Puerto Rico credit unions could dip into $3B federal revitalization fund
December 29, 2020
The Public Corporation for the Supervision and Insurance of Puerto Rico Cooperatives (COSSEC, in Spanish) confirmed that local credit unions will be able to access some $3 billion in budgetary allocations included in the new federal economic stimulus package that seeks to revitalize communities with low and moderate resources. The federal funding bill allocates $3 […]
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Espacios Abiertos unveils Transparency Barometer
December 29, 2020
A lack of transparency in public governance and access to information was one of the key public opinion concerns in 2020, according to an analysis conducted by Puerto Rico-based nonprofit Espacios Abiertos. The finding is reflected in the newly unveiled Transparency Barometer, a digital tool created by the organization, which spans more than 400 stories about transparency published by […]
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Practical Techie: A very virtual 2021 New Year to you
December 29, 2020
As 2020 winds down, it will not be like the old days with parties, firecrackers, music, drinks and dancing. It will be the end of the year to stay calm, secluded and collected. Most of us will see the year die down with cell phone in hand to communicate with distanced loved ones at the […]
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Economic Dev’t unveils new Manufacturing Coincident Indicators Index
December 29, 2020
The Department of Economic Development and Commerce unveiled a new Manufacturing Coincident Indicators Index, a new metrics and analysis tool to illustrate the sector’s economic activity, which agency Secretary Manuel Laboy said reflects that the industry is maintaining a recovery rate. “The most recent report corresponding to October 2020 showed that manufacturing continues to gain […]
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Ana G. Méndez University to offer 40 degree programs 100% in English in ’21
December 28, 2020
Orlando, FL — Despite these challenging times, Ana G. Méndez University will launch more than 40 degree programs in English in its three campuses in the state of Florida and one in Texas, as part of its new plans for 2021, this media outlet confirmed. Beginning Jan. 11, students will start their new classes in […]
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IHP Hospitality sees 70% drop in hotel bookings in Nov.
December 28, 2020
November bookings dropped by about 70%, for IHP Hospitality Corp. as a direct consequence of the COVID-19 pandemic and the government’s Executive Order, which, among other conditions, bans recreational visits to beaches and imposes a curfew. “We currently own five different hotels across the island. It’s been extremely challenging, Claire Ruiz, director of Finance and […]
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RVI sells Plaza Palma Real in Humacao for $50M
December 24, 2020
Retail Value Inc. closed on the sale of the Plaza Palma Real shopping center in Humacao on Dec. 22, for $50 million prior to closing costs, prorations and other closing adjustments, it announced. The buyer was undisclosed. The net proceeds were used to repay mortgage debt associated with RVI. Last year, the mall marked its […]
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Univision must sell 3 Puerto Rico TV stations as part of larger deal
December 24, 2020
The Federal Communications Commission gave its go-ahead to the sale of certain subsidiaries of Univision to investors Searchlight and ForgeLight and Grupo Televisa — but the deal is conditioned to the sale of three of Univision’s television stations in Puerto Rico. According to an order issued by the FCC’s Mass Media Bureau, Univision will have […]
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WSP USA Building Inc./Marvel Architects chosen to develop PROtech project
December 24, 2020
The consortium comprised by WSP USA Building Inc./Marvel Architects has been chosen to develop the Puerto Rico Ocean Technology Complex (PROtech) project in Yabucoa, the Department of Economic Development and Commerce announced. The consortium for the $300M thermal ocean energy project unveiled in July was chosen after completing the selection process to develop the complex […]
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The Ivy Hotel opens in Condado following $1M renovation
December 23, 2020
Magdalena Partners LLC, owners of The Ivy Hotel in the Condado sector of San Juan, inaugurated the property that emerges from the redesign and transformation of an existing structure, following a $1 million investment. The 26-room boutique hotel offers its guests the “combination of sophisticated style with a free-spirited attitude, in the urban setting of […]
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DACO unveils online appointment system
December 23, 2020
The Puerto Rico Consumer Affairs Department (DACO, in Spanish) unveiled a new online appointment system to give consumers access to orientation and the ability to carry out their procedures while avoiding lines and crowds, said agency Secretary Carmen Salgado. Through this link, people can coordinate their appointment to get services in person at any DACO’s […]
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33 entities taking part in Puerto Rico Public Health Trust telemedicine initiative
December 22, 2020
The Puerto Rico Public Health Trust announced the start of its Telemedicine Distance Education, consisting of virtual training and delivery of equipment to more than 30 clinics located in rural areas of the island. The project comes after the U.S. Department of Agriculture (USDA) awarded a $1.1 million grant for distance training and telemedicine and […]
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Chick-fil-A confirms plans to enter Puerto Rico market with 10-15 restaurants
December 22, 2020
About a month after this media outlet broke the story about Chick-fi-A’s plans to enter the local market, the chicken restaurant confirmed it will open two restaurants in late 2021 or early 2022. The restaurants will be located in the metropolitan area, with the first restaurant likely to be in Bayamón. Each Chick-fil-A restaurant will […]
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16 Puerto Rico entrepreneurs turn business idea into reality
December 22, 2020
Sixteen aspiring entrepreneurs recently completed the Foundation for Puerto Rico’s Emprende 360° business education program to turn their business ideas into reality. After a 12-month process with leading organizations in the entrepreneurial ecosystem, the cohort developed 11 business ideas for the Coamo and Ponce region and was awarded $2,000 in seed capital to jump-start each […]
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Practical Techie: ’20 Russian hack alerts businesspeople to the frailties of the system
December 22, 2020
The suspected epic cyberattack, or spy operation into the US government apparatus opens our eyes even wider to the vulnerabilities of the internet spectrum. The news reports say American officials suspect a Russian spy agency has carried out what they describe as a “distressing feat of espionage into dozens of state corporations and government agencies.” […]
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