SBA District Director Sifontes dead
January 9, 2012
José Sifontes, who held the post of U.S. Small Business Administration District Director for Puerto Rico and the U.S. Virgin Islands, José Sifontes, passed away Dec. 28, the agency announced Monday.
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EDB bets on self-employment in ’12
December 27, 2011
The Economic Development Bank will be setting its sights on promoting self-employment initiatives in 2012, targeting specific sectors with orientation sessions and, perhaps most importantly, funding, agency President Ivonne Otero said.
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Less than 15% of IVU Loto winners have claimed their prizes
December 22, 2011
A year after the IVU Loto twice-weekly sweepstakes launched, less than 15 percent of winners have claimed their prizes. Treasury Department data shows that so far, only 87 out of 580 winners have taken home their pay. Combined, winners have claimed $146,500, or a fraction of the $761,000 the agency has offered in cash prizes, News is my Business confirmed Wednesday.
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Economic Activity Index up slightly in October, driven by cement sales
December 6, 2011
Puerto Rico’s Economic Activity Index (GDB-EAI) reached 127.7 in October 2011 compared to 126.7 registered during September 2011, reaching the highest level since November 2010, the Government Development Bank for Puerto Rico said Monday.
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Treasury collections up 9.3% in October, Law 154 shores up $172M
December 6, 2011
General Fund gross revenue collections increased 9.3 percent to $638 million in October, or $54 million more in comparison to the total for the same month in 2010, Treasury Secretary Jesús F. Méndez said Monday.
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Treasury mails 5K taxpayer debt notices
December 2, 2011
In accordance with the recently approved Law to Strengthen Safety and Public Health, the Treasury Department mailed Thursday 5,000 debt notices and will continue the practice through the rest of the month, agency chief Jesús Méndez said.
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Farmers ring up $1.2 million in sales during EDB-sponsored markets
November 23, 2011
Economic Development Bank President Ivonne Otero said Tuesday that local farmers participating in the agency’s urban market events over the past 24 months have generated some $1.2 million in direct sales, plus another similar amount in deals to export their goods, as well as sell them at retail establishments on the island.
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Treasury increases IVU Loto grand prize to $25K
November 22, 2011
Weekly IVU Loto drawings will offer higher prizes starting Nov. 29, in an effort by the Treasury Department to increase retailer participation rates from the current 33,250, agency chief Jesús Méndez said Monday.
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GDB issues $450M in COFINA-backed debt
November 18, 2011
The Government Development Bank turned to the bond market last week, issuing $450 million in debt in less than a day, and will repeat the action again in two weeks, when it will seek to raise another $1.1 billion, agency President Juan Carlos Batlle said Thursday.
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EDB, UPR join to light entrepreneurial spark in students
November 9, 2011
Economic Development Bank President Ivonne Otero and University of Puerto Rico President Miguel Muñoz unveiled Tuesday the "University Business Movement" program, a new initiative that seeks to promote an entrepreneurial spirit among college students.
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SBA extends deadline to apply for Hurricane Irene damage to Nov. 25
October 31, 2011
The U.S. Small Business Administration said Monday it has extended the deadline for homeowners, renters, businesses and nonprofit organizations in Puerto Rico to return applications for physical damage caused by Hurricane Irene. Since launching the assistance program in August, the agency has approved more than $3 million in loans.
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SBA approves more than $2M in Hurricane Irene-related disaster loans
October 19, 2011
With just a week to go before the Oct. 26 deadline to submit disaster loan applications, the U.S. Small Business Administration announced Wednesday that so far it has approved $2 million in assistance for damages sustained by local businesses and residents in the wake of Hurricane Irene earlier this year.
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Metropistas: Highway PPP ‘model to follow’
October 11, 2011
Metropistas, the consortium of companies that is now running PR-22 and PR-5, will use the public-private partnership agreement established with the government as the model to possibly secure similar deals in the U.S. mainland, company officials said Monday.
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U.S. Dept. of Commerce looks to include P.R. stats in national GDP numbers
October 10, 2011
Representatives from the U.S. Department of Commerce’s Bureau of Economic Analysis will visit Puerto Rico later this month as part of ongoing efforts to steer the island toward improving methods of collecting and producing high-quality statistics about local economic activity.
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Fortuño announces 3rd round of homeowner’s assistance program
October 4, 2011
A week after accepting applications from 1,650 homeowners looking to save their dwellings from foreclosure, Gov. Luis Fortuño announced Tuesday there will be a third round of government assistance to benefit another 1,500 families.
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