Puerto Rico Information Technology Cluster returns with ‘Call for Papers’
February 15, 2021
Looking to keep the dialogue going on the role of the information technology industry in the Island, the Puerto Rico Information Technology Cluster (PRITC) announced the relaunch of the first “Call for Papers.” This initiative, which had to be postponed last year due to the pandemic, “promotes in a more creative and dynamic way the […]
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Consultiva Wealth Management to offer virtual conference on capital markets
February 15, 2021
The situation caused by COVID-19 has had a great impact on the economy, society and the behavior of capital markets, among other areas. It has shed light on trends that were already developing and that it is important to look closely to learn more about the world economic scene. The arrival of vaccines, a second […]
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Labor Dept. announces $465M federal unemployment benefits payout
February 12, 2021
The Puerto Rico Department of Labor and Human Resources announced the disbursement of a combined $465 million in unemployment benefits, split between $371.3 million in Pandemic Unemployment Assistance (PUA) payments and $94 million in retroactive disbursements. Labor Secretary Carlos J. Rivera-Santiago confirmed that the latter payout covers the retroactive weekly payments of the $300 approved […]
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Mercedita Int’l Airport in Ponce unveils $866K expansion
February 12, 2021
The Mercedita International Airport in Ponce inaugurated an $866,252 expansion to its boarding terminal, ahead of the resumption of commercial passenger flights for that facility and the Rafael Hernández International Airport in Aguadilla on April 1st. The expansion allows the arrival and management of two planes simultaneously, while the investment also covered the remodeling of […]
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Hotel occupancy predicted at 86% for this holiday weekend
February 12, 2021
Puerto Rico hotels this holiday weekend could reach “the highest level” of occupancy, at 86%, since January 2020 after the closing of all commercial sectors amid the seismic events that began in the southern region and the announcement of the global COVID-19 pandemic. The Puerto Rico Tourism Co. report on reservation numbers reflected that Feb. […]
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Puerto Rico Institute of Statistics opens call for paid internship
February 12, 2021
The Puerto Rico Institute of Statistics announced that during the next two weeks — and while the available spaces are filled — it has opened a call for paid internships for graduate students of statistics, mathematics, computer science or in any other area based on statistics. This also includes economics, planning, demography, epidemiology, biostatistics, criminology, […]
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KeyBank closes $35M credit facility for commercial equipment finance
February 12, 2021
KeyBank Specialty Finance Lending closed a $35 million credit facility for Commercial Equipment Finance (CEFI), an independent commercial equipment finance company headquartered in Puerto Rico. “CEFI is a leading equipment finance company that we look forward to helping meet its growth targets over time,” Rian Emmett, managing director and group head of KeyBank Specialty Finance Lending, said. “Based […]
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Sacred Heart University opens pre-college STEM internship program
February 12, 2021
Sacred Heart University will hold a pre-college program aimed at high school students interested in pursuing a career in science, technology, engineering, and mathematics (STEM) with an emphasis in neuroscience. The program is aimed at students in 9th through 11th grade, from both public and private schools, with a minimum grade point average of 3.0. The selected […]
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OBoard reaches ‘agreement in principle’ on debt, drawing concerns
February 11, 2021
The Financial Oversight and Management Board for Puerto Rico announced that it reached an agreement in principle with several creditor groups to lower Puerto Rico’s debt to what it termed “sustainable levels” as a result of a mediation process. In tandem with the announcement, the Oversight Board asked the court to extend the deadline for […]
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Treasury Dept. seeks exclusion from federal Foreign Tax Credit public policy
February 11, 2021
The Puerto Rico Treasury Department has asked its federal counterpart to clarify whether a new regulation under consideration concerning credits granted for taxes paid by corporations doing business abroad would apply to Puerto Rico. In a letter sent to US Treasury Secretary Janet Yellen, the local government asked for the proposed “Guidance Related to the […]
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CDBG-DR assigns $20.8M to San Juan for recovery works in the city
February 11, 2021
The Municipality of San Juan will receive $20.8 million from the Community Development Block Grant (CDBG-DR) City Revitalization Program for the restoration of infrastructure in areas still affected by the 2017 hurricanes. The funding is part of a sub-recipient agreement signed between San Juan Mayor Miguel Romero-Lugo and Puerto Rico Housing Department Secretary William Rodríguez-Rodríguez, […]
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Dept. of Education to invest $6.6M in safety gear to reopen schools
February 11, 2021
Puerto Rico Education Secretary Elba Aponte-Santos confirmed plans to invest $6.6 million in protective gear and materials for the reopening of public schools in a “safe” and “healthy” way. The Financial Oversight and Management Board of Puerto Rico approved the funding and oversaw the investment for a detailed list of materials, cleaning and protection products […]
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MADMi museum hosting Valentine’s Day ‘pop-up’ shop
February 11, 2021
The Miramar Museum of Art and Design (MADMi, as the museum is known), in collaboration with the Modo Consciente collective of designers, will host the “I Love Local Pop Up Shop,” on Feb. 13 in the facility’s Titín Room. “Our mission as an institution is to inspire through art and design, and we also want […]
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SBA approves $171M in 2nd round of PPP loans in Puerto Rico so far
February 10, 2021
The number of loans that the U.S. Small Business Administration has approved so far through its second round of Paycheck Protection Program funding doubled in Puerto Rico to 4,740 during the week of Feb. 1-8, from the 2,595 OK’d the prior week. In its weekly update, SBA officials also confirmed that those applications approved so […]
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New retail development project for Aguadilla breaks ground
February 10, 2021
Scheduled to open sometime next year, new commercial retail development project Plaza Noroeste Commercial Center began early construction this week in the municipality of Aguadilla with an initial investment of more than $5 million. The final figure is expected to be closer to $40 million once the project is completed, this media outlet confirmed. Construction […]
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