SBA loans up 66% in Puerto Rico, USVI in 1Q15
February 12, 2015
The U.S. Small Business Administration approved 165 loans for $26.9 million in Puerto Rico and the U.S. Virgin Islands during the first three months of fiscal year 2015, an 11 percent and 66 percent increase, respectively, over first-quarter approvals in 2014.
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Census: Puerto Rico loses 177K residents in 4 years
January 29, 2015
Puerto Rico has lost 177,392 residents either to migration or death in the last four years, putting pressure on the economy, as well as specific sectors, — such as retail — that will need to readjust their business models to provide for future consumer behavior.
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PR, DR governments sign multiple bilateral agreements
January 14, 2015
The governments of Puerto Rico and the Dominican Republic signed Tuesday a series of bilateral agreements that seek to promote economic, academic, scientific, security, and cultural experiences between the two islands that share deep historical ties.
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Cuba opening poses challenge, prospects for Puerto Rico
December 18, 2014
The White House’s announcement Wednesday of charting a “new course” in its relations with Cuba drew immediate response from decision- and opinion-makers in Puerto Rico, which agreed for the most part that pulling the neighboring island country out of its isolated state will present challenges and opportunities in years to come.
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Panel of experts offers ‘wish list’ for Puerto Rico growth
December 12, 2014
NEW YORK — A panel of experts comprising analysts, economists and financial advisors gathered in Manhattan on Friday to analyze Puerto Rico’s current fiscal conditions and offer suggestions for turning the ship around in 2015, many of which require tough decisions.
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Panama’s U.S. ambassador offers upbeat outlook for ’15
December 9, 2014
WASHINGTON — Panama, host of the VII Summit of the Americas next April, will see its economy grow faster in 2015 than anywhere else in the Western Hemisphere.
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McCain blasts Jones Act as ‘contradictory’ to U.S. values
December 8, 2014
WASHINGTON — Sen. John McCain (R-Arizona) lashed out at the Jones Act during a panel at the Heritage Foundation, saying the 94-year-old maritime law is an anachronism that hurts U.S. farmers and manufacturers at the expense of foreign rivals.
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Top Cuban economist pessimistic on island’s prospects
December 8, 2014
WASHINGTON — One of Cuba’s top experts on international finance was decidedly pessimistic when discussing the island’s economic prospects at a recent conference in Washington.
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Report: Fiscal lessons Cuba could learn from Costa Rica
December 2, 2014
WASHINGTON — Cuba, whose halting reforms have failed to energize the island’s stagnant, centralized economy, may have a thing or two to learn from Costa Rica — which over the last 30 years has made enormous strides in slashing poverty, promoting trade and luring foreign direct investment.
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Op-Ed: Myths and truths on Puerto Rico’s current cycle
December 2, 2014
Puerto Rico’s “Great Recession,” as is the case with any complex phenomena, is not without its own myths.
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Business leaders discuss challenges affecting operations
December 1, 2014
More than 25 business leaders gathered to share their strategies in the face of the economic challenges Puerto Rico is experiencing, pointing out four specific issues that jump out under current conditions.
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Trade groups: Transportation shutdown would be chaos
November 26, 2014
Nine local trade organizations representing contractors, mechanics, architects and engineers, among others, raised a collective red flag of concern over the looming possibility of a shutdown of the Puerto Rico Highway and Transportation Authority, saying it would be “chaos” and would leave hundreds of workers on the street during the holiday season.
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PR Community Foundation launches $500K fund
November 24, 2014
The Puerto Rico Community Foundation recently launched the Community Investment Fund to attract public and private investors into an instrument whose purpose is to provide access to capital to nonprofit organizations.
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Op-Ed: On Small Biz Saturday, ‘shop small, dine small’
November 18, 2014
As the voice for our nation’s entrepreneurs, we at the U.S. Small Business Administration (SBA) celebrate small businesses daily.
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Op-Ed: Game changers in Puerto Rico
November 17, 2014
According to the Merriam Webster Dictionary, a game changer is a newly introduced element or factor that changes an existing situation or activity in a significant way.
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