‘Golden Mile’ showing luster for 1st time since ’07
August 27, 2011
Puerto Rico’s financial sector, one of the island’s key economic components, seems to be rebounding for the first time in four years, reporting $171 billion in combined assets during the second quarter of 2011.
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A.M. Best downgrades National Insurance’s ratings, again
August 27, 2011
For the second time this year, A.M. Best Co. has downgraded National Life Insurance Company’s ratings, this time to C++ (Marginal) from B- (Fair) and issuer credit rating to “b” from “bb-.” The agency left the door open to further downgrades Friday.
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Irene triggers $500M to $1.1B in insured losses in Caribbean, analyst says
August 27, 2011
Boston-based AIR Worldwide estimated Friday that insured losses in the Caribbean from Hurricane Irene will reach between $500 million and $1.1 billion, with the Bahamas accounting for more than 60 percent of the insured loss.
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20K OneLink customers still in the dark
August 26, 2011
As of Friday morning, some 20,000 OneLink Communications customers still had no service in the wake of storm Irene, company officials said.
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3rd edition of ‘Bakery & Restaurant Show’ to go on as planned
August 26, 2011
This weekend, the Puerto Rico Convention Center in Miramar will host one of the year’s most appetizing conventions, The Bakery & Restaurant Show 2011, now in its third edition. Last year, the event generated more than $10 million in sales for local industry players.
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EDB gives farmers battered by Irene 3-month break on loan payments
August 26, 2011
In the wake of the destruction Hurricane Irene inflicted upon the agriculture sector, currently estimated at some $20 million, the Economic Development Bank has granted an automatic three-month stay on loans held by insured farmers, agency chief Ivonne Otero said Thursday.
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BBVA lends hand to MDA marathon
August 26, 2011
BBVA Puerto Rico is throwing its support behind the Muscular Dystrophy Association by setting up an electronic donation method through its www.bbvapr.com site, so the general public can contribute during the nonprofit’s Sept. 11 marathon.
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Optum opens toll-free help line to support Irene victims
August 26, 2011
Minnesota-based Optum announced Thursday it has set up a free emotional-support help line – in Spanish and English – for people in Puerto Rico affected by Hurricane Irene. Affected residents can call 866-342-6892 for help managing stress and anxiety.
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U.S. News ranks P.R. among top ‘best adventure’ vacation destinations
August 25, 2011
Puerto Rico has nabbed fifth place in the “Best adventure vacations in the USA” ranking released by U.S. News Media Group Thursday, which listed the island along with the likes of Yosemite and Yellowstone National Parks and the Grand Canyon as one of the hottest places to go for an adrenalin rush.
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Payless ShoeSource parent to close 475 stores, including P.R. locations
August 25, 2011
Collective Brands Inc., parent company of discount shoe chain Payless ShoeSource, will be closing 475 “underperforming and low-volume, non-strategic stores,” including an unspecified number in Puerto Rico, the company announced Wednesday upon reporting shaky second quarter results.
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BK, Pizza Hut deliver hot meals to shelters
August 25, 2011
The emergency created by Hurricane Irene as it cut across Puerto Rico over the past few days activated members of the Puerto Rico Restaurants Association, which in conjunction with the government delivered nearly 200 meals to people who were forced to seek shelter from the storm.
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Hoteliers pitch in post-Irene with special rates for local residents
August 24, 2011
Several hotel chains, including Empresas Santana and Hilton Hotels, launched Wednesday special offers for Puerto Rico and U.S. Virgin Island residents, starting at $99 a night at any of the participating properties.
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Nielsen P.R. service receives MRC accreditation
August 24, 2011
Nielsen, the leading global provider of information and analytics around what consumers watch and buy, announced Wednesday the Media Rating Council (MRC) accreditation of its Puerto Rico television audience measurement service.
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First BanCorp pushes stockholder meeting to Sept. 9
August 24, 2011
After falling short on rounding up the required number of participants for its special stockholders meeting scheduled for Tuesday, when Hurricane Irene was still lashing Puerto Rico, First BanCorp will try again Sept. 9, company officials said.
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Bankrupt Caribe Media to transfer corporate control to lenders
August 24, 2011
Three months after filing for Chapter 11 bankruptcy protection, Caribe Media Inc., the majority owner of Axesa Servicios de Información, which publishes the “official” yellow and white pages directories in Puerto Rico, has given control of the company to its lenders, Bloomberg reported Tuesday.
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