Moody’s wrapping up analysis of Puerto Rico credit
January 3, 2014
Moody’s Investors Service is set to conclude its review of Puerto Rico’s credit and fiscal situation in coming weeks, when it will focus on key issues of liquidity, budget performance and economic outlook, the New York-based agency said in a report released Thursday.
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Puerto Rico manufacturing PMI up to 53.1 in November
January 3, 2014
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector increased to 53.1 in November, remaining above the threshold level for the fourth consecutive month on a non-seasonally adjusted (NSA) basis, according to the report released Thursday.
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González tapped to head Public Buildings Authority
January 3, 2014
Gov. Alejandro García-Padilla on Thursday submitted to the Public Buildings Authority board the appointment of engineer Ángel L. González-Carrasquillo as the new executive director of that government agency.
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Verdanza Hotel management betting on good 5th year
December 31, 2013
The Verdanza Hotel, an independent full-service hotel, is entering its fifth year of operations with optimism and betting on a good peak tourism season that will fuel its projects in 2014, and beyond.
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Developer: Cayo Largo hotel in Fajardo to open in ’17
December 31, 2013
Nearly two decades after it was first unveiled with massive enthusiasm — only to be held up by a protracted legal battle that basically left it in shambles — the Cayo Largo hotel development project is finally expected to move forward in Fajardo starting next year, for an opening in 2017, this media outlet learned.
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Yogen Früz chain grows to 30 stores in Puerto Rico
December 31, 2013
Frozen yogurt franchise Yogen Früz has increased its presence in Puerto Rico to 30 stores with the recent opening of two new locations at the Rexville Town Center in Bayamón and Galería Juncos, company officials confirmed.
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Town of Hormigueros inaugurates 1st greenhouse
December 30, 2013
Following an investment of $234,000 the town of Hormigueros recently inaugurated its first greenhouse dedicated to producing green peppers, tomatoes and other produce varieties, said town Mayor Pedro García- Figueroa, during an event at the San Romualdo community.
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Puerto Rico needs to focus on information tech sector
December 27, 2013
At a time of slow growth and continued volatility, many countries are looking for policies that will stimulate growth and create new jobs. Information communications technology (ICT) is not only one of the fastest growing industries — directly creating millions of jobs — but it is also an important enabler of innovation and development.
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Turtle Bay Inn joins Tourism Co.’s ‘paradores’ program
December 27, 2013
The Puerto Rico Tourism Co.’s “paradores” program recently added its 18th member, with the inclusion of the eco-friendly Turtle Bay Inn in the La Parguera sector in Lajas, the agency’s Executive Director Ingrid Rivera-Rocafort recently announced.
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Puerto Rico banking regulator sees tough year ahead
December 26, 2013
Following a year during which Puerto Rico’s banking sector has been mindful of its operating costs and some have specialized in areas where they believe to be most competitive, 2014 is expected to continue posing “serious challenges,” especially since the island’s economy is facing challenges of its own, Office of the Financial Institutions Commissioner Rafael Blanco predicted during a recent interview.
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DACO to review deceptive practices and ads regulation
December 26, 2013
In the wake of this year’s somewhat chaotic Black Friday sales event, the Consumer Affairs Department will take it upon itself to review the Regulation Against Deceptive Practices and Advertisements to, among other changes, require tighter language from retailers when it comes to special offers and item descriptions.
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Aaron Stewart opens shop at Dorado Ritz Carlton
December 26, 2013
Designer Aaron Stewart and his partner Fernando Rodríguez recently opened the Aaron Stewart Home Pop Up Store, at the posh Dorado Ritz Carlton Reserve’s Encanto Beach Club.
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Payless ShoeSource donates new shoes for Christmas
December 26, 2013
Some 730 children participating in programs run by several Puerto Rico nonprofits recently received gift cards from Payless ShoeSource as part of its “Shoes 4Kids” program, which seeks to help and deliver cheer to needy kids islandwide.
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Puerto Rico Senate approves Teacher’s Pension Reform
December 24, 2013
The Puerto Rico Senate approved late Monday the Teacher's Pension System reform bill submitted by Gov. Alejandro García-Padilla last week. The Senate's approval follows Saturday night's passage by the House of Representatives. The bill now goes to the governor's desk to be signed into law.
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OCIF ends probe of UBS Bank USA’s Puerto Rico dealings
December 23, 2013
The Office of the Financial Institutions Commissioner announced it has entered into an agreement with Utah-based UBS Bank USA through which the latter will transfer a securities-backed loan portfolio worth $562 million to UBS Financial Services Inc. of Puerto Rico.
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