American Airlines further reducing local operations
December 28, 2010
Dallas-Fort Worth-based American Airlines, Puerto Rico's dominant air carrier, will be cutting five more routes from its schedule out of the Luis Muñoz Marín Airport, including several offered by its regional operator, American Eagle.
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Thousands stranded at LMM as blizzard blankets Northeast
December 27, 2010
Nearly two dozen flights in and out of the Luis Muñoz Marín Airport in Carolina were grounded Monday, leaving about 2,000 passengers stranded as a major blizzard dumped significant amounts of snow throughout several states along the Mid-Atlantic and U.S. eastern seaboard.
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Pharma sector growth pinned at 2.5% in ’11
December 27, 2010
esearch firm Business Monitor International on Monday predicted that Puerto Rico's pharmaceutical industry will show a slight growth of 2.5 percent next year, despite the looming threat of the effects of Law 154, which starting in January levies a 4 percent excise tax on foreign corporations doing business on the island.
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Android handset sales expected to grow in ’11
December 27, 2010
The sale and popularity of smartphones running on the Android operating system is expected to explode in 2011, driven by better networks and improved — and cheaper — handsets, industry experts are predicting. The growth is already evidenced in numbers, as according to research firm IDC, Android-based phones sales have spiked 55 percent year-over-year, since […]
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Housing incentives move market
December 27, 2010
In the first three months since the launching of a government program to boost housing sales, some 10,640 units have been sold, representing more than $1.4 billion in economic activity, Housing Financing Authority officials said over the weekend.
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COSVI gets positive affirmation from A.M. Best
December 23, 2010
Insurance ratings agency A.M. Best on Wednesday revised its outlook on Cooperativa de Seguros de Vida de Puerto Rico (known as Cosvi for its acronym in Spanish), to positive from stable and affirmed the company's financial strength rating of B- (Fair) and issuer credit rating of “bb-."
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Public, private sectors tackle copper theft problem
December 23, 2010
As the price of copper continues to rise — more than doubling in the last two years — its theft is also escalating, prompting several local government agencies this week to take a stance against the problem by raiding a number of outlets dedicated to buying the metal without asking for evidence of its origin, as required by law.
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Gift card sales expected to reach $91B
December 20, 2010
Gift card sales are expected to reach $91 billion this holiday season, fueled by new regulations and consumer protections, a stateside research firm said.
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Bankruptcy cases up 10% through November; debt exceeds $2.2B
December 20, 2010
The number of bankruptcy cases filed on the island during the first 11 months of 2010 represented at 10 percent year-over-year increase, according to data released Monday by local research firm Boletín de Puerto Rico.
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P.R. unemployment remains flat in November
December 18, 2010
Puerto Rico’s unemployment rate remained flat in November, compared to the same month in 2009 and the month of October, Labor Department statistics released Friday showed.
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LMM’s Terminal A opens in March
December 18, 2010
The modern facilities of the Luis Muñoz Marín Airport's Terminal A will be put to use starting in March, when it will open after several delays since construction began in 2006.
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Seaborne Airlines expands to LMM
December 15, 2010
St. Croix-based Seaborne Airlines will begin new daily flights between the Luis Muñoz Marín International Airport and the islands of St. Croix, St. Thomas and Vieques starting Jan. 12, the company announced Wednesday.
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Rum excise tax benefit poised for extension
December 14, 2010
Puerto Rico stands to gain if the tax package crafted by President Obama and Republican lawmakers passes in the House, as it contains an extension of the rum excise tax that shores up millions for the island each year.
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CofC, Univ. of Miami to host health insurance conference
December 14, 2010
The Puerto Rico Chamber of Commerce and the University of Miami's School of Business Administration on Tuesday announced a partnership to co-host the Puerto Rico Health & Insurance Conference 2011 "A New Economy in Health Care," on Feb. 2.
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Health clinic planned for LMM
December 12, 2010
The Luis Muñoz Marín International Airport is set to become the first facility of its kind to have a full-service primary care clinic on its premises, with the planned development of Primary Care Center of the USA.
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