As a unique proposal and an innovative promise, the Aloft brand opened at El Distrito, said Federico Stubbe Jr., president of PRISA Group, developer of El Distrito, an entertainment center of Puerto Rico, which will soon open at the San Juan Convention District. Aloft San Juan entailed an investment of more than $50 million and […]
Family-owned company South Puerto Rico Towing & Boat Service Inc. is looking to grow this year due to financing totaling $11.7 million approved by FirstBank, the 504 program of the Small Business Administration (SBA), and COFFEC. The company will put the money toward the purchase of a tugboat, improvements to an existing tugboat, and debt […]
Firehouse Subs Public Safety Foundation recently delivered $30,960 in safety equipment for firefighters in Guaynabo and the Aguadilla Municipal Emergency Management Office. With this delivery, the contribution in equipment Firehouse Subs Public Safety Foundation has made to the fire brigades exceeds $128,900. These donations have directly benefited the towns of Mayagüez, Canóvanas and Fajardo, and […]
A coalition of labor unions and businesses has joined to distribute needed tents and other essential supplies to assist Puerto Ricans struggling in the aftermath of the devastating earthquakes that have rocked the island since December. “It is frankly unimaginable for a community to have to confront two natural disasters on top of an economic […]
T-Mobile US Inc. and Sprint announced that after receiving a favorable decision in U.S. District Court for the Southern District of New York the companies are now taking final steps to complete their merger to create the New T-Mobile. “T-Mobile has redefined itself over the past decade as a maverick that has spurred the two […]
Icahn Automotive, an Icahn Enterprises L.P. company, which owns and operates Pep Boys, has completed its acquisition of Tecnicentros Mundial, a six-location automotive service chain in Puerto Rico. The financial terms of the agreement were not disclosed. The Tecnicentros Mundial locations in Caguas, San Juan Centro, Río Piedras, Campo Rico, Dorado, and Ponce will be […]
Panda Express stores throughout Puerto Rico announced its brand fundraiser initiative that benefits local nonprofit organizations, who will receive 20% of the restaurant’s total sales through Mar. 31. Panda Express stores will also provide guidance and assistance for booking and day-of details, Executive Lynnette Vélez said. “We’re committed to the communities that help us thrive, […]
Banco Popular announced that, as part of its efforts to help mitigate problems caused by recent seismic events, it will be offering a series of orientations under the JumpStart program, for commercial customers affected in municipalities included in the Federal Emergency Management Agency’s emergency declaration. The initiative will be allocating funds for any need that […]
The Puerto Rico Open, official PGA TOUR tournament, announced it will hold its 12th edition from Feb. 17-23, 2020, at Coco Beach Golf & Country Club in Rio Grande. Since its inception in 2008, the Puerto Rico Open has contributed to elevate the careers of several PGA TOUR stars, such as: Jason Day, Tony Finau, […]
A total of 496 bankruptcy cases were at the U.S. Bankruptcy Court in Puerto Rico during the month of January, representing a 2.3% drop from the same month last year, according to statistics released by analyst firm Boletín de Puerto Rico. The report shows that Chapter 13 personal reorganization cases prevailed, with 303 cases on […]
This year’s edition of the Financial Awareness Video Contest co-sponsored by the Puerto Rico Bankers Association and the Federal Reserve Bank of New York focused on the importance of implementing eco-friendly practices and the effective use of social networks as part of the strategies to develop and establish a profitable business. For more than 10 […]
The Financial Oversight and Management Board for Puerto Rico has reached an agreement with certain Commonwealth bondholders to resolve $35 billion of debt and non-debt claims via a revised plan of adjustment. The new agreement reduces the Commonwealth’s debt service (including principal and interest from the COFINA Senior Lien bonds) by 56%, to $39.7 billion […]
U.S. Customs and Border Protection (CBP) Officers and Import Specialist seized 138 shipments of counterfeit products during the month of January, including stacks of fake $100 bills. The estimated value of all the counterfeit products seized is $4.2 million, the agency confirmed. “CBP alone cannot stem the tide of counterfeit and pirated goods,” said Leida Colón, […]
The U.S. Small Business Administration announces the opening of the submission period for a funding opportunity through the State Trade Expansion Program (STEP). The purpose of the grant opportunity is to invite proposals for funding from eligible state entities interested in, and capable of providing assistance, guidance and tools to qualified small businesses looking to […]
Low-cost carrier Spirit Airlines confirmed that Puerto Rico is “doing quite well” from an earnings perspective, although the positive results are not attributed to post-earthquake traffic. During an earnings call with analysts to discuss fourth quarter results, Matthew Klein, chief commercial officer of Spirit Airlines said while “we have seen some impact in Puerto Rico, […]
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