Puerto Rico’s Office of Financial Institutions Commissioner George Joyner said although the deal is pending regulatory approvals, he sees “no major obstacle” for Oriental’s acquisition of Scotiabank de Puerto Rico’s assets to happen. In an interview on the “En Una Hora” program that airs on 11Q 1140 AM, in which News is my Business participates, […]
A bolder and reimagined Freedom of the Seas cruise ship will set sail from San Juan starting March 2020 after undergoing a $116 million renovation, parent company Royal Caribbean announced. The ship’s makeover will include a redesigned pool area — including the “Perfect Storm” duo of waterslides — an array of restaurants and transformed kids […]
The Opportunity Zones Priority Projects Committee has established a list of qualified commercial activities by geographical area for the development of priority projects, pursuant to Law 60-2019, as the government revealed. Committee Chair and the government’s CFO, Omar J. Marrero, said this ordinary process is “an important step toward facilitating this investment mechanism and reinforcing […]
The U.S. Department of Agriculture is awarding additional $9.3 million through the Rural Energy for America Program (REAP) for renewable energy and energy efficiency projects to reduce energy cost for farmers, agricultural producers and rural-based business and institutions. USDA Rural Development State Director for Puerto Rico Josué E. Rivera said the new round of funding […]
Following a U.S. Department of Labor Wage and Hour Division (WHD) investigation, Xperts Inc. — a San Juan-based disaster response contractor — has paid $1,341,829 in back wages to 1,853 employees to resolve violations to several agency regulations. The federal agency announced it found breaches to the McNamara-O’Hara Service Contract Act (SCA), the Contract Work […]
Puerto Rico’s Resident Commissioner in Washington, Jenniffer González introduced the Territories Medicare Prescription Drug Assistance Equality Act, a bipartisan bill to make premium and cost-sharing subsidies available to low-income Medicare Part D beneficiaries who live in Puerto Rico and other U.S. territories. Medicare Part D is a voluntary outpatient prescription drug benefit for people with […]
The Puerto Rico Ports Authority will announce the companies chosen to enter into a public-private partnership to repair, design run and manage the cruise ship ports in the San Juan bay. Agency Executive Director Anthony Maceira confirmed the information after meeting with shipping agents and members of the of the Puerto Rico Shipowers Association to […]
The Puerto Rico Agriculture Department will strengthen the promotion and sale of agricultural products marketed under the DelPaís brand through an agreement signed between the its Agricultural Development Innovation Fund division and Supermercados Selectos. Ruth L. Pagán, executive director of FIDA, as the division is known for its initials in Spanish, said together with Agriculture […]
The Central Office of Recovery, Reconstruction and Resiliency, known as COR3, has issued a request for proposal to implement a Private Property Debris Removal and Demolition program, to be funded by Federal Emergency Management Agency. “The debris removal and demolition process of a private structure that may pose a risk to the environment entails a […]
V2A, a strategic planning and operational development consulting firm with more than 15 years of experience in counseling executive teams from a variety of business sectors, announced the establishment of the Visioneer Scholarship Program. This educational scholarship offers $3,000 to an outstanding university student, combined with an opportunity to be a part of the firm’s […]
Six months after breaking ground on the $50 million Zafira hotel and time share property in Vieques, developer Keith St. Clair confirmed construction will begin this week. The project was held back by a permit required by U.S. Fish and Wildlife, aimed at protecting turtle nesting areas on the beach at the Esperanza sector of […]
An arbitration panel awarded customers of UBS Wealth Management in Puerto Rico more than $4.8 million in their lawsuit against the brokerage firm, according to law firm Shepherd, Smith, Edwards & Kantas. The firm has filed and continue to pursue lawsuits against the brokerage firms and its brokers that were “involved in selling these toxic […]
The United Automobile Importers Group announced that a total of 7,631 new cars were sold in Puerto Rico last month, representing a 21.2% decrease compared to the 9,724 units sold during the same month last year. The trade group known as GUIA for its initials in Spanish, said the segments that saw the biggest sales […]
The improvement project underway at the Mercedita International Airport in Ponce are moving ahead as scheduled, representing an investment of $11.8 million Puerto Rico Ports Authority executive director Anthony Maceira said. Mercedita is the island’s third-largest airport on the island based on passenger volume. For fiscal year 2018-2019, which ended June 30, Ponce’s Mercedita Airport […]
The Puerto Rico Fiscal Agency and Financial Advisory Authority (known as AAFAF in Spanish) published a Request for Qualifications (RFQ) that seeks to identify qualified parties to manage properties owned by the Puerto Rico Industrial Development Company. The RFQ is meant to identify one or more qualified parties who manage properties, which include lands and […]
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