The closing event for Startup Hub Caribbean, a program by Facebook and Puerto Rican accelerator parallel18, showcased the growth and impact of 10 startups that are helping improve their communities’ access to high-quality education, jobs, and technology. The Demo Day took place in parallel18’s HQ, in San Juan and was the final phase of a […]
National Public Finance Guarantee Corporation and MBIA Insurance Corporation filed suit in the San Juan Superior Court against eight Wall Street banks to hold them accountable for “inequitable conduct in Puerto Rico’s municipal bond market that contributed to Puerto Rico’s economic collapse.” Plaintiffs are bond insurers that have been presented with more than $1 billion […]
Liberty Puerto Rico reported consistent revenue and subscriber growth for the second quarter of the year, according to its financial results report. The company added more than 5,000 customers this quarter, driven by its growth in high speed data subscribers. Liberty’s second quarter 2019 revenue stands at $103.8 million, which represents a 5.3% increase from […]
Entrepreneurs Carlos García and Leandro Armas, leaders of HYP3R, were admitted to Endeavor’s global network as part of the new group of Endeavor Entrepreneurs selected this summer in Tokyo, Japan, Erika Medina-Vecchini, Managing Director of Endeavor Puerto Rico announced. The partners at HYP3R, one of the most innovative technology companies in the tourism sector, are […]
Business leaders and government officials representing Puerto Rico, Dominica and St. Maarten spoke about their respective recovery and resiliency strategies during the Bisnow Caribbean Hospitality and Tourism Summit held Aug. 1, 2019 in Miami. The event sponsored by the Puerto Rico Builders Association drew more than 200 investors, developers, hotel operators and other industry professionals. […]
Puerto Rico’s Economic Activity Index — which measures the performance of key indicators — showed a 0.7% year-over-year drop in June 2019, according to the data released by the Economic Development Bank. This was the first year-over-year decrease after 11 months of consecutive increases, the report showed. According to the document, the annual comparison is […]
On the eve of becoming Puerto Rico’s first governor to resign from his post, Ricardo Rosselló signed a pair of laws whose net effect is to hinder access to public information and limit free expression, nonprofit group Open Spaces denounced. Cecille Blondet, executive director of Open Spaces said Rosselló stamped his signature on Acts 122 […]
Preliminary net revenues to the General Fund for the recently ended FY2019 totaled $11.3 billion, Puerto Rico Treasury Secretary Francisco Parés-Alicea announced, adding the figure is a “new record number for revenue collections.” On a year-over-year comparison, revenues were up by $2.06 billion, or 22%. In addition, revenues exceeded three projections prepared by the Financial […]
Columbia Care Inc. has received approval from the Puerto Rico Department of Health to open for business, with a medicinal cannabis dispensary in San Juan and 25,000 square-foot cultivation and manufacturing operation in Cidra. The 2,800 square-foot San Juan clinic and its Cidra facility are scheduled to open this month, with two additional dispensaries expected […]
Puerto Rico’s bankruptcy levels showed an 8.26% year-over-year drop last month, when the total number of companies and individuals who turned to the U.S. Bankruptcy Court for help totaled 589 cases, according to data released by research firm Boletín de Puerto Rico. The current number compares to the 642 petitions filed at the local court […]
Chemesis International Inc. has entered into an agreement to buy a majority of the shares of GSRX, which has five medicinal cannabis dispensaries in Puerto Rico, the companies announced. The transaction calls for Chemesis to acquire more than 42.6 million common shares and 1,000 preferred shares of GSRX, in exchange for an some 18.9 million […]
The 2019 Virtual Reality Summer Summer Camp, hosted by the Puerto Rico Science, Technology and Research Trust, ended successfully on Aug. 2, benefitting some 200 students from public and private schools. Middle and high-school students, including home-schooled kids, took part in the program split between 39% females and 61% males in the Ponce and San […]
Starting this fall, low-cost carrier Frontier Airlines will launch three weekly flights from Miami International Airport to Luis Muñoz Marín International Airport in Carolina starting Nov. 14, it announced. The new frequencies will begin Nov. 14 and are part of its expanded schedule at Miami International Airport to a total of 28 weekly flights and […]
Evertec Inc. announced revenue growth of 8% to $122.5 million for the second quarter ended June 30, 2019. Adjusted earnings per common share was $0.51, an increase of 11%, while Adjusted EBITDA increased 7% to $57.8 million during the quarter. For the six months ended on the same date, Evertec posted 8% revenue growth to […]
Twenty-five Puerto Rican healthcare nonprofits are set to receive a much-needed $8 million cash infusion from Direct Relief, the largest private, nongovernmental provider of health resources to Puerto Rico since Hurricane María. Recipients of the $8 million in grants will be announced Aug. 7, at La Ciudad de la Salud y Bienestar, a Direct Relief-sponsored event […]
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