Economic firm: Hurricanes revealed PR’s ‘broken’ infrastructure
November 24, 2017
Hurricanes Irma and María — which clobbered Puerto Rico back-to-back in September — revealed the island’s broken infrastructure, but created a second chance to rebuild, an analysis by economic research firm H. Calero Consulting concluded.
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Puerto Rican shoe store Novus invests $500K to open 1st store in Orlando
November 23, 2017
Puerto Rican shoe store chain Novus recently opened its first store in Orlando, Florida, located at the central atrium of the Florida Mall.
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MIDA: 2 mo.’s after Hurricane María, container backlog, product shortages persist
November 22, 2017
More than two months after María made history as one of the most destructive hurricanes to hit Puerto Rico in 80 years, the island is still experiencing a backlog of containers at the ports that translate into shortages at grocery stores, members of the Puerto Rico Chamber of Food Marketing, Industry and Distribution (known as MIDA by its Spanish acronym) confirmed.
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T-Mobile continues delivering relief, communications to PR communities
November 22, 2017
T-Mobile Puerto Rico employees have come together on a weekly basis to deliver assistance to several communities that received the brunt of Hurricane María in September, the company confirmed.
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Breaking with 28-year history, ToysRUs to start Black Friday sales on Thanksgiving
November 21, 2017
Marking what will be a first in 28 years, retailer ToysRUs will open at 5 p.m. Thanksgiving Day to begin its “Black Friday” sales in Puerto Rico, this media outlet learned.
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Economists: Hurricane María gives PR chance to improve metrics, decision-making
November 17, 2017
The Financial Oversight and Management Board held Thursday the first of three listening sessions to inform the process for revising the certified Fiscal Plans of the government of Puerto Rico and its agencies.
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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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