Puerto Rico’s Economic Activity Index (EDB-EAI) reached a maximum level of 118.9 points, a number that represents a year-over-year increase of 8%, Economic Development Bank President Luis Alemañy confirmed. “This is the fourth year-over-year increase after 12 consecutive decreases. If compared to the previous month, the EDB-EAI growth rate decreased 0.5%. The interannual results reflect […]
PASH Global (PASH) and Oriental Bank in Puerto Rico have closed on a $15 million financing for a joint venture between PASH and PUMA Energy that will enable 200 PUMA gas stations in Puerto Rico to produce and consume solar energy. This project is the first of its kind and scale on the island, the […]
The maritime connection between Puerto Rico and the island municipalities of Vieques and Culebra will see the arrival of several additional passenger and cargo vessels — expanding the fleet to nine — by year’s end, Matt Miller, president of HMS Puerto Rico, confirmed. In an interview with News is my Business, Miller also said the […]
Technology services company 7 Eagle Group Caribe ViPR-SOC (7EGC) will be the first “Quantum-Resistant” cybersecurity operation in the United States and Puerto Rico and will be established in the island starting in the first quarter of 2022. As part of its upstart, the firm received $6.6 million in incentives which will be directed toward construction, […]
The pace at which Puerto Rico’s tourism sector has been recovering since the start of the pandemic has been “astounding,” exceeding the Caribbean and US averages, said Discover Puerto Rico CEO Brad Dean during the organization’s monthly industry update. Citing its internal data, the DMO confirmed that June and July’s lodging demand pushed the year-to-date […]
At a virtual event on Aug. 17, ESPN and partners officially opened a newly transformed multifunctional sports space dedicated to the local community and its residents. The site is the 10th in the global “Built to Play” project series, led by ESPN. Partners on the project include the local community, with love.fútbol, Coaches Across Continents, […]
The Puerto Rico Blockchain Trade Association announced a partnership with CryptoMondays San Juan, which “will make events more inclusive and accessible, empowering Puerto Ricans to tap into education, networking, and employment opportunities.” “Our weekly events on the island bring blockchain enthusiasts, entrepreneurs, investors, and developers together,” said CryptoMondays San Juan organizer Pedro Rivera. “The power […]
WAPA Television announced the creation of a new internship program between WAPA’s NotiCentro newscast and the University of Puerto Rico’ Mayagüez Campus (known as the RUM). The program, which establishes a Meteorology Communication Laboratory will benefit students pursing degrees in meteorology at the RUM — the only training center for future meteorology professionals in Puerto […]
Puerto Rico’s tourism sector will get $120 million in American Rescue Plan funds to promote the island as a destination and develop five specific projects, Gov. Pedro Pierluisi said. “Tourism is one of the most important and fastest growing economic sectors in the world, with an annual growth of 2.5% during the last decade,” said […]
As part of its efforts to promote economic and technological development and employment on the island, parallel18 is launching the Talent App, a tool for students, freelancers and professionals to submit their information and upload their resume to a talent database that will be available to more than 300 companies that belong to the accelerator programs. […]
Failures and frustrations identified in the first two months of LUMA Energy’s operation of Puerto Rico’s energy grid highlight underlying flaws with the privatization contract, according to an analysis by the Institute for Energy Economics and Financial Analysis. Since the June 1 takeover, Puerto Rico residents “have experienced significant problems because of LUMA’s implementation of its electric […]
The Puerto Rico Public Relations Professionals Association (ARPPR, in Spanish) announced it will offer its members access to seminars and courses with continued education through a new on-demand platform. The new benefit will include a catalogue of the courses the association has offered since 2020, as well as access to its professional development program “in […]
The National Council of State Tourism Directors of the US Travel Association awarded Brad Dean the organization’s highest recognition, “State Tourism Director of the Year,” for the “exceptional results achieved under his leadership for the accelerated recovery of the visitor economy in Puerto Rico.” The award was announced during the US Travel Association Convention held […]
After several months of negotiation, the Puerto Rico Ports Authority and local company Flexitank Inc. signed a new 20-year lease for facilities the agency owns, Ports Executive Director Joel A. Pizá said. Flexitank will invest more than $1.7 million in improvements to Ports Authority facilities located in the Mercado Central of the Puerto Nuevo pier […]
The Puerto Rico Ports Authority announced it has submitted a grant application to the US Department of Transporation’s Maritime Administration, seeking $10 million to cover 80% of the cost associated with rehabilitating operations at Pier 15 at the Port of San Juan. The federal funding is being requested under the Port Infrastructure Development Program, Ports […]
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