Liberty Puerto Rico reported $105 million in revenue, representing a 3% growth during the first quarter of 2020 compared to the same period in 2019. The company added some 9,000 customers to its broadband division in the recent three-month term. Liberty Latin America CEO Balan Nair said during an earnings call with analysts that the […]
The U.S. Small Business Administration confirmed it continues to approve loans for Puerto Rico and U.S. Virgin Islands small businesses during the second round of SBA’s Paycheck Protection Program, with more than $120 billion still available. “We encourage small business owners in Puerto Rico and the USVI to take advantage of this opportunity to keep […]
Grupo Guayacán and Popular have partnered once again to provide a total of $90,000 in economic relief grants for small businesses that are currently struggling to maintain operations amid the COVID-19 pandemic. The incentive “will provide much-needed aid to companies that are working hard and reinventing themselves to survive the challenges of this difficult time,” […]
A survey conducted by the Puerto Rico Manufacturing Extension (PRiMEX, in Spanish) of 120 120 food and agro-industrial manufacturing companies revealed a need for the island’s small- and mid-sized businesses to better prepare for the upcoming hurricane season. Furthermore, the study that was carried out from the beginning of this year through April 24, also […]
The U.S. Department of Transportation’s Federal Aviation Administration has issued an emergency order revoking the repair station certificate of Ecolift Corporation in San Juan. As a result, Ecolift has surrendered its certificate, the FAA said. The agency alleged that Ecolift repeatedly performed aircraft maintenance work that it was not authorized to perform, including: An altimeter […]
The Puerto Rico Community Foundation announced the first round of donations from the Red Nose Day for Puerto Rico Fund established in 2019 by Comic Relief US, which committed $1 million to the island. Of that amount, an initial $450,000 was awarded to five organizations in Puerto Rico that have a commitment to reduce poverty […]
Insurance provider Triple-S reported $896.4 million in total operating revenues for the first quarter of 2020, a 13.8% increase from the prior year, company CEO Bobby García said. The company recorded adjusted net income of $17.7 million or $0.75 per diluted share, in line with the same quarter last year, he said. “Overall, we’re pleased […]
Given the urgency of implementing effective contact tracing to counteract COVID-19 on the island, the Puerto Rico Science, Technology and Research Trust and its Puerto Rico Public Health Trust program announced an alliance with several municipalities to create the Municipal Contact Tracing and Assistance System, which will allow identifying areas of contagion and the behavior […]
The United Automobile Importers Group confirmed that a total of 280 units new cars were sold on the island during the month of April, sharply contrasting the 7,352 vehicles sold during the same month a year ago. That represents a decrease of 96.2% for the month, and a reduction of 43.2% so far in 2020, […]
The Puerto Rico Manufacturers Association has unveiled through its website a template of the Contingency Plan that all employers must prepare to comply with Executive Order OE-2020-028 and with the protocols established for the reopening of their businesses. The free document is a template that allows the company to adjust the information according to its […]
CC1 Companies, which manufactures, bottles and distributes a variety of beverages, is turning its focus to produce a new line of hand sanitizers as well as a custom stand for the product. CD Hand Sanitizer comes in multiple packages — a three-liter box and a 750ml bottle — and includes a touch-free dispenser that integrates […]
Editor’s UPDATE: Las Brisas Property Management is the new manager of Paseo Caribe, which has been sold to a new company called Paseo Caribe Commercial, LLC. Guaynabo-based Las Brisas Property Management quietly closed on the purchase of the mixed-use oceanfront property Paseo Caribe, for an undisclosed amount, from former operator Caribbean Property Group LLC, several […]
A group of Puerto Rico tourism industry representatives issued a statement expressing their interest in a gradual reopening of the sector that generates some 80,000 jobs and generates some $5.5 billion in annual revenue. “As Puerto Rican executives, we recognize the importance of tourism in the island’s economy, and we want to return to work […]
A little more than five years after making its debut in Puerto Rico, luxury retailer Nordstrom will close its only store at The Mall of San Juan, as it downsizes in response to the impact the COVID-19 has had on its operation. “Our goal is to best position ourselves to serve customers in each market […]
The Federal Emergency Management Agency has obligated nearly $89 million to date to repair and rebuild hospitals and health centers across the island. More than half of the funds are for permanent work for 258 facilities that will benefit the communities and residents they serve, the agency confirmed. The federal investment in the local healthcare […]
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