Several hundred Puerto Rico-based schools, municipalities and nonprofits will receive more than $5.5 million from the Federal Communications Commission’s E-Rate funding program to boost broadband services. The program is part of the Universal Service Fund, which has opened two funding windows so far this year. During the first round, the agency received 361 funding requests […]
Online marketplace eBay recently held the second edition of its “Entrepreneurs of the Year Awards,” which this year included a Puerto Rican business owner among the winners. Local entrepreneur Iván Blázquez received the “New Business Award” for creating Tropical Plantae, an agricultural company located in Aguadilla deemed “the most successful new business on the platform, […]
The U.S. Small Business Administration, in consultation with the Treasury Department released a simpler loan forgiveness application late last week for Paycheck Protection Program (PPP) loans of $50,000 or less. This decision could affect a little more than 32,000 PPP loans granted in Puerto Rico, according to SBA data released earlier this year. This action […]
Puerto Rico’s new car market showed a deeper contraction than that of the U.S. mainland from March to May — the peak quarantine months to curb the COVID-19 pandemic — but the local market has recovered much faster since then, according to a study by Abexus Analytics. According to the firm’s research entitled “Economic Trends […]
Short-term rental platform Airbnb announced that from Aug. 1, 2017 to Aug. 31, 2020 it has collected a total of $16.8 million from the 7% hotel room occupancy tax and remitted the money to the Puerto Rico government. In 2017, Airbnb established an agreement with the Puerto Rico Tourism Co. to formalize short-term rentals and […]
The Fairmont El San Juan hotel has named Kelley Cosgrove as general manager of the Isla Verde property, which is also in line to undergo a round of renovations, this media outlet confirmed. Cosgrove, who brings with her 33 years of experience with the chain in properties in Canada, Dubai, Hawaii and California, has been […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2020/10/Cybersecurity-podcast-Oct-2020.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSOctober is Cybersecurity Awareness Month, an effort launched through a collaboration between the U.S. Department of Homeland Security and the National Cyber Security Alliance in October 2004. This year’s theme is “Do Your Part. #BeCyberSmart,” helping to empower individuals and organizations to own their role […]
A total of 443 petitions were filed at the U.S. Bankruptcy Court in Puerto Rico during the month of September, representing a 31.1% drop from the same month in 2019, according to a report released by research firm Boletín de Puerto Rico. In September 2019, the court received 629 bankruptcy cases, according to the report. […]
Puerto Rican consumers spent an average of $500 a month on groceries, or 18% more than the average $422 spent last year, the Chamber of Marketing, Industry and Food Distribution’s annual Consumer X-Ray revealed. “Spending appears to be driven by an increase in the frequency of visits to supermarkets, which registered an average of eight […]
Puerto Rico’s retail sales increased by 14.8% in July, compared to the same month of the previous year, according to the Retail Sales Report issued by the Department of Economic Development and Commerce’s Office of Economic Analysis. Retail sales reached $2.8 billion in July, four months into the restrictions on the economy put in place […]
The Internet Corporation for Assigned Names and Numbers (ICANN) 2020 Nominating Committee announced the selections for seven leadership positions, including Javier Rúa-Jovet, who is occupying a position within the organization for the third time. In this appointment, Rúa-Jovet will participate in the Country Code Names Supporting Organization (ccNSO) Council, the transnational entity that establishes policies regarding country […]
Fermín Fontanés, executive director of the Puerto Rico Public-Private Partnerships Authority, provides an update on several proposals in the pipeline in the areas of energy and transportation, as well as the effects of the COVID-19 pandemic on the proceedings.
A group of 32 credit unions in Puerto Rico received about $6 million in assignments from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) to expand their services to economically disadvantaged communities. The allocation constitutes the largest amount granted by the U.S. Treasury to co-ops in Puerto Rico, reaching $10 million […]
The announcement last week that Puerto Rico will receive almost $13 billion in new disaster aid from the Federal Emergency Management Agency, primarily to rebuild the island’s power grid, is credit positive, Moody’s Investors Service said. “The announcement is credit positive for both Puerto Rico Electric Power Authority (PREPA: Ca, Neg) and the Commonwealth of […]
The Puerto Rico Retailers Association (ACDET, in Spanish) announced the results of the Collaborative Surveillance Program that the sector has integrated into its efforts to minimize the risks of COVID-19 contagion, which revealed that 96% of participating establishments are 96% compliant in their protocols. The conclusion stems from a sample involving 45,000 observations by 15 […]
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