CofC draws promise from Fortuño to eliminate commercial property taxes
June 25, 2011
Gov. Luis Fortuño promised members of the Puerto Rico Chamber of Commerce that he would be submitting legislation to eliminate commercial property taxes placed on unsold inventory, to improve the local business climate.
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Pierluisi lauds passage of bill overhauling federal patent law
June 25, 2011
A bi-partisan Congressional bill proposing sweeping changes of the America Invents Act, which regulates patents, was passed by the House Friday with amendments submitted by Resident Commissioner in Washington, Pedro Pierluisi to benefit Puerto Rico.
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Fortuño announces entrepreneurial alliance to strengthen Caribbean commerce
June 24, 2011
Río Grande -- Gov. Luis Fortuño used as backdrop this year's Puerto Rico Chamber of Commerce Annual convention to announce the establishment of an alliance with the Dominican Republic to further entrepreneurial activities between the islands.
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Claro parent company facing $16K FCC fine for violating foreign ownership rules
June 24, 2011
Mexican telecom giant América Móvil, parent of local incumbent carrier Puerto Rico Telephone (which does business as Claro), is in hot water with the Federal Communications Commission for violating indirect foreign ownership rules after issuing stock that increased owner Carlos Slim and his family’s corporate stronghold.
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Research firm: Popular Inc. “turning corner”
June 24, 2011
Los Angeles-based financial research firm B Riley gave Popular Inc. a cautious pat on the back this week, saying the banking institution has “solidified its capital base, and it appears to be turning the corner on asset quality,” following several years of substantial losses.
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SBA to conduct small business workshop for military women, veterans and spouses
June 23, 2011
The Puerto Rico Office of the U.S. Small Business Administration will conduct a business seminar for women veterans, military service members, and their spouses on June 30, starting at 9 a.m. at the SBA’s facilities in Hato Rey.
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Local co-op sector adds new players, reflects growth curve
June 23, 2011
The island’s cooperative sector added a dozen new players Wednesday, following the certifications of as many groups to operate businesses under that concept on the island, the Puerto Rico Cooperative Development Commission, known as CDCOOP, announced.
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2 local tech companies win top Microsoft Corp. honors
June 23, 2011
Two local companies beat out about 3,000 competitors around the world to nab the distinction of being named Microsoft Partners of the Year, the software giant announced Wednesday.
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Convention Bureau participates in stateside trade show
June 22, 2011
The Puerto Rico Convention Bureau is representing the island during this year’s edition of the AIBTM, The Americas Meetings & Events Exhibition, taking place this week in Maryland. AIBTM is the first large-scale exhibition to bring together the world’s entire meetings and events industry a single location.
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Triple-S CFO Román steps down July 15
June 22, 2011
Managed care provider Triple-S Management Corporation announced Tuesday the departure of its CFO Juan Jose Román, effective July 15. Román has reportedly accepted a position in the financial services industry, prompting Triple-S to begin searching for his replacement, the company said.
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EDB grants $36.5M in small business loans
June 22, 2011
Sixty-seven small businesses in the areas of services, agriculture, manufacturing and technology received a combined $36.5 million in loans from the Economic Development Bank Tuesday, through which they will create some 5,700 jobs, agency President Ivonne Otero announced.
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Farmers lock down permanence of tax incentives
June 22, 2011
The elimination of certain farming incentives proposed in a pair of measures will not come to fruition as a result of the Puerto Rico Farm Bureau’s lobbying efforts at La Fortaleza, the trade organization said Tuesday.
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C-Axis pumps $2.8M into Caguas expansion
June 21, 2011
Precision parts manufacturer C-Axis Puerto Rico Inc. is investing $2.8 million to expand its medical device components line in Caguas, adding 32 jobs in the next 24 months, company officials said Tuesday.
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OneLink’s video service rate increasing July 1
June 21, 2011
OneLink Communications, the San Juan metropolitan area’s only cable television service provider, will be increasing its video service rate by $2.50 cents effective July 1, which for certain customers can represent a hike of close to 5 percent.
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$1.4B highway PPP contract awarded to Goldman Sachs/Abertis consortium
June 20, 2011
The Gov. Luis Fortuño administration announced Monday its decision to turn over the management and upkeep of two island highways, PR-22 and PR-5, to the consortium of Goldman Sachs and Abertis, through a 40-year contract worth more than $1.4 billion.
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