USDA, SBA announce P.R. Rural Lending Investment Summit, Mar. 7-8
March 5, 2019
The National Rural Lenders’ Roundtable (NRLR), the U.S. Department of Agriculture (USDA) Rural Development and the U.S. Small Business Administration (SBA) announced the 2019 Puerto Rico Rural Lending Investment Summit that will be held Mar. 7-8 at the Condado Plaza Hilton Hotel. The summit will join lenders and stakeholders in the USDA and SBA guaranteed-lending […]
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Popular encourages entrepreneurs to join ‘StartUp Popular’ call
March 4, 2019
Part of the success of any business is to be able to count on capital that supports their growth and keeps the operations solid. In response to that Popular announced its 7th call for funding, business coaching and networking program, StartUp Popular. The application deadline is April 30, 2019. Since its inception, more than 85 […]
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Op-Ed: The Jones Act…Again
March 4, 2019
In a recent issue of News Is My Business (NIMB) an Op-Ed piece summarized a new study on the impact of the cabotage law on Puerto Rico. It is better than all previous ones, according to the co-author of the study, who modestly attributes this to the fact that they interviewed importers and not because […]
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Café Yaucono seeks to motivate Puerto Ricans to create their own business
March 4, 2019
Looking to motivate entrepreneurship in Puerto Rico, Café Yaucono has created an initiative through which it will award two mobile coffee shops that will allow creating a business anywhere on the island. The company has partnered with retailer JF Montalvo for the initiative. Those interested in participating have until Mar. 8 to visit any of […]
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EDB chooses Hacienda Santa Clara as ‘Agricultural Company of the Year’
March 4, 2019
The Puerto Rico Economic Development Bank has selected Hacienda Santa Clara in the town of Yauco as the “Agricultural Company of the Year” by the Minority Business Development Agency as part of the celebration of minority entrepreneur week. “We’re proud that the achievements of entrepreneurs who had the vision of building an innovative company […]
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Metropistas issues $181M in bonds to optimize capital structure
March 1, 2019
Autopistas Metropolitanas de Puerto Rico (metropistas) announced the closing of a $181 million bond issuance to partially refinance a portion of its short-term debt, in what constitutes one of the first bond issuances in the Puerto Rican infrastructure industry since the beginning of the economic recession and the devastation that left hurricane María. The bond […]
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Foundation for P.R. launches talks between nonprofits, gov’t agencies
March 1, 2019
Foundation for Puerto Rico has begun heading the meetings of focus sectors with members of the Whole Community Resilience Program, to define the databases and indicators needed to assess vulnerability in the communities, the nonprofit announced. These collaborative sessions will help examine the needs of all communities in Puerto Rico, with a comprehensive perspective of […]
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Op-Ed: The problem with Vieques/Culebra ferry is 50 yrs of ‘criminal mismanagement’
March 1, 2019
In referring to the unfortunate ferry debacle last weekend resulting in the resignation of Director Juan Maldonado, Vieques Mayor Victor Emeric, was right — the problem is not the misuse of an idle cargo ferry, it’s the 50 years of criminal Maritime Transportation Authority (ATM, for its initials in Spanish) mismanagement that has plagued the […]
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N.Y. Fed President Williams to visit P.R./USVI Mar. 28-29
March 1, 2019
Federal Reserve Bank of New York President John C. Williams will visit Puerto Rico and the U.S. Virgin Islands on Mar. 28-29 to meet with leaders in the local nonprofit, government, and business sectors, the agency announced. The trip will focus on understanding current economic conditions and the continuing recovery efforts in the aftermath of […]
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PayPal, Total enable payments at P.R. gas stations through new mobile app
March 1, 2019
PayPal announced the launch of its partnership with Total Petroleum Puerto Rico, seeking to promote e-commerce in the island and to improve the supply of gasoline for Puerto Rican consumers and make it more efficient. This new service will allow consumers to pay with PayPal in more than 10 Total service stations islandwide, through the […]
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Gov’t selling another property, World Plaza Building in Hato Rey, for $28M
February 28, 2019
The iconic 22-story World Plaza building in Hato Rey is up for sale, with an initial asking price of $28 million, this media outlet confirmed. The property belongs to the Infrastructure Financing Authority, a government entity that picked up the asset from the Federal Deposit Insurance Co. in 2014, four years after former owner Westernbank […]
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Op-Ed: The burden of the Jones Act
February 28, 2019
Our firm, Advantage Business Consulting, just concluded a study on the impact of the Jones Act on Puerto Rico that is much better than the two studies commissioned by the Jones Act Carriers (JACs) or even the one prepared by the General Accounting Office (GAO). It is not that we are geniuses at Advantage. It […]
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P.R. Funders Network analyzes role of philanthropy in island’s recovery
February 28, 2019
The philanthropic response to Puerto Rico’s devastation after Hurricanes Irma and María in September 2017 generated an incalculable amount of private aid and the “coming together” of new and existing nonprofits to help in the island’s ongoing recovery. The subject is discussed in detail in the “Philanthropy and Puerto Rico after Hurricane María: How a […]
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Cisco Systems to invest $130M to drive tech, network projects in P.R.
February 27, 2019
Information systems and internet company Cisco Systems announced at the Mobile World Congress 2019 held in Barcelona that Puerto Rico is among the three jurisdictions selected in the Americas to advance transformation and technological acceleration projects. Telecommunications Bureau President Sandra Torres and Chief of Staff Ricardo Llerandi were present during the announcement during the congress. […]
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González announces $95M in federal funds for child care, science, disaster recovery
February 27, 2019
Puerto Rico Resident Commissioner in Washington, Jenniffer González, announced the allocation of $95.3 million in federal funds from the Department of Health and Human Services for child care services and health services, and from the National Science Foundation for Research and the Agency Federal Emergency Management System for recovery expenses. The Office of Head Start of […]
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