The American Automobile Association (AAA) recently assigned its AAA Four Diamond Rating for 2011to the Caribe Hilton hotel in San Juan, a distinction it earned for its “exceptional accommodations, upscale facilities, attentive services and high hospitality standards.”
The Office Depot Foundation, Office Depot’s independent charitable division, will donate 1,500 new backpacks for Puerto Rico students through its National Backpack Program.
The Environmental Protection Agency announced Tuesday a settlement agreement with Chevron Puerto Rico, LLC through which the company will spend some $5.2 million to improve leak detection methods and operations at some 100 Texaco service stations. The company will also pay a $600,000 penalty.
The island’s lack of a policy to protect against power failures and outages, energy fluctuations, and electricity quality problems that damage equipment is detrimental to business investments and triggers significant losses, Enrique Chávez, sales director for Mexico, Central America and the Caribbean of Eaton Corporation’s power quality division.
Pharmaceutical companies doing business in Puerto Rico will not show any significant growth this year, pressured by upcoming patent expirations and underperforming economic conditions, Irish research firm Research and Markets said in its most recent industry report.
The San Juan Marriott Resort & Stellaris Casino in Condado is pumping $2.2 million into the transformation of its lobby and bar area, ushering in a new modern feel, hotel officials announced.
Following a successful event last year, the Caribbean Hotel and Tourism Association and the Caribbean Tourism Organization announced Friday that the annual Caribbean Hotel and Tourism Investment Conference will return to Puerto Rico in 2012 and 2013. The event represents an economic boon for Puerto Rico and draws attention to the island as an ideal convention destination.
Island small businesses in 12 towns affected by an episode of severe storms that caused flooding, mudslides, and landslides earlier this year can apply for recovery loans of up to $2 million, with U.S. Small Business Administration backing, the agency announced Friday.
Oriental Financial Group Inc. released results for the second quarter ended June 30 that reflected income of $25.3 million, a significant increase from the $4.2 million loss reported for the same quarter in 2010 and a profit of $1.9 million for the first quarter that ended in March.
Hundreds of farmers on the island will receive close to $1 million in assistance from the U.S. Department of Agriculture’s Reimbursement Transportation Cost Payment Program, Resident Commissioner Pedro Pierluisi announced Thursday. The reimbursement is the largest amount granted by the federal agency in fiscal 2010.
For the second time in the past five years, AMR Corp., parent company of American Airlines Inc., has announced plans to divest its wholly owned regional carrier American Eagle. The strategy calls for spinning off the operation as an independent business.
Puerto Rico television viewers spend their time in front of the set watching virtually the same number of hours of local and cable television programming, with local newscasts taking the top spot in terms of preference, Nielsen Puerto Rico reported Wednesday.
Popular Inc. reported net income of $110.7 million for the quarter ended June 30, 2011, buoyed by a tax benefit of $59.6 million granted through an agreement with the Treasury Department related to the timing of charge-offs for accounting and financial reporting purposes.
For the past 100 years, worldwide chocolate consumption has reflected a 3 percent annual increase as demand for tasty cocoa-based products has gained ground. Today, the current global market value of annual cocoa crops is estimated at $5.1 billion, according to World Cocoa Foundation statistics.
Aurelio Alemán, CEO of FirstBank, has been elected president of the Puerto Rico Bankers Association, effective July 1. The executive’s term extends through Sept. 30, 2012.
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