Lodging demand on the island during the first quarter of 2019 is on par with levels reported during the same quarter in 2017, 14 months post-hurricane Maria, signaling an “unprecedented pace of recovery” for a destination, Destination Marketing Organization Discover Puerto Rico announced. Total demand for independent rentals is up 72% from first quarter 2017 […]
Net revenues to the General Fund totaled $1.2 billion in March 2019, a “new historic level for a month of March,” Puerto Rico Treasury Secretary Raúl Maldonado said. “This monthly revenue exceeded the Oct. 23, 2018 Certified Fiscal Plan revised projections by $259.1 million. This fiscal year, March has reflected the best performance compared to […]
The Puerto Rico Energy Bureau issued ordered the Puerto Rico Electric Power Authority to stop the implementation of a new tax that would generate an additional charge for customers using solar panels on the island, said the Solar Energy Storage Association. The transition charge would have resulted in the majority of customers with solar panels […]
The talent of two U.S. Naval Research Laboratory research engineers from Puerto Rico speaks to the promise and potential of a new generation of the science technology, engineering and mathematics (STEM) workforce. As college students, Freddie Santiago and Carlos Font inspired STEM programs in Puerto Rico that still operate today, gaining them an intellectual reputation […]
In the immediate aftermath of Hurricane María, an estimated 95% of the Caribbean island was without power or cell service, and more than half of the population did not have access to clean drinking water. Three months later, 45% of the population — more than 1.5 million individuals — were still without electrical service and […]
Wyndham Hotels & Resorts is incorporating the remodeled Candelero Beach Resort hotel in Palmas del Mar in Humacao into its portfolio of properties once again, company officials announced. The all-inclusive property underwent a $3 million renovation following Hurricane María in 2017, reopening as Wyndham Candelero Beach Resort this week. “We’re very proud of this new […]
The Hispanic Federation of Puerto Rico Recovery and Relief Fund, established after Hurricane María and administered by the Puerto Rico Community Foundation, granted 214 scholarships to college students in Puerto Rico totaling $190,000. Students from 58 towns on the island benefited from this financial support to continue their college studies, Foundation officials said. This is […]
“De Tu Closet a Mi Prom,” a nonprofit community event aimed at helping public high school senior girls with limited financial means get free donated prom dresses and accessories in exceptional condition, will return to the Verdanza Hotel in Isla Verde next week, hotel officials announced. This year Verdanza Hotel has decided not just to […]
Gov. Ricardo Rosselló delivered his third State of the Commonwealth address Thursday, vowing to implement a number of measures to reposition Puerto Rico and support its recovery. During his speech at the Puerto Rico Capitol building, Rosselló explained the need of an agenda that looks firmly into the future. “The solution to the problems is […]
First BanCorp. reported net income of $43.3 million, or $0.20 per diluted share, for the first quarter ended Mar. 31, 2019, compared to $101.1 million, or $0.46 per diluted share, for the fourth quarter of 2018, and $33.1 million, or $0.15 per diluted share, for the first quarter of 2018. The fourth quarter of 2018 […]
Discover Puerto Rico, Puerto Rico’s Destination Marketing Organization, announced the rollout of Puerto Rico’s brand campaign: “Have We Met Yet?” focusing on “the hospitable and welcoming nature of the island’s people.” By posing the question “Have We Met Yet?” the campaign seeks to reintroduce the island to the world and brings to life the exotic […]
A “business as usual” bond deal is about to be foisted upon Puerto Rico’s ratepayers and fledgling economy. It will result in a $400 million annual cash draw for at least the next 20 years. Think about wasting money on overpriced oil, political appointees and useless consultants over the last twenty years and then paying for […]
Puerto Rico has the opportunity to be a leader in the United States as it looks to enter the sports betting and online gaming market but needs to build upon their already strict regulatory structure that relies on suitable operators and a strong, experienced regulator that understands the existing legal market. Such were the findings […]
Puerto Rico will play host the 5th World Conference of Municipalities 2019 on May 10-12, a bi-annual forum organized by the U.S. Minority Chamber of Commerce. The three-day international conference will focus on the topic of economic, environment and urban development to be held at the Marriot Resort and Stellaris Casino in in San Juan. […]
Through executive order OE-2019-013 Puerto Rico Gov. Ricardo A. Rosselló shared with all government agencies and corporations his administration’s investment policy guidelines. The governor has charged the Fiscal Agency and Financial Advisory Authority (“AAFAF” by its initials in Spanish) with the responsibility of providing investment policy principles to each subdivisions and component of the government of […]
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