Visa Inc. announced it reached $93 billion in total payments volume for the period ended on September 30, 2012, compared to $89 billion reported last fiscal year during the same period in the Caribbean and Latin American region, resulting from the sustained growth of debit and credit products in the region, particularly in countries such as Argentina, Brazil, Chile, Colombia, Mexico and Peru.
The Buick Achievers Scholarship Program, funded by the General Motors Foundation, will accept applications for 2013 scholarships from Jan. 7 through Feb. 28, the automaker announced Thursday.
Puerto del Rey, the largest marina in the Caribbean located in Fajardo, filed for Chapter 11 bankruptcy protection late last week, listing $44.3 million in debt.
Puerto Rican women’s apparel retailer Gatsby is keeping its international expansion plans alive through the recent opening of its new 22,000 square-foot store in the Dominican Republic, the first of at least five that are slated to open in the next four years, company officials said Wednesday.
Puerto Rico’s bankruptcy filings were down 8 percent during the 12-month period that ended in December 2012, when a total of 10,362 petitions were filed at the U.S. Bankruptcy Court, according to preliminary statistics offered Wednesday by local research firm Boletín de Puerto Rico.
Puerto Rico’s Purchasing Managers Index (PMI) for the island’s manufacturing sector decreased to 46.2 in November 2012, falling below the threshold value of 50 that suggests a contraction in the manufacturing sector with respect to the previous month.
America CV Network announced Wednesday that veteran Hispanic television executive Rubén Torres-Muñoz has been named general manager for the Puerto Rico market.
Contrary to expectations of an economic improvement in 2013, some of Puerto Rico’s most prominent economists agree there is little to no growth on the horizon.
As the new year rolls in, Puerto Rico’s main professional trade groups — the Puerto Rico Chamber of Commerce, the Puerto Rico Manufacturers Association and the CPA Society — are weighing in on what they believe the island will need to improve its economic condition and quality of life for its citizens.
While travel to Puerto Rico appeared to be picking up toward year’s end, industry components believe much work lies ahead to strengthen the sector and its contributions to the island’s overall economy.
While much has been said about “economic uncertainty” and “consumer confidence,” the fact is that Puerto Rico’s economy has been in a state of disarray for so long it has become the new normal. So says Francis González, vice president of property management for DDR Corp., owners of 15 shopping centers islandwide.
The U.S. Environmental Protection Agency has awarded nearly $50,000 to two Puerto Rico organizations, Leaders of the World and the Scuba Dogs Society, to educate low-income communities about effective waste management, recycling and the negative effects of improper waste disposal on people’s health and water quality.
Puerto Rico’s tourism and transportation industries were quite active in 2012, when a number of hotels opened for business — including the lavish Dorado Beach Ritz Carlton Reserve — and several others broke ground.
There was never a dull moment for Puerto Rico’s telecommunications and technology sectors, which have been seemingly unscathed by the island’s economic woes. Companies continued to invest aggressively in their networks throughout 2012 to launch new next-generation products and services.
Puerto Rico’s banking sector began seeing black this year, as the institutions began to slowly turn their finances around. A consolidation took place between Oriental and BBVA, while Doral struggled to remain above water.
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