Puerto Rico car sales stall in November
December 17, 2012
The number of vehicles that rolled off the lots in Puerto Rico reached 8,773 units in November, which represented a flat 0.2 percent year-over-year improvement and kept the breaks on nearly 10 months of consecutive growth, the United Automobile Importers Group known as GUIA revealed.
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Praxair hiking gases, facilities fees Jan. 1
December 17, 2012
Praxair Inc. and its divisions and subsidiaries — Praxair Distribution, Inc., Praxair Healthcare Services, Praxair Canada Inc., and Praxair Puerto Rico B.V. — will be increasing the prices charged to its bulk and packaged, industrial, electronics, specialty and medical gas customers in the U.S mainland, Canada and Puerto Rico of effective Jan. 1.
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Moody’s cuts Puerto Rico’s credit affecting $38B in debt
December 14, 2012
Moody's Investors Service downgraded Puerto Rico’s general obligation rating Thursday to Baa3 from Baa1, affecting about $38 billion of the island’s debt held by more than a handful of agencies.
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San Juan Beach Hotel unveils $2.3M makeover
December 14, 2012
The San Juan Beach Hotel in Condado unveiled its $2.3 million makeover Thursday, that included renovating its rooms, and redesigning the lobby and common areas to offers a new look and affordable prices to local and international customers.
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The Banker picks Scotiabank as ‘Global Bank of the Year’
December 14, 2012
Scotiabank has taken “Global Bank of the Year” honors from The Banker magazine, along with recognition in seven other categories including “Bank of the Year for the American Continent.” It is the first time a Canadian bank receives recognition in these categories.
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McDonald’s adding 3 new locations in Puerto Rico
December 14, 2012
Arcos Dorados, operator of the McDonald’s restaurants in Latin America and the Caribbean announced Thursday the upcoming opening of three new establishments in Puerto Rico later this month.
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Puerto Rico’s food sector optimistic despite threat of ‘double-dip’ recession
December 13, 2012
Puerto Rico’s food industry eliminated 3,000 jobs during the 12-month period ended August 2012 and is bracing for the effects of a double-dip recession that could thwart sales, at least during the first half of 2013.
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Connect Puerto Rico: Broadband access has expanded
December 13, 2012
New research unveiled Wednesday by Connect Puerto Rico shows that nearly 85 percent of Puerto Rico households have access to fixed broadband at advertised speeds of at least 3 Mbps download/768 Kbps upload, up from 57 percent one year ago. This represents significant network expansion across the island.
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$342M Dorado Beach, A Ritz-Carlton Reserve opens for business
December 13, 2012
The first Ritz-Carlton Reserve property in the Americas officially opened for guests Wednesday in Dorado, bringing back to life the former Dorado Beach hotel five years after it was shuttered.
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Font to head EPA’s Puerto Rico, USVI office
December 13, 2012
The U.S. Environmental Protection Agency announced Wednesday that José Font has been selected to lead its Caribbean Environmental Protection Division, covering Puerto Rico and the U.S. Virgin Islands.
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Santander OKs $9.3M in financing for San Germán waterpark
December 13, 2012
Banco Santander Puerto Rico recently awarded $9.3 million in financing for the development of the San Germán Surf and Fun Waterpark planned for that municipality.
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Gov.-elect names more economic team members
December 12, 2012
Gov.-elect Alejandro García-Padilla revealed Tuesday the identities of several more members of its economic team, who will take office in January — several of which are already familiar faces in government.
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Telecom Board scrubs out 166K phone subsidy fraudsters
December 12, 2012
Two years after scrubbing out about 166,000 Puerto Rico residents who were misusing phone subsidy benefits through the “Lifeline” program, the Telecommunications Regulatory Board has asked the Federal Communications Commission to allow it to opt-out of the stateside database to continue doing the job on its own.
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Evertec, FICO partner to combat ATM fraud
December 12, 2012
Credit and debit card processing company Evertec is adopting technology to protect and defend consumers against counterfeit card and skimming fraud in Puerto Rico.
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Bankers Association, Visa offer holiday budget tips
December 11, 2012
With just two weeks to go before Christmas, many consumers are looking for safer and more efficient ways to shop. At this time of the year, it is particularly important to practice financial responsibility and to take precautions to ensure secure transactions
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