Puerto Rico’s retail sales increased by 14.8% in July, compared to the same month of the previous year, according to the Retail Sales Report issued by the Department of Economic Development and Commerce’s Office of Economic Analysis. Retail sales reached $2.8 billion in July, four months into the restrictions on the economy put in place […]
Medical Card System Inc. announced it has invested some $60 million through Oct. 1 to help improve the social determinants that affect the chronic conditions of more than 121,000 of its members. The investment includes $16 million for its “MCS Classicare Te Paga Card-The Original” initiative. The benefits of the card, which is approved by […]
An analysis of the Airbnb travel platform showed that 80% of the searches that Puerto Rico residents carried out in August and September were to travel within the island. The trips will be domestic with the possibility of working from the accommodation and with a family profile, the travel platform said. Locations are chosen based […]
Puerto Rico government officials inaugurated the Alpha taxiway at the Mercedita International Airport in Ponce, following a $10.7 million renovation, Puerto Rico Ports Authority Executive Director Joel Pizá-Batiz said. The Alpha taxiway is the main access for aircraft to use to and from the runway during take-off and landing operations. Pizá Batiz said that the […]
Puerto Rico’s credit union reported a 9.5% growth in assets between March and June, at the peak of the COVID-19 pandemic, drawing 10,000 new members and retaining some 3,000 employees, Eddie Alicea-Sáez, president of the Credit Union Executives Association confirmed. The association known as ASEC in Spanish stated that participating credit unions accrued an additional […]
Fermín Fontanés, executive director of the Puerto Rico Public-Private Partnerships Authority, provides an update on several proposals in the pipeline in the areas of energy and transportation, as well as the effects of the COVID-19 pandemic on the proceedings.
The Puerto Rico Electric Power Authority spent $192 million to buy land or to develop projects that were not built or completed, according to an audit by the Puerto Rico Office of the Comptroller. The report reveals that PREPA spent $62.2 million in the cancellation of the Gasoducto del Sur natural gas pipeline project, disbursed […]
The Financial Oversight and Management Board for Puerto Rico announced that the Puerto Rico Education Department made at least $80 million in payments over 13 years to employees who had resigned, are retired, are deceased, on vacation, or otherwise not working because the agency “lacks an automated system that ensures only employees who are working […]
The Coalition for Food Insecurity Puerto Rico, the Puerto Rico Retailers Association (ACDET, in Spanish), and the Chamber of Marketing, Industry and Food Distribution (MIDA, in Spanish) applauded U.S. House Speaker Nancy Pelosi and the House Democratic caucus on including key nutrition provisions addressing food insecurity in Puerto Rico in the newly updated HEROES ACT. […]
The Roberto Clemente Municipal Sports Complex in Carolina will be rebuilt with help of an obligation of nearly $9.5 million from the Federal Emergency Management Agency. The facility consists of several structures built between 1988 and 2009. These include a playground for children with access and functional needs, the Guillermo Angulo Coliseum and a Sports Hall of […]
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 […]
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