CRIM opens 90-day property tax amnesty
July 14, 2011
roperty owners who are in arrears on their tax payments to the Municipal Collections Center have until Oct. 11 to take advantage of a temporary amnesty that grants the full elimination of interest, penalties and charges over the debt.
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Popular Inc. to buy Wells Fargo Advisors LLC Puerto Rico branch assets
July 13, 2011
Popular Inc. announced Wednesday the signing of a definitive agreement with Wells Fargo Advisors LLC Puerto Rico for the acquisition of the latter company’s assets. This agreement allows Popular to acquire 1,750 accounts and assets under management for approximately $500 million, which will be handled by Popular Securities.
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General fund revenue collections top $8.1B in fiscal ’11, companies account for 10% of total
July 13, 2011
Foreign and non-resident companies doing business in Puerto Rico accounted for 10 percent of fiscal 2011’s General Fund collections, which reached more than $8.1 billion, preliminary results offered Wednesday show.
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USDA awards $21K for food safety training
July 13, 2011
The U.S. Department of Agriculture announced Tuesday it will award 25 grants to 19 states and Puerto Rico to boost market opportunities for local entrepreneurs.
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Scotiabank ready to expand local footprint
July 13, 2011
Scotiabank de Puerto Rico’s successful takeover of R-G Premier bank’s failed assets some 15 months ago was “the best decision” the institution could have made, as it has increased its customer base tenfold and opened the door to expanding its footprint, high-ranking officials said during a roundtable discussion with members of the local media.
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Housing Stimulus program moves 12,491 dwellings representing $2.1B in sales
July 12, 2011
Puerto Rico home sales generated during the first 10 months of the government’s Housing Stimulus 2011 program reached 12,491 new and existing units, reflecting an increase in activity of 37.5 percent compared with the same period in 2010, the Puerto Rico Housing Finance Authority officials said Tuesday.
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New $1.2M fresh milk ad campaign focuses on fun
July 12, 2011
The Milk Industry Development Fund unveiled Monday its newest advertising push for the island’s Grade A product, spending $1.2 million to deliver the message that fresh milk is a fun part of being healthy.
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La Concha opens $1.2M Voga Italian Grill
July 12, 2011
The Voga Italian Grill, the newest option in the Condado sector of San Juan for Italian food lovers, recently opened at La Concha A Renaissance Resort, following at $1.2 million investment.
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Farmers score $1M in new business last weekend
July 12, 2011
A group of 100 farmers and agricultural executives participated in a handful of activities over the weekend in Puerto Rico and stateside that could generate more than $1 million in sales of local products both locally and abroad, the Agriculture Department said Monday.
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GSA looking for operator for Maunabo’s Punta Tuna lighthouse
July 12, 2011
In coming months, the U.S. General Services Administration will be turning over the stewardship of 12 historic lighthouses around the country, including the emblematic Punta Tuna lighthouse in Maunabo, the agency announced recently.
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San Juan-based Syndicate Holdings picks up insurance division in U.K. for $110M
July 11, 2011
San Juan-based Syndicate Holding Corp. is buying HSBC Holdings PLC’s United Kingdom motor vehicle insurance division for $110 million in cash, the latter company announced Monday.
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Health Dept. owes MCS-HMO $242M
July 11, 2011
MCS-HMO, the private company that for the past nine months managed MI Salud health benefits throughout most of the island, presented documentation Monday confirming it is owed $242.6 million in payments and premiums by the Health Services Administration, known as ASES in Spanish.
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Sony Puerto Rico franchising retail concept, looks to open 3 new stores in ’12
July 11, 2011
Sony Puerto Rico is looking to expand its local footprint, and generate opportunities for island entrepreneurs in the process, by franchising its Sony Style retail operation to open three new stores starting late 2012, News is my Business has learned.
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MIDA resolves to defend federal nutritional aid, push for restoring $450M SNAP funding
July 10, 2011
The Marketing, Industry and Food Distribution Chamber resolved Saturday to lobby — at the local and federal levels — to protect the close to $2 billion in federal funds Puerto Rico receives to float the Nutritional Assistance Program during next year’s Farm Bill review, organization officials said during its general assembly.
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Amgen, NASA partner to conduct R&D aboard space shuttle Atlantis
July 10, 2011
When space shuttle Atlantis took off on its final mission Friday, it was carrying a crew of special tiny passengers that are part of an advanced research and development project that could benefit humans for decades to come.
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