Taubman ‘actively looking’ for new tenant for former Saks location at The Mall of SJ
October 30, 2019
In the wake of Saks Fifth Avenue’s exit from The Mall of San Juan, the shopping center’s owner, Taubman Centers, is “actively looking” for either one or several tenants to move into the 100,000 square-foot space, executives said during a conference call with analysts. Robert Taubman, CEO of Taubman Centers Inc., said, “It could be […]
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Saks Fifth Avenue officially pulls out of The Mall of San Juan after 2-year litigation
October 30, 2019
More than two years after shutting down, Saks Fifth Avenue has confirmed it will not reopen the only store it had in Puerto Rico at The Mall of San Juan, putting an end to a court battle with mall operator Plaza Internacional Puerto Rico. The litigation began in October 2017, when Plaza International — the […]
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P.R. Treasury reports revenue increases in August, September
October 30, 2019
Preliminary net revenues to Puerto Rico’s General Fund in August and September totaled $773.6 million and $985.5 million, respectively, Treasury Secretary Francisco Parés-Alicea announced. This reflects a year-over-year revenue increase of $103.3 million in August and $152.5 million in September. “The first quarter ended with revenues that totaled $2.8 billion. Compared to the same period […]
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Total Petroleum spending $30M to remodel 200 gas stations in P.R.
October 30, 2019
Total Petroleum Puerto Rico, Corp. is investing more than $30 million to introduce a new canopy construction technique to enhance safety and reduce construction time at some 200 of its gas stations in Puerto Rico. The remodeling program is scheduled to conclude during the first quarter of 2020 and has accumulated more than 100,000 hours […]
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IEEFA urges P.R. Legislature to ‘secure more viable PREPA debt deal’
October 30, 2019
The Institute for Energy Economics and Financial Analysis (IEEFA) sent a letter to Puerto Rico’s Legislative Assembly, urging representatives to reject the proposed Restructuring Support Agreement for the Puerto Rico Electric Power Authority. In the letter, the firm also suggested the pursuit of more affordable, sustainable and transparent options for financing and managing the Commonwealth’s […]
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Small Inns Assoc. backs increasing DMO’s budget to promote P.R.
October 30, 2019
Puerto Rico’s Association of Small Inn Owners expressed their support to the proposed amendments to Law Number 17 of 2017, that would grant more funding to Destination Marketing Organization Discover Puerto Rico. “In just 16 months, our DMO has proven to be very efficient and productive for Puerto Rico. By strengthening our position and image […]
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COFINA launches new investor relations website to promote transparency
October 30, 2019
The Puerto Rico Sales Tax Financing Corporation (known as COFINA for its initials in Spanish) announced it has launched an investor relations website to increase transparency to investors regarding specific bonds. Information about COFINA’s restructured sales tax bonds Series 2019A and Series 2019B issued in connection with the Third Amended Title III Plan of Adjustment of Puerto Rico […]
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San Juan native picked to work on climate action initiative in China
October 30, 2019
Mikol Hoffman, a San Juan native, was recently accepted to participate in the third iteration of UNLEASH – Innovation Lab for the United Nations’ Sustainable Development Goals in Shenzhen, China, from Nov. 5-14. The event is a platform for top talents from all over the world, who are working on solutions to the UNs’ SDGs. Over 8,000 […]
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Subaru shows its safety technologies, off-road capabilities
October 30, 2019
Automaker Subaru recently held its “Subaru All Mode” event with safety demonstrations and obstacle courses that included maneuvers over dirt, grass, rocks, logs, as well as on-road drives. The event was held at “La Loma del Vecino,” a new chichorro-style business that recently opened in Guaynabo. “Subaru is a brand that historically has emphasized the […]
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Casino Metro marks 10th anniversary with $1M software upgrade, full agenda
October 29, 2019
The Casino Metro, which at 23,000 square feet is Puerto Rico’s largest such venue, is marking its 10th anniversary on Nov. 17 at the Sheraton Puerto Rico Hotel at the Miramar convention district. Ismael Vega, the facility’s general manager, said to stay on top of the latest trends the casino recently invested $1 million in […]
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$5M Arena Medalla venue to open at El Distrito complex in ’20
October 29, 2019
The $5 million Arena Medalla venue, which will celebrate the triumphs of Puerot Rico’s and give sports fans a place to watch events, will open its doors during the first quarter of 2020 at El Distrito entertainment center in San Juan. Arena Medalla is already in construction and will generate about 75 direct jobs once […]
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Experts: New education models, green economy key to economic development
October 29, 2019
Focusing education on learning, rather than teaching and students rather than curricula, taking into account skills, content and culture are the key to the successful change of the island’s entrepreneurial landscape, two international entrepreneurship and innovation experts agreed during their participation in the seventh “Echar Pa’lante” conference. Luca Iandoli, associate dean for global and online […]
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FirstBank benefits 100 nonprofits during year-long 70th anniversary celebration
October 29, 2019
FirstBank recently wrapped up the year-long celebration of its 70th anniversary with a volunteer activity during which some 250 employees donated their time to perform cleaning, painting, gardening, restorations and recreational activities in more than 20 nonprofits in Puerto Rico, Florida and the U.S. Virgin Islands. “At FirstBank we’re very committed to the communities we […]
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Lopito Fund donates $10K to CREARTE project
October 29, 2019
As part of its philanthropic mission and seeking to reflect the ideals that represented Efraín “Lopito” López, one of the founders of Lopito, Ileana & Howie, the Lopito Fund recently donated $10,000 to the CREARTE Foundation for the El Arte Grabado project. The goal is to promote the development of artistic sensibility in young adolescents […]
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Sacred Heart Univ. to build $1.9M collaboration center for creative co.’s in Santurce
October 28, 2019
The former Villa Music building on Ponce De León avenue in Santurce will be transformed into a creative and cultural entrepreneurship center through an initiative by Sacred Heart University’s Nuestro Barrio: Distrito Cultural de Santurce program, the president of the institution, Gilberto J. Marxuach-Torrós, announced. The 22,000 square-foot space, a few steps from the university, […]
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