The Puerto Rico Science, Technology and Research Trust was selected as one of the 44 nonprofit entities will receive funding from the U.S. Economic Development Administration’s Regional Innovation Strategies Program, which will award a total of $23 million to expand high impact entrepreneurship. The Trust will launch the Investor Bridge Project based on Puerto Rico’s […]
The Luis Muñoz Marín International Airport in Carolina will receive a $1.5 million grant from the U.S. Department of Transportation to rehabilitate a runway, the federal agency said. The funding will come through the Federal Aviation Administration, which will award a total of $478 million in airport infrastructure grants, the fourth allotment of the total […]
Gov. Ricardo Rosselló signed the Puerto Rico Betting Commission Act, which for the first time authorizes betting on sporting events, electronic games and fantasy competitions on the island. This includes online bets that originate in Puerto Rico. “With the signing of this law, we prepare to witness the potential it provides to make Puerto Rico […]
With the aim of promoting entrepreneurship among young people between the ages of 18-35 by helping them acquire the skills necessary to develop or strengthen an enterprise, FirstBank has granted a donation of $15,000 to the Entrepreneurial Training Program for Young Adults of the Center for Puerto Rico. The Center is the operational arm of […]
The Department of Economic Development and Commerce disbursed $3.5 million to pay bonds and part of the incentives previously granted by the Green Energy Fund under its Public Energy Policy Program. “After several procedures with the Treasury Department, we began the disbursement of some $3,179,200 for incentives and other additional payments, which amount to $328,280 […]
Puerto Rico Treasury Secretary Francisco Parés recently met with representatives of the Private Sector Coalition to present 10 priority projects and reaffirm his commitment to the agency and with taxpayers. During the meeting, he discussed critical projects, the actions taken since his appointment and Treasury’s strategic plan, which emphasizes the transformation of the organizational culture […]
Driving a new car is always an exciting experience: the new car smell, the next-generation features and the sleek exterior designs that by and large evolve from year to year. Over the past few weekends, this media outlet has had the opportunity to test drive two vehicles, the Toyota RAV4 and the Lexus UX Sport, […]
World Central Kitchen (WCK) welcomed 22 projects to its comprehensive support platform to promote sustainable food projects on the island called Plow to Plate, which offers direct financial support and training to small farmers, agribusinesses, community-based projects, and business initiatives in the food sector. The goal is to help these entities revitalize their operations after […]
Nearly three months after filing for Chapter 11 bankruptcy protection, Kona Grill announced the closing of its only restaurant in Puerto Rico, at The Mall of San Juan. It opened in 2015. The eatery confirmed the decision in a notice sent via email saying “we want to thank all our guests for their past patronage […]
OFG Bancorp, parent company of Oriental Bank, announced the Virgin Islands Banking Board approved the first regulatory step related to the acquisition of Scotiabank’s U.S. Virgin Island operations. The permit authorizes Oriental to organize a bank in the territory. To assume Scotiabank’s operations and start serving customers in the USVI, Oriental will also need a license and approval from […]
Discover Puerto Rico, the island’s Destination Marketing Organization, said in a statement that a “decision was needed to maintain tourist, investor, and public confidence in Puerto Rico and for the island to continue its strong path to recovery.” The DMO’s comments were in reference to Gov. Ricardo Rosselló’s resignation following nearly two weeks of widespread […]
Citing the “ongoing leadership changes within the Puerto Rican government,” the Federal Emergency Management Agency announced its decision to reinstate the manual drawdown process for the Commonwealth of Puerto Rico as an additional step to protect the federal investment. Effective immediately, the Commonwealth must receive approval from the agency to drawdown grant funds for Hurricanes […]
Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $171.1 million for the quarter ended June 30, 2019, compared to net income of $167.9 million for the quarter ended March 31, 2019. But when compared quarter-to-quarter, the financial institution revealed a 39% drop this quarter when compared to the same […]
Puerto Rico Pathology, which has been serving the island for 65 years, has invested $7.5 million in a new state-of-the-art, 50,000 square-foot lab to continue offering services on the island and the Caribbean. In an interview on the “En Una Hora” program on 11Q 1140 AM, in which News is my Business participates, Víctor Carlo, […]
Embattled Gov. Ricardo Rosselló-Nevares is resigning, becoming the first governor in Puerto Rico’s history not to end his term and to leave office pressured by hundreds of thousands of island residents and members of his own New Progressive Party. However, his resignation will be effective Aug. 2, 2019, at 5 p.m. he said in a […]
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