Puerto del Rey to host Caribbean International Boat Show
March 18, 2019
For the eighth consecutive year, Marina Puerto del Rey will host the biggest boat show in the Caribbean, the Caribbean International Boat Show. The event, which will be held on March 22-24 at the marina in Fajardo, will feature more than 100 exhibitors. Attendees will be able to find new boats, yachts and nautical products, […]
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Oriental donates $60K to CAP Foundation
March 18, 2019
As part of its commitment to the community, Oriental made a donation of $60,590.65 to the CAP Foundation, during the “Uniendo Cabezas” event, a shave-a-thon in solidarity with pediatric cancer in Puerto Rico. “Following a survey we conducted among our 1,500 employees as part of our ‘Manos Oriental’ volunteer program, we decided to join the […]
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SBA announces National Small Business Week May 5-11
March 18, 2019
The head of the U.S. Small Business Administration Linda McMahon announced that this year’s National Small Business Week will be held from May 5-11, 2019. McMahon will start the week in Washington, D.C., where she will recognize and award outstanding small business owners and SBA Resource Partners from around the nation. She will continue the […]
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GAO report confirms FEMA’s slow response to P.R.’s recovery funding needs
March 15, 2019
A report released Thursday by the U.S. Government Accountability Office confirmed that of the $132 billion that Puerto Rico government officials estimated are needed to rebuild after the 2017 hurricanes, it has only received $4 billion. The Federal Emergency Management Agency —the lead federal agency responsible for assisting Puerto Rico as it recovers — has […]
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P.R.’s new car sales up 13.1% year-over-year in February
March 15, 2019
Puerto Rico’s new car sales reflected a 13.2 percent year-over-year increase in February, the United Automobile Importers Group revealed. The group known as GUIA for its initials in Spanish, represents Puerto Rico’s automotive industry and keeps track of new car sales. February ended with a total of 7,720 units sold in Puerto Rico in contrast […]
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Claro announces 1st fiber optic infrastructure deployment to homes in Guaynabo
March 15, 2019
Telecommunications service provider Claro, in conjunction with the Autonomous Municipality of Guaynabo, announced the availability of Claro’s new fiber optic network, which offers speeds of up to 1,000 megas of bandwidth. In this first stage, the cutting-edge network will benefit some 1,301 families in Guaynabo that will have access to “a stable and superior connection […]
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Somos Solar named semi-finalist in int’l award competition for Ciales project
March 15, 2019
The Somos Solar Foundation was selected as a worldwide finalist of the Microgrid Greater Good Awards for its project to convert Toro Negro into the island’s first solar community, the nonprofit announced. The awards are granted bypublication Microgrid Knowledge to solar energy microgrid projects that can be replicated, that offer a benefit to society and […]
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Executive appointments at Birling Capital, Uber, Cemex
March 14, 2019
High-ranking executives have been appointed recently to positions at Birling Capital, Uber and Cemex, responsible for the Puerto Rico market. Birling Capital appoints CPA Teresita Fuentes as vice chair Francisco Rodríguez-Castro, president of Birling Capital announced the appointment of CPA Teresita Fuentes as vice chair of Birling Capital, member of the executive committee and director […]
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Lexus celebrates 10M vehicles sold worldwide, P.R. included
March 14, 2019
Lexus announced its 10 millionth vehicle sold, a milestone that came shortly after a strong 2018 year-end sales performance, with Lexus achieving “multiple best-ever sales goals around the globe,” company officials said. In addition, the brand that pioneered the world’s first luxury hybrid-electric vehicle in 2005, and offers 11 electrified models globally, surpassed the 1.45 […]
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Burlington reopens final store impacted by Hurricane María
March 14, 2019
National off-price retailer Burlington Stores is marking its10th anniversary on the in Puerto Rico as the reopening of all of its 11 stores on the island in the aftermath of Hurricane María. The Humacao store, which has been closed, will be back in business Mar. 15. “As Puerto Rico continues to rebuild and recover, the […]
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Moody’s: P.R. and its banks will benefit from federal economic analysis
March 13, 2019
The reason for the positive outlook is that Moody’s believes federal estimates of the island’s Gross Domestic Product “will bolster reforms by the island that should encourage unbanked residents to participate in the banking system, thereby spurring loan growth and increasing operating margins.” In its report, Moody’s predicted that the banks that will benefit are […]
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San Juan Mercantile Bank & Trust gets license to operate in P.R.
March 13, 2019
The San Juan Mercantile Exchange Inc. (SJMX) and the San Juan Mercantile Bank & Trust International Corp. (SJMBT) today announced that SJMBT has received its license to operate from the Puerto Rico Office of the Commission of Financial Institutions. The license authorizes SJMBT to operate as an International Financial Entity (IFE) under OCIF’s banking regulations, […]
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Claro offers $10K reward to people reporting copper theft
March 13, 2019
Technology and information company Claro recently announced it is offering a $10,000 reward to people who provide information leading to the arrest and conviction of those responsible for the theft of the company’s copper cables. “Telecommunications are the backbone of the island’s economy and the recurrence of these acts of sabotage places essential services in […]
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IHOP to expand footprint in P.R. with 15 new locations in 5 years
March 12, 2019
The presence of casual dining restaurant IHOP is set to expand exponentially in Puerto Rico with the opening of at least 15 locations in the next five years, at an investment of some $22.5 million, franchise executives said. The chain already has five restaurants in Puerto Rico, with a sixth location slated to open by […]
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Espacios Abiertos will seek review of P.R. Court of Appeals decision
March 12, 2019
In a two-to-one divided opinion, a three-judge panel of the Puerto Rico Court of Appeals ruled to keep information on tax abatements confidential and inaccessible to the public, in a case filed by nonprofit Espacios Abiertos. In doing so,the panel reversed a San Juan Superior Court decision compelling the Puerto Rico Treasury Department to publicly […]
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