LeadPivot Technologies launches finance, investment education app
January 7, 2022
Puerto Rican firm LeadPivot Technologies recently unveiled a new mobile app called “Publicaciones de Birling Capital,” which contains all the finance and investment-related content produced by Birling Capital. LeadPivot Technologies is Birling Capital’s software development division, and its focus is to drive business growth and transform it through digital tools to achieve better services, customer […]
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PRIDCO expects to reap benefits of ‘strategic transformation’ in ’22
January 5, 2022
After wrapping up what he called a “complex year” during which many projects were kicked-off and made possible using Puerto Rico Industrial Development Company (PRIDCO) properties, agency Executive Director Javier Bayón said 2022 brings a loaded agenda in favor of Puerto Rico’s economic development. PRIDCO officials spent the better part of 2021 reshaping the agency’s […]
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FEMA moves forward with earthquake recovery efforts in Puerto Rico
January 5, 2022
Two years after the string of earthquakes that hit Puerto Rico at the end of 2019, the recovery continues with more than $523 million that the Federal Emergency Management Agency (FEMA) has allocated. The funds are distributed among projects in 14 municipalities of the southern, western, and central parts of the island. Among the structures […]
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Lexus ‘reframes’ vision of luxury to focus on life experiences
January 5, 2022
These days, luxury is defined as something far beyond material possessions and is now related to experiences that offer an element of surprise, affect lives and that become unforgettable. That’s what Lexus’ new vision is about, focusing its efforts on “reframing” the meaning of luxury, the brand stated. As part of the brand’s ongoing changes, […]
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Kinderhook closes acquisition of Medical Card System Inc.
January 4, 2022
Nearly seven months after announcing its intention to acquire Puerto Rico-based healthcare services organization Medical Card System (MCS), MHH Healthcare, L.P. announced it has closed the transaction. MHH Healthcare is a platform company formed by Kinderhook Industries, LLC to invest in health plans, health maintenance organizations, and healthcare services organizations. The transaction completes MHH Healthcare’s […]
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Individual investors paid nearly $100M in taxes in 2017-2018, DDEC report shows
January 4, 2022
Beneficiaries of the Individual Investor Incentive program under Law 60, or the Puerto Rico Tax Code, paid nearly $100 million in taxes in 2017 and 2018, according to the Department of Economic Development and Commerce’s (DDEC, in Spanish) “Annual Report on the performance of the incentives granted under the Puerto Rico Incentives Code.” The first […]
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The 20/22 Act Society donates $1.2M to 37 nonprofits in Puerto Rico
January 4, 2022
The 20/22 Act Society announced the distribution of funds to some 37 nonprofit organizations on in Puerto Rico, who received a combined $1.2 million. “Commitment to charities is the most important pillar of our organization,” said Robb Rill, founder of The 20/22 Act Society. “For the second year in a row and despite the prevailing […]
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FCC launches new affordable broadband connectivity subsidy program
January 4, 2022
Following Congressional directives in the Infrastructure Investment and Jobs Act, the Federal Communications Commission officially launched the Affordable Connectivity Program, the $14.2 billion successor program to the Emergency Broadband Benefit which helped almost 9 million afford internet access during the pandemic. Effective now, eligible households are encouraged to apply to receive up to $30 per […]
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Frommer’s includes San Juan in its ‘10 Best Places to Go’ in US in ’22
January 4, 2022
Frommer’s Travel Guide has put together a list of its 10 Best Places to Go in the United States this coming year, which includes San Juan, which it describes as “newly revitalized following its quincentenary.” “With COVID-19 still a major concern, the Frommer’s staff struggled with whether to publish our annual Best Places article for […]
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USDA opens call for grants to preserve affordable rural rental housing
January 4, 2022
The US Department of Agriculture announced it is accepting applications for grants to assist in the preservation of affordable rural rental housing, for which it is making $3 million available. Grant recipients will provide services to multi-family housing borrowers and applicants. These services will help facilitate the transfer of properties financed with USDA direct loans […]
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EDB: Key indicators show Puerto Rico’s economic recovery in ’21
January 3, 2022
Several positive indicators point to an economic improvement on the island during 2021 in the face of the great losses caused by the COVID-19 pandemic, Puerto Rico Economic Development Bank President Luis Alemañy said. The agency’s Center for Economic Studies — headed by Economists Gladys Medina and Juan Carlos Gonzalez — offered a rundown of […]
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Puerto Rico private sector urges Executive, Legislative to ‘execute’ in ’22
January 3, 2022
The Puerto Rico Chamber of Commerce (CofC, in Spanish) asked the government — both the Executive and Legislative branches — the schedule to begin “executing” to move from recovery to economic growth, said Luis Gierbolini, president of the private sector trade group. In his statement, Gierbolini said Puerto Rico must move to resolve the issues […]
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Puerto Rico Opportunity Zone Fund invests in Fusion Farms
December 30, 2021
Monllor Capital Partners LLC announced that the Puerto Rico Opportunity Zone Fund, LP private equity fund has made an undisclosed investment in Mayagüez-based Fusion Farms, a vertical indoor aquaponic farm developer and operator. The Puerto Rico Opportunity Zone Fund (PROZ) is reportedly the first private equity firm fund focused on Environmental, Social, and Governance (ESG) […]
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US Dept. of Treasury grants 1-year transition period for taxpayers under Act 154
December 30, 2021
The US Department of Treasury and the IRS released the final regulations related to the Foreign Tax Credit under Act 154, which grants an additional transition year to taxpayers who currently pay under that tax system, Puerto Rico Treasury Secretary Francisco Parés confirmed. “The provisions in the regulations, regarding Puerto Rico, are the product of […]
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Education Dept. signs $12M agreement to provide fresh milk to lunchrooms
December 30, 2021
The Puerto Rico Education Department and the Milk Industry Promotion Fund signed an agreement through which the agency will invest $12 million to distribute fresh milk to the island’s public-school lunchrooms. The agreement will be in effect through Sept. 30, 2024 and complies with federal regulations that require offering five food components to lunch service […]
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