Puerto Rico Labor Secretary stepping down Dec. 31
December 15, 2021
Following a year and a half at his post as Puerto Rico Labor Secretary, Carlos Rivera is stepping down for personal reasons effective Dec. 31, he confirmed in an interview with News is my Business. “I’ll be honest when I say that I had to manage an emergency and I wasn’t going to turn my […]
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Puerto Rico Labor Dept. investing $22M on new online jobless benefits platform
December 15, 2021
The Puerto Rico Labor Department will implement a new virtual platform for the island’s unemployment program — a $22 million project for which it has hired the firm Geographic Solution to work in collaboration with the Puerto Rico Innovation and Technology Services (PRITS) office. The new platform will be developed in phases and will be […]
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Condado Plaza Hilton to reopen casino following $33M investment
December 15, 2021
The Condado Plaza Hilton will get back into the casino business, with the projected opening of a new 15,000 square-foot gaming space that will house 300 slot machines and dozens of gaming tables. The Condado Plaza Hilton, which shuttered its casino in 2015, got its endorsement from the Puerto Rico Gaming Commission, putting it one […]
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Punta Borinquen Resort reopens in Aguadilla after $8.6M investment
December 15, 2021
The Punta Borinquen Resort has reopened in Aguadilla after substantial renovation of the facilities, through an investment of $8.6 million, hotel officials confirmed. The inn is located on the grounds of the former Ramey Base just minutes from the Rafael Hernández International Airport and its operation generates nearly 200 direct jobs in the western region. […]
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Puerto Rico Society of CPAs forum focuses on cybersecurity
December 15, 2021
To raise awareness and put a spotlight on the impact that cyber-crimes have on the daily operations of a company, the Puerto Rico Society of CPAs (CPAs) recently hosted the 10th edition of its cyberforum focusing on having a cyber security culture. “Facing the new year 2022, we must strengthen cybersecurity knowledge and strategies in […]
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SBA Puerto Rico graduates 29 co.’s from emerging leaders program
December 15, 2021
The U.S. Small Business Administration Puerto Rico & US Virgin Islands District graduated 29 companies from its Emerging Leaders program for Puerto Rico entrepreneurs, completing the fifth cycle of the mini-MBA training series. Virtual cohorts were offered to entrepreneurs across the island, with virtual cohorts based in San Juan and, for the second time, Ponce. […]
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Coalition vying for $100M in ‘Build Back Better Regional Challenge’ funds
December 14, 2021
The Northwestern Puerto Rico Bio Manufacturing Cluster, led by the Department of Economic Development and Commerce (DDEC, in Spanish), is in the running for $100 million in funds available through the US Economic Development Administration’s “Build Back Better Regional Challenge.” The federal agency confirmed that 60 finalists have been short-listed for the program that has […]
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San Juan to invest $210M over 36 months to revitalize infrastructure
December 14, 2021
San Juan Mayor Miguel Romero unveiled a lofty agenda to develop and revitalize the city’s infrastructure, investing $210 million over the next 36 months. The works will be developed through grants obtained from the Federal Transit Administration, the Federal Emergency Management Agency (FEMA), CDBG-DR funds under the City Revitalization program, as well as local funds, […]
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Labor Dept. transfers 19 ‘Pa’ mi Gente’ kiosks to promote self-employment
December 14, 2021
The Puerto Rico Labor Department announced the transfer of 19 mobile kiosks to the same number of municipalities in Puerto Rico’s southern, eastern, and western flanks to boost self-employment and economic activity, agency Secretary Carlos Rivera confirmed. The “Pa’ mi Gente” program was created in 2010 and ran through December 2016 under the Labor Department. […]
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Triple-S Management stockholders OK merger with GuideWell
December 14, 2021
Triple-S stockholders approved the merger with GuideWell Mutual Holding Corporation, a health solutions company and parent of Blue Cross and Blue Shield of Florida, Triple-S Management Corp. announced. The approval comes nearly four months after the companies announced the deal through which GuideWell will acquire all the outstanding shares of Triple-S Management common stock for […]
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IEEFA warns Puerto Rico Legislature against power plant privatization process
December 14, 2021
In a letter to the Puerto Rico Legislature, Tom Sanzillo, director of Financial Analysis at the Institute for Energy Economics and Financial Analysis (IEEFA), urged the House and Senate to reevaluate the ongoing bidding process to privatize operations of the island’s power plants. “We have observed the flaws in the privatization processes of LUMA Energy and […]
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Puerto Rico’s banking industry continues to strengthen in past year
December 13, 2021
The Puerto Rican banking industry has continued to strengthen over the past year, supported by an increase in liquidity and the strengthening of asset quality. The Financial Stability Index for Commercial Banks in Puerto Rico, prepared by Estudios Técnicos, Inc., increased to 0.60 in the third quarter of 2021, compared to 0.47 in the same […]
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Discover Puerto Rico’s ‘Sounds like Puerto Rico’ series wins 3 Emmy awards
December 13, 2021
The video series “Sounds like Puerto Rico” received three nods during the 45th Annual Suncoast Regional Emmy Awards, held over the weekend. The videos produced by Discover Puerto Rico, the island’s Destination Marketing Organization (DMO), were distinguished as best magazine series, cinematography, and editing. “Sounds like Puerto Rico” was nominated in five categories, including best […]
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$135M Emerald Vista mixed-use complex opens in Caguas
December 13, 2021
National housing and urban renewal developer, McCormack Baron Salazar, and the Puerto Rico Department of Housing welcomed a group of leaders, including the Governor of Puerto Rico, community members, and the media to the grand opening of the new mixed-income apartment community, Emerald Vista. With an investment of about $135 million and the first multifamily […]
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Op-Ed: Our DMO continues to fulfill its mission by doing the right things, correctly!
December 13, 2021
During the past two months, we have heard expressions from a small group of voices criticizing the Convention District, Discover Puerto Rico (DMO), and the government of Puerto Rico, for investing in the Dick Clark’s New Year’s Rockin’ Eve event, one of the most watched events in the United States. While we support that the use of all […]
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