Liquidity of Puerto Rico’s banks up $16B in 1Q21, Financial Stability Index says
June 23, 2021
The Financial Stability Index of commercial banks in Puerto Rico, prepared by Estudios Técnicos Inc., shows a strengthening in the banking industry this year, mainly due to an improvement in its liquidity and increases of $16 billion in deposits in the first quarter of 2021. “The index increased from 0.52 in the first quarter of […]
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Gov’t sponsoring job fair seeking 4K restaurant workers
June 23, 2021
The Department of Economic Development and Commerce (DDEC, in Spanish), through its Labor Development Program, will be holding a job recruitment fair to fill 4,000 restaurant jobs, the agency announced. The event — organized in collaboration with the Puerto Rico Restaurants Association (ASORE, in Spanish) and the Department of Labor and Human Resources— will take […]
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$4M improvement project in Camuy to take a year to complete, PRASA confirms
June 23, 2021
The Puerto Rico Aqueduct and Sewer Authority confirmed that the $4 million in upgrades underway at the Quebrada filtration plant in the northern town of Camuy will be completed in about a year. PRASA President Doriel Pagán said the project calls for optimizing the water treatment process, providing an increase in clarification, filtration and disinfection […]
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HUD publishes notice on use of up $2B in disaster recovery funds for Puerto Rico, USVI
June 22, 2021
The US Department of Housing and Urban Development (HUD) published a Federal Register notice governing the use of $2 billion in Community Development Block Grant Disaster Recovery (CDBG-DR) funds for electric power system enhancements and improvements for Puerto Rico and the US Virgin Islands. The publication of this notice is the latest in a series […]
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Practical Techie: Plenty of info on the web about the summer solstice
June 22, 2021
The summer solstice has arrived in 2021 and it reflects amply on the World Wide Web with plenty of data and details about the astronomical phenomena. Solstice is “solstitium” in Latin and it means: “the sun is stopping.” The ancients described it as such because it seemed to them the point where the sun appears […]
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Op-Ed: Puerto Rico’s electric grid suffers series of setbacks under LUMA Energy management
June 22, 2021
More than two weeks into its management of Puerto Rico’s electrical system, private contractor LUMA Energy is not off to a good start. Frequent power outages and service delays have tested the patience of an already over-burdened customer base since LUMA Energy took control of the island’s electric system in a privatization switchover on June […]
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HP Enterprise cogeneration plant in Aguadilla is the co.’s 1st in the world
June 21, 2021
The liquified natural gas facility that Hewlett Packard Enterprise is building in Aguadilla will be the first in the world for the technology giant, which is preparing to stay in Puerto Rico for the long-run, Mark Bakker, general manager of Global Operations for HPE, told News is my Business. HPE´s facility in Aguadilla is a […]
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Discover Puerto Rico forms partnerships to reach Puerto Rican diaspora
June 21, 2021
The Puerto Rican diaspora is a critical audience for Discover Puerto Rico, which continually reaches this segment of the community, keeping it informed about entry requirements and the latest health and safety guidelines. To achieve this, the island’s Destination Marketing Organization seeks creative ways to reach the diaspora and forging partnerships with key community organizations […]
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Op-Ed: PRCCI supports blood collection efforts in Puerto Rico
June 21, 2021
The pandemic has impacted everyone’s life, including blood availability in Puerto Rico. According to Puerto Rico Consortium for Clinical Investigation, a subsidiary of the Puerto Rico Science, Technology & Research Trust, thousands of people need blood every day. Last year, PRCCI joined forces with the three blood banks in Puerto Rico — Mutual Services Blood […]
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Laboy: $4B in FEMA risk mitigation funding not at risk
June 18, 2021
The Central Office of Recovery, Reconstruction and Resiliency (COR3) is “focused on reaching the goal to allocate the $4 billion in Hazard Mitigation Grant Program funds assigned by the Federal Emergency Management Agency (FEMA) on or before Oct. 31. Agency Executive Director Manuel Laboy rejected comments that the funds are at risk. “We’re working full […]
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Insurer Seguros Múltiples building new $3M branch in San Juan
June 18, 2021
Insurance company Cooperativa de Seguros Múltiples de Puerto Rico announced the start of construction of its new $3 million San Juan metropolitan area branch, located on the same campus as its headquarters in Río Piedras. The new offices slated to open during the first quarter of 2022 will generate 40 direct jobs and 30 indirect […]
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Executive appointments at FirstBank, Uber, Ernst & Young
June 18, 2021
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 […]
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Hewlett Packard Enterprise gets gov’t backing for clean energy project
June 17, 2021
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 […]
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FEMA OKs $16.6M for water distribution and control facilities
June 17, 2021
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 […]
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AZ Foods looks to implement new model to help small businesses distribute goods
June 17, 2021
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 […]
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