First BanCorp. reports $70.6M in net income, up 231% Y-O-Y
July 26, 2021
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 […]
chat_bubble0 Comment
visibility2609 Views
Luis Muñoz Marín Int’l Airport posts ‘strongest recovery’ for parent company
July 26, 2021
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 […]
chat_bubble0 Comment
visibility2203 Views
Ricoh Puerto Rico launches e-commerce platform for business sector
July 26, 2021
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 […]
chat_bubble0 Comment
visibility3107 Views
Popular Inc. reports $218.1M in net income in 2Q21
July 23, 2021
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 […]
chat_bubble0 Comment
visibility1642 Views
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 […]
chat_bubble0 Comment
visibility3863 Views
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. […]
chat_bubble0 Comment
visibility1531 Views
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 […]
chat_bubble0 Comment
visibility2912 Views
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 […]
chat_bubble0 Comment
visibility2361 Views
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 […]
chat_bubble0 Comment
visibility1647 Views
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 […]
chat_bubble0 Comment
visibility3009 Views
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 […]
chat_bubble0 Comment
visibility3836 Views
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, […]
chat_bubble0 Comment
visibility1513 Views
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 […]
chat_bubble0 Comment
visibility2026 Views
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 […]
chat_bubble0 Comment
visibility1746 Views
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 […]
chat_bubble0 Comment
visibility2340 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA