The Puerto Rico Police Members Association (AMPPR, in Spanish), in partnership with Orchid Funding LLC, announced the launch of a new lending program for its members, public employees, and pensioners. In anticipation of the lending platform’s launch, AMPPR and Orchid closed a $25 million credit facility with Celeres Capital Advisors LLC, Medalist Partners LP, and […]
The U.S. Small Business Administration provided an update on the progress of its Shuttered Venue Operator program, confirming that as of July 26, it has approved 28 awards in Puerto Rico amounting to a little more than $4.2 million. The agency also confirmed it awarded one SVOG grant for $92,956 to a program participant in […]
The Puerto Rico Housing Department recently awarded global consulting and digital services provider ICF a $13 million contract amendment to expand the implementation of the agency’s Single Family Rehabilitation, Reconstruction & Relocation Program (R3). The contract for this work currently runs through summer 2022, ICF confirmed. R3 is a Community Development Block Grant Disaster Recovery […]
Uber Eats announced it is expanding beyond food deliveries by integrating a greater variety of businesses in its platform. Currently, users can find in the app stores such as the virtual supermarkets Jetson and La Comprita, and even convenience stores such as 24 Market. “As a technology company, continuous innovation is part of Uber Eats’ […]
First BanCorp, the parent company of FirstBank Puerto Rico, reported net income of $70.6 million, or $0.33 per diluted share, for the second quarter of 2021, up 231% from the $21.3 million, or $0.09 per diluted share on record for the same year-ago quarter. The quarter includes a net benefit of $26.2 million recorded to […]
The Luis Muñoz Marín International Airport (LMM) posted the strongest recovery related to passenger traffic, exceeding second quarter 2019 levels by 10% driven by a high double-digit increase in domestic traffic, which more than offset a weaker international performance, Adolfo Castro-Rivas, CEO of Grupo Aeroportuario del Sureste, confirmed The Mexican firm, known as ASUR, is […]
Electronic commerce was already on an upward trend, but it grew exponentially in the last year — by 300% in 2020, based on changes in consumer buying habits and the challenges faced by the markets. In the business segment, digital channels such as video conferencing and live chat have emerged as the predominant means for […]
Popular Inc., parent company of Banco Popular de Puerto Rico, reported $218.1 million in net income for the second quarter ended June 30, 2021, compared to the $127.6 million on record for the same period in 2020, representing $90.5M in year-over-year growth. The most recent figure compares to $262.6 million in net income reported for […]
Ángel L. Pérez, a well-known entrepreneur and vice president of Rock Solid, recently resigned from his post after 20 years at the San Juan-based software engineering company, News is my Business learned exclusively. Pérez, who officially stepped down on June 24, will stay involved with the company as shareholder. He will also remain as an […]
The Federal Emergency Management Agency (FEMA) announced the approval of nearly $90 million in low-interest Community Disaster Loans, known as CDLs, to assist the municipalities affected by the 2020 earthquakes in their long-term recovery. Twenty-five municipalities in the south, center and west of the island benefitted from this federal assistance, which ended on June 30. […]
The US District Court for Puerto Rico approved a $25 million settlement in Puerto Rico’s favor as part of a lawsuit the Commonwealth filed more than a decade ago against ExxonMobil Corp. and Esso Standard Oil Co. claiming the companies contaminated the island’s groundwater. The Commonwealth of Puerto Rico, through the Environmental Quality Board, filed […]
OFG Bancorp, the parent company for Oriental Bank, reported results for the second quarter ended June 30, 2021, that revealed diluted earnings per share of $0.78 compared to $0.56 in first quarter of 2021 and $0.39 in 2Q20. Total core revenues were $133.3 million compared to $127.7 million in first quarter of 2021 and $128.2 […]
The Puerto Rico Vector Control Unit (PRVCU) sponsored by the International Rotary Club and the Rotary Club of San Juan, and in collaboration with the Municipality of Culebra, announced it will begin a project to control the Aedes aegypti mosquito through a variety of community efforts. The initiative aims to control mosquitoes and prevent epidemics caused by the […]
Moody’s Investors Service announced it has withdrawn the general obligation and related ratings of the Commonwealth of Puerto Rico, citing only “business reasons,” for pulling out. The decision to no longer provide ratings includes those assigned to the Puerto Rico Aqueduct & Sewer Authority, the Puerto Rico Electric Power Authority, and the University of Puerto […]
Fenwal International Inc., a Fresenius Kabi company, announced plans to expand its campus in San Germán, where it plans to consolidate its manufacture of sterile product bags, accessories assembly, and filling operation of saline solution and anticoagulants. The company estimates that it will make a full investment in San Germán of about $34 million to […]
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA