González: PR population to dip under 3M within a year
October 26, 2017
Puerto Rico’s population will dip under 3 million within a year — for the first time since the mid-1970s — if current rates of emigration continue, warns Jenniffer González-Colón, the island’s resident commissioner in Washington.
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‘After yrs of worrying about it, PR has finally hit bottom’
October 26, 2017
The impact of the back-to-back hurricanes — Irma and María — on the island has pushed Puerto Rico to “finally hit bottom,” said José Rafael Fernández, CEO of Oriental Financial Group Wednesday, upon announcing the bank’s third quarter results.
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OBoard names Chief Transformation Officer for PREPA
October 26, 2017
In the wake of the controversy swirling around the $300 million contract the Puerto Rico Electric Power Authority awarded Whitefish Energy to rebuild the network post-Hurricane María, the utility has been assigned a “Chief Transformation Officer” to oversee the work.
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Act 20/22 investors launch $16M loan program in PR
October 26, 2017
Puerto Rico residents and Act 20/22 decree investors Toby Neugebauer and Charlie Hamilton announced a long-term partnership with microfinance organization Grameen America to support women entrepreneurs on the island.
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73% of PR banks open 5 weeks after María’s devastation
October 26, 2017
Five weeks after Hurricane María pummeled Puerto Rico, about 72.6 percent of local bank branches, or 228, have resumed operations, according to data from the Office of the Financial Institutions Commissioner.
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Total PR anticipates ‘marked changes’ in PR fuel market
October 26, 2017
Puerto Rico’s fuel market has had to adjust rapidly to the dramatic rise in diesel fuel demand since Hurricane María struck on Sept. 20, which in the case of Total Petroleum is five times higher than prior to the storm.
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Metropistas, Abertis, Goldman Sachs donate $1M to PR
October 26, 2017
As a way to contribute to Puerto Rico’s recovery in the wake of Hurricane María, Autopistas Metropolitanas de Puerto Rico (“metropistas”) investment partners Abertis and Goldman Sachs announced a $1 million donation toward hurricane relief efforts on the island.
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Amgen back online in Juncos, María deals $67M blow
October 25, 2017
Pharmaceutical company Amgen, which has a multi-building complex in Juncos, released third quarter results Wednesday, where it confirmed it is back to full operations five weeks after Hurricane María hit Puerto Rico.
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Passport services to resume next week in PR
October 25, 2017
As early as next week, Puerto Rico’s U.S. passport service office will resume operations, Resident Commissioner, Jenniffer González confirmed.
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GFR launches real estate investment firm subsidiary
October 25, 2017
Grupo Ferré Rangel, a Puerto Rico-based family office known for its focus on high-growth companies, has launched a new wholly owned subsidiary, Kingbird Properties, to expand its real estate portfolio in the U.S. and Latin America, the company announced.
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jetBlue to redeploy PR leisure flights to other cities
October 25, 2017
Airline carrier jetBlue will “temporarily redeploy” inbound leisure flying from Puerto Rico to other destinations, as the island picks up the pieces after the devastation left behind by Hurricane María.
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Moody’s puts Sacred Heart Univ. on review for credit cut
October 25, 2017
Moody's Investors Service has placed the Ba3 rating on Sacred Heart University’s General Revenue and Refunding Bonds, 2012A on review for downgrade.
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SJ in Lonely Planet’s ‘Best in Travel’ Top 10 Cities for ’18
October 24, 2017
Puerto Rico's capital, San Juan, has been showcased as one of Lonely Planet’s “Best in Travel” Top 10 Cities for 2018, a positive for a city that is still dealing with the aftermath of Hurricane María.
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PR gov’t balks at suspension of passport services
October 24, 2017
Secretary of State Luis Rivera-Marín expressed his dissatisfaction Monday with the interruption in passport services the U.S. Department of State ordered, which forces Puerto Rico residents to request the service in Miami.
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FHA extends foreclosure relief for homeowners
October 24, 2017
The Federal Housing Administration (FHA) is extending its initial 90-day foreclosure moratorium for FHA-insured homeowners impacted by Hurricanes Harvey, Irma and María for an additional 90 days due to the extensive damage and continuing needs in hard-hit areas, the agency confirmed.
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