Puerto Rico Gov. Vázquez extends curfew to May 25, allows gradual reopening of economy
May 1, 2020
Gov. Wanda Vázquez announced the extension of the islandwide curfew to May 25, while allowing a limited reopening of certain industries, businesses and services under specific conditions. In a pre-recorded message, Vázquez said the gradual reactivation of the island’s economy — which has been under shelter-in-place and business lock-down orders since Mar. 16 to fight […]
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Banco Popular receives 127K applications for loan moratoriums
May 1, 2020
Banco Popular de Puerto Rico has received a total of 127,000 moratorium applications, split between auto, personal and mortgage loans, Popular Inc. CEO Ignacio Álvarez confirmed. Of that number, 100,000 are in its own portfolio, and the remaining 27,000 are mortgage loans owned by third-parties such as Fannie Mae, Freddie Mac and the Federal Housing […]
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First BanCorp. reports net income of $2.3M in 1Q20
May 1, 2020
First BanCorp., the bank holding company for FirstBank Puerto Rico (reported net income of $2.3 million, or $0.01 per diluted share, for the first quarter of 2020, compared to $36.4 million, or $0.16 per diluted share, for the fourth quarter of 2019, and $43.3 million, or $0.20 per diluted share, for the first quarter of […]
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FEMA allocates $6.8M to repair Luis A. Ferré Performing Arts Center
May 1, 2020
The Federal Emergency Management Agency has awarded a $6.8 million grant to the Luis A. Ferré Performing Arts Center in San Juan, an iconic cultural center with a 39-year history of history of hosting more than 15,000 events. The grant was assigned in April 24, FEMA said. After Hurricane María, the steps leading up to […]
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Puerto Rico Tourism Co. creates health & safety certification program
May 1, 2020
Recognizing the need for new standards of cleaning, disinfection, hygiene, and the competitive advantage that the implementation of additional measures provide for the island as a tourist destination, the Puerto Rico Tourism Company announced the creation of a program to grant a gold-star validation seal to tourism-related businesses. This certification (or badge) will be granted […]
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Puerto Rico lands ‘air hub’ status from U.S. Dept. of Transportation
April 30, 2020
The U.S. Department of Transportation has granted a waiver to allow foreign air carriers to provide certain expanded cargo and passenger transfer services at Puerto Rico’s international airports over a two-year term, the agency announced. With its decision, Puerto Rico becomes the first U.S. territory in the Caribbean to become a “hub” for foreign air […]
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U.S. Dept. of Commerce invests $13M to build disaster resilient biz incubator
April 30, 2020
The U.S. Department of Commerce’s Economic Development Administration is awarding a $13 million grant to the University of Puerto Rico in Ponce to establish a disaster resilient research and business facility to support high-growth businesses focused on the health and medical tourism industries. The EDA grant, to be located in a Tax Cuts and Jobs […]
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OFG Bancorp reports $131.3M in 1Q20 revenue, remains well-capitalized in pandemic
April 30, 2020
OFG Bancorp, parent of Oriental bank, reported $131.3 million in revenue for the first quarter ended Mar. 31, 2020, with a strong increase in due to its acquisition of the Puerto Rico and U.S. Virgin Islands operations of The Bank of Nova Scotia (Scotiabank), bank officials said. Upon disclosing its latest results, the financial institution […]
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Telecom industry ready to reopen at ‘full’ capacity, with security protocols
April 30, 2020
Puerto Rico’s telecommunications industry is ready to operate at its “maximum capacity,” taking the necessary measures to preserve the health and safety of its customers and employees, Felipe Hernández, president of the Puerto Rican Telecommunications Alliance said. The executive stressed that the sector is “not only important for consumers, but is also a fundamental pillar […]
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Science Trust allocates $600K for projects to combat COVID-19
April 30, 2020
The Puerto Rico Science, Technology and Research Trust Grant Program has selected six projects from local institutions with innovative projects to combat the COVID-19 virus on the island, it announced. The program, which was designed to select five winners with a total budget of $500,000, was expanded to include six winners, who split $600,000. The […]
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Oversight Board unveils plan to help municipalities pay retirement benefits
April 29, 2020
The Financial Oversight and Management Board for Puerto Rico today presented the Municipal Revenues Collection Center (CRIM, in Spanish), Puerto Rico’s municipalities, and the government of Puerto Rico a repayment plan for towns to reimburse the Commonwealth for the retirement benefits paid to municipal retirees. The repeal of Puerto Rico Law 29-2019 by the U.S. […]
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Apple Maps expands COVID-19 testing location database to Puerto Rico
April 29, 2020
Puerto Rico residents can now find COVID-19 testing locations in Puerto Rico through the Apple Maps database, which has been extended throughout the U.S. mainland and the island, tech giant Apple announced. A few weeks ago, the company released a mobility data trends tool for Apple Maps “to support the impactful work happening around the […]
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Organizations join forces to aid Puerto Rico’s creative professionals
April 29, 2020
Gener8tor, MECA International Art Fair (MECA), the Museum of Art and Design of Miramar (MADMi), and LA-X announced the availability of an Emergency Response Program for Puerto Rico’s creative professionals, consisting of a one-week virtual agenda designed to help artists, musicians, designers and other creative professionals identify, understand and secure resources to withstand the crisis […]
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Walgreens to open 49 drive-thru’s to expand COVID-19 testing in U.S., Puerto Rico
April 28, 2020
Walgreens announced plans to open COVID-19 testing locations in 49 U.S. states and Puerto Rico, as it further expands drive-thru testing to help meet the growing need in communities nationwide. To date, Walgreens has opened 18 COVID-19 drive-thru testing locations across 11 states and expects to have 23 sites open in 15 states by the […]
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Caribbean Produce, Puerto Rico farmers ship 16K lbs. of fruit, vegetables to Bronx
April 28, 2020
Caribbean Produce Exchange Inc. joined forces with a group of local farmers to export a container full of fresh fruits, plantains and other “Son de Aquí” local products to the Puerto Rican and Hispanic communities of South Bronx affected by the COVID-19 pandemic. As part of CPE’s social commitment and mission to nurture families with […]
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