A group of business, professional, academic and nonprofits have come together under the “Talento Pro” citizen initiative, which seeks to clean up and elevate the selection and recruitment process of officials to occupy positions in the island’s main government agencies. The group called on the gubernatorial candidates for the upcoming November elections to discuss the […]
The U.S. Department of Transportation announced it will reimburse Puerto Rico some $3.2 million under the Emergency Relief for Road and Bridge Repairs program. The money was used to repair roads and bridges damaged by by storms, floods, and other unexpected events. In Puerto Rico’s case, the federal agency allocated three funding assignments: $2.2 million […]
The Consumer Technology Association (CTA), a trade association representing the United States consumer technology industry, announced the new group of honorees in its 2020 Consumer Technology Hall of Fame, naming parallel18 graduate, re: 3D Inc., as “Company of the Year” for 2020. The association celebrates leaders in the technology industry who advance innovation and develop, […]
Upon confirming Liberty Communications of Puerto Rico LLC’s recovery from the 2017 hurricanes, including the improvement of its financial profile, and the restoration of service, Fitch Ratings has affirmed all of the company’s ratings, including the Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘B+’. Fitch also affirmed the ‘BB-‘/’RR3’ ratings on the company’s secured […]
The U.S. Department of Commerce’s Bureau of Economic Analysis released prototype annual estimates of gross domestic product (GDP) for Puerto Rico for the years 2012 to 2018, the agency announced. This publication “represents another major step by the Bureau to develop comprehensive economic accounts for Puerto Rico that are consistent with international guidelines and that are […]
Three Puerto Rico-based start-ups — INSU Health Design, Cinco and Skootel — won the top spots during the first edition of the Bravo Family Foundation’s Rising Entrepreneurs Program, with each receiving $60,000 for their businesses. INSU Health Design, is a company that provides a bio-medicine storage solution in times of disaster, CINCO, is dedicated to […]
A group of 32 credit unions in Puerto Rico received about $6 million in assignments from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) to expand their services to economically disadvantaged communities. The allocation constitutes the largest amount granted by the U.S. Treasury to co-ops in Puerto Rico, reaching $10 million […]
As part of the activities to commemorate World Tourism Day on Sept. 27, the Puerto Rico Tourism Co. published a schedule of official activities to mark the occasion. These activities will be held in the upcoming weeks and showcase “Tourism and Rural Development,” the theme chosen by the World Tourism Organization (UNWTO) for the 40th […]
The announcement last week that Puerto Rico will receive almost $13 billion in new disaster aid from the Federal Emergency Management Agency, primarily to rebuild the island’s power grid, is credit positive, Moody’s Investors Service said. “The announcement is credit positive for both Puerto Rico Electric Power Authority (PREPA: Ca, Neg) and the Commonwealth of […]
The Puerto Rico Retailers Association (ACDET, in Spanish) announced the results of the Collaborative Surveillance Program that the sector has integrated into its efforts to minimize the risks of COVID-19 contagion, which revealed that 96% of participating establishments are 96% compliant in their protocols. The conclusion stems from a sample involving 45,000 observations by 15 […]
The Bravo Family Foundation will choose today the three local startups that will receive additional prizes for their successful participation in the first edition of the Rising Entrepreneurs Program that seeks to promote business growth in Puerto Rico. In all, 10 businesses took part in the Bravo Family Foundation’s initiative to promote business creation within […]
The Puerto Rico Ports Authority received an additional grant of $24.2 million to develop the runway reconstruction project at the Rafael Hernández International Airport in Aguadilla, agency Executive Director Joel A. Pizá-Batiz announced. “This new grant is added to the historic $26 million grant announced last week. This is a very important achievement within the Ports […]
The Ritz-Carlton San Juan, a hotel that has remained shuttered since Hurricane María clobbered Puerto Rico in 2017, is set to reopen in mid-2022, following the completion of a multi-million dollar renovation, this media outlet confirmed. The owners of the luxury beachfront property in Isla Verde, RCPR Acquisition Holdings, LLC, have reportedly reached a settlement […]
Saying that Puerto Rico’s casino operations are abiding by “strict and efficient” security protocols to ward off the spread of the COVID-19 virus, sector executives represented by the Puerto Rico Hotel & Tourism Association sent a letter to island’s Health Secretary expressing concern about another potential closure. In the letter, the trade group spoke for […]
The Federal Emergency Management Agency and the Puerto Rico Central Office for Recovery, Reconstruction and Resilience, or COR3, announced the obligation of more than $91.4 million in additional funds for 135 projects related to the recovery and reconstruction of Puerto Rico after Hurricane María. These grants were assigned during the week of Sept. 11-17, the government agencies confirmed. Among the […]
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