P.R. gov’t pursues Japanese investment on the island
December 12, 2019
Department of Economic Development and Commerce Secretary Manuel A. Laboy, traveled to New York this week, where he made a presentation to the Japanese Foreign Trade Organization and met with the Consul General of Japan in New York, Kanji Yamanouchi, looking to attract investment in Puerto Rico. “For two days we had the opportunity to […]
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MCS volunteers doubled their participation in community activities
December 12, 2019
Putting on more than 20,600 hours of volunteer work, MCS employees doubled their participation from last year in community activities that range from educational and recreational to cleaning, painting and decorating, the company said. This year, MCS Contigo employees supported 61 institutions in 60 municipalities. Some of the entities benefited by MCS Contigo’s volunteer work […]
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Claro Puerto Rico notifies FCC of plans to replace copper infrastructure
December 11, 2019
Claro Puerto Rico has filed a certification at the Federal Communications Commission of its plans to retire its copper infrastructure at dozens of locations islandwide, starting in March 2020, this media outlet learned. Claro intends to retire copper distribution and copper loop facilities where it has deployed or plans to deploy fiber-to-the-premise as a replacement, […]
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P.R. gov’t launches defined contribution plan for public employees
December 11, 2019
Puerto Rico government officials announced the start of the first phase of implementation and management of the new defined contribution plan for public employees, including teachers and judiciary system workers. During a roundtable with members of the media, Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF, for its initials in Spanish) Executive Director Omar […]
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FEMA, COR3 obligate $59M for recovery work in P.R. in last 2 weeks
December 11, 2019
The Federal Emergency Management Agency and the Central Office for Recovery, Reconstruction and Resilience, or COR3, have obligated nearly $59 million in additional funds for 60 projects related to the recovery and reconstruction of Puerto Rico. These funds were obligated between Nov. 25 and Dec. 5, the agencies confirmed. “FEMA and COR3 continue to work […]
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Shareholder says Popular Inc. is ‘undervalued,’ calls for $1B stock repurchase
December 11, 2019
Raging Capital Management, LLC, a long-term shareholder of Popular Inc. (BPOP) said in a letter delivered to the institution’s board of director that the bank is “significantly undervalued” ad urges adopting a $1 billion stock repurchase plan. In the letter signed by William C. Martin, chairman and chief investment officer of Raging Capital Management, LLC, […]
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Op-Ed: Evaluating P.R.’s energy transformation is an opportunity to define, promote public interest
December 11, 2019
Puerto Rico is overhauling its electrical power system: evaluating its integrated resource plan (IRP), approving wheeling regulations, acquiring a concessionaire for transmission and distribution, and setting up private management of power generation plants, among other measures that will affect the island’s electrical system for years to come. Unfortunately, a scattershot approach is being taken to […]
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USDA assigns $453K to 4 P.R. agri-businesses for renewable energy systems
December 11, 2019
Four businesses in Puerto Rico will receive a combined $452,820 from the U.S. Department of Agriculture’s Rural Energy for America Program to develop renewable energy systems. In total, the USDA will invest $165.4 million to help farmers, ag producers and rural-based businesses lower energy cost. The agency is providing 621 awards to applicants in the […]
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Bella Group opens new $5M Flagship Ford dealership in Carolina
December 11, 2019
Puerto Rican vehicle distribution and sales company, Bella Group, recently inaugurated the new Flagship Ford dealership in Carolina, a project that entailed a $5 million investment and more than a year to complete. The 33,939 square-foot facilities includes sale, parts and service areas that sit on a six-acre plot near the Escorial neighborhood. The concessionaire […]
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P.R. Tourism Co. revives arts fair after 11-year hiatus
December 11, 2019
The Puerto Rico Tourism Co. will host the 23rd edition of its arts fair, to be held Dec. 14-15 at the Paseo de la Princesa in Old San Juan. Agency Executive Director Carla Campos said the fair, which has not been held since 2008, will draw more than 200 artisans who will exhibit and have […]
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Puerto Rican co. Assertus Holdings gets federal gov’t certification
December 11, 2019
Assertus Holdings, LLC, provider of health information systems for medical facilities administration, obtained the most recent certification for its MedicusEHR electronic medical record platform, from the Office of the National Technology Coordinator in its latest edition. This certification was obtained through the ONC-Authorized certification body. To obtain this authentication, MedicusEHR was subjected to tests that […]
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P.R. among jurisdictions making advances in workplace wellness
December 10, 2019
Aon’s “2020 Global Medical Trend Rates” report identified Latin America and the Caribbean as the most advanced region in terms of well-being in the corporate environment. Due to the large increases in medical costs in the last 10 years, employers, health care operators and consulting companies such as Aon have realized the importance in adopting disease prevention plans, the […]
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Climate change ranks highest as ‘vital issue of our time,’ Amnesty Int’l says
December 10, 2019
Climate change is one of the most important issues facing the world, according to a major new survey of young people published by Amnesty International today to mark Human Rights Day. With the findings published as governments meet in Spain for the UN Climate Change Conference, the organization warns that world leaders’ failure to address […]
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Crowley donates logistics services to deliver wreaths for P.R. vets
December 10, 2019
Honoring the service of U.S. warfighters, Crowley Maritime Corp. has donated end-to-end logistics services and contributions totaling nearly $50,000 to Wreaths Across America so nearly 13,000 wreaths can be laid in remembrance at the gravesites of U.S. veterans in Jacksonville, Fla., and Puerto Rico. Crowley is transporting more than 6,500 wreaths to be placed on […]
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Op-Ed: Was the Puerto Rico Planning Board right?
December 10, 2019
For about 30 years, observers have questioned the reliability of the macroeconomic statistics that the government of Puerto Rico prepares through its Planning Board. The technical questions about the quality of these statistics have been numerous, diverse, and persistent. On occasion, these questions have played a leading role in creating the conditions for Puerto Rico’s fiscal, […]
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