Nonprofits seek to give northeast P.R. residents business development opportunities
February 26, 2019
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. […]
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Evertec reports $20.2M in net income for 4Q18, $86.3M for full year
February 21, 2019
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 […]
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$14M Flamboyán Arts Fund opens public grants cycle for ’19
February 21, 2019
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. […]
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Medtronic, Ricky Martin Foundation join to promote education about human trafficking
February 18, 2019
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 […]
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Espacios Abiertos questions work of gov’t contractor CGI Technologies
February 15, 2019
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; […]
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25% of all households in Culebra, Old San Juan are rented through Airbnb
February 14, 2019
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 […]
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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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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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$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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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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Marriott Int’l, Avendra, Walmart work with Clinton Foundation to back P.R. farmers
February 6, 2019
At a meeting of the Clinton Global Initiative Action Network on Post-Disaster Recovery held in Puerto Rico last week, the Clinton Giustra Enterprise Partnership (CGEP) announced a commitment to launch an assessment in Puerto Rico that would evaluate feasibility to increase sourcing from local farmers, connecting new customers and improving incomes for farmers in the […]
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Buena Vibra Group, Capital DBG collaborate on initiatives in P.R./DR
February 6, 2019
Creative companies Buena Vibra Group and Capital DBG announced the signing of a collaboration agreement that seeks to expand the resources and tools that each agency has for strengthen the conversation between Puerto Rico and the Dominican Republic. Both agencies, denominated as non-traditional, have an innovation focus that is based on cultural and social entrepreneurship. […]
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‘Rise of the Rest’ tour, which highlights startup success, to stop in P.R.
February 4, 2019
Washington, D.C.-based investment firm founded Revolution, founded in 2005, announced that its next five-day “Rise of the Rest” bus tour — to highlight startup success outside of Silicon Valley — will visit Puerto Rico on May 3. The visit to Puerto Rico will explore innovation and entrepreneurship with Chef José Andrés in the aftermath of […]
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