General Contractors: Activating Puerto Rico’s construction industry ‘positive step’
May 4, 2020
The Puerto Rico Chapter of the Associated General Contractors of America (AGCPR) described the reactivation of the island’s construction industry and the 26,000 jobs it represents on May 11 as “a positive step.” “Reopening the construction sector is an affirmative and important step to achieve the necessary balance between the health and economic wellbeing of […]
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P.R. Federal Credit Union ranked 194 on ‘2020 Top 200 Healthiest Credit Unions’ list
May 4, 2020
Puerto Rico Federal Credit Union recently received the classification “2020 Top 200 Healthiest Credit Unions,” granted throughout the United States, where there are more than 5,000 such entities and more than 4,000 banks. To rank, DepositAccounts.com evaluates the financial health of more than 10,000 banks and credit unions in the United States once a quarter. […]
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Enactus Puerto Rico links students, teachers in 3 regions
May 4, 2020
ENACTUS Puerto Rico recently carried out the ConeXión-América program, uniting students and teachers from Puerto Rico, Guatemala and Mexico, for a virtual week-long conference, workshops, and exchange of ideas and projects with business leaders from the participating territories. This initiative was developed by the Enactus Puerto Rico team as part of its contingency plan to […]
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HUD allocates $42.7M to help protect low-income Puerto Ricans impacted by COVID-19
May 1, 2020
The U.S. Department of Housing and Urban Development will allocate $42.7 million in COVID-19 relief funding to help low-income Americans in Puerto Rico residing in public housing, Secretary Ben Carson announced. The funding, made available by the CARES Act will be awarded to Public Housing Authorities (PHAs) across the nation, including Puerto Rico. “HUD has […]
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Puerto Rico Gov. Vázquez extends curfew to May 25, allows gradual reopening of economy
May 1, 2020
Gov. Wanda Vázquez announced the extension of the islandwide curfew to May 25, while allowing a limited reopening of certain industries, businesses and services under specific conditions. In a pre-recorded message, Vázquez said the gradual reactivation of the island’s economy — which has been under shelter-in-place and business lock-down orders since Mar. 16 to fight […]
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Banco Popular receives 127K applications for loan moratoriums
May 1, 2020
Banco Popular de Puerto Rico has received a total of 127,000 moratorium applications, split between auto, personal and mortgage loans, Popular Inc. CEO Ignacio Álvarez confirmed. Of that number, 100,000 are in its own portfolio, and the remaining 27,000 are mortgage loans owned by third-parties such as Fannie Mae, Freddie Mac and the Federal Housing […]
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First BanCorp. reports net income of $2.3M in 1Q20
May 1, 2020
First BanCorp., the bank holding company for FirstBank Puerto Rico (reported net income of $2.3 million, or $0.01 per diluted share, for the first quarter of 2020, compared to $36.4 million, or $0.16 per diluted share, for the fourth quarter of 2019, and $43.3 million, or $0.20 per diluted share, for the first quarter of […]
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FEMA allocates $6.8M to repair Luis A. Ferré Performing Arts Center
May 1, 2020
The Federal Emergency Management Agency has awarded a $6.8 million grant to the Luis A. Ferré Performing Arts Center in San Juan, an iconic cultural center with a 39-year history of history of hosting more than 15,000 events. The grant was assigned in April 24, FEMA said. After Hurricane María, the steps leading up to […]
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Hampton Inn Hotel holds food drive for employees
May 1, 2020
In the midst of the economic crisis caused by COVID-19, the Hampton Inn & Suites San Juan’s management held a food drive for its team members on April 24 to prevent them from having to leave their homes in search of food for their families, the company confirmed. Like many other companies, due to the […]
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Puerto Rico lands ‘air hub’ status from U.S. Dept. of Transportation
April 30, 2020
The U.S. Department of Transportation has granted a waiver to allow foreign air carriers to provide certain expanded cargo and passenger transfer services at Puerto Rico’s international airports over a two-year term, the agency announced. With its decision, Puerto Rico becomes the first U.S. territory in the Caribbean to become a “hub” for foreign air […]
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OFG Bancorp reports $131.3M in 1Q20 revenue, remains well-capitalized in pandemic
April 30, 2020
OFG Bancorp, parent of Oriental bank, reported $131.3 million in revenue for the first quarter ended Mar. 31, 2020, with a strong increase in due to its acquisition of the Puerto Rico and U.S. Virgin Islands operations of The Bank of Nova Scotia (Scotiabank), bank officials said. Upon disclosing its latest results, the financial institution […]
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Science Trust allocates $600K for projects to combat COVID-19
April 30, 2020
The Puerto Rico Science, Technology and Research Trust Grant Program has selected six projects from local institutions with innovative projects to combat the COVID-19 virus on the island, it announced. The program, which was designed to select five winners with a total budget of $500,000, was expanded to include six winners, who split $600,000. The […]
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Walmart PR presents ¡Vive Mejor #EnCasa! virtual wellness fair
April 30, 2020
Looking to continue promoting the stay-at-home call to avoid the spread of COVID-19 on the island, Walmart Puerto Rico organized a virtual wellness fair with a variety of educational and entertainment content for all members of the Puerto Rican families. “¡Vive Mejor #EnCasa! consists of a series of videos through which expert resources on different […]
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Housing Dept. unveils CDBG-DR online registration tool
April 30, 2020
Individuals, organizations or entities that wish to conduct business with the Community Development Block Grant Disaster Recovery Program (CDBG-DR) may register their information and receive notifications about potential business opportunities that are open to the public through a recently launched website. “As part of our efforts to manage recovery funds transparently, we unveil our Procurement […]
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Local startup defies pandemic challenge with BBQ delivery service
April 30, 2020
Contactless delivery of prepared food and the so-called “cloud kitchen” — commercial kitchen without a restaurant location — are concepts that local company Let’s Meat has been practicing since before the pandemic. Since 2018, the Puerto Rican startup has been catering to BBQ lovers, delivering a selection that includes pork ribs, country style chops, pulled […]
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