Cement sales drop in Dec. ’10, remain flat year-over-year
January 12, 2011
Cement sales on the island continued their downward spiral during the last quarter of 2010, dropping close to 8 percent, but remained nearly flat year-over-year.
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American Express, Delta team up to launch new card
January 11, 2011
Amarilys Crespo and Juan Abbiati, of American Express and GilbertoTejera, of Delta Air Lines. American Express is moving forward with its expansion plans on the island this year. However, its strategy calls for doing it conservatively. In keeping with that, on Tuesday, the credit card issuer and Delta Air Lines announced the introduction of the […]
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Stateside media outlet zeroes in on 4% corporate tax
January 11, 2011
Washington D.C.-based The Daily Caller on Tuesday zeroed in on the recently passed 4 percent tax on foreign corporations, saying it is has the makings of an "indirect bailout," as Fortuño administration officials seek to have the IRS allow affected companies to write off the new collective $6 billion business expense as a tax credit.
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Fresh milk price increase effective Jan. 20
January 10, 2011
The Agriculture Department announced Monday that effective Jan. 20, the price of fresh milk will increase by 10 cents a quart, meaning that consumers will pay as much as 40 cents more at the register. Agriculture Secretary Javier Rivera Aquino made the announcement made after a lengthy hearing at the U.S. District Court in San […]
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$120M solar energy project slated for Yabucoa
January 10, 2011
Canadian firm Western Wind Energy Corp. has set its eye on Puerto Rico, with the planned development of a $120 million, 30 megawatt solar energy project in Yabucoa.
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First BanCorp announces 1-for-15 reverse stock split
January 5, 2011
First BanCorp, parent company of First Bank, announced Wednesday that, effective Jan. 7, it will implement a 1-for-15 reverse stock split of all outstanding shares of its common stock as it pulls at its options to remain listed on the New York Stock Exchange.
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AT&T announces plans to combine technologies to deploy 4G
January 5, 2011
HTC Inspire 4G Using the Consumer Electronics Show as its backdrop, AT&T announced the deployment of 4G speeds using both HSPA+ and LTE technologies to deliver faster services. Company officials announced plans Wednesday to accelerate its LTE network build, to be largely complete by late 2013. The carrier also plans to begin its launch of […]
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CPI shows slight drops in key segments
January 5, 2011
The Consumer Price Index showed a drop of 0.1 percent in November, in comparison to the same month last year, according to information released Wednesday by the Puerto Rico Statistics Institute.
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P.R. area codes still underutilized
January 5, 2011
Nearly a decade after the island was assigned a second area code — over concerns that telephone numbers available under the “787” code were running out — it turns out that both area codes are still being underutilized.
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SBA backs more than $14.3M in loans to P.R., USVI small businesses
January 4, 2011
In the first quarter since its enactment, the Small Business Jobs Act has enabled the Small Business Administration to approve more than $10.3 billion in loan guarantees, which in turn have generated more than $12 billion in commercial lending to small companies, agency Administrator Karen Mills said. Of that money, more than $14.3 million has […]
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’60 Minutes’ interviews Glaxo whistleblower
January 3, 2011
(Credit: 60 Minutes) Cheryl Eckard The woman who blew the whistle on the production problems plaguing the now-shuttered GlaxoSmithKline plant in Cidra was interviewed on 60 Minutes on Sunday, marking the first time she has spoken publicly of the manufacturing breaches. In the report, Cheryl Eckard — a former global manager for quality assurance for […]
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U.S. Treasury yet to issue decision on Law 154 tax credit
January 3, 2011
The U.S. Department of Treasury has yet to issue a decision on whether foreign companies doing business in Puerto Rico will be allowed to take a credit for the excise tax imposed through Law 154, which goes into effect this month.
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Arkansas shipper opens routes to Dominican Republic
January 3, 2011
Arkansas-based ABF Freight Systems on Monday announced the launch of new carrier service between the U.S. mainland and the Dominican Republic, in addition to a route between Puerto Rico and the neighboring island nation. The expansion responds to “increased demand for shipping solutions from customers taking advantage of opportunities created by the United States-Dominican Republic-Central […]
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Stateside analyst firm notes Popular Inc, Oriental’s ’10 performances
December 31, 2010
Digital financial media company TheStreet.com this week included two local banks in its list of “Bank Stock Awards” winners, recognizing their respective performance improvements in 2010.
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P.R. gets $1M from U.S. Dept. of Labor for clean-up works
December 31, 2010
Puerto Rico has received $1 million from the U.S. Department of Labor’s National Emergency Grant program to continue clean-up and recovery efforts in the wake of the tough weather the island experienced in May.
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