FCC lays down rules to invest $692M in P.R./USVI broadband, voice networks
February 6, 2020
The Federal Communications Commission’s Wireline Competition Bureau established the procedures for its investment of up to $691.2 million over the next 10 years to support the deployment of “advanced, hardened” broadband and voice networks in Puerto Rico and the U.S. Virgin Islands. This investment will help ensure that those living in Puerto Rico and the […]
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FEMA assigns $14.3M to restore Cuartel de Ballajá in San Juan
February 6, 2020
The Federal Emergency Management Agency recently obligated nearly $14.3 million in federal funds to the Puerto Rico State Historic Preservation Office for permanent work to restore the Cuartel de Ballajá in Old San Juan. The work to be completed includes electrical repairs, removal and replacement of wood windows, stain-glass windows and wood doors, as well […]
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OCIF orders P.R. financial institutions to report quake-assistance efforts
February 6, 2020
The Office of the Commissioner of Financial Institutions (OCIF, in Spanish) released a Circular Letter requiring Puerto Rico’s financial institutions helping customers affected by the recent earthquakes to report on their efforts. In the document, the regulatory body orders mortgage lenders and services specifically to file monthly reports of the steps they are taking to […]
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Study confirms P.R. debt restructuring leading to new unsustainable payments
February 6, 2020
One year after Judge Laura Taylor Swain approved the agreement on the Sales Tax Financing Corp. (COFINA, in Spanish) bonds which, with the consent of a majority of the members of the Puerto Rican legislature, was presented by the executive and the Financial Oversight and Management Board to the bondholders, a study by economist Daniel […]
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Op-Ed: Who will fix this?
February 6, 2020
This week, a federal jury returned a guilty verdict against the former mayor of Gurabo for extorting $125,000 from a government contractor in exchange for paying eight outstanding invoices for services previously rendered. Last week, the Financial Oversight and Management Board for Puerto Rico (FOMB) reminded the government that a recent executive order setting aside […]
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Airbnb: 100K bookings in 5 weekends in P.R. generate $19M for hosts
February 6, 2020
Travel accommodations platform Airbnb confirmed that some 100,000 visitors booked through its platforms for stays in Puerto Rico during five weekends in 2019, generating more than $19 million for local hosts. The weekends of April 19, July 5, 19 and 26 and Dec. 27 received the most tourists and bookings in a space offered on […]
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National Geographic Traveller includes P.R. in ‘The Cool List’ ’20
February 6, 2020
The National Geographic Traveller, a platform dedicated to travel and lifestyle, revealed this year’s 20 must-see destinations in its “The Cool List,” which includes Puerto Rico. “After a record-breaking 2019, being chosen by National Geographic Traveller is an honor, and demonstrates the opportunity that exists to amplify the island’s diverse offerings for visitors,” said Brad […]
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MCS partners with retailers to offer extra benefits to Classicare members
February 6, 2020
Healthcare service provider Medical Card System Inc. has entered into partnerships with food industry and retail providers in Puerto Rico to offer its Classicare members new special supplemental benefits in 2020, the company announced. So far, more than 65,000 MCS Classicare beneficiaries have completed more than 180,000 transactions through partnerships with Amigo, Econo, Ralph’s, Selectos, […]
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Burger joint La Burguesía opening at El Distrito entertainment complex
February 6, 2020
La Burguesía, burger joint that will feature its own butcher shop, fresh-baked bread, milkshakes and Belgian fries, will open at the El Distrito entertainment complex following a $700,000 investment. Entrepreneurs William Burn and Carlos González are launching the 2,300 square-foot eatery that will create 30 jobs and will have a capacity for 82 guests. “La […]
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Call opens for 3rd edition of P.R. IT Innovation Awards
February 5, 2020
The Puerto Rico Information Technology Cluster opened the call for the third edition of the Puerto Rico IT Innovation Awards, which recognize the work of individuals and leading companies in the island’s information technology industry. “As a Board, we decided to continue this effort for the third consecutive year, since it has been very positive […]
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2 weeks left to apply for parallel18’s 8th cohort
February 5, 2020
Following a “trailblazing cohort” where 45% of the teams had female leaders, parallel18 just launched an open call for its Generation 8 edition, the nonprofit announced. The San Juan-based international accelerator program that has worked with more than 160 companies in the last four years is actively looking for innovative startups with a global vision […]
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CPAs to commission 3rd study on occupational fraud in P.R.
February 5, 2020
The Puerto Rico Society of CPAs will be commissioning the third edition of its occupational fraud study, to determine the impact of the problem on the island, trade group President David González said. “Occupational fraud is a global problem that represents a threat to companies today. It is a great phenomenon that affects practically each […]
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UPR, Justice Dept. head initiative to reduce property registry backlog
February 5, 2020
The Financial Oversight and Management Board for Puerto Rico welcomed today a new initiative to reduce the backlog of property deeds and other documents yet to be registered in Puerto Rico. This initiative was launched with the University of Puerto Rico and the Department of Justice. The new program, designed to tackle more than 400,000 […]
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Entertainment complex El Distrito hosting job fair in Miramar
February 5, 2020
Entertainment complex El Distrito, expected to open this quarter in the convention center district in Miramar, will host a job fair through today to fill hundreds of temporary and permanent positions. The job fair will take place from 9 a.m. to 3 p.m. in Room C of the Convention Center in Miramar. Hundreds of employees […]
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P.R. Chamber of Commerce director chosen for ‘Committee of 100’
February 5, 2020
The U.S. Chamber of Commerce recently selected Miguel Vargas, executive director of the Puerto Rico Chamber of Commerce, to take part in its Chamber of Commerce ‘Committee of 100.’ He is one of five private-sector leaders recently inducted to advise the U.S. Chamber’s board of directors, enhance lobbying and coalition work, recommend programming, and strengthen […]
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