Puerto Rico’s credit union industry strengthened by 20% increase in total deposits
April 28, 2021
Conditions for Puerto Rico’s credit union industry continued improving as of the fourth quarter of 2020, with greater liquidity, asset quality and a 20% increase in total deposits, according to the new Credit Union Industry Financial Stability Index for Puerto Rico, produced by Estudios Técnicos Inc. (ETI). “The index increased from 0.38 in the fourth quarter […]
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Consulting services firm ICF lands $46M contract from Puerto Rico gov’t
April 27, 2021
The Public Private Partnership Authority recently awarded global consulting and digital services provider ICF a new $46 million contract to provide services to support long-term disaster recovery from Hurricanes Irma and María and hazard mitigation efforts to protect against future disasters, it announced. The contract, which is administered by the Central Office of Recovery, Reconstruction […]
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Puerto Rico’s population shrinks by 11.8% since 2010
April 27, 2021
The U.S. Census Bureau disclosed that Puerto Rico’s resident population was 3,285,874 as of April 1, 2020, down 11.8% from 3,725,789 people included in the 2010 Census. “We’re proud to release these first results from the 2020 Census today. These results reflect the tireless commitment from the entire Census Bureau team to produce the highest-quality […]
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First BanCorp reports $58.9M in Y-O-Y net income growth during 1Q21
April 27, 2021
First BanCorp., the parent company of FirstBank Puerto Rico, reported net income of $61.2 million, or $0.28 per diluted share, for the first quarter of 2021, compared to $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020, and $2.3 million, or $0.01 per diluted share, for the first quarter of 2020. […]
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Puerto Rico’s economic activity shows slight growth in Jan-Feb ’21, but tumbled Y-O-Y
April 27, 2021
Puerto Rico’s economic activity showed slight growth in January and February 2021, with 118.8 and 119.3 points, respectively, but took a tumble year-over-year with drops of 3.2% in January and 2.3% in February 2020. Puerto Rico Economic Development Bank President Luis Alemañy said the Economic Activity Index (EAI-BDE) analysis period includes the months when the […]
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Pierluisi announces start of bidding process to rebuild hospital in Vieques
April 26, 2021
Nearly four years after losing its only hospital to the destruction caused by Hurricane María, the bidding process to rebuild the Vieques medical facility is officially underway. Gov. Pedro Pierluisi announced the start of the bid for architectural/engineering services for the conceptual drawings for the Susana Centeno Hospital in Vieques. He said $1 million has […]
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Farm Bureau supports González’s designation as agriculture secretary
April 26, 2021
Saying they “foresee a rebound in the sector” under the leadership of Agriculture Secretary-designate, Ramón González, members of the Puerto Rico Farm Bureau threw their support behind the farmer, whose confirmation hearing is scheduled for today at the Senate. During a press conference, leaders of the coffee, fishing, dairy, and family markets sectors, together with […]
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FEMA awards $6.2M+ to Puerto Rico ecotourism hotspots
April 23, 2021
Environmental protection allows the population to enjoy nature, while contributing to their well-being and also indirectly promotes the creation of small business in the ecotourism industry. This positive cascade effect is how Federal Disaster Recovery Coordinator for Puerto Rico and the U.S. Virgin Islands, José Baquero Tirado, described the recent $6.2 million obligation to the Department of […]
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Agriculture Dept. creates culinary competition to promote local products
April 23, 2021
Looking to promote farming and the consumption of locally sourced food, the Agriculture Department announced the start of the “Chef Del País” competition between culinary arts students that seeks chefs-in-training to prepare innovative recipes with local products. The cook-off was created in partnership with the InterAmerican University of Puerto Rico, Ana G. Méndez, ICPR Jr. […]
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Interactive maps promote planning for Puerto Rico’s vulnerable communities
April 23, 2021
The Foundation for Puerto Rico and the Puerto Rico Housing Department unveiled the Interactive Vulnerability and Risk Maps, a digital tool that was developed as part of the nonprofit’s Whole Community Resilience Planning (WCRP) Program. With the publication of this tool, citizens will be able to see data and interactive maps that promote knowledge about […]
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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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