NSF I-Corps at UPR-Mayagüez ready for 2nd cohort of entrepreneurs
August 26, 2019
The NSF Innovation Corps-Site at the University of Puerto Rico-Mayagüez Campus is looking for scientists and engineers who aspire to develop their projects and business ideas to participate in its second entrepreneurial cohort slated for Sept. 13, 14, 21 and 28. The chief researchers of the initiative announced that the deadline to apply is Aug. […]
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Intercontinental San Juan hotel undergoing multi-million, top-to-bottom renovation
August 23, 2019
The Intercontinental San Juan, one of Isla Verde’s iconic hotel properties, is undergoing a multi-million-dollar renovation — the first in 20 years, this media outlet confirmed. Although the amount of the investment was not disclosed, it is estimated at close to $80 million. Christine May, public relations and marketing consultant for IHG, owners of the […]
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Monarch Alternative Capital, Taconic Capital buy warehouse portfolio in SJ
August 23, 2019
A joint venture formed by Taconic Capital Advisors LP and Monarch Alternative Capital LP has announced the formation of the Puerto Rico Industrial Solutions and Management platform in connection with its acquisition of a 2.2 million square-foot portfolio of industrial and logistics warehouse properties in the San Juan metropolitan area. This portfolio of warehouses is […]
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Digital transformation requires businesses to keep up with innovation
August 23, 2019
Digital transformation has revolutionized the way of doing business, and for business leaders, the next three years will be the most important in more than 50 years, Iván Fraticelli, general manager of Ricoh Puerto Rico said during a conference in San Juan. The digital transformation and the impact on the customer experience in the new […]
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Discover Puerto Rico on track for ‘record-breaking’ year
August 23, 2019
With revenues of $603 million and an all-time high of arrivals year to date in San Juan, Ponce and Aguadilla airports with 2.59 million passengers; coupled with a full agenda of events in and outside Puerto Rico to showcase the destination, Discover Puerto Rico predicted it will achieve a “record-breaking” year in 2019. “Our aggressive […]
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CBP transforming USVI trade through technology
August 23, 2019
In 2016, U.S. Customs and Border Protection started the process to find a practical way to incorporate the U.S. Virgin Islands into the Automated Commercial Environment (ACE) to expedite imports. Fast forward to Aug. 2019, in an event at the Ron De Lugo Federal Building titled “Paving the way forward: Transforming the V.I. Trade through […]
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AbbVie, Direct Relief join to provide backpacks with medical supplies
August 23, 2019
Employees from AbbVie’s manufacturing sites in Puerto Rico assembled 480 first-aid backpacks equipped with medical supplies which Direct Relief, a humanitarian support entity will distribute in Puerto Rico. The backpacks were specially designed to support rescuers and first aid personnel in emergencies and disasters, the company stated. “As part of our commitment to Puerto Rico, […]
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Ranger American’s SAfeTM LLC subsidiary acquires Sky Processing’s assets
August 23, 2019
SAfeTM LLC, an affiliate of Ranger American Armored Services Inc., announced its acquisition of the Puerto Rico assets operated by Sky Processing. The transaction makes SAfeTM the largest ATM operator in Puerto Rico. The financial terms of the agreement and other details were not disclosed. “This acquisition allows us to offer our current and future […]
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FCC proposes fines against 3 co.’s that interfered with FAA weather radar in P.R.
August 22, 2019
The Federal Communications Commission’s Enforcement Bureau announced proposed fines and issued a formal industry warning related to devices that apparently caused interference to the Federal Aviation Administration’s terminal doppler weather radar station in San Juan. The Enforcement Bureau proposed three separate $25,000 fines against wireless internet service providers Boom Solutions, Integra Wireless, and WinPR. The […]
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American Airlines to increase frequency in San Juan/Dallas route
August 22, 2019
American Airlines has announced the expansion of its route between San Juan and Dallas, Texas as of Dec. 18, 2019, adding a second daily frequency. The increase in capacity has an economic impact of $34 million on the island’s economy, the Puerto Rico Tourism Co. said. The new flight will operate at night on an […]
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P.R’s banking regulator sees ‘no major obstacle’ to Oriental-Scotiabank merger
August 22, 2019
Puerto Rico’s Office of Financial Institutions Commissioner George Joyner said although the deal is pending regulatory approvals, he sees “no major obstacle” for Oriental’s acquisition of Scotiabank de Puerto Rico’s assets to happen. In an interview on the “En Una Hora” program that airs on 11Q 1140 AM, in which News is my Business participates, […]
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Freedom of the Seas to undergo $116M remodel, debuting March ’20 from SJ
August 22, 2019
A bolder and reimagined Freedom of the Seas cruise ship will set sail from San Juan starting March 2020 after undergoing a $116 million renovation, parent company Royal Caribbean announced. The ship’s makeover will include a redesigned pool area — including the “Perfect Storm” duo of waterslides — an array of restaurants and transformed kids […]
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Gov’t unveils list of allowed commercial activities for P.R.’s Opportunity Zones
August 22, 2019
The Opportunity Zones Priority Projects Committee has established a list of qualified commercial activities by geographical area for the development of priority projects, pursuant to Law 60-2019, as the government revealed. Committee Chair and the government’s CFO, Omar J. Marrero, said this ordinary process is “an important step toward facilitating this investment mechanism and reinforcing […]
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USDA investing $9.3M in 9 renewable energy projects
August 22, 2019
The U.S. Department of Agriculture is awarding additional $9.3 million through the Rural Energy for America Program (REAP) for renewable energy and energy efficiency projects to reduce energy cost for farmers, agricultural producers and rural-based business and institutions. USDA Rural Development State Director for Puerto Rico Josué E. Rivera said the new round of funding […]
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Op-Ed: Island residents face decades of unaffordable rate hikes and fees
August 22, 2019
The Puerto Rican legislature will soon consider a debt restructuring deal for Puerto Rico’s Electric Power Authority (PREPA) that is unaffordable and risks jeopardizing the island’s economic recovery, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, “Puerto Rico Electric Power Authority debt restructuring: A weak […]
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