IEEFA: Effects of oil-purchase scandal undermine PREPA privatization, contract-reform initiatives
July 19, 2018
A long-running practice in which Puerto Rico’s public utility bought low-quality oil at high-quality prices has been mostly ignored in Gov. Ricardo Rosselló’s privatization of the Puerto Rico Electric Power Authority (PREPA), the Institute for Energy Economics and Financial Analysis claimed.
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Rosselló taps former PRASA chief Ortiz to head Puerto Rico Electric Power Authority
July 19, 2018
Puerto Rico Gov. Ricardo Rosselló announced the appointment of José Ortiz as the new executive director of the Puerto Rico Electric Power Authority.
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Report finds retail prices in P.R. unaffected by Jones Act
July 19, 2018
Economists from Boston-based Reeve & Associates and San Juan-based Estudios Técnicos Inc. released a joint report, “The Impact of the Jones Act on Puerto Rico,” that concluded the Jones Act has no impact on either retail prices or the cost of living in Puerto Rico.
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$700K Cannalytics Bioscience Labs opens in San Juan
July 19, 2018
Cannalytics, LLC. a local provider of cannabis testing and scientific research for the regulated cannabis industry in Puerto, announced the opening of its independently-owned facilities in San Juan, with a related $700,000 investment.
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5 new stores opening at Plaza Las Américas this year; 1 at Plaza del Caribe
July 18, 2018
With a combined investment exceeding $1 million, five new retailers will make their debut at Plaza Las Américas — three international and two local businesses, mall officials confirmed.
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USDA taking applications from P.R. farmers recovering from Hurricane María
July 18, 2018
The U.S. Department of Agriculture announced that agricultural producers in Puerto Rico affected by Hurricane María in 2017 may now apply for assistance to help recover and rebuild their farming operations.
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Gardien Alert device warns when child is left behind in vehicle
July 18, 2018
Puerto Rican firm Momentum Creative Lab LCC announced the launching of a disruptive technology, Gardien Alert, designed to send an alert when a child is left behind in a car, as well as the protective seat that also meets this need.
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Journalist Begnaud to deliver commencement address at Polytechnic Univ. graduation
July 18, 2018
CBS News Correspondent David Begnaud, who has been widely recognized for his work covering the impact of Hurricane María in Puerto Rico, will deliver the keynote speech during the Polytechnic University’s 39th graduation ceremony on July 26.
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El San Juan Hotel hosting back-to-school drive
July 18, 2018
As part of its commitment to the children of Puerto Rico and recognizing the importance of education, the El San Juan Hotel is coordinating a back-to-school drive, July 24 from 10 a.m. to 4 p.m. at the Isla Verde hotel.
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McConnell Valdés donates $60K to nonprofits doing hurricane recovery work
July 18, 2018
The McConnell Valdés Disaster Relief Fund, established by the namesake law firm after the passage of hurricanes Irma and María, awarded $60,000 in grants to seven nonprofit entities in Puerto Rico.
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FEMA approves another $140M for recovery in P.R.
July 17, 2018
The Federal Emergency Management Agency awarded more than $140 million in Public Assistance grants for Hurricane María recovery in Puerto Rico, the agency announced..
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FirstBank grants $6.7M in financing to Print 1 in Las Piedras
July 17, 2018
Print 1, a commercial printing business in Las Piedras, recently received a $6.7 million line of credit from FirstBank for the purchase of assets and working capital to expand their facilities, the company stated.
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DMO adopts ‘Discover Puerto Rico’ as official name
July 17, 2018
“Discover Puerto Rico” has been adopted as the island’s destination marketing organization’s new name, and was unveiled during the Destinations International Annual Convention.
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P.R.-based investment firm buys bioscience laboratory in Georgia
July 16, 2018
The Strategic Group, P.R., a private equity firm based in Dorado Beach, Puerto Rico, has announced it has acquired all outstanding interest it did not previously own in Alpharetta, Georgia-based Ascenda BioSciences, LLC (formerly DRG Laboratory) through an affiliated special purpose acquisition vehicle.
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Op-Ed: EPA readies for hurricane season, building on lessons from last year
July 16, 2018
The U.S. Environmental Protection Agency has joined partners across federal, tribal, state, and local governments in preparation for the 2018 Atlantic hurricane season.
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