Puerto Rico’s Economic Activity Index (EAI) for September 2021 reached a maximum level of 120.3 points, representing a year-on-year increase of 2.7%, according to the Puerto Rico Economic Development Bank’s Center for Economic Studies. “This is the seventh year-on-year increase after 12 consecutive reductions. If compared to the previous month, the EDB-EAI’s growth rate rose […]
As cybercriminals become more audacious, a small business must counter the new danger by paying more attention to the different types of cyberattacks that bring loss and frustration to any entrepreneur. Cyberattacks have gone up in Latin America by 24%, since last year, as compared with 2020, according to the Kaspersky digital security platform. Such […]
The Puerto Rico Gaming Commission has begun to receive applications from those interested in being online sports betting operators in Puerto Rico, agency Executive Director Orlando Rivera confirmed. Those interested in getting authorization to process bets through electronic platforms will find information on the procedure on the commission’s website, which includes the forms and documents […]
The Puerto Rico Ports Authority announced the start of a bidding cycle to perform improvements to the security equipment and systems at the San Juan Bay cruise ship docks to boost electronic security at the docks in that area, agency Executive Director Joel Pizá said. The budget for this project totals $2 million, which includes […]
The US Department of Labor announced a final rule that implements Executive Order 14026 to increase the hourly minimum wage for employees on federal contracts starting Jan. 30, 2022. President Biden signed the order on April 27, 2021. The order is expected to benefit between 10,000 and 12,000 federal workers and contractors in Puerto Rico, […]
The U.S. Small Business Administration has approved more than 28,000 loans to businesses in Puerto Rico and the US Virgin Islands exceeding $2 billion through its COVID Economic Injury Disaster Loan (EIDL) program, it announced. When broken down, Puerto Rico-based small businesses have been approved for 26,751 loans, worth $2 billion, while the USVI has […]
The US Department of Agriculture has awarded the northern coastal town of Toa Baja nearly $3.4 million to build and improve critical community facilities through its Community Facilities Direct Loan and Grant Program, the agency announced. The agency awarded a global amount of $222 million in 44 states, Guam, Northern Mariana Island and Puerto Rico. […]
Puerto Rico’s standing in the 2020 edition of the Economic Freedom Index did not reflect drastic changes, increasing just oane point to 64.4 in 2020 vs. 64.4 in 2019. This ranks the island in 69th place among 181 countries worldwide, and in 13th place among 33 countries in the Americas. The US mainland ranks 17 […]
Puerto Rico has been assigned $5.3 million to hire more law enforcement professionals and beef up security in five towns, W. Stephen Muldrow, US Attorney for the District of Puerto Rico, announced. The allocation is included in a global $139 million in grant funding through the US Department of Justice’s Office of Community Oriented Policing […]
This edition of Climbing the Corporate Ladder includes new executive appointments in a cross-section of industries in Puerto Rico. EPA appoints Lisa García as regional administrator for Region 2US Environmental Protection Agency (EPA) Administrator Michael S. Regan announced that President Biden will appoint Lisa García to become EPA’s Regional Administrator for Region 2. García will […]
Out-of-stock, higher pricing, empty shelves, longer shipping times, rising shipping costs, and labor shortages, and now the Christmas season is adding the Black Friday specials. All these issues act in tandem, impacting the once stable producer/consumer relationships into a twilight zone. The preferred response by most is that the Global Supply Chain is both weak […]
Miami-based Grand Havana Cafe announced it has entered negotiations with AM:PM City Market Corp. to acquire its business portfolio in Puerto Rico, which includes locations in Isla Verde and Hato Rey. After the closing — expected to happen during the first semester of 2022 — the shops will be converted into Grand Havana Cafes, company […]
The Center for a New Economy (CNE) is incorporating the topic of higher or post-secondary education in its work agenda, for which it has added an expert who in an analysis concluded, among other things, that higher learning in Puerto Rico cannot be tied to election cycles. In her first analysis for the think-tank, titled […]
The Federal Emergency Management Agency (FEMA) allocated more than $24.4 million during October and November to repair and reinforce several schools in Puerto Rico’s southern and western regions that experienced structural damage caused by the 2020 earthquakes. To date, more than $142 million has been obligated to the Puerto Rico Education Department for 115 permanent […]
Hotel room reservations for the week that covers the end of 2021 are 41% higher than those registered for that same time in 2019, according to data from TravelClick, cited by Discover Puerto Rico. This increase coincides with when Puerto Rico will host Dick Clark’s New Year’s Rockin’ Eve, an event that will expose the […]
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