UPR Humacao campus students take top ‘Financial Awareness Video Contest’ wins
January 29, 2019
The Puerto Rico Bankers Association (PRBA) and the Federal Reserve Bank of New York (FRBNY) recognized the creativity and talent of college students who participated in the most recent edition of the “Financial Awareness Video Contest.” For 10 years, said competition has been well known for motivating college students to develop creative audiovisual pieces about […]
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Grupo Guayacán opens call for 8th I-Corps P.R. cohort
January 29, 2019
Grupo Guayacán Inc. (GGI) announced that it will offer the upcoming eighth cohort of its Customer Discovery Boot Camp, I-Corps Puerto Rico (I-Corps PR), at the Gurabo campus of Ana G. Méndez University (AGMU). This marks the first time that the idea validation program will be offered at this campus, and the second time it’s […]
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Celebrity Summit makes first arrival at Port of Ponce
January 29, 2019
The Celebrity Summit cruise ship made its first visit to the Port of Ponce, bringing 2,216 passengers and 984 crew to the southern town. Its stop pumped $158,000 to the port, and $438,000 to the island’s overall economy given its use of the San Juan pier as its homeport, Puerto Rico Gov. Ricardo Rosselló said. […]
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American Airlines cargo exports from P.R. up 30% in ’18
January 28, 2019
American Airlines Cargo said 2018 was “an exceptional year” for the company, with the division exceeding multiple all-time records in performance, volume and revenue, finishing the year with more than $1 billion in revenue. “The airline moved record volumes of freight and mail across its system in 2018, with volume for the year ending at […]
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New $130M mixed-income housing complex breaks ground in Caguas
January 25, 2019
The Puerto Rico Department of Housing and affordable housing developer, McCormack Baron Salazar, Inc., announced the closing on the financing and start of construction of a $130 million mixed-income housing in Caguas. Located on vacant land that was previously a public housing site, the new community includes housing options that are affordable to families and […]
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Iberia to resume direct Madrid-San Juan service on Mar. 31
January 25, 2019
Spanish airline Iberia will resume its direct route between San Juan and Madrid on Mar. 31 with three weekly flights between Luis Muñoz Marín International Airport on Wednesdays, Fridays and Sundays during the months of April, May, September and October. Those flights are in addition to the daily flights to be offered — except Monday […]
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IEEFA P.R.: New natural gas deal fits same old pattern for choosing contractors
January 25, 2019
Editor’s Note: The following is an analysis by Tom Sanzillo ([email protected]), IEEFA’s director of finance and Cathy Kunkel ([email protected]), an IEEFA energy analyst. It is being reprinted as it originally appeared in IEEFA’s website. The government of Puerto Rico is moving forward with plans to convert two units at the San Juan power plant from […]
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Op-Ed: Is FEMA using flawed indicator in decision-making process in P.R.?
January 25, 2019
For decades, government officers and academia have indicated that the problem for doing research in Puerto Rico has been the lack of access to data. Paradoxically, regarding Puerto Rico, today we find ourselves with statistical independence threatened by political forces and with questionable data analysis produced by some organizations. Is inaccurate data analysis common in […]
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Popular Inc. reports whopping increases in net and adjusted income in ’18
January 24, 2019
Popular Inc. closed 2018 with significant year-over-year increases in its net and adjusted income, according to its quarterly earnings report. For the 12-month period ended Dec. 31, 2018, adjusted net income was $487 million, up 76 percent from the prior year’s adjusted net income of $276 million. Net income for 2018 totaled $618.2 million, a […]
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Public power versus privatized power: The debate in P.R. before and after María
January 24, 2019
By Eliván Martínez Mercado | Center for Investigative Journalism From the inside of a cargo container like the ones used to transport food overseas, the town of Sterling, Massachusetts implements the energy system of the future. The general manager of this power services company, Sean Hamilton, walks with his head protected by a white constructor’s […]
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Economic Activity Index up 21.5% in Nov. 2018 vs. same year-ago month
January 24, 2019
Puerto Rico’s Economic Activity Index showed a 21.5 percent year-over-year growth in November 2018, the government announced. The EAI-PR released by the Puerto Rico Economic Development Bank reached a level of 120.3 in November 2018, showing a decrease of 0.1 percent compared to October 2018. The most recent results mark the third consecutive increase after […]
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P.R. Treasury Dept. grants payment moratorium to furloughed federal employees
January 24, 2019
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 […]
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AeroNet upgrades backbone network to 100g, lights up Miami node
January 24, 2019
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 […]
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Econo opens $8M store at Plaza Salinas shopping center
January 24, 2019
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 […]
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OFG Bancorp reports $23.1M in net income in 4Q18
January 23, 2019
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 […]
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