Less than two months after announcing plans to be eyeing Puerto Rico for the development of a $150 million solar energy project, this week Canadian firm Western Wind Energy Corp. confirmed it has signed a 30 megawatt photovoltaic purchase power agreement with the Puerto Rico Electric Power Authority.
The fourth edition of Saborea Puerto Rico “A Culinary Extravaganza” will once again return to the Escambrón Beach in San Juan, from April 1-3, when a full lineup of local and international chefs will showcase their talents.
When Puerto Rico’s current recession started in 2006, it set off one of the most significant migrations of island residents in recent history, with some 37,000 people leaving in search for a better life that year. In the last five years that number has blown up to more than 300,000, the Migrant Profile released by the Puerto Rico Statistics Institute showed on Monday.
Puerto Rico’s main banks had more than $75.6 billion in combined assets at the end of 2010, reflecting a year-over-year drop of 15.6 percent, according to a report released by the Office of the Commissioner of Financial Institutions.
The Economic Development Bank announced Sunday the approval of $7.2 million in loans — and a $1 million revolving credit facility — to help a trio of local businesses develop and keep their businesses going.
As oil prices settled at close to $98 a barrel Friday, prices at the pump on the island also spiked, prompting concerned consumers to scramble to fill up their tanks in case things get worse in coming days.
Puerto Rico’s workforce fell to 41.4 percent in January 2011, representing the lowest participation rate recorded for the month of January since 1983, when the number reached 40.7 percent, the Labor Department informed Friday.
El Amal closed its doors a week ago. (Credit: © Mauricio Pascual) Almost a week after closing down its local operation, El Amal’s parent company, A+HC Holding Inc., filed for Chapter 11 bankruptcy protection, buckling to the island’s ongoing economic problems and the banking crisis they said compounded their operational problems. This is the second […]
North Carolina-based shipping and transportation logistics provider Horizon Lines Inc. on Thursday confirmed it has reached an agreement with the U.S. Department of Justice to enter a guilty plea and settle a charge of violating federal antitrust laws with respect to Puerto Rico trade activity. As a result, the company will pay a $45 million […]
TRB President Sandra Torres, flanked by lawmakers Paula Rodríguez Homs, Lornna Soto and José Chico during a Thursday news conference. Almost 15 years after the Telecommunications Regulatory Board began regulating the local market, it has gotten the legal go-ahead to include direct broadcast service providers, or satellite television companies, within its jurisdiction. Through the approval […]
El Amal will open a single store on Friday. (Credit: © Mauricio Pascual) Health Department officials said Thursday they reached an agreement with the owners of El Amal to open a single store in the San Juan metropolitan area, to fulfill prescriptions that were left pending when the drugstore chain closed its doors late last […]
Ford Motor Company is looking to increase its participation in the island’s automobile market to 13 percent this year, selling close to 10,000 units, said Waldo Galán, director of Ford Puerto Rico, on Wednesday.
Alvaro Celis, general director for Microsoft’s multi-country Americas division and Cleber Voelzke, general manager of the Puerto Rico operation. (Credit: © Mauricio Pascual) Microsoft Puerto Rico is looking to change the way people work in Puerto Rico by practicing what it preaches. On Wednesday, the company inaugurated its new $2.5 million, 13,000 square-foot headquarters at […]
Jorge Martel As Puerto Rico’s dynamic wireless mobile market continues to evolve, so do customer trends and needs. For T-Mobile, notable tendencies that have emerged in recent months are a growth of the so-called “affordable smartphone” customer segment and a demand for more and better mobile content. During his first meeting with members of the […]
Puerto Rico businesses are missing out on making millions from federal government contracts each year, a shortcoming that represents a significant loss of growth opportunities. Looking to mitigate that, the Puerto Rico Industrial Development Co. on Tuesday announced the creation of the Federal Contracting Center, an office that will begin operating next month at the agency’s Hato Rey headquarters.
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