EDB announces $8.2M in support for local businesses
February 28, 2011
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.
chat_bubble0 Comment
visibility3396 Views
Pump prices spike, electricity costs next
February 27, 2011
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.
chat_bubble0 Comment
visibility3596 Views
P.R.’s January workforce lowest in 28 years
February 25, 2011
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.
chat_bubble1 Comment
visibility16548 Views
El Amal seeks Chapter 11 protection, again
February 25, 2011
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 […]
chat_bubble0 Comment
visibility8358 Views
Horizon Lines agrees to pay $45M to settle antitrust case
February 24, 2011
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 […]
chat_bubble0 Comment
visibility6410 Views
TRB to start regulating satellite television services
February 24, 2011
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 […]
chat_bubble0 Comment
visibility4890 Views
El Amal agrees to reopen a store for 30 days to fill prescriptions
February 24, 2011
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 […]
chat_bubble0 Comment
visibility4741 Views
Ford focuses on expanding market presence
February 23, 2011
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.
chat_bubble0 Comment
visibility4531 Views
Microsoft Puerto Rico inaugurates new $2.5M office
February 23, 2011
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 […]
chat_bubble0 Comment
visibility9643 Views
T-Mobile monitors 4G trends, launches new cutting-edge device
February 22, 2011
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 […]
chat_bubble0 Comment
visibility3930 Views
Pridco redesigns federal contracting program to help local businesses
February 22, 2011
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.
chat_bubble0 Comment
visibility3368 Views
High-speed Internet project officially unveiled, 1st access point to be ‘on’ by summer
February 22, 2011
Carlo Marazzi Promising to offer affordable high-speed Internet to all of Puerto Rico, the $32.5 million Puerto Rico Bridge Initiative was officially inaugurated Tuesday, with the goal of eventually expanding a broadband footprint to the entire island. The inauguration of the first phase of the network comes nearly a year after PRBI project manager Critical […]
chat_bubble0 Comment
visibility3976 Views
PRHTA looks to support creation of destination marketing organization
February 21, 2011
Saying the historical “flip-flopping” of tourism marketing campaigns for Puerto Rico has “confused the hell out of everybody,” the Puerto Rico Hotel and Tourism Association has set the ball rolling on establishing a destination marketing organization, or DMO, for the island.
chat_bubble0 Comment
visibility3844 Views
EDB looks to boost loan portfolio, expand benefits to small-, mid-sized entrepreneurs
February 20, 2011
The Economic Development Bank announced Sunday it is looking to boost its loan portfolio for Puerto Rico’s small- and mid-sized businesses by nearly 10 percent, to $275 million, in fiscal ’12, as a result of efficiencies achieved at the agency over the past 23 months.
chat_bubble1 Comment
visibility3508 Views
El Amal closes 22 local stores
February 19, 2011
El Amal’s owners left only a brief note on the door to announce the closing. (Credit: © Mauricio Pascual) Local drugstore chain El Amal closed down its 22 stores Saturday, taping only a brief note on the door to explain its decision to customers. It has been reported that some 600 people will lose their […]
chat_bubble0 Comment
visibility6096 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA