A survey conducted by nonprofit Mentes Puertorriqueñas en Acción of 535 Puerto Rico college students confirmed many of them have experienced a financial blow from the COVID-19 pandemic and curfew. The data shows that more than two thirds of the students have seen a reduction in their income. A number of them students were unemployed, […]
The economic crisis Puerto Rico is facing while in the grip of the COVID-19 pandemic requires forceful action on the part of the government and Financial Oversight and Management Board for Puerto Rico, according to nonprofit Espacios Abiertos. “When we analyze the international context and Puerto Rico’s situation in light of the economic projections contained […]
U.S. Department of Housing and Urban Development Secretary Ben Carson announced the assignment of $241,205 to Puerto Rico, as part of nearly $77 million nationwide in a fourth wave of CARES Act funding supporting up to 8,300 additional vouchers. Funding for the island will benefit the Puerto Rico Public Housing Administration ($140,143), the Municipality of […]
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, announced the disbursement of more than $37 million in additional funds for 121 projects approved between May 8-14. As social distancing measures continue to safeguard residents, FEMA and COR3 remain focused on prioritizing obligations of funds to municipalities for […]
The global auto industry is facing an economic context that will affect sales processes and customer relations for years to come, according to a study by San Juan-based research firm Abexus Analytics. That trend will be no different in Puerto Rico, where new car sales have plummeted by 96% since the island went into lock-down […]
Puerto Rican consumer food and fresh food distributor, Caribbean Produce Exchange Inc., announced the creation of a coalition of multiple food industry sectors and the local Agriculture Department to participate in the U.S. Department of Agriculture’s “Farmers to Families Food Box Program.” Through the initiative, the coalition will use $107 million in grant funding to […]
The Puerto Rico Ports Authority will be opening bids to hire contractors to carry out necessary improvements to the runways at the Isla Grande and Vieques regional airports, representing an investment of some $15 million, agency Interim Executive Director Joel A. Pizá announced. “Ports carried out a pavement inspection program at all airports, including Isla […]
The Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF, in Spanish) chose Gaming Laboratories International (GLI) to provide consulting and advisory services to the Puerto Rico Gaming Commission, created by virtue of Act 81-2019, the agency announced. GLI will assist the Commission in the drafting of the regulations governing the operations, and providing consulting […]
The U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, released the Paycheck Protection Program (PPP) loan forgiveness application and detailed instructions for the process. “The documents released will help small businesses seek forgiveness at the conclusion of the eight-week period covered under the law, which begins with the disbursement of […]
The Federal Emergency Management Agency has obligated nearly $5.4 million in funds for emergency measures and permanent work projects to repair hospitals and healthcare facilities managed by the Puerto Rico Mental Health and Anti-Addiction Services Administration, known as ASSMCA, by its Spanish acronym. Among the 50 approved projects, $2.4 million has been assigned for eight […]
DDB advertising agency executives from Singapore and China, countries that went through the COVID-19 pandemic before it reached this side of the world, said experience has taught them that businesses must start focusing on long-term solutions, not just what works today. In a virtual presentation in coordination with DDB Latina Puerto Rico David Tang, CEO […]
Banking industry professional Aysha Issa has been elected the Puerto Rico Products Association’s new president, responsible for overseeing the work of the organization for the next year. During an electronic vote, the trade group’s members also selected a new board of directors, and all were sworn-in by Judge Mari Tere Colón-Domínguez over the weekend. “I […]
Puerto Rico Gov. Wanda Vázquez will sign an Executive Order that adopts the Strategic Disbursement Plan of the $2.2 billion from the Coronavirus Relief Fund created through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The document, prepared in accordance with the parameters established by the U.S. Department of Treasury, contains dozens of […]
The Convention Center District Authority, which runs the Puerto Rico Convention Center and the José Miguel Agrelot Coliseum, will launch — as early as this weekend — a series of live, virtual entertainment events that people will be able to enjoy from their homes. The events follow the approval of a special waiver by Gov. […]
In an effort to strengthen its commitment to support students heading toward a career in the industry of science, technology, engineering, and math (STEM), Evertec announced the 6th edition of its scholarship program. This year, the company hopes to help students continue their bachelor’s, master’s, and doctoral degrees in universities island wide, executives said. Applicants […]
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