The Inter American University officially broke ground on its new $36.9 million student housing complex, which it will include in its internationalization plan of recruiting students from other countries to offer the opportunity of cultural and social exchange. The new residence hall to be located at the college’s San Juan metro campus, will address the […]
Innovation and entrepreneurship platform INprende will co-host an event for women-owned agribusinesses and female farmers as part of a subsidies program created by the American Red Cross in collaboration with the Puerto Rico Science, Technology and Research Trust. The call to participate in the program was opened during the “Women Innovating in Agriculture” event. Applications […]
German company Sartorius inaugurated the expansion of its manufacturing facilities in Yauco, following an investment of $130 million, and the creation and retention of 895 jobs. “In mid-2018, we announced an increased commitment by Sartorius to expand the company to double its production, despite the difficult situations that we’re facing in Puerto Rico after the […]
Puerto Rico’s first specialty cheese eatery and tapas bar, Barra de Quesos will open this week in the Miramar sector of San Juan, after a $250,000 investment. Owner Lila Avalo, who is a chemical engineer and life-long cheese enthusiast, said the new 1,700 square-foot restaurant will create 15 direct and about 40 indirect jobs. In […]
Grupo Guayacán Inc. (GGI) announced the start of the 11th edition of the Guayacán Venture Accelerator (GVA), its business development program for established companies in search of new growth opportunities. The class of 2019 includes 11 companies and a nonprofit organization, for a total of 12 participants representing a wide variety of industries in Puerto […]
AT&T has invested nearly $350 million in its Puerto Rico wireless and wired networks during 2016-2018, the company announced The investments boost reliability, coverage, speed and overall performance for residents and businesses. The carrier has also improved critical services that support Public Safety and first responders using the FirstNet communications platform. In 2018, AT&T made […]
Agriculture Secretary Carlos Flores announced the recent expansion of the F&F Hydroponics agricultural project in Ciales, with a contribution of $250,000 from the agency’s Farm Investment Program, adding 13 new jobs to the agricultural region of Utuado. The project that specializes in growing a variety of the “salanovas” lettuce variety in structures featuring a controlled […]
The Financial Oversight and Management Board for Puerto Rico announced it reached an agreement with certain Commonwealth bondholders on the framework for a plan of adjustment to resolve $35 billion worth of debt and non-debt claims against the government. The agreement will reduce the amount of Commonwealth-related bonds outstanding to less than $12 billion, a […]
New car sales in Puerto Rico reflected a drop in May, when a total of 8,865 units were sold, representing a 3.1% drop in comparison to the 9,152 units sold during the same month last year. Statistics released by the United Automobile Importers Group (known as GUIA for its initials in Spanish,) also said the […]
Following the negative impact caused by the events of the past few years — the Zika virus scare in the Caribbean and Hurricanes Irma and María — Puerto Rico’s hotel industry is facing a wide range of opportunities for development and growth. That was the main conclusion reached by JLL Research in its “Hotel Destinations […]
Parallel18 (P18), a global business accelerator operating since 2015, announced the selection of 36 Puerto Rican companies that will participate in its pre-acceleration program, pre18. The companies will be part of a 12-week training curriculum, and each will receive a $20,000 grant for their projects. This initiative that was created after Hurricane María to support […]
Puerto Rico’s housing market improved between 2017 and 2018, after recovering from the impact of Hurricane María, showing a 78% increase in new homes sale and an 17% increase in previously owned homes, a study by the Estudios Técnicos research firm showed. However, despite the current improvement, Puerto Rico’s housing market will have to create […]
By Mc Nelly TorresCenter for Investigative Journalism Three days after Hurricane María, Isolina Miranda stared in disbelief at what was left of the two-story building where a community health center once stood in the heart of San Lorenzo, a town of 37,000 people in the eastern central region of the island. Miranda is the executive […]
The government of Puerto Rico announced it has entered into a restructuring support agreement for $165 million in Puerto Rico Industrial Development Company debt with GoldenTree Asset Management, holder of over two-thirds of the agency’s outstanding revenue bonds. The RSA contemplates a financial restructuring of the PRIDCO Bonds through a Qualifying Modification under Title VI […]
With the consensus of the island’s organized egg production sector, Agriculture Secretary Carlos Flores-Ortega, signed a new administrative order to require that all local and imported egg containers carry an expiration date effective July 1, 2019. At present, the imported product only contains the date when the eggs were packaged, with no expiration date for […]
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