Oriental expands access to PPP loans under new guidelines
March 3, 2021
Oriental announced it will expand access to loans for small and medium-sized businesses (SMEs) under the US Small Business Administration’s new guidelines for the Payroll Protection Program (PPP). Oriental has already awarded some $300 million in loans to more than 3,500 businesses between the first round and so far in the second round of this […]
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Practical Techie: Learning new tech, unlearning the old
March 3, 2021
The Information Highway is hot and fast-moving as never before with technological trends moving nonstop up and down the fast lanes. In 2021, innovative trends are in full view and accelerated. As we cruise along, cybernauts are pushed constantly to learn the new tech, relearn the usual and unlearn the old. We have to keep […]
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Liberty Puerto Rico to pump $70M into local, USVI network this year
March 2, 2021
As it moves into serving more than 1 million new wireless customers through its acquisition of AT&T, Liberty Puerto Rico will be investing close to $70 million to integrate the networks and systems. Liberty took over the wireless carrier’s assets on Oct. 31, 2021, after which it began the process of managing and merging both […]
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Evertec reports $510.6M in Fiscal ’20 revenue; $134.2M in 4Q20
March 2, 2021
San Juan-based Evertec disclosed its financial results for the fourth quarter and full year ended Dec. 31 2020, reporting a 6% quarter-over-quarter revenue increase to $134.2 million and 5% revenue growth of 5% to $510.6 million year-over-year. For the fourth quarter, the firm stated that GAAP net income attributable to common shareholders was $32.3 million, […]
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Habitat for Humanity finishes home repairs in 5 communities in Guayama
March 2, 2021
A total of 37 families in the town of Guayama now have a safe roof over their heads through an initiative by Habitat for Humanity of Puerto Rico and its Housing Repair Program, created to aid in the rehabilitation and reconstruction of homes across the island affected by the Hurricanes Irma and María. The project, […]
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Money Express marks 25th anniversary with innovation, branch upgrades
March 2, 2021
Puerto Rican financial institution Money Express is marking its first 25 years on the island looking ahead toward adopting new technologies and optimizing its branches to secure its growth. Its plans include redesigning its web page to include new products, namely “Prestamás,” which provides loans of between $5,000 and $15,000 and the alternative of applying […]
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Puerto Rico Manufacturing Purchasing Managers Index up to 52.4 in January
March 2, 2021
The Puerto Rico Purchasing Managers Index (PRM-PMI) for the manufacturing sector increased to 52.4 in January, breaking the threshold of 50, suggesting growth when compared to the previous month. The employment, own Inventories and suppliers’ deliveries sub-indexes increased with respect to the previous month, while the employment, suppliers deliveries and own inventories sub-indexes beat the […]
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Discover Puerto Rico hosts virtual roundtables to boost future groups business
March 2, 2021
Looking to lead a successful recovery in the meetings, incentive, conventions and event (MICE) segment, Discover Puerto Rico has developed a series of meeting planner roundtables to educate partners about client trends and perspectives related to booking live events in the future. The roundtables also provide insight on the state of the meetings industry, direct […]
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Liberty Puerto Rico reports $624M in revenue for ’20; $296M in 4Q20
March 1, 2021
Saying that the “integration of AT&T’s Puerto Rico and USVI operations [are] progressing well,” Liberty Latin America announced that its subsidiary, Liberty Puerto Rico, generated $624 million in revenue during the 12 months ended Dec. 30, 2020, representing a 9.9% increase year-over-year. In its latest financial report, Liberty Puerto Rico was also attributed $296 million […]
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Colmena66 wins $10K from SBA’s Lab-to-Market competition
March 1, 2021
Colmena66, a San Juan-based based nonprofit that connects island entrepreneurs and small business owners to local and regional resource partners, was awarded $10,000 through the Lab-to-Market (L2M) Inclusive Innovation Ecosystem Prize Competition, sponsored jointly by the US Small Business Administration and the National Science and Technology Council. The nonprofit received the “Super Connector” award for its submission highlighting […]
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Town of Canóvanas unveils 3 new scenic routes to spur tourism
March 1, 2021
The executive director of the Puerto Rico Tourism Company, Carlos Mercado, and the Mayor of Canóvanas, Lornna Soto, unveiled a plan to establish three new scenic routes — still being developed for an official opening this year — as a way to promote tourism and the economic development in the northern town. Through the recently […]
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AAFAF to participate in J.P. Morgan investment conference
March 1, 2021
Puerto Rico Fiscal Agency and Financial Advisory Authority Executive Director Omar J. Marrero will appear before corporate leaders, sponsors, institutional investors and financiers at the J.P. Morgan 2021 Global High Yield & Leveraged Finance Conference to “provide a favorable perspective on doing business in Puerto Rico and present the significant accomplishments of the government of […]
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Housing Dept. announces availability of $800M for large-scale development projects
February 26, 2021
Puerto Rico Housing Department Secretary William Rodríguez announced that the Community Development Block Grant (CDBG) Program has allocated $800 million to the Investment Portfolio for Growth (IPG) initiative “to alleviate the exacerbated economic effects of the hurricanes through large-scale development projects.” As a preliminary process for the IPG Program, interested entities are asked to submit […]
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T-Mobile Puerto Rico customer base exceeds 1M after fusion with Sprint
February 26, 2021
The culmination of its integration with Sprint, and the sale of AT&T’s wireless operation in Puerto Rico, has boosted T-Mobile’s business, which at the end of 2020 exceeded 1 million in customers for the first time, T-Mobile Puerto Rico General Manager Jorge Martel said. While sharing 2020 results, Martel said T-Mobile saw an 8% growth […]
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La Tigre fashion retailer opening $500K flagship store in Ciudadela
February 26, 2021
Reinventing and looking for new ways to serve a new generation of consumers in Puerto Rico and around the world, La Tigre company had invested more than $500,000 on a new flagship store in Ciudadela in Santurce, and visualizing a prosperous clientele for its new extension of the Casa Alberghini brand. La Tigre’s strategic and […]
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