Puerto Rico’s retail sales were apparently affected by the COVID-19 pandemic in 2020, when activity decreased by 2.4%, when compared to the same 12-month period in 2019, according to data provided by the Department of Economic Development and Commerce. However, general sales registered for the month of December 2020 increased to $3.05 billion, which represents […]
The Puerto Rico Aqueduct and Sewer Authority (PRASA) is investing $29 million in all of the infrastructure improvement projects it has planned for the towns of Arecibo, Hatillo, Camuy, Quebradillas, Lares, Utuado and Jayuya. In a meeting with the mayors and elected legislators from the municipalities, PRASA Executive President Doriel Pagán-Crespo, said the improvements include […]
Nonprofit Direct Relief and AbbVie teamed up to donate $90,000 to Solar Responders to install solar panels and a battery storage system at the Cataño Fire Department. “Energy resilience is one of the five pillars of Direct Relief’s mission on the island. Installing renewable and resilient energy systems in strategic locations such as health clinics […]
Changes in retail consumption habits were the focus of the Puerto Rico Retailers Association (ACDET, in Spanish) annual forum, entitled “The Next Generation of Retail, Are You Ready?” Online sales, which have picked up in response to restrictive measures taken to curb the spread of COVID-19, are forcing retailers to look at security tools and […]
Puerto Rico-based Trans-Oceanic Life Insurance Co. is expanding its reach outside the island with the opening of a new operation in Orlando, seeking to cater to the large Hispanic population in that central Florida city. TOLIC, as the firm is known, has invested $10 million to grow its business there, which may also serve as […]
The Puerto Rico Treasury Department has received about 117,081 tax returns and has paid out $22.8 million in refunds a week into this year’s tax season for the 2020 individual filing cycle, agency Secretary Francisco Parés said. “We’re satisfied with the response of taxpayers to this process, which is just beginning. This pro-taxpayers tax cycle […]
The Puerto Rico Aqueduct and Sewer Authority announced plans for some $47.2 million in infrastructure projects to improve the to the water and sewerage system in western municipalities. “We’re pleased to be able to share with the mayors and legislators of Puerto Rico’s western region the resumption of our capital improvement program that will provide […]
In a recent overview of Puerto Rico’s economic panorama, analysis firm Estudios Técnicos predicted that fiscal conditions on the island could improve during the latter half of this year. In the research, the firm acknowledged that Puerto Rico’s economy continues to experience declines, but external factors such as the distribution of the COVID-19 vaccine, the […]
Oriental announced it will expand access to loans for small and medium-sized businesses (SMEs) under the US Small Business Administration’s new guidelines for the Payroll Protection Program (PPP). Oriental has already awarded some $300 million in loans to more than 3,500 businesses between the first round and so far in the second round of this […]
The Information Highway is hot and fast-moving as never before with technological trends moving nonstop up and down the fast lanes. In 2021, innovative trends are in full view and accelerated. As we cruise along, cybernauts are pushed constantly to learn the new tech, relearn the usual and unlearn the old. We have to keep […]
As it moves into serving more than 1 million new wireless customers through its acquisition of AT&T, Liberty Puerto Rico will be investing close to $70 million to integrate the networks and systems. Liberty took over the wireless carrier’s assets on Oct. 31, 2021, after which it began the process of managing and merging both […]
San Juan-based Evertec disclosed its financial results for the fourth quarter and full year ended Dec. 31 2020, reporting a 6% quarter-over-quarter revenue increase to $134.2 million and 5% revenue growth of 5% to $510.6 million year-over-year. For the fourth quarter, the firm stated that GAAP net income attributable to common shareholders was $32.3 million, […]
A total of 37 families in the town of Guayama now have a safe roof over their heads through an initiative by Habitat for Humanity of Puerto Rico and its Housing Repair Program, created to aid in the rehabilitation and reconstruction of homes across the island affected by the Hurricanes Irma and María. The project, […]
Saying that the “integration of AT&T’s Puerto Rico and USVI operations [are] progressing well,” Liberty Latin America announced that its subsidiary, Liberty Puerto Rico, generated $624 million in revenue during the 12 months ended Dec. 30, 2020, representing a 9.9% increase year-over-year. In its latest financial report, Liberty Puerto Rico was also attributed $296 million […]
Colmena66, a San Juan-based based nonprofit that connects island entrepreneurs and small business owners to local and regional resource partners, was awarded $10,000 through the Lab-to-Market (L2M) Inclusive Innovation Ecosystem Prize Competition, sponsored jointly by the US Small Business Administration and the National Science and Technology Council. The nonprofit received the “Super Connector” award for its submission highlighting […]
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