P.R. scores 61 in ‘Economic Freedom Index,’ reflecting somewhat limited growth
March 26, 2019
Puerto Rico’s economic freedom is somewhat limited, scoring 61 out of 100 points in the Economic Freedom Index (EFI) Report for 2018, unveiled by the Center for Economic Renewal, Growth and Excellence. As a result, its potential for economic growth is being affected by a challenging business climate, high taxes and recurring fiscal deficits. Such […]
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CNE’s Black Start Summit gathers leaders to rethink island’s outdated energy model
March 22, 2019
The Center for a New Economy, which has analyzed Puerto Rico’s energy sector for 15 years, convened local and international leaders to rethink the island’s outdated energy model and define a new vision for a sustainable energy future during its “Black Start: The Future of Energy Summit” at the Puerto Rico Convention Center in San […]
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P.R. population not displaced by hurricanes for now — It’s the economy, study says
March 21, 2019
People invested in Puerto Rico’s long-term disaster recovery efforts face many obstacles, including — but not limited to — debt, recession, stronger hurricanes, utilities, and sovereignty. All these challenges require robust, independent, and trustworthy socio-economic data to lay the foundation for successful private investment and public policy, according to a paper written by a team […]
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Moody’s: P.R. and its banks will benefit from federal economic analysis
March 13, 2019
The reason for the positive outlook is that Moody’s believes federal estimates of the island’s Gross Domestic Product “will bolster reforms by the island that should encourage unbanked residents to participate in the banking system, thereby spurring loan growth and increasing operating margins.” In its report, Moody’s predicted that the banks that will benefit are […]
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Cisco Systems to invest $130M to drive tech, network projects in P.R.
February 27, 2019
Information systems and internet company Cisco Systems announced at the Mobile World Congress 2019 held in Barcelona that Puerto Rico is among the three jurisdictions selected in the Americas to advance transformation and technological acceleration projects. Telecommunications Bureau President Sandra Torres and Chief of Staff Ricardo Llerandi were present during the announcement during the congress. […]
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CNE holds seminar for journalists as preamble to ‘Black Start: Future of Energy Summit’
February 25, 2019
Journalists from different media outlets in Puerto Rico participated in a seminar hosted by the Center for a New Economy (CNE) on the concepts and changing language used in the media coverage of the energy sector. The activity was designed in response to the abundant media coverage on the direction of the transition of the […]
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Liberty Puerto Rico adds 31K clients in Q418
February 22, 2019
Liberty Puerto Rico added 31,000 revenue generating units (RGUs), or clients during the fourth quarter of 2018, and reported a 5 percent revenue growth for the entire Fiscal Year 2018, according to its most recent financial results. The results were driven in part by the company’s focus on providing products and services that represent a […]
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T-Mobile grows P.R. client base by 15% in ’18, continues 600MHz deployment
February 14, 2019
T-Mobile announced its financial reports for the final quarter and full year 2018, along with its performance on a local operational level for the past year, which resulted in a 15 percent year-over-year growth of its customer base. Jorge Martel, general manager for T-Mobile Puerto Rico, said the carrier’s growth sharply contrasts the performance of […]
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P.R.’s changing economic landscape has forced banks to retrench
February 11, 2019
Puerto Rico’s changing economic landscape will prompt banks to keep a tight grip on their activites until risks recede, an analysis by H. Calero Consulting firm concluded. The “retrenching,” as the firm called it, will likely lead banks to remain a “passive sector, one that, in the future, stands to react rather than lead the […]
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Estudios Técnicos: Reconstruction funds to drive 4.2% economic growth in ’20
February 11, 2019
The release of $1.5 billion in post-Hurricane María CDBG-DR reconstruction funds will spur a positive momentum in Puerto Rico’s economy, which should grow by 4.2 percent in fiscal year 2020, and will remain positive until 2022, according to new estimates by Estudios Técnicos Inc. “This week the [U.S.] Department of Housing announced the release of […]
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Liberty observes ‘Safer Internet Day’ for 12th year in a row
February 4, 2019
For the 12th year in a row, Liberty Puerto Rico will celebrate “Safer Internet Day” to highlight the importance of using the internet responsibly and safely, as part of its corporate social responsibility campaign “Navega con seguridad,” with several resources to help the public navigate the web safely. The event will be observed worldwide on […]
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Caribbean leaders: ‘We’re still split between Elizabeth and Isabela’
January 31, 2019
Some of the most prominent Caribbean leaders who participated in the Clinton Foundation’s two-day gathering in San Juan Wednesday agreed that the region is grossly divided, “still split between Elizabeth and Isabela.” With that, they supported their arguments that the region needs to come together more cohesively — be them U.S. mainland, French, Dutch or […]
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Liberty P.R. to increase rates on current plans effective Feb. 1
January 24, 2019
Liberty Puerto Rico will increase rates on current television and internet packages effective Feb. 1, the company announced in a notice sent to customers. However, clients choosing to switch to new plans that Liberty began offering late last year will not experience rate changes for the rest of 2019. “As part of our commitment to […]
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Economic Activity Index up 21.5% in Nov. 2018 vs. same year-ago month
January 24, 2019
Puerto Rico’s Economic Activity Index showed a 21.5 percent year-over-year growth in November 2018, the government announced. The EAI-PR released by the Puerto Rico Economic Development Bank reached a level of 120.3 in November 2018, showing a decrease of 0.1 percent compared to October 2018. The most recent results mark the third consecutive increase after […]
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Liberty LatAm settles $108.5M in hurricane-related insurance claims
January 18, 2019
Liberty Latin America has reached a settlement agreement with its third-party insurance provider for $108.5 million in net damages related to Hurricanes Irma and María last year, the company confirmed. The gross amount agreed to in December 2018 totaled $138.5 million, but Liberty deducted $30 million in self-insurance from the total amount. “We have received […]
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