P.R.’s medical cannabis market on verge of saturation, study shows
October 25, 2019
Local startup Abexus Analytics recently published Puerto Rico’s first “Medical Cannabis Market Saturation Index” that offers details on the local areas with potential market saturation of cannabis dispensaries and how such distribution differs with traditional pharmacies throughout the island. “In Puerto Rico the number of dispensaries, total manufacturing capacity and the number of certified patients […]
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Puerto Rican brand Goya keeps title as ‘most recognized brand’ in annual study
October 25, 2019
Food brand Goya kept its title as Puerto Rico’s most recognized and remembered brand according to the results of the annual “Marcas que Marcan” study commissioned by the Puerto Rico Sales and Marketing Association to Gaither International. The familiar brand garnered 24% of the consumer’s recognition and is followed by Nike and Coca-Cola — which […]
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Solar energy trade group rejects PREPA deal with creditors
October 25, 2019
The Solar and Energy Storage Association of Puerto Rico warned of the “serious consequences” the proposal by Puerto Rico Electric Power Authority creditors that seeks to impose a charge on people installing solar energy systems at their homes or businesses. The group known as SESA said the charge included in the Restructuring Support Agreement between […]
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Firehouse Subs invests $450K to open 13th restaurant in Ponce
October 25, 2019
Restaurant chain Firehouse Subs Puerto Rico announced the opening of its 13th restaurant in Puerto Rico — a 2,000 square-foot location in Ponce. The opening of the new Firehouse Subs store generates 35 direct jobs and entailed a $450,000 investment, company executives confirmed. The new restaurant, located in Reina del Sur Shopping Center, has a […]
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Participants sought for survey on cybersecurity issues for small, mid-sized businesses
October 25, 2019
The U.S. Small Business Administration is working with the U.S. Department of Homeland Security and the Information Technology Coordinating Council to attract respondents to a confidential cybersecurity survey for small and mid-sized businesses. “Cyber-attacks are a growing concern for small business owners and our economy. The SBA is encouraging entrepreneurs to participate in this survey […]
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Tales of the Cocktail Foundation to bring ‘Tales on Tour’ to P.R. in April ’20
October 25, 2019
Tales of the Cocktail Foundation announced that four-day “Tales on Tour” festival will return to Puerto Rico April 19-22 in Old San Juan with Hotel El Convento once again serving as the host hotel. “Tales on Tour” is an annual initiative that partners Tales of the Cocktail Foundation with a domestic or international host city […]
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Popular Inc. CEO: ‘The 3 local banks that will remain will compete fiercely’
October 24, 2019
If the two banking consolidations currently underway in Puerto Rico materialize, after the dust settles, the trio of big financial institutions that will be left will “compete fiercely” for the local market, Popular Inc. CEO Ignacio Álvarez said. While Oriental is moving forward on its acquisition of Scotiabank’s assets in a deal that should close […]
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Census Bureau seeks temporary workers in P.R. to conduct 2020 Census
October 24, 2019
The U.S. Census Bureau launched a national recruitment effort to hire approximately 500,000 temporary workers to help conduct the 2020 Census. Nearly 4,000 local recruiting events are scheduled to take place this week in communities across the nation, including Puerto Rico, where activities will be held through Friday. “We need people to apply now so […]
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Cannabis industry diversifies medical offerings to patients
October 24, 2019
Tropizen, a licensed local cultivator and manufacturer of medical cannabis products, announced the launch of the first locally manufactured line of cannabis tinctures incorporating herbal ingredients and cutting-edge pharmaceutical technology, designed to alleviate the symptoms of a variety of government-approved health conditions. “We carefully researched scientifically proven herbal remedies, many of which are featured in […]
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3Q19 passenger traffic up 5.7% year-over-year at Luis Muñoz Marín Int’l Airport
October 24, 2019
Passenger traffic at the Luis Muñoz Marín International airport was up 5.7% during the third quarter ended Sept. 30, in comparison to the same three-month period last year, Grupo Aeroportuario del Sureste, parent company of the airport’s operator Aerostar, announced. The number references the airport’s recovery following the impact of Hurricane María, which hit the […]
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5 new stores arriving to Plaza Las Américas before year’s end
October 23, 2019
The management of the Plaza Las Américas shopping center announced the arrival of five new stores and the opening of nine new shops that began doing business in recent weeks. The new stores that will join Plaza Las Américas this year are: Reservalife, Jewelz & Co., gef France, Sumaq Silver & Jewelry and Daazh. In […]
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Op-Ed: Demography will dictate the failure of PROMESA
October 23, 2019
Over the last decade, a group of demographers has raised their voices concerning the Puerto Rico’s population decline. Probably the most accessible and comprehensive text on this topic is “Puerto Rico 2000–2010: Más allá del censo” by Raúl Figueroa, Dr. Rosario Rivera-Negrón and Dr. Judith Rodríguez-Figueroa. Here, I will present some demographic trends regarding Puerto […]
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FirstBank CEO says Santander acquisition is ‘transformational for the company’
October 23, 2019
Aurelio Alemán, CEO of First BanCorp., the parent company of FirstBank, explained what the acquisition of Banco Santander’s assets in Puerto Rico will represent for the market and the financial institution he heads. He also went over aspects of the bank’s third quarter results, released a day after the deal was made public.
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DMO confirms double-digit growth in meetings, events from Jan. to Sept.
October 23, 2019
Destination Marketing Organization Discover Puerto Rico revealed that the island’s meeting and events strategy is “putting Puerto Rico back on the map as a preferred destination for the industry.” From January to September 2019, confirmed events for future years reached 197, almost twice as many than those booked in 2018, when 103 events took place. […]
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Puerto Rico Society of CPAs launches ‘Martes de números’ weekly podcast
October 23, 2019
The Puerto Rico Society of CPAs announced the launching of its “Martes de Números” weekly podcast, which will feature different CPA’s and special guests, who will discuss issues of interest and relevance to the profession and the community. “With this new initiative, we fulfill the Puerto Rico Society of CPAs primary mission, which is serving […]
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