The Puerto Rico Aqueduct and Sewer Authority announced it has received approval to receive up to $163 million for 28 capital improvement projects through a loan agreement with the Department of Natural and Environmental Resources and the Infrastructure Financing Authority’s State Revolving Fund (SRF). The projects include improvements for sanitary infrastructure in the municipalities of […]
Gov. Wanda Vázquez has signed Senate Bill 1649 to amend the Puerto Rico Government Accounting Act to allow the use of electronic documents in the billing, processing and payment of a government obligation. This measure is consistent with the approval and implementation of the laws on the evolution of new information technologies and telecommunications, which […]
The U.S. government is increasingly becoming aware of the challenges of China’s entrance in the Caribbean with their Belts and Roads Initiative. Some of China’s infrastructure logistics development projects will be designed with a military/civilian dual-use in strategic areas. Also, China’s economic proposals aim to gain political soft power, in an area that is considered the […]
The National Science Foundation’s Innovation-Corps Site based at the University of Puerto Rico’s Mayagüez campus is looking for researchers, engineers, scientists, and general entrepreneurs who have research-based technology, product ideas, or technology applications and want to evaluate the potential to go commercial. The goal is to help them lock down entrepreneurial skills through training in the […]
The new Hard Rock Café under construction in Ponce is slated to open in November, inside the Aloft Hotel — which will debut as the second to fly the flag owned by Marriott in Puerto Rico and entailed a $15 million investment. The 125,000 square-foot property will feature 152 guestrooms, 15,000 square feet of convention […]
Puerto Rico’s Economic Activity Index for May and June 2020, which reached levels of 109.7 and 108.8, respectively, reflect month-on-month reductions of 3.5% and 0.8% and decreases of 10.2% and 10.8% when compared with the same months of the previous year. The separate monthly reports published by the Puerto Rico Economic Development Bank are the […]
The Puerto Rico Electric Power Authority confirmed it will interrupt the power service to test the emergency generators in the Vieques and Culebra municipal islands, this Sunday, Aug. 30. The service interruption will be from 8 a.m. to 9 a.m. and from 3 p.m. to 4 p.m. in Vieques, and from 7:30 a.m. to 8 […]
Puerto Rico-based business intelligence firm Abexus Analytics has developed and made freely available the Abexus Mobility Insights tool, which tracks cellphone data using Google Mobility’s database and could help the government establish public policy related to the COVID-19 pandemic. The tool follows how island residents move across all 78 towns and has already produced multiple […]
Institutional fraud takes a $2.4 billion bite out of Puerto Rico’s economy, representing at least 3.5% of gross revenue, according to the “Portrait of Fraud in Puerto Rico 2020” study revealed by the Puerto Rico Society of CPAs. “The term occupational fraud can be defined as those acts committed by employees with the objective of […]
Puerto Rico’s agricultural industry is preparing to receive more than $2.6 million from the Federal Emergency Management Agency and the Central Office of Recovery, Reconstruction and Resilience of Puerto Rico, or COR3, to continue recovery after Hurricane María. The sector lost 40% of its infrastructure following the 2017 storm. Among the obligations is $1.4 million to repair the […]
The University of Puerto Rico will distribute a total of $40.5 million in technological equipment and financial incentives to professors, students and administrative staff as part of its plan to improve the online educational experience and support the university community during the COVID-19 pandemic. UPR President Jorge Haddock said the aid will be granted through […]
A $12-million expansion plan is underway for Ron del Barrilito, to increase production and exports, said Eduardo Bacardí, sales and marketing director for producer Edmundo B. Fernández Inc. The investment will help increase production volume by 400%, he said. “This expansion phase takes us to a higher level by increasing our production, storage, and aging […]
The events of 2020 — the January earthquakes and the onset of the COVID-19 pandemic — has spurred nonprofit organization ConPRmetidos to launch a grant program to help 500 Puerto Rican families learn how to transform their personal finances through the “Claridad Financiera” course. The nonprofit is known for developing social impact projects in sectors […]
At a cost of $517,043 in federal and agency-generated funds, the Puerto Rico Ports Authority announced the acquisition of a new fleet of 17 vehicles for several operational areas, agency Executive director Joel A. Pizá-Batiz announced. Noting that the agency had not made a considerable investment in new vehicles since 2002, Pizá-Batiz said the Ports […]
The Puerto Rico Bankers Association will host its next educational workshop, which will take place Aug. 28, 2020 from 3 p.m. to 4 p.m., via the Zoom platform. It will be free and open to the public. The guest speaker will be Hilda Y. González-Rodríguez, manager of the Credit and Risk Management Unit of Banco […]
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