Insurance providers grouped under the Puerto Rico Association of Insurance Companies (ACODESE, in Spanish) have their different contingency plans ready to deal with any emergency that arises during the hurricane season that began June 1, the Association’s Executive Director Iraelia Pernas said. Pernas said that as part of the preparation process, and as a result […]
Six of 10 minors in Puerto Rico go to bed hungry and to battle against this reality caused by poverty, the Grupo Colón-Gerena established an alliance of food donations, as well as voluntary work with the nonprofit entity El Comedor de la Kennedy, by Chef Iván Clemente, who serves thousands of people every month. This […]
Urban Edge Properties announced it has completed the refinancing of its $119 million mortgage loan at The Outlets at Montehiedra in San Juan. The existing commercial real estate loan was due to mature in July 2021 and consisted of an $83 million senior note bearing interest at 5.33% and a $36 million junior note, including […]
In the face of the food emergency associated with the COVID-19 pandemic, the Food Bank of Puerto Rico and a number of heavy-hitting partners have destined a combined $1 million in vouchers, certificates and gift cards to needy sectors to buy food in certain establishments, the nonprofit announced. The initiative is possible through alliances with […]
The Puerto Rico Ports Authority resumed the repavement of critical areas on Avenida C in the Puerto Nuevo Port Zone, agency Acting Executive Director Joel A. Pizá-Batiz announced. The resurfacing works represent an investment of $352,865 and had been temporarily interrupted in March due to the COVID-19 global pandemic, and should be completed in two […]
The government has authorized $49.5 million in funding to assist Puerto Rico’s private hospitals reimburse expenses related to the COVID-19 emergency. Gov. Wanda Vázquez said the funding comes from the Private Hospital Assistance Program, included in the Strategic Disbursement Plan under the CARES Act. “We recognize the challenges that our hospital institutions have had due […]
The Department of Transportation and Public Works (DTOP, in Spanish) announced an initiative to help residents who need current documents for emergency travel, medical treatments, vehicle exports, among others, during the shutdown of the government’s Driver Service Centers (CESCO, in Spanish). The special procedure will allow CESCO staff, “who have been provided with the necessary […]
Starting today, the Puerto Rico Labor Department is moving its “drive-up” unemployment benefits document drop-off service to the Puerto Rico Convention Center in the Miramar sector of San Juan, agency Secretary Briseida Torres said. “Given the reopening of business activity and the need to provide a more efficient service to applicants, we decided to move […]
Impactivo and Day Health Strategies (DHS) have joined efforts to assist the nation’s primary healthcare providers and enable them to move forward in a world changed by COVID-19. The consultancies have partnered with researchers and practitioners nationwide to inform their newly launched “at-home healthcare solution” in the recently released white paper entitled, “Primary Care Transformation […]
The direct impact of the COVID-19 emergency on Puerto Rico’s economy has been revised upward to $9.7 billion, from an initial $6.9 billion, economic analysis firm Estudios Técnicos revealed. The 40.5% increase responds to an update of the parameters associated with the lockdown period and the month-equivalent magnitude of the initial impacts, the firm said. […]
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and […]
Communications systems used to handle emergencies on the island as well as several Puerto Rico Police buildings will benefit from more than $1.6 million in grants awarded under the Federal Emergency Management Agency’s Public Assistance program, the agency announced. The funds will help those in uniform to continue providing vital safety services to communities, it […]
Popular Inc. announced the completion of its $500 million accelerated common stock repurchase transaction announced for 2020. The completion came earlier than expected, as the counterparty in the transaction exercised its right under the agreement to implement the early termination date clause when the trading price of Popular’s common stock fell below a specified level […]
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, […]
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