Groups sue FEMA for leaving public ‘in the dark’ on María recovery efforts
agosto 1, 2018
Democracy Forward Foundation filed a lawsuit on Tuesday against the Federal Emergency Management Agency (FEMA) for failing to release records detailing information about its response to the disaster on behalf of the Center for Investigative Journalism and LatinoJustice.
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Rosselló shuffles around cabinet members, names new Treasury chief
agosto 1, 2018
Puerto Rico Gov. Ricardo Rosselló announced several changes in his cabinet, including the appointment of Raúl Maldonado as chief of staff and Ricardo Llerandi as deputy chief of staff.
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P.R. gov’t reaches preliminary restructuring support agreement with PREPA bondholders
julio 31, 2018
The Financial Oversight and Management Board for Puerto Rico, the Puerto Rico Electric Power Authority, and the Fiscal Agency and Financial Advisory Authority have reached an agreement with the Ad Hoc Group of PREPA bondholders.
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Free legal group structures way to get FEMA to reconsider denied funding applications
julio 31, 2018
The Federal Emergency Management Agency has agreed to efforts by Hurricane María Legal Aid and other legal service providers to reconsider the requests for assistance from property owners in Puerto Rico who have no formal deed or documentation to prove it.
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A.M. Best confirms ‘ongoing concerns’ over COSVI’s capital strength
julio 30, 2018
A.M. Best has kept its negative outlook about Cooperativa de Seguros de Vida de Puerto Rico’s staying power and efficiency, by upholding its Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” remain unchanged.
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EDB offers loans of up to $50K to ensure business continuity
julio 30, 2018
The Economic Development Bank for Puerto Rico announced that effective immediately, it will begin offering new loans capped at $50,000 aimed exclusively at helping small and medium businesses effectively prepare for emergencies such as hurricanes and avoid subsequent interruption in business operations.
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Los economistas de Puerto Rico recomiendan cinco medidas a nivel federal para estimular el crecimiento.
27 de julio de 2018
The Puerto Rico Economists Association urged the implementation of at least five measures at the federal level that they consider essential to successfully overcome the island’s current economic crisis and spur economic growth in the long term.
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inverSOL invierte $4M en una planta de fabricación de generadores solares portátiles en Caguas.
27 de julio de 2018
inverSOL, una nueva empresa dedicada al diseño, producción y venta de generadores solares portátiles para el mercado residencial, anunció que invertirá $4 millones en Puerto Rico para establecer una nueva planta de ensamblaje con sala de exposición y área de ventas.
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Maximo Solar invierte $1.5 millones en una planta de fabricación en Humacao.
27 de julio de 2018
Maximo Solar Industries will invest $1.5 million in equipment and infrastructure for the assembly of battery cabinets and solar panels structures at its Humacao manufacturing operation, company CEO Máximo Torres confirmed.
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FirstBank grants $782K loan to renovate Casa Wilson in Condado
27 de julio de 2018
With the goal of supporting the launching of a family business, FirstBank has granted Samuel Rodríguez a $782,793 loan for purchasing and making improvements to the new Casa Wilson, an inn located in Condado.
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The Mall of San Juan owners sue BRIO Hospitality for $2.2M
julio 26, 2018
Plaza Internacional, the owners of The Mall of San Juan, have filed a lawsuit against BRIO Hospitality P.R. Inc. — the local franchisees of the now closed BRIO Tuscan Grille — seeking to collect nearly $2.2 million, this media outlet learned.
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First BanCorp. Reports $31M in net income for 2Q18
julio 26, 2018
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $31.0 million for the second quarter of 2018, or $0.14 per diluted share, compared to $33.1 million, or $0.15 per diluted share, for the first quarter of 2018 and $28.0 million, or $0.13 per diluted share, for the second quarter of […]
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P.R. Community Foundation gives $95K to 140 college students
julio 26, 2018
The Puerto Rico Community Foundation (FCPR, for its initials in Spanish) bestowed $95,000 in recovery donations to 140 students from public and private universities, thanks to a contribution from the Hispanic Federation to establish the Hispanic Federation Puerto Rico Recovery and Hurricane Relief Fund, administered by the FCPR.
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Uber marks 2nd anniversary in P.R. with 4,000+ drivers, 175K users
julio 26, 2018
With more than 4,000 driver partners and 175,000 users, Uber is marking its second anniversary in Puerto Rico. The platform began operations on the island in July 2016, transforming the way Puerto Ricans and visitors move around.
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Gov’t unveils new website that eases doing business in P.R.
julio 25, 2018
Gov. Ricardo Rosselló and Economic Development and Commerce Secretary Manuel Laboy confirmed the launch of the Single Business Portal, a new tool that facilitates the process to carry out business in Puerto Rico.
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