This edition of Climbing the Corporate ladder features executive appointments in several industries, namely banking, a ride-share company and an accounting firm. FirstBank announces trio of new executivesFirstBank CEO Aurelio Alemán announced the following appointments to the institution’s executive group: Sara Álvarez, as executive vice president and general counsel; Juan Carlos Pavía, as executive vice […]
Hewlett Packard Enterprise (HPE) has been granted an exemption from the government of Puerto Rico covering the production, sale, and operation of Highly Efficient Energy, including combined heat and power systems operated by liquefied natural gas (LNG) or renewable liquified natural gas (RLNG), on a commercial scale. This incentive has been granted as an investment […]
The Federal Emergency Management Agency (FEMA) awarded nearly $5 million for construction work at three water distribution and control facilities in Puerto Rico. This obligation will repair 12 land irrigation pumps in Santa Isabel and a flood control channel in Culebra, the agency confirmed. “These projects address issues of vital importance related to the safety […]
AZ Foods, a distribution company responsible for bringing healthy products from different parts of the world to Puerto Rico, is looking to expand its business model to help local small businesses improve their reach. “We’re a Puerto Rican company that always wants to distribute the healthiest foods and we believe that with each product we […]
The US Department of the Treasury today announced the allocation of $47.3 million in relief funds to 27 Puerto Rico-based credit unions, through its CDFI Rapid Response Program (CDFI RRP). The goal is to provide necessary capital for community development financial institutions (CDFIs) to respond to economic challenges created by the COVID-19 pandemic, particularly in […]
Popular Inc. announced that, upon completion of the second round of the Paycheck Protection Program (PPP) on May 31, 2021, it had processed nearly 50,000 loans, originating $2.1 billion in both rounds of the program. Popular said during the second PPP round, which began on Jan. 19, it processed approximately 20,500 loans totaling $673 million […]
The Puerto Rico Industrial Development Company (PRIDCO, in Spanish) has been assigned $93 million from the Federal Emergency Management Agency (FEMA) to begin reconstruction and revitalization of commercial properties affected after the passage of Hurricanes Irma and María in 2017. PRIDCO Executive Director Javier Bayón-Torres said the allocation will benefit 54 mandatory projects throughout the […]
The Luis Muñoz Marín International Airport (LMM) will receive $9.4 million from the US Department of Transportation’s Federal Aviation Administration (FAA) to reconstruct its main runway. The allocation is part of a round of awards of more than $898.9 million in infrastructure and safety projects through the FY2021 Airport Improvement Program (AIP). This total includes $113.5 million […]
Father’s Day is observed in the US, Canada, United Kingdom, and other countries of the western world as a sequel to the celebration of mothers, a month before. This a day to pay homage to fatherhood, which is always on the third Sunday of June. The year 2020 gave humanity ample experience in virtuality ad […]
When ToroVerde was inaugurated in May 2010, many doubted it would be a success. And as it grew from idea to reality, we had to hear many “No’s.” But each one gave us more strength to continue and to overcome these challenges. Some of the negativity was understandable. Our adventure park is in the mountains, […]
Kinderhook Industries, LLC’s MHH Healthcare announced it has entered into a definitive agreement to acquire Medical Card System Inc. The transaction is expected to close later this year, subject to customary conditions and regulatory approvals, and will mark the second significant acquisition by a subsidiary of MHH Healthcare following the prior acquisition of GlobalHealth. Additional […]
Workers in the San Juan-Carolina-Caguas, Puerto Rico Metropolitan Statistical Area had an average (mean) hourly wage of $15.33 in May 2020, about 43% below the United States mainland average of $27.07, the US Bureau of Labor Statistics reported. Chief Regional Economist Martin Kohli said that after testing for statistical significance, all 22 major occupational groups […]
The maiden voyage of the newest and most modern cruise of the Carnival line, the Carnival Mardi Gras, will include a stop in the Port of San Juan in August, Puerto Rico Tourism Company Executive Director Carlos Mercado confirmed. The stop is part of the agency’s efforts to expand options for maritime access to the […]
As consumers feel more comfortable traveling, many in the travel industry predict that travel advisors will play an enhanced role in helping them choose their destinations and travel safely, said Discover Puerto Rico. That said, the island’s Destination Marketing Organization has partnered with these professionals to educate and provide them with tools to promote the […]
Several sports facilities in Aguadilla, Aibonito, Barranquitas, Carolina and Toa Baja will be repaired using an obligation of nearly $13.3 million in funds from the Federal Emergency Management Agency (FEMA). Some of these are in the design and planning process, while work in others has already been completed. “In addition to serving as places for […]
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