Gov. Wanda Vázquez announced the extension of the islandwide curfew to May 25, while allowing a limited reopening of certain industries, businesses and services under specific conditions. In a pre-recorded message, Vázquez said the gradual reactivation of the island’s economy — which has been under shelter-in-place and business lock-down orders since Mar. 16 to fight […]
Banco Popular de Puerto Rico has received a total of 127,000 moratorium applications, split between auto, personal and mortgage loans, Popular Inc. CEO Ignacio Álvarez confirmed. Of that number, 100,000 are in its own portfolio, and the remaining 27,000 are mortgage loans owned by third-parties such as Fannie Mae, Freddie Mac and the Federal Housing […]
First BanCorp., the bank holding company for FirstBank Puerto Rico (reported net income of $2.3 million, or $0.01 per diluted share, for the first quarter of 2020, compared to $36.4 million, or $0.16 per diluted share, for the fourth quarter of 2019, and $43.3 million, or $0.20 per diluted share, for the first quarter of […]
The Federal Emergency Management Agency has awarded a $6.8 million grant to the Luis A. Ferré Performing Arts Center in San Juan, an iconic cultural center with a 39-year history of history of hosting more than 15,000 events. The grant was assigned in April 24, FEMA said. After Hurricane María, the steps leading up to […]
Recognizing the need for new standards of cleaning, disinfection, hygiene, and the competitive advantage that the implementation of additional measures provide for the island as a tourist destination, the Puerto Rico Tourism Company announced the creation of a program to grant a gold-star validation seal to tourism-related businesses. This certification (or badge) will be granted […]
In the midst of the economic crisis caused by COVID-19, the Hampton Inn & Suites San Juan’s management held a food drive for its team members on April 24 to prevent them from having to leave their homes in search of food for their families, the company confirmed. Like many other companies, due to the […]
Cansortium Inc. announced completion of the sale of its non-core operations in Puerto Rico to PRICH Biotech Corp. for $670,000 in cash. PRICH acquired the operational assets, including applicable cannabis licenses, and assumed certain liabilities. In addition, PRICH will pay Cansortium a royalty on future sales of Fluent-branded products, effective on the closing date. The […]
The U.S. Department of Transportation has granted a waiver to allow foreign air carriers to provide certain expanded cargo and passenger transfer services at Puerto Rico’s international airports over a two-year term, the agency announced. With its decision, Puerto Rico becomes the first U.S. territory in the Caribbean to become a “hub” for foreign air […]
The U.S. Department of Commerce’s Economic Development Administration is awarding a $13 million grant to the University of Puerto Rico in Ponce to establish a disaster resilient research and business facility to support high-growth businesses focused on the health and medical tourism industries. The EDA grant, to be located in a Tax Cuts and Jobs […]
OFG Bancorp, parent of Oriental bank, reported $131.3 million in revenue for the first quarter ended Mar. 31, 2020, with a strong increase in due to its acquisition of the Puerto Rico and U.S. Virgin Islands operations of The Bank of Nova Scotia (Scotiabank), bank officials said. Upon disclosing its latest results, the financial institution […]
Puerto Rico’s telecommunications industry is ready to operate at its “maximum capacity,” taking the necessary measures to preserve the health and safety of its customers and employees, Felipe Hernández, president of the Puerto Rican Telecommunications Alliance said. The executive stressed that the sector is “not only important for consumers, but is also a fundamental pillar […]
The Puerto Rico Science, Technology and Research Trust Grant Program has selected six projects from local institutions with innovative projects to combat the COVID-19 virus on the island, it announced. The program, which was designed to select five winners with a total budget of $500,000, was expanded to include six winners, who split $600,000. The […]
Looking to continue promoting the stay-at-home call to avoid the spread of COVID-19 on the island, Walmart Puerto Rico organized a virtual wellness fair with a variety of educational and entertainment content for all members of the Puerto Rican families. “¡Vive Mejor #EnCasa! consists of a series of videos through which expert resources on different […]
Liberty Puerto Rico continues to provide its customers with open access to more entertainment choices in English and Spanish during the lockdown. Through May 31, Liberty’s television subscribers will have access to select channels from Atresmedia and TV Azteca, regardless of the bundles to which they are subscribed. “Throughout the quarantine, we have tried to […]
Individuals, organizations or entities that wish to conduct business with the Community Development Block Grant Disaster Recovery Program (CDBG-DR) may register their information and receive notifications about potential business opportunities that are open to the public through a recently launched website. “As part of our efforts to manage recovery funds transparently, we unveil our Procurement […]
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