‘The Banker’ names Banco Popular ‘Bank of the Year’
December 28, 2011
Despite the ups and downs it had in 2010, Banco Popular has been selected Puerto Rico’s “Bank of the Year” by “The Banker” magazine, a highly respected publication in circulation since 1926 and run by the Financial Times.
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London’s PFI names highway PPP ‘Deal of the Year’
December 27, 2011
For the second time in as many months, the government’s 40-year Public-Private Partnership concession of the PR-22/PR5 highways has nabbed an award from a prestigious international group, this time from London’s Project Finance International, a global project finance intelligence source and a unit of Thomson Reuters Professional Publishing.
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EDB bets on self-employment in ’12
December 27, 2011
The Economic Development Bank will be setting its sights on promoting self-employment initiatives in 2012, targeting specific sectors with orientation sessions and, perhaps most importantly, funding, agency President Ivonne Otero said.
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New Year to ring in phone bill hike
December 23, 2011
Puerto Rico Telephone, which does business as Claro, announced Friday that if the increase in Universal Service Fund charges that the Federal Communications Commission is pushing for is approved, landline and wireless customers will see an increase in their bill starting the first quarter of 2012.
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P.R. tsunami shelter inventor turns to online investors for financing
December 23, 2011
Miguel Serrano, the local inventor and developer of the STATIM tsunami and flood shelter project, announced Thursday the launching of a global “crowdfunding” campaign to raise the $100,000 in financing he needs to expedite plans to build and commercialize his novel disaster preparedness technology.
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$36K Internet center opens in Gurabo
December 23, 2011
The Telecommunications Regulatory Board recently inaugurated a state-of-the-art $36,000 Internet center in Gurabo, the fifth town to have such a facility designed to continue bridging the digital divide in rural areas.
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P.R. leads region in generating web traffic through smartphones, tablets
December 22, 2011
Non-computer devices — including mobile phones, tablets, and other connected gadgets — accounted for 5.9 percent of all web browsing activity traffic generated in Puerto Rico in October 2011, according to the latest report released Thursday by reputable digital world analyst firm comScore.
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Less than 15% of IVU Loto winners have claimed their prizes
December 22, 2011
A year after the IVU Loto twice-weekly sweepstakes launched, less than 15 percent of winners have claimed their prizes. Treasury Department data shows that so far, only 87 out of 580 winners have taken home their pay. Combined, winners have claimed $146,500, or a fraction of the $761,000 the agency has offered in cash prizes, News is my Business confirmed Wednesday.
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Menchies to open San Patricio, Dorado locations in ’12
December 22, 2011
The first two Menchie’s frozen yogurt shops planned for Puerto Rico will open in San Patricio Plaza and Doramar Plaza next year, News is my Business confirmed Wednesday.
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Condor Airlines returns to LMM with 2 direct flights from Germany
December 22, 2011
The massive B767-300 jet carrying about 270 passengers from Frankfurt, Germany landed at the Luis Muñoz Marín Airport mid-afternoon Wednesday, marking the return of Condor Airlines following a significant absence from the local market.
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First BanCorp announces voluntary delisting of preferred stock from NYSE
December 21, 2011
First BanCorp, the bank holding company for FirstBank Puerto Rico, announced late Wednesday that it will delist its preferred stock from the New York Stock Exchange, effective before the market opens Jan. 17.
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QBE Insurance Group acquires Optima Insurance Group
December 21, 2011
QBE Insurance Group announced Wednesday it has agreed to acquire Optima Insurance Group, an underwriting group in Puerto Rico that posted an estimated $100 million in gross written premium in 2011. The financial terms of the deal were not revealed.
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AT&T expands 4G LTE to 6 western towns
December 21, 2011
AT&T announced Wednesday its ongoing expansion of its 4G LTE network on the island, rolling it out to parts of Aguada, Aguadilla, Añasco, Mayaguez, Rincon, Moca and Hormigueros. The added areas comes a month after AT&T introduced 4G LTE in parts of the San Juan metropolitan area on Nov. 20.
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PRMA: 3 measures ‘seriously hurt’ P.R. competitiveness in ’11
December 21, 2011
As 2011 wraps up, the Puerto Rico Manufacturers Association — one of the island’s most important trade organizations — took stock Tuesday of the last 12 months, concluding that a trio of major administration-backed measures significantly set back competitiveness by hindering free trade and industrial growth.
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Botched AT&T/T-Mobile deal leaves same issues on table
December 20, 2011
AT&T’s decision to walk away from its intention of buying rival T-Mobile puts an end to concerns expressed locally that consummating the $39 billion transaction would create a monopoly on the island.
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