P.R. Convention Bureau snags ‘Smart Meetings 2011’ Platinum Choice award
October 25, 2011
Readers of Smart Meetings magazine, a monthly publication for meetings and convention planners, have chosen the Puerto Rico Convention Bureau as a winner of the 8th Annual 2011 Platinum Choice Award.
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CofC to host telecom conference
October 25, 2011
The Puerto Rico Chamber of Commerce will sponsor next month the “Puerto Rico Telecom Conference 2011: The New Future,” through which it seeks to give participants a chance to exchange ideas on telecommunications technologies, achieving greater Internet access, and how going online can help companies to grow, reach new markets, and innovate.
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Puma Energy wrapping up $32M investment in former Capeco fuel depot
October 24, 2011
Two years after a historic explosion rocked the former Caribbean Petroleum Corp. fuel depot in Bayamón, its new owner Puma Energy Caribe is on the verge of completing a $32 million investment to transform the site into a state-of-the-art facility, company officials said Monday.
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For mega-mall operators ‘makeovers’ is the name of the game
October 24, 2011
Shopping center operators, such as DDR Corp., that manage a sizeable portfolio of malls are looking more toward remodeling existing properties rather than building new ones from scratch — a trend that will likely stick for the next two or three years, John Kokinchak, senior executive vice president of the company told News is my Business in a recent interview.
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$11M cancer therapy center opens in Humacao
October 24, 2011
The Instituto de Radioterapia del Este, a radiotherapy cancer treatment center featuring the most advanced and innovative technology recently opened in Humacao, following an $11 million investment. Owners promise quicker treatments with the best success rates in Puerto Rico, Latin America and the Caribbean.
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Dairy farmers may be forced to dump 7M quarts of milk
October 21, 2011
Farmers grouped under the Puerto Rico Farm Bureau’s dairy sector could be forced to dump some 7 million quarts of raw milk at the farm level due to the inaction of the government agencies regulating the industry, which has left them with a surplus in production, trade group leaders said Friday.
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Senate probing alleged phone service subsidies scam
October 21, 2011
Upon learning earlier this week that more than 200,000 local consumers are allegedly committing fraud with subsidies offered on residential and wireless telephone services, Sen. Lornna Soto will visit the Telecommunications Regulatory Board today to collect documents and other information that may be referred to local and federal law enforcement authorities.
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Fortuño signs law to move ‘Science District’ forward
October 21, 2011
Governor Luis Fortuño turned into law Thursday a bill to stimulate science and technology through the creation of the Puerto Rico Science, Technology and Research District and boost the financial support given to the Science, Technology and Research Trust.
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Alemán: Banking sector pulling out of crisis, but still faces hurdles
October 21, 2011
First BanCorp President Aurelio Alemán echoed Thursday what many other banking executives have been saying in recent months: the sector is slowly starting to pick up the pieces after the storm, but much work remains ahead for it to thrive again.
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S.J. official updates PRHTA on development projects
October 21, 2011
Puerto Rico Hotel and Tourism Association members got a closer glimpse of the development projects underway in San Juan, where the municipal government is overseeing several initiatives: the Walkable City and the SATOUR light-rail transportation system.
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SBA loans in P.R., USVI up 57% in fiscal ’11
October 20, 2011
The U.S. Small Business Administration guaranteed 656 loans in Puerto Rico and the U.S. Virgin Islands during fiscal year 2011, a 57 percent increase over loans approved during the previous year. The results obtained are due in part to incentives implemented under the Small Business Jobs Act of 2010 and to a renewed commitment from SBA lenders.
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Open Mobile deploying $250M 4G LTE network before year’s end
October 20, 2011
Open Mobile, the island’s only pay-for-play wireless service provider, is on the final stages of completing its 4G Long Term Evolution (LTE) network, which should be up and running before the end of this year, News is my Business learned Wednesday.
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Horizon Lines stock to trade on OTC Market starting today
October 20, 2011
Domestic ocean shipping company Horizon Lines Inc. announced Wednesday its common stock will begin trading on the OTCQB Marketplace, effective today.
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Popular Inc. reports positive 3Q results; plans retirement window, branch closings
October 19, 2011
Popular Inc. sailed through its third consecutive quarter on the positive side, reporting $27.5 million in net income for the three-month period ended Sept. 30. The results were fueled by the sale of its non-performing loan portfolio and investment securities available-for-sale.
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SBA approves more than $2M in Hurricane Irene-related disaster loans
October 19, 2011
With just a week to go before the Oct. 26 deadline to submit disaster loan applications, the U.S. Small Business Administration announced Wednesday that so far it has approved $2 million in assistance for damages sustained by local businesses and residents in the wake of Hurricane Irene earlier this year.
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