Banking sector ‘optimistic’ about ’12
January 10, 2012
Following a year taken up mostly by efforts to stabilize operations, the banking sector is ready to regain full financial footing and begin growing loan portfolios in 2012. All that activity should yield a much-needed positive effect on the economy, several high-ranking bankers told News is my Business.
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CofC sees ‘challenges ahead’ in ’12
January 3, 2012
Even before 2012 started it was already shaping up to be a year of “many challenges” for the island’s economy, Puerto Rico Chamber of Commerce President Salvador Calaf said.
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Fortuño signs law to move ‘Science District’ forward
October 21, 2011
Governor Luis Fortuño turned into law Thursday a bill to stimulate science and technology through the creation of the Puerto Rico Science, Technology and Research District and boost the financial support given to the Science, Technology and Research Trust.
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BBVA Research: LatAm economy to grow 4.8% in ’11, P.R. recovery lagging
August 22, 2011
The Latin American economy will grow 4.8 percent this year, converging at rates of around 4 percent in 2012 and 2013, slightly above BBVA Research’s prior forecast, due to high commodity prices and stronger domestic demand than anticipated in some countries, Joaquín Víal, chief researcher for the organization’s South American unit.
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Flurry of cancellations as P.R. braces for Tropical Storm Irene
August 21, 2011
As Tropical Storm Irene cut across Puerto Rico Sunday, the private sector shut down most operations late in the day and called off numerous activities for Monday. Following is a sector-by-sector roundup of cancellations.
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Private sector: Obama’s visit ‘positive, good starting point for economic recovery’
June 15, 2011
President Barack Obama’s visit to Puerto Rico drew a slew of positive feedback from a handful of private-sector executives invited to his welcoming Tuesday, with most concurring that the historic event was positive and could result in long-term benefits.
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Fortuño signs off on $304M bond issue for road improvements
June 1, 2011
Gov. Luis Fortuño signed the law approving a $304 million bond issue to finance several infrastructure projects, mainly road improvements, planned throughout the island.
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San Germán’s Hospital de la Concepción receives recognition
May 25, 2011
The Puerto Rico Hospitals Association recently named Hospital de la Concepción in San Germán “2011 Hero” for its 500 years of health care services, particularly to residents of the island’s southwestern region. “Aside from celebrating our people’s daily efforts to care for our community’s physical and spiritual well-being, we commemorate 500 years of humanitarian work […]
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Fortuño administration files new cruise ship industry law
May 25, 2011
Slightly more than a month before the island’s current cruise ship incentives law expires, the Gov. Luis Fortuño administration filed Wednesday a new bill that would expand the scope of benefits offered to a sector that generates $245 million for the local economy.
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Advent-Morro pumps $5M into La Familia pawnshop chain
May 24, 2011
Private equity firm Advent-Morro announced Tuesday it is investing $5 million in pawnshop chain La Familia to support its expansion plans in Florida and Puerto Rico.
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Payá restaurant closes its doors
May 24, 2011
Contemporary criollo bistro Payá closed its doors abruptly on Tuesday, leaving only a note on the door of the restaurant located at City View Plaza in Guaynabo.
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El Blok hotel in Vieques to open December ’12
May 24, 2011
Nearly three months after announcing the approval of a $3.5 million loan to facilitate the construction of a new boutique hotel in Vieques, Economic Development Bank officials participated Monday in the groundbreaking for what in December 2012 should become the El Blok boutique hotel.
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From the Boondocks
May 24, 2011
Former telecom executive Raúl Burgos, who since leaving the industry has been immersed in the world of entrepreneurship, offers his candid take on Puerto Rico’s business landscape and how it compares to what is going on beyond our shores.
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CPI jumps 2.5% year-over-year in April, dips slightly vs. prior month
May 20, 2011
Increasing healthcare, transportation, housing and food costs put pressure on the island's Consumer Price Index, which jumped by 2.5 percent year-over-year in April, but seemed to show slight improvement in comparison to the prior month.
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Retailers: P.R. must remain efficient to endure rising food prices
May 5, 2011
The links that make up Puerto Rico’s food chain — shippers, distributors and retailers — need to become as efficient as possible to keep costs in check as external pressures continue mounting and threatening the price and availability of products.
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