Nearly six months after announcing its plans, GuideWell Mutual Holding Corp., parent of Blue Cross and Blue Shield of Florida Inc., has closed on its acquisition of Triple-S Management Corp. GuideWell acquired all outstanding shares of Triple-S Management common stock for $36 per share in cash. With the completion of the transaction, Triple-S is now […]
It’s a decade since the enactment of tax incentive rules for cryptocurrency investors in Puerto Rico and the influx of mainlanders setting up shop in town does not wane. As the boom for investors seeking capital gains relief builds up, resentment from activists gets more vocal. They complain the new crypto economy is not benefiting […]
Grupo Guayacán and Visa have created an alliance to provide specialized training and financial support to startups focused on in digital payment solutions and to accelerate the proliferation of local business projects in the dynamic financial technology and payment processing sector. Entrepreneurs in the sector known as “fintech” will benefit from the easy access that […]
Financial empowerment platform “Jefas y Jevas” was recently launched and seeks to help the financial development of women in Puerto Rico and the diaspora to increase the number of female millionaires. The concept includes a podcast, advice through social networks, mentoring workshops, training dynamics and support groups and it addresses business, entrepreneurship, and personal finance […]
The US Army Corps of Engineers and the Puerto Rico Ports Authority will begin laying the groundwork later this year for improved maritime infrastructure at the San Juan Harbor that will eventually help lower energy costs and better the area’s environmental quality. In an interview with News is my Business, Ports Authority Executive Director Joel […]
In Puerto Rico, 2022 is a promising year for national consumer goods, including well-known brands as well as recently launched ones. Six companies offer a variety of high-quality products worth looking at. 1. Viande FoodsViande Foods LLC focuses on consumers’ health and wellbeing by making locally inspired products, rich in nutrients and flavor. The company […]
The $8.26 billion in debt claimed by the Puerto Rico Electric Power Authority (PREPA) bondholders should not be borne by island ratepayers and small investors, IEEFA Director of Financial Analysis Tom Sanzillo said in testimony to the island’s legislature. Instead, Sanzillo told the Puerto Rico Senate Permanent Commission on Strategic Projects and Energy that reducing […]
Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $206.1 million for the fourth quarter ended Dec. 31, 2021, compared to net income of $176.3 million in the same period in 2020. The financial institution also reported net income of $934.9 million for the year 2021, compared to net income […]
Travel platform Expedia Group released its Expedia 2022 Travel Trends Report that showed, among other things that during the first 15 days of 2022, the market in Puerto Rico has shown growth in several areas. The overall search interest to travel to Puerto Rico is picking up with a +20% growth when compared to 2020, […]
As part of its 50th anniversary celebration, San Juan-based advertising agency Lopito, Ileana & Howie, announced the appointment of its new general manager, experienced publicist Alexandra “Alexa” Caraballo, who has also been a partner since 2018. The veteran publicist assumes her new executive role to which she brings more than 25 years of experience working […]
First BanCorp., parent company of First Bank, reported net income of $281 million for the year ended Dec. 31, 2021, compared to $102.3 million for the year ended Dec. 31, 2020. In an interview with News is my Business, First BanCorp. CEO Aurelio Alemán attributed the growth to the completion of the acquisition of Banco […]
By Víctor Rodríguez Velázquez | Center for Investigative Journalism Far from slowing the pace of construction on Puerto Rico’s coasts to address climate change, as experts have requested, Gov. Pedro Pierluisi’s administration hit the accelerator to approve construction permits along the coasts. During his first year in office, and well into the pandemic, approval of […]
Puerto Rico’s restaurant industry took a $398 million hit in sales during 2020, when COVID-19 restrictions were in full force, reaching $1.6 billion, a report released by Puerto Rico Restaurants Association (ASORE, in Spanish) showed. The 2020 results were 20% down from the $1.9 billion reported for 2019. The study also showed that in the […]
The Financial Stability Index for the Credit Union Industry in Puerto Rico, prepared by Estudios Técnicos Inc. (ETI), shows that conditions in this industry continued to improve in the third quarter of 2021. Economist Leslie Adames, director of ETI’S Economic Analysis and Policy Division, said “the index increased from 0.49 in the third quarter of […]
It’s written on the digital wall: Most major telecom companies are phasing out third-generation networks by February 2022. Network providers are shutting off 3G to repurpose the finite spectrum or the airwaves allotted by the Federal Communications Commission to send wireless signals. This means cell phones that rely solely on a 3G connection are most likely to end […]
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