Latin American McDonald’s owner plans $1B IPO
March 25, 2011
Arcos Dorados Holdings Inc., parent company of Puerto Rico’s McDonald’s restaurant chain, announced Friday its planned debut as a public company on Wall Street with an initial public offering of nearly 62.5 million Class A shares to be listed on the New York Stock Exchange.
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Gov’t housing incentive program moves more than $1.7B in property sales
March 24, 2011
With just three months left before the government’s housing incentives program comes to an end, Housing Finance Authority Executive Director George Joyner urged consumers looking to buy a property to avoid waiting until the last minute.
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Ferry operator asks Obama administration to approve passenger service to Cuba
March 23, 2011
Miami-based United Americas Shipping Services Inc. asked the federal government Wednesday to allow ferry service to Cuba to compete freely with air carriers in transporting U.S. travelers to the communist island nation.
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P.R. to host large-scale library association convention
March 23, 2011
The International Federation of Library Associations and Institutions, or IFLA, will be holding its 77th annual convention in San Juan, Aug. 13-18, an event that is expected to draw thousands of participants and represent an economic boost to the island estimated at $6 million.
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South American countries support livestock cloning
March 22, 2011
Three Latin American countries — Argentina, Brazil and Paraguay — are among five nations that recently threw their support behind livestock cloning as one of many agricultural technologies that can help meet the world’s growing demand for sustainable food production.
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FirstBank wins $83.1M Coral Gables foreclosure case
March 21, 2011
FirstBank Puerto Rico recently won a foreclosure case worth $83.1 million related to an upscale residential development project located at the heart of Coral Gables, the South Florida Business Journal reported.
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Significant transactions that changed Puerto Rico’s wireless landscape in the last decade
March 21, 2011
October 2004 — The former Cingular Wireless, a joint venture of SBC Communications and BellSouth, completed a $41 billion merger with AT&T Wireless Services Inc., formerly part of AT&T Corp. But the changes did not stop there. In December 2006, Cingular became wholly owned by the new AT&T as a result of the latter’s acquisition […]
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AT&T to buy T-Mobile for $39B, deal includes P.R. market
March 20, 2011
Wireless telecom giant AT&T disclosed plans Sunday to acquire competitor T-Mobile USA for a cash and stock transaction worth $39 billion from its parent, Deutsche Telekom. In Puerto Rico, the deal would represent the marriage of the number one and number three wirele ss carriers, the reduction of the number of players to four, and […]
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Plaza Carolina in line for a facelift
March 17, 2011
Plaza Carolina, the island’s second-largest shopping center, will be getting a facelift starting this Spring when an undisclosed amount will be pumped into sprucing up the retail complex, owner Simon Property Group Inc. said Thursday.
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Walmart de Puerto Rico launches renewable energy initiative
March 17, 2011
Nearly two years after announcing plans to harness solar power to cut down on its energy consumption, Walmart de Puerto Rico unveiled the first of several rooftop solar systems it plans to install throughout its local stores, in conjunction with Sun Edison LLC.
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Corolla reports 20% February sales growth
March 15, 2011
Toyota vehicle sales on the island were brisk last month, when the company reportedly moved 2,081 units, or 20 percent more when compared to February 2010 sales, company officials said Monday.
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Guayacán opens application process for advanced workshop program
March 14, 2011
Venture capital fund Grupo Guayacán Inc. announced Monday the second edition of the Guayacán Venture Accelerator program, offering 10 local companies the opportunity to explore ways to grow their operations through an advanced course of study.
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Trump plans for P.R. remain solid, could include future hotel development
March 10, 2011
The possibility that Puerto Rico could be selected as the location for a Trump-branded, five-star resort is not so far-fetched. However, it will depend on lining up the right conditions — starting with an improvement in the economy.
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Pridco grants $100K to robotics institute
March 10, 2011
Public and private school students of all levels will have a greater chance of joining robotics competitions next school year as a result of a $100,000 sponsorship the Puerto Rico Industrial Development Corp. will grant the Puerto Rico Institute of Robotics, the agency announced Thursday.
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PRMA lobbies for key labor reform issues
March 9, 2011
The Puerto Rico Manufacturers Association reiterated Wednesday its desire to collaborate with the government and the rest of the private sector to develop and promote measures that stimulate job creation, contribute to Puerto Rico’s economic development and increase worker productivity.
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