Banco Popular to support commercial customers affected by earthquakes
February 12, 2020
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 […]
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P.R. Open golf tourney to hold 12th edition Feb. 17-23
February 12, 2020
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, […]
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Bankruptcies down 2.3% year-over-year in Jan., with Ch. 13 leading
February 11, 2020
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 […]
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Financial awareness competition focuses on eco-friendly practices
February 11, 2020
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 […]
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OBoard reaches deal with P.R. creditors to restructure $35B in debt
February 10, 2020
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 […]
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CBP seizes $4.2M in counterfeit goods in January, including fake $100 bills
February 10, 2020
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, […]
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SBA announces funding opportunity through State Trade Expansion Program
February 10, 2020
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 […]
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Spirit Airlines exec: P.R. market ‘doing quite well’
February 7, 2020
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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P.R. hotels develop special packages for tourists
February 7, 2020
To incentivize tourists to visit our island, destination marketing organization Discover Puerto Rico, and the Puerto Rico Hotel & Tourism Association, have been working with hotels around the island to develop special packages. A total of 17 hotels have joined this attractive initiative to encourage travel to the island. The packages feature different offers, some […]
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FEMA includes 9 more P.R. towns as eligible for individual assistance
February 7, 2020
Nine more municipalities that were affected by the earthquakes that began Dec. 28, 2019, in southwest Puerto Rico have been designated as eligible for Federal Emergency Management Agency’s Individual Assistance program. At the request of the government of Puerto Rico, FEMA extended eligibility for Individual Assistance to Arecibo, Ciales, Hormigueros, Juana Díaz, Las Marías, Mayagüez, […]
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Op-Ed: If we’re not sustainable, we’re not viable
February 7, 2020
In Puerto Rico we have a long way to go to become a sustainable island, but the reality of what we are living on a daily basis is urging that we hurry. Sustainability is not a whim. Sustainability is synonymous with equality, and equality always means economic growth. At this point we can all agree […]
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Mayagüez-born Tabacalera Falto mark 25 yrs. as premium cigar label
February 7, 2020
Mayagüez’s cigar company Tabacalera Falto has launched two new cigar blends this year to mark its 25th anniversary as the only label from Puerto Rico to produce artisanal ultra-boutique premium cigars. Luis J. Falto, president of Tabacalera Falto — owner of the La Garita Cigar Co. and Cigarros Falto brands — announced that its new […]
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Boy Scouts of P.R. celebrate 91 yrs. of building values, leadership
February 7, 2020
The Council of The Boy Scouts of Puerto Rico celebrating its 91st anniversary in Puerto Rico, continuing to focus on the alternate education of developing global character and values through their “Life for Learning” programs. The organization believes values and leadership education are key in the development of children and young people ages 6 to […]
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FCC lays down rules to invest $692M in P.R./USVI broadband, voice networks
February 6, 2020
The Federal Communications Commission’s Wireline Competition Bureau established the procedures for its investment of up to $691.2 million over the next 10 years to support the deployment of “advanced, hardened” broadband and voice networks in Puerto Rico and the U.S. Virgin Islands. This investment will help ensure that those living in Puerto Rico and the […]
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FEMA assigns $14.3M to restore Cuartel de Ballajá in San Juan
February 6, 2020
The Federal Emergency Management Agency recently obligated nearly $14.3 million in federal funds to the Puerto Rico State Historic Preservation Office for permanent work to restore the Cuartel de Ballajá in Old San Juan. The work to be completed includes electrical repairs, removal and replacement of wood windows, stain-glass windows and wood doors, as well […]
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