Puerto Rico collections up $335M YOY through Nov.
December 12, 2013
Puerto Rico Treasury Secretary Melba Acosta announced Thursday that revenues for the first five months of fiscal year 2014 exceeded collections for the same period of fiscal year 2013 by $335 million, or 12.4 percent.
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Moody’s puts Puerto Rico G.O., other bonds on review
December 12, 2013
Almost exactly a year to the day when Moody’s Investors Service cut Puerto Rico’s credit to Baa3, the New York-based agency placed the island’s general obligation rating on review for downgrade.
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Taco Maker grows to U.S., LatAm; launches new concept
December 12, 2013
The owners of the Taco Maker chain in Puerto Rico are setting their sights on other markets on the U.S. mainland and in Central and Latin America to fuel growth in 2014, when the company also plans to expand on a newly introduced modular restaurant concept they believe is the cornerstone to successfully bucking local economic conditions.
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Gov’t assigns $1M for community microenterprise dev.
December 12, 2013
Puerto Rico Trade and Export rolled out an initiative Wednesday to spur community economic development that is split into two programs: a Microenterprise Development Incubator and an Economic Incentive to Community Microenterprises, said agency Executive Director Francisco Chévere.
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Labor law firm Littler expands to Puerto Rico
December 11, 2013
Littler, the world’s largest employment and labor law practice representing management, will combine with Puerto Rican law firm Schuster Aguiló, effective Jan. 1, 2014.
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PRHTA heralds holiday season at ‘Saborea Winter Party’
December 11, 2013
The Puerto Rico Hotel and Tourism Association officially kicked off the holiday season this past weekend with the culinary celebration of Saborea Puerto Rico Winter party at the Courtyard by Marriott Hotel in Isla Verde.
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Delta expands seasonal service to San Juan
December 11, 2013
Delta Air Lines is expanding its Puerto Rico service this month with new seasonal frequencies between the Luis Muñoz Marín International Airport and Atlanta, Detroit and Minneapolis-St. Paul, the carrier announced Tuesday.
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Puerto Rico bankruptcies soar 20% in November
December 10, 2013
Bankruptcy filings skyrocketed in November, when a total of 823 cases were filed, representing a whopping 20 percent increase when compared to the same month last year, according to preliminary figures released by research firm Boletín de Puerto Rico.
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Puerto Rico must ‘unleash tourism potential’ to compete
December 10, 2013
Given world tourism trends, Puerto Rico needs to focus on new markets, such as Germany, Japan, China, and the United Kingdom, to find success in a highly competitive sector and lure tourists to its shores, to be able to reduce its reliance on other industries.
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SBA, INTENE partner to serve northeast region small biz
December 10, 2013
The U.S. Small Business Administration and the Technology Initiative of the Northeast have entered a strategic alliance, through which the federal agency will expand its reach to more potential entrepreneurs, and further promote Puerto Rico’s economic development, SBA District Director Yvette T. Collazo announced Monday.
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Bankers Assoc. helps educate on keeping holiday budget
December 10, 2013
The Puerto Rico Bankers Association recently launched the third edition of its holiday season educational campaign “This Christmas Season: Enjoy. Share. Save” campaign, through which it seeks to provide consumer advice on how to maximize financial resources during the holiday shopping season, while helping them avoid an excessive level of debt.
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Challenger Brass & Copper invests $1M to expand
December 10, 2013
Challenger Brass and Copper Inc., a Toa Baja company dedicated to the commercialization and distribution of copper, brass, bronze, stainless steels and aluminum, announced Monday plans to invest $1 million on equipment and machinery to establish a copper parts manufacturing line.
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Toyota Foundation grants $75K to environmental groups
December 10, 2013
As part of its commitment to contribute to the island’s environmental causes, Toyota Foundation celebrated the 16th edition of its environmental program grants, awarding $75,000 to Puerto Rican organizations that stand out for their efforts to benefit the environment.
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Nissan launches smartphone app to support drivers
December 10, 2013
Automaker Nissan announced Monday the launch of its “Roadside Assistance” smartphone application, which gives support to Nissan owners in Puerto Rico during unexpected situations.
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Puerto Rico economic index stuck in negative growth
December 9, 2013
Following what can only be called an attempt to avoid the unavoidable, the Government Development Bank finally posted the Economic Activity Index — with weeks of delay — for the months of September and October, revealing results that keep Puerto Rico in negative territory for the 11th consecutive month.
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