Liberty customers give $96K to help 2K Puerto Rico high schoolers finish semester
July 29, 2020
Liberty Puerto Rico customers donated $96,450 to Liberty Foundation, making it possible for 2,000 public high school students in the island’s southwest region to finish the semester through the “Give a Child the New Virtual School” project The money was raised in response to a call that Liberty made to its customers to donate the […]
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Oriental reports $20.2M in net income for 2Q20, capitalizes on tech during pandemic
July 27, 2020
OFG Bancorp, the parent company of Oriental bank, reported net income available to common shareholders totaled $20.2 million or $0.39 per share fully diluted, for the second quarter ended June 30. As other banks did, Oriental “faced a number of Covid-19 pandemic related challenges during the second quarter, but acting promptly and with foresight, we […]
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POP’D Shop specialty bubbly drinks poised to enter Puerto Rico market
July 27, 2020
Puerto Rico may soon have a new player in the specialty carbonated drinks category, with the launch of The Pop’d Shop soda brand, a product manufactured by a startup currently participating in business accelerator Parallel18’s Generation 8 cohort. Company founder Mark Wieder said the handcrafted soda pop line — which features four different flavors: citrus, […]
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World Central Kitchen announces 5th round of grants in Puerto Rico
July 27, 2020
World Central Kitchen announced its fifth round of grants in Puerto Rico through Plow to Plate, the organization’s food security and resilience program that provides direct financial support to small farmers, fishermen, and food businesses. The subsidies granted support small businesses related to food production in an effort to regenerate their long-term capacity for the […]
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Caño Martín Peña infrastructure project preselected for $66M in mitigation funds
July 27, 2020
The Paseo del Caño Sur Project in Israel-Bitumul was preselected by the Central Office of Recovery, Reconstruction and Resiliency, known as COR3, to access federal funds from the Hazard Mitigation Grant Program- Section 404 of the Federal Emergency Management Agency. If selected, the Paseo del Caño Sur, which requires an investment of $66 million, would […]
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Op-Ed: Communicating effectively in the age of COVID-19
July 27, 2020
Businesses have been caught off-guard by the arrival of the novel coronavirus, most of them completely unprepared for its effects. Virtually overnight, the virus has thrown both our economy and our daily lives into disarray. Government restrictions enacted to halt the rapid spread of the virus have paralyzed large swaths of the economy, leaving thousands […]
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Gov’t unveils $34M Diego Village multifamily housing complex in Río Piedras
July 27, 2020
Puerto Rico and federal government officials unveiled plans for the De Diego Village, a $34 million affordable and multifamily housing complex to be located in the Río Piedras urban center that will include a commercial area to promote the revitalization of the once active area of San Juan. The investment includes $18.1 million in Community […]
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Puerto Rican startup ZERO Damage to start shipping ready-to-assemble gazebos
July 27, 2020
Puerto Rican startup ZERO Damage announced it will begin shipping ready-to-assemble flat pack building kits for two types of outdoor gazebos and a greenhouse starting in August. The kits are the result of two years of research and development of an unwelded connection system that allows people to install steel frames without requiring screws. Next […]
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UPR-Mayagüez gets $750K to build Tropical Animal Reproduction Research Center
July 27, 2020
The University of Puerto Rico Mayagüez Campus (known as RUM) recently received a $750,000 grant from the Puerto Rico Agriculture Department to develop Tropical Animal Reproduction Research Center (CIRAT, in Spanish), under the School of Agricultural Sciences’ Agricultural Experimental Station. The Center, an idea created by a group of multidisciplinary researchers from the School of […]
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$200M LoopLand Hotel breaks ground in former Roosey Roads Naval Base
July 24, 2020
Construction of the LoopLand Hotel, a $200 million property that will become the first hotel that will open on the former Roosevelt Roads Naval Base in 2022, was announced Thursday. The proposal presented by the company behind the project, Brillembourg Group, calls for redeveloping about 750 former military homes on the former base in Ceiba […]
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Popular Inc. reports net income of $127.6M in 2Q20
July 24, 2020
Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $127.6 million for the quarter ended June 30, 2020, a 25% drop from the $171.1 million on record for the same quarter in 2019, but a significant jump from the $34.3 million reported for the first quarter of the year. For […]
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Pall Life Sciences invests $10M in Fajardo plant
July 24, 2020
Pall Life Sciences Puerto Rico, LLC announced the $10 million expansion of its plant in Fajardo, where it manufactures filters for bio-pharmaceutical applications. The company has been doing business in the eastern town of Puerto Rico for 46 years, where it will begin the construction of a new warehouse that will allow, among other things, […]
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Study: Co.’s in Puerto Rico embrace hybrid work trend during pandemic
July 23, 2020
A hybrid model that combines office work and remote work is the predominant trend among companies in Puerto Rico during the COVID-19 pandemic, according to a survey conducted this summer by Puerto Rican consulting firm Retention Strategies. The results showed that only a third (32%) of the companies surveyed have managed to fully reopen their […]
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Discover Puerto Rico: In-person group events won’t be back until ’21
July 23, 2020
The rise in COVID-19 cases has caused the cancellation or postponement of most in-person group events to at least 2021, Discover Puerto Rico, the island’s destination marketing organization, confirmed. “There was optimism in the early days of the pandemic that live meetings would resume in the fall. However, planners are now anticipating it will be […]
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Applebee’s invests $1.6M into 8th location in Puerto Rico, in Montehiedra
July 23, 2020
Grupo Colón-Gerena, the franchise holder for Applebee’s casual dining restaurants in Puerto Rico, announced the opening of the chain’s eighth location, near the Montehiedra Outlet center. The new eatery opened its doors recently, following a $1.6 million investment that will also create 169 new jobs, the company said. Due to the timing of the opening, […]
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