Several business leaders from the southwest tourist regions expressed their gratitude for the general support they are receiving, saying they feel “optimistic about the level of socioeconomic recovery that they may reach in the coming months.” In a release, a group of businesses represented by several trade groups thanked mayors, lawmakers, artists, the Chambers of […]
President Bill Clinton and former Secretary of State Hillary Rodham Clinton will convene members of the Clinton Global Initiative (CGI) Action Network in San Juan for the fifth meeting since 2018, on Feb. 18-19. The Action Network brings together leaders from business, government, and civil society to make commitments to accelerate recovery from natural disasters […]
Financial services and insurance will lead the conversation in the 2020 Financial Services Forum to be held in San Juan, on Mar. 18-19 at the Condado Vanderbilt Hotel. The two-day conference will feature local and international speakers, and will focus on the benefits of the island as a destination for business, covering Puerto Rico’s international […]
National University College has joined the Education Department to offer online courses to help high school students residing in the island’s southern region affected by earthquakes complete their semester. The courses will be offered through NUC’s online division and its IBC Institute Extension Centers. Students who complete online courses with National University College may validate […]
High-speed business internet service provider AeroNet announced it will pilot Terragraph, a gigabit wireless technology by Facebook Connectivity, in Old San Juan. With Terragraph, AeroNet aims to deliver reliable and affordable high-speed broadband to the historic city. The trial deployment will improve on the city’s digital infrastructure and ensure greater availability of broadband services for […]
The Subway restaurant chain is celebrating its 35th anniversary in Puerto Rico, where it has 180 stores that have transformed over the years to satisfy local consumer tastes. In an interview with this media outlet, José Vázquez, vice president of Subway in Puerto Rico and who co-founded the chain in 1995 with business partner Lyle Swanson, […]
As a unique proposal and an innovative promise, the Aloft brand opened at El Distrito, said Federico Stubbe Jr., president of PRISA Group, developer of El Distrito, an entertainment center of Puerto Rico, which will soon open at the San Juan Convention District. Aloft San Juan entailed an investment of more than $50 million and […]
Family-owned company South Puerto Rico Towing & Boat Service Inc. is looking to grow this year due to financing totaling $11.7 million approved by FirstBank, the 504 program of the Small Business Administration (SBA), and COFFEC. The company will put the money toward the purchase of a tugboat, improvements to an existing tugboat, and debt […]
T-Mobile US Inc. and Sprint announced that after receiving a favorable decision in U.S. District Court for the Southern District of New York the companies are now taking final steps to complete their merger to create the New T-Mobile. “T-Mobile has redefined itself over the past decade as a maverick that has spurred the two […]
Icahn Automotive, an Icahn Enterprises L.P. company, which owns and operates Pep Boys, has completed its acquisition of Tecnicentros Mundial, a six-location automotive service chain in Puerto Rico. The financial terms of the agreement were not disclosed. The Tecnicentros Mundial locations in Caguas, San Juan Centro, Río Piedras, Campo Rico, Dorado, and Ponce will be […]
As part of its capital improvement program, the Puerto Rico Ports Authority has opened the bidding process to renovate the Antonio Rivera-Rodriguez airport in Vieques, at a cost of $1.5 million, the agency’s Interim Executive Director Joel A. Pizá-Batiz announced. The improvements include the replacement of the terminal’s metal roof, reconditioning the roof of the […]
A total of 496 bankruptcy cases were at the U.S. Bankruptcy Court in Puerto Rico during the month of January, representing a 2.3% drop from the same month last year, according to statistics released by analyst firm Boletín de Puerto Rico. The report shows that Chapter 13 personal reorganization cases prevailed, with 303 cases on […]
This year’s edition of the Financial Awareness Video Contest co-sponsored by the Puerto Rico Bankers Association and the Federal Reserve Bank of New York focused on the importance of implementing eco-friendly practices and the effective use of social networks as part of the strategies to develop and establish a profitable business. For more than 10 […]
Simon Property Group Inc. and Taubman Centers Inc. have entered into a definitive agreement under which Simon will acquire an 80% ownership interest in The Taubman Realty Group Limited Partnership (TRG), the companies announced. In Puerto Rico, Simon Property Group owns the Puerto Rico Premium Outlets in Barceloneta and the Plaza Carolina shopping center. […]
The Financial Oversight and Management Board for Puerto Rico has reached an agreement with certain Commonwealth bondholders to resolve $35 billion of debt and non-debt claims via a revised plan of adjustment. The new agreement reduces the Commonwealth’s debt service (including principal and interest from the COFINA Senior Lien bonds) by 56%, to $39.7 billion […]
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