Wright steps down as Scotiabank CEO, moves to Canada operations
June 10, 2011
Troy Wright, who steered Scotiabank de Puerto Rico through last year’s acquisition of R-G Premier Bank’s failing assets, is stepping down as CEO to join Scotiabank Group's operations in Canada as executive vice-president, retail distribution, Canadian banking, effective July 18.
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Banco Popular marks 50 years in U.S. market during P.R. parade in NY
June 10, 2011
Banco Popular de Puerto Rico will kick off the celebration of its 50th anniversary of service in the U.S. mainland with a lavish float at the National Puerto Rican Day Parade this Sunday.
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Doral stock wavers on housing stimulus extension buzz
June 10, 2011
Doral Financial Corp.’s stock has been on a rollercoaster ride on Wall Street this week, declining by 13.9 percent Wednesday, but climbing back 6.59 percent to $1.78 a share at the end of business Thursday.
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Jobless rate reaches 16.2% in April, dipping slightly year-over-year
June 10, 2011
The island’s persistently high unemployment rate dropped slightly to 16.2 percent in April, representing a 0.7 percentage point reduction from the 16.9 percent rate on record for the same month last year. When compared to March 2010, the current rate is also down, by 0.6 percentage points, Labor Department statistics released Thursday revealed.
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New partners join FirstBank environmental initiative
June 10, 2011
In observance of International Year of Forests, FirstBank has joined Hospedería Rio Abajo Forest Cooperative and Educational Services and Alternative Tourism Trips under its One with the Environment program to educate 500 students from public schools in Arecibo and Utuado on the importance of protecting forests and their surroundings for their ecological value.
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P.R. farmers pack their products for marketing trip to Big Apple
June 10, 2011
The Agriculture Department is sponsoring a junket to New York this week for a group of 11 Puerto Rican farming entrepreneurs looking for stateside buyers for a variety of locally grown products including oranges, soursop, mango, okra, star fruit, tamarind, squash, sweet peppers, tomatoes, onions, avocados, cilantro and oregano.
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Bristol-Myers Manatí plant back on track with FDA
June 9, 2011
Less than a year after getting into hot water with the U.S. Food & Drug Administration, Bristol-Myers Squibb in Manatí has reportedly solved its problems and is back in the regulator’s good graces.
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EDC, CUD join forces in favor of local entrepreneurs
June 8, 2011
Several initiatives are in the works to strengthen the island’s small and mid-sized businesses, including developing a website through which local companies can explore export opportunities, especially to countries in the Caribbean and Latin America.
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Blu Caribe announces $4M plant upgrade, creates 115 jobs
June 8, 2011
A little over a year after acquiring a plant formerly owned by Biovail in Dorado, Blu Caribe announced Wednesday a $2.5 million upgrade to its plant that will create 115 new jobs and allow the addition of more products to its manufacturing line in coming months.
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CNE: Fortuño administration controls spending, not runaway debt
June 8, 2011
Although the government has managed to successfully contain public spending since 2008, the island’s indebtedness rate has soared at a faster pace than its Gross National Product during the last three years, currently reaching a 50-year high.
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OGPe’s online system accepts more than 23K permit applications in 6 months
June 8, 2011
In the six-month period between Dec. 1, 2010 and June 3, 2011, the Permits Management Office has received 23,112 permit applications online, of which 71 percent have been processed, the head of that agency said during a public hearing Tuesday.
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Pottery Barn closing in Plaza las Américas
June 7, 2011
Just a little over three years after opening its first store in Puerto Rico, home décor retailer Pottery Barn is reportedly closing its doors at the mall.
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Microsoft’s P.R. operations pull double-duty, serve as ‘tax shelter’
June 7, 2011
Software giant Microsoft has reportedly been using three jurisdictions where it operates outside the United States — Puerto Rico, Ireland and Singapore — as tax shelters to reduce its federal tax bill, the Financial Times reported.
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P.F. Chang’s China Bistro opening in Plaza las Américas
June 6, 2011
P.F. Chang’s China Bistro is making its entrance into the Puerto Rico culinary arena with the opening of its first restaurant at Plaza las Américas, local franchisee International Restaurant Services Inc. announced Monday. The two-story, 8,000 square-foot restaurant will be located at the mall’s first level, between the entrances to Borders and BBVA, with access […]
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Casa Lola, newest Condado eatery, opens today
June 6, 2011
Casa Lola Criollo Kitchen, the latest restaurant to join Chef Roberto Treviño’s thriving portfolio of eateries, opens its doors today, adding to the Condado area’s vibrant culinary offering.
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