Fortuño: U.S. ‘acted too late’ to avoid downgrade
August 8, 2011
Contrasting Puerto Rico’s current economic conditions with those of the U.S. mainland’s, Gov. Luis Fortuño said the “U.S. is starting to suffer the consequences of not acting immediately” to its escalating fiscal troubles.
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S&P downgrades U.S. credit rating after budget negotiations fall short
August 6, 2011
The United States’ 94-year excellent credit run ended Friday, when ratings agency Standard & Poor’s lowered the country’s AAA credit to AA+ for the first time, dissatisfied with the results of the spending cuts package agreement between Congress and the White House reached earlier in the week.
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Claro launches online petition to drum up public support for IPTV service
August 6, 2011
Claro has stepped up its efforts to obtain the franchise license it requested more than three years ago to break into the island’s paid television market by launching an online signature collection campaign Friday in support of its IPTV service.
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Claro TV lays out proposed IPTV offer
August 5, 2011
Hundreds of channels, “a la carte”-like programming and cutting edge features based on a $60 million platform are some of the features that Claro TV is ready to offer island customers through the Internet-based cable television service it is proposing to launch.
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TRB schedules hearing to weigh public interest of granting Claro TV franchise
August 5, 2011
A hearing slated to let the public and paid television industry players offer their opinions on whether Claro TV’s request for a cable television franchise is in the public interest may not take place Monday at the Telecommunications Regulatory Board if petitions the company filed to block it are granted.
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Bleu Bistro enters OSJ gastronomy scene
August 5, 2011
Bleu Bistro, the newest eatery to move into the trendy Old San Juan gastronomic neighborhood, recently opened its doors to offer locals and tourists alike a taste of French fusion cuisine.
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Cuba Travel Services to launch LMM-Havana charter flights
August 5, 2011
Air travel between the United States and Cuba is about to get a bit more crowded with the announcement Thursday by Cuba Travel Services Inc. that it has received landing permission by the government of the island-nation to begin flights from San Juan, Ft. Lauderdale and Houston.
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FAA shuts down Isla Grande airport air-traffic control tower
August 4, 2011
Citing damages caused following the passing of Tropical Storm Emily, Port Authority Executive Director Alberto Escudero announced Thursday the Federal Aviation Administration’s decision to close the air-traffic control tower at the Fernando Ribas Dominicci airport in Isla Grande.
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USVI study confirms power connection with P.R. possible, cost-effective
August 4, 2011
A feasibility study commissioned by the U.S. Virgin Islands’ Water and Power Authority confirmed that connecting the territory with Puerto Rico’s and the British Virgin Islands is viable and could help the neighboring islands save money and provide better services.
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MAPFRE maintains credit rating strength
August 4, 2011
A.M. Best, the world's oldest and most authoritative insurance rating and information source, recently affirmed the financial strength rating of “A” (Excellent) of the MAPFRE PRAICO Group and its affiliates, confirming their financial strength, company officials announced Wednesday.
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Florida court places National Insurance Co. Coral Gables subsidiary in receivership
August 4, 2011
The Second Judicial Circuit Court in Leon County, Florida ordered National Group Insurance Company, a subsidiary of Hato Rey’s embattled National Insurance Company, into receivership earlier this week, News is my Business learned.
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Oriental’s commercial loan production jumps 126% year-over-year in 2Q
August 3, 2011
Oriental Bank and Trust’s new and expanded commercial banking structure is starting to show the results of the growth that came with last year’s acquisition of the defunct Eurobank, with commercial loan production reaching $46 million during the second quarter, an increase of about 126 percent year-over-year, bank officials said Tuesday.
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Puerto Rico Coffee Expo returns in October
August 3, 2011
Looking to celebrate the Puerto Rican coffee industry's 275th anniversary, dozens of local brands, as well as representatives and suppliers of this important and emerging local industry, will gather for the second edition of the Puerto Rico Coffee Expo, Oct. 8-9 at the Puerto Rico Convention Center.
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Convention Bureau representing P.R. in ASAE convention
August 3, 2011
The Puerto Rico Convention Bureau will represent the Puerto Rico Convention Center during the upcoming American Society of Association Executives Annual Meeting & Expo taking place in St. Louis Aug. 6-9. The event is one of the convention industry’s largest gatherings of meeting planners of the year.
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CNE: Debt ceiling deal harmful to fiscal health
August 3, 2011
The approved plan to increase the United State’s debt ceiling will not solve the country’s fiscal problem, and could actually worsen it by reducing economic activity on the short- and mid-term, Sergio Marxuach, policy director for the Center for the New Economy said Tuesday.
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