Gov’t to spend $700K to use ‘Despacito’ to promote PR
August 16, 2017
The Puerto Rico Tourism Co. announced it will integrate the worldwide musical hit “Despacito,” by local artist Luis Fonsi, into upcoming initiatives to promote the island as a tourist destination.
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OBoard asks to hire advisory firm; top fee is $695/hr
August 15, 2017
The Financial Oversight and Management Board for Puerto Rico filed an application at the U.S. District Court to approve the hiring of Phoenix Management Services, LLC as financial advisor for the mediation team appointed in the Title III cases related to the Commonwealth’s bankruptcy proceedings.
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PREPA head airs laundry list of operational problems
August 15, 2017
The Executive Director of the Puerto Rico Electric Power Authority, Ricardo Ramos-Rodríguez, aired a laundry list of structural and operational problems plaguing the island’s main energy provider, while outlining plans to face the peak of this year’s hurricane season.
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SMEs can get up to $50K in marketing, export incentives
August 15, 2017
The Puerto Rico Industrial Development Company announced the start of sessions to inform small and mid-sized businesses getting agency assistance on the availability of special incentives to export and market their goods and services.
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Rosa Mexicano operator files Ch. 11, citing $3.6M in debt
August 10, 2017
Ocean Front Hospitality Group, owner of the Rosa Mexicano franchise in Puerto Rico, has filed for Chapter 11 bankruptcy protection, citing more than $3.6 million in debt, this media outlet learned Wednesday.
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Domino’s franchisee HFS Corp. closes all stores in PR
August 2, 2017
HFS Corp. — a franchisee for Domino’s Pizza in Puerto Rico — announced Wednesday the closing of nine stores on the island, after seeking bankruptcy protection earlier this year, this media outlet confirmed.
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Coopharma adopts software to boost patient services
August 2, 2017
PrescribeWellness, the cloud-based services company that seeks collaboration for better health, announced a partnership with the Puerto Rican cooperative of community pharmacies, Coopharma, which will be using its software solution to increase medication adherence, patient loyalty and health.
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Energy experts present plan for PR to Judge, OBoard
July 31, 2017
A group of professors and researchers of electric power systems presented their “collective and personal vision of a sustainable energy future for Puerto Rico” to Judge Laura Taylor-Swain, who is overseeing the island’s debt restructuring, and the Financial Oversight and Management Board for Puerto Rico.
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Coalition: ‘Critical’ for gov’t stats to remain independent
July 31, 2017
The Puerto Rico Private Sector Coalition stepped up in defense of the Puerto Rico Institute of Statistics over the weekend, claiming that it is “critical to have a body that ensures the independence and transparency of metrics and government statistics to provide complete, reliable, fast and universal data.”
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Cruise ship passengers up 10.6% at end of Fiscal ’17
July 31, 2017
Cruise ship passenger traffic at the Port of San Juan reflected a 10.6 percent increase at the end of Fiscal 2017, in comparison to the prior year, marking the second highest total in the last five years, government officials said.
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Popular reports $96.2M in 2Q17 income
July 27, 2017
Popular Inc. reported a net income of $96.2 million for the quarter ended June 30, 2017, up .08 percent compared to a net income of $88.9 million for the same year-ago quarter
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Execs named in auto, insurance, tourism industries
July 27, 2017
This edition of “Climbing the Corporate Ladder” reports on executive appointments in the automobile, insurance and tourism industries.
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Marazzi to stay at Statistics Institute; La Fortaleza balks
July 25, 2017
The Board of Directors of the Puerto Rico Institute of Statistics announced Monday the appointment of Mario Marazzi-Santiago as executive director for a second 10-year term.
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Doctors, restaurants lead Jan.-June bankruptcy petitions
July 24, 2017
During the first six months of the year, 17 medical doctors filed for bankruptcy protection, reporting more than $23.5 million in combined debt to the court, a report by research firm Boletín de Puerto Rico confirmed.
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Oriental: Uncertainty looms about PR debt restructuring
July 24, 2017
Upon releasing second quarter results, Oriental Financial Group President José Rafael Fernández said despite solid performance, there is a “great deal of uncertainty” moving forward about the economic impact from Puerto Rico’s fiscal restructuring.
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