Trupanion pet insurance company expands into P.R.
July 19, 2011
The U.S. mainland’s $300 million pet insurance industry is adding a new market to its footprint, with the expansion of Seattle, WA-based Trupanion’s expansion into Puerto Rico, effective immediately.
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Life Fitness opens 1st store in P.R.
July 19, 2011
Illinois-based Life Fitness, a leading commercial fitness equipment manufacturer and distributor, is opening its first Life Fitness store in Caparra area, from where it will showcases a full-line of Life Fitness cardio and strength equipment for both commercial and home use.
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Borders going-out-of-business sales to start Friday, stores to close by September
July 19, 2011
Borders Group, parent of the U.S. mainland’s once-dominant book retailer, is marking the final chapter of its 40-year history by seeking the U.S. Bankruptcy Court’s approval Friday to sell itself off to a liquidator, a decision that is expected to immediately trigger a going-out-of-business sale that will wrap up sometime in September.
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First BanCorp amends agreement with investors, could raise up to $562.3M in new capital
July 19, 2011
FirstBank Puerto Rico’s parent company, First BanCorp, announced Monday it has amended the agreements struck with private equity firms Thomas H. Lee Partners, L.P., Oaktree Capital Management, L.P., and other investors to increase the amount of the proposed capital raise from $515 million to $525 million.
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2 major Spanish banks doing business in P.R. ace European ‘stress test’
July 19, 2011
Two major Spanish banks with long-standing presence in Puerto Rico passed the European Banking Authority’s 2011 stress test of institutions in 21 countries, to assess their resilience against the current economic scenario.
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Ritz-Carlton officially presents its Dorado Beach Reserve property
July 18, 2011
A day ahead of the first scheduled walk-through of the property, the Ritz-Carlton Hotel Company, L.L.C. announced Monday the official launch of the Dorado Beach, a Ritz-Carlton Reserve, the first of its kind in the Americas and the second under the luxury brand in Puerto Rico.
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Cement sales reflect 6% year-over-year drop in June
July 18, 2011
Puerto Rico’s cement sales, a key economic indicator, decreased by 6 percent last month in comparison to the same month in 2010, the latest Government Development Bank figures reveal.
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The DRS Group buys Pro Image Corp., seeks to break into 3 more markets
July 18, 2011
Document scanning, imaging and conversion company The DRS Group recently expanded its footprint into Puerto Rico, with the acquisition of Pro Image Corporation, for an undisclosed amount.
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Signature Flight Support buys Tropical Aviation Corp.
July 15, 2011
Orlando, Fla.-based Signature Flight Support announced Friday its acquisition of Tropical Aviation Corp. operating out of Isla Grande’s Fernando L. Rivas Dominicci Airport. The amount of the transaction was undisclosed.
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Borders on track for liquidation, P.R. exit likely
July 15, 2011
The decision Thursday by the U.S. Bankruptcy Court judge overseeing the Borders Chapter 11 proceeding could send the bookstore chain, which still has one location left in Puerto Rico, into a liquidation of its assets.
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CNE: Treasury’s revenue collections estimates no sign of economic improvement
July 15, 2011
The Treasury Department’s preliminary year-end General Fund report released Wednesday showing an uptick in revenue collections may not necessarily be a sign of real economic improvement, the Center for the New Economy said Thursday upon analyzing the results.
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Obama signs disaster declaration for 12 towns
July 14, 2011
President Barack Obama signed Thursday an order declaring 12 towns as disaster areas, following severe storms, flooding, mudslides, and landslides during the period of May 20 to June 8, 2011. The order makes it possible for Puerto Rico to receive federal aid to supplement the expenses incurred by the central and municipal governments.
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Doral launches new online mortgage service
July 14, 2011
Looking to offer “better service and transparency” to its mortgage clients, Doral Bank unveiled Monday a new online service through which account holders can immediately access their history and information with the bank.
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Women’s Affairs Advocate, Walmart ally against domestic violence
July 14, 2011
For the second time in less than two months, the Women’s Affairs Advocate has teamed up with a large local retailer to continue spreading the word against domestic violence. This time, the agency partnered with Walmart Puerto Rico to reach the thousands of customers who flock to the stores on a daily basis.
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SIF policy payment deadline looming, agency now accepting American Express
July 14, 2011
Island employers have a week left before the July 20 deadline to file their payroll information and pay their workers’ insurance policy at the State Insurance Commissioner, agency administrator Zoimé Álvarez said Wednesday.
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