Op-Ed: PREPA RSA hurts consumers, perpetuates debt crisis
December 20, 2019
A thorough and data-packed recent report on the potential impact of Puerto Rico’s PREPA debt restructuring plan proves what should be obvious: electricity prices that are already unaffordable will keep rising for the foreseeable future to pay for outstanding debt. The deal does not work for the people of Puerto Rico, will hurt economic recovery, and won’t […]
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AeroNet chooses microwave provider to deliver broadband to Old San Juan
December 20, 2019
Business Internet service provider AeroNet announced it has partnered with Siae Microelettronica Inc. to deliver network infrastructure to provide broadband to the Old San Juan historic district. Faced with the challenges of providing 10Gbps services in the zone, where there is limited fiber availability, AeroNet opted for a multi-band-link wireless solution offering fiber-like capacity, said […]
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FedeCoop invests $3.7M in new headquarters
December 19, 2019
The Puerto Rico Teachers Federation Credit Union (FedeCoop, for its initials in Spanish) recently inaugurated its new headquarters in Río Piedras, for which it invested $3.7 million. During the past 10 years, the institution has had growth that has led it to hire more staff and expand its facilities. The new facilities have a drive-thru […]
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Frontier Airlines, American announce new routes from San Juan
December 19, 2019
Low-fare carrier Frontier Airlines announced four new routes from the Luis Muñoz Marin International Airport to Baltimore, Boston, Chicago and its first international service from San Juan to the airline’s most recent Caribbean destination: Santo Domingo, Dominican Republic. Frontier serves 11 destinations with direct service from San Juan. The new routes were part of a […]
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New car sales show 5% Y-O-Y growth in November, trade group says
December 19, 2019
New car sales for the month of November totaled 10,503 in Puerto Rico, up 5% year-over-year from the 10,001 units sold in the same month in 2018, he United Group of Automobile Importers confirmed. GUIA, as the trade organization is known for its initials in Spanish, said, however, that new car sales so far this […]
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Local ice cream chain Paletados expands into Caribbean Cinemas
December 19, 2019
Puerto Rican ice cream pops maker Paletados will open its sixth location this Saturday at the Western Plaza movie theaters in Mayagüez, through an agreement with Caribbean Cinemas. The ice cream company established in 2017 has maintained sustained growth since its inception, generating more than 90 jobs in the region, executives said. “We’re super excited […]
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Christmas dreams come true for hundreds of children in foster homes
December 19, 2019
The activity dedicated to sports and music took place last weekend at the Guaynabo Municipal Athletic League, when children between the ages of 3 and 18 received gifts gathered during the annual RICOH Classic golf tournament. “Ricoh is a company that always supports the communities where it does business and seeks to impact social welfare […]
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Cuba Libre Restaurant & Rum Bar to open 1st restaurant in P.R. in Jan. ’21
December 18, 2019
Philadelphia-based Cuba Libre Restaurant & Rum Bar will open its first restaurant outside the U.S. mainland at the Plaza Las Américas mall in January 2021, the company announced. The planned 10,000 square foot restaurant will represent an investment of $8.6 million and is expected to create more than 200 new restaurant and construction jobs. Cuba […]
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P.R.’s economic activity index shows slight growth
December 18, 2019
The Puerto Rico Economic Development Bank’s Economic Activity index reached 121.6 in October 2019, a 0.4% increase compared to October 2018, the first positive growth after four year- over-year consecutive declines, and a 0.3% rise when compared to September 2019. The annual comparison is with respect to October 2018, when electricity was restored to those […]
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$1.6M Growponics hydroponic nursery opens in Isabela
December 18, 2019
The Puerto Rico Techno Economic Corridor inaugurated Growponics, a high-technology hydroponic nursery in Isabela following an investment of more than $1.6 million in its first phase, and creating eight direct jobs. The project, designed for planting and harvesting green vegetables, is part of the Finca Explora ecosystem, the island’s first agro-technological incubator located in the […]
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CBP agent, officer recruitment orientation returns to Plaza Las Américas
December 18, 2019
U.S. Customs and Border Protection is recruiting for the positions of CBP Officer, Border Patrol Agent and Air Interdiction and Maritime Interdiction Agents in select localities throughout the continental United States. To answer questions and inquiries, CBP will have an orientation table at Plaza Las Américas, Dec. 16-21. Candidates undergo a rigorous selection process to establish their capacity […]
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Public Housing Administration inaugurates Technology Education Centers
December 18, 2019
With an investment of $ 52,600, Public Housing Administrator William Rodríguez announced the inauguration of two Technology Education Centers in the El Coral and Loma Alta public housing projects in Carolina. The investment is covered with funds from the U.S. Department of Housing and Urban Development and is part of the plan established by the […]
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OFG gets regulatory approval to pick up Scotiabank’s USVI operations
December 17, 2019
OFG Bancorp announced it has received final regulatory approval and related licenses from the U.S. Virgin Islands Banking Board required for its subsidiary, Oriental Bank, to close the previously announced acquisition of Scotiabank’s USVI operations. The approval comes less than a week after the financial institution announced it had received the OK from the Board […]
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Banco Popular scouting for artificial intelligence experts
December 17, 2019
Banco Popular de Puerto Rico is looking for artificial intelligence (AI) experts to optimize the bank’s operations, services and products, using this technology as a guide to create innovative solutions, it announced. In recent years, this talent — which comes from on universities in Puerto Rico and the U.S. mainland such as: the University of […]
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GenTrust to open investment advisory office in San Juan
December 16, 2019
Miami-based registered investment advisory firm GenTrust will open an office in San Juan, to carry out its fiduciary duty to its clients, company officials announced. According to a report published by CityWire, GenTrust handles some $400 million in assets for clients based in Puerto Rico. “Our team has more than two decades of experience servicing […]
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