Evertec reports $510.6M in Fiscal ’20 revenue; $134.2M in 4Q20
March 2, 2021
San Juan-based Evertec disclosed its financial results for the fourth quarter and full year ended Dec. 31 2020, reporting a 6% quarter-over-quarter revenue increase to $134.2 million and 5% revenue growth of 5% to $510.6 million year-over-year. For the fourth quarter, the firm stated that GAAP net income attributable to common shareholders was $32.3 million, […]
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Liberty Puerto Rico reports $624M in revenue for ’20; $296M in 4Q20
March 1, 2021
Saying that the “integration of AT&T’s Puerto Rico and USVI operations [are] progressing well,” Liberty Latin America announced that its subsidiary, Liberty Puerto Rico, generated $624 million in revenue during the 12 months ended Dec. 30, 2020, representing a 9.9% increase year-over-year. In its latest financial report, Liberty Puerto Rico was also attributed $296 million […]
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T-Mobile Puerto Rico customer base exceeds 1M after fusion with Sprint
February 26, 2021
The culmination of its integration with Sprint, and the sale of AT&T’s wireless operation in Puerto Rico, has boosted T-Mobile’s business, which at the end of 2020 exceeded 1 million in customers for the first time, T-Mobile Puerto Rico General Manager Jorge Martel said. While sharing 2020 results, Martel said T-Mobile saw an 8% growth […]
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Tesla opening 1st service center in Puerto Rico in March
February 24, 2021
Electric automobile and renewable energy solutions manufacturer, Tesla, is opening its first vehicle service center in Puerto Rico and the Caribbean in March, this media outlet confirmed. “It’s pretty amazing that we finally got approved to open something down here to bring business to Puerto Rico, which is much-needed. So, we’re excited all-around,” said a […]
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Altamira Reserve mixed-use complex under construction in Guaynabo
February 23, 2021
Altamira Reserve, an 80,133 square-foot mixed-use complex in Guaynabo next to the busy Econo Altamira grocery store, is currently under construction with plans to open in the first quarter of 2022. The project is already visible from Martinez Nadal Ave. (PR-20) and is being developed by Bellagio Corp. for owner Rúa, LLC, which is also […]
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A La Orden Discount moving to former Downtown restaurant location in Hato Rey
February 22, 2021
Puerto Rican furniture and appliance retailer A La Orden Discount — an industry fixture for 45 years — is moving from where it has done business next to Plaza Las Américas mall for 37 of those years, to a new location in the heart of Hato Rey, this media outlet learned. The retailer will take […]
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Iconic Hacienda Tamarindo hotel in Vieques on the block for $3.3M
February 22, 2021
Hacienda Tamarindo, the longest-running hotel in Vieques, is up for sale for $3.3 million, according to the listing published by Paraíso Realty, the real estate firm handling the transaction. The property sits on a hilltop overlooking Esperanza Bay, and features 17 rooms, a pool, a 1,200 square-foot owner’s penthouse, a separate “casita” with its own […]
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3rd Coast Guard Exchange store to open in Caguas
February 19, 2021
The third Coast Guard Exchange location in Puerto Rico is scheduled to open in the summer in Caguas, the Coast Guard confirmed to this media outlet. The new 22,000 square foot CGX store is located at the Las Catalinas North Shopping Center, next to Burlington. CGX expects to hire 40 employees from the local area […]
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Trio of appointments and a retirement in this week’s Corporate Ladder
February 19, 2021
A long-time executive is retiring and is being succeeded at Popular Inc., while two executive appointed at a credit card company and the Puerto Rico Junior Chamber of Commerce are featured in this edition of Climbing the Corporate Ladder. Rullán to retire from Popular Inc.; González-Noguera to succeed herTeruca Rullán, senior vice president in charge […]
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SBA has approved $283.8M in PPP loans in Puerto Rico since Jan. 11
February 18, 2021
The U.S. Small Business Administration’s Paycheck Protection Program has approved $283.8 million in loans in Puerto Rico and another $171.2 million in the US Virgin Islands through the week of Feb. 15, it confirmed in a report. The second round of funding began on Jan. 11, and so far, participating local credit unions and banks […]
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Cuba Libre restaurant opening in Plaza Las Américas still on, despite delay
February 15, 2021
Philadelphia-based Cuba Libre Restaurant & Rum Bar, which was slated to open in Plaza Las Américas last month, will still make its debut in Puerto Rico, but with a delay of about a year, this media outlet confirmed. The construction and opening of Cuba Libre San Juan, a GuestCounts Hospitality LLC brand, was set back […]
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Treasury Dept. seeks exclusion from federal Foreign Tax Credit public policy
February 11, 2021
The Puerto Rico Treasury Department has asked its federal counterpart to clarify whether a new regulation under consideration concerning credits granted for taxes paid by corporations doing business abroad would apply to Puerto Rico. In a letter sent to US Treasury Secretary Janet Yellen, the local government asked for the proposed “Guidance Related to the […]
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SBA approves $171M in 2nd round of PPP loans in Puerto Rico so far
February 10, 2021
The number of loans that the U.S. Small Business Administration has approved so far through its second round of Paycheck Protection Program funding doubled in Puerto Rico to 4,740 during the week of Feb. 1-8, from the 2,595 OK’d the prior week. In its weekly update, SBA officials also confirmed that those applications approved so […]
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FirstBank lawsuit is latest in string of court claims against St. Clair
February 8, 2021
A report released last week by research firm Boletín de Puerto Rico revealed that financial institution FirstBank had filed a civil lawsuit against entrepreneur Keith St. Clair and his businesses, Around the World Holdings and Noir, LLC, seeking to collect on more than $3.8 million on a defaulted loan. The bank sought repayment of a […]
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17K businesses in Puerto Rico eligible for $65M in pandemic recovery aid
February 3, 2021
Puerto Rico government officials announced the availability of $65 million in new economic assistance for some 17,000 eligible small businesses whose operations have been interrupted during the COVID-19 pandemic. At a news conference, Department of Economic Development and Commerce Secretary Manuel Cidre and Treasury Secretary Francisco Parés offered details of the Business Interruption Grant from […]
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