Autopistas Metropolitanas de Puerto Rico (metropistas) announced the closing of a $181 million bond issuance to partially refinance a portion of its short-term debt, in what constitutes one of the first bond issuances in the Puerto Rican infrastructure industry since the beginning of the economic recession and the devastation that left hurricane María. The bond […]
Foundation for Puerto Rico has begun heading the meetings of focus sectors with members of the Whole Community Resilience Program, to define the databases and indicators needed to assess vulnerability in the communities, the nonprofit announced. These collaborative sessions will help examine the needs of all communities in Puerto Rico, with a comprehensive perspective of […]
The iconic 22-story World Plaza building in Hato Rey is up for sale, with an initial asking price of $28 million, this media outlet confirmed. The property belongs to the Infrastructure Financing Authority, a government entity that picked up the asset from the Federal Deposit Insurance Co. in 2014, four years after former owner Westernbank […]
By Michelle Kantrow-Vázquez Xavira Neggers-Crescioni, who had nearly three decades of experience as a business reporter in Puerto Rico,passed away over the weekend. She was 51. Her unexpected death has left her friends and colleagues with heavy hearts. On a personal level, aside from being one of the most incisive reporters I’ve known, Xavira was […]
Federal Medicaid funding has a critical role in providing affordable health care to the people of Puerto Rico, especially as the island works towards a sustainable recovery. But the vast difference in how Medicaid funding is calculated for Puerto Rico versus the 50 states is unfair, hurts more than a million American citizens, and prevents […]
Citizens residing in the northeast area of Puerto Rico who wish to develop a business idea will have the opportunity to participate in a business incubation program free of charge, as part of an initiative driven by several local nonprofits. The program consists of three cycles — pre-incubation, incubation and certification — begins on Mar. […]
Evertec Inc. announced results for the fourth quarter and full year ended Dec. 31, 2018, reporting net income of $20.2 million and $86.3 million, for the respective periods. During the last quarter of 2018, GAAP Net Income attributable to common shareholders represented or $0.27 per diluted share, compared with $5.8 million or $0.08 per diluted share […]
The Flamboyán Foundation announced that it has opened the Flamboyán Arts Fund public grant application after the run of Hamilton in Puerto Rico, which raised more than $14 million for the fund. The grant application will close March 31st and awards will be announced in the spring. Details are available on the Flamboyán Foundation website. […]
As part of the of human trafficking awareness month, Medtronic Puerto Rico and the Ricky Martin Foundation have joined forces to promote the education about human trafficking on the island. Human trafficking is the second most lucrative crime in the world. About 45.8 million people are victims of human trafficking. This crime generates more than […]
Nonprofit organization Espacios Abiertos recently evaluated the government’s transparency portal prepared by contractor CGI Technologies, and concluded it falls short of complying with more than half of criteria set forth by Transparency International to avoid corruption in post-disaster recovery processes. Specifically, Espacios Abiertos draws attention to: the need to provide details for subdivisions within municipalities; […]
The impact of Airbnb in Puerto Rico is such that it already exceeds 10,000 properties on the Island, according to an analytical report by Estudios Técnicos Inc. In tourist zones like Culebra and Old San Juan, a quarter of all homes are listed through the digital renting platform, which demonstrates its very high penetration in […]
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 […]
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 […]
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 […]
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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