FEMA OKs $90M in Community Disaster Loans for earthquake-affected towns
July 23, 2021
The Federal Emergency Management Agency (FEMA) announced the approval of nearly $90 million in low-interest Community Disaster Loans, known as CDLs, to assist the municipalities affected by the 2020 earthquakes in their long-term recovery. Twenty-five municipalities in the south, center and west of the island benefitted from this federal assistance, which ended on June 30. […]
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Steven Anthony Children’s Hospital raises $50K to build Ponce facility
July 23, 2021
The Steven Anthony Children’s Hospital (SACH) in Ponce recently raised $50,000 in the second Walk of Hope that toured 12 municipalities in the southern region. The effort got support from municipal governments, backers the organization who joined on the route to make their contributions, the Club de Leones de Puerto Rico and private company Pentac […]
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Puerto Rican condiment maker Doña Yiya invests $50K in renewable energy
July 23, 2021
With the goal to continue producing fresh consumer products and to comply with federal and local regulations, San Sebastián-based condiments manufacturer Doña Yiya Foods recently invested $50,000 to add SunBeat Energy storage equipment into its existing photovoltaic system. Management now feels that its production line will not be affected by any atmospheric event or power […]
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Puerto Rico wins $25M settlement from ExxonMobil contaminant suit
July 22, 2021
The US District Court for Puerto Rico approved a $25 million settlement in Puerto Rico’s favor as part of a lawsuit the Commonwealth filed more than a decade ago against ExxonMobil Corp. and Esso Standard Oil Co. claiming the companies contaminated the island’s groundwater. The Commonwealth of Puerto Rico, through the Environmental Quality Board, filed […]
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Oriental CEO: ‘It’s time to pull out of bankruptcy’
July 22, 2021
OFG Bancorp, the parent company for Oriental Bank, reported results for the second quarter ended June 30, 2021, that revealed diluted earnings per share of $0.78 compared to $0.56 in first quarter of 2021 and $0.39 in 2Q20. Total core revenues were $133.3 million compared to $127.7 million in first quarter of 2021 and $128.2 […]
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Puerto Rico Treasury, State Insurance Fund to offer services next week
July 22, 2021
The Puerto Rico Treasury Department and the State Insurance Fund Corp. (CFSE, in Spanish) will continue to offer services next week, when Gov. Pedro Pierluisi gave Wednesday, Thursday and Friday off to government workers. Monday and Tuesday are official holidays, so public sector employees are allowed to take the rest of the week as vacation […]
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US Dept. of Labor opens comments on regulation to raise pay for federal contractors
July 22, 2021
The US Department of Labor announced a Notice of Proposed Rulemaking to establish standards and procedures to implement and enforce Executive Order 14026 increasing the minimum wage for federal contractors,” signed by President Biden on April 27, 2021. The order includes US territories, namely Puerto Rico and the US Virgin Islands, the agency confirmed. This Executive Order will: — […]
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Moody’s cites ‘business reasons’ to withdraw Puerto Rico’s credit ratings
July 21, 2021
Moody’s Investors Service announced it has withdrawn the general obligation and related ratings of the Commonwealth of Puerto Rico, citing only “business reasons,” for pulling out. The decision to no longer provide ratings includes those assigned to the Puerto Rico Aqueduct & Sewer Authority, the Puerto Rico Electric Power Authority, and the University of Puerto […]
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Fenwal Int’l investing $34M to create state-of-the-art campus in San Germán
July 21, 2021
Fenwal International Inc., a Fresenius Kabi company, announced plans to expand its campus in San Germán, where it plans to consolidate its manufacture of sterile product bags, accessories assembly, and filling operation of saline solution and anticoagulants. The company estimates that it will make a full investment in San Germán of about $34 million to […]
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3 Puerto Rico nonprofits receive $45K through Airbnb fundraising initiative
July 21, 2021
Three Puerto Rico-based nonprofits — CMV Casa sin Fronteras, La Maraña, and the Programa de Educación Comunal de Entrega y Servicio Inc. — will receive a combined $45,000 through the Airbnb Community Fund. The fund was created to distribute $100 million over 10 years to organizations that are strengthening communities around the world, including $10 […]
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Ford marks 20th anniversary of its Ford Environmental Grants program
July 21, 2021
Ford Puerto Rico announced the open call for the 2021 Ford Environmental Grants program, which celebrates 20 years of promoting sustainability and accelerating the conservation of natural resources through the contribution of funds to community projects that positively impact the environment. This year, Ford Environmental Grants will distribute $40,000 to the winning projects. To participate, […]
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PREPA has required legal provisions to enable ‘massive installation’ of photovoltaic systems
July 20, 2021
A new study commissioned by nonprofit organization CAMBIO has identified the existing regulatory and legal alternatives to move toward clean energy and the resilience of each home in Puerto Rico through the model proposed by Queremos Sol, which would provide access to solar panels without depending on the economic capacity of families. “We are presenting […]
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Triple-S Salud launches MiTriples.com for members
July 20, 2021
Health insurance provider Triple-S Salud announced that all its commercial health plan members’ health data and that of their dependents will now be available for their use once members register on mitriples.com. “The new Mi Triple-S website has been designed to provide valuable healthcare information that stems from the use of their health plan to […]
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Puerto Rico car sales up 9.3% Y-O-Y in June, limited by chip shortage
July 19, 2021
The United Automobile Importers Group (GUIA, in Spanish) confirmed that Puerto Rico’s new car sales grew by 9.3% in June, when compared to the same month in 2020, with 11,636 units sold in comparison to the 10,648 new vehicles that rolled off lots in June 2020. “Given that June of last year was the first […]
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Puerto Rico businesses affected by ’20 storms, flooding still may apply for SBA loans
July 19, 2021
The US Small Business Administration is reminding small businesses and most private nonprofit organizations in Puerto Rico that Economic Injury Disaster Loans (EIDLs) are still available to anyone in the declared municipalities in Puerto Rico affected by severe storm and flooding on Sept. 13, 2020. The application deadline is Aug. 5 in the following adjacent […]
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