WORA-TV in Mayagüez begins restructuring process after Telemundo cancels contract
June 28, 2019
Broadcaster WORA-TV in Mayagüez, owned by Telecinco Inc., announced the start of a restructuring process in response to the decision by Telemundo Puerto Rico not to renew its contract agreement. As this media outlet reported this week, Telemundo notified WORA of its decision to rescind its contract which according to documents obtained from the Federal […]
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Texaco brand returning to P.R. market through rebranding of Puma gas stations
June 28, 2019
Nearly eight years after disappearing from the Puerto Rico market, the Texaco brand is returning through the conversion of Puma gas stations, this media outlet learned. In December 2011 Puma Energy agreed to acquire Chevron’s fuel marketing and aviation businesses in Puerto Rico and the U.S. Virgin Islands, as News is my Business reported. Chevron […]
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MIDA to present ‘united front’ to lobby for P.R.’s inclusion in SNAP program
June 28, 2019
The members of the Chamber of Marketing, Industry and Food Distribution, or MIDA, as the trade group is known for its initials in Spanish, confirmed the need to present a “united front” to get Puerto Rico included in the Supplemental Nutrition Assistance Program. In March, Sen. Bernie Sanders and Rep. Nydia Velázquez introduced a bill […]
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Evertec to enter Chilean payments market through agreement with Banco Santander Chile
June 28, 2019
Evertec Inc. announced the signing of an agreement with Banco Santander Chile under which the Puerto Rican firm will provide acquiring processing services as well as other solutions and regional expertise as Banco Santander enters the merchant acquiring business in Chile. “We’re extremely pleased to provide our products and services to Banco Santander, the first […]
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Workers in P.R.’s metro area earned 42% less an hour vs. U.S. counterparts
June 28, 2019
Workers in the San Juan-Carolina-Caguas Metropolitan Statistical Area had an average (mean) hourly wage of $14.61 in May 2018, about 42% below the United States average of $24.98, the U.S. Bureau of Labor Statistics said Thursday. Chief Regional Economist Martin Kohli noted that, after testing for statistical significance, wages in the local area were lower […]
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Op-Ed: The far-reaching effects if P.R. snubs precedent and the rule of law
June 28, 2019
The current Financial Oversight and Management Board for Puerto Rico is attempting to invalidate more than $6 billion of general obligation bonds and to initiate clawbacks of principal and interest payments to bondholders. It claims that the bonds were issued in excess of a Puerto Rico constitutional debt limit, notwithstanding the Commonwealth’s specific representations to […]
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Congressmen ask for funds disbursement to rebuild electrical grid in P.R/USVI
June 28, 2019
U.S. Congressman Darren Soto (FL-09) led a bipartisan, bicameral letter signed by 47 members of Congress to President Trump’s Administration requesting the disbursement of funds, which were already appropriated, to improve and build a more resilient electric grid in Puerto Rico and the U.S. Virgin Islands. After more than two years since Hurricane María devastated […]
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DirecTV’s ‘Piedra, Papel, Tijera’ project marks 10 ‘Generations of Heroes’
June 28, 2019
The “Piedra, Papel, Tijera” social project from Generation DirecTV is celebrating its 10th anniversary, “contributing to more positive changes at different communities in need with their volunteering program,” the company said. To mark the occasion, more than 30 DirecTV employees volunteered and worked on the restoration of the Crearte Center in Yabucoa. “Piedra, Papel, Tijera” […]
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Telemundo to stop airing signal via WORA-TV in Mayagüez by year’s end
June 27, 2019
Telemundo, one of Puerto Rico’s three main television stations, will stop retransmitting its signal through WORA-TV in Mayagüez before year’s end, this media outlet learned. This would represent a signal interruption for thousands of residents of 28 towns in the south-central-west and northwest regions, where most of the population receives the programming via over-the-air antennas. […]
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P.R. Community Foundation gets $4.1M grant to deploy renewable energy in Culebra
June 27, 2019
Puerto Rico Community Foundation is getting a $4.1 million grant from the U.S. Department of Commerce to install a 100% renewable energy system to support businesses in the municipality of Culebra. The project, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone, will be matched with $1 million in local funds, U.S. Secretary of […]
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$16M Caguas Ambulatory Surgical Center to begin operating next month
June 27, 2019
Caguas Ambulatory Surgical Center, a multiple-specialty ambulatory surgical center in Caguas, will begin operating next month after a $16 million investment, company executives said. Caguas Ambulatory will offer ambulatory surgical procedures in the specialties of Orthopedics, Urology, Ophthalmology, Otorhinolaryngology, and Hand Surgery, among others. This type of facility offers more cost-efficient services and facilitates access […]
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Silver Lion, 4 shortlist for de la Cruz & Associates in Cannes festival
June 27, 2019
de la Cruz & Associates won a Silver Lion at the 2019 Cannes Lions International Festival of Creativity in the Entertainment Lions for Music category for its campaign “Giving Songs.” The participation in the competition also gave DLC four shortlist in four categories, the company said. The winning campaign was an initiative produced to promote […]
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Ford, Lincoln rank among top 5 brands in J.D. Power study
June 27, 2019
Both Ford and Lincoln have ranked among the top five automotive brands in the United States for the first time in the latest J.D. Power U.S. Initial Quality Study due to overall quality improvements that are outpacing the industry, Ford Motor Company said. Now in its 33rd year, the study measures vehicle quality by analyzing […]
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Oriental to buy Scotiabank’s operations in P.R. for $550M; USVI for $10M
June 26, 2019
OFG Bancorp’s subsidiary Oriental Bank will acquire Scotiabank’s Puerto Rico operation for $550 million and its U.S. Virgin Island branch operation for $10 million. Scotiabank’s Puerto Rico and USVI operations will be merged into Oriental Bank and its related businesses. The acquisition is subject to customary regulatory approvals, which will likely take about six months […]
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BurgerFi to open 6 restaurants in P.R., create 200 jobs over next 5 years
June 26, 2019
Florida-based gourmet burger chain BurgerFi announced it will open six new stores across the island and create more than 200 jobs over the next five years. The six Puerto Rico locations will be owned and operated by franchisee Phillip Faigenblat, an entrepreneur who owns 14 Denny’s franchises in on the island. Faigenblat recognized the need […]
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