Estudios Técnicos predicts better economic outlook during 2nd half of ’21
March 3, 2021
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 […]
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Oriental expands access to PPP loans under new guidelines
March 3, 2021
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 […]
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Practical Techie: Learning new tech, unlearning the old
March 3, 2021
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 […]
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Liberty Puerto Rico to pump $70M into local, USVI network this year
March 2, 2021
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 […]
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Evertec reports $510.6M in Fiscal ’20 revenue; $134.2M in 4Q20
March 2, 2021
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, […]
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Habitat for Humanity finishes home repairs in 5 communities in Guayama
March 2, 2021
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, […]
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Liberty Puerto Rico reports $624M in revenue for ’20; $296M in 4Q20
March 1, 2021
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 […]
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Colmena66 wins $10K from SBA’s Lab-to-Market competition
March 1, 2021
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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Town of Canóvanas unveils 3 new scenic routes to spur tourism
March 1, 2021
The executive director of the Puerto Rico Tourism Company, Carlos Mercado, and the Mayor of Canóvanas, Lornna Soto, unveiled a plan to establish three new scenic routes — still being developed for an official opening this year — as a way to promote tourism and the economic development in the northern town. Through the recently […]
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Housing Dept. announces availability of $800M for large-scale development projects
February 26, 2021
Puerto Rico Housing Department Secretary William Rodríguez announced that the Community Development Block Grant (CDBG) Program has allocated $800 million to the Investment Portfolio for Growth (IPG) initiative “to alleviate the exacerbated economic effects of the hurricanes through large-scale development projects.” As a preliminary process for the IPG Program, interested entities are asked to submit […]
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T-Mobile Puerto Rico customer base exceeds 1M after fusion with Sprint
February 26, 2021
The culmination of its integration with Sprint, and the sale of AT&T’s wireless operation in Puerto Rico, has boosted T-Mobile’s business, which at the end of 2020 exceeded 1 million in customers for the first time, T-Mobile Puerto Rico General Manager Jorge Martel said. While sharing 2020 results, Martel said T-Mobile saw an 8% growth […]
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La Tigre fashion retailer opening $500K flagship store in Ciudadela
February 26, 2021
Reinventing and looking for new ways to serve a new generation of consumers in Puerto Rico and around the world, La Tigre company had invested more than $500,000 on a new flagship store in Ciudadela in Santurce, and visualizing a prosperous clientele for its new extension of the Casa Alberghini brand. La Tigre’s strategic and […]
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Professional groups deliver 2 homes under the ‘Mi Casa Resistente’ project
February 26, 2021
The College of Engineers and Land Surveyors, in collaboration with several partners, delivered the keys of two of their houses built under the “Mi Casa Resistente” (“My Resistant Home”) project, at a cost of $95,000 each. The trade group known as the CIAPR in Spanish, worked with the College of Architects and Landscape Architects, the […]
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OBoard’s new agreement with bondholders would leave local gov’t without cash by ’29
February 25, 2021
The proposed new agreement struck recently by the Financial Oversight and Management Board for Puerto Rico with bondholder groups implies higher annual fixed payments and cash disbursements and for a longer period of time than in the October 2020 proposal, according to Espacios Abiertos Senior Public Policy Analyst Daniel Santamaría-Ots. “What remains constant with this […]
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Puerto Rico Open golf tourney to generate $5.7M for economy
February 25, 2021
As part of the safe restart of sports tourism in Puerto Rico and its direct impact in the local economy, the 13th edition of the Puerto Rico Open will be held through Feb. 28, generating $5.7 million for the local economy and creating more than 1,000 direct and indirect jobs, government and tournament officials said. […]
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