Global travel site Big 7 Travel has officially released its annual list of “The 50 Best Islands in The World,” where Puerto Rico’s pristine island municipality of Culebra ranked 42nd. “Culebra is one of Puerto Rico’s most stunning gems, just 20 miles off the coast of Fajardo. It’s surrounded by more than 20 cays and […]
US Sen. Bob Menendez (D-N.J.), a senior member of the Senate Finance Committee, and Roger Wicker (R-Miss.) reintroduced the Territory Economic Development Tax Credit Act (TEDTCA), which would create a tax credit for wages and tangible investments made by US-based businesses in US territories. This bill will support job creation and help strengthen the US […]
Yabucoa-based Chemical Solutions, LLC acquired the rights to manufacture in Puerto Rico hypochlorous acid, an organic, water-based disinfectant that combats virus and bacteria, and is 99% effective, company officials announced. After months of negotiations and through a $1.1 million investment, this new manufacturing line will catapult Chemical Solutions into the international market, making it the […]
The Puerto Rico Police Members Association (AMPPR, in Spanish), in partnership with Orchid Funding LLC, announced the launch of a new lending program for its members, public employees, and pensioners. In anticipation of the lending platform’s launch, AMPPR and Orchid closed a $25 million credit facility with Celeres Capital Advisors LLC, Medalist Partners LP, and […]
Once upon a time, tourism in Puerto Rico meant just one thing: the beach. Recently, thanks to the promotional talents of Discover Puerto Rico and operators with vision, a second tourism frontier emerged and solidified on the island: exciting experiences and adventures in municipalities away from the beach, with Toro Verde leading the pack. The […]
In an effort to support minority-owned businesses as they navigate the continued economic impacts of COVID-19, the Citi Foundation awarded 50 nonprofits a total of $25 million in funding. Puerto Rico’s Pathstone Enterprise Center Inc. received a $500,000 unrestricted grant as part of that funding cycle, Citi Foundation confirmed. The nonprofit that provides disaster relief […]
The U.S. Small Business Administration provided an update on the progress of its Shuttered Venue Operator program, confirming that as of July 26, it has approved 28 awards in Puerto Rico amounting to a little more than $4.2 million. The agency also confirmed it awarded one SVOG grant for $92,956 to a program participant in […]
The Puerto Rico Housing Department recently awarded global consulting and digital services provider ICF a $13 million contract amendment to expand the implementation of the agency’s Single Family Rehabilitation, Reconstruction & Relocation Program (R3). The contract for this work currently runs through summer 2022, ICF confirmed. R3 is a Community Development Block Grant Disaster Recovery […]
Uber Eats announced it is expanding beyond food deliveries by integrating a greater variety of businesses in its platform. Currently, users can find in the app stores such as the virtual supermarkets Jetson and La Comprita, and even convenience stores such as 24 Market. “As a technology company, continuous innovation is part of Uber Eats’ […]
Pirtek USA, a Florida-based on-site and retail hydraulic and industrial hose service provider, opened its newest location in Puerto Rico earlier this month, in San Juan. It will focus on providing 24/7 on-site service to the area’s hydraulic and industrial based businesses. The franchise is owned and operated by Wendelyn Cortés and José Zayas. The […]
First BanCorp, the parent company of FirstBank Puerto Rico, reported net income of $70.6 million, or $0.33 per diluted share, for the second quarter of 2021, up 231% from the $21.3 million, or $0.09 per diluted share on record for the same year-ago quarter. The quarter includes a net benefit of $26.2 million recorded to […]
The Luis Muñoz Marín International Airport (LMM) posted the strongest recovery related to passenger traffic, exceeding second quarter 2019 levels by 10% driven by a high double-digit increase in domestic traffic, which more than offset a weaker international performance, Adolfo Castro-Rivas, CEO of Grupo Aeroportuario del Sureste, confirmed The Mexican firm, known as ASUR, is […]
Electronic commerce was already on an upward trend, but it grew exponentially in the last year — by 300% in 2020, based on changes in consumer buying habits and the challenges faced by the markets. In the business segment, digital channels such as video conferencing and live chat have emerged as the predominant means for […]
Spirit Airlines announced it will launch direct, nonstop flights between Atlantic City in New Jersey to Luis Muñoz Marín International Airport (LMM) starting Oct. 31. There will be three flights available a week to connect Puerto Rico with the Atlantic City International Airport (ACY), the carrier announced. It is also launching flights between Atlantic City […]
The U.S. Department of Agriculture announced it is extending the COVID-19 Special Relief Measure for USDA’s Single-Family Housing Guaranteed Loan borrowers. The special relief measure provides new alternatives to help borrowers get up to a 20% reduction in their monthly mortgage principal and interest payments, said Luis R. García, USDA Rural Development acting state director […]
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