The Puerto Rico Treasury Department has begun to implement the reduction of the Sales and Use Tax (IVU, for its initials in Spanish) on prepared foods from 11.5% to 7%, which will take effect in October. “We have already started conversations with the Puerto Rico Restaurants Association to delineate the parameters of the implementation and […]
The Association of General Contractors, Puerto Rico Chapter proposed a number of strategies to eliminate corruption in public procurement processes, including promoting legislation to ban the government from hiring newly created legal entities, without financial experience, or a history of expertise. In a statement, Alejandro J. Abrams, president of the trade group known as AGCPR, […]
The Puerto Rico Economists Association has joined the chorus of private-sector voices asking Gov. Ricardo Rosselló to step down from his post and make way for “an orderly transition.” Meanwhile, the Puerto Rico Manufacturers Association separately asked the various government branches to do their part and act swiftly to resolve the turmoil currently engulfing the […]
Nonprofit Organization Open Space warned that messages in the chat in which Gov. Ricardo Rosselló and others participated in could constitute serious ethical and legal violations through a conspiracy to limit citizen rights to demand transparency and accountability the government. During a sit-down with the media, Open Spaces Executive Director Cecille Blondet said the chat […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2019/07/NIMB-Podcast-GOVERNMENT-CRISIS_mixdown-S1E13.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSBusiness leaders from the Puerto Rico Private Sector Coalition condemned the arrests of former government officials and collaborators and requested an immediate corrective plan action. For Coalition members, the fact that it is not the first time that a government in power is the subject […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2019/07/NIMB-Podcast-GOVERNMENT-CRISIS_mixdown-S1E13.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSThe Puerto Rico Builders Association and the Puerto Rico Farm Bureau, two professional organizations representing thousands of local members, voiced their rejection of recently uncovered acts of government corruption, which has “tainted the island’s reputation. In a statement the Builders Association, through its President Emilio […]
Millennials in Puerto Rico carried the least amount of credit card debt of any state, with an average balance of $2,906 per person, in the first quarter of 2019, according to a study conducted by credit reporting agency Experian. Mississippi millennials had the second-lowest debt, with an average credit card balance of $3,887. These balances […]
Puerto Rico Convention Center District Authority Executive Director Omar Marrero offered an update on eight projects underway in the busy zone that represent a combined $112 million in private investments. Among the most important projects is the EcoExploratorio, which will be a center for informal education in science, technology, engineering and mathematics (STEM), sustainability and […]
A recent study on catastrophes published by Aon revealed that 2017 was the second costliest year on record for insured and uninsured losses, and will most likely become the record year for insured losses with further loss development from Hurricanes Harvey, Irma and María. In terms of economic losses due to weather-related disasters alone, 2017 […]
Some 14,800 Puerto Rico Electric Power Authority customers are benefiting from Net Metering Billing, representing about 70 million-kilowatt hour of energy consumption through renewable energy sources including solar, wind and geothermal. Under net metering, renewable energy system supplies all or part of the client’s electricity consumption; excess energy, if any, is exported to PREPA’s electrical […]
Seven nonprofit organizations in Vieques and Culebra received $95,000 in donations from the Hispanic Federation of Puerto Rico Recovery and Relief Fund, established by the Hispanic Federation in the Puerto Rico Community Foundation, to promote economic development and the conservation of the environment in both island municipalities. The organizations benefited in Vieques are: Vieques en […]
Broadcaster WORA-TV in Mayagüez, owned by Telecinco Inc., announced the start of a restructuring process in response to the decision by Telemundo Puerto Rico not to renew its contract agreement. As this media outlet reported this week, Telemundo notified WORA of its decision to rescind its contract which according to documents obtained from the Federal […]
Puerto Rico Community Foundation is getting a $4.1 million grant from the U.S. Department of Commerce to install a 100% renewable energy system to support businesses in the municipality of Culebra. The project, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone, will be matched with $1 million in local funds, U.S. Secretary of […]
Caguas Ambulatory Surgical Center, a multiple-specialty ambulatory surgical center in Caguas, will begin operating next month after a $16 million investment, company executives said. Caguas Ambulatory will offer ambulatory surgical procedures in the specialties of Orthopedics, Urology, Ophthalmology, Otorhinolaryngology, and Hand Surgery, among others. This type of facility offers more cost-efficient services and facilitates access […]
CAMBIO, a local nonprofit, and the Institute for Energy Economics and Financial Analysis (IEEFA) expressed their dissatisfaction at the San Juan Superior Court about the limited amount of public information they have received from the Puerto Rico Electric Power Authority. In response, Judge Anthony Cuevas-Ramos, who is presiding over the case has summoned the parties […]
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