BBVA Puerto Rico discloses growth plans for ’11, long term
April 6, 2011
BBVA Puerto Rico, one of the few banks that has successfully weathered the island's protracted financial meltdown, is looking to increase its local market share to 10 percent over the next five years, a high-ranking official said Wednesday.
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McClintock: Public Utility Commission in the works for P.R.
April 6, 2011
The State Department is getting technical assistance from the U.S. Department of Energy to establish a Public Utility Commission in Puerto Rico that would merge the Public Service Commission and the Telecommunications Regulatory Board. The new entity would also regulate the Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority, Secretary of State Kenneth McClintock told News is my Business.
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Venezuela’s GoldPack Inc. sets up shop in Yabucoa
April 5, 2011
Venezuelan machine parts manufacturer Industrias GoldPack Inc. has set up shop in Puerto Rico through a $1.2 million investment to establish an operation in a leased building in the eastern town of Yabucoa, company and government officials announced Tuesday.
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AT&T to charge more for early device upgrades, no-contract purchases
April 5, 2011
AT&T’s new upgrade fees will apply to a number of smartphone devicesin its portfolio. AT&T customers looking to trade in their mobile phones before their 24-month contract is up, but are not eligible for an upgrade, will have to pay more for the change — on top of the cost of the device — as […]
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Survey: P.R. consumers earn less or the same vs. ’10, but spend more at the register
April 5, 2011
Puerto Rican consumers who earned the same or less than they did last year are spending more on the food they buy, according to a poll conducted by Professional Market Research.
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MasterCard sees consumer confidence rebounding
April 5, 2011
Mario Pérez (Credit: © Mauricio Pascual) Puerto Rican consumers appear to be getting their confidence back, at least when it comes to swiping their MasterCard at the cash register. Such is the conclusion that Mario Pérez, general manager for MasterCard’s Caribbean region, offered based on last quarter’s performance levels on the island and throughout Latin […]
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Borders Carolina store closing April 15
April 5, 2011
Time is running out for the Borders bookstore in Carolina, which is set to close on April 15 — just two weeks shy of the contractual deadline that Illinois-based Hilco Merchant Resources, LLC has to finish liquidating as much as it can from the stores destined to close.
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Crowley, Ports reach inspections agreement
April 4, 2011
Rapiscan’s scanner facility in place at Crowley’s port facilities in San Juan. (Credit: © Mauricio Pascual) A week after the U.S. District Court for Puerto Rico granted a petition by shipping company Crowley for an emergency injunction against the Ports Authority’s mandatory cargo inspections, the parties have reached an agreement through which Crowley will launch […]
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Stateside Sbarro Ch. 11 petition spares P.R. operation
April 4, 2011
Fast-food Italian eatery chain Sbarro filed for Chapter 11 bankruptcy protection for its stateside business, a decision that is not expected to affect the local eight-restaurant operation, News is my Business learned Monday.
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SWA announces e-waste recycling event
April 4, 2011
If you’re one of thousands of consumers with old, useless electronic equipment lying around your home or office, you will have the chance to dispose of those devices properly next weekend during the Solid Waste Authority’s e-waste recycling event.
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GDB economic activity index shows 0.4% growth in February
April 3, 2011
Puerto Rico’s Economic Activity Index for February showed the first month-over-month increase, of 0.4 percent in comparison to January, since October 2010, the Government Development Bank said Sunday.
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OneLink begins all-digital system conversion
April 2, 2011
San Juan metropolitan area cable television provider OneLink has begun the conversion of its basic cable signal to digital format, a process that adds quality to the service and will affect thousands of customers who currently do not use a set-top box to watch television.
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NY Fed chief: P.R. showing signs of improvement
April 1, 2011
Puerto Rico’s economy may be showing signs that it is finally emerging from the recession it has been under for the past five years, but conditions still remain difficult for many as the island pulls out of its slump, Federal Reserve Bank of New York President William Dudley said Friday in a presentation during the E-3 Summit of the Americas conference in San Juan.
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First BanCorp unable to file timely ’10 annual report with SEC
April 1, 2011
First BanCorp on Friday informed the Securities and Exchange Commission that it will not be able to file its annual report for the year ended Dec. 31, 2010 on time, “without unreasonable effort and expense,” as it has not finished preparing the documents for that filing period.
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Saborea weekend food fest to pump $1.8M into economy
March 31, 2011
This weekend, the eyes of the culinary world will be on Puerto Rico, with the start of Saborea Puerto Rico: A culinary extravaganza! For the fourth edition of the event, 55 local and international chefs as well as 60 local restaurants will gather on the beachfront Punta del Escambrón, in San Juan, to enjoy a weekend of food, drink and cooking exhibits.
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