Triple-S Management to go private if sale to FL-based Guidewell closes
August 25, 2021
The $900 million acquisition of Triple-S Management Corp. by Florida-based Guidewell Mutual Holding Corp. will take the Puerto Rican insurer from a publicly traded to a private company, if the transaction is consummated in 2022. During a news conference with reporters a few hours after announcing the all-cash deal, Triple-S Management CEO Roberto García-Rodríguez said […]
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Pharma co. Romark waiting on FDA approval of COVID-19 treatment
August 25, 2021
Research-based pharmaceutical company Romark Global Pharma has completed a clinical trial that showed that a tablet it is manufacturing at its Manatí plant can prevent about 80% of hospitalizations caused by COVID-19 in high-risk patients, company CEO Marc Ayers confirmed. “We submitted data to the Food and Drug Administration in April and we’re now waiting […]
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Execs. named to positions in entertainment, real estate, automotive sectors
August 25, 2021
This week’s edition of Climbing the Corporate Ladder features new executive appointments across Puerto Rico’s entertainment, real estate, and automotive industries. Ticketera announces high-ranking appointmentsRicardo Aponte-Yunqué, one of the founding partners of Puerto Rican firm Ticketera, announced the appointments of Eduardo Cajina as Chief Operating Officer and Héctor Agosto as Chief Financial Officer. The professionals […]
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El Yunque National Forest, 5 nonprofits sign MOU for promotional projects
August 25, 2021
El Yunque National Forest and a coalition of five nonprofit organizations signed a Memorandum of Understanding (MOU) to collaborate on several projects that facilitate community empowerment, shared stewardship, conservation, and co-management of natural resources, as well as promotion of tourism and economic activity in the northeast region. El Yunque National Forest Supervisor, Keenan Adams, explained […]
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Skootel offers university students 30% discount to mark 2-yr. anniversary
August 25, 2021
Local company Skootel announced that starting Sept. 15, 2021 it will extend a 30% discount on the cost per minute of travel to university students to mark its two-year anniversary. The discount means that instead of paying $0.28 cents per minute of the rental fee for the scooter vehicles, users would pay approximately $0.20 cents. […]
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Fusion Farms vertical indoor aquaponic farm ‘paving way to food security in Puerto Rico’
August 24, 2021
On the western side of Puerto Rico, an innovative agribusiness company with ample growth projections aims to bring about the island’s food sovereignty and security by becoming a reliable source of fresh, nutritious food and eliminating the reliance on sub-par food imports. Fusion Farms, Puerto Rico’s first and only hurricane-protected vertical indoor aquaponic farm developer […]
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Independent rental property owners, operators launch Viva Puerto Rico alliance
August 24, 2021
Puerto Rico’s short-term rental property owners and operators have come together under the Viva Puerto Rico alliance to unite and represent the segment, organizers said. VPR seeks to “give a voice to its diverse membership by providing formal representation, education, and resources for these types of accommodations — seeking to provide quality hospitality to guests, […]
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Flow Financial to open this week following $250K investment
August 24, 2021
Flow Financial & Consulting Group — a new licensed consulting, advisory and brokerage firm — will open for business Aug. 26, following a $250,000 initial investment investment. The firm, which is licensed by the Office of the Commissioner of Financial Institutions (OCIF, in Spanish), focuses on originating, documenting, and presenting cases for commercial and personal […]
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BLS data shows stable employment levels in Puerto Rico due to startup growth
August 24, 2021
The island’s employment levels are stabilizing due to the fast growth rates of startups across business sectors, the US Bureau of Labor Statistics data collected by the Puerto Rico Economic Development Bank shows. The local agency’s Center for Economic Studies suggests that there has been improvement, since in 2020 the levels approached pre-pandemic averages during […]
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Caguas partners with Google my Business to benefit town’s small operations
August 23, 2021
The Municipality of Caguas announced the integration of the town’s small and medium-sized businesses into the Google My Business platform to guarantee greater visibility for them in the digital universe, in addition to boosting the city’s economy. Mayor William Miranda-Torres said the initiative’s goal is to increase sales for municipal businesses by 1%, which would […]
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Ag. Dept. announces more than $9M for Regional Incentive Program
August 23, 2021
The Agriculture Department announced that more than $9 million has been assigned for the Regional Incentive Program, through which farmers will be able to increase and maximize agricultural production on the island. The funding will be available until Oct. 31 through agency’s regional offices as established by Administrative Order 2021-27A. “We have maintained a firm […]
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Pierluisi unveils design plans for new $56M hospital in Vieques
August 20, 2021
Gov. Pedro Pierluisi unveiled the concept and timeline for what will be a new full-service hospital on the island municipality of Vieques. The cost of the project that will break ground by year’s end has an associated investment of $56 million. The facilities will be constructed in phases starting in 2022 and finishing in 2024, […]
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Op-Ed: The cryptocurrency bubble: It’s not if, but when it bursts
August 20, 2021
When will the bitcoin speculative bubble burst? Like all speculative investment euphoria bubbles, there is a time when a herd of investors enamored with huge returns will begin to invest or consider investing in asset classes they don’t fully understand or comprehend. Such is the case with bitcoin, which is the name of the most […]
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Economic Activity Index reaches max level of 118.9 points in June
August 20, 2021
Puerto Rico’s Economic Activity Index (EDB-EAI) reached a maximum level of 118.9 points, a number that represents a year-over-year increase of 8%, Economic Development Bank President Luis Alemañy confirmed. “This is the fourth year-over-year increase after 12 consecutive decreases. If compared to the previous month, the EDB-EAI growth rate decreased 0.5%. The interannual results reflect […]
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7 Eagle Group Caribe gets $6.6M to launch cybersecurity operation
August 19, 2021
Technology services company 7 Eagle Group Caribe ViPR-SOC (7EGC) will be the first “Quantum-Resistant” cybersecurity operation in the United States and Puerto Rico and will be established in the island starting in the first quarter of 2022. As part of its upstart, the firm received $6.6 million in incentives which will be directed toward construction, […]
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