The law that Puerto Rico enacted last month to privatize the Puerto Rico Electric Power Authority has many flaws, including labor protections that are too weak, an unnecessary restructuring of the Puerto Rico Energy Commission and a lack of commitment to strong energy planning, the Institute for Energy Economics and Financial Analysis affirmed.
While Puerto Rico needs to jumpstart its job market and create new sources of employment, the Financial Oversight and Management Board for Puerto Rico’s proposal to align the island’s labor landscape with that of the U.S. mainland “misses critical points of the [island’s] very particular economy.”
As a precautionary measure due to the shortage of foods and supplies thanks in large part to Hurricane María on the island, large chain supermarkets, Econo and Selectos have opted to be better prepared for the upcoming hurricane, set to affect Puerto Rico as soon as this Monday.
America Cruise Ferries, the company that connects Puerto Rico and the Dominican Republic by sea, has signed a letter of intent with the Puerto Rico Ports Authority to invest some $15 million to redevelop Piers 15 and 16 at the San Juan port.
Veteran traveler and investor Keith St. Clair formally announced his plans for the first phase of what will become the Puerto Rico Film District that is set to be completed as early as December 2019 behind the Puerto Rico Convention Center.
The Ángel Ramos Foundation will award $300,000 in grants, split equally among six Puerto Rico nonprofits that went above and beyond their duties to help communities after Hurricanes Irma and María.
The 7th annual “Caguas Compite” business incubation program concluded with a graduation rate of 85 percent, one the highest percentiles since the initiative began in 2012, town officials confirmed.
The Arecibo Credit Union has invested some $1.5 million in a new technology platform that will add new services, improve customer experience, streamline banking transactions and provide new protections to customer data to make it safer, company President William Méndez-Pagán said. The migration of operations to the new platform will be completed by July 3, […]
An Earned Income Tax Credit, an issue that is taking center stage as part of the discussion of the Puerto Rico tax reform, “does justice to workers” and is “good public policy,” Cecille Blondet, director of nonprofit Espacios Abiertos, said. Upon unveiling a study it recently commissioned from Economist María E. Enchautegui, Espacios Abiertos believes […]
As tourism continues to recover in Puerto Rico after two devastating hurricanes, the U.S. Environmental Protection Agency plans to award up $316,000 to the Puerto Rico Environmental Quality Board to help protect beachgoers, contingent upon the number of eligible recipients that apply for grant funds nationwide and the availability of funding. “Enjoying the beach is […]
Hurricane María severely affected the Puerto Rico real estate market, where home prices dropped to an eight-year low, a scenario that is drawing a growing interest from stateside buyers looking for property bargains, according to a study. Point2 Homes, a real estate website for U.S. mainland residents and Canadians looking to buy property on the […]
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The Federal Communications Commission’s Wireline Competition Bureau has extended the deadline for filing comments and reply comments in response to the “Uniendo a Puerto Rico Fund” and the “Connect USVI Fund” until July 26, and Aug. 8, respectively. The original deadlines to file comments were July 5 and July 18, respectively. The FCC is seeking […]