Puerto Rico Treasury: General Fund net income for July, Aug. exceed projections by $177M
October 20, 2021
Net income that flowed into the Commonwealth’s General Fund for July and August reached $801.1 million and $675 million, respectively, for a total of about $1.5 billion, which exceeded collections projections by $176.9 million, Puerto Rico Treasury Secretary Francisco Parés said. Income tax collections for individuals and corporations exceeded the projection by $51.2 million or […]
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Foundation for Puerto Rico gets $254K grant from Wells Fargo
October 20, 2021
Foundation for Puerto Rico (FPR) announced the launch of [re] ACTIVA, a new mentoring and training program aimed at small businesses whose operations have been affected by the COVID-19 pandemic. The program emerged after the nonprofit received of a $254,487 grant from Wells Fargo Open Business Fund. The entity is the only local organization on […]
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EDB: ‘US inflation outlook consistent with prices increase perceived by local consumers’
October 20, 2021
The Puerto Rico Economic Development Bank’s (EDB, in Spanish) Center for Economic Studies confirmed in a report that the inflationary outlook in the US mainland is consistent with the increase in prices perceived by local consumers. During a news conference, EDB President Luis Alemañy said from the lowest point recorded in June last year (-1.7%), […]
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US Dept. of Labor recovers $106K in overtime wages for 136 security guards in Puerto Rico
October 20, 2021
A US Department of Labor Wage and Hour Division investigation found that a Puerto Rico-based security services company misclassified 136 of its employees as independent contractors, denying them about $106,000 in overtime pay required under the federal Fair Labor Standards Act. Division investigators determined that Advance Investigation Group Inc. of Bayamón misclassified security guards as […]
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GSK Consumer Healthcare to reduce plastic in Advil bottles by 20%
October 20, 2021
GSK Consumer Healthcare, maker of Advil, announced it will reduce the amount of plastic used in the production of more than 80 million of its bottles by 20% for eco-friendly packaging allowing a decrease of almost 500,000 pounds of plastic, preventing it from getting into the environment. Advil’s packaging, which is made with a new […]
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Endeavor Puerto Rico catalyst fund raises $1M from local investors
October 19, 2021
Three years since its establishment on the island, Endeavor Puerto Rico has raised $1 million for its Endeavor Catalyst Fund, from local investors who seek to support the nonprofit’s goal “to help more entrepreneurs innovate, grow and create a mark on the global stage.” The nonprofit presented a result report that summarizes the most important […]
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Labor Dept. reminds employers about Christmas bonus exemption rules
October 19, 2021
The Department of Labor and Human Resources informed employers that they have until Dec. 15, 2021, to pay the bonus to private sector workers who are entitled to it, according to Puerto Rico laws. Employers looking to be exempted from paying the bonus to their employees, because they suffered economic losses or received earnings that […]
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University of Puerto Rico gets $750K to open research facility
October 19, 2021
The University of Puerto Rico’s Department of Chemistry at its Río Piedras campus has received a $750,000 grant to establish a Center for the Advancement of Hybrid Research Experiences for Underrepresented Students. The funding comes from the US Department of Education, under the Minority Science and Engineering Improvement Program (MSEIP) and will extend for three […]
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Executive posts filled at Wyndham Palmas, Subway, Banesco, NUC
October 19, 2021
This week’s edition of Climbing the Corporate Ladder includes professional appointments in the areas of hospitality, education, and banking, among others. Wyndham Palmas Golf and Beach Resort builds on exec. teamHospitality investment firm LionGrove and Andro Nodarse-León, the company’s CEO, announced new appointments at their recently acquired property, Wyndham Palmas Beach and Golf Resort in […]
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Mentes Puertorriqueñas en Acción launches 12th call for social sector internship
October 19, 2021
Nonprofit Mentes Puertorriqueñas en Acción (MPA) has launched a call for its 12th annual PARACa social action internship, in alliance with AmeriCorps VISTA, and PARACa summer 2022. The deadline to submit the application for the annual internship is Oct. 30, 2021 and the summer edition will be open until Feb. 28, 2022. This project targets […]
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Medical Cannabis Regulatory Board OKs freeze on license fees for doctors
October 19, 2021
The Medical Cannabis Regulatory Board recently approved a moratorium on the payment of license fees for physicians in Puerto Rico who wish to register or renew their authorization to recommend medical cannabis treatment to patients. This action resulted from a “weighted analysis” of the current situation related to the limited availability of doctors authorized to […]
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Toyota de Puerto Rico unveils new $24M HQ’s in San Juan
October 18, 2021
Toyota de Puerto Rico unveiled its new $23.6 million corporate headquarters at the 654 Plaza building in San Juan, where it also invested another $3 million to create a state-of-the-art training center. Advances in technology, the company’s needs, and Toyota’s commitment to Puerto Rico made it necessary to move its offices to new the facilities, […]
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StartUp Popular looking to the future and prepared for new entrepreneurs
October 18, 2021
For more than five years, StartUp Popular has been a promoter of entrepreneurship and the economy of Puerto Rico. The program, which has been dedicated to offering financing, coaching and events to encourage networking among local entrepreneurs, will continue to receive applications. StartUp Popular is designed for entrepreneurs who have a business with two years […]
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Medtronic launches program to recognize healthcare workers who ‘inspire’
October 18, 2021
Medical technology company Medtronic plc announced the launch of “Inspiradores,” a recognition program to honor and celebrate health workers in Latin America through life stories. The launch coincides with the World Health Organization’s (WHO) designation of 2021 as the “International year of health and care workers.” In its inaugural year, the “Inspiradores” program will recognize […]
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Liberty partners with PARE Committee to fight gender violence
October 18, 2021
Liberty Puerto Rico and the PARE Committee recently entered a partnership to reinforce and maximize the projection and dissemination of PARE Committee’s educational campaign against gender violence. The president of the PARE Committee and Family Department Secretary Carmen A. González-Magaz, along with executives from Liberty Puerto Rico and its parent company, Liberty Latin America, were […]
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