Romark Global Pharma opens $80M manufacturing plant in Manatí
May 9, 2019
Romark Global Pharma, a global biopharmaceutical dedicated to the discovery and development of new drugs to treat infectious diseases and cancer, officially opened its new $80 million manufacturing plant in Manatí. Flanked by Gov. Rosselló administration officials, Romark CEO Marc Ayers said, “with this expansion Romark will manufacture its products Alinia and NT-300, a new […]
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U.S. Dept. of Labor conducting wage survey of P.R., USVI construction projects
May 9, 2019
The U. S. Department of Labor’s Wage and Hour Division (WHD) is conducting a survey of all building, highway, residential, and heavy construction projects active in the U.S. Virgin Islands and Puerto Rico that occurred between July 1, 2017, and Dec. 31, 2018, it announced. The purpose to establish prevailing wage rates as required under […]
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FEMA OKs some $21M in additional post-María recovery grants to P.R.
May 9, 2019
The Federal Emergency Management Agency has awarded about $21 million in additional funds to Puerto Rico to cover costs related to Hurricane María, the agency announced. These awards bring the amount of funds obligated under FEMA’s Public Assistance program to $5.7 billion, it added. The latest grants approved are as follows: Nearly $17.8 million to […]
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Hunter College study reveals 44% drop in P.R.’s school-aged children
May 9, 2019
The Center for Puerto Rican Studies, at Hunter College of the City University of New York released a report confirming a steep decline in the enrollment of children of school age in schools in Puerto Rico. Enrollment between 2006 and 2018 declined 44 percent, from 544,138 students in 2006 to 306,652 students at the beginning […]
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Hera Printing Corp. acquires Oles Envelopes & Forms for undisclosed amount
May 8, 2019
Hera Printing Corp. announced the acquisition of Oles Envelopes & Forms, for an undisclosed amount. The combined company will be known as Hera Envelopes & Forms and will keep its facilities in Bayamón. Oles Envelopes & Forms has more than 40 years established in Puerto Rico and specializes in converting envelopes and continuous forms, becoming […]
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Alivia Health closes acquisition of several subsidiaries, consolidating its network
May 8, 2019
Puerto Rican company Alivia Health announced the completion of the acquisition processes of its subsidiaries Specialty Pharmacy, Compounding Pharmacy and Pharmaceutical Services, becoming the island’s largest local drugstore network, company executives said. The consolidated network now has a new brand image, said Alivia Health President Hari Sabnani. “Our passion and business vision is to put […]
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Op-Ed: Small Business Week spotlights local entrepreneurs and small biz
May 8, 2019
During National Small Business Week, May 5-11, the U.S. Small Business Administration will shine a bright spotlight on our nation’s 30 million small businesses. Entrepreneurs will tell their individual stories of pursuing their dreams, embracing the American work ethic and achieving success. The process of entrepreneurship has never been easy; the SBA is privileged to […]
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Popular Auto Charity Golf Classic nets $371K for 30 nonprofits
May 8, 2019
Popular Auto recently celebrated the 20th anniversary of the Popular Auto Charity Golf Classic with a donation of $371,700 for 30 nonprofit organizations on the island. The event, which achieved a record number of players for a one-day tournament, was held at the Ocean Course and River Course, Wyndham Río Mar, and in the Coco […]
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Brands Of represents Caribbean in ‘World E-commerce Conference’ in Yiwu, China
May 8, 2019
Emerging e-commerce company Brands Of was invited for the second time last month to attend the “World E-commerce Conference” event organized by the government of Yiwu, China. The company held business meetings with organizations interested in importing Latin American products to the Chinese Asian market. In addition, Néstor Taveras, president of Brands Of, offered a […]
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P.R. gov’t releases financial statement for Fiscal ’16 showing $70.3B deficit
May 7, 2019
The government of Puerto Rico released its audited financial statement for Fiscal 2016, as required by the Fiscal Oversight and Management Board, revealing a deficit of $70.3 billion, primarily as a result of debt accrued by public servants’ retirement programs. The programs had a combined debt of $42 billion, at the time, which is the […]
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Op-Ed: Making the Merchant Marine Act of 1920 fair to everyone
May 7, 2019
The Jones Act (Senator Wesley Jones), or the Merchant Marine Act of 1920, was signed into law by President Woodrow Wilson with the intent of having a ready and able merchant marine that could be ready to enter and back up the military in the event of a military conflict. This purpose is still sustained […]
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Serrallés receives ‘World Class Distillery 2019’ award
May 7, 2019
Destilería Serrallés received the “World Class Distillery 2019” award by the World Spirit Award organization based in Austria, the company announced. Annually, this liquor industry guild evaluates spirits producers from around the world in various categories. In the recent competition, 117 distilleries were evaluated in more than 25 countries globally. Serrallés, with its headquarters in […]
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Inventor of 1st email software system Ayyadurai to speak at Clinical Research Summit
May 6, 2019
Scientist, motivational speaker and the inventor of the first email software system, Shiva Ayyadurai, will be on the island this week to participate in the 2nd Clinical Research Summit hosted by the Puerto Rico Consortium for Clinical Investigation. In an exclusive interview with this media outlet, Ayyadurai — who holds four degrees from the Massachusetts […]
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Economic development scarce for P.R.’s micro and small entrepreneurs
May 6, 2019
By Jeniffer Wiscovitch PadillaCenter for Investigative Journalism “To avoid a headache,” Wilfredo Cubero hired a professional authorized by the Permit Management Office to get the Use Permit for his business Piu Bello Gelato, located in Plaza del Sol mall in Bayamón. His biggest setback at the moment is that he does not yet have the […]
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Op-Ed: End of an ERA, reflections of an economist
May 6, 2019
Puerto Rico Gov. Rafael Hernández-Colón died May 2, 2019 after a long battle against leukemia and surrounded by his loving family. He was 82, same age as that of Gov. Luis Muñoz-Marin when he died several decades ago. Guess they will have a lot to chat about now. Well-deserved honors by the people of Puerto […]
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