The DRS Group buys Pro Image Corp., seeks to break into 3 more markets
July 18, 2011
Document scanning, imaging and conversion company The DRS Group recently expanded its footprint into Puerto Rico, with the acquisition of Pro Image Corporation, for an undisclosed amount.
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CNE: Treasury’s revenue collections estimates no sign of economic improvement
July 15, 2011
The Treasury Department’s preliminary year-end General Fund report released Wednesday showing an uptick in revenue collections may not necessarily be a sign of real economic improvement, the Center for the New Economy said Thursday upon analyzing the results.
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Housing Stimulus program moves 12,491 dwellings representing $2.1B in sales
July 12, 2011
Puerto Rico home sales generated during the first 10 months of the government’s Housing Stimulus 2011 program reached 12,491 new and existing units, reflecting an increase in activity of 37.5 percent compared with the same period in 2010, the Puerto Rico Housing Finance Authority officials said Tuesday.
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Bankruptcies down 15% in June
July 1, 2011
Island bankruptcy cases for the month of June were down 15 percent, with personal cases filing the most marked drops, a preliminary tally from Boletín de Puerto Rico released Friday showed.
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Netflix on-demand video streaming available in P.R.
July 1, 2011
Twelve years after launching its on-demand video streaming service in the U.S. mainland and Canada, Netflix Inc. has finally included Puerto Rico in its footprint, opening the door for thousands of island residents wanting to subscribe to the service directly or via their video game devices.
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DirecTV earmarks $13M for projects, upgrades
June 28, 2011
Satellite television provider DirecTV is wrapping up its 12th year of operations on the island with a $13 million investment in new projects slated through the end of 2011.
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Planning Board: Exports up 10.2% in first 8 months of Fiscal ’11
June 27, 2011
Puerto Rico's exports during the first eight months of fiscal 2011 increased by 10.2 percent to more than $50 million, from the $45.4 million on record for fiscal 2010, according to the latest figures released by the Puerto Rico Planning Board.
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Claro parent company facing $16K FCC fine for violating foreign ownership rules
June 24, 2011
Mexican telecom giant América Móvil, parent of local incumbent carrier Puerto Rico Telephone (which does business as Claro), is in hot water with the Federal Communications Commission for violating indirect foreign ownership rules after issuing stock that increased owner Carlos Slim and his family’s corporate stronghold.
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2 local tech companies win top Microsoft Corp. honors
June 23, 2011
Two local companies beat out about 3,000 competitors around the world to nab the distinction of being named Microsoft Partners of the Year, the software giant announced Wednesday.
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OneLink’s video service rate increasing July 1
June 21, 2011
OneLink Communications, the San Juan metropolitan area’s only cable television service provider, will be increasing its video service rate by $2.50 cents effective July 1, which for certain customers can represent a hike of close to 5 percent.
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Claro launches waterproof, eco-friendly smartphones
June 17, 2011
It’s no secret that most smartphones are robust in service, but often weak when it comes to enduring drops, water and on this tropical island, exposure to sand. To address all of those external challenges, Motorola and Claro teamed up to introduce to market the first mobile device capable of standing up to all them.
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Internet Society hosts visit by eminent intellectual property mediator
June 13, 2011
M. Scott Donahey, who for more than two decades has professionally mediated in Internet- and technology-related intellectual property disputes, will be on the island this week to offer a conference sponsored by the Internet Society of Puerto Rico.
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Jobless rate reaches 16.2% in April, dipping slightly year-over-year
June 10, 2011
The island’s persistently high unemployment rate dropped slightly to 16.2 percent in April, representing a 0.7 percentage point reduction from the 16.9 percent rate on record for the same month last year. When compared to March 2010, the current rate is also down, by 0.6 percentage points, Labor Department statistics released Thursday revealed.
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Microsoft’s P.R. operations pull double-duty, serve as ‘tax shelter’
June 7, 2011
Software giant Microsoft has reportedly been using three jurisdictions where it operates outside the United States — Puerto Rico, Ireland and Singapore — as tax shelters to reduce its federal tax bill, the Financial Times reported.
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HFA bond portfolios maintain “AAA” rating, get Fitch stable outlook forecast
June 3, 2011
New York-based credit ratings agency Fitch Ratings affirmed Friday its “AAA” rating on the Puerto Rico Housing Finance Authority’s $191 million mortgage subsidy program single family mortgage revenue bonds.
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