Cancellation of San Sebastián Street Fest a blow to OSJ vendors
January 8, 2021
The San Sebastián Street Festival, celebrated every year in January for four days straight in Old San Juan, will not be held in person this year due to the COVID-19 pandemic, eliminating crowds, sales, and limiting the exposure of independent vendors in the historic zone, this media outlet confirmed through several interviews. This week, San […]
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Passenger traffic down 45.2% YoY in Dec. at the LMM Airport
January 8, 2021
Grupo Aeroportuario del Sureste, known as ASUR — and a 60% joint venture partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport — reported a 45.2% drop total passenger traffic at the San Juan hub in December 2020, when compared to the same month in 2019. Traffic at the airport […]
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US Dept. of Labor extends disaster unemployment assistance for Isaías victims
January 8, 2021
The US Department of Labor announced it has extended the deadline to apply for Disaster Unemployment Assistance (DUA) claims related to Tropical Storm Isaías to Jan. 29, 2021, based on Puerto Rico’s continued recovery from tropical storm impacts. Individuals who were employed or self-employed who live in Aguada, Hormigueros, Mayagüez or Rincón and became unemployed […]
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Puerto Rico Treasury reports $656.1M in net income in November ’20
January 7, 2021
The Puerto Rico Treasury Department reported net income to the General Fund during the month of November — the most recent figures available — totaled $656.1 million. Agency Secretary Francisco Parés confirmed that the figure represented $127.8 million, or 24%, over the monthly projection based on the budgetary method. Meanwhile, collections accrued during the first […]
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Challenge Fitness opens new Santurce location
January 7, 2021
Challenge Fitness announced the opening of its new boutique gym in the Santurce area after an investment of more than $80,000, incorporating strict health measures for the protection of its customers from the COVID-19 pandemic. The new gym has more than 2,000 square feet of space and is segregated into two areas — one dedicated […]
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US Customs reports 175% spike in counterfeit goods seizures
January 6, 2021
US Customs and Border Protection’s (CBP) San Juan Field Office — which is responsible for multiple ports of entry in Puerto Rico and the US Virgin Islands — experienced a 175% growth in the number of counterfeit seizures in Fiscal 2021 to date in contrast to the same period in Fiscal 2020. In Fiscal 2020, […]
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Op-Ed: Credit support for PREPA ‒ a sensible tool or another wasteful gimmick?
January 6, 2021
The week before Christmas, the Financial Oversight and Management Board for Puerto Rico (FOMB) quietly announced a plan for the Commonwealth’s government to loan almost $1 billion to the Puerto Rico Electric Power Authority (PREPA) to facilitate the privatization of the island’s transmission and distribution system. This plan was presented in a poorly documented filing […]
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Toys for Tots gifts 10K toys to children in Puerto Rico
January 6, 2021
Entrepreneur Brock Pierce, along with the US Marine Corps, handed out 5,000 toys to children from different parts of the town of Bayamón, as part of an annual effort by Toys for Tots. The event took place on the eve of Three Kings Day, to benefit underprivileged children in Puerto Rico and across the US […]
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Discover Puerto Rico gets $15.8M in CARES Act funds to ‘revive tourism’
January 5, 2021
Destination marketing organization Discover Puerto Rico has received $15.8 million in funding through the Coronavirus Aid, Relief, and Economic Security (CARES) Act to promote the island as a safe place to visit once the COVID-19 pandemic recedes. Discover Puerto Rico CEO Brad Dean told this media outlet that the funding — which has been granted […]
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Puerto Rico Senate looking to roll back Tourism Co. consolidation into DDEC
January 5, 2021
The Puerto Rico Senate is looking to halt the consolidation of the Puerto Rico Tourism Co. into the Department of Economic Development and Commerce (DDEC, in Spanish) umbrella that is currently underway, stating the need for a “dedicated and autonomous entity to serve the interests of the local tourism sector and the world.” Senate Bill […]
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Practical Techie: Obsolete tech we must say goodbye to forever in ’21
January 5, 2021
Cybernauts want to forget 2020 as fast as possible, yet as we enter the second decade of the 21st Century, it’s also time to say goodbye to technologies that will not be around for long. Soon to be gone with the thankless 2020 are devices and tech that was necessary for our work routine, […]
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Op-Ed: Which IRA is best for me?
January 5, 2021
To maximize returns on your investment, you will need to choose diversified instruments at terms of five years or more. One of the instruments most commonly used by local investors is Oriental’s Diversified Growth IRA (DGI)1, which also offers the tax relief everyone is looking for when the time comes to file taxes, as every […]
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Puerto Rico’s economy faces uncertainty, further decline in ’21
January 4, 2021
After a significant decline stemming from measures adopted to control the COVID-19 pandemic, Puerto Rico’s economy faces further uncertainty as it is again expected to contract in 2021, although less dramatically, according to a projected scenario from economic consulting firm Estudios Técnicos. The firm’s base scenario reflects an economic contraction of 0.9% in 2021, a […]
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Puerto Rican restaurant El Cilantrillo will open 3rd location in ’21 despite pandemic
January 4, 2021
Orlando, FL — Challenges like the COVID-19 pandemic has not prevented the expansion plans of El Cilantrillo restaurant, with a third location expected to open early in February in Orlando, this media outlet confirmed. Hiram Turull, owner and founder of El Cilantrillo Restaurant Inc., with two locations in Kissimmee and Orlando, announced his plans to […]
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Puerto Rico opts-in to Mixed Earner Unemployment Compensation program
January 4, 2021
Gov. Pedro Pierluisi and Labor Secretary Carlos Rivera-Santiago announced the Puerto Rico is opting-in to the new Mixed Earner Unemployment Compensation program that will represent an economic impact of some $65 million to the island and could benefit some 60,000 individuals. Th requirements and instructions on how to participate in the program — which is […]
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