Bankers Assoc.: 57% of PR bank branches operational
October 9, 2017
More than half, or 57 percent of Puerto Rico’s bank branches islandwide are offering services, Puerto Rico Bankers Association Executive VP Zoimé Álvarez-Rubio said.
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PR gov’t will go broke Oct. 31 without $4B-$6B from U.S.
October 9, 2017
The government of Puerto Rico will go broke by Oct. 31 unless the U.S. Department of Treasury approves an injection of between $4 billion and $6 billion that the local Treasury Department has requested.
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Alemán: Economic activity will pick up again in 6-9 mo’s
October 9, 2017
Hurricane María’s devastating impact on Puerto Rico could eventually ring positive for the island’s economy, which has been crippled by a 12-year recession and the recent catastrophic storm.
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Premium Outlets in Barceloneta to remain closed
October 6, 2017
Puerto Rico Premium Outlets in Barceloneta, will remain closed for the time being, while the administration works diligently to assess damages to the property caused by the effects of Hurricane María, company officials said.
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Engineers, architects ally to push for safer construction
October 5, 2017
The School of Architects and Landscape Architects of Puerto Rico (CAAPPR in Spanish) and the School of Engineers and Surveyors of Puerto Rico (CIAPR) have partnered to deliver an “urgent” message about the importance of hiring professionals with technical expertise to build safe housing and structures to withstand the brunt of a Hurricane María-type storm.
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Tenants at DDR’s 12 PR malls reopening after María
October 5, 2017
Mall operator DDR Corp. said all 12 of its Puerto Rico properties are now “clean and safe” and most anchor tenants are reopening as conditions allow.
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Rosselló: Damage to PR could reach $95B, Trump aware
October 4, 2017
Puerto Rico Gov. Ricardo Rosselló confirmed Tuesday he spoke to President Donald Trump about the magnitude of the devastation to Puerto Rico in the wake of Hurricane María, confirming it could reach $95 billion.
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FCC Chair files order to OK $76M for PR telecom repairs
October 4, 2017
Federal Communications Commission Chairman Ajit Pai proposed an order Tuesday that that would enable carriers in Puerto Rico and the U.S. Virgin Islands to use their Universal Service Fund allocations to more quickly rebuild networks.
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Liberty recovery efforts at full steam, free wifi available
October 4, 2017
Liberty Puerto Rico is making progress in its infrastructure restoration work, completing repairs to its fiber line from San Juan to Luquillo and lines extending to Caguas and Levittown, the company confirmed Tuesday.
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Plaza Las Américas mall partially reopens today
October 1, 2017
The management of Plaza Las Américas in Hato Rey announced the partial reopening of the mall today, when it will operate on a limited basis from 11 a.m. to 5 p.m.
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Wireless connectivity at 33% capacity, COWs arrive
September 30, 2017
Puerto Rico’s wireless telecommunications service is at 33 percent capacity, as carriers continue working 24/7 to restore the island’s connections to the world as soon as possible, executives said.
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Oriental CEO: It will be long journey, but PR will rebound
September 29, 2017
Puerto Rico has been living through a storm for the past 12 years, and as with every storm, it has experienced different levels of intensity. But the current circumstances have to be handled quickly to be able to build the Puerto Rico that is needed, said José Rafael Fernández, CEO of Oriental Financial Group.
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Gov’t: Trucks en-route to gas stations, under escort
September 27, 2017
Federal agents began escorting 91 trucks to supply gasoline to local stations, 108 of which have security provided by the National Guard and the Puerto Rico Police, the government’s Secretary of Public Affairs and Public Policy, Ramón Rosario Cortés said Tuesday.
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Local banks give clients 3-month reprieve on payments
September 27, 2017
Two of the island’s major banks, Banco Popular and FirstBank, stepped up Tuesday to help consumers during the hurricane-invoked emergency, offering three-month moratoriums a number of payments, including on mortgages and credit cards.
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Prouty: PR needs $40B from U.S. gov’t to recover
September 26, 2017
Millionaire investor and developer Nicholas Prouty, who has called Puerto Rico his home for five years, said Monday the U.S. government must provide the island at least $40 billion in funding for relief and recovery efforts.
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