Borders Carolina store closing April 15
April 5, 2011
Time is running out for the Borders bookstore in Carolina, which is set to close on April 15 — just two weeks shy of the contractual deadline that Illinois-based Hilco Merchant Resources, LLC has to finish liquidating as much as it can from the stores destined to close.
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Stateside Sbarro Ch. 11 petition spares P.R. operation
April 4, 2011
Fast-food Italian eatery chain Sbarro filed for Chapter 11 bankruptcy protection for its stateside business, a decision that is not expected to affect the local eight-restaurant operation, News is my Business learned Monday.
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SWA announces e-waste recycling event
April 4, 2011
If you’re one of thousands of consumers with old, useless electronic equipment lying around your home or office, you will have the chance to dispose of those devices properly next weekend during the Solid Waste Authority’s e-waste recycling event.
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GDB economic activity index shows 0.4% growth in February
April 3, 2011
Puerto Rico’s Economic Activity Index for February showed the first month-over-month increase, of 0.4 percent in comparison to January, since October 2010, the Government Development Bank said Sunday.
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NY Fed chief: P.R. showing signs of improvement
April 1, 2011
Puerto Rico’s economy may be showing signs that it is finally emerging from the recession it has been under for the past five years, but conditions still remain difficult for many as the island pulls out of its slump, Federal Reserve Bank of New York President William Dudley said Friday in a presentation during the E-3 Summit of the Americas conference in San Juan.
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First BanCorp unable to file timely ’10 annual report with SEC
April 1, 2011
First BanCorp on Friday informed the Securities and Exchange Commission that it will not be able to file its annual report for the year ended Dec. 31, 2010 on time, “without unreasonable effort and expense,” as it has not finished preparing the documents for that filing period.
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Saborea weekend food fest to pump $1.8M into economy
March 31, 2011
This weekend, the eyes of the culinary world will be on Puerto Rico, with the start of Saborea Puerto Rico: A culinary extravaganza! For the fourth edition of the event, 55 local and international chefs as well as 60 local restaurants will gather on the beachfront Punta del Escambrón, in San Juan, to enjoy a weekend of food, drink and cooking exhibits.
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Full text of the IRS resolution on 4% excise tax credit
March 31, 2011
On Thursday, News is my Business obtained a copy of the notice the Internal Revenue Service sent to the government of Puerto Rico with regards to the federal credit granted for the 4 percent excise tax that went into effect in January.
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IRS confirms 4% excise tax can be written off federal return
March 31, 2011
Local manufacturing companies subjected to the 4 percent excise tax imposed in January through Law 154 may want to breathe a sigh of relief, as the Internal Revenue Service has confirmed that they will be able to take a credit on their federal income tax returns for the amount paid in Puerto Rico.
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American Eagle facing hefty FAA fine
March 30, 2011
Executive Airlines, which serves the Caribbean out of San Juan as American Eagle, is facing a $550,000 fine from the Federal Aviation Administration for failing to complete appropriate inspections on several aircraft.
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BPPR to sponsor luxury property auction in May
March 30, 2011
New York-based real estate auctioneer Sheldon Good & Co. and Banco Popular de Puerto Rico announced Wednesday an upcoming joint auction of 101 luxury residences and villas located in five developments throughout the island.
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$40M hotel/commercial complex planned for Laguna area
March 29, 2011
A $40 million mixed-use project is in the works for the Laguna Shopping Center area in Carolina that calls for developing a trio of multi-story towers to be split between hotels and commercial spaces.
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British Airways revives connection between UK, P.R.
March 29, 2011
British Airways made its return to Puerto Rico after an 11-year absence with an inaugural flight that carried 280 passengers into Luis Muñoz Marín Airport in Carolina on Monday and once again joined the two islands.
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Gov’t focuses on women entrepreneurs, grants $3.3M in loans
March 28, 2011
Local women entrepreneurs were the focus of the government’s attention Monday, when Gov. Luis Fortuño met with a small group to “acknowledge the vital role they play in boosting our economy.”
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Banco Santander Puerto Rico again included in list of best emerging banks
March 27, 2011
For the fourth time in the past five years, Banco Santander Puerto Rico has landed a spot on the list of “Best Emerging Market Banks in Latin America,” a ranking published by the editors of Global Finance magazine that includes 23 countries in Central and South America and the Caribbean.
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