PRMA lobbies for key labor reform issues
March 9, 2011
The Puerto Rico Manufacturers Association reiterated Wednesday its desire to collaborate with the government and the rest of the private sector to develop and promote measures that stimulate job creation, contribute to Puerto Rico’s economic development and increase worker productivity.
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U.S. Customs approves flights between P.R., Cuba
March 8, 2011
U.S. Customs and Border Patrol has approved the start of direct flights between Puerto Rico's Luis Muñoz Marín International Airport and Cuba, local Ports Authority officials said Tuesday.
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S&P raises island’s credit outlook for 1st time in nearly 3 decades
March 7, 2011
In less than two months, Gov. Luis Fortuño's administration has received positive news from three stateside credit agencies monitoring the island’s fiscal and economic health.
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P.R. improves global tourism competitive ranking
March 7, 2011
Puerto Rico is among the world’s 50 most competitive travel and tourism destinations, as ranked by the World Economic Forum’s Centre for Global Competitiveness and Performance. In the report released Monday, Puerto Rico grabbed the 45th position among 139 global destinations, moving up eight notches since the study was last released in 2009. The island […]
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Small inns get $420K to convert to energy efficient systems
March 7, 2011
Palmas de Lucía’s energy efficient air conditioning systems. A handful of small local hotels are getting more than $420,000 in federal funds to adopt technology to harness green energy sources for their operations, and in the process, save a combined $45,000 a year on their bills. The hotels and inns that are developing such energy […]
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P.R. scouting for Hollywood business
March 4, 2011
The island’s allure for the glamour and glitz of Hollywood got a new boost Friday when Gov. Luis Fortuño — accompanied by performers Marc Anthony and Jennifer López — signed the new Puerto Rico Film Industry Economic Incentives Law that grants a slew of benefits to movie producers.
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Padilla: Banking sector on the mend after meltdown year
March 4, 2011
Nearly a year after Puerto Rico’s banking sector experienced a meltdown of historic proportions with the closing of three financial institutions, Financial Institutions Commissioner Alfredo Padilla said Friday that 2011 should be a “turnaround year” for the industry.
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Gatorade production shifts from Santa Isabel to Dominican Republic
March 4, 2011
The Dominican Republic’s powerful Grupo Corripio this week inaugurated a new $20 million Gatorade bottling plant that will supply the beverage to the rest of the Caribbean, including Puerto Rico. The new operation is the result of an agreement between Grupo Corripio and PepsiAmericas, which for the past five years had produced its Gatorade energy […]
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EDB chief to step down at end of month
March 4, 2011
By month's end, the government's two banks will see a turnover at the helm.
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NY debt insurer: P.R. poised for fiscal recuperation despite recession, obstacles ahead
March 2, 2011
New York-based National Public Finance Guarantee Corp. on Wednesday gave props to the government’s progress in successfully addressing Puerto Rico’s “structurally unbalanced fiscal environment.”
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Fortuño signs new stricter pawnshop law
March 2, 2011
Puerto Rico’s $30.1 million pawn industry will have to abide by a new law that went into effect this week, which among other stipulations, requires companies to be licensed to purchase metals and precious stones.
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Yabucoa solar energy farm gets the go-ahead
March 2, 2011
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.
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Foodies invited to 4th edition of Saborea Puerto Rico
March 1, 2011
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.
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Start of recession sparked significant migration from P.R.
February 28, 2011
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.
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Commercial bank assets drop 15.6% in ’10 while brokerage houses, cooperatives shine
February 28, 2011
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.
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