P.R-D.R. ferry officially inaugurated in Santo Domingo today
June 30, 2011
Santo Domingo, Dominican Republic -- One month after restarting its maritime connection between Puerto Rico and this neighboring island nation, the Caribbean Fantasy ferry will be officially inaugurated at the Don Diego terminal in the city's colonial zone during a ceremony later today.
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JetBlue adding direct San Juan-Bradley route starting in January
June 29, 2011
Low-cost carrier JetBlue announced Wednesday the January 2012 start of direct, non-stop service between the Luis Muñoz Marín International Airport and Bradley International Airport in Connecticut — a popular route long underserved by airlines.
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Monsanto to build $4.3M R&D lab in Juana Díaz
June 29, 2011
Agricultural technology company Monsanto will announce today a $4.3 million expansion to convert temporary facilities in Juana Díaz into permanent ones, while expanding its research and development labs on the island, according to stateside reports.
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P.R.’s 50+ community young-at-heart, important consumer market segment
June 29, 2011
Puerto Rico’s growing 50-and-over population is financially powerful, young at heart, protective of their properties, focused on their well-being, and live for the moment, while remaining fully capable of taking care of themselves in the long-run.
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Voluntary tax amnesty ends June 30
June 29, 2011
With just two days left until the end of the government’s 2011 fiscal year, Treasury Secretary Jesús Méndez on Tuesday urged citizens and corporations that have not reported income received from legal sources to do so without penalty through the agency’s Voluntary Declaration Program that ends June 30.
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Plaza las Américas reshuffles tenants, adds more stores to mix
June 29, 2011
The Plaza las Américas shopping center in Hato Rey will be adding two new tenants to its mix — CH Carolina Herrera boutique and the Disney Store — by the end of the year, mall operators announced Tuesday.
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First Bancorp sells off another block of stock
June 28, 2011
First Bancorp announced Tuesday it has entered into a definitive agreement with Oaktree Capital management to sell 24.9 percent of its common stock, for $175.5 million. The transaction comes a month after FirstBank’s parent company entered into a similar agreement with private equity firm Thomas H. Lee Partners, L.P.
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Highways concession contract inked, Abertis vows to repave 25% of PR-22 in 3 years
June 28, 2011
Over the next three years, two Puerto Rico highways will undergo a $56 million facelift en route to becoming world-class roads, so said the new private-sector consortium of Goldman Sachs Infrastructure Partners/Abertis, upon signing a 40-year management contract with the government at La Fortaleza Monday.
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DirecTV earmarks $13M for projects, upgrades
June 28, 2011
Satellite television provider DirecTV is wrapping up its 12th year of operations on the island with a $13 million investment in new projects slated through the end of 2011.
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Former GDB president García appointed chief of staff at Sovereign Bank
June 27, 2011
Boston-based Sovereign Bank, a wholly owned subsidiary of Banco Santander, has named former Government Development Bank President Carlos García to the position of chief of staff reporting directly to Jorge Morán, president and CEO of Sovereign Bank and country head of Santander businesses in the United States.
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Planning Board: Exports up 10.2% in first 8 months of Fiscal ’11
June 27, 2011
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.
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Highest-ranked Puerto Rican federal transportation official touts benefits of PPPs
June 27, 2011
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.
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Joint P.R.-D.R. projects flourishing, 10 in pipeline so far
June 27, 2011
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.
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CofC draws promise from Fortuño to eliminate commercial property taxes
June 25, 2011
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.
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Pierluisi lauds passage of bill overhauling federal patent law
June 25, 2011
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.
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