PR Taskforce members call on Republicans to extend tax provisions for island
November 16, 2017
With ongoing negotiations over tax reform, Members of the Congressional Hispanic Caucus Puerto Rico Taskforce sent a letter to Republican leaders in Congress urging the inclusion of tax provisions that will help rebuild Puerto Rico.
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Energy execs urge PR Energy Commission, OBoard to ‘take over’ PREPA
November 15, 2017
The Institute for Energy Economics and Financial Analysis and the Institute for Competitiveness and Sustainable Economics for Puerto Rico called for the Puerto Rico Energy Commission and the federal Fiscal Oversight and Management Board of Puerto Rico to take control of the Puerto Rico Electric Power Authority.
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PRMA warns about possible ‘catastrophic’ effects of federal tax reform
November 14, 2017
The draft bill of the U.S. tax reform being considered in Congress has the potential to “catastrophically impact” the island’s economy, jeopardizing more than 70,000 well- paid jobs and more than 35 percent of the Commonwealth’s budget, Puerto Rico Manufacturers Association President Rodrigo Masses warned Monday.
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Triple-S reports $21.9M in net income for 3Q17
November 10, 2017
Triple-S Management Corp. announced third quarter 2017 results Thursday, confirming net income of $21.9 million, or $0.91 per diluted share, versus a net loss of $1.9 million, or $0.08 per diluted share, in the prior-year period.
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Il Postino reopening in Miramar after 3+ years absence
November 10, 2017
The iconic Il Postino Restaurant — which closed its doors in Condado more than three years ago — is reopening today in the Miramar sector of San Juan with a menu reminiscent of the original eatery, but with affordable options included in response of the times.
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Marriott Resort gets energized as it readies for tourists
November 10, 2017
The San Juan Marriott Resort & Stellaris Casino recently got power service restored and will continue operating normally as it gears up for the upcoming tourism season, which the hotel’s general manager said will need a major marketing boost to bounce back after Hurricane María.
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Pattern Energy: No damage to Santa Isabel wind farm
November 10, 2017
Pattern Energy Group Inc. confirmed Thursday its Santa Isabel wind farm sustained no material damage from Hurricane María, but the reconnection date for the renewable energy project is still undefined.
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Gov. gives small businesses 5-week sales tax hiatus
November 9, 2017
Puerto Rico Gov. Ricardo Rosselló signed several executive orders to boost the economy, including one that exempts small and medium enterprises from collecting Sales and Use Tax on the sale and purchase of inventory.
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PIA: Most PR pharmas energized, restarting production
November 9, 2017
Puerto Rico’s pharmaceutical manufacturing sector took a major hit from Hurricanes Irma and María in September, but are in recovery mode and back in production to ensure continuity in the availability of medications in Puerto Rico and globally, Jaime Palacios, president of the Pharmaceutical Industry Association said Wednesday.
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FCC chair in PR to evaluate telecom needs, recovery
November 6, 2017
Federal Communications Commission Chair Ajit Pai will be in Puerto Rico this week to “evaluate and analyze” how the regulatory agency can continue collaborating in the recovery work related to the island’s telecommunications services, Telecommunications Regulatory Board President Sandra Torres confirmed.
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Science Trust hosts 200+ displaced professionals in PR
November 4, 2017
For the past two weeks, the Puerto Rico Science, Technology and Research Trust has hosted more than 200 entrepreneurs, independent professionals, startups and people needing a place to work at its headquarters in San Juan, CEO Lucy Crespo confirmed.
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Op-Ed: ‘Ricanstructing’ our business after María
November 3, 2017
“I will contribute to Puerto Rico’s recovery by not becoming an unemployment statistic.”
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OSJ retailers: Grim future if power isn’t back in 15 days
October 31, 2017
Old San Juan, a sector that is home to at least 800 businesses and 500 commercial offices, has been in the dark for the better part of the last six weeks, which have kept many from reopening since Hurricane María made landfall on Sept. 20.
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PREPA: Nulling Whitefish contract is ‘4-month setback’
October 30, 2017
The government’s decision to cancel the contentious $300 million contract with Montana-based Whitefish Energy will set back restoring Puerto Rico’s power fully by about four months, Puerto Rico Electric Power Authority Executive Director Ricardo Ramos said Sunday.
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‘After yrs of worrying about it, PR has finally hit bottom’
October 26, 2017
The impact of the back-to-back hurricanes — Irma and María — on the island has pushed Puerto Rico to “finally hit bottom,” said José Rafael Fernández, CEO of Oriental Financial Group Wednesday, upon announcing the bank’s third quarter results.
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