OCIF orders P.R. financial institutions to report quake-assistance efforts
February 6, 2020
The Office of the Commissioner of Financial Institutions (OCIF, in Spanish) released a Circular Letter requiring Puerto Rico’s financial institutions helping customers affected by the recent earthquakes to report on their efforts. In the document, the regulatory body orders mortgage lenders and services specifically to file monthly reports of the steps they are taking to […]
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Study confirms P.R. debt restructuring leading to new unsustainable payments
February 6, 2020
One year after Judge Laura Taylor Swain approved the agreement on the Sales Tax Financing Corp. (COFINA, in Spanish) bonds which, with the consent of a majority of the members of the Puerto Rican legislature, was presented by the executive and the Financial Oversight and Management Board to the bondholders, a study by economist Daniel […]
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Op-Ed: Who will fix this?
February 6, 2020
This week, a federal jury returned a guilty verdict against the former mayor of Gurabo for extorting $125,000 from a government contractor in exchange for paying eight outstanding invoices for services previously rendered. Last week, the Financial Oversight and Management Board for Puerto Rico (FOMB) reminded the government that a recent executive order setting aside […]
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Airbnb: 100K bookings in 5 weekends in P.R. generate $19M for hosts
February 6, 2020
Travel accommodations platform Airbnb confirmed that some 100,000 visitors booked through its platforms for stays in Puerto Rico during five weekends in 2019, generating more than $19 million for local hosts. The weekends of April 19, July 5, 19 and 26 and Dec. 27 received the most tourists and bookings in a space offered on […]
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MCS partners with retailers to offer extra benefits to Classicare members
February 6, 2020
Healthcare service provider Medical Card System Inc. has entered into partnerships with food industry and retail providers in Puerto Rico to offer its Classicare members new special supplemental benefits in 2020, the company announced. So far, more than 65,000 MCS Classicare beneficiaries have completed more than 180,000 transactions through partnerships with Amigo, Econo, Ralph’s, Selectos, […]
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Call opens for 3rd edition of P.R. IT Innovation Awards
February 5, 2020
The Puerto Rico Information Technology Cluster opened the call for the third edition of the Puerto Rico IT Innovation Awards, which recognize the work of individuals and leading companies in the island’s information technology industry. “As a Board, we decided to continue this effort for the third consecutive year, since it has been very positive […]
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2 weeks left to apply for parallel18’s 8th cohort
February 5, 2020
Following a “trailblazing cohort” where 45% of the teams had female leaders, parallel18 just launched an open call for its Generation 8 edition, the nonprofit announced. The San Juan-based international accelerator program that has worked with more than 160 companies in the last four years is actively looking for innovative startups with a global vision […]
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UPR, Justice Dept. head initiative to reduce property registry backlog
February 5, 2020
The Financial Oversight and Management Board for Puerto Rico welcomed today a new initiative to reduce the backlog of property deeds and other documents yet to be registered in Puerto Rico. This initiative was launched with the University of Puerto Rico and the Department of Justice. The new program, designed to tackle more than 400,000 […]
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P.R. Chamber of Commerce director chosen for ‘Committee of 100’
February 5, 2020
The U.S. Chamber of Commerce recently selected Miguel Vargas, executive director of the Puerto Rico Chamber of Commerce, to take part in its Chamber of Commerce ‘Committee of 100.’ He is one of five private-sector leaders recently inducted to advise the U.S. Chamber’s board of directors, enhance lobbying and coalition work, recommend programming, and strengthen […]
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Airbnb extends ‘Open Homes’ program through Feb. 9 after earthquakes
February 4, 2020
Airbnb announced it has extended its Open Homes program activation through Feb. 9 to help people affected by the recent earthquakes in Puerto Rico and relief workers deployed to help. The Open Homes Program connects hosts who are willing and able to provide free housing with people in need of temporary accommodation and disaster relief […]
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P.R.’s manufacturing Purchasing Managers Index drops to 41.9 in Dec.
February 4, 2020
The Purchasing Managers Index for Puerto Rico’s manufacturing sector decreased to 41.9 in December and remained below the threshold level for the ninth consecutive month, according to the most recent report released by the Puerto Rico Manufacturers Association and the Puerto Rico Institute of Statistics. “A reading below the threshold level suggests a contraction in […]
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Leonardo 5th Avenue opening 1st store in FL
February 4, 2020
Puerto Rican businessman and fashion designer Leonardo Cordero-Suria will open his first stateside Leonardo 5th Avenue store in Winter Park, Florida on Feb. 5, he announced. The 49-year-old company known for its male fashions will be located about 10 minutes from downtown Orlando. “Winter Park is a reference in fashion, entertainment and in turn a […]
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Small inns open properties to create classrooms for southeastern area students
February 3, 2020
Members of the Puerto Rico Small Inn Owners and Tourism Association have opened their properties to receive students from schools that have been affected by earthquakes in the southern area of the island. Jesús Ramos, president of the association and owner of the Parador Villas Sotomayor in Adjuntas, said the organization representing small inns, or […]
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Kevane Grant Thornton accounting, advisory firm marks 45th yrs. in P.R.
February 3, 2020
Accounting and business consulting firm, Kevane Grant Thornton, and affiliate of Grant Thornton International Ltd, is marking its 45th anniversary in Puerto Rico. The firm that employs more than 150 professionals on the island, is celebrating a 10.1% year-over-year growth, according to Grant Thornton global statistics report as of September 2019 for the Americas region. […]
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2nd edition of HIRE health industry job fair slated for April 2-3
February 3, 2020
The second edition of the Health Industry Recruitment Event (HIRE) will take place on April 2-3 at the Puerto Rico Convention Center to provide opportunities to those who wish to work in the sector. The convention seeks to connect health industry job seekers with institutions and systems that are looking for employees, including: Doctors; nurses; […]
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