Hamilton Sundstrand’s P.R. operations receive distinction
April 27, 2011
Hamilton Sundstrand’s electronics operation in Santa Isabel has been chosen by Bombardier Aerospace as one of this year’s eight recipients of its recently established Bombardier Achieving Supplier Excellence, or BASE, recognition award, it was announced Wednesday.
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Pridco promotions maintain steady pace in fiscal ’11
April 26, 2011
The Puerto Rico Industrial Development Co. has promoted a total of 45 industries during the first nine months of the current fiscal year, keeping up with the pace it showed during the same period last year, the agency’s most recent data shows.
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Popular Inc. back to black, reports $10.1M net income in 1Q
April 25, 2011
Buoyed by a reduction in the island’s corporate tax rate and the sale of its equity stake in Consorcio de Tarjetas Dominicanas, S.A., Popular Inc. on Monday reported net income of $10.1 million for the first quarter ended March 31, an improvement over the net loss of $85.1 million during the same period the year before.
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Local delegation drums up $5M in business in Panama
April 25, 2011
A delegation of 14 local companies organized by Puerto Rico Trade to participate in the international Expocomer 2011 fair held in Panama late last month generated nearly $5 million in immediate and future sales in the areas of technology, food, construction and renewable energy, the agency announced Monday.
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Medtronic solves issues brought up in FDA warning letter
April 25, 2011
Nearly two years after running into problems with the U.S. Food & Drug Administration over compliance issues at its Juncos plant, Medtronic has successfully resolved the issues mentioned in the warning letter.
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Victoria’s Secret eyes P.R. as part of int’l expansion
April 22, 2011
Ohio-based retailer Limited Brands is looking to open its first Victoria’s Secret location in Puerto Rico, after years of serving local customers exclusively via online and catalog orders. The store is slated to open in Plaza las Américas in Hato Rey.
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Toys R Us begins selling iPad 2 nationwide, P.R. stores included in roll-out
April 21, 2011
Techies looking to pick up an Apple iPad 2 will have yet another, albeit unlikely, retail location to go get it starting this week — Toys R Us.
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P.R. gas prices still below US levels
April 21, 2011
As the price of gasoline officially soared to more than $4 a gallon in six U.S. jurisdictions, and counting, the price for gasoline in Puerto Rico remained slightly below that threshold over the weekend.
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Fire breaks out at former San Juan Star building
April 21, 2011
The former San Juan Star building on Kennedy Avenue caught fire Monday, requiring the presence of a contingent of firefighters to put out the blaze.
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Warner Chilcott global restructuring entails elimination of 87 local jobs
April 21, 2011
Ireland-based specialty pharmaceutical company Warner Chilcott on Monday announced plans to restructure its European operations and finalize the conversion of its Manatí plant into a warehouse, supposing the elimination of 87 jobs effective mid-May.
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El San Juan Hotel & Casino has new GM
April 21, 2011
The 382-room El San Juan Hotel & Casino, A Waldorf Astoria Hotel in Isla Verde has a new general manager, George García, who has been appointed by Hilton Worldwide to oversee the property.
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AT&T files FCC petition for approval of T-Mobile buyout
April 21, 2011
Exactly 30 days after announcing plans to acquire rival wireless carrier T-Mobile, AT&T Inc. filed Thursday the petition for authorization of the transaction at the Federal Communications Commission, the agency confirmed on its website.
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Doral reports $3.3M net income increase in 1Q
April 20, 2011
Doral Financial Corp., parent company of Doral Bank, released quarterly results Wednesday that reflected $3.3 million in net income for the period ended March 31, a marked improvement from the $36.1 million in net losses on record for the prior quarter ended Dec. 31, 2010.
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Retailers report slight growth in ’10, rising cost of food, gas likely cause
April 20, 2011
The island’s retail sector ended 2010 with a slight 1.85 percent year-over-year increase, generating more than $2.3 billion in activity. However, the rising costs of food, gasoline and medicines, coupled with the influx of federal funding, could explain the spending growth.
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2 major manufacturers say effects of P.R. 4% excise tax ‘positive,’ pay combined $20M in 1Q
April 20, 2011
Two major manufacturing plants employing more than 2,000 people on the island paid a combined $20 million to the government of Puerto Rico during the first quarter, related to the recently effected 4 percent excise tax on foreign corporations.
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