Puerto Rico tourism execs lobby for sector’s gradual reopening
May 8, 2020
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 […]
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Luxury retailer Nordstrom closes San Juan store amid COVID-19 crisis
May 8, 2020
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 […]
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FEMA earmarks some $89M to rebuild Puerto Rico hospitals
May 8, 2020
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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Treasury opens site for Puerto Rico taxpayers to submit banking info
May 8, 2020
The Puerto Rico Treasury Department will open a website at 4 p.m. today so that taxpayers who filed their 2019 returns without their bank account information can submit it to be next in line to receive their $1,200 federal stimulus checks. Treasury Secretary Francisco Parés said only those individuals should access the website today through […]
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Center for Investigative Journalism gets $100K from Facebook Journalism Project
May 8, 2020
The Facebook Journalism Project announced it is awarding $16 million in funds to support the operations of more than 200 news organizations in the United States and its territories. Among those selected is Puerto Rico’s Center for Investigative Journalism (CPI, in Spanish), which will receive a contribution of $100,000 for its coverage related to the […]
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Popular supports efforts to mitigate impact of COVID-19
May 8, 2020
As part of its social commitment to Puerto Rico and in response to the public health emergency caused by COVID-19, Popular recently donated $1 million to entities whose priorities include the acquisition of medical equipment and care of the homeless, as well as support for small and medium-sized companies and scientific research. Similarly, funds have […]
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Gov’t picks nonprofit to manage University of Puerto Rico scholarship fund
May 8, 2020
The Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF, in Spanish) chose the Puerto Rico Community Foundation to provide management and investment services for a new scholarship fund for University of Puerto Rico students. “After careful analysis of the independent firms that were interested in the project, we have chosen the organization that has […]
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New Fortress Energy short-listed for PREPA temporary power generation bid
May 7, 2020
Liquified Natural Gas provider New Fortress Energy confirmed it has been put on the short-list of proponents participating in the Puerto Rico Electric Power Authority’s temporary emergency generation RFP (Request for Proposals) released in March. During a call with analysts to discuss its most recent quarterly results, New Fortress CEO Wesley R. Edens confirmed the […]
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Global index gives low marks to access to information in Puerto Rico
May 7, 2020
Puerto Rico has been ranked 87th in a roster of 187 countries included in the Centre for Law and Democracy’s Global Index of the Right to Information, according to a report released by local nonprofit, Transparency Network. The RTI Ratings analyzes the transparency and open data laws, enacted in Puerto Rico last year. It points to […]
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EPA announces $300K Brownfields Grant for Toa Alta
May 7, 2020
The U.S. Environmental Protection Agency announced that the town of Toa Alta was selected to receive $300,000 to assess and clean up contaminated properties under the agency’s Brownfields Program. The Municipality of Toa Alta will use the grant to target the 35-acre former Industrial Zone, including four vacant and hurricane-damaged former industrial sites and a […]
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InterAmerican University to dole out $29.5M to students
May 7, 2020
The InterAmerican University of Puerto Rico is distributing $29.6 million to students in financial assistance provided through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the college’s President Manuel J. Fernós announced. The CARES Act assigns emergency financial aid to each eligible college student actively enrolled in a face-to-face program at the time of […]
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Oriental approves $275M+ in Payroll Protection Program loans
May 7, 2020
Puerto Rico-based financial institution Oriental confirmed that as a result of the first and second round of the SBA (7a) Payroll Protection Program, granted more than $275 million in loans, benefiting 3,300 businesses and 58,000 employees of small and mid-sized businesses. “We’re closing this first and second-round process, achieving excellent results, supporting our small and […]
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Passenger traffic at Luis Muñoz Marín Int’l Airport down 94.5% in April
May 7, 2020
Grupo Aeroportuario del Sureste, known as ASUR and whose subsidiary, Aerostar, operates the Luis Muñoz Marín International Airport, confirmed that passenger traffic dropped 94.5% in Puerto Rico in April, reflecting the direct blow from the COVID-19 pandemic. The year-over-year drop is in line with ASUR’s other airports in Mexico and Colombia, which showed a combined […]
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FEMA OKs 552 project obligations worth $95.4M in Puerto Rico
May 6, 2020
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, obligated roughly $95.4 million for 552 projects during April – more than the total number of projects approved between the months of January and September 2019 combined, they confirmed. Municipalities across the island received the bulk of these obligations […]
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Puerto Rico taxis, public carriers get green light to offer delivery service
May 6, 2020
Taxi drivers and public carriers have been given the green light to make light cargo deliveries, and strike agreements with different businesses— including mobile applications — to conduct such activities, Bureau of Transportation and Other Public Services president Luis D. García-Fraga announced. The agency issued notice XIV-2020 to establish the process through which taxi drivers […]
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