Rock Solid’s Pérez resigns after 20-yr. tenure
July 23, 2021
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 […]
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FEMA OKs $90M in Community Disaster Loans for earthquake-affected towns
July 23, 2021
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. […]
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Puerto Rico wins $25M settlement from ExxonMobil contaminant suit
July 22, 2021
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 […]
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Oriental CEO: ‘It’s time to pull out of bankruptcy’
July 22, 2021
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 […]
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Culebra joins fight against dengue mosquitoes and outbreaks
July 22, 2021
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 […]
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Moody’s cites ‘business reasons’ to withdraw Puerto Rico’s credit ratings
July 21, 2021
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 […]
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Fenwal Int’l investing $34M to create state-of-the-art campus in San Germán
July 21, 2021
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 […]
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Food sector leaders across Caribbean meet to discuss disaster preparedness, recovery
July 21, 2021
Education, technology, and insurance were the aspects of resilience food sector leaders agreed are key in preparing for and overcoming future emergencies. Nonprofit organization World Central Kitchen (WCK), gathered leaders in the food industry from the Caribbean region this week for the panel discussion “Creating Resilient Food Systems in the Caribbean.” Panelists included Michael Pintard, […]
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PREPA has required legal provisions to enable ‘massive installation’ of photovoltaic systems
July 20, 2021
A new study commissioned by nonprofit organization CAMBIO has identified the existing regulatory and legal alternatives to move toward clean energy and the resilience of each home in Puerto Rico through the model proposed by Queremos Sol, which would provide access to solar panels without depending on the economic capacity of families. “We are presenting […]
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Hospital Damas in Ponce is ‘test driving’ $2M robotic surgery system
July 20, 2021
A group of specialist doctors, including gynecologists, urologists and surgeons from the Damas Hospital in Ponce ran “test drives” on the daVinci Xi robotic surgery system, which the hospital is looking to acquire at a cost of $2 million to expand services provided to 12 municipalities in the southern region. Last month, the Damas Hospital […]
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Practical Techie: Enormity of the web requires lightweight design
July 20, 2021
Like a fast and agile athlete, keeping internet business pages running fat-free, stringy, and lean is a must. The colossal nature of the web forces commerce portals to do constant liposuction to superfluous, distractive content. Make pages quick to download, easy to navigate, and be user-friendly. CRUNCH – There are 4.66 billion active internet users worldwide […]
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Growth Digital: Car buying trends changed with COVID-19 pandemic
July 19, 2021
Puerto Rico consumers changed their buying habits, particularly related to cars, during the COVID-19 pandemic, as they moved more toward using online tools to get better deals and prices, according to Growth Digital, Google’s marketing arm. Due to the COVID-19 pandemic, consumer expectations changed and now they “want much more digital experiences that are easier, […]
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Puerto Rico car sales up 9.3% Y-O-Y in June, limited by chip shortage
July 19, 2021
The United Automobile Importers Group (GUIA, in Spanish) confirmed that Puerto Rico’s new car sales grew by 9.3% in June, when compared to the same month in 2020, with 11,636 units sold in comparison to the 10,648 new vehicles that rolled off lots in June 2020. “Given that June of last year was the first […]
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Puerto Rico businesses affected by ’20 storms, flooding still may apply for SBA loans
July 19, 2021
The US Small Business Administration is reminding small businesses and most private nonprofit organizations in Puerto Rico that Economic Injury Disaster Loans (EIDLs) are still available to anyone in the declared municipalities in Puerto Rico affected by severe storm and flooding on Sept. 13, 2020. The application deadline is Aug. 5 in the following adjacent […]
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Retail Value Inc. sells off remaining 9 shopping centers in Puerto Rico for $550M
July 16, 2021
Retail Value Inc., the owner of nine shopping centers in Puerto Rico, has agreed to sell its remaining properties in Puerto Rico to Kildare Acquisitions for $550 million in cash. This is the third time in the last six months that the independent publicly traded company has announced the sale of a local property. In […]
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