The Puerto Rico Chamber of Commerce (CofC, in Spanish) asked the government — both the Executive and Legislative branches — the schedule to begin “executing” to move from recovery to economic growth, said Luis Gierbolini, president of the private sector trade group. In his statement, Gierbolini said Puerto Rico must move to resolve the issues […]
A team of researchers at the University of Puerto Rico Cayey Campus recently released the findings of a study that probes the challenges that policymakers face during a pandemic — in this case COVID-19 — regarding the fiscal and human costs associated with different mitigation measures. The research entitled “Balancing fiscal and mortality impact of […]
Monllor Capital Partners LLC announced that the Puerto Rico Opportunity Zone Fund, LP private equity fund has made an undisclosed investment in Mayagüez-based Fusion Farms, a vertical indoor aquaponic farm developer and operator. The Puerto Rico Opportunity Zone Fund (PROZ) is reportedly the first private equity firm fund focused on Environmental, Social, and Governance (ESG) […]
The US Department of Treasury and the IRS released the final regulations related to the Foreign Tax Credit under Act 154, which grants an additional transition year to taxpayers who currently pay under that tax system, Puerto Rico Treasury Secretary Francisco Parés confirmed. “The provisions in the regulations, regarding Puerto Rico, are the product of […]
While the Federal Emergency Management Agency (FEMA) maintained a fast-paced obligation of funds last year, construction work leads the way toward the revitalization of many communities throughout the island, the agency said. To date, FEMA has allocated more than $25.7 billion in federal funds, of which more than $19 billion are for permanent work. Hundreds of projects […]
The Puerto Rico Association of Small Inn Owners and Tourism are expecting challenges in 2022, for which they will try to encourage a greater movement of non-resident travelers to the regions outside of San Juan and increase the presence of the group and convention segment in the Porta del Sol and Porta Caribe. “This year […]
Now that 2021 is the year that was…it was, as usual, one with many high-tech advances. Breakthroughs in digital science were not the least deterred by the cataclysmic events of these past year. So, what flows next? There are already clear insights on the horizon of technological developments for 2022 and beyond as applied to […]
Puerto Rico is among 30 jurisdictions that is exploring the possibility of adopting technology giant Apple’s digital ID feature, which would allow citizens to add their driver’s license or state ID to their iPhone’s digital Wallet application. The feature could go live early next year. The ID stored in the Wallet app could be used […]
The Airbnb short-term rental platform confirmed that two hosts in Puerto Rico stood out among the list of hosts who in 2021, during the COVID-19 pandemic innovated and provided better hospitality and boosted safety and hygiene protocols to guarantee comfort and well-being for their guests. Airbnb took on the task of finding the most prominent […]
The Oracle of Ohama Warren Buffet cleverly stated some words that will live forever “Despite some severe interruptions, our country’s economic progress has been breathtaking. Our unwavering conclusion: “Never bet against America.” This statement was part of Berkshire Hathaway’s annual report letter written by Mr. Buffet that has become a yearly event. With the mantra […]
Braemar Hotels & Resorts, a real estate investment trust (REIT) focused on investing in luxury hotels and resorts, announced it has entered into a definitive agreement to acquire the 96-room Dorado Beach, a Ritz-Carlton Reserve in Dorado, for $186.6 million. The purchase price represents $1.7 million per key, including 14 luxury residences adjacent to the hotel […]
The US Department of Transportation announced it has awarded the Puerto Rico Ports Authority a $10 million grant to fund the reconstruction of the Tender Pier and Dock B in the Pier 15 area in Old San Juan. US Department of Transportation Secretary Pete Buttigieg announced the award of more than $241 million in discretionary […]
Vimenti — a Boys and Girls Club program originated in Santurce in 2018 — has established empowerment and job programs that have helped 7 out of 10 of its participants to find jobs in several areas, its Executive Director Bárbara Rivera, confirmed. The nonprofit created the “Empleabilidad y Carreras” program that helps people get jobs […]
After a year of stabilization in the labor market and some economic sectors’ recovery following the dislocation caused by the COVID-19 pandemic, it is possible to expect a moderate economic growth of 2.0% by the end of fiscal year 2022, according to economic analysis firm Estudios Técnicos Inc. “The favorable performance of the Puerto Rico […]
The COVID-19 pandemic is being blamed for an increase of 2916% of identity theft reports filed in the US and Puerto Rico, mostly related to government benefits, credit cards and online sales, statistics from the Federal Trade Commission and Debt.com show. Debt.com’s data shows that 46% of people whose identity was stolen was related to […]
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