Walmart, P&G, Coca-Cola join forces to support Puerto Rico Olympic Committee, delegation
June 10, 2021
In less than two months, Puerto Rico’s Olympic delegation, comprising more than 80 people including athletes, trainers, and technical staff, will start heading to the Olympic Games Tokyo 2020 to represent the island. The Puerto Rico Olympic Committee (COPUR for its Spanish acronym) and the athletes need support, so Walmart has teamed up with […]
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P.R. bankruptcy cases down 18.3% through May vs. same 5-month period in ’20
June 9, 2021
The U.S. Bankruptcy Court for the District of Puerto Rico received 1,718 petitions from January to May, when filings were down 18.3% in comparison to the same five-month period in 2020, according to information provided by local research firm Boletín de Puerto Rico. When broken down into categories, about 711 of those petitions were under […]
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Head of Puerto Rico’s economic dev’t travels to D.C. for meetings
June 9, 2021
Department of Economic Development and Commerce (DDEC, in Spanish) Secretary Manuel Cidre is heading to Washington D.C. this week to attend to “matters of high interest in favor of Puerto Rico’s economic development,” the agency announced. “It’s a loaded agenda, with key people who can be our allies when it comes to advancing our economic […]
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USDA Forest Service supports economic dev’t, forest conservation project
June 9, 2021
Recognizing the economic development opportunity represented by the sustainable recovery of timber in a region increasingly prone to hurricanes, the US Department of Agriculture (USDA) Forest Service (USFS) awarded a grant to the GreenWood organization to provide training opportunities and market access to Puerto Rican workers. William Gould, director of theUSDA Caribbean Climate Hub, said the Wood Innovations […]
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66K Puerto Rico households have signed up for FCC broadband subsidy program
June 8, 2021
The Federal Communications Commission (FCC) confirmed that 65,868 households in Puerto Rico have enrolled in the Emergency Broadband Benefit subsidy program initiated by Congress earlier this year. Since mid-May, more than 2.3 million households in all 50 states, Washington, D.C., Puerto Rico, US Virgin Islands and American Samoa were approved to receive a discount on […]
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MN Investments gets $5M financing from Parliament Capital to grow in Puerto Rico
June 8, 2021
MN Investments, LLC, a real estate company dedicated to the acquisition, renovation and management of multifamily properties, announced that it closed a $5 million financing facility with Parliament Capital Management, LLC that will allow the acceleration of its growth and expansion in the market. Currently, the company has a portfolio of 220 apartment units throughout […]
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Passenger traffic at LMM airport exceeds pre-pandemic levels for May
June 8, 2021
Passenger traffic at Puerto Rico’s main air hub, the Luis Muñoz Marín International Airport (LMM), bounced back in May, when it exceeded pre-pandemic results for the same month in 2019. In its most recent monthly report, Grupo Aeroportuario del Sureste (ASUR), the parent company of Aerostar — which operates the LMM — disclosed that the […]
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Wovenware lands federal patent for synthetic data generation method
June 8, 2021
Wovenware, a nearshore provider of Artificial Intelligence (AI) and digital transformation solutions, announced that the US Patent and Trademark Office has issued it Patent No. 11,024,032 B1. The patent addresses the company’s system and method for generating synthetic overhead imagery based on cluster sampling and spatial aggregation factors of existing data-sets. Wovenware uses the patented […]
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USDA seeks grants applicants to build and improve rural water infrastructure
June 8, 2021
The US Department of Agriculture (USDA) announced that it is accepting Fiscal 2021 applications for grants to create a revolving loan fund to build and improve water and wastewater disposal systems in rural areas. The USDA is making funds available through the Water and Wastewater Projects Revolving Funds Program, said Luis R. García, acting state […]
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Suiza Dairy expands operations, adds to production line to Aguadilla plant
June 8, 2021
Dairy producer Suiza Dairy announced an expansion of its manufacturing plant in Aguadilla to add new state-of-the-art equipment to integrate new products, company executives said. The new products are the result of a two-year expansion at Suiza Dairy’s Aguadilla plant, known as Planta Vida, where in 2019 it unveiled a $42 million upgrade. Since then, […]
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Acai Express investing $2M+ to double its Puerto Rico footprint
June 7, 2021
Acai Express announced plans to significantly expand its locations in Puerto Rico during 2021, to more than double the number of units operated under the brand at the beginning of last year. The company started 2020 with a total of 20 locations. The local franchise has already opened 31 locations in Puerto Rico with the […]
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Puerto Rico community opts for solar-plus-storage resiliency solution
June 7, 2021
[COMMENTARY] The poor condition of Puerto Rico’s electric grid is common knowledge. After Hurricane María struck in 2017, many communities lost power for months. This long outage led to almost 3,000 deaths and an exodus of residents. Still recuperating from the aftermath of María, the southern part of the island was hit by a major […]
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Op-Ed: The great danger of an anti-tourist sentiment, with racist overtones
June 7, 2021
During the past 12 months, I have observed unexpected reactions and behaviors in our people, which may indicate signs of an anti-tourist sentiment with some racist overtones. While there are reports of irreverent and reckless behavior from young African American visitors, our expressions and comments on the news and social media have gone far beyond […]
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El Señorial Plaza sold for $20.4M to undisclosed buyer
June 4, 2021
Retail Value Inc., owner of El Señorial Plaza in San Juan, announced it closed the sale of the shopping center on June 3, for $20.4 million. The buyer was undisclosed, and RVI said the sale amount is “prior to closing costs, prorations and other closing adjustments.” The company used the net proceeds to repay mortgage […]
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$277M+ in FEMA funds driving recovery efforts in Puerto Rico’s southern region
June 4, 2021
There are currently 168 projects underway to rehabilitate the areas and structures that were affected by the 2020 earthquakes along Puerto Rico’s southern region, the Federal Emergency Management Agency (FEMA) said. Projects include allocations for the municipalities of Mayagüez and Ponce. About $185,000 from the agency are earmarked to repair the Castilo Serralés, the Salazar […]
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