MIDA survey shows consumer shift from grocery store to restaurant
April 14, 2011
Puerto Rican consumers appear to be shifting toward eating out more than going to the grocery store, according to the results of a study commissioned by the Food Marketing Industry and Distribution Chamber released Wednesday that indicates a 12.1 percent drop in how much they spent last year on unprepared food.
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FCC chief economist airs concerns over AT&T/T-Mobile merger
April 14, 2011
The proposed transaction has yet to be submitted to the Federal Communications Commission for consideration, and the agency’s chief economist, Jonathan Baker, is already raising concerns about the deal’s potential increase on wireless prices.
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Fortuño unveils $9.26B budget for fiscal ’12
April 13, 2011
Gov. Luis Fortuño announced Tuesday his administration’s proposed $9.26 billion budget for fiscal 2012, which is $110 million higher than the one currently being spent that expires June 30.
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LMM private management firm selection on track
April 12, 2011
In about a year, the Luis Muñoz Marín International Airport in Carolina should be in the hands of a private operator, as per an updated timeline of the process that David Álvarez, executive director of the Puerto Rico Public-Private Partnerships Authority, presented to island investors last week.
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FDIC set to file more than 150 lawsuits against failed banks executives
April 12, 2011
The Federal Deposit Insurance Corporation is said to be preparing to sue at least 150 banking executives responsible for the financial debacle that has prompted the closing of nearly 350 banks in the United States since 2008, including three in Puerto Rico last year.
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Electronic corporate filings increase by 413%
April 12, 2011
Just four days before this year’s April 15th filing deadline, the number of corporate annual report filings at the State Department through Sunday had increased by 413 percent in comparison to the same date last year, which Secretary of State Kenneth McClintock attributed to the almost mandatory electronic filing requirement.
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Battery-operated Leaf vehicle hits first glitch
April 12, 2011
It has yet to truly hit the road and it is already hitting some bumps, of the mechanical malfunctioning kind. The Nissan Leaf, the automaker’s first battery-powered sedan, which the local government chose earlier this year to launch an electric vehicle program on the island, has already shown signs of engine restart troubles, manufacturers in Japan said over the weekend.
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Agriculture opens 2nd farmers’ market in Ponce mall
April 10, 2011
Ponce Mayor María Meléndez and Agriculture Secretary Javier Rivera Aquino, center, tour the Plaza del Caribe farmers’ market Saturday. Some 25 farmers participating in the Agriculture Department-sponsored farmers’ market in Plaza del Caribe in Ponce are expected to wrap up the weekend with between $35,000 and $40,000 in sales, organizers said. The first-of-its-kind event to […]
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SIF reports record number of insured employers
April 10, 2011
The State Insurance Fund closed 2010 with 116,380 insured Puerto Rico employers on record, the highest number reported in the agency’s 75-year history, Administrator Zoimé Álvarez said Saturday.
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Government: ‘Pro-growth’ economic policy should yield positive results in ’12
April 9, 2011
The government’s economic team, headed by Gov. Luis Fortuño, told Puerto Rico investors on Friday that while the island’s economy will not see growth until 2012, it is on an improvement track.
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Doral bank unveils $1M energy conservation initiative
April 7, 2011
Doral Bank is looking to reduce its energy footprint and contribute to better local environmental conditions with a $1 million overhaul of its Roosevelt Ave. headquarters lighting systems.
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EPA recognizes Martín Peña Channel Project’s economic development efforts
April 7, 2011
The U.S. Environmental Protection Agency on Thursday presented its Environmental Justice Award for outstanding work to the ENLACE Martín Peña Channel Project, for launching a comprehensive and environmentally sustainable economic development plan for the impoverished community.
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Plans to launch passenger service to the D.R. on indefinite hold
April 7, 2011
arine Express, the company that was poised to restart passenger ferry service between Puerto Rico and the Dominican Republic this month, announced Thursday it has put those plans on indefinite hold.
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P.R. Products Association receives $241K in federal funding
April 7, 2011
The Puerto Rico Products Association has been awarded with $241,000 by the U.S. Department of Commerce’s Minority Business Development Agency in the latest round of funding to boost job creation and foster the economic growth of minority firms. The nonprofit group, which has been running Minority Business Enterprise Center Puerto Rico for some 15 years, […]
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Public, private sectors wage battle against counterfeit medications
April 7, 2011
Things are not always what they seem, and in the case of counterfeit drugs, knowing the difference between what’s real and what isn’t could be a matter of life and death. With that in mind, pharmaceutical giant Pfizer launched an educational campaign this week to teach Puerto Rican consumers about the negative side of counterfeit medications, whose production and use is a growing global trend.
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