Puerto Rico's exports during the first eight months of fiscal 2011 increased by 10.2 percent to more than $50 million, from the $45.4 million on record for fiscal 2010, according to the latest figures released by the Puerto Rico Planning Board.
Saying the private sector is as responsible as the government for ensuring that transportation infrastructure is in good shape, Orlando Gotay, the highest-ranked Puerto Rican in the U.S. Department of Transportation, urged “more action and participation” from them, as well as regular citizens, in the decision-making process to address Puerto Rico’s present and future needs.
The tight cultural and commercial relationship between Puerto Rico and the Dominican Republic is about to get even stronger in coming months as the islands work to develop joint projects in the areas of biofuel and energy production that also involve private sector participation, said Virgilio Álvarez-Bonilla, ambassador and executive director of the Joint Dominican Republic-Puerto Rico Bilateral Commission.
Gov. Luis Fortuño promised members of the Puerto Rico Chamber of Commerce that he would be submitting legislation to eliminate commercial property taxes placed on unsold inventory, to improve the local business climate.
A bi-partisan Congressional bill proposing sweeping changes of the America Invents Act, which regulates patents, was passed by the House Friday with amendments submitted by Resident Commissioner in Washington, Pedro Pierluisi to benefit Puerto Rico.
Río Grande -- Gov. Luis Fortuño used as backdrop this year's Puerto Rico Chamber of Commerce Annual convention to announce the establishment of an alliance with the Dominican Republic to further entrepreneurial activities between the islands.
Mexican telecom giant América Móvil, parent of local incumbent carrier Puerto Rico Telephone (which does business as Claro), is in hot water with the Federal Communications Commission for violating indirect foreign ownership rules after issuing stock that increased owner Carlos Slim and his family’s corporate stronghold.
Los Angeles-based financial research firm B Riley gave Popular Inc. a cautious pat on the back this week, saying the banking institution has “solidified its capital base, and it appears to be turning the corner on asset quality,” following several years of substantial losses.
The Puerto Rico Office of the U.S. Small Business Administration will conduct a business seminar for women veterans, military service members, and their spouses on June 30, starting at 9 a.m. at the SBA’s facilities in Hato Rey.
The island’s cooperative sector added a dozen new players Wednesday, following the certifications of as many groups to operate businesses under that concept on the island, the Puerto Rico Cooperative Development Commission, known as CDCOOP, announced.
Two local companies beat out about 3,000 competitors around the world to nab the distinction of being named Microsoft Partners of the Year, the software giant announced Wednesday.
The Puerto Rico Convention Bureau is representing the island during this year’s edition of the AIBTM, The Americas Meetings & Events Exhibition, taking place this week in Maryland. AIBTM is the first large-scale exhibition to bring together the world’s entire meetings and events industry a single location.
Managed care provider Triple-S Management Corporation announced Tuesday the departure of its CFO Juan Jose Román, effective July 15. Román has reportedly accepted a position in the financial services industry, prompting Triple-S to begin searching for his replacement, the company said.
Sixty-seven small businesses in the areas of services, agriculture, manufacturing and technology received a combined $36.5 million in loans from the Economic Development Bank Tuesday, through which they will create some 5,700 jobs, agency President Ivonne Otero announced.
The elimination of certain farming incentives proposed in a pair of measures will not come to fruition as a result of the Puerto Rico Farm Bureau’s lobbying efforts at La Fortaleza, the trade organization said Tuesday.
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