Analysis: U.S., FCC must focus on Puerto Rico’s broadband deficiency
July 5, 2012
The Minority Media and Telecommunications Council recently weighed in on Puerto Rico’s lagging broadband availability and use, saying the U.S. and the Federal Communications Commission have the responsibility of helping the island move forward in deployment and consumer adoption.
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GDB Economic Activity Index reveals 5th month of positive growth
July 5, 2012
The Government Development Bank’s Economic Activity Index for the month of April reached 128.2 during April 2012, an increase of 0.1 percent when compared to April 2011 and the fifth consecutive month of positive year-over-year growth since recession began in 2006, the agency said Wednesday.
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Huellas-Footprints Corp., PRMA ink collaboration agreement
July 5, 2012
To mark its second anniversary, Huellas-Footprints Corp., an organization dedicated to developing corporate social responsibility strategies and creating share value initiatives, recently struck an alliance with the Puerto Rico Manufacturers Association to provide its expertise to the trade group.
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EPA grants $60K to Martín Peña Channel’s ENLACE group
July 3, 2012
The U.S. Environmental Protection Agency is providing a $60,000 grant to ENLACE, an organization that serves communities along the Martin Peña Channel in San Juan to educate people about water quality in the canal and what can be done to reduce pollution.
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Santa Isabel wind farm on track for August completion
July 3, 2012
San Francisco-based Pattern Energy Group LP is on track to complete the installation of 44 windmills by August and begin generating clean energy by November at its operation spread throughout 3,700 acres of land in Santa Isabel.
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Plaza’s ‘Walkers Club’ members to get free Internet classes
July 3, 2012
Keeping its commitment to social and technology development across all sectors of Puerto Rico’s population, Claro de Puerto Rico announced Monday the expansion of its basic Internet course program to include the group of “baby boomers” who belong to the Plaza Las Américas “Walkers Club” who visit the mall daily to walk and exercise.
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PMI jumps to 59.0 in May suggesting manufacturing growth
July 2, 2012
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector rose to 59.0 in May, remaining above the threshold value of 50 for the ninth consecutive month, suggesting an expansion in the manufacturing.
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Facing foreclosure, Perichi’s Hotel files for Ch. 11
July 2, 2012
Empresas Playa Joyuda Inc., owners of the 50-room Perichi’s Hotel, Restaurant & Cocktail Lounge in Cabo Rojo, filed for Chapter 11 protection at the U.S. Bankruptcy Court last Friday, News is my Business learned.
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Analyst: Buying BBVA’s Puerto Rico operations will ‘immediately transform’ Oriental Bank
July 2, 2012
Last week’s announcement by Oriental Financial Group of its intention to buy BBVA Puerto Rico’s operation for $500 million will “immediately transform” the former’s day-to-day operations into a more bank-like institution, something management has been striving for in recent years, an industry analyst said over the weekend.
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Panama’s Martinelli: ‘Puerto Rico has everything and hasn’t taken advantage of it’
June 29, 2012
Puerto Rico needs to establish closer commercial ties with all countries throughout Latin America and the Caribbean by, among other things, playing up its importance as the gateway to the U.S. mainland, Ricardo Martinelli, president of the Republic of Panama said upon his arrival to the island Thursday.
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EDB closes Fiscal ’12 with $208M loan portfolio
June 29, 2012
The Economic Development Bank for Puerto Rico closed Fiscal ’12 with a record-setting $208 million portfolio of loans granted to the island’s small and mid-sized businesses, the highest figure on record since its establishment in 1985, agency officials said Thursday.
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JetBlue names San Juan its 6th ‘focus city’ upon inaugurating new terminal
June 29, 2012
During a ribbon-cutting ceremony held Thursday to officially inaugurate JetBlue Airways' new home at Terminal A in Carolina’s Luis Muñoz Marin International Airport, the airline's President, Dave Barger, and Gov. Luis Fortuño, announced that San Juan has become the sixth focus city in JetBlue's 71-city network.
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Green Energy Fund making $11M in incentives available as of July 1
June 28, 2012
The new fiscal year that starts July 1 will make $11 million in incentives available to businesses looking to invest in renewable energy projects, Economic Development and Commerce Secretary José Pérez-Riera said Thursday.
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Oriental Financial Group to acquire BBVA Puerto Rico for $500M
June 28, 2012
Oriental Financial Group Inc. has entered into an definitive agreement to buy Banco Bilbao Vizcaya Argentaria, S.A.’s Puerto Rico operations for $500 million in cash, the companies announced this morning.
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Seaborne Airlines investing $7M in 3 new planes
June 28, 2012
Nearly 18 months after launching flights between the Luis Muñoz Marín International Airport in Carolina and the islands of St. Croix, St. Thomas and Vieques, regional carrier Seaborne Airlines announced Wednesday plans to expand its fleet of aircraft, investing more than $7 million in three new planes.
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