Legal group predicts avalanche of foreclosures in P.R. this year
May 16, 2019
Mortgage foreclosures in Puerto Rico are at critical levels, with great repercussions for Puerto Rican society, contrary to the panorama official figures paint, accordig to an analysis from nonprofit organization Legal Help Puerto Rico. Ariadna Godreau-Aubert, executive director of the non-profit organization, explained that “the crisis does not affect all people alike. People suffer as […]
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Caribe Hilton reopens iconic property in San Juan after 20-month hiatus
May 16, 2019
Park Hotels & Resorts Inc. announced that the Caribe Hilton in San Juan reopened today following a $150 million restoration. The 652-room resort was impaired for 20 months after sustaining significant damage from Hurricane María in September 2017. “We’re thrilled to re-introduce the iconic Caribe Hilton to guests and locals alike,” said Thomas J. Baltimore, […]
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P.R.’s new car sales come to a halt in April with a 9.3% Y-O-Y drop
May 15, 2019
The United Automobile Importers Group (known as GUIA for its initials in Spanish) reported a 9.3% drop in sales during April 2019, when compared to the same month last year. The organization that represents the automotive industry in Puerto Rico said the month ended with a total of 7,352 units sold in Puerto Rico in […]
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P.R. small, mid-sized retailers experience 10% Y-O-Y sales increase in March
May 15, 2019
Puerto Rico’s small and mid-sized retailers showed a 10% year-over-year growth in March 2019, when totals exceeded $1.1 billion in sales, vs. $1.06 billion in the same month of 2018. According to data shared by Puerto Rico Trade and Export, the month’s $110 million increase maintained a month-to-month growth trend. In February, the sector reported […]
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Hundreds of students participate in 1st edition of ‘Lemonade Day’ P.R.
May 15, 2019
Hundreds of young entrepreneurs island wide had their first experience creating and operating a business on May 4 during Puerto Rico’s first “Lemonade Day.” More than 750 kids ranging from preschool to high school, signed-up to participate in “Lemonade Day Puerto Rico,” an initiative hosted by the Center for Economic Renewal, Growth and Excellence (CRECE, […]
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Lopito, Ileana & Howie wins New York Film Festival ’19 award
May 15, 2019
Advertising agency Lopito, Ileana and Howie competed against global advertising agencies and won first place in the New York Film Festival 2019 competition, the agency announced. The agency won in the Film Craft category with the “We Have to Talk” campaign for client Queerfest and was finalist in the Branded Content/Entertainment category with the “Food […]
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Rosselló signs Opportunity Zones Development Act
May 14, 2019
Gov. Ricardo Rosselló signed into law today Senate Bill 1147, which establishes the regulatory framework for the development of Opportunity Zones in compliance with the Federal Tax Reform of 2017. The Opportunity Zones created under federal law provide tax benefits to low-income communities in order to achieve their economic development. Puerto Rico, as well as […]
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An Airbnb boutique hotel: Opportunity Zones arrive in Old San Juan
May 14, 2019
By Joel Cintrón ArbasettiCenter for Investigative Journalism The walk is led by Adrian Beales, an Australian sales director for Lifeafar, a company that offers real estate investment options for people from abroad. Behind him is a group of 20 investors. They left El Convento hotel on Cristo Street in Old San Juan after the second […]
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Caribbean Produce Exchange formalizes agricultural trade plan between P.R./NY
May 14, 2019
Consumer and fresh products distributor Caribbean Produce Exchange Inc. announced the visit of New York State Agriculture Secretary Richard Ball to evaluate growth opportunities and validate the strategic alliance agreed between the company and the Government of New York agreed to in 2017. The strategy seeks to achieve an increase in the commercial agricultural trade […]
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Comfort Inn & Suites Levittown invests $600K to upgrade hotel property
May 14, 2019
The owners of the Comfort Inn & Suites Levittown announced the investment of more than $600,000 to remodel the beachfront hotel from top to bottom, including rooms and exterior amenities. Milly Díaz, manager of the 60-room hotel, said the renovation will be done in phases, with a completion date of December 2019. After Hurricane Maria, […]
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DDB Latina Puerto Rico named among ‘Top 10 Agencies to Watch’
May 14, 2019
DDB Latina Puerto Rico, part of the DDB Worldwide conglomerate that has more than 200 offices in 95 countries around the world, was named among the “Top 10 Agencies to Watch” during its most recent global conference in Miami, the agency announced. DDB Latina Puerto Rico was accompanied by colleagues from cities like Chicago, Sydney […]
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Popular Inc. CEO: Promoting P.R. is important, but working on structural issues is a must
May 13, 2019
Doing the work of promoting Puerto Rico beyond its shores is an important task, but the island must continue working on its structural issues so that it becomes a place where doing business works, said Ignacio Álvarez, CEO of Popular Inc. during a recent sit-down with the media. “You can sell something, but if after […]
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P.R.’s small inns launch discount card for summer high-season
May 13, 2019
The Puerto Rico Small Inns Owners Association and the Puerto Rico Tourism Co. announced the launch of the “Visit Paradores Card,” targeting local tourists who flock to local hotels during the peak summer season that begins with the Memorial Day holiday. “This year, we have a better tourism product. After María, we collectively invested more […]
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USDA to host P.R. opioid awareness roundtable on May 15
May 13, 2019
The U.S. Department of Agriculture’s Rural Development program is sponsoring a roundtable to raise awareness on the opioid crisis in Puerto Rico, on May 15 from 11 a.m. to 1 p.m. At the table will be representatives from the University of Puerto Rico Medical Science Campus, Drug Enforcement Agency, The Institute of Research Education and […]
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Liberty Puerto Rico is a ‘highlight’ of parent co.’s LatAm operations
May 10, 2019
After emerging as a reinforced operation in the wake of back-to-back hurricanes in 2017, Liberty Puerto Rico has become one of the “highlights” of its parent company, Liberty Latin America’s regional network. Balan Nair, CEO of Liberty Latin America said after Hurricanes Irma and María, “the business was completely devastated, just like the population on […]
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