PRMA expresses opposition to Law 154; CNE weighs in
January 14, 2011
Nearly 15 days after Law 154 — imposing an excise tax on sales by local subsidiaries to their foreign parent companies — went into effect, members of the Puerto Rico Manufacturers Association got a chance Friday state for the Legislative record their opposition to the measure.
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Travel agent convention to draw 1,200 participants
January 14, 2011
Puerto Rico is gearing up to welcome more than 1,200 travel agents from 120 countries who will participate in the American Society of Travel Agents' annual convention, slated for April 14-17.
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Bristol recalls Avalide produced in Humacao
January 13, 2011
For the second time in the last four months, pharmaceutical Bristol-Myers Squibb is announcing a major recall of its Avalide blood pressure tablets distributed on the U.S. mainland and Puerto Rico. On Thursday, the company announced it will be collecting 64 million tablets due to the potential for reduced effectiveness, Reuters reported. The medication was […]
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First BanCorp ‘unaware’ of developments affecting stock
January 13, 2011
First BanCorp announced Thursday — at the request of the New York Stock Exchange — that it is not aware of any developments that would account for the market activity in the corporation's common stock today.
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Seaborne Airlines inaugurates service at LMM
January 13, 2011
St. Croix-based Seaborne Airlines on Thursday marked the start of its new daily schedule of flights between the Luis Muñoz Marín International Airport in Carolina and the islands of St. Croix, St. Thomas and Vieques, in pursuit of business and leisure travelers in the region.
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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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