P.R. Int’l Insurance Center shielded from restructuring
May 12, 2017
The Puerto Rico International Insurers Association (PRIIA) issued a statement Thursday saying it operates under laws and regulations that insulate its member companies and their clients from any changes to Puerto Rico that Title III bankruptcy may bring about.
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Espacios Abiertos urges gov’t to account for money
May 12, 2017
Espacios Abiertos, a nonprofit that seeks to empower society, on Thursday urged the government to provide data on the tax privileges that constitute a considerable amount of the island’s resources, particularly in times of crisis in which austerity measures are perceived due to a shortage of funds in the public coffers.
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Liberty begins servicing Maricao; now present in all towns
May 12, 2017
Liberty Puerto Rico has begun to offer its services to residential and commercial customers in Maricao, giving the company presence in all the main island’s municipalities.
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A.M. Best: ‘P.R. debt exposure for insurers is minimal’
May 12, 2017
Despite the ongoing economic issues in Puerto Rico, the domestic property/casualty (P/C) insurers have managed to generate operating profits over the past 10 years, driven primarily by solid and consistent underwriting performance, A.M. Best said in a statement issued Thursday.
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Private sector balks at proposed municipal patent hike
May 11, 2017
The Private Sector Coalition, which brings together more than 30 organizations from various sectors of the island, called on the Legislature Wednesday to halt the course of House Bill 971 and warned of the negative effects it would have on the local economy.
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Universia announces scholarship program for students
May 11, 2017
For the second consecutive year, college students from several private institutions may receive $1,500 scholarships for their professional practices in qualified internship centers through the “Work Warm-up Scholarship Program” sponsored by Banco Santander, the Puerto Rico Board of Education, and the Association of Private Colleges and Universities.
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Triple-S Management Corp. reports net loss in 1Q17
May 10, 2017
Triple-S Management Corporation, a managed care company in Puerto Rico, announced Tuesday quarterly consolidated revenues of $722.5 million and a net loss of $4.3 million, or $0.18 per diluted share, versus net income of $3.4 million, or $0.14 per diluted share, a year ago.
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MIDA’s Consumer X-Ray finds price-conscious buyers
May 10, 2017
Puerto Rico consumers have changed their priorities and frequency in purchases, focusing their expenditures on the necessary and establishments that offer the best bang for their buck, this year’s Consumer X-Ray revealed.
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Saborea culinary fest marks 10th anniversary May 18-21
May 10, 2017
The 10th edition of Puerto Rico’s longest-running culinary fest, Saborea, will take place in San Juan, May 18-21, Clarisa Jiménez, president of the entity that organizes the event, the Puerto Rico Hotel and Tourism Association.
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TOUS to open newest store at The Mall of San Juan
May 10, 2017
Jewelry store TOUS, headquartered in Spain, announced Tuesday the opening of its eighth store in Puerto Rico.
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PREPA RSA provides for consensual debt restructuring
May 9, 2017
The Puerto Rico Electric Power Authority provided additional detail on its previously announced extension and supplement to its restructuring support agreement (RSA) with the ad hoc group of PREPA bondholders, the fuel line lenders, the monoline insurers and the Government Development Bank for Puerto Rico.
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PRABIA celebrates AgBiotech industry achievements
May 9, 2017
The arrival of spring also means the arrival of the first ever Agricultural Biotechnology Season’s End Festival, a celebration that highlights the industry’s achievements and innovations, as represented by the Puerto Rico Agricultural Biotechnology Industry Association (PRABIA).
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Report: SJ Marriott hotel sold to unnamed Chinese buyer
May 8, 2017
The San Juan Marriott Resort and Stellaris Casino in Condado has reportedly been sold to unnamed Chinese investors, for some $184 million, according to real estate site The Real Deal.
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SBA honors ‘Atención Atención,’ other entrepreneurs
May 8, 2017
The Puerto Rico and U.S. Virgin Islands district office of the U.S. Small Business Administration presented the “Small Business Person of the Year Award” to Víctor M. Rivera-Solanas and María Paula Rivera-Solanas, president and vice president, respectively, of Atención Atención Inc.
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Challenger Brass & Copper takes high quality award
May 8, 2017
After marking 30 years in Puerto Rico Toa Baja-based Challenger Brass & Copper (CBC) recently obtained the ISO 9001: 2008 certification for meeting the highest levels of quality and service established by the International Organization for Standardization (ISO).
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