OBoard looks for out-of-court settlements with government vendors
June 3, 2019
The Special Claims Committee of the Financial Oversight and Management Board for Puerto Rico on Friday launched an informal resolution process that does not require onerous litigation to resolve its recent vendor actions, it announced. The resolution process is designed to resolve the majority, if not all of the vendor claims out of court and […]
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8th edition of P.R. Restaurant Week in full swing
June 3, 2019
The 8th edition of Puerto Rico Restaurant Week, an event designed to allow chefs to showcase their culinary creativity and for foodies to enjoy it, will run through June 10, organizers said. The event enrolls local restaurants that design a fixed-price (“prix fixe”) menu, to draw locals and tourists to their establishments, according to Kinori […]
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Customs: Truthful declarations can help avoid delays during busy summer travel season
June 3, 2019
The Caribbean is among the most favored destinations for travelers during the summer whether flying or enjoying a cruise ship. “While we invite visitors to enjoy all the wonders Puerto Rico, the USVI and our neighboring Caribbean islands offer, we encourage everyone to learn about the CBP process to make their traveling quick and […]
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Op-Ed: Rosselló ignores facts, misleads public about PREPA debt deal, IEEFA says
June 3, 2019
Supporters of the Puerto Rico Electric Power Authority’s proposed debt restructuring agreement — including Gov. Ricardo Rosselló and PREPA Executive Director José Ortiz — have recently argued that the rate increase imposed by the agreement will be mitigated by operational savings that will lower electricity rates. The governor’s and PREPA’s public statements about rate decreases […]
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Georgia’s potential troubles as film mecca could bring windfall to P.R.
May 31, 2019
Puerto Rico’s film industry could stand to win from the controversy stirring in Georgia, where a proposed anti-abortion measure is already causing major Hollywood actors and movie houses to threaten boycotting the state and moving their productions elsewhere if it passes. Georgia is known for the sweeping incentives it offers the film sector, drawing scores […]
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P.R.’s Economic Activity Index up 1.6% Y-O-Y in April
May 31, 2019
Puerto Rico’s Economic Activity Index for the month of April 2019 reflected a 1.6% increase, to 121.3, when compared to the same month in 2018, Economic Development Bank President Gerardo J. Portela said. “The EAI for April 2019 reflects a reduction of 0.1% compared to the result obtained in March this year,” he said. “The […]
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AAFAF places P.R. Council on Developmental Disabilities under receivership
May 31, 2019
The Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF, by its initials in Spanish) put the Council on Developmental Disabilities (CDD), an entity attached to the Puerto Rico Planning Board under receivership. This action is intended correct certain serious deficiencies identified by the U.S. Department of Health and Human Services, which jeopardize approximately $2.5 […]
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Earth Gift opens 2nd medicinal cannabis clinic, launches ‘artisanal’ crop
May 30, 2019
Two years after entering the island’s medicinal cannabis market with the opening of its first location in Carolina, Earth Gift announced the addition of a new clinic in Trujillo Alto and the establishment of a proprietary “artisanal” crop. The new location entailed a $160,000 initial investment, while the crop, which features a unique strain of […]
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3 Puerto Rican ‘paradores’ receive excellence awards from TripAdvisor
May 30, 2019
Three local “paradores,” or small inns, each received TripAdvisor Excellence Awards, the Small Inn Owners Association announced. The Combate Beach Resort, Guanica 1929, and Villas Sotomayor received the “Certificate of Excellence” in recognition of their quality and service in hospitality. The award is granted to establishments listed at the top 10% level in the world […]
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23 P.R.-based companies look to do business in Orlando
May 30, 2019
A delegation of 23 Puerto Rican companies representing various economic sectors will be participating in a multi-sector trade mission to the city of Orlando through May 31, organized by the Puerto Rico Trade and Export Company. The mission seeks to take advantage of the opportunities for expansion and growth offered by the stateside market for […]
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SBA launches ‘Makerspace Training, Collaboration and Hiring’ pilot competition
May 30, 2019
U.S. Small Business Administration Acting Administrator Chris Pilkerton announced the launch of the Makerspace Training, Collaboration and Hiring pilot competition, known as MaTCH. The MaTCH Pilot Competition seeks to address the job skills and placement gaps faced by U.S. businesses by providing funding to create or expand programs with job-specific and soft skills training within […]
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Private-sector professional groups band together to educate on hurricane readiness
May 29, 2019
Seven private-sector organizations representing most sectors of Puerto Rico’s economy have banded together to educate on the importance of hurricane preparedness, just a few days before the start of this year’s storm season. The goal is to inform the public on the steps they should take to be ready to face an emergency or an […]
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Treasury Dept. inaugurates 360 Service Center for small businesses in Guaynabo
May 29, 2019
Puerto Rico Treasury Secretary Raúl Maldonado inaugurated, along with Guaynabo Mayor Ángel Pérez, the town’s first 360 Service Center, specialized in assisting small and mid-sized businesses to complete transactions in a single place. “This collaborative agreement with the municipality of Guaynabo is part of Gov. Ricardo Rosselló’s commitment to provide all the tools to help […]
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Op-Ed: P.R. governor looks to Wall Street cash to fund re-election bid
May 29, 2019
Campaign contributions from law firms to elected officials who issue bonds and appoint lawyers and underwriters — often known as a “pay to play” system — are poison. (Perhaps the best work on this subject is a seminal speech by Arthur Levitt, former chair of the Securities and Exchange Commission, in 1997.) A campaign fundraiser for Puerto […]
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P.R academics represent island in LatAm conference in Boston
May 29, 2019
The Latin American Studies Association (LASA), the world’s largest Congress concerning Latin America and the Caribbean, held its 37th International Congress, LASA2019 in Boston from May 24-27, when more than 5,300 specialized academics from across the globe in disciplines such as sociology, history, cultural studies, art, and more came together. The theme of this year’s […]
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