esearch firm Business Monitor International on Monday predicted that Puerto Rico's pharmaceutical industry will show a slight growth of 2.5 percent next year, despite the looming threat of the effects of Law 154, which starting in January levies a 4 percent excise tax on foreign corporations doing business on the island.
The sale and popularity of smartphones running on the Android operating system is expected to explode in 2011, driven by better networks and improved — and cheaper — handsets, industry experts are predicting. The growth is already evidenced in numbers, as according to research firm IDC, Android-based phones sales have spiked 55 percent year-over-year, since […]
In the first three months since the launching of a government program to boost housing sales, some 10,640 units have been sold, representing more than $1.4 billion in economic activity, Housing Financing Authority officials said over the weekend.
Credit: Carlos Anguita The Puerto Rico Ports Authority announced this week plans to establish a new container inspection systems regulation, which is already generating talk among stateside maritime shippers. In a public notice published Tuesday, the agency announced that it will hold a public hearing on Jan. 21 to receive “testimonies and comments” concerning the […]
In a last-ditch effort to raise cash this year, the Puerto Rico Electric Power Authority announced it will be selling $500 million in taxable Build America Bonds before the program’s Dec. 31 deadline to save $130.8 million over tax-exempt borrowing, company officials said Thursday. The rush move responds to the agency’s interest in saving 35 […]
Insurance ratings agency A.M. Best on Wednesday revised its outlook on Cooperativa de Seguros de Vida de Puerto Rico (known as Cosvi for its acronym in Spanish), to positive from stable and affirmed the company's financial strength rating of B- (Fair) and issuer credit rating of “bb-."
As the price of copper continues to rise — more than doubling in the last two years — its theft is also escalating, prompting several local government agencies this week to take a stance against the problem by raiding a number of outlets dedicated to buying the metal without asking for evidence of its origin, as required by law.
Credit: Carlos Anguita U.S. District Court Judge Carlos Domínguez on Wednesday sided with the Puerto Rico Farm Bureau granting its petition for an increase in the price of fresh milk, to compensate for their operational costs. During a hearing, the judge ordered the Milk Industry Regulatory Office, known as ORIL, to comply with Regulation 12 […]
(Credit: PRHTA) Raúl Bustamante The Puerto Rico Hotel and Tourism Association on Wednesday announced the appointment of veteran hotelier Raúl Bustamante, general manager of the Conrad Condado Plaza, as the new chairman of its marketing committee. The committee serves as a forum for discussion, development and implementation of action plans to improve the ability to […]
The House of Representatives has submitted or reviewed 10 bills this year proposing changes to existing laws related to the telecommunications sector, none of which have been approved. Among the measures is House Bill 2489, filed in February, to authorize the Telecommunications Regulatory Board to regulate the terms and conditions stipulated in data service contracts […]
Credit: Carlos Anguita Puerto Rico’s dairy farmers, represented by the Puerto Rico Farm Bureau, will publicly expose their sector’s economic problems during a hearing Tuesday by the Milk Industry Regulatory Office (ORIL, by its initials in Spanish) to determine whether there is a need for a hike in the price of fresh milk. During the […]
Gift card sales are expected to reach $91 billion this holiday season, fueled by new regulations and consumer protections, a stateside research firm said.
Local venture capital group Guayacán Group Inc. is throwing its support behind technology transfer and furthering the commercialization of innovation or discoveries through a partnership with the University of Texas, Austin. As part of that effort, Guayacán will host a series of workshops on Jan. 13-14 with the Univ. of Texas Austin’s IC2 Institute open […]
The number of bankruptcy cases filed on the island during the first 11 months of 2010 represented at 10 percent year-over-year increase, according to data released Monday by local research firm Boletín de Puerto Rico.
Puerto Rico’s unemployment rate remained flat in November, compared to the same month in 2009 and the month of October, Labor Department statistics released Friday showed.
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