Claro launches 4G service, invests $240M
February 16, 2011
Enrique Ortiz de Montellano For the second time in as many days a local wireless provider has jumped into the 4G arena. On Wednesday Claro de Puerto Rico announced the start of its next-generation wireless service, with an investment of $240 million. The HSPA+ network covers 80 percent of Claro’s footprint, including Vieques, said Claro […]
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Borders files for Chapter 11, 2 P.R. stores closing
February 16, 2011
Michigan-based mega books retailer Borders Group filed for Chapter 11 bankruptcy protection in a New York court on Wednesday, confirming industry reports that it would seek to reorganize deteriorated finances.
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AT&T announces network upgrades for P.R. operation
February 15, 2011
(Photo Credit: Carlos Anguita) AT&T de Puerto Rico on Tuesday announced plans to beef up its local wireless network, adding cell sites and technology to enable fourth-generation transmission speeds. However, in an unusual twist to its announcement, the company withheld associated investment figures. Nevertheless, the island’s largest wireless carrier said its plans call for installing […]
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Proposed federal budget cuts a threat to P.R.
February 14, 2011
The $3.73 billion budget submitted Monday by the Obama administration for fiscal 2012, which begins in October, will have a yet unquantifiable impact on the island that will likely mean less money for communities and students.
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Public sector has everything to win from modernizing, embracing technology
February 14, 2011
The issue of transparency regarding public sector procedures has become especially relevant during these tough economic times. To achieve it, governments have turned to technology to expose their agendas -- often going online to offer reports and information to show constituents how taxpayer money is being spent.
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Vieques hotels report drop in stays during first semester of FY ’11
February 14, 2011
W Hotel in Vieques Hotels in Vieques saw a 5 percent drop in the number of room nights sold during the first six months of fiscal ’11, maintaining a similar pattern of visitors in comparison to the same period during fiscal ’10. According to numbers released by the Puerto Rico Tourism Co., between July and […]
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Valentine’s Day weekend shaping up as profitable for retailers
February 12, 2011
If predictions by the National Retailers Federation are on target, stores will be flooded with love-struck shoppers this Valentine’s Day weekend. The Washington, D.C.-based trade group is predicting that $15.7 billion in flowers and chocolates — and of course, jewelry — will fly off the shelves in what is expected to be the first major […]
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Pfizer could settle $330M in Prempro lawsuits
February 10, 2011
A little over a month after the U.S. District Court in San Juan ordered Pfizer to pay $1.5 million in damages to a Puerto Rico pharmacist who developed breast cancer after taking menopause medication Prempro, the pharmaceutical is allegedly ready to pay some $330 million to settle similar lawsuits it has pending. The world’s largest […]
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Smart Modular Technologies shutting down Aguada plant
February 10, 2011
California-based computer memory manufacturer Smart Modular Technologies announced Thursday it will be closing its Aguada plant due to a long-term production decline. The closing, which will leave 104 people jobless, will be finalized April 13, company spokeswoman Suzanne Craig confirmed. The company informed employees of the decision on Monday. As a result of the closing, […]
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PRMA, Statistics Institute launch manufacturing index
February 9, 2011
Puerto Rico Statistics Institute Executive Director Mario Marazzi Given the pressing need for independent, reliable and periodic statistics about the economy and business conditions of the island’s industrial sector, the Puerto Rico Manufacturers Association’s Industrial Competitiveness Institute and the Puerto Rico Statistics Institute have paired up to begin publishing the Puerto Rico Manufacturing – Purchasing […]
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First BanCorp announces loan sale, 4Q losses
February 9, 2011
Just two months after announcing its intent, First BanCorp on Wednesday confirmed it has entered into a definitive agreement to sell a loan portfolio with an unpaid principal balance of $516.7 million to a newly created joint venture between Goldman, Sachs & Co. and Caribbean Property Group.
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Local banks banning hats, sunglasses, limiting celphone use at branches
February 8, 2011
Attention Puerto Rico bank customers: Starting Feb. 14 individuals will not be allowed to wear sunglasses or hats while conducting a transaction at a local bank branch. Mobile telephone use will also be limited.
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NY firm chosen to monitor Minillas Gov’t Center energy consumption
February 7, 2011
The Public Buildings Authority has entered into an agreement with New York-based utiliVisor to monitor energy consumption at the Minillas Government Center in Santurce, which houses a number of public agencies in several buildings.
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PR beverage producer to begin exporting to FL
February 7, 2011
Puerto Rican manufacturer Pan American Properties announced Monday it will be expanding its ready-to-drink cocktail product line, Gasolina Urban Blends, to Florida. The export plans call for teaming up with Premier Beverage, which has begun distributing the product in the southern U.S. jurisdiction, the company announced Monday. “We are very excited to introduce Gasolina Urban Blends to […]
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Open Mobile avoids hefty FCC fine
February 7, 2011
Open Mobile, one of the five wireless carriers serving the Puerto Rico market, has been spared from paying a $20,000 fine to the Federal Communications Commission for faltering to adequately report how it goes about protecting subscribers’ private information. The federal watchdog waived the fine late last week, after Open Mobile submitted a certification stating […]
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