A’GACI announces closing of all stores, including 3 locations in P.R.
August 12, 2019
Some 18 months after filing for Chapter 11 bankruptcy, women’s fashion retailer A’GACI has announced the closing of the remaining 54 stores in its chain, including three in Puerto Rico. Going-out-of-business sales are underway at the stores — including locations in Plaza del Norte, Plaza del Caribe and Plaza Las Américas. However, it remained unclear […]
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Invest P.R. CEO: Investors must be assured things are moving forward
August 12, 2019
The political turmoil Puerto Rico has been experiencing in recent weeks is similar to what has happened in other jurisdictions, and investors must be assured that “things will continue to move forward,” Invest Puerto Rico CEO Rodrick Miller said. In an exclusive interview with News is my Business, Miller said it is very early to […]
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Invest P.R. poised to put island on the map
August 12, 2019
In this episode of “Dollars & Sense, a News is my Business podcast” we sat down with Rod Miller, CEO of Invest Puerto Rico, the recently launched independent entity responsible for promoting the island in the international business community. We invite you to listen to and share this interesting episode!
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Kona Grill closes only restaurant in P.R., at The Mall of San Juan
July 26, 2019
Nearly three months after filing for Chapter 11 bankruptcy protection, Kona Grill announced the closing of its only restaurant in Puerto Rico, at The Mall of San Juan. It opened in 2015. The eatery confirmed the decision in a notice sent via email saying “we want to thank all our guests for their past patronage […]
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FEMA to reinstate manual drawdown process for P.R. hurricane recovery funding
July 25, 2019
Citing the “ongoing leadership changes within the Puerto Rican government,” the Federal Emergency Management Agency announced its decision to reinstate the manual drawdown process for the Commonwealth of Puerto Rico as an additional step to protect the federal investment. Effective immediately, the Commonwealth must receive approval from the agency to drawdown grant funds for Hurricanes […]
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P.R. Pathology invests $7.5M in new 50K square-foot, state-of-the-art lab
July 25, 2019
Puerto Rico Pathology, which has been serving the island for 65 years, has invested $7.5 million in a new state-of-the-art, 50,000 square-foot lab to continue offering services on the island and the Caribbean. In an interview on the “En Una Hora” program on 11Q 1140 AM, in which News is my Business participates, Víctor Carlo, […]
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Rosselló resigns after corruption scandal, chat leak rocks administration
July 24, 2019
Embattled Gov. Ricardo Rosselló-Nevares is resigning, becoming the first governor in Puerto Rico’s history not to end his term and to leave office pressured by hundreds of thousands of island residents and members of his own New Progressive Party. However, his resignation will be effective Aug. 2, 2019, at 5 p.m. he said in a […]
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Oriental CEO: Political crisis could have future ‘economic consequences’ for P.R.
July 23, 2019
Upon revealing a 3.3% net revenue increase to $99.2 million from $96 million during the second quarter, Oriental CEO José Rafael Fernández said the events of the past week have not had an economic impact so far but could create them in the long-run. In a call with analysts to discuss the results, Fernández said […]
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San Juan-based businesses closing today as thousands expected to march
July 22, 2019
A range of private-sector businesses — from malls to banks — will remain closed today, as thousands of Puerto Rico residents are expected to convene on one of the island’s main highways to demand the resignation of Gov. Ricardo Rosselló. The massive march is expected to begin at 9 a.m. on PR-18, known as the […]
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Private sector reacts to arrests on gov’t corruption charges, ‘TelegramGate’
July 14, 2019
Today’s special episode features interviews with representatives from Puerto Rico’s private sector to discuss the events of the last week, when six people with ties to Gov. Ricardo Rosselló’s administration were arrested on corruption charges, as well as the contents of nearly 900 pages of a chat on Telegram involving the governor and a group […]
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New coach bus service launches today connecting Caguas and San Juan
July 11, 2019
ALSA-National Express, a public transport operator, will launch a new collective transportation system which will run between the municipalities of Caguas and San Juan, with stops at the Medical Center, Plaza Las Americas, Hato Rey, Covadonga and Isla Verde, among others. Following a $1 million investment, the firm will run two routes using a fleet […]
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P.R. Convention Center district officials update on $112M in projects underway
July 11, 2019
Puerto Rico Convention Center District Authority Executive Director Omar Marrero offered an update on eight projects underway in the busy zone that represent a combined $112 million in private investments. Among the most important projects is the EcoExploratorio, which will be a center for informal education in science, technology, engineering and mathematics (STEM), sustainability and […]
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Ferry rates for trips between Puerto Rico-Vieques-Culebra will increase with privatization
July 10, 2019
The rates charged to take the ferry between Puerto Rico and its island municipalities of Vieques and Culebra will begin increasing gradually after the service is transferred to a private operator, Public Private Partnership Authority Executive Director Omar Marrero confirmed. In an interview during the “En Una Hora” program on 11Q 1140 AM — in […]
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Maritime Transportation Authority picks proponent for Ceiba-Vieques-Culebra route
July 9, 2019
The Maritime Transportation Authority has reportedly selected the proponent that could be taking over the concession to provide transportation services between Puerto Rico and the island municipalities of Vieques and Culebra, this media outlet learned. Ten months after revealing the short list of companies in the running to enter into a public-private partnership with the […]
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P.R. Aqueduct and Sewer Authority opens bids for new $21.4M central lab
July 9, 2019
The Puerto Rico Aqueduct and Sewer Authority has launched a bidding process to find a private company to design and build its new central laboratory building, which has an estimated cost of $21.4 million. In the announcement, PRASA also said the project includes performing improvements to the site and existing utilities infrastructure. The project must […]
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