Puerto Rican businesses, consumers ‘optimistic’ on economic recovery post COVID-19
May 21, 2021
The word “optimism” was repeated a number of times during the Puerto Rico Chamber of Commerce’s presentation of the 2021 studies establishing the level of confidence by local entrepreneurs and consumers. In both cases, the research concluded that there are high expectations for improved economic conditions moving forward. While economic analysis firm Estudios Técnicos prepared […]
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5 Puerto Rican startups chosen for gBETA San Juan summer ’21 cohort
May 21, 2021
Startup accelerator gener8tor has announced the five companies participating in its gBETA San Juan Summer 2021 cohort. This is the first gBETA program for gener8tor in Puerto Rico and the first gener8tor program to be offered in both English and Spanish. The five Puerto Rico-based startups selected — YO+, The Happy Givers, Hyperion, PolyGhost and […]
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$58M in budget cuts, adjustments put agriculture services at risk, Farm Bureau says
May 21, 2021
The head of the Puerto Rico Farm Bureau raised a red flag over the adjustments and cutbacks of more than $58 million to Agriculture Department programs included in the Fiscal 2022 budget, which “put major farmer aid programs at risk.” Bureau President Héctor I. Cordero-Toledo said information provided by the Administration for the Development of […]
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Gov. Pierluisi convenes advisory group to evaluate Puerto Rico’s minimum wage
May 20, 2021
Looking to evaluate Puerto Rico’s minimum wage and to promote a possible increase from the current $7.25 hourly rate, Gov. Pedro Pierluisi has convened the Governor’s Advisory Group on the Minimum Wage, which will be chaired Chief of Staff Noelia García and will integrate members of the public and private sectors. “Wage inequality is one […]
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Study shows uptick in local college grads, despite economic challenges for students
May 20, 2021
A study by nonprofit Excelencia in Education on university education in Puerto Rico revealed that, in the last 20 years, there has been a 40% increase in the total number of university degrees awarded, from 31,469 to 44,137, despite the fact that students do not have financial aid from scholarships fit for the rising cost […]
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Local bee species could boost agriculture, food security for Puerto Rico and the world
May 20, 2021
The annual celebration of World Bee Day on May 20th, as recognized by the United Nations, is setting the stage for the emergence of the “Puerto Rican Bee,” scientifically known as gAHB, or Africanized gentle honeybee. This species of bee exclusive to Puerto Rico is hybrid, has unique genetics and has proliferated locally thanks to […]
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Iberia to launch 3 weekly San Juan/Madrid flights starting July 2
May 19, 2021
Spain’s flagship airline, Iberia, will resume its San Juan/Madrid direct connections starting July 2, with three weekly flights out of the Luis Muñoz Marín International Airport (LMM). The traffic will represent $8.5 million in economic benefit for Puerto Rico over a year. Iberia will be operating the Madrid-San Juan route on Tuesdays, Fridays, and Sundays […]
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EPA grants $900K to 3 Puerto Rico towns for Brownfields Cleanup and assessment
May 19, 2021
The US Environmental Protection Agency (EPA) announced that three municipalities in Puerto Rico have been selected to receive a total of $900,000 to assess and clean up contaminated properties under the agency’s Brownfields Program. The towns of Barranquitas, Guaynabo and Vega Alta will equally split the money assigned to Puerto Rico. Nationwide, 151 communities will […]
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Discover Puerto Rico remains ‘optimistic’ for tourism sector recovery
May 19, 2021
As Discover Puerto Rico continues to work closely with partners on and off-Island to accelerate the economic recovery that is underway, it is citing positive trends pointing toward what it called “the great recovery of travel and tourism.” “Consumers want to travel, and while some are determined to travel regardless of the health outlook, others […]
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Puerto Rico’s manufacturing sector advances, exceeds pre-COVID-19 levels
May 18, 2021
Manufacturing activity has advanced steadily over the past 10 months and, for the first time since the COVID-19 outbreak, has exceeded the pre-pandemic level, according to the Manufacturing Coincident Indicators Index (IICM, in Spansih) for February 2021. Industrial activity in February increased 0.6% (seasonally adjusted) and registered a value of 104.1 points when compared to […]
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Estudios Técnicos: Keeping track of the risk of inflation in Puerto Rico
May 18, 2021
The fear of an inflationary wave in the United States has implications for Puerto Rico, precisely because the island’s prices are largely determined by what happens stateside. Puerto Rico’s inflation rate has been rebounding since October 2020, although during the first quarter of 2021, the Consumer Price Index (CPI) remained at a rate slightly below […]
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Practical Techie: Ultra-connections, in 5 yrs. all things will connect to most humans
May 18, 2021
In just a few years there will be almost five billion people connected to the global Web. Objects and humans will share countless types of microelectronic connections. Let’s fast forward a bit to 2026. Beyond its too risky to surmise with precision. Shortly, even wine bottles will have track and temperature sensors. So will do […]
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Caribbean to host 1st version of virtual Women Economic Forum Aug. 24-27
May 17, 2021
The Caribbean will host the first virtual Women Economic Forum focused on the region with leaders from the business, political and social spheres to promote the seal for gender equality between academia, business and the state, organizers announced. Leadership and female empowerment will be the central axis of this virtual meeting that will take place […]
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Puerto Rico retail sales up 13% YoY to $2.6B in Feb. ’21
May 17, 2021
Puerto Rico’s retail activity was bustling in February, when they grew by 13% in comparison to the same month in 2020. The Department of Economic Development and Commerce’s (DDEC, in Spanish) Retail Sales Report showed sales reached $2.6 billion. This is the ninth recorded increase in sales at an annual rate, all consecutively and the […]
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SME’s Digital Trends Study pegs Puerto Rico’s online sales at $458M
May 14, 2021
The 2021 edition of the Puerto Rico Sales and Marketing Executives Association’s (SME, in Spanish) Digital Trends Study confirmed that nearly 1.4 million people in Puerto Rico are doing their shopping online, a movement that has grown as a result of the COVID-19 pandemic. The study, commissioned to economic analysis firm Estudios Técnicos, showed that […]
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