Sales & Marketing Execs to hold 11th annual convention
April 2, 2013
The Puerto Rico Sales and Marketing Executives Association will host its 11th annual convention April 3-5, with a full agenda of panel discussions at the Convention Center.
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American Eagle ends Puerto Rico service after 27 years
April 1, 2013
Regional air carrier American Eagle ended its 27-year run out of the Luis Muñoz Marín International Airport in San Juan over the weekend, flying away from the Caribbean and Puerto Rico for the last time.
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FirstBank to sell $532M in non-performing loans
April 1, 2013
FirstBank Puerto Rico has entered into three separate agreements to sell a total of $532 million bad commercial loans with a book value of $315 million, for $201 million, or 38 percent of the unpaid principal balance.
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CTO projects 4-5% growth in ’13 tourism to Caribbean
April 1, 2013
Visitor traffic to the Caribbean region should increase by 4 percent to 5 percent this year, reports the Barbados-based Caribbean Tourism Organization. That follows strong growth in 2012 that saw the islands of the Caribbean welcome 25 million visitors — 5.4 percent more than in 2011 and the largest number of stay-over visitors in five years.
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Labor: Puerto Rico loses 11K jobs YOY in Feb.
April 1, 2013
Puerto Rico’s unemployment rate showed a slight drop in February, settling at 14.5 percent, or 0.1 percentage points below the 14.6 percent the Labor Department reported for January.
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USDA opens call for ‘green’ energy projects funding
April 1, 2013
Puerto Rico farmers and rural small businesses for energy efficiency and renewable energy projects looking to develop energy efficiency and renewable energy projects have the chance to obtain funding through the U.S. Department of Agriculture’s Rural Energy for America Program, agency Secretary Tom Vilsack recently announced.
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Toyota RAV4 ’13: Feels like SUV, but drives like a sedan
April 1, 2013
The 2013 Toyota RAV4 is definitely one of those crossover vehicles that feel like an SUV, but drive like a sedan. This year’s redesigned edition offers spacious interiors, sleek exteriors and a powerful, fuel-efficient engine that makes the behind-the-wheel experience as comfortable as it is practical.
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Suiza Dairy wraps up ‘Nutrition Month’ campaign
April 1, 2013
Dairy and fruit juice drinks manufacturer Suiza Dairy marked Nutrition Month in March by launching a new variety of products, including a 100 percent lactose-free milk, and teaming up with a Puerto Rican dietitian and chef to create awareness of the importance of taking care of one’s body through healthy eating.
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Inter American Univ., Popular host entrepreneurship seminar
April 1, 2013
The Arecibo campus of the Inter American University and Banco Popular are joining forces to host a seminar this week, “Junte para Echar Pa’lante,” aimed at young entrepreneurs looking for ways to get ahead. The event will take place April 4, from 8 a.m. to 1 p.m. at the college’s theater.
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The Mall of San Juan opening in March ’15
March 27, 2013
Taubman Centers and New Century Development Corp. announced Tuesday that $400 million The Mall of San Juan upscale retail project will have its grand opening in two years, on March 26, 2015.
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T-Mobile adding iPhone 5 to lineup April 12
March 27, 2013
Wireless carrier T-Mobile announced Tuesday its plans to introduce “radically simple” unlimited plans, eliminate contracts, and add new devices to its portfolio, including the highly-anticipated iPhone 5, which will be available starting April 12.
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FAA certifies Seaborne’s Saab340B, carrier to add flights
March 27, 2013
Seaborne Airlines has cleared a new milestone with the recent certification by the Federal Aviation Administration of the Saab 340B aircraft. As a result, starting April 1, the regional carrier will begin offering nonstop flights between the St. Croix Henry E. Rohlson, St. Thomas Cyril E. King, and Tortola Terrence B. Lettsome airports and the Luis Muñoz Marín International Airport.
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Microsoft partners clean up Cerro Gordo beach
March 27, 2013
A group of 50 volunteers organized by the Puerto Rico Chapter of the International Association of Microsoft Channel Partners recently got together to clean up the Cerro Gordo beach and park in Vega Alta, which boasts one of the island’s most popular beaches.
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Suzuki del Caribe to discontinue car sales after ’14
March 26, 2013
Less than four months after Suzuki Motor Company of Japan announced it would discontinue the sale of new cars in the continental United States, Suzuki del Caribe announced Tuesday it will do the same in the Puerto Rico market after 2014.
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Banco Popular closes sale of $540M in NPLs, other real estate
March 26, 2013
Banco Popular de Puerto Rico announced Monday it completed the previously announced sale of a portfolio of non-performing commercial and construction loans, and commercial and single-family real estate owned, with a combined unpaid principal balance on loans and appraised value of other real estate owned of approximately $995 million and book value of approximately $540 million to an entity majority owned by a joint venture between Caribbean Property Group LLC and certain affiliates of Perella Weinberg Partners’ Asset Based Value Strategy.
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