Foundation for Puerto Rico and P.E.C.E.S., as well as local small business owners, provided an update of its Bottom Up Destination Recovery Initiative to President Bill Clinton, Secretary Hillary Clinton, and members of the Clinton Foundation during their visit to Puerto Rico. Led by the Foundation, the Bottom Up Destination Recovery Initiative aims to support […]
Forteza Caribbean Chocolate announced the implementation of a plan to produce and distribute among local farmers some 12,000 high-performance cocoa trees through 2020, with the support of the Puerto Rico Agriculture Department and the U.S. Department of Agriculture. The company said the addition of the new trees should lead to the creation of 100 to […]
American Airlines Cargo said 2018 was “an exceptional year” for the company, with the division exceeding multiple all-time records in performance, volume and revenue, finishing the year with more than $1 billion in revenue. “The airline moved record volumes of freight and mail across its system in 2018, with volume for the year ending at […]
The Puerto Rico Department of Housing and affordable housing developer, McCormack Baron Salazar, Inc., announced the closing on the financing and start of construction of a $130 million mixed-income housing in Caguas. Located on vacant land that was previously a public housing site, the new community includes housing options that are affordable to families and […]
Spanish airline Iberia will resume its direct route between San Juan and Madrid on Mar. 31 with three weekly flights between Luis Muñoz Marín International Airport on Wednesdays, Fridays and Sundays during the months of April, May, September and October. Those flights are in addition to the daily flights to be offered — except Monday […]
Editor’s Note: The following is an analysis by Tom Sanzillo ([email protected]), IEEFA’s director of finance and Cathy Kunkel ([email protected]), an IEEFA energy analyst. It is being reprinted as it originally appeared in IEEFA’s website. The government of Puerto Rico is moving forward with plans to convert two units at the San Juan power plant from […]
Popular Inc. closed 2018 with significant year-over-year increases in its net and adjusted income, according to its quarterly earnings report. For the 12-month period ended Dec. 31, 2018, adjusted net income was $487 million, up 76 percent from the prior year’s adjusted net income of $276 million. Net income for 2018 totaled $618.2 million, a […]
Liberty Puerto Rico will increase rates on current television and internet packages effective Feb. 1, the company announced in a notice sent to customers. However, clients choosing to switch to new plans that Liberty began offering late last year will not experience rate changes for the rest of 2019. “As part of our commitment to […]
By Eliván Martínez Mercado | Center for Investigative Journalism From the inside of a cargo container like the ones used to transport food overseas, the town of Sterling, Massachusetts implements the energy system of the future. The general manager of this power services company, Sean Hamilton, walks with his head protected by a white constructor’s […]
Puerto Rico’s Economic Activity Index showed a 21.5 percent year-over-year growth in November 2018, the government announced. The EAI-PR released by the Puerto Rico Economic Development Bank reached a level of 120.3 in November 2018, showing a decrease of 0.1 percent compared to October 2018. The most recent results mark the third consecutive increase after […]
OFG Bancorp reported net income of $23.1 million, or $0.45 per fully diluted share, compared to $19.6 million during the third quarter of 2018, or $0.42 per share and the same year-ago quarter, when it made $13.6 million or $0.30 per share. For the year ended Dec. 31, 2018, the financial institution reported net income […]
The Puerto Rico Institute of Statistics is seeking an injunction and declaratory judgment from the San Juan Superior Court challenging the validity of a number of board appointments Gov. Ricardo Rosselló made in late November 2018. The appointments casts doubt on the Institute’s independent criteria and the knowledge and expertise required for Board members to […]
The Puerto Rico Nonprofit Capacity Building Network is coming together to provide training, networking opportunities and funding for grassroots organizations across Puerto Rico. The goal is to increase their capacity to meet crucial community needs in areas such as housing, climate resilience, education and health, especially as the island recovers from Hurricanes Irma and María. […]
Admitting that transformations are “seldom smooth and many times messy,” Puerto Rico Gov. Ricardo Rosselló confirmed that his administration is working on ironing out the kinks that have come up with the shift into the “short route” connecting Puerto Rico with Vieques and Culebra. In an exclusive interview with this media outlet, Rosselló said moving […]
Caribbean Strong, under the slogan of “Building Resilience with Equity,” is the first post-Hurricane María resilience summit to be held this year, at the Sheraton of the Convention Center Hotel from Feb. 27 to Mar. 1, organizers confirmed. The summit will focus on the lessons learned after the two devastating hurricanes that hit Puerto Rico […]
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