GDB hosting investor day in NY next week
March 15, 2013
The Government Development Bank will be hosting a “Puerto Rico Investor Day” event in New York next week, to give backers a one-on-one opportunity to meet with senior members of the island’s fiscal team.
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Modernization of busy Guaynabo junction to start
March 15, 2013
Construction of the $19 million mega project to revamp the busy Caparra Interchange System— where roads PR-2, PR-22 and PR-20 converge in Guaynabo — will begin Monday, local and federal government officials announced Thursday.
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EVERTEC reports $341.7M in ’12 revenue, up 6% vs. ’11
March 15, 2013
EVERTEC Group, LLC reported Thursday consolidated results for the fourth quarter and year ended December 31, 2012, reporting $91 million and $341.7 million for each respective period. Both results were up 6 percent year-over-year, company executives said.
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Puerto Rico ministerial mission to Panama underway
March 15, 2013
The first commercial mission organized by the current administration is taking place this week in Panama seeking to continue strengthening trade ties and advance the participation of local companies in the thriving Central American economy.
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Ford presents new line of ‘Police Interceptor’ vehicles
March 15, 2013
Automaker Ford presented its new line of Police Interceptor vehicles created for law and order agencies during an event Thursday that included test drives and exhibits at the Puerto Rico Convention Center.
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Puerto Rico Treasury going after fraudulent taxpayers
March 14, 2013
The Puerto Rico Treasury Department is embarking on a pursuit of taxpayers who defrauded the government’s coffers either by under-reporting on their income taxes or failing to file altogether, agency Secretary Melba Acosta said Thursday.
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Caguas enterprise incubator ‘graduates’ 1st companies
March 14, 2013
The INOVA Incubation Program in Caguas recently marked its fifth anniversary with the “graduation” of the first companies born there, which so far have created 200 direct and 400 indirect jobs. The program also celebrated the national recognition given to one of its resident companies by the National Business Incubation Association, a first for Puerto Rico.
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Op-Ed: Retirement plans and their taxation under the new Internal Revenue Code
March 14, 2013
Law 1 of January 31, 2011, also known as the Internal Revenue Code for a New Puerto Rico (herein the “New Code”), replaces the Internal Revenue Code of 1994, as amended. This New Code amends and adds new provisions to the previously known Section 1165, related to Puerto Rico Pensions Plans (now Section 1081.01). This article specifically refers to Chapter 8 — Trust and Successions, Subchapter A — Employees Trusts.
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New Hyundai dealership opens in San Sebastián
March 14, 2013
Hyundai owners and would-be customers in northwestern Puerto Rico now have a $4 million dealership to visit, which was recently opened by a trio of executives — Agustín H. Font, Raúl Rivera and Víctor Caraballo — to serve the region.
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Convention Bureau launches ‘Puerto Rico Meeting University’
March 14, 2013
The Puerto Rico Convention Bureau has launched an exclusive online education program tailored to meeting planners, dubbed the “Puerto Rico Smooth Meeting University,” that includes courses on topics such as meeting hotels, the Puerto Rico Convention Center, history and culture, golf, shopping, dining and nightlife.
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S&P cuts Puerto Rico’s GO bonds ‘BBB-‘ From ‘BBB’
March 13, 2013
Citing Puerto Rico’s ongoing budget gap, New York-based Standard & Poor's Ratings Services on Wednesday lowered the government’s general obligations rating to 'BBB-' from 'BBB' — one notch above junk. The outlook is negative.
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Georgia Tech, Science Trust offer workshop to fuel research
March 13, 2013
Looking to develop an institute dedicated to promote, strengthen and encourage scientific and technological drivers to fuel local economic development, the Puerto Rico Science, Technology and Research Trust in conjunction with the Georgia Tech Technology Institute will offer a workshop on research governance and management.
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Op-Ed: The challenge of a new student in a new society and economy
March 13, 2013
The core challenge we face today as educators is this: previous generations before the 70’s have been educating generations for an unknown and changing world in which uncertainty is the order of the day in job opportunities and the economy. The relevance of much what we teach expires before you get the diploma and set out to get a job.
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‘Dondesea’ food truck rolls into Santurce
March 13, 2013
Puerto Rico’s thriving food truck scene recently welcomed its newest player, “Dondesea,” which recently rolled into a permanent spot on Ponce de León Avenue in Santurce, a few blocks away from the Ciudadela complex.
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Punta Lima wind farm sold to Sovereign Bank for $88M
March 12, 2013
Gestamp Wind Energy North America announced Monday the sale of the 23-megawatt Punta Lima wind farm outside Naguabo to Sovereign Bank, N.A., a subsidiary of Banco Santander.
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