Puerto Rico towns given access to $150M federal funds program
November 10, 2021
The Coronavirus Local Fiscal Recovery Fund, a $150 million pool of funds assigned through the American Rescue Plan Act (ARPA) of 2021, is officially open for all 78 Puerto Rico mayors who may dip into it upon signing an agreement with the Fiscal Agency and Financial Advisory Authority (AAFAF, in Spanish), Gov. Pedro Pierluisi announced. […]
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Practical Techie: Meta, Facebook’s metaverse proposal has many scratching their heads
November 10, 2021
Facebook, the beleaguered social media platform is up to new devices with a revamped branding it calls Meta and an offshoot enterprise described as FB metaverse, or its multiple reality web. So, what is CEO Mark Zuckerberg up to now? Facebook defines its proposed metaverse as “a set of virtual spaces where you can create […]
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USDA grants $421K for economic dev’t in towns of Barceloneta, Naguabo
November 9, 2021
The US Department of Agriculture is awarding $421,295 to the towns of Barceloneta and Naguabo, to provide placemaking and planning assistance to help improve social, cultural, and economic structures for people living in rural communities. The agency is making the awards under its Rural Placemaking Innovation Challenge (RPIC) and in Puerto Rico, it partnered with […]
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SBA Associate Admin. kicks off Entrepreneurship Week in Puerto Rico
November 9, 2021
US Small Business Administration Associate Administrator Bibi Hidalgo, head of the federal agency’s Office of Government Contracting & Business Development, is visiting Puerto Rico early this week, the agency announced. Her visit is part of a national tour highlighting the United States’ economic recovery focused on boosting manufacturing, engaging socially and economically disadvantaged businesses on […]
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1st Macy’s Backstage on the island opens at Plaza Las Américas
November 8, 2021
Plaza Las Américas and Macy’s Backstage announced the upcoming opening of the first Macy’s Backstage store in Puerto Rico, on Nov. 20, in time for the busy holiday shopping season. Macy’s on-mall, off-price pop-up store will be located on the second level of the space previously occupied by Borders and will have approximately 14,000 square […]
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PRASA opens bid for 11 infrastructure projects worth $176M
November 8, 2021
The Puerto Rico Aqueduct and Sewer Authority (PRASA) will open bids for 11 infrastructure projects in December, whose total investment approaches $176 million, government officials said. The list of projects includes improvements to the raw water intake located in the Río Grande de Añasco, the completion of the rehabilitation of the Cidra dam, the design […]
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ICANN scraps in-person conference planned for March ’22 in Puerto Rico
November 8, 2021
The Internet Corporation for Assigned Names and Numbers (ICANN) announced that it will no longer hold its in-person ICANN73 convention in Puerto Rico on Mar. 5-10, 2022, going virtual instead, citing “continuing impacts of the COVID-19 pandemic.” The ICANN Board of Directors — which first announced plans to come to the island in 2019 — […]
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Triple-S Management Corp. reports $8.2M in 3Q21 net income
November 8, 2021
Healthcare services company Triple-S Management Corp. announced net income of $8.2 million, or $0.35 per diluted share, for the third quarter ended Sept. 30, compared with $23.6 million, or $1.02 per diluted share, in the prior year period. Adjusted net income stood at $9.6 million, or $0.41 per diluted share, during the most current quarter, versus $14.2 million, or $0.61 per diluted share, in the period in […]
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Puerto Rican boxer Trinidad, father, sue Popular Inc. for $175M
November 5, 2021
Puerto Rican boxer Félix “Tito” Trinidad-García and his father, Juan Félix Trinidad-Rodríguez, are suing Popular Inc. — parent company of Banco Popular de Puerto Rico — for no less than $175 million in damages. In the lawsuit filed in the US District Court for the District of Puerto Rico, the Trinidads are “seeking fair and […]
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Discover Puerto Rico to spend $50M in federal funds to market island
November 5, 2021
Discover Puerto Rico, the island’s Destination Marketing Organization (DMO), will use $50 million in American Rescue Plan Act funds (ARPA) during 2022 and 2023 to expand the marketing campaign throughout the US mainland and boost promotions beyond the already developed international markets. Discover Puerto Rico Chief Marketing Officer Leah Chandler confirmed the information during a […]
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Colombia’s Viva Air gets OK to fly to Luis Muñoz Marín International Airport International Airport
November 5, 2021
Viva Air, Colombia’s low-cost carrier that is part of Grupo Viva, has received the go-ahead from the country’s aviation authority to begin flying from Bogotá and Medellín to the Luis Muñoz Marín International Airport (LMM) in Carolina. As News is my Business first reported late last month, the two direct routes were part of a […]
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Liberty Puerto Rico reports $359M in 3Q21 revenue
November 4, 2021
Liberty Puerto Rico is still reporting positive results from its acquisition of AT&T Puerto Rico’s assets, which nearly tripled its revenues to $359 million during the third quarter ended Sept. 30, when compared to the $114.4 million for the same year-ago period. The report shows that Liberty Puerto Rico’s revenue grew by 214% and 2% […]
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CNE estimates damage to unrepaired homes in Puerto Rico post-hurricanes at $11.8B
November 4, 2021
The Center for a New Economy’s (CNE) Blueprint initiative presented a digital platform that helps identify and monitor the extent to which Puerto Rican families and households have been able to overcome the damages to their homes after Hurricanes Irma and María. Official government reports indicate that about a third of the housing units in […]
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Vieques Sustainable Economic Dev’t Council presents multi-action plan
November 4, 2021
The Vieques Sustainable Economic Development Council — created earlier this year to move the economy of the island municipality forward — presented to Gov. Pedro Pierluisi a multi-strategy plan to develop tourism, jobs, improve transportation, health, infrastructure, energy, security, education, and special projects. One of the steps taken by the Council is to recommend that […]
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Puerto Rico Cocktail Week features agenda for cocktail lovers
November 4, 2021
The third edition of Puerto Rico Coctail week, planned for Nov. 14-20 at the La Concha Resort hotel in Condado will feature a dozen educational workshops for hospitality industry professionals and cocktails lovers, as well as social activities to present new products on the market and highlight popular cocktails, organizers said. The activities will feature […]
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