$250K Trackman Range opens at Bahía Beach Resort & Golf Club
August 4, 2021
The Bahía Beach Resort & Golf Club in Río Grande announced the integration and opening of the Trackman Range technology that allows golfers and amateurs to go from practicing using eight points to capture ultra-precise information on their shots, to accessing a series of games, or playing virtually on another course with Virtual Golf software. […]
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Investment Portfolio for Growth program open to grant up to $50M in loans
August 3, 2021
The Puerto Rico Department of Housing announced the opening of the Investment Portfolio for Growth Program (IPG), which is receiving applications to grant up to a maximum of $50 million in low-interest, long-term, partially forgivable loans. IPG has an allocation of $800 million in CDBG-DR recovery funds and is pursuing the island’s economic revitalization on […]
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Startup.pr opens call for applications to its tech business pre-seed funding program
August 3, 2021
Business accelerator Startup.pr has opened a call for local innovators with technology-based projects to apply to the sixth edition of its Pre-Seeding Program by Aug. 8. Winning participants will receive training, prototype design consultancy services, and $5,000 each, said Amaury Malavé, Innovation and Technology Complex director. Six early-stage technology projects will be selected for this […]
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Puerto Rico manufacturing PMI down to 53.3 in June, marks 4th straight drop
August 3, 2021
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector decreased for the fourth consecutive month to 53.3 in June, according to a report produced by the Puerto Rico Manufacturers Association and the Puerto Rico Institute of Statistics. The PMI has sub-indexes — employment, production and new orders — all of which were above the […]
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Liberty Latin America gets OK to buy Telefonica’s Costa Rican operations for $505M
August 3, 2021
Liberty Latin America Ltd. and Telefónica S.A. in Costa Rica announced that the companies have received authorization from Costa Rican President Carlos Alvarado Quesada, for the sale of Telefónica’s operations in Costa Rica to Liberty Latin America’s 80% subsidiary, Cabletica. Liberty Latin America, parent company of Liberty Puerto Rico, will reportedly pay $505 million for […]
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TransPerfect, owned by Puerto Rico-based exec., merges with Semantix
August 2, 2021
TransPerfect, a provider of language and technology solutions for global business, announced it will merge operations with Semantix, the Nordics’ largest provider of translation and interpretation services, through the acquisition of the group’s parent entity, Semantix International Group AB. The deal is said to be worth somewhere in the mid-$90 million, News is my Business […]
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New research reveals price no longer primary driver of travel decisions
August 2, 2021
New research from Expedia Group reveals shifting views on travel, including positive sentiment on vaccine passports, increased budgets, and an enduring demand for safety and financial security. The Traveler Value Index examined the views of 8,000 people in eight countries to understand their values and expectations as the pandemic becomes more controlled in many parts of the world. “As […]
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Puerto Rico General Fund net income exceeds projections by $42.9M in May, Treasury says
July 30, 2021
The Puerto Rico Treasury Department informed that net income shored up into Puerto Rico’s General Fund exceeded $1.4 billion in May, beating the government’s projections by $42.9 million. In a press release, agency Secretary Francisco Parés said the projected amount was $1.3 billion, representing a growth of 3.1%. “This projection is included in the new […]
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Op-Ed: What makes or breaks Puerto Rico’s investment climate
July 30, 2021
A good investment climate offers opportunities for companies ranging from microenterprises to multinationals. Promoting a favorable investment climate allows them to invest productively, create jobs, attract new investments to the island, or expand operations, among other activities. The recent determination of Moody’s Investors Service to withdraw its ratings for the Government of Puerto Rico and […]
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USDA seeks applications for Rural Energy America program
July 30, 2021
The US Department of Agriculture is accepting applications for loan guarantees and grants for renewable energy systems and to make energy efficiency improvements, conduct energy audits and provide development assistance. So far in 2021, the agency has awarded $509,745 to 11 proponents in Puerto Rico, local USDA officials confirmed. Funds are being made available under […]
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30 Puerto Rico-based food production projects get funding from World Central Kitchen
July 30, 2021
World Central Kitchen (WCK) has announced the recipients of its seventh round of grants in Puerto Rico, disbursed through its Food Producer Network. The program builds resilient local food systems and strengthens food security through direct financial support to smallholder farmers and fishers, as well as small food-related businesses and nonprofit organizations. The program seeks […]
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Enterprise Holdings awards $20K in grants to 7 Puerto Rico nonprofits
July 30, 2021
Enterprise Holdings — parent company of Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands — is awarding $20,000 to seven Puerto Rico-based nonprofits as part of its ROAD Forward program. Through the Enterprise Holdings Foundation, the company will grant a total of $7 million to nearly 700 nonprofits addressing social and racial equity […]
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USDA releases $966M in PAN funds to Puerto Rico in response to COVID-19
July 29, 2021
The US Department of Agriculture’s Food and Nutrition Service announced the release of $966.12 million in additional Nutritional Assistance Program (PAN, in Spanish) funds to help Puerto Rico residents “who are still struggling from the COVID-19 pandemic.” More than 1.5 million Puerto Rico residents — nearly half of the island’s population — participate in the […]
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SBA announces up to $300K to fund Women’s Business Centers in Puerto Rico
July 29, 2021
The U.S. Small Business Administration announced the availability of $300,000 for up to two new grant opportunities for established and aspiring Women’s Business Center (WBC) host organizations. When funded, the WBC’s will provide outcome-oriented business services for women entrepreneurs in Puerto Rico, the agency said. “The SBA’s Women’s Business Center program is a dedicated resource partner, and […]
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158K households have signed up to FCC’s Emergency Broadband Benefit program
July 29, 2021
The Federal Communications Commission (FCC) confirmed that 158,333 households in Puerto Rico have enrolled in the Emergency Broadband Benefit Program, joining some 4 million others across the US mainland. The $3.2 billion subsidy program initiated by Congress provides a temporary $50 to $75 discount on eligible households’ internet bills during the duration of the pandemic. […]
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