The Financial Oversight and Management Board for Puerto Rico today presented the 2020 Fiscal Plan for the Commonwealth of Puerto Rico for certification, which calls for, among other actions, a one-year delay in most government rightsizing activity to allow it to focus on structural reforms and efficiency measures. The document will be up for the […]
Liberty Latin America Ltd. announced that its subsidiary, Liberty Puerto Rico has issued $90 million in senior secured notes to support the funding needed for its acquisition of AT&T Puerto Rico’s assets on the island and the U.S. Virgin Islands. The sale of additional 6.75% Senior Secured Notes due 2027 was executed on a private […]
DDB Latina Puerto Rico and Buena Vibra Group announce the creation of the SPYN.LIVE platform, a digital tool that will change the entertainment industry. SPYN.LIVE will allow the consumer to live the experience of a virtual concert that will feature the traditional elements of face-to-face shows such as lights, screens, pyrotechnics, dancers and musicians, among […]
The economic crisis Puerto Rico is facing while in the grip of the COVID-19 pandemic requires forceful action on the part of the government and Financial Oversight and Management Board for Puerto Rico, according to nonprofit Espacios Abiertos. “When we analyze the international context and Puerto Rico’s situation in light of the economic projections contained […]
Liberty Puerto Rico reported $105 million in revenue, representing a 3% growth during the first quarter of 2020 compared to the same period in 2019. The company added some 9,000 customers to its broadband division in the recent three-month term. Liberty Latin America CEO Balan Nair said during an earnings call with analysts that the […]
The COVID-19 pandemic that brought most of Puerto Rico’s economic activity to a screeching halt in mid-March has created a very specific niche for industrial warehouse operators, which are providing much-needed square footage to emergency response companies. Demand for short-term leases — from three months to a year — for warehouse space to store specific […]
The Puerto Rico Chapter of the Associated General Contractors of America (AGCPR) described the reactivation of the island’s construction industry and the 26,000 jobs it represents on May 11 as “a positive step.” “Reopening the construction sector is an affirmative and important step to achieve the necessary balance between the health and economic wellbeing of […]
The U.S. Department of Commerce’s Economic Development Administration is awarding a $13 million grant to the University of Puerto Rico in Ponce to establish a disaster resilient research and business facility to support high-growth businesses focused on the health and medical tourism industries. The EDA grant, to be located in a Tax Cuts and Jobs […]
Puerto Rico’s telecommunications industry is ready to operate at its “maximum capacity,” taking the necessary measures to preserve the health and safety of its customers and employees, Felipe Hernández, president of the Puerto Rican Telecommunications Alliance said. The executive stressed that the sector is “not only important for consumers, but is also a fundamental pillar […]
Puerto Rico residents can now find COVID-19 testing locations in Puerto Rico through the Apple Maps database, which has been extended throughout the U.S. mainland and the island, tech giant Apple announced. A few weeks ago, the company released a mobility data trends tool for Apple Maps “to support the impactful work happening around the […]
The Federal Communications Commission handed down notices against two local companies — WiFi Services Caribbean Inc. and Buzzer Net LLC — which face a $25,000 fine each for operating networks that violate the integrity of the Federal Aviation Administration’s doppler radar in San Juan. In separate notices, the federal telecom regulator described the reasons for […]
The Robot Makers program is back for its fourth edition, featuring a new virtual format to train 116 middle and high school teachers as well as college professors, Department of Economic Development and Commerce Secretary Manuel Laboy announced. “Like all projects being developed in the midst of the emergency due to the spread of COVID-19, […]
The local financial sector “failed miserably in Puerto Rico’s hour of need” by not helping to close more loans and secure aid for the island’s small business sector through the Paycheck Protection Program, the Center for a New Economy concluded in an analysis of the effects of the federal initiative. The island failed to take […]
Liberty Puerto Rico announced it has opened access to more channels for clients to access free of charge during the COVID-19 lockdown. Liberty’s television subscribers will have access to The Weather Channel until June 13, plus all of HBO and Cinemax’s premium channels from April 17-20, regardless of the bundles they are subscribed to. Additionally, […]
Wireless carrier T-Mobile has opened a limited number of locations to be able to offer additional service to customers in Puerto Rico, following government guidelines. The company has taken a series of “strict hygiene measures to ensure the safety of its employees and the customers who visit these locations, which will only be served by […]
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