LMM private operator to be announced by summer
May 3, 2012
The two consortia in the final running for the 40-year management concession of the Luis Muñoz Marín International Airport have already been selected, with the final winner to be announced by summer.
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FirstMortage reports 8% loan production growth in ’11
May 3, 2012
FirstMortgage, FirstBank’s mortgage division, is following the strategic plan it laid out for itself last year to improve its market standing by focusing on three areas: customer service, streamlining procedures and improving efficiency in the loan origination and closing process.
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América Móvil: Full LTE launch in P.R. not until 3Q
May 2, 2012
During a recent call with investors, América Móvil CEO Daniel Hajj confirmed that the commercial launch of its 4G Long-Term Evolution platform in Puerto Rico will not take place until the third quarter of this year, following a limited roll-out of the next-generation technology late last year.
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SEC charges UBS P.R., 2 execs with fraud
May 1, 2012
The Securities and Exchange Commission on Tuesday charged UBS Financial Services Inc. of Puerto Rico and two executives with making misleading statements to investors, concealing a liquidity crisis, and masking its control of the secondary market for 23 proprietary closed-end mutual funds.
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Bumble Bee closing Mayagüez plant after 50 years, leaving 260 jobless
May 1, 2012
The Bumble Bee tuna cannery in Mayagüez will be closing its operation after 50 years of doing business in Puerto Rico, leaving about 260 people jobless, News is my Business learned.
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Popular announces 1-for-10 reverse stock split
May 1, 2012
Popular Inc. announced Monday that its stockholders approved a proposed 1-for-10 reverse split of its common stock, which is expected to become effective May 29.
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Scotiabank approves $20.4M for EDIC College acquisition
May 1, 2012
Scotiabank de Puerto Rico recently approved $20.4 million in financing to Renovous Capital, LP to complete its acquisition of EDIC College Inc., the bank announced Monday.
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Op Ed: Customer service — Smaller is better
May 1, 2012
When it comes to providing value to customers, size isn’t everything — personalized service is.
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Econo lands P.R. Products Association ‘business excellence’ award
May 1, 2012
Supermercados Econo recently received the award for Excellence in Management Quality, for its track record of quality and commitment to the industry, bestowed by the Puerto Rico Products Association.
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Pall Corp. sells part of Fajardo operation in $551M deal
April 30, 2012
Mass.-based Haemonetics Corp. announced over the weekend it has entered into a definitive agreement to acquire Pall Corp.’s blood collection, filtration and processing product lines, including its manufacturing facilities in California, Mexico, Italy and a portion of Pall's assets in Fajardo.
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TRB ‘vigilant’ over manhole cover theft streak
April 30, 2012
Telecommunications Regulatory Board President Sandra Torres said the agency will continue cracking down on copper theft, including going after those who have recently taken up the habit of stealing manhole covers belonging to the Puerto Rico Aqueduct and Sewer Authority.
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Polytecnic Univ. revises curriculum in line with Pell Grant changes
April 30, 2012
Responding to upcoming changes to the Pell Grant, the Polytechnic University of Puerto Rico announced it has revised its undergraduate engineering and geomatic sciences programs at it’s San Juan and Orlando, Fla. campuses.
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Farmers ask GAO to lift Jones Act provisos citing increased production costs
April 27, 2012
Members of the Puerto Rico Farm Bureau, which represents a cross-section of the island’s agriculture sector, met with members of the U.S. Government Accountability Office in Hato Rey Thursday to lay out the reasons why the island should be exempt from Jones Act provisos.
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CPAs present proposals to gubernatorial candidates
April 27, 2012
The Puerto Rico Society of Certified Public Accountants presented Thursday a sweeping list of recommendations for the candidates running for governor in November, to solve problems in five specific areas: electricity costs; the ailing retirement system; the municipal tax system; economic development; and the health system.
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SJ cruise port makes it into ‘million-passenger-club’ list
April 27, 2012
The San Juan cruise ship port has made it into an elite group of 16 such facilities around the world that welcomed more than a million passengers last year, rubbing shoulders with major U.S. mainland and European cities.
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