Given the emergency that Puerto Rico is experiencing as a result of the ongoing earthquakes, the Puerto Rico Restaurants Association has asked for an additional 60 days of the elimination of the Sales and Use Tax on prepared foods. Marisol Vega-Cuoto, president of the trade group known as ASORE in Spanish, said “many citizens, volunteers […]
The Wells Fargo Foundation announced a $100,000 donation to the American Red Cross for ongoing relief efforts across Puerto Rico in the aftermath of a series of earthquakes. The American Red Cross is providing shelter, food, health and mental health services and other urgent basic needs to local communities as they work to recover from […]
Sector Sixty6 entertainment center in The Outlet Mall 66 will inaugurate the first modern horse racing betting lounge under the name Lucky Derby, mall officials announced. The off-track betting parlor that also has a bar will open its door the first week of February. “We’re offering a different kind of entertainment option inside Sector Sixty6 […]
Auto rental company Enterprise Rent-A-Car, announced the opening of a new location in Bayamón, with another one in the works for Guaynabo later this year. The new 2,000 square-foot office is part of an aggressive local expansion plan for Enterprise, which has 21 offices throughout the island and employs more than 240 people, executives said. […]
Less than four years after making its local debut with flights between San Juan and Orlando, low-cost carrier Allegiant Airlines will be pulling out of the market, ending service in May, this media outlet confirmed. “Allegiant’s business model is based on providing low-cost, affordable service to leisure travelers when they need it, which means our […]
OFG Bancorp reported results for the fourth quarter and full-year 2019, reflecting the previously announced acquisition of Scotiabank’s Puerto Rico and U.S. Virgin Islands operations. OFG reported a net loss to shareholders of $2.3 million, or ($0.04) per share, which included $21.5 million in acquisition related merger and restructuring charges and $6.6 million in additional […]
The Institute for Energy Economics and Financial Analysis (IEEFA) sent a letter to Gov. Wanda Vázquez, urging her to reconsider plans for converting Units 5 and 6 of the San Juan Power Plant from diesel to liquid natural gas (LNG)-based generation. Signed by IEEFA’s Director of Finance Tom Sanzillo, the letter was accompanied by documents […]
The Secretary of the Department of Economic Development and Commerce, Manuel A. Laboy, unveiled the Access to Public Information tool, which complies with the disclosure obligations established in several laws. The digital tool responds to conditions established by the Puerto Rico Incentives Code, the Transparency Law and Expedited Procedure for Access to Public Information and […]
During the emergency caused by Hurricane María in Puerto Rico in 2017, Chilean startup DataScope offered the municipality of Mayagüez its digital platform that uses cell phones to collect data from the population in need of help. DataScope is now making it available to municipalities affected by the earthquake in southwest Puerto Rico and to […]
Puerto Rico BloggerCon, the annual convention for digital media and influencers slated for Feb. 8, this year will celebrate “HyperSocial,” an educational event for communicators, digital content creators and entrepreneurs about emerging changes in digital platforms. The activity will take place at the Engine-4 Coworking Space in Bayamón. “We call on communications professionals and digital […]
Popular Inc. reported net income of $166.8 million for the quarter ended Dec. 31, 2019, compared to net income of $165.3 million for the quarter ended Sept. 30, 2019. In the report, Banco Popular de Puerto Rico’s parent company, confirmed it generated net income of $671.1 million for the year 2019, compared to net income […]
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $167.4 million, or $0.76 per diluted share for the year ended Dec. 31, 2019, vs $201.6 million, or $0.92 per diluted share for the year ended Dec. 31, 2018. The drop was attributed a one-time $63 million benefit last year, which […]
The World Travel & Tourism Council (WTTC) announced its decision to move its WTTC Global Summit, slated to take place April 21-23, from San Juan to Cancún, Mexico. The local government, headed by the Destination Marketing Organization, Discover Puerto Rico, had reportedly set aside some $6 million to host the event, which will be reallocated […]
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, have obligated more than $50.5 million in additional funds for 63 projects related to the recovery and reconstruction of Puerto Rico. These funds were obligated between Jan. 17-23. “FEMA and COR3 continue to work together to develop strategies that […]
By Julia A. FernándezSpecial to News is my Business Businesses had little interest in adopting Voice over Internet Protocol (VoIP) when it was introduced in the mid-1990s. This is because mobile phones were entering the market, while the internet which enabled VoIP was slow and unreliable. However, the technology improved significantly over the years and […]
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA