The Puerto Rico Treasury Department has granted a moratorium on payment plans to U.S. government employees affected by the partial shutdown that is now the longest in history. Treasury Secretary Teresita Fuentes said as a result of the partial shutdown in effect since Dec. 22, 2018, employees that have gone without pay are being given […]
High-speed business internet service provider AeroNet announced it has upgraded its fiber backbone network to 100 Gigabit per second (100G) technology. The upgrade will enable the San Juan-based company to support the current and future bandwidth and connectivity needs of its customers, it stated. “AeroNet takes another step into being in the forefront of technology […]
Puerto Rican grocery store chain Supermercados Econo will its newest location at the Plaza Salinas shopping center today. The retailer invested $8 million in the 28,000 square-foot store. José Vega, partner and owner of the Supermarket Econo in Plaza Salinas, confirmed that “we arrived to be the community’s favorite, while contributing to the economic development […]
OFG Bancorp reported net income of $23.1 million, or $0.45 per fully diluted share, compared to $19.6 million during the third quarter of 2018, or $0.42 per share and the same year-ago quarter, when it made $13.6 million or $0.30 per share. For the year ended Dec. 31, 2018, the financial institution reported net income […]
The Puerto Rico Institute of Statistics is seeking an injunction and declaratory judgment from the San Juan Superior Court challenging the validity of a number of board appointments Gov. Ricardo Rosselló made in late November 2018. The appointments casts doubt on the Institute’s independent criteria and the knowledge and expertise required for Board members to […]
The number of patients using medicinal cannabis to manage their conditions continues to rise and so is the opening of new cannabis clinics that will create thousands of jobs, said Puerto Rico Legal Marijuana President Goodwin Aldarondo. The trade group estimated that in the next six months, 250 new clinics will begin to operate, generating […]
Admitting that transformations are “seldom smooth and many times messy,” Puerto Rico Gov. Ricardo Rosselló confirmed that his administration is working on ironing out the kinks that have come up with the shift into the “short route” connecting Puerto Rico with Vieques and Culebra. In an exclusive interview with this media outlet, Rosselló said moving […]
Caribbean Strong, under the slogan of “Building Resilience with Equity,” is the first post-Hurricane María resilience summit to be held this year, at the Sheraton of the Convention Center Hotel from Feb. 27 to Mar. 1, organizers confirmed. The summit will focus on the lessons learned after the two devastating hurricanes that hit Puerto Rico […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2019/01/NIMB-Podcast-S1E8_mixdown.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSPuerto Rico Gov. Ricardo Rosselló sits down with News is my Business to discuss several pressing economic issues, and the government’s proposed resolutions.
The Puerto Rico Department of Labor and Human Resources announced that the island’s unemployment rate stood at 8.3 percent in December 2018, reflecting a decrease of 2.7 percent versus December 2017. Labor Secretary Carlos Saavedra further said the workforce participation rate rose to 40.8 percent in December, while 15,000 more jobs were reported in comparison […]
The Puerto Rico Bankers Association and the Federal Reserve Bank of New York will host an awards ceremony for the 10th annual “Puerto Rico Financial Awareness” video contest in San Juan on Jan. 25. The contest seeks to promote knowledge of economics, finance, and business by challenging teams of college students in Puerto Rico to […]
Puerto Rico’s new car sales received a significant boost last year, when a total of 107,941 units sold, compared to the 84,080 units sold in 2017, representing a 28.4 percent increase. However, the United Automobile Importers Group, known as GUIA for its initials in Spanish, predicted that this year, the industry will see a reduction […]
The Puerto Rico Public Private Partnership Authority announced the selection of four proponents that have the necessary experience to manage and operate all aspects of the Puerto Rico Electric Power Authority’s electricity distribution and transmission system. P3 Authority Executive Director Omar Marrero confirmed the qualified proponents: Duke Energy Corporation; Exelon Corporation; PSEG Services Corporation; and […]
Washington, DC – The U.S. House of Representatives has approved two proposals authored by Rep. Nydia M. Velázquez (D-NY) aimed at assisting Puerto Rico, as the island continues recovering from economic hardship and historically catastrophic hurricanes. The amendments were approved as part of H.R. 268, a supplemental spending bill that appropriates additional funding for disaster […]
The Dominican Republic and Puerto Rico, where JetBlue is the largest airline to both islands, benefit from tourist spending of more than $1 billion per year — revenue that is directly linked to healthy coral reefs. Furthermore, the Bahamas, Cayman Islands and Puerto Rico receive more than one million visitors per year whose visits are […]
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA