padilla signed an executive order Wednesday establishing a nine-member construction industry advisory board, at the behest of the sector, which seeks to work with the government to improve conditions to do business in Puerto Rico.
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Puerto Rico’s regional airports offering free WiFi access
January 30, 2014
Puerto Rico Ports Authority Executive Director Víctor Suárez announced Wednesday that the regional airports in Aguadilla, Ponce, Ceiba, Vieques and Culebra are now offering free WiFi access as part of the agency’s plan to improve its infrastructure throughout the island.
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$292.6M in infrastructure projects in pipeline for ’14
January 29, 2014
The Infrastructure Financing Authority will begin construction this year of about 20 projects, representing an investment of $292.6 million and the creation of 3,504 jobs in Puerto Rico, agency Executive Director Grace Santana said Tuesday.
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Puerto Rico’s jobless rate soars to 15.4% in Dec. ’13
January 29, 2014
Puerto Rico’s unemployment rate jumped by a full percentage point year-over-year in December, when it reached 15.4 percent, Puerto Rico Labor Department statistics revealed Tuesday.
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Electrolux Puerto Rico wraps up ’13 with 5% growth
January 29, 2014
After wrapping up 2013 with a 5 percent growth in total sales, the launch of a new line of appliances, and more than 20 new customers and distribution channels added to its portfolio, Electrolux Puerto Rico plans to hold up its business and service model this year with the goal of maintaining its operation as a major hub for the Central America and Caribbean region, company officials said.
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Lifestyle Footwear expanding in Moca, adding 182 jobs
January 29, 2014
Shoe manufacturer Lifestyle Footwear in Moca has invested $2.1 million to improve its plant and will add 182 new jobs to its payroll after securing a new contract from the U.S. Department of Defense, company and government officials announced Tuesday.
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Tourism execs, gov’t launch anti-illegal gambling push
January 28, 2014
The Puerto Rico Hotel and Tourism Association, in conjunction with the Puerto Rico Tourism Company, announced Monday the start of an educational campaign to urge island residents not to support illegal gaming.
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Puerto Rico’s fiscal team meeting with ratings agencies
January 27, 2014
A contingent of the government’s fiscal team is in New York today for two days of meetings with credit ratings agencies Standard & Poors, Fitch and Moody’s, which are all keeping close tabs on Puerto Rico’s financial problems and the steps being taken to address the crunch.
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Ben & Jerry’s brings sense of community to San Juan
January 27, 2014
When you think of Ben & Jerry’s, the first thing that probably pops into your head is the seemingly endless variety of the company’s luscious, premium ice cream and their tongue-in-cheek names.
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Popular Inc. reports 144% profit hike to $599.3M in ’13
January 24, 2014
Popular Inc., parent company of Banco Popular de Puerto Rico, saw its net income increase by 144 percent year over year to $599.3 million for the year ended December 2013, in comparison to the $245.2 million reported for the prior 12-month period.
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’14 kicks off with a number of executive appointments
January 24, 2014
Puerto Rico's private sector kicked off 2014 with a handful of executive appointments in hospitality, retail and commerce.
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Allied Car & Truck Rental opens 2 new locations
January 24, 2014
Local vehicle rental company Allied Car & Truck Rental recently opened two new locations — in Carolina and Naranjito — investing some $6.8 million in infrastructure and fleet.
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Gov’t looks to revive Puerto Rico’ s sugar industry
January 23, 2014
Twelve years after the last sugar harvest took place in Puerto Rico, three government agencies are getting together to provide financial and technical support to help revive the sector that was once the backbone of the island’s economy.
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Auto trade group: Puerto Rico sales will be ‘stable’ in ’14
January 23, 2014
The United Group of Automobile Importers, (known as GUIA for its initials in Spanish), predicted Wednesday a stable 2014 for auto sales in Puerto Rico and the U.S. Virgin Islands, after wrapping 2013 with virtually flat results.
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PREPA signs off on 6 renewable energy contracts
January 22, 2014
The Puerto Rico Electric Power Authority has reached agreements with six renewable energy companies who will now produce power that is expected to generate $63 million in savings for the agency in 20 years, Executive Director Juan Alicea said Tuesday.
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