Evertec Inc. reports 11% 2Q revenue jump
August 13, 2011
Evertec Inc. reported Thursday that its total revenue increased by $7.4 million during the second quarter ended June 30, or 11 percent to $76.2 million, when compared to the same period in 2010, an improvement the company attributed in part to last year’s banking consolidation and certain improvements in the island’s economic activity.
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Best Western Airport hotel management files for Ch. 11
August 12, 2011
Just three years after taking over the control of the Luis Muñoz Marín International Airport’s 125-room Best Western hotel, management company Hotel Airport Inc. has filed for Chapter 11 bankruptcy protection.
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Moody’s places UPR ‘Baa1’ credit rating on watch for possible downgrade
August 12, 2011
Moody's Investors Service has placed the University of Puerto Rico's ratings on Watchlist for possible downgrade, affecting $652 million of rated debt issued through AFICA, as the as the Authority of Financing for Industrial, Tourism, Educational, Medical and Environmental Control Facilities is known.
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SBA to conduct business development seminars for veterans
August 12, 2011
The Puerto Rico Office of the U.S. Small Business Administration invites veterans, members of the Armed Forces and their spouses to attend its upcoming events aimed at promoting small business ownership among the military community along the island's northwestern region.
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PREPA: June energy consumption generates $434.6M in revenue
August 12, 2011
The Puerto Rico Electric Power Authority generated more than $434.6 million in revenue from island residential and commercial consumers, who burned through more than 1.5 billion kilowatt-hours of energy in June, the start of the sweltering summer season.
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Humacao, Ceiba toll plazas to become cashless Aug. 20
August 12, 2011
Three more toll plazas will become completely cashless effective Aug. 20, when the Department of Transportation and Public Works will finish converting the Humacao North and South, as well as Ceiba locations on PR-53, agency Secretary Rubén Hernández Gregorat said Thursday.
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AMR takes ‘next step’ in bid to spin off Eagle
August 12, 2011
AMR Corporation took the next step Thursday in the process of spinning off its regional carrier American Eagle by filing the required paperwork with the U.S. Securities and Exchange Commission.
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Retail sales remain flat in April at $2.76B
August 11, 2011
Puerto Rico shoppers kept a tight grip on their pockets during the month of April, when retail sales totaled $2.76 billion, remaining virtually flat in comparison to the same month last year.
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Planning Board green-lights $477M in projects in 4Q ’11
August 11, 2011
The Puerto Rico Planning Board approved an investment of more than $477.2 million in new development projects between April and June that aside from generating new construction, will also create 1,042 jobs, agency President Rubén Flores-Marzán said.
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GDB raises more than $1B in pair of bond issues
August 11, 2011
The Public Buildings Authority sold more than $1 billion in bonds in the Puerto Rico and U.S. markets within the last week, which it will use to build and upgrade some 100 public schools and repay a credit line it has with the Government Development Bank, GDB President Juan Carlos Batlle said Wednesday.
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EPA takes action against Arecibo battery recycling company
August 10, 2011
The U.S. Environmental Protection Agency announced Wednesday it has taken legal action against the Battery Recycling Company Inc. requiring the company to take multiple actions to reduce the pollution of air and water from lead at its Arecibo facility.
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Health care groups in Caguas, Ponce receive $1.3M from U.S. Dept. of Health
August 10, 2011
Two local organizations, Corporación SANOS in Caguas and Consejo de Salud de Puerto Rico Inc. in Ponce, are receiving more than $1.3 million in combined funds from the U.S. Department of Health’s Affordable Care Act to expand their healthcare offerings to continue serving underprivileged communities.
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Telecom Board to issue decision on Claro TV license in 2 weeks
August 10, 2011
Following two tough days of public hearings on Claro’s petition for a cable operator franchise license to launch its paid television service via broadband, the Telecommunications Regulatory Board announced Tuesday it will issue its decision within the next two weeks, News is my Business learned.
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Motorola Mobility, Claro launch Motorola Pro
August 10, 2011
Motorola Mobility Inc. and Claro announced this week the arrival of Motorola Pro, the first Android-based Smartphone optimized for business use. The new mobile combines productivity, security and customization tools with a powerhouse with a super-fast processor and physical QWERTY keyboard for more efficient typing and texting.
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Salvation Army to invest $30M in new headquarters, community center
August 10, 2011
Just in time for its 50th anniversary in Puerto Rico in 2012, the Salvation Army is flexing its muscles with the move of its central headquarters to a Santurce building and the construction of a multiple-use community center in Guayama. Both projects represent a hefty $30 million investment in the island’s economy.
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