Popular earns $895.3M in ’15, $137.4M in 4Q15
January 27, 2016
Popular Inc. reported net income of $137.4 million and adjusted net income of $98.3 million for the quarter ended Dec. 31, 2015, compared to net income of $85.6 million and an adjusted net income of $93.4 million for the quarter ended Sept. 30, 2015.
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Impact of 900 co.’s under Laws 20/22 pegged at $1.4b
January 27, 2016
In the two years since the government passed Laws 20 and 22, some 900 companies have gotten decrees and generated more than $1.4 million in economic activity in Puerto Rico through new operations and exports, a study revealed Tuesday by the Economic Development and Commerce Department showed.
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Op-Ed: We don’t have to reinvent the wheel
January 26, 2016
Across-the-board spending cuts and tax increases, until recently, were the solution to deal with Puerto Rico’s debt and deficit. Today, the question on everyone's mind should be: how can we improve living conditions and promote spending to help jumpstart our stale economy?
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Puerto Rico’s economic activity drops 0.5% YOY in Nov.
December 30, 2015
Drops in electric power generation, gasoline consumption and cement sales kept Puerto Rico’s economic activity in negative territory in November, according to the Government Development Bank’s Economic Activity Index (GDB-EAI) released Tuesday.
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Construction remains at lowest point in 10 years
November 30, 2015
Once a vigorous part of the economy, Puerto Rico's construction sector remains mired at its lowest point in more than a decade with little hope of improvement in the next year, when activity is expected to stay at its present level of under $2 billion, said a spokesman for the industry.
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SBA: ‘Shop small for all on Small Business Saturday’
November 27, 2015
Small business owners across the U.S. mainland and Puerto Rico are preparing for the most important shopping day of the year, “Small Business Saturday,” an event sponsored by the U.S. Small Business Administration.
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Medical tourism industry making inroads in Puerto Rico
November 20, 2015
A year after its establishment, the Medical Tourism Corp. has spearheaded Puerto Rico’s efforts toward the fulfillment of specific projects that are generating an immediate economic impact for the sector, the entity’s Executive Director Francisco G. Bonet said Thursday.
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Nonprofits collaborate to study P.R.’s visitor’s economy
November 13, 2015
The Foundation for Puerto Rico and the Universidad del Este’s José A. (Tony) Santana International School of Hospitality signed an agreement Thursday to conduct a study that will help promote and develop Puerto Rico’s so-called visitor’s economy.
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Fiscal crisis hasn’t dented P.R.’s tourism industry, so far
October 20, 2015
Puerto Rico is $73 billion in the hole, a sustained drought recently led to severe water shortages — at one point forcing some San Juan residents to limit their showers to two a week — and potential rival Cuba is about to open up the floodgates to U.S. visitors.
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Study: P.R. nabs $198M in cruise ship business in ’14-’15
October 8, 2015
Puerto Rico benefitted from $198 million in total cruise tourism expenditures during the 2014/2015 cruise year, which in turn, generated 5,209 jobs and $75 million in wages, according to a study released Wednesday by Business Research & Economic Advisors.
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Nonprofits launch ‘Goal 1B’ to spur local biz networking
October 1, 2015
The National Minority Supplier Development Council (NMSDC) and the Puerto Rico Minority Supplier Development Council (PRMSDC) announced Wednesday the upcoming start of “Goal 1B,” a strategy designed to help Puerto Rican industries expand their market.
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SBA announces funding package to spur P.R. economy
August 18, 2015
U.S. Small Business Administration head María Contreras-Sweet was in Puerto Rico Monday to announced a series of initiatives to spur the island’s economy and create jobs.
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Nonprofit to focus on developing P.R. visitor’s economy
August 14, 2015
The Foundation for Puerto Rico announced Thursday it is focusing its efforts on developing new social and economic strategies that will transform Puerto Rico into a global destination, based on the premise that tourism is key to improve the economy.
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Puerto Rico’s economic activity drops 0.4% YOY in June
July 31, 2015
Puerto Rico’s economic activity registered a year-over-year decrease of 0.4 percent, and a month-over-month reduction of 0.3 percent, according to the latest index released by the Government Development Bank Thursday.
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Latino leaders urge federal gov’t to support Puerto Rico
July 29, 2015
The National Hispanic Leadership Agenda, a coalition of 39 of the U.S. mainland’s largest Latino advocacy organizations, held a press conference Tuesday with Congressional, Puerto Rican, and labor leaders today calling on President Obama and Congress to take action "to save Puerto Rico from economic disaster."
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