First BanCorp. to buy Banco Santander Puerto Rico in $1.1B transaction
October 22, 2019
First BanCorp., parent of FirstBank Puerto Rico, announced the signing of a stock purchase agreement for FirstBank to acquire Spanish bank Banco Santander Puerto Rico in an all-cash transaction worth $1.1 billion. The transaction is subject to receipt of all necessary regulatory approvals and is expected to close in mid-2020. When broken down, the 100% […]
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Oriental CEO says P.R. economy ‘transitioning,’ as co. reports 3Q19 results
October 22, 2019
Oriental CEO José Rafael Fernández believes Puerto Rico has an economy that is “transitioning, from not only the aftermath of [Hurricane] María reconstruction, but also for the last 12, 13 years of economic contraction.” During a call with analysts to discuss its third quarter results, Fernández said while federal funds are trickling in, “there is […]
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Gov’t opens bids for $250M upgrade to San Juan Bay ports area
October 22, 2019
The Puerto Rico Public-Private Partnerships Authority, in collaboration with the Puerto Rico Ports Authority, are seeking bids to repair, design, build, finance, maintain and operate certain marine cruise terminals in the San Juan Bay, with an associated investment of $250 million. The piers in the San Juan Bay that are proposed to form part of […]
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Boston Scientific to sponsor free business devel. course for 10 local co.’s
October 22, 2019
Medical devices manufacturing company Boston Scientific, announced it will sponsor the participation of 10 local business owners in the “Strategic Business Owner” course, in partnership with business development and coaching firm The Growth Coach. The course, designed to help business owners implement the strategies and tools needed to grow their company and reach their potential, […]
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Emergency drill taking place at Luis Muñoz Marín Int’l Airport today
October 22, 2019
Aerostar Airport Holdings, LLC, administrator and operator of the Luis Muñoz Marín International Airport is holding an emergency drill today that will entail the participation of multiple agencies and personnel. The full-scale exercise is planned to start between 9 a.m. and 10 a.m., and will last some six to eight hours, airport executives said. Spirit […]
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Pediatric Hospital Foundation reopens NICU South after $400K upgrade
October 18, 2019
The Pediatric Hospital Foundation reopened the Neonatal Intensive Unit South Ward of the Antonio Ortiz University Pediatric Hospital at the Río Piedras Medical Center, whose roof suffered damage in the wake of Hurricane Maria in 2017, which damaged the interior of the critical care unit for infants and neonates. Thanks to private donors, the repair […]
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More island homes benefit from Weatherization Assistance Program in ’19
October 18, 2019
More local residents are benefiting from the Weatherization Assistance Program in Puerto Rico, where some 259 homes are splitting an investment of $439,446 this year, Economic Development and Commerce Department Secretary Manuel Laboy announced. The current number represents 131 additional homes that will benefit, in comparison to those on record for the years 2017 and […]
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Wunderman Thompson Puerto Rico opens for business
October 18, 2019
WPP announced the launch of Wunderman Thompson Puerto Rico, a new product integration firm belonging to advertising agency J. Walter Thompson and global digital business company Wunderman. The new business aims to strengthen capacities in creativity, technology, data and strategy. It is directed by a new generation of executives whose careers “combine the capabilities and […]
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Allergy and Immunology Summit slated for Oct. 26
October 18, 2019
Seeking to educate local allergy doctors in the most advanced practices and treatments, the Puerto Rican Association of Allergy Physicians (AMPA) will host the Allergy and Immunology Summit Oct. 26, at the Embassy Suites Hotel in Isla Verde. “Research from the U.S. Centers for Disease Control and Prevention shows that allergies in children, for example, […]
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Plaza Palma Real promotes the development of local entrepreneurs
October 18, 2019
As part of its reopening, Plaza Palma Real in Humacao announced the creation of the “Develop in Palma” program, which seeks new or existing business proposals from local entrepreneurs to develop them and encourage their entrepreneurial growth. “Develop in Palma” is a program aimed at small and medium-sized businesses interested in developing or expanding strategically, […]
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Walmart invests $6.5M to remodel Supercenter in Canóvanas
October 17, 2019
Retailer Walmart announced that as part of its commitment to job creation and retention, the support to local industry and the promotion of commercial activity, it has invested $6.5 million in the remodeling of its Supercenter in Plaza Canóvanas. “We have been serving Puerto Rico for 27 years and contributing to its socioeconomic development,” said […]
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New Energy Consultants files for Ch. 11 bankruptcy owing $9.8M+
October 17, 2019
New Energy Consultants, a Puerto Rico-based company founded in 2007 dedicated to the design, installation, sale, financing and purchase agreements of solar systems for residential, commercial and industrial customers, has filed for Chapter 11 bankruptcy protection, citing more than $9.8 million in debt. According to the filing, the extensive list of creditors includes several major […]
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Allegiant Airlines confirms 5-yr. maintenance partnership with Lufthansa
October 17, 2019
Lufthansa Technik Puerto Rico (LTPR), based in Aguadilla, will provide maintenance services to Allegiant Airlines, which confirmed the five-year agreement during a visit to the facility. During the event, participated by Lufthansa Group and Puerto Rico government executives, it was announced that Allegiant will have its A320 aircraft fleet serviced by LTPR technicians. “LTPR is […]
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Animus to unite 35+ local, int.’l speakers at its upcoming Nov. 15 conference
October 17, 2019
Animus, the largest women’s personal, professional and entrepreneurial development platform, will host its annual summit on its fifth anniversary, providing thousands of participants with valuable tools to grow and maximize their lives, careers and community. This year’s Animus will take place Nov. 15 at the Puerto Rico Convention Center. In five years, Animus, created by […]
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Bureau of Economic Analysis says P.R.’s data now ‘in line with the rest of the world’
October 17, 2019
The U.S. Department of Commerce’s Bureau of Economic Analysis is working on establishing a clear picture of Puerto Rico’s economy, and laying down a uniform methodology in line with U.S. mainland states and territories, countries across the world. In this episode of “Dollars & Sense,” Kristy Howell, economist with the BEA, provides more insight on […]
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