The Puerto Rico Ports Authority broke ground on the reconstruction of the Benjamín Rivera Noriega airport in Culebra and unveiled the recently completed improvements to the island municipality’s cargo dock. The projects represent a combined investment of $21.8 million. Ports Authority Executive Director Joel Pizá said the $7.4 million bid process for the airport project, […]
A survey of some 400 entrepreneurs conducted by nonprofit Colmena66 revealed that 21% of participants confirmed they are self-employed due to financial need, 28% work a full-time job while promoting their business, 33% stressed the lack of available financing, and 67% are not exporting, so they have lower income than those who are. Colmena66 — […]
The College of Engineers and Surveyors’ Institute of Civil announced its upcoming summit, the Mega Viernes Civil 2021 (MVC 2021), which returns to its in-person format on July 16, at the Puerto Rico Convention Center in Miramar. Under the slogan of “Ruta al Futuro,” the event will present a sweeping academic, highly technical lineup featuring […]
LeadPivot, a division of Puerto Rican firm Birling Capital, has developed ImmunitaPass Events, an application that allows identifying vaccinated participants of indoor events, such as a recent Puerto Rico Chamber of Commerce (CofC) luncheon. As the COVID-19 pandemic is contained, many organizations are conducting indoor events. The ImmunitaPass safety and risk control software fully identifies […]
The Puerto Rico Polytechnic University announced to its students and the community that it will return to in-person classes during the 2021-22 academic year that starts Aug. 9. However, it will keep its virtual and hybrid courses for students who prefer to study remotely. “We know that many students are eager to actively participate and […]
Orlando Bravo, founder and managing partner of private equity firm Thoma Bravo, today announced a $250,000 donation from his Foundation, the Bravo Family Foundation, to the Support Surfside fund. The Bravo Family Foundation’s donation will support temporary housing for displaced families before insurance arrives, and therapy for those victims. This donation is in addition to […]
The jobs and economic impact anticipated by the Puerto Rico government never materialized. From being an instrument to attract millionaires and foreign investment, Act 22 went on to become a haven for cryptocurrency fans, YouTube personalities and consultants. By Luis J. Valentín Ortiz, Joel Cintrón Arbasetti and Dalila M. Olmo LópezCenter for Investigative Journalism A […]
The latest report by the Puerto Rico Economic Development Bank’s Center for Economic Studies confirmed that increases in fuel prices are “affecting business operations and daily life,” agency President Luis Alemañy said. The price of any good can spike when it’s cost of production increases, inventories are scarce or its market demand is on the […]
Fitch Ratings announced it has upgraded First BanCorp’s (FBP) Long-Term Issuer Default Rating to ‘BB’ from ‘B+,’ with a stable outlook. “The upgrade primarily reflects Fitch’s review of FBP’s blended operating environment score as well as the resiliency of FBP’s financial profile despite the significant challenges in Puerto Rico’s operating environment over the past several […]
Puerto Rico’s hospitality and entertainment businesses are facing a challenge of great proportions, as we continue the economic reopening that we all long for. In the quest to get more people vaccinated, the protection recommendations issued by our government and health leaders are confusing and inconsistent, causing many residents and visitors to lower their guard, […]
Nestlé Professional announced the expansion of its product offering with the integration of its first Puerto Rican bean coffee, Nescafé Espresso Puerto Rico. With the launch of Nescafé Espresso Puerto Rico, Nestlé seeks to continue its strategy to increase coffee sales in Puerto Rico, which have been in recovery after the impact of the atmospheric […]
Integrated healthcare system MSO of Puerto Rico announced it will cover the costs of transferring four resident neurosurgery physicians to the US mainland, to facilitate the completion of their residency requirements. “Puerto Rico needs more health professionals who can serve the population, particularly the elderly. Undoubtedly, neurosurgeons are vital specialists, responsible for the study, diagnosis, […]
Messer Gas Puerto Rico, a subsidiary of Messer Américas, an industrial gas provider, is marking its second anniversary in Puerto Rico with plans to increase its exports throughout the region. David García, general manager for Puerto Rico and the Caribbean said the short-term goal is to expand its footprint of products and services in the […]
Looking to defend consumer rights, the Puerto Rico Department of Consumer Affairs (DACO, in Spanish) is launching several measures to recoup about $950,000 from businesses that have failed their clients, agency Secretary Edan Rivera said. During a press conference, the government official said among other steps, the agency will disclose the names of businesses monthly […]
Municipalities, government agencies and nonprofit organizations in Puerto Rico have completed 337 permanent works projects with funds allocated under the Federal Emergency Management Agency’s Public Assistance program, the Central Office of Recovery, Reconstruction and Resiliency (COR3) confirmed. “FEMA has obligated more than $24 billion under the Public Assistance program, including more than $18 billion for […]
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