P.R.’s new car sales grow 37.3% in April driven by insurance payments
May 16, 2018
New car sales in Puerto Rico reached 8,105 units in April, representing a 37.3 percent increase over the 5,903 units sold during the same month last year, the United Group of Automobile Importers confirmed.
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Microsoft asks FCC to OK use of open TV ‘white space’ to reconnect PR/USVI
May 14, 2018
Technology giant Microsoft Corp. has asked the Federal Communications Commission to allow it to temporarily use so-called “TV white space” to operate on those channels to restore communications capability in areas of Puerto Rico and the U.S. Virgin Islands affected by Hurricanes Irma and María.
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P.R. economic activity shows 2.6 percent drop Y-O-Y in March
May 11, 2018
Puerto Rico’s Economic Activity Index, released by the Economic Development Bank, reached a level of 119.3 in March.
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Liberty P.R. expects to have ‘full connectivity’ by June; lost $45M in revenue post-storms
May 10, 2018
Liberty Puerto Rico has restored 80 percent of its infrastructure, ravaged by Hurricanes Irma and María last September, and expects to be fully back online by June, after investing $130 million in repairs.
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Puerto Rico Comic Con to generate $2.5M in economic activity May 18-20
May 9, 2018
The Puerto Rico Comic Con, slated to take place May 18-20 at the Puerto Rico Convention Center in San Juan, is expected to generate some $2.5 million in economic activity.
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Puerto Rican grocery chain Econo breaks ground on $90M distribution, service facility
May 4, 2018
Econo, a local supermarket chain founded in 1970, is investing $90 million in a new state-of-the-art Distribution and Services Center located in the northern town of Canóvanas, slated to open in 2020 in time for the company’s 50th anniversary.
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Hyundai de Puerto Rico ushers in new president, redesigned Accent ’18
May 4, 2018
Automaker Hyundai de Puerto Rico announced the arrival of a new CEO for its brand in Puerto Rico, Tatsuo Takahashi, who takes over the reins of the operation as new and redesigned vehicles are introduced into the lineup.
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Foundation for P.R. bets on visitor economy as ‘engine for reconstruction’
May 3, 2018
Puerto Rico’s “visitor economy” may represent a greater economic impact than tourism statistics alone suggest, so there is a need to design a measuring mechanism to produce a “sustainable, growing cluster of industries that drive further development and growth.”
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T-Mobile, Sprint to merge; P.R. Telecom Regulatory Board to comment to FCC
April 30, 2018
Wireless carrier T-Mobile U.S. announced an agreement to buy the assets and operations of Sprint Corp., in an all-stock transaction worth about $60 billion.
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The Mall of San Juan operator confirms 5 tenants will reopen by summer
April 28, 2018
At least five major tenants at The Mall of San Juan will reopen during this quarter, Robert Taubman, CEO of Taubman Centers, the shopping center’s owners, confirmed.
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P.R. Soccer League, Playbook Management partner to invest in, boost sport
April 27, 2018
The Puerto Rico Soccer League, the island’s most elite league, will join forces with Playbook Management to create an administrative and legal structure for the sporting organization, looking to invest in and further the sport, executives said.
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Popular Inc. CEO: P.R. has ‘unique opportunity’ to tackle long-standing problems
April 25, 2018
Puerto Rico, which has been facing long-standing structural problems now has a “unique opportunity” to tackle them, Popular Inc. CEO Ignacio Álvarez said during an earnings call to disclose first quarter results.
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P.R.’s economic activity down 4.2% year-over-year in February
April 24, 2018
Puerto Rico’s Economic Development Bank released the Economic Activity Index for the month of February 2018, which revealed a reduction of 4.2 percent, compared to the same month in 2017.
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OFG CEO: Gov’t, OBoard clash over Fiscal Plan could choke federal fund flow
April 23, 2018
The clash between Gov. Ricardo Rosselló’s administration and the Financial Oversight and Management Board for Puerto Rico over the implementation of the federally appointed entity’s Fiscal plan could unleash a protracted court fight and generate uncertainty about flow of federal aid to the island.
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P.R.’s AgBio sector represents economic benefits, job creation
April 20, 2018
The companies that make up part of the biotechnical agricultural industry in Puerto Rico generate, for each invested dollar in the industry through incentives and tax credits, a return on investment of $5.36 for the local economy, with a net benefit of $65 million.
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