The U.S. Department of Agriculture announced it has approved a $2.2 million loan to the municipality of Cabo Rojo, to improve the town’s landfill operations. The assignment is part of a global $281 million that the federal agency is investing in 106 rural water and wastewater infrastructure improvement projects in 36 states and Puerto Rico, […]
The Federal Reserve Bank of New York today announced a new format for the “High School Fed Challenge,” an annual competition designed to enhance and promote economic education. Any high school in the Federal Reserve’s second district — which includes New York State, Northern New Jersey, Puerto Rico, the U.S. Virgin Islands, and Fairfield County, […]
The Puerto Rico Workers Federation, AFL-CIO, headed a group of about 35 unions who met with Gov. Wanda Vázquez and administration officials to present a list of suggestions to “ensure the health and safety of all workers” as the island’s economy reopens amid the COVID-19 health crisis. During a meeting at the Puerto Rico Convention […]
The Financial Oversight and Management Board for Puerto Rico today presented the 2020 Fiscal Plan for the Commonwealth of Puerto Rico for certification, which calls for, among other actions, a one-year delay in most government rightsizing activity to allow it to focus on structural reforms and efficiency measures. The document will be up for the […]
The Puerto Rico Labor Department has disbursed nearly $727 million in unemployment benefits to more than 210,000 beneficiaries since April 1, agency Secretary Briseida Torres said. She said $569 million have been disbursed from the regular Unemployment Insurance Program in the past two months, including federal supplementary aid approved by the CARES Act, since April […]
Puerto Rico restaurants have been given the green light to reopen for business, at reduced capacity and under physical distancing restrictions that are prompting most to reboot to move forward. One major consequence of the distancing required to contain COVID-19 contagion is the virtual elimination of the self-serve buffet concept, which is now a thing […]
Liberty Latin America Ltd. announced that its subsidiary, Liberty Puerto Rico has issued $90 million in senior secured notes to support the funding needed for its acquisition of AT&T Puerto Rico’s assets on the island and the U.S. Virgin Islands. The sale of additional 6.75% Senior Secured Notes due 2027 was executed on a private […]
The Puerto Rico Ports Authority will open bidding processes to make needed improvements to the Culebra and Arecibo regional airports, representing a combined investment of some $11 million, the Interim Executive Director of Ports, Joel A. Pizá-Batiz, said. “Ports conducted a pavement inspection program at every airport, including Culebra and Arecibo, evaluating conditions according to […]
In anticipation of the reopening of his two salons in Guaynabo and Condado today, professional stylist Esteban Montes has activated a sweeping safety protocol to protect customers and employees from exposure to the COVID-19 virus, he confirmed. In an interview with this media outlet, Montes said the operational shutdown that began March 16 has represented […]
DDB Latina Puerto Rico and Buena Vibra Group announce the creation of the SPYN.LIVE platform, a digital tool that will change the entertainment industry. SPYN.LIVE will allow the consumer to live the experience of a virtual concert that will feature the traditional elements of face-to-face shows such as lights, screens, pyrotechnics, dancers and musicians, among […]
The Puerto Rico Hotel & Tourism Association confirmed that tourism and organization members are “ready for the staggered opening proposed by the government, and are ready to implement the necessary precautionary measures,” the group’s President Clarisa Jiménez said. “Since we’re aware that there will be a staggered reopening by the government for economic activities, we […]
U.S. Secretary of Agriculture Sonny Perdue today announced that the agency is making available up to $1 billion in loan guarantees to help rural businesses meet their working capital needs during the coronavirus pandemic. Additionally, agricultural producers that are not eligible for USDA Farm Service Agency loans may receive funding under USDA Business & Industry […]
Colmena66, a program of the Puerto Rico Science, Technology and Research Trust, shared the results of its “Levanta tu Negocio Puerto Rico” survey, which among other things, revealed that 86% of participating businesses lack a contingency fund for unforeseen situations. The survey began on Mar. 20 and during the first five weeks, 625 responses were […]
At a time when the workforce is undergoing great changes and facing new challenges, a new report by professional services company Aon unveiled the current state of Puerto Rico’s benefits strategies and programs. The Puerto Rico Benefits Outlook 2019: Redefining Benefits study surveyed 85 organizations from several business sectors and sizes participated, such as: manufacturing; […]
The Puerto Rico Treasury Department has begun the second phase of the Economic Impact plan, which calls for sending $1,200 to taxpayers who filed their 2018 returns. Those deposits follow the disbursements to taxpayers who filed their returns for 2019, and provided their banking information to the agency. On Tuesday, the agency disbursed nearly $48 […]
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