DirecTV announced that AT&T and TPG Capital have closed on the agreement announced in February 2021 to establish DirecTV as a separate video company. Under this new company, DirecTV owns and operates the former AT&T US and Puerto Rico video business unit. With the new company, there will no change to the products and services […]
The Puerto Rico Department of Housing announced the opening of the Investment Portfolio for Growth Program (IPG), which is receiving applications to grant up to a maximum of $50 million in low-interest, long-term, partially forgivable loans. IPG has an allocation of $800 million in CDBG-DR recovery funds and is pursuing the island’s economic revitalization on […]
Business accelerator Startup.pr has opened a call for local innovators with technology-based projects to apply to the sixth edition of its Pre-Seeding Program by Aug. 8. Winning participants will receive training, prototype design consultancy services, and $5,000 each, said Amaury Malavé, Innovation and Technology Complex director. Six early-stage technology projects will be selected for this […]
It has been recommended many times but nothing is official. We see it happen practically all the time, all over the internet, and of course, its spinoff, the web. I’m talking about having a single use of an official language throughout our digital world. A lingua franca, a universal language that gives the web great […]
TransPerfect, a provider of language and technology solutions for global business, announced it will merge operations with Semantix, the Nordics’ largest provider of translation and interpretation services, through the acquisition of the group’s parent entity, Semantix International Group AB. The deal is said to be worth somewhere in the mid-$90 million, News is my Business […]
New research from Expedia Group reveals shifting views on travel, including positive sentiment on vaccine passports, increased budgets, and an enduring demand for safety and financial security. The Traveler Value Index examined the views of 8,000 people in eight countries to understand their values and expectations as the pandemic becomes more controlled in many parts of the world. “As […]
The Puerto Rico Treasury Department informed that net income shored up into Puerto Rico’s General Fund exceeded $1.4 billion in May, beating the government’s projections by $42.9 million. In a press release, agency Secretary Francisco Parés said the projected amount was $1.3 billion, representing a growth of 3.1%. “This projection is included in the new […]
The US Small Business Administration will launch a streamlined Paycheck Protection Program forgiveness application website to allow some 6.5 million borrowers with PPP loans of $150,000 or less to apply for forgiveness directly through the SBA, it announced. On Aug. 4, the site will begin accepting applications from borrowers that have a PPP loan with […]
Foundation for Puerto Rico (FPR) is moving ahead with its Bottom Up Destination Recovery Initiative to drive the island’s recovery based on a sustainable model that supports communities to become more resilient and proactive in the development of their social, natural and cultural assets. On Aug. 11, the program will present the destination plans created […]
A good investment climate offers opportunities for companies ranging from microenterprises to multinationals. Promoting a favorable investment climate allows them to invest productively, create jobs, attract new investments to the island, or expand operations, among other activities. The recent determination of Moody’s Investors Service to withdraw its ratings for the Government of Puerto Rico and […]
The US Department of Agriculture’s Food and Nutrition Service announced the release of $966.12 million in additional Nutritional Assistance Program (PAN, in Spanish) funds to help Puerto Rico residents “who are still struggling from the COVID-19 pandemic.” More than 1.5 million Puerto Rico residents — nearly half of the island’s population — participate in the […]
The U.S. Small Business Administration announced the availability of $300,000 for up to two new grant opportunities for established and aspiring Women’s Business Center (WBC) host organizations. When funded, the WBC’s will provide outcome-oriented business services for women entrepreneurs in Puerto Rico, the agency said. “The SBA’s Women’s Business Center program is a dedicated resource partner, and […]
The Federal Communications Commission (FCC) confirmed that 158,333 households in Puerto Rico have enrolled in the Emergency Broadband Benefit Program, joining some 4 million others across the US mainland. The $3.2 billion subsidy program initiated by Congress provides a temporary $50 to $75 discount on eligible households’ internet bills during the duration of the pandemic. […]
US Sen. Bob Menendez (D-N.J.), a senior member of the Senate Finance Committee, and Roger Wicker (R-Miss.) reintroduced the Territory Economic Development Tax Credit Act (TEDTCA), which would create a tax credit for wages and tangible investments made by US-based businesses in US territories. This bill will support job creation and help strengthen the US […]
Yabucoa-based Chemical Solutions, LLC acquired the rights to manufacture in Puerto Rico hypochlorous acid, an organic, water-based disinfectant that combats virus and bacteria, and is 99% effective, company officials announced. After months of negotiations and through a $1.1 million investment, this new manufacturing line will catapult Chemical Solutions into the international market, making it the […]
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