Fitch Ratings upgrades First BanCorp to ‘BB;’ assigns stable outlook
June 25, 2021
Fitch Ratings announced it has upgraded First BanCorp’s (FBP) Long-Term Issuer Default Rating to ‘BB’ from ‘B+,’ with a stable outlook. “The upgrade primarily reflects Fitch’s review of FBP’s blended operating environment score as well as the resiliency of FBP’s financial profile despite the significant challenges in Puerto Rico’s operating environment over the past several […]
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Op-Ed: 5 reasons to continue protecting ourselves against COVID-19
June 25, 2021
Puerto Rico’s hospitality and entertainment businesses are facing a challenge of great proportions, as we continue the economic reopening that we all long for. In the quest to get more people vaccinated, the protection recommendations issued by our government and health leaders are confusing and inconsistent, causing many residents and visitors to lower their guard, […]
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Nestlé Professional develops Puerto Rican coffee bean product
June 25, 2021
Nestlé Professional announced the expansion of its product offering with the integration of its first Puerto Rican bean coffee, Nescafé Espresso Puerto Rico. With the launch of Nescafé Espresso Puerto Rico, Nestlé seeks to continue its strategy to increase coffee sales in Puerto Rico, which have been in recovery after the impact of the atmospheric […]
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MSO of Puerto Rico to pay for 4 neurosurgery residencies
June 25, 2021
Integrated healthcare system MSO of Puerto Rico announced it will cover the costs of transferring four resident neurosurgery physicians to the US mainland, to facilitate the completion of their residency requirements. “Puerto Rico needs more health professionals who can serve the population, particularly the elderly. Undoubtedly, neurosurgeons are vital specialists, responsible for the study, diagnosis, […]
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Messer Gas marks 2nd anniversary in Puerto Rico with plans to boost exports
June 25, 2021
Messer Gas Puerto Rico, a subsidiary of Messer Américas, an industrial gas provider, is marking its second anniversary in Puerto Rico with plans to increase its exports throughout the region. David García, general manager for Puerto Rico and the Caribbean said the short-term goal is to expand its footprint of products and services in the […]
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Dept. of Consumer Affairs activates plan to recover $950K for clients
June 24, 2021
Looking to defend consumer rights, the Puerto Rico Department of Consumer Affairs (DACO, in Spanish) is launching several measures to recoup about $950,000 from businesses that have failed their clients, agency Secretary Edan Rivera said. During a press conference, the government official said among other steps, the agency will disclose the names of businesses monthly […]
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COR3: 300+ permanent reconstruction projects completed with FEMA funds
June 24, 2021
Municipalities, government agencies and nonprofit organizations in Puerto Rico have completed 337 permanent works projects with funds allocated under the Federal Emergency Management Agency’s Public Assistance program, the Central Office of Recovery, Reconstruction and Resiliency (COR3) confirmed. “FEMA has obligated more than $24 billion under the Public Assistance program, including more than $18 billion for […]
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Porsche forum: Puerto Rico on track to become ‘smart, sustainable’ island
June 24, 2021
During the most recent Porsche NEXT: Digital Innovation Forum, panelists concluded that Puerto Rico is “on the right track” to becoming a smart island that integrates renewable energy, sustainable architecture, electric vehicles, and environmentally friendly infrastructure. To fully achieve this objective, Puerto Rico must have a smart electrification network, have greater access to internet with […]
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Op-Ed: Are corporate America’s boardrooms diverse and inclusive?
June 24, 2021
Public discussion and social movements like Black Lives Matter might suggest there has been great progress in terms of diversity and inclusion in corporate America’s boardrooms. Let’s take a look at what a recent study shows. According to the 6th edition of the “Missing Pieces Report,” conducted by the Alliance of Board Diversity (ABD) in […]
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Liberty Puerto Rico relaunches new Liberty Go app
June 24, 2021
Liberty Puerto Rico announced it is relaunching its Liberty Go application, which is now available at major app stores for its television customers and at no extra cost. The redesigned app, which had been previously available in a Beta version, has now been upgraded to fix some bugs and add extra enhancements. It replaces the […]
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Puerto Rico’s construction industry facing challenges in recovery process
June 24, 2021
The island’s construction industy continues to face challenges that could affect reconstruction efforts and the government’s ability to maximize the potential of federal funds available for repairs related to the 2017 hurricanes and 2020 earthquakes. Umberto Donato, president of the Puerto Rico Chapter of the Associated General Contractors of America (AGCPR), said during the group’s […]
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Oriental launches new $800K institutional campaign
June 24, 2021
Financial institution Oriental recently launched its new institutional advertising effort, using the “Sí puedo” (“Yes I can”) slogan, which seeks to celebrate the accomplishments of its clients, who testify to the impact the bank has had on their lives. The campaign carries an investment of some $800,000 and includes 30-second spots for TV, as well […]
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Liquidity of Puerto Rico’s banks up $16B in 1Q21, Financial Stability Index says
June 23, 2021
The Financial Stability Index of commercial banks in Puerto Rico, prepared by Estudios Técnicos Inc., shows a strengthening in the banking industry this year, mainly due to an improvement in its liquidity and increases of $16 billion in deposits in the first quarter of 2021. “The index increased from 0.52 in the first quarter of […]
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Gov’t sponsoring job fair seeking 4K restaurant workers
June 23, 2021
The Department of Economic Development and Commerce (DDEC, in Spanish), through its Labor Development Program, will be holding a job recruitment fair to fill 4,000 restaurant jobs, the agency announced. The event — organized in collaboration with the Puerto Rico Restaurants Association (ASORE, in Spanish) and the Department of Labor and Human Resources— will take […]
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$4M improvement project in Camuy to take a year to complete, PRASA confirms
June 23, 2021
The Puerto Rico Aqueduct and Sewer Authority confirmed that the $4 million in upgrades underway at the Quebrada filtration plant in the northern town of Camuy will be completed in about a year. PRASA President Doriel Pagán said the project calls for optimizing the water treatment process, providing an increase in clarification, filtration and disinfection […]
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