Study: 90% of P.R. residents use tech to interact with restaurants
February 14, 2019
A recent study commissioned by the Puerto Rico Restaurants Association revealed that more than 90 percent of Puerto Rico residents have access to smart and connected devices either to make their reservation, order or pick-up food, or to pay. Consequently, the industry “must invest in more technological resources to strengthen its quality of service, beyond […]
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Customs seizes $4.4M in counterfeit products in P.R./USVI
February 13, 2019
U.S. Customs and Border Protection San Juan Field Operations announced the seizure of counterfeit products imported into Puerto Rico via international mail or courier before and after the holidays. The estimated manufacturer suggested retail price of all the counterfeit products seized to date is an estimated $15 million. The actual price of the purchased merchandise is […]
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Grupo Guayacán seeks applications for 11th edition of Venture Accelerator
February 13, 2019
Grupo Guayacán Inc. announced the start of its annual call for applications for the Guayacán Venture Accelerator, an entrepreneurial education and development program for companies established in Puerto Rico seeking new growth opportunities. Companies, which are selected through a competitive process, must be in operations for at least three years and demonstrate organizational capacity and […]
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3M+ people toured McDonald’s kitchens in LatAm, Caribbean during ’18
February 13, 2019
Committed to transparency in its production processes and food care, McDonald’s restaurants in Latin America and the Caribbean received more than 3 million people in their kitchens in 2018, the franchise announced. The number of visits includes 115,000 in the participating restaurants in Puerto Rico. Cients experienced learning about the standards of food safety, quality […]
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New $2.1M Fifty-Eight nightclub opens at La Concha resort in Condado
February 12, 2019
Following an investment of $2.1 million, entrepreneurs Matt Moncada and Paco López officially announced the opening of Fifty-Eight, a new nightclub at La Concha Renaissance Resort in the Condado sector of San Juan. The new venue also represents a partnership with the hotel’s owner, Paulson & Co., which may open the doors for more locations […]
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Ponce Health Sciences University to build new $80M campus
February 12, 2019
Ponce Health Sciences University has broken ground on the construction of an $80 million campus and medical research facility, which will be the largest of its kind in Puerto Rico, school officials said. The expansion comes in the wake of the conditional authorization it has received from the Liaison Committee on Medical Education – which […]
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1st Taco Bell Cantina restaurant opens in Toa Baja
February 12, 2019
Taco Bell Cantina, the chain’s new flagship restaurant, recently opened in Toa Baja, bringing to the island a new urban and modern concept with unique offers in its category, restaurant owners said. “With a local investment of $1 million, Taco Bell Cantina will create 23 direct and indirect jobs, and it is expected to stimulate […]
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U.S. Dept. of Labor recovers $5.6M in back wages for hurricane recovery workers
February 12, 2019
Investigations by the U.S. Department of Labor’s Wage and Hour Division have resulted in the recovery of nearly $5.6 million in back wages and benefits owed to 993 employees of nine subcontractors that provided power generator operation support for hurricane recovery efforts in Puerto Rico, the agency announced. WHD investigators found that the subcontractors violated […]
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P.R.’s changing economic landscape has forced banks to retrench
February 11, 2019
Puerto Rico’s changing economic landscape will prompt banks to keep a tight grip on their activites until risks recede, an analysis by H. Calero Consulting firm concluded. The “retrenching,” as the firm called it, will likely lead banks to remain a “passive sector, one that, in the future, stands to react rather than lead the […]
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Estudios Técnicos: Reconstruction funds to drive 4.2% economic growth in ’20
February 11, 2019
The release of $1.5 billion in post-Hurricane María CDBG-DR reconstruction funds will spur a positive momentum in Puerto Rico’s economy, which should grow by 4.2 percent in fiscal year 2020, and will remain positive until 2022, according to new estimates by Estudios Técnicos Inc. “This week the [U.S.] Department of Housing announced the release of […]
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Resident Commissioner presents ‘Offshore Wind for Territories Act’
February 11, 2019
Resident Commissioner Jenniffer González-Colón introduced H.R. 1014, known as the “Offshore Wind for Territories Act,” a bipartisan legislation that would amend federal law to study the potential for offshore wind energy development in the U.S. exclusive economic zone adjacent to Puerto Rico and the rest of the U.S. territories. Over the past few years, […]
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$35.5M mixed-income housing complex, Renaissance Square, opens in San Juan
February 8, 2019
National affordable housing developer, McCormack Baron Salazar, Inc., and the Puerto Rico Department of Housing, have officially opened Renaissance Square, a new mixed-income apartment community located in Hato Rey. A public/private partnership between the Department of Housing, McCormack Baron Salazar, Citi Community Development, and Hunt Capital Partners, the project used public dollars to leverage private […]
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Gov’t sends out another $39.4M to employers that retained workers post-hurricanes
February 8, 2019
The government sent out another $39.4 million to 1,294 employers who requested Employee Retention Tax Credit program after the impact of Hurricanes Irma and María last year. Gov. Ricardo Rosselló said the new allocation pushes the total amount paid out to $414.4 million from June 2018 to 16,676 employers who retained 415,921 employees after the […]
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Mastercard opens new offices in P.R., Jamaica; Boosting operations in DomRep
February 8, 2019
As part of its strategic plan to evolve and develop its Caribbean structure, Mastercard announced changes that will strengthen its presence on the islands, including expanding their offices in the Dominican Republic and opening new offices in Puerto Rico and Jamaica. This growth will promote greater agility and efficiency when providing service to clients and […]
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Gov’t commissions feasibility study for commercial spaceport in Roosevelt Roads
February 7, 2019
The Puerto Rico government has signed a collaborative agreement with Florida-based RS&H Inc. to conduct a feasibility study to establish a commercial spaceport at the José Aponte de la Torre Airport, in the former Roosevelt Roads naval base in Ceiba. The study will cost $75,000 and should be ready by June 30, 2019. “We believe […]
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