Gov’t earmarks $8M to refund Puerto Rico co’s for COVID-19 expenses
April 9, 2020
Given with the challenge that employers in Puerto Rico are facing due to the health emergency caused by the COVID-19 pandemic, the Department of Economic Development and Commerce is earmarking $8 million in federal funds to reimburse up to 160 employers for certain expenses. Economic Development Secretary Manuel A. Laboy Rivera said the funding will […]
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Aon study: Company directors and officers facing ‘unprecedented times’
April 9, 2020
Company directors and officers (D&O, for short) are facing “unprecedented times,” by not only having to manage a whirlwind of change and disruption in their business models as factors such as technology, changing buyer behaviours, socio-demographic shifts and climate change begin to exert their influence, but they’re also being confronted by the global spread of […]
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Puerto Rican Endowment for the Humanities to grant $500K to cultural organizations
April 9, 2020
The Puerto Rican Endowment for the Humanities will grant $500,000 to cultural organizations that have been economically affected by the COVID-19 emergency. These funds are available due to a special allocation from the National Endowment for the Humanities (NEH), Endowment for the Humanities Executive Director Margarita Benítez said. “The $500,000 grant to the Puerto Rican […]
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Puerto Rico Bankers Association warns about COVID-19-related fraud schemes
April 9, 2020
The Puerto Rico Bankers Association is urging residents to stay “informed and alert” to the various fraud schemes that have arisen related to the coronavirus COVID-19 pandemic. Additionally, the trade group is emphasizing the importance of learning how to properly manage these schemes to protect personal and financial information. Scammers have taken advantage of the […]
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Puerto Rico Public Health Trust opens call for funding of COVID-19 research
April 9, 2020
The Puerto Rico Public Health Trust, a program created by the Puerto Rico Science, Technology and Research Trust, announced a request for proposals for local researchers working address the public health challenges in the face of the COVID-19 epidemic, among other issues of public health relevance that affect local communities. The call closes April 24 […]
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JetBlue consolidates service in 5 U.S. airports to reduce ‘excess flying’ for 8 weeks
April 9, 2020
JetBlue announced it will temporarily consolidate operations in five major metropolitan areas in the U.S between April 15 and June 10. The revised schedules are aimed at reducing excess flying during a time of unprecedented low demand for air travel while maintaining a critical level of service across the airline’s network for those who absolutely […]
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USDA expands servicing options for guaranteed lenders
April 9, 2020
USDA Rural Development Deputy Under Secretary Bette Brand announced that the agency is expanding servicing options for guaranteed lenders due to the COVID-19 pandemic. USDA is expanding upon the deferral flexibilities it announced Mar. 31, 2020, indicating that guaranteed lenders may also approve and make covered loans under the provisions of Section 1102 of the […]
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Puerto Rico’s economy will take a $4.8B hit from COVID-19 this year
April 8, 2020
Puerto Rico’s economy will experience a net direct impact of some $4.8 billion through the end of 2020 as a result of the measures taken to fight the spread of the COVID-19 virus — which could have been as high as $8.2 billion, had the blow not been softened by local and federal relief packages. […]
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Puerto Rico governor’s office assigned $2.5M in FEMA recovery funding
April 8, 2020
The Federal Emergency Management Agency announced the obligation of an additional $11.4 million in funds for 97 post-Hurricane María recovery and reconstruction projects in Puerto Rico. That amount includes nearly $2.5 million assigned to the Office of the Governor at La Fortaleza in Old San Juan for a number of repairs to the building’s third […]
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Report: Puerto Rico’s COVID-19 crisis will spur opportunities
April 8, 2020
Puerto Rico’s current situation, albeit unfortunate, will bring more opportunities “find niches of economic growth and development” in the medium and longer term. But in the near-term, the island will continue to drag economic challenges present before the COVID-19 emergency. So predicts H. Calero Consulting Group Inc. in its latest edition of its in-house “Economic […]
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Twins Theory to build free e-commerce platform for 2 small businesses
April 8, 2020
Entrepreneurial brothers Jonathan and Joel Cotto, owners of the technology and marketing company Twins Theory based in San Juan, announced they will be selecting two small businesses to develop their online sales platforms for free. “In this time of crisis that the world is experiencing, we should all think about how we can help those […]
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PowerSports to supply personal protection equipment to fight COVID-19
April 8, 2020
Puerto Rican firm PowerSports announced that starting this week it will begin to supply large-scale personal protective equipment and other products related to the COVID-19 emergency, to help meet the needs of the private sector, the health industry and government. “We’ve seen there’s a great need for this type of product for the protection of […]
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Puerto Rico-based co.’s band together to help small businesses, nonprofits
April 8, 2020
Startup accelerator Gener8tor, in a collaborative effort with the Titín Foundation and Causa Local, unveiled an initiative to support small local businesses and nonprofits affected by COVID-19. For a week, small business owners, startups, freelancers and nonprofit institutions will be able to access, free of charge, webinars to guide them in identifying opportunities and available […]
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Puerto Rico Treasury waiting on federal guidelines to cut $1,200 checks
April 7, 2020
The Puerto Rico Treasury Department is waiting on its federal counterpart to issue the guidelines to cut $1,200 checks to eligible island residents as part of the CARES Act. However, the agency announced that it is considering advancing the disbursements after the Financial Oversight and Management Board for Puerto Rico approved the local government’s request […]
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Passengers arrive in Puerto Rico from areas of greatest contagion by coronavirus in the U.S.
April 7, 2020
Passenger flow from the areas of largest spread of the virus in the United States has dropped but has not stopped. Those areas also have the highest concentrations of Puerto Rican residing there. That is coupled with the fact that island airports did not take preventive health measures for weeks and tracing people who were […]
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