Filming of ‘22 Jump Street’ to pump $9M into economy
December 6, 2013
For the next two weeks, parts of San Juan will become the backdrop for the filming of “22 Jump Street,” a Hollywood production that is expected to pump $9 million into the Puerto Rican economy.
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Experts discuss Cuba’s emerging entrepreneurial class
November 26, 2013
Up to 40 percent of Cuba’s labor force is already working in the private sector, making the country a largely middle-class society and discrediting the notion that Fidel and Raúl Castro must die before real economic change can occur on the island.
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Task Force to help Puerto Rico ‘maximize federal funds’
November 21, 2013
A team of federal officials representing several agencies will come to Puerto Rico next month to help the local government navigate through the economic crisis, prompting more rumblings of the possibility of a receivership for the island.
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Economist: Puerto Rico’s road to economy feasible, long
November 18, 2013
Puerto Rico’s road to economic recovery is feasible, but remains a long one and depends entirely on the government’s commitment to lowering electricity costs, stabilizing fiscal revenue, reverting net outward migration, and increasing private investment, H. Calero Consulting Group Inc. expressed in the latest edition of “Compass,” its quarterly publication.
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OSJ businesses, artists have high hopes for ‘La Campechada’
November 15, 2013
Several restaurant managers and artisans in Old San Juan agreed that “La Campechada” is going to represent a positive economic boost for local artists and shops making a living in the historic city.
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First BanCorp earns $15.9M in 3Q13
October 24, 2013
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported Wednesday net income of $15.9 million for the third quarter of 2013, or $0.08 per diluted share, compared to a net loss of $122.6 million, or $0.60 per diluted share, for the second quarter of 2013 and net income of $19.1 million, or $0.09 per diluted share, for the third quarter of 2012.
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Microfinanzas Puerto Rico gets federal certification
October 17, 2013
Microfinanzas Puerto Rico President Annette Montoto said Wednesday that the microfinancing firm has been reorganizing its structure as of late — striking new strategic partnerships and reinforcing its services —to more effective cater to its entrepreneurs client base.
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Op-Ed: The development of new export sectors in Puerto Rico
October 17, 2013
The economic challenges Puerto Rico has been facing for over a decade now (and the fact that during that time Latin America has experienced an historic growth in which many of us did not participate) remain the thorn in the side of local enterprises, which titanically still hold together much of our economy.
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Op-Ed: Puerto Rico’s glaring signal to change course
October 15, 2013
Various publications have recently highlighted Puerto Rico’s economic troubles as reflected in the municipal bond market.
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Oriental Bank CEO to head Bankers Association
September 10, 2013
Oriental Bank President José Rafael Fernández will be chairing the Puerto Rico Bankers Association starting this month, something he described Monday as “a true challenge, but a great opportunity.”
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Education, infrastructure are roadblocks for Puerto Rico
September 5, 2013
While Puerto Rico’s competitive capacity depends mostly on its capacity to innovate, the island faces great challenges in education and infrastructure — areas that require immediate attention to position it favorably against other global economies.
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Puerto Rico GDB head reacts to Barron’s cover story
August 27, 2013
Puerto Rico has made significant progress in addressing its financial challenges and continues to focus on taking aggressive action to achieve fiscal stability and promote economic growth, said Government Development Bank for Puerto Rico Acting President José Pagán, in response to a story by published respected weekly paper Barron’s.
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Puerto Rico’s economic woes ‘hollowed out’ middle class
August 5, 2013
The economic transition that Puerto Rico has been going through for the past seven years has been “extremely painful” for many, as “employment trends have polarized the workforce and hollowed out the middle class,” according to the most recent edition of “Compass,” a publication by Heidie Calero Consulting Group.
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New taxes could reduce Puerto Rico’s real growth by 3.3%, slash 30K jobs in 2 yrs.
July 30, 2013
Preliminary analysis conducted by economic analysis firm Heidie Calero Consulting Group suggests the impact of new taxes implemented in Puerto Rico this month could lead to a reduction of 3.3 percent real growth during the next two fiscal years with a loss of up to 30,000 jobs.
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FirstBank hosts educational seminar in Ponce
July 1, 2013
A group of entrepreneurs who own small- and mid-sized businesses in Ponce recently took part in a seminar hosted by FirstBank Puerto Rico, marking the start of the second phase of an educational program launched last year to provide financial literacy tools to that sector. Economist Gustavo Vélez offered the seminar entitled “Economic trends for […]
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