Telephone directory provider in P.R., DR files for bankruptcy
May 4, 2011
Squeezed by a decline in demand for its print telephone directories as consumers and advertisers turn their attention to online and mobile versions of the bulky book, Caribe Media Inc. filed for Chapter 11 bankruptcy protection Tuesday in Delaware.
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Bankrupt El Amal liquidating inventory; company president says unfair competition broke business
May 4, 2011
Nearly three months after abruptly closing down its local drugstore chain and filing for Chapter 11 bankruptcy protection, El Amal is liquidating the inventory it has left, the company in charge of the transaction announced in an ad published Tuesday.
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Walmart breaks ground on $50.2M Santurce Supercenter
May 4, 2011
Accompanied by Gov. Luis Fortuño and other government officials, retailer Walmart broke ground Wednesday on the new Supercenter it plans to build in the heart of Santurce, through a $50.2 million investment.
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April bankruptcies show year-over-year, double-digit drop: A 1st since ’06
May 2, 2011
The number of bankruptcy cases filed on the island in the month of April represented an 11 percent drop in comparison to the same month last year, Boletín de Puerto Rico reported Monday.
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CofC, EDC urge private sector to fill out WEF survey
May 2, 2011
The survey that will determine Puerto Rico’s ranking in this year’s World Economic Forum’s Competitive Report has been distributed to members of the local business community, who the Puerto Rico Chamber of Commerce is urging to fill it out to help paint a clear picture of the island’s current standing.
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Planning Board chief: Land use plan will be ready in ’12
May 2, 2011
He is an urban planner who lives on a five-acre farm in rural Vega Baja with his wife and a bunch of animals. But make no mistake about it, Ruben Flores Marzán, who was named Puerto Rico Planning Board president less than a month ago, is not horsing around when it comes to development.
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Puma Energy reaches agreement with EPA to clean up Capeco site
May 2, 2011
Puma Energy Caribe, LLC has agreed to clean up the former Caribbean Petroleum Refining facility in Bayamón, and address environmental conditions at 147 gas stations throughout Puerto Rico under two agreements proposed Monday by the U.S. Environmental Protection Agency.
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Hato Rey’s Polytechnic University opens Florida campus
May 2, 2011
Following a $2.9 million investment, the Polytechnic University announced Monday its expansion into the Central Florida region, with the inauguration of its new 40,000 square-foot campus.
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Groupon launching deal-of-the-day service in P.R.
May 1, 2011
Groupon, the wildly popular e-commerce website that offers deep discounts on "the best stuff to eat, see and buy," is launching its deal-of-the-day service in Puerto Rico on May 9, News is my Business learned.
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SAP reports 247% 1Q growth in P.R., Caribbean region
April 30, 2011
German enterprise software developer SAP this week released results for the first quarter ended March 31, reporting a 247 percent growth of its business in Puerto Rico and the Caribbean, attributed directly to booming technology adoption by small and mid-sized businesses.
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Oriental reports $13.1M in 1Q net income
April 29, 2011
Oriental Bank, one of only several financial institutions doing business in Puerto Rico that weathered last year’s banking debacle, reported $13.1 million in net income for the first quarter of 2011, up 4.7 percent from the same period last year.
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Claro edges closer toward securing cable TV franchise
April 29, 2011
Telecommunications service provider Claro may be close to approaching the finish line on a more than three-year race to obtain franchise rights to launch islandwide cable television services in Puerto Rico, News is my Business learned Thursday.
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PRMA outlines key initiatives to reclaim competitiveness
April 29, 2011
Calling it its “manifesto on the economy,” the Puerto Rico Manufacturers Association unveiled Thursday a series of initiatives needed to regain the ability to expand the island’s economy and create jobs.
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HFA launches mortgage loan assistance program
April 29, 2011
Some 1,500 Puerto Rico homeowners facing the possibility of foreclosure may be able to qualify for a new $20 million emergency assistance program unveiled Friday by the Puerto Rico Housing Financing Authority, in agreement with local banks.
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Sartorius Stedim Biotech announces $20M Yauco expansion
April 28, 2011
German medical device maker Sartorius Stedim Biotech announced plans for a $20 million expansion at its industrial complex in Yauco, which will add 87 new jobs and a new filtration systems manufacturing line to its operation.
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