RB’s Puerto Rico opens 1st local Arby’s restaurant in Cayey
July 13, 2021
Local franchisee RB’s Puerto Rico officially opened the first Arby’s— a US-based drive-thru sandwich chain — on the island, in the mountain town of Cayey, where it is generating 40 new jobs. Company officials refrained from revealing the investment made in the new 2,600 square-foot restaurant that will feature Arby’s iconic sandwiches, wraps, sides, and […]
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Pierluisi designates Marrero to Secretary of State post
July 13, 2021
Gov. Pedro Pierluisi announced the designation of Omar Marrero as Secretary of State, who if confirmed, would steer two government offices. Marrero, who is currently the executive director of the Fiscal Agency and Financial Advisory Authority (AAFAF, in Spanish), working directly with the Financial Oversight and Management Board for Puerto Rico to finish the restructuring […]
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Practical Techie: Virgin Galactic ushers in private space flight
July 13, 2021
On Sunday, July 11, 2021, Virgin Galactic made aerospace history when it launched Unity 22 into the skies over southern New Mexico with five crew mates aboard, including company founder Sir Richard Branson. The British empresario became the first billionaire to launch into space. The 70-year-old Branson is now the second oldest person in space, […]
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State Insurance Fund Corp. exceeds operational savings required by OBoard
July 12, 2021
The State Insurance Fund Corp. (State Insurance Fund Corp., in Spanish) confirmed it exceeded by $1.2 million the savings that the Financial Oversight and Management Board for Puerto Rico required for its operating budget for Fiscal 2021. So said CFSE Administrator Jesús M. Rodríguez-Rosa, confirming that the Oversight Board required the corporation to achieve spending […]
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Hertz sells local operation to Best Rate Car & Truck Rental Inc.
July 9, 2021
The Hertz Corporation, which operates the Hertz, Dollar and Thrifty vehicle rental brands, has sold its local operation to long-time franchisee partner Best Rate Car & Truck Rental Inc., News is my Business confirmed. The financial terms of deal that closed July 1 were undisclosed. However, this media outlet learned that as a result of […]
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DTOP vows to rebuild Puerto Rico roads with $299M FEMA allocation
July 9, 2021
To date, the Federal Emergency Management Agency (FEMA) has obligated nearly $299 million to the Department of Transportation and Public Works (DTOP, in Spanish) to repair damage and optimize state roads and bridges. This includes nearly $92 million approved during 2021 to address infrastructure in nearly 30 municipalities. The obligations represent permanent work projects to […]
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Discover Puerto Rico seeks to drive tourism sector to ‘strongest ever’ results
July 9, 2021
Discover Puerto Rico is focusing on strategies to help stabilize the island’s economy through tourism and “drive visitor-powered employment and revenue to new records,” as per its 2021-22 Strategic Marketing Business Plan. The 109-page report calls for surpassing 2019 visitation numbers, increasing average daily rate (ADR) for hotel rooms, and attracting a more “conscientious traveler” […]
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Practical Techie: Watch free live streaming TV via the web
July 9, 2021
We all know about the new streaming services that let you watch live TV, but almost all are pay channels. If one subscribes to the paid TV streaming apps they may include Sling, Hulu, Apple TV, YouTube TV, Live TV, and many more. But there are free and legal ways to watch TV from around the […]
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NY-based firm invests $2M+ in Puerto Rico affordable senior housing
July 8, 2021
New York-based Community Development Trust, which provides long-term debt and equity capital for creating and preserving affordable housing across the US and its regions, announced its first equity investment in Puerto Rico. CDT, in partnership with Volunteers of America National Services (VOANS), has invested $2.25 million to preserve a combined 235 units in Villa Esperanza […]
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Puerto Rico drivers can transfer vehicles through CESCO Digital app
July 8, 2021
Puerto Rico drivers now have access to expanded services available through the Department of Transportation and Public Works (DTOP, in Spanish) CESCO Digital mobile app, which now allows for transferring the ownership of vehicles, agency Secretary Eileen Vega announced. The app, which already allows users to access a digital version of their driver’s license and […]
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Puerto Rico’s small businesses can still apply for CDBG grants
July 8, 2021
Owners of small and medium-sized businesses in Puerto Rico that were affected by Hurricanes Irma and María in 2017 may continue applying for help available through the Small Business Financing Program, under the Community Development Block Grant (CDBG) Program. Puerto Rico Housing Department Secretary William Rodriguez, said so far, the program has disbursed $24.5 million […]
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SBA grants $69.2M in aid to 339 bars, restaurants in Puerto Rico
July 8, 2021
The U.S. Small Business Administration recently announced the end of the Restaurant Revitalization Fund (RRF) program, which awarded $69.2 million in payments to 339 bars and restaurants in Puerto Rico, the agency confirmed. There was a total of 2,396 applications from Puerto Rico establishments, which requested a little more than $419 million in funding. Over in the […]
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Isla Borinquen LLC to build $12M dry dock in San Juan
July 7, 2021
The Puerto Rico Ports Authority has selected local firm Isla Borinquen LLC, headed by Baseball Hall of Famer Iván “Pudge” Rodríguez, to develop, finance, build and operate a $12 million dry dock facility at Pier 15 in San Juan. The facility will offer maintenance, repair, and appraisals of commercial vessels and yachts. The project could […]
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Passenger traffic at LMM up 13.7% in June ’21 vs. ’19’s pre-pandemic levels
July 7, 2021
Passenger traffic at the Luis Muñoz Marín International Airport (LMM) exceeded the 1 million mark in June, which reflected a 13.7% increase over the 888,007 on record for June 2019, prior to the COVID-19 pandemic hit. Last month’s total is nearly a five-fold jump from the 214,008 on record for June 2020, when passenger movement […]
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9th generation of P18 program picks 40 startups, 57% are from Puerto Rico
July 7, 2021
Parallel18’s international acceleration program for startups, P18, announced the selection of the 40 companies that will be part of its ninth generation, headed by businesses established in Puerto Rico. The initiative, part of the Puerto Rico Science, Technology and Research Trust, offers entrepreneurs from around the world, access to high-quality business education, financing, and networking […]
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