The luxury Dorado Beach, a Ritz Carlton Reserve property in Dorado is slated to open in December, when it will become the first property to fly that flag in the Americas, developers and government officials said Tuesday.
Ten months after South Florida-based BBU Bank acquired and merged Banesco International Bank Corp. into its mainland U.S. domestic banking operations, it will be changing its name to Banesco USA, the banking institution’s CEO Rafael "Rafo" Saldaña said.
The Marketing, Industry and Food Distribution Chamber expressed its opposition Tuesday to a proposal by Consumer Affairs Secretary Luis Rivera Marín to approve a regulation related to the Closing Law to allow pharmacies to sell more food items on the days that supermarkets must remain closed.
The U.S. mainland’s $300 million pet insurance industry is adding a new market to its footprint, with the expansion of Seattle, WA-based Trupanion’s expansion into Puerto Rico, effective immediately.
Illinois-based Life Fitness, a leading commercial fitness equipment manufacturer and distributor, is opening its first Life Fitness store in Caparra area, from where it will showcases a full-line of Life Fitness cardio and strength equipment for both commercial and home use.
Borders Group, parent of the U.S. mainland’s once-dominant book retailer, is marking the final chapter of its 40-year history by seeking the U.S. Bankruptcy Court’s approval Friday to sell itself off to a liquidator, a decision that is expected to immediately trigger a going-out-of-business sale that will wrap up sometime in September.
FirstBank Puerto Rico’s parent company, First BanCorp, announced Monday it has amended the agreements struck with private equity firms Thomas H. Lee Partners, L.P., Oaktree Capital Management, L.P., and other investors to increase the amount of the proposed capital raise from $515 million to $525 million.
Two major Spanish banks with long-standing presence in Puerto Rico passed the European Banking Authority’s 2011 stress test of institutions in 21 countries, to assess their resilience against the current economic scenario.
A day ahead of the first scheduled walk-through of the property, the Ritz-Carlton Hotel Company, L.L.C. announced Monday the official launch of the Dorado Beach, a Ritz-Carlton Reserve, the first of its kind in the Americas and the second under the luxury brand in Puerto Rico.
Puerto Rico’s cement sales, a key economic indicator, decreased by 6 percent last month in comparison to the same month in 2010, the latest Government Development Bank figures reveal.
Document scanning, imaging and conversion company The DRS Group recently expanded its footprint into Puerto Rico, with the acquisition of Pro Image Corporation, for an undisclosed amount.
Orlando, Fla.-based Signature Flight Support announced Friday its acquisition of Tropical Aviation Corp. operating out of Isla Grande’s Fernando L. Rivas Dominicci Airport. The amount of the transaction was undisclosed.
The decision Thursday by the U.S. Bankruptcy Court judge overseeing the Borders Chapter 11 proceeding could send the bookstore chain, which still has one location left in Puerto Rico, into a liquidation of its assets.
The Treasury Department’s preliminary year-end General Fund report released Wednesday showing an uptick in revenue collections may not necessarily be a sign of real economic improvement, the Center for the New Economy said Thursday upon analyzing the results.
President Barack Obama signed Thursday an order declaring 12 towns as disaster areas, following severe storms, flooding, mudslides, and landslides during the period of May 20 to June 8, 2011. The order makes it possible for Puerto Rico to receive federal aid to supplement the expenses incurred by the central and municipal governments.
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