Lifted by efforts to help residential and business customers navigate the COVID-19 quarantine and lockdown, Liberty Puerto Rico reported $109 million for the second quarter, a 5.1% increase compared to the same period in 2019, and a 4.3% jump over the first quarter in 2020. The financial results showed that Liberty added 33,500 revenue generating […]
Thoma Bravo, a private equity investment firm founded by Puerto Rican entrepreneur Orlando Bravo, announced the sale of its portfolio company Ellie Mae to Intercontinental Exchange (ICE), in a deal worth $11 billion. Ellie Mae, based in Pleasanton, CA with approximately 1,700 employees, was founded in 1997 with a mission to automate and digitize the […]
Puerto Rico’s Resident Commissioner in Washington Jenniffer González and Florida Sen. Marco Rubio introduced H.R. 7577, a bill that would help boost Puerto Rico’s economy and position the island as a “hub,” or national production center, of medical equipment and drugs. This bicameral initiative encourages companies that are currently producing pharmaceuticals and medical devices abroad, […]
A new application called the Colecturía Digital Móvil was recently launched to ease the purchase of Treasury Department payment vouchers required for dozens of government transactions, particularly at the Department of Transportation and Public Works’ Drivers Services Office (CESCO). Once the mobile app is downloaded, the user registers, selects the agency that requires the voucher, […]
The Puerto Rico Treasury Department reported that the preliminary revenue for the General Fund during the 2019-2020 fiscal year totaled $9.3 billion. Although the collections of the last two quarters of this fiscal year were affected by the earthquakes and the COVID-19 pandemic, they exceeded the revised Financial Oversight and Management Board for Puerto Rico […]
Puerto Rico-based business internet service provider AeroNet this week launched a new, advanced Wi-Fi service in Old San Juan, in partnership with Facebook Connectivity. The new service is powered by Facebook Connectivity’s Express Wi-Fi platform, which will enable AeroNet to provide its Wi-Fi service in a sustainable and scalable way, and Terragraph, a gigabit wireless […]
The Buenos Ayres Argentinian Bar & Grill, a 21-year resident of the Condado sector in San Juan, will be moving to another familiar location in Punta Las Marías, occupied by the former Che’s restaurant, this media outlet confirmed. The move is slated to happen in December. The new restaurant will be part of a broader […]
In the face of recent weather disturbances, FEMA along with Puerto Rico’s Central Office for Recovery, Reconstruction and Resilience, or COR3, approved more than $16 million in additional grants for repairs after Hurricane María, the agencies confirmed. The allocated funds are for the week of July 24-30 and cover 88 projects related to the island’s post-storm recovery and reconstruction. Among the […]
Evertec Inc. today announced results for the second quarter ended June 30, 2020, which reflected a revenue decrease of 4% to $117.9 million, compared with $122.5 million in the prior year. The revenue decline in the quarter reflected a slowdown in transactions resulting from COVID-19 with sequential monthly recovery as businesses reopened in Puerto Rico […]
In testimony submitted to the U.S. House Committee on Natural Resources, Institute for Energy Economics and Financial Analysis (IEEFA)’s Director of Finance Tom Sanzillo warned of “significant problems” with a recent agreement for LUMA Energy to take over transmission and distribution (T&D) of Puerto Rico’s electric power grid. The agreement that the government announced in June […]
Discover Puerto Rico announced that as a result of the government’s delay in the opening date for inbound tourism — shifting to only accepting essential travelers — traffic and hotel demand have dropped. The island’s destination marketing organization cited data from STR — an analytics and marketplace insights firm — that shows that hotel demand […]
Four months after closing its merger with Sprint, wireless carrier T-Mobile announced it has wrapped up unifying the brands as one across the U.S. mainland and Puerto Rico. T-Mobile rebranded 20 Sprint stores across Puerto Rico and the U.S. Virgin Islands, pushing its new number of stores, kiosks, mobile units and trailers to 70, company […]
Wireless carrier AT&T announced that its 5G network is now live for consumers and businesses across the country, including 18 additional towns in Puerto Rico. The carrier’s 5G coverage now includes: Adjuntas; Ceiba; Ciales; Guánica; Guayanilla; Jayuya; Lajas; Lares; Las Marías; Maricao; Morovis; Naguabo; Orocovis; Peñuelas; Sabana Grande; San Sebastián; Utuado; and Yauco. “5G is […]
As part of a comprehensive infrastructure and technology investment plan that exceeded $9 million, the Sagrada Familia credit union inaugurated a new branch in Naranjito, which also houses its first mortgage center in the mountain region. The recently inaugurated building represents the completion of a modernization period the cooperative began several years ago, which included […]
The Puerto Rico Ports Authority, which owns the Luis Muñoz Marín International Airport in Carolina, will receive more than $2.5 million under the Federal Emergency Management Agency’s Hazard Mitigation Grant program. The funds are for the proposed design and installation of a combined heat and power generation system at the facility, the federal agency said. The project […]
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA