Rosselló expected to sign P.R. energy public policy act into law
March 27, 2019
Puerto Rico Gov. Ricardo Rosselló is expected to to sign a bill to radically transform the island’s economy with renewable energy as the central pillar. Senate Bill 1121, known as the Puerto Rico Energy Public Policy Act, will set the island on a path to 100 percent renewable energy by 2050, lawmakers said. The bill makes […]
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Delta to boost available seats between Atlanta-San Juan, anticipating heavy holiday travel
March 27, 2019
Delta Air Lines is preparing to accommodate increased holiday demand by adding larger aircrafts to serve the Atlanta-San Juan route, the carrier announced. The route will operate one of its four daily flights with an Airbus A330-300 aircraft. “From Thanksgiving through the winter season, visitors flock to Puerto Rico to experience its vibrant culture, biodiversity, […]
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HP bets on innovation, security mechanisms to ward off cyber attacks
March 27, 2019
As part of “HP Experience Day” held in San Juan Tuesday, the technology company introduced its most recent security, computer, and printing innovations featuring solutions focused on keeping cyber attacks at a minimum. As reported, a cyber attack is registered every 39 seconds and the damage resulting from cyber crimes will cost $6 billion worldwide […]
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P.R. scores 61 in ‘Economic Freedom Index,’ reflecting somewhat limited growth
March 26, 2019
Puerto Rico’s economic freedom is somewhat limited, scoring 61 out of 100 points in the Economic Freedom Index (EFI) Report for 2018, unveiled by the Center for Economic Renewal, Growth and Excellence. As a result, its potential for economic growth is being affected by a challenging business climate, high taxes and recurring fiscal deficits. Such […]
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COR3 to take over review, reimbursement of FEMA recovery funds
March 26, 2019
The Central Office of Recovery, Reconstruction and Resiliency (known as COR3) will take over in April the responsibility to review and reimbursement approval of federal recovery funds from the Federal Emergency Management Agency, government officials announced. This agreement comes after “extensive effort on the part of Puerto Rico to work with FEMA and establish robust […]
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Facebook, parallel18 looking for Caribbean startups ‘driving meaningful social impact’
March 26, 2019
Facebook and accelerator parallel18, an initiative of the Puerto Rico Science, Technology, and Research Trust, are partnering to launch “Startup Hub Caribbean,” a program that will support 10 technology startups that have outsized social impact potential and are focused on improving the lives of communities across the Caribbean. Startups selected for the program will receive […]
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Toyota, Navy join to offer operational excellence methodologies workshop
March 25, 2019
Puerto Rico is once again playing host to the third annual Yees Lean, Leadership & Innovation Event, April 8-11 at the Vivo Beach Club in Isla Verde. Young Entrepreneurship Education System, or Yees, is a company dedicated to high impact business education, which together with Toyota Connected and the Navy, will hold workshops for a […]
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Casino Metro unveils $2M expansion, adds 41 new slots and 8 gaming tables
March 22, 2019
The Casino Metro at the Sheraton Hotel at the Convention Center District in Miramar, inaugurated a $2 million expansion that adds 41 new slot machines and eight gaming tables. As this media outlet reported, the expansion — the first since the casino opened in 2009 — will represent new full-time jobs, 45 in total, of […]
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CNE’s Black Start Summit gathers leaders to rethink island’s outdated energy model
March 22, 2019
The Center for a New Economy, which has analyzed Puerto Rico’s energy sector for 15 years, convened local and international leaders to rethink the island’s outdated energy model and define a new vision for a sustainable energy future during its “Black Start: The Future of Energy Summit” at the Puerto Rico Convention Center in San […]
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P.R. gov’t officials evaluate U.S. Treasury proposals to transform property tax system
March 22, 2019
The U.S. Treasury has submitted a report with recommendations to transform Puerto Rico’s property tax system, including the potential elimination of the controversial inventory tax, Raúl Maldonado, the local administration’s CFO said. Maldonado, who is also Puerto Rico Treasury Secretary, shared the content of the report with members of the United Retailers Association, the School […]
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Scotiabank sues Metropolitan Bus Authority for $32M loan default; seeks embargo of buses
March 21, 2019
The Bank of Nova Scotia, parent company of Scotiabank de Puerto Rico, has sued the government’s Metropolitan Bus Authority for defaulting on some $32 million in a revolving credit and term loan agreement. Furthermore, the bank has asked the San Juan Superior Court to issue an order for a “provisional embargo and prohibition of alienation […]
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P.R. population not displaced by hurricanes for now — It’s the economy, study says
March 21, 2019
People invested in Puerto Rico’s long-term disaster recovery efforts face many obstacles, including — but not limited to — debt, recession, stronger hurricanes, utilities, and sovereignty. All these challenges require robust, independent, and trustworthy socio-economic data to lay the foundation for successful private investment and public policy, according to a paper written by a team […]
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Discover P.R. outlines 1st year efforts to reposition the island’s brand
March 21, 2019
Destination Marketing Organization Discover Puerto Rico presented the first industry report of the year, highlighting efforts and successes accomplished to reposition the island’s brand, and establishing priorities in which they will focus to continue strengthening the market abroad in 2019. In front of an audience of nearly 400 professionals from the tourism, travel and convention […]
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PRiMEX launches program to support food businesses create safety plans
March 21, 2019
Looking to support companies in the food sector to comply with the Food Safety Modernization Act, the Puerto Rico Manufacturing Extension (PRiMEx) has launched a program to create food safety plans. The initiative will benefit up to 100 companies engaged in food preparation on a commercial scale, as well as the manufacture, processing, packaging, transport […]
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FEMA allocates $1.4M to town of Guaynabo through Public Assistance Program
March 20, 2019
The Federal Agency for Emergency Management approved the allocation of $1.4 million in funds under Category B of the Public Assistance Program for the Municipality of Guaynabo, the Central Office of Recovery, Reconstruction and Resiliency, known as COR3, announced. COR3 Executive Director Omar J. Marrero said, “under category B, funds approved by FEMA correspond to […]
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