CNE: Gov’t has met goal of reducing deficit, but not expenses
February 18, 2011
Sergio Marxuach (Credit: ©Mauricio Pascual) Two years after the Luis Fortuño administration declared the island in a state of fiscal emergency, and put into motion a series of cost-cutting and revenue-generating measures, the government has managed to control expenditures and reduce the structural deficit — and has piled on debt — an analysis by the […]
chat_bubble1 Comment
visibility5410 Views
Borders liquidation sales begin Saturday
February 18, 2011
Expecting it to be a “short sale,” Borders Group on Saturday will begin liquidating everything at the 200 stores it will close as part of its Chapter 11 procedure, including the Carolina and Mayagüez locations.
chat_bubble0 Comment
visibility3697 Views
Embattled coffee farmers ask gov’t for help to save, boost crops
February 18, 2011
Local coffee production has dropped by half in the last five years as the sector considered a jewel of Puerto Rican agriculture has battled against natural disasters and a lack of people interested in taking on the arduous task of picking beans.
chat_bubble0 Comment
visibility14290 Views
Private sector calls for ‘credibility reform’
February 17, 2011
If the government truly wants to help the economy move forward, aside from monitoring that all of the recently enacted reforms effectively serve their purpose, it will have to implement what private sector representatives on Thursday called a “credibility reform.”
chat_bubble0 Comment
visibility12359 Views
GDB President stepping down
February 16, 2011
GDB President Carlos García (Photo credit: ©Mauricio Pascual) Government Development Bank President Carlos García will be stepping down from his post effective March 1, the official confirmed Wednesday. He will be succeeded by Juan Carlos Batlle, another banker.García’s resignation comes two years after he accepted the job, leaving his position as COO of Santander BanCorp […]
chat_bubble0 Comment
visibility4195 Views
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 […]
chat_bubble0 Comment
visibility6046 Views
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.
chat_bubble0 Comment
visibility5415 Views
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 […]
chat_bubble0 Comment
visibility3793 Views
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.
chat_bubble1 Comment
visibility3283 Views
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.
chat_bubble0 Comment
visibility3089 Views
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 […]
chat_bubble0 Comment
visibility8500 Views
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 […]
chat_bubble0 Comment
visibility12308 Views
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 […]
chat_bubble0 Comment
visibility4533 Views
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, […]
chat_bubble0 Comment
visibility5561 Views
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 […]
chat_bubble0 Comment
visibility3782 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA