Invest Puerto Rico, the island’s new economic development engine, shared its data-driven plan to promote Puerto Rico as an investment destination and help usher in the island’s “next great economic transformation,” said CEO Rodrick Miller. The promotional plan, based on extensive research and analysis of global megatrends, economic data, perceptions, disruptive factors and Puerto Rico’s […]
The Puerto Rico Teachers Federation Credit Union (FedeCoop, for its initials in Spanish) recently inaugurated its new headquarters in Río Piedras, for which it invested $3.7 million. During the past 10 years, the institution has had growth that has led it to hire more staff and expand its facilities. The new facilities have a drive-thru […]
Low-fare carrier Frontier Airlines announced four new routes from the Luis Muñoz Marin International Airport to Baltimore, Boston, Chicago and its first international service from San Juan to the airline’s most recent Caribbean destination: Santo Domingo, Dominican Republic. Frontier serves 11 destinations with direct service from San Juan. The new routes were part of a […]
New car sales for the month of November totaled 10,503 in Puerto Rico, up 5% year-over-year from the 10,001 units sold in the same month in 2018, he United Group of Automobile Importers confirmed. GUIA, as the trade organization is known for its initials in Spanish, said, however, that new car sales so far this […]
Philadelphia-based Cuba Libre Restaurant & Rum Bar will open its first restaurant outside the U.S. mainland at the Plaza Las Américas mall in January 2021, the company announced. The planned 10,000 square foot restaurant will represent an investment of $8.6 million and is expected to create more than 200 new restaurant and construction jobs. Cuba […]
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, have obligated more than $5.4 million in additional funds for 44 recovery and reconstruction projects in Puerto Rico. The funds were obligated on Dec. 5-12. FEMA and COR3 continue to work together to develop strategies that advance recovery projects. […]
The Puerto Rico Economic Development Bank’s Economic Activity index reached 121.6 in October 2019, a 0.4% increase compared to October 2018, the first positive growth after four year- over-year consecutive declines, and a 0.3% rise when compared to September 2019. The annual comparison is with respect to October 2018, when electricity was restored to those […]
The Puerto Rico Techno Economic Corridor inaugurated Growponics, a high-technology hydroponic nursery in Isabela following an investment of more than $1.6 million in its first phase, and creating eight direct jobs. The project, designed for planting and harvesting green vegetables, is part of the Finca Explora ecosystem, the island’s first agro-technological incubator located in the […]
Many consumers are in a sprint to the finish getting their holiday gifts and greetings in the mail. This week is anticipated to be the busiest of the holiday mailing and shipping season for delivery services such as the U.S. Postal Service and FedEx. While the government agency expects to process and deliver nearly 2.5 […]
OFG Bancorp announced it has received final regulatory approval and related licenses from the U.S. Virgin Islands Banking Board required for its subsidiary, Oriental Bank, to close the previously announced acquisition of Scotiabank’s USVI operations. The approval comes less than a week after the financial institution announced it had received the OK from the Board […]
Banco Popular de Puerto Rico is looking for artificial intelligence (AI) experts to optimize the bank’s operations, services and products, using this technology as a guide to create innovative solutions, it announced. In recent years, this talent — which comes from on universities in Puerto Rico and the U.S. mainland such as: the University of […]
Miami-based registered investment advisory firm GenTrust will open an office in San Juan, to carry out its fiduciary duty to its clients, company officials announced. According to a report published by CityWire, GenTrust handles some $400 million in assets for clients based in Puerto Rico. “Our team has more than two decades of experience servicing […]
“Hecho en Puerto Rico: La Tienda,” located on the third level of Plaza Las Américas, unveiled its new mobile app, called Tupyx, which will allow users to order, deliver or pick-up their purchases at the store. “This is an example of how technology can attract customers to “Hecho en Puerto Rico: La Tienda,” and at […]
Some 20 entrepreneurs were honored last night during Grupo Guayacán Inc.’s year-end event. The business training organization awarded more than $200,000 in seed capital prizes to foster the development of a group of 17 emerging companies. As part of the awards ceremony held at the Puerto Rico Museum of Art, the winners of the 14th […]
Under the slogan “The party stays here this Christmas,” the Puerto Rico Tourism Co. launched its new advertising effort that seeks to boost local hotel room reservations during the holiday season. An increase of 9,000 hotel room reservations would represent an additional $19 million in revenue for hotels and another $1.8 million in room tax […]
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