The Federal Emergency Management Agency has agreed to efforts by Hurricane María Legal Aid and other legal service providers to reconsider the requests for assistance from property owners in Puerto Rico who have no formal deed or documentation to prove it.
A.M. Best has kept its negative outlook about Cooperativa de Seguros de Vida de Puerto Rico’s staying power and efficiency, by upholding its Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” remain unchanged.
The Economic Development Bank for Puerto Rico announced that effective immediately, it will begin offering new loans capped at $50,000 aimed exclusively at helping small and medium businesses effectively prepare for emergencies such as hurricanes and avoid subsequent interruption in business operations.
The Puerto Rico Economists Association urged the implementation of at least five measures at the federal level that they consider essential to successfully overcome the island’s current economic crisis and spur economic growth in the long term.
inverSOL, a new company dedicated to the design, production and sale of portable solar generators for the residential market, announced it will invest $4 million in Puerto Rico to establish a new assembly plant featuring a showroom and sales area.
Maximo Solar Industries will invest $1.5 million in equipment and infrastructure for the assembly of battery cabinets and solar panels structures at its Humacao manufacturing operation, company CEO Máximo Torres confirmed.
With the goal of supporting the launching of a family business, FirstBank has granted Samuel Rodríguez a $782,793 loan for purchasing and making improvements to the new Casa Wilson, an inn located in Condado.
Plaza Internacional, the owners of The Mall of San Juan, have filed a lawsuit against BRIO Hospitality P.R. Inc. — the local franchisees of the now closed BRIO Tuscan Grille — seeking to collect nearly $2.2 million, this media outlet learned.
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $31.0 million for the second quarter of 2018, or $0.14 per diluted share, compared to $33.1 million, or $0.15 per diluted share, for the first quarter of 2018 and $28.0 million, or $0.13 per diluted share, for the second quarter of […]
The Puerto Rico Community Foundation (FCPR, for its initials in Spanish) bestowed $95,000 in recovery donations to 140 students from public and private universities, thanks to a contribution from the Hispanic Federation to establish the Hispanic Federation Puerto Rico Recovery and Hurricane Relief Fund, administered by the FCPR.
With more than 4,000 driver partners and 175,000 users, Uber is marking its second anniversary in Puerto Rico. The platform began operations on the island in July 2016, transforming the way Puerto Ricans and visitors move around.
Gov. Ricardo Rosselló and Economic Development and Commerce Secretary Manuel Laboy confirmed the launch of the Single Business Portal, a new tool that facilitates the process to carry out business in Puerto Rico.
The Federal Emergency Management Agency announced it has approved nearly $210 million in Community Disaster Loans for 51 Puerto Rico municipalities.
Popular Inc. reported a net income of $280 million and an adjusted net income of $121.3 million for the second quarter ended June 30, 2018, compared to a net income of $91.3 million for the quarter ended March 31, 2018.
Gov. Andrew Cuomo headed a delegation of New York government representatives, students and other volunteers to Puerto Rico, where the ‘NY Stands with Puerto Rico Recovery and Rebuilding’ initiative has cleaned, restored, and rebuilt 90 homes across the island.
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