Study: Natural disasters provoke ‘unprecedented’ socioeconomic changes
February 14, 2022
“The economy of disasters? Puerto Rico before and after Hurricane María,” present several suggestions for local and federal governments to reduce the negative socioeconomic impact left by natural disasters.
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Electronic sports betting officially takes off in Puerto Rico
February 10, 2022
Puerto Rico Gaming Commission grants the first betting operator license in time for this year’s Super Bowl.
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ALSA ends San Juan to Caguas bus service it launched in July ’19
February 9, 2022
When the company launched in July 2019, it had less than eight months of full operations before the COVID-19 pandemic was declared.
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Puerto Rico retail sales up 18.3% Y-O-Y to slightly more than $3B
February 7, 2022
That is the 18th consecutive monthly rise in retail sales, the Department of Economic Development and Commerce said.
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Starbucks Puerto Rico will not be raising prices like US counterpart
February 4, 2022
News is my Business confirmed that the hike will not apply to the local market.
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USDA grants $1.9M to Inter, UPR to boost agricultural, science programs
February 4, 2022
The universities will create special programs to boost agricultural studies.
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FL-based Guidewell closes purchase of Triple-S insurance provider
February 2, 2022
Nearly six months after announcing its plans, GuideWell Mutual Holding Corp., parent of Blue Cross and Blue Shield of Florida Inc., has closed on its acquisition of Triple-S Management Corp. GuideWell acquired all outstanding shares of Triple-S Management common stock for $36 per share in cash. With the completion of the transaction, Triple-S is now […]
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$60.5M renovation project at Port of San Juan to improve future energy costs
January 31, 2022
The US Army Corps of Engineers and the Puerto Rico Ports Authority will begin laying the groundwork later this year for improved maritime infrastructure at the San Juan Harbor that will eventually help lower energy costs and better the area’s environmental quality. In an interview with News is my Business, Ports Authority Executive Director Joel […]
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Popular Inc. reports $206M in 4Q21 net income, up 17% Y-O-Y
January 28, 2022
Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $206.1 million for the fourth quarter ended Dec. 31, 2021, compared to net income of $176.3 million in the same period in 2020. The financial institution also reported net income of $934.9 million for the year 2021, compared to net income […]
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First BanCorp. reports $281M in net income in ’21, vs. $102M in ’20
January 27, 2022
First BanCorp., parent company of First Bank, reported net income of $281 million for the year ended Dec. 31, 2021, compared to $102.3 million for the year ended Dec. 31, 2020. In an interview with News is my Business, First BanCorp. CEO Aurelio Alemán attributed the growth to the completion of the acquisition of Banco […]
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Oriental CEO: ‘The stars are aligning for Puerto Rico’s economic growth’
January 20, 2022
The confirmation of Puerto Rico’s debt restructuring plan is one of several positive circumstances that is positioning the island for an economic rebound in coming years, but which will require unity between the public and private sectors. José Rafael Fernández, CEO of OFG Bancorp, said Puerto Rico’s economy is already in a “very different situation” […]
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MasTec North America sues Claro for $10M in breach of contract suit
January 10, 2022
MasTec North America Inc., a FL-based infrastructure construction company, is suing Claro Puerto Rico for $10 million in outstanding pay for the work it did to restore the telecommunications provider’s “devastated” infrastructure following Hurricane María in 2017. In a lawsuit filed last week in the US District Court of Puerto Rico in San Juan, the […]
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Passenger traffic at LMM nears 9.7M in ’21, up 2.5% vs. ’19 pre-COVID levels
January 7, 2022
Passenger traffic at Puerto Rico’s Luis Muñoz Marín International Airport (LMM) approached nearly 9.7 million in 2021, up some 2.5% when compared to the 12-month period ended December 2019, before the COVID-19 pandemic crippled air traffic. When compared to 2020, passengers who used the facility doubled from the 4.8 million reported by its operator, Grupo […]
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LeadPivot Technologies launches finance, investment education app
January 7, 2022
Puerto Rican firm LeadPivot Technologies recently unveiled a new mobile app called “Publicaciones de Birling Capital,” which contains all the finance and investment-related content produced by Birling Capital. LeadPivot Technologies is Birling Capital’s software development division, and its focus is to drive business growth and transform it through digital tools to achieve better services, customer […]
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PRIDCO expects to reap benefits of ‘strategic transformation’ in ’22
January 5, 2022
After wrapping up what he called a “complex year” during which many projects were kicked-off and made possible using Puerto Rico Industrial Development Company (PRIDCO) properties, agency Executive Director Javier Bayón said 2022 brings a loaded agenda in favor of Puerto Rico’s economic development. PRIDCO officials spent the better part of 2021 reshaping the agency’s […]
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