Casiano Communications files for Ch. 11 bankruptcy
October 6, 2014
Casiano Communications Inc., parent company of weekly English-language business publication Caribbean Business and a number of other subsidiaries, filed for Chapter 11 bankruptcy protection Monday, citing more than $8.5 million in debt.
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Treasury: Sept. sales and use tax collections up 8.5%
October 2, 2014
Last month's Sales and Use Tax revenue, which includes transactions made in August, totaled $124.2 million, the highest level for a month of September since the SUT was implemented in November 2006, the Treasury Department said Wednesday.
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Call for researchers a ‘success,’ says Science Trust
October 1, 2014
The recent call by the Puerto Rico Science, Technology and Research Trust, for local researchers to opt for grants in various areas generated “great enthusiasm” among scientists and researchers from the island, to the point that 234 letters of intent received exceeded the projected amount the entity expected to receive by 200 percent.
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Customs completes $8M reno of Border Patrol facilities
September 30, 2014
The U.S. Customs and Border Protection’s Office of Administration Facilities Management and Engineering recently announced the completion of an $8 million renovation of the Border Patrol Ramey Sector headquarters and station, located in the western town of Aguadilla.
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EVERTEC Inc. approves $75M stock repurchase program
September 25, 2014
EVERTEC Inc. announced Wednesday that it’s Board of Directors has approved a stock repurchase program that authorizes repurchases of up to $75 million of its common stock over the next 12 months.
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Puerto Rico wants to be ‘medical tourism powerhouse’
September 24, 2014
The Government of Puerto Rico took an important step Tuesday in its efforts to become a medical tourism powerhouse in the Caribbean and Latin America when the Department of Economic Development and Commerce signed an agreement with the Medical Tourism Association to have the MTA provide educational training aimed at obtaining certifications for service providers in Puerto Rico.
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HealthSouth San Juan hospital marks 15th year in P.R.
September 24, 2014
HealthSouth San Juan, the island’s first physical rehabilitation facility to establish itself in Puerto Rico, is marking 15 years of offering services to local residents as well as patients from the U.S. Virgin Islands.
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R&D investments up 3.3% in Puerto Rico, study shows
September 22, 2014
Investments made in Puerto Rico by companies performing research and development activities totaled $449.3 million in Fiscal 2013, up 3.3 percent in comparison to the total reported in 2009, the Puerto Rico Statistics Institute revealed.
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Gov. signs law to extend life of Roosy Roads Authority
September 22, 2014
Gov. Alejandro García-Padilla signed into law Senate Bill 110, which amends the “Law of the Authority for the Redevelopment of the Land and Facilities of the Roosevelt Roads Naval Station” to extend its term as a public corporation for an additional 30 years, or until the Authority complies with the agreements with the U.S. Department of the Navy.
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Ciudadela’s third phase to begin construction soon
September 19, 2014
Billionaire Nicholas Prouty's latest investment in Puerto Rico — the $108 million expansion of the Ciudadela housing and commercial complex in Santurce — will benefit from local tax incentives to achieve savings he plans to pass on to future buyers.
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Puerto Rico partners with Medical Tourism Association
September 18, 2014
A collaboration between Puerto Rico and the U.S.-based Medical Tourism Association is the opening salvo in the island's newly announced strategy to develop medical tourism as a vital economic sector.
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OPEN Puerto Rico looks to raise $14K via AntRocket
September 17, 2014
OPEN Puerto Rico, a platform that strives to find and publish governmental data and public documents, is looking to raise $14,000 through crowdfunding platform AntRocket, to be able to further its pursuit of pushing for public sector transparency.
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Congress could nix Export-Import Bank by month’s end
September 15, 2014
WASHINGTON — What do the World War II-era Burma Road, the 30,000-mile-long Pan-American Highway linking Alaska to Argentina, a $120 million aluminum smelter in Ghana, and a $3 billion liquefied natural gas project in Papua New Guinea have in common?
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Plaza Las Américas, MasterCard launch biz competition
September 12, 2014
Looking to give the island’s economic activity a much-needed push through entrepreneurship, Plaza Las Américas is joining forces with MasterCard, the Puerto Rico Economic Development Bank, and the Puerto Rico Trade and Export Company to launch the "Journey to Business Success" competition for business development.
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Migration aggravating island’s battered housing market
September 11, 2014
The accelerated rate at which Puerto Rico is losing population — particularly the younger, productive segment — is placing significant pressure on the island’s housing market, which continues to experience ongoing decreases in sales and rental activity.
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