Economist: Puerto Rico has a lot to learn from NYC crisis
June 9, 2014
Puerto Rico is in the throes of one of the most serious economic depressions in the last 40 years of its history as a Commonwealth. However, it is not alone in its experience, which could be compared to the fiscal crisis New York City faced in 1975, when it was on on the verge of defaulting on its obligations.
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Summer group business pumping $14.8M into economy
June 6, 2014
Puerto Rico’s group business activity is kicking off strongly this summer, with 70 events — including conferences, annual meetings and sports activities — already lined up for the season.
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Economist firm: Puerto Rico still ‘moving sideways’
June 4, 2014
Puerto Rico needs to find its “true north,” by aligning all of its efforts and resources toward achieving economic growth and job creation, or risk experiencing an outcome “much worse than has so far been imagined,” said economist firm H. Calero Consulting Group in its most recent edition of “Compass,” an internal publication.
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Khoury: Broadband deployment key for economy
June 2, 2014
Broadband Internet adoption in both the residential and business sectors is vital for Puerto Rico’s economic development because it can serve as a tool to create jobs and promote businesses, said Naji Khoury, president of Liberty Puerto Rico.
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Puerto Rico, USVI auto sales plummet 15% in April
May 14, 2014
Automotive sales in Puerto Rico and the U.S. Virgin Islands went into a freefall last month, when results were down 15 percent in comparison to the same month last year, the United Automobile Importers Group (known as GUIA for its initials in Spanish) informed Tuesday.
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Economist: Indication of economic growth is a ‘mirage’
May 6, 2014
The indication by members of Gov. Alejandro García-Padilla’s administration of a slight economic recovery over the past two fiscal years is “simply a mirage,” and it will take significant adjustments to achieve the growth predicted for coming years, economist firm H. Calero Consulting Group Inc. said in its most recent monthly publication.
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Planning Board overhauling economic analysis methods
May 1, 2014
The Puerto Rico Planning Board is working on an integrated plan to streamline and update the process of gathering, analyzing and releasing statistics, seeking to strengthen the numbers available for the island’s economic activities, agency President Luis García-Pelatti said Wednesday.
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Film Commission programs will remain in place
May 1, 2014
Integrating the Puerto Rico Film Commission into the Economic Development and Commerce Department will “help align Puerto Rico’s strategies to promote the film industry, while generating efficiencies to maintain the Film Fund,” said the latter agency’s Chief Alberto Bacó-Bagué Wednesday.
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Planning Board pegs ’15 economic growth at 0.2%
April 30, 2014
The Puerto Rico Planning Board released Tuesday its economic projections for Fiscal years 2014 and 2015, in which it is estimated a base growth in real Gross Domestic Product of $6.5 billion million this year, representing an increase of 0.1 percent compared to Fiscal 2013.
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P.R. Products Assoc. unveils proposals, elects new board
April 28, 2014
The Puerto Rico Products Association held its annual convention this weekend, when it unveiled its proposals for economic development as well as elected its new board of directors.
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Puerto Rico in hot pursuit of stateside investors
April 25, 2014
Puerto Rico is in hot pursuit of the wealthiest stateside investors, with the public and private sectors banding together to showcase the benefits — both legal and natural — that the island has to offer.
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Puerto Rican banking exec González ‘at home’ at FHLBNY
April 16, 2014
It was two weeks ago that Puerto Rican banking veteran José Ramón González took over the helm of the Federal Home Loan Bank of New York, an institution that is one of the main driving forces behind the island’s financial district.
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Looking for a gig? Guisito.com is the online place to be
April 16, 2014
Everybody knows that Puerto Rico’s economy is tough and finding a job may be no easy feat. And even if you have a job, challenging times such as these often bring out the creativity in people who will turn to their natural or learned talents to make ends meet.
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Group offers 34 fixes to Puerto Rico’s pressing issues
April 14, 2014
A workgroup comprising public and private sector representatives handed Gov. Alejandro García-Padilla a report containing 34 recommendations Sunday to tackle Puerto Rico’s low labor participation rate, brain drain, the aging population and the underground economy.
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Ford Co. drives $1M to Puerto Rico nonprofits in 5 yrs.
April 14, 2014
Ford Motor Company has been a member of Puerto Rico’s consumer culture for decades, putting tens of thousands of vehicles on local roads. But over the past five years, the automaker has also inserted itself into the island’s community in a different way — investing in nonprofits to drive education and prevention programs.
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