The U.S. Senate passed S. 2328, the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), Wednesday with a bipartisan vote that should send the measure to Pres. Barack Obama’s desk for signing today.
The groundbreaking ceremony for the first AC Hotel by Marriott in San Juan took place Wednesday for what will be a $45 million investment by Ashford 1369 Hospitality, LLC, an affiliate of Interlink, which acquired the former Ambassador Plaza & Casino property in Condado.
The Associated General Contractors of America, Puerto Rico Chapter, recently held the third edition of its Business Match Making to connect general contractors with suppliers of products and services related to the construction industry, including sub-contractors.
The Federal Communications Commission announced today that Puerto Rico Telephone Company and its parent company, América Móvil of Mexico, will pay $1.1 million to resolve an investigation by the FCC’s Enforcement Bureau.
Due to the possibility of a government default on some $2 billion in debt service due July 1, Puerto Rico credit unions confirmed they have enough financial capacity to face the situation, with $486 million in reserves to face possible investment losses.
With the goal of making the process of paying for purchases easier and quicker, Walmart Puerto Rico is introducing “Walmart Pay” – a fast, easy and secure way for customers to pay with their smartphones in Walmart and Amigo stores islandwide, starting today.
The owners of the Taco Maker franchise in Puerto Rico, FransGlobal, announced this week its decision to buy the more than 50,000 pounds of beef consumed monthly at its 90 local restaurants from island farmers, representing an annual investment of some $1.5 million.
Moody’s Investors Service said Monday the new surcharge on customers’ electricity bills approved last week by the Puerto Rico Energy Commission to be used to pay debt service on new securitization bonds to be issued as part of the Puerto Rico Electric Power Authority’s debt restructuring is positive for creditors.
Fusionworks Inc. closed its office in Mexico City earlier this year but that hardly means this Condado-based business and technology advisory firm is out of that market.
The Puerto Rico Legislature should seek to reduce the increasing load of regulatory, administrative and tax obligations thrust on the island's small business sector, urged a candidate to the presidency of the United Retailers Association (CUD, as the trade group is known by its initials in Spanish).
Mortgage holders behind in their payments just got some help from the Puerto Rico Legislature though the bill still needs Gov. Alejandro García-Padilla's signature.
Sacred Heart University announced it has received a $40,000 contribution from AT&T to support 39 undergraduate scholarships.
Members of the Puerto Rico Economists Association believe there are several aspects of the Puerto Rico Oversight, Management, and Economic Stability Act that are unconstitutional, saying the disruption they could bring to the island are “incalculable.”
The Puerto Rico Community Foundation and Association of Insurance Companies of Puerto Rico recently appointed new directors for its respective boards of directors.
For the 19th consecutive year, Toyota Foundation is accepting applications for its “Environmental Donations Program,” which provides funding to nonprofit entities that submit proposals aimed at environmental conservation.
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