OFG Bancorp reports $127.7M in 1Q21 revenue, benefits on loan originations
April 22, 2021
OFG Bancorp, the financial holding company for Oriental Bank, reported results for the first quarter ended March 31, 2021, which reflected $127.7 million in revenue, a slight drop when compared to $132.8 million reported for the fourth quarter of 2020. The financial institution explained that the last quarter of 2020 benefited from $3.9 million in […]
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Earth Day ’21 marked by cross-sector effort to better Puerto Rico, the planet
April 22, 2021
Today, as the world observes the annual Earth Day celebration — under the “Restore Our Earth” motto — a cross-sector of industries have stepped forward to show their commitment to a better Puerto Rico and planet. Restoring the planet encompasses ongoing individual and collective efforts to achieve results in the short-, middle-, and long-term. It […]
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Puerto Rico Legal Aid unveils tech tool to identify level of risk of foreclosure
April 22, 2021
In anticipation of its upcoming “Having a roof is a right: Common power against executions and evictions” virtual meeting, Puerto Rico Legal Aid (ALPR, in Spanish) announced the creation of a technological tool that allows identifying the level of risk of a foreclosure, the organization’s Executive Director Ariadna Michelle Godreau-Aubert announced. The virtual event will […]
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Gov’t revenue collections for February beat forecast by $110.4M
April 21, 2021
Net income to Puerto Rico’s General Fund shored up in February, the eighth month of the fiscal year, totaled $714.8 million, Treasury Department Secretary Francisco Parés confirmed. The official added that collections accrued through February totaled $6.8 billion, or $122.5 million more than the same period in fiscal year 2020, when collections reached $6.6 billion. […]
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COR3 disbursements for municipal permanent works up 26% Y-O-Y in 1Q21
April 21, 2021
The Central Office of Recovery, Reconstruction and Resiliency (COR3) confirmed that disbursements to municipalities under the permanent works categories and participants of the Federal Emergency Management Agency’s (FEMA) Public Assistance Program reflected a 26% year-over-year increase during the first quarter, versus the same period in 2020. Agency Executive Director Manuel A. Laboy said that some […]
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Puerto Rico Tourism Co. doles out $125K in agrotourism incentives
April 21, 2021
The Puerto Rico Tourism Co. met with the 25 companies certified under its agrotourism program to hand each one a $5,000 incentive check to promote business continuity, for a total of $125,000. During a meeting at Hacienda Cascada in Aguas Buenas agency Executive Director Carlos Mercado also unveiled a new promotional campaign that focuses exclusively […]
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Puerto Rico Health Dept. proposes $300 fine on travelers arriving without negative COVID-19 test
April 20, 2021
Puerto Rico Health Secretary Carlos Mellado has signed a new Administrative Order that effective April 28, will impose a $300 fine on all travelers who fail to present a negative COVID-19 test within 72 hours prior to their arrival to the island. However, he said the fine will be removed once the traveler submits the […]
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Puerto Rico’s average yearly salary hovers at $25,332, study shows
April 20, 2021
Puerto Rico’s average worker makes about $25,332 a year, according to a study by the Census Information Center of the University of Puerto Rico in Cayey, based on numbers from the US Census for 2017. The Center’s Director, Economist José Caraballo-Cueto, explained that the most recent economic Census provides data on a cross-section of private […]
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Community water supply systems to be outfitted with redundant power
April 20, 2021
The Puerto Rico Community Foundation has launched the first phase of its project to establish redundant power for the island’s community water supply systems, which will guarantee uninterrupted access to running water in rural communities during natural disasters. The project entails a $25 million grant, issued through the Federal Emergency Management Agency’s risk mitigation program, […]
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Practical Techie: Sense of touch is soon coming to our virtual worlds
April 20, 2021
Web technology makes continuous inroads into physical reality, this time attempting to replicate one of our most precious senses: the human touch. Touch gives us a deeper understanding of things, which cannot be fully experience by sight, or hearing. The task ahead is to replicate as much of its real life tact authenticity into machines. […]
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SBA unveils $28.6B Restaurant Revitalization Fund to help hard-hit sector
April 19, 2021
The U.S. Small Business Administration announced details on application requirements, eligibility, and a program guide for the $28.6 billion Restaurant Revitalization Fund (RFF), which seeks to help bring back jobs and revive one of the hardest-hit economic sectors since the start of the COVID-19 pandemic. The SBA will administer the funds to the most affected […]
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Río Piedras Medical Center unveils 10 new operating rooms, after $5M investment
April 19, 2021
The first 10 new operating rooms to be located at the Río Piedras Medical Center’s Julio A. Pérez building were recently unveiled following a $5 million investment, the government’s Medical Services Administration, which manages the hospital, announced. In these rooms, general surgeries, orthopedic surgeries, ear-nose and throat, ophthalmology, urology, maxillofacial and neurosurgery can be performed, […]
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CBP seizes $437K-worth of counterfeit Viagra pills, unsafe motorcycle helmets
April 19, 2021
U.S. Customs and Border Protection Officers and Import Specialists in the Port of San Juan recently seized 1,869 counterfeit Viagra pills and 1,620 half-face motorcycle helmets that did not comply with National Highway Traffic Safety Administration regulations, it announced. Combined, the confiscated items had a street value of $436,649, the agency confirmed. “Consumers and small […]
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Grocery store Selectos opens app to US mainland shoppers
April 19, 2021
Puerto Rican grocery store chain Selectos announced it has introduced its Easy Shop app to shoppers in the US mainland looking to make purchases for people residing on the island. Mayreg Rodríguez, executive director of Selectos, said the grocery store is looking to reach the estimated seven million Puerto Ricans living in the continental US, […]
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Puerto Rico’s banking industry reflects strength in liquidity, capital
April 16, 2021
The Financial Stability Index for Puerto Rico’s banking industry, prepared by Estudios Técnicos, Inc. (ETI), shows that the industry’s liquidity and solvency remain strong despite the current economic environment. “The financial stability index for Puerto Rico’s banking industry has recovered after declining from 0.64 in the fourth quarter of 2019 to 0.54 in the first […]
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