Moody’s: PR banks buffers improved vs. recession
February 10, 2017
Moody's-rated Puerto Rican banks, Banco Santander Puerto Rico, Banco Popular de Puerto Rico and FirstBank Puerto Rico have improved their capitalization, reserves and core funding in the face of protracted economic recession in the Commonwealth of Puerto Rico, Moody's Investors Service said in a new report released Thursday.
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Meet PR locks down 3 events worth $23.4M for economy
February 9, 2017
Meet Puerto Rico, the organization in charge of promoting the island in the groups and conventions market, has locked down three major conventions this year, which should “contribute to reversing the downward trend” the sector experienced in 2016.
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FirstBank launches lawyer trust deposit account
February 9, 2017
FirstBank and the Access to Justice Fund Foundation announced the launching of the Interest on Lawyer Trust Account (“IOLTA”,) or “Cuenta de Intereses en Fideicomiso de Abogados y Abogadas (CIFAA),” aimed at ensuring the availability and efficacy of legal services offered by nonprofit organizations to people of limited resources.
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Rosselló presents bill to streamline P.R. permits process
February 8, 2017
Gov. Ricardo Rosselló unveiled Tuesday a bill to streamline and integrate the Puerto Rico’s permitting process, which has received the private sector’s backing and should facilitate the opening of new businesses.
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P.R. to host 1st China investment forum Mar. 1-3
February 8, 2017
Looking to position the island as an “ideal investment destination for China” in the United States and Latin America, Puerto Rico will host the 1st China Investment Forum, Mar. 1-3, Gov. Ricardo Rosselló announced Tuesday.
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IT solutions developer INVID gets SBA certification
February 8, 2017
With the goal of building business competitiveness and expanding to new markets, IT solutions developer Internet Vision Development (INVID), LLC recently received certification from the U.S. Small Business Administration’s 8(a) Business Development program, it announced Tuesday.
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Op-Ed: Startups v. Big (bad?) Corp.
February 8, 2017
Sometimes we can’t help but antagonize those big corporations. Those long-standing enterprises with their rigid business models and traditional corporate culture.
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Liberty marks 10th edition of ‘Safer Internet Day’
February 8, 2017
Liberty Puerto Rico celebrated “Safer Internet Day” on the island for the 10th year in a row Tuesday, as part of its social responsibility campaign “Navega con seguridad.”
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CBP inspects millions of cut flowers for Valentine’s Day
February 8, 2017
As Valentine’s Day quickly approaches U.S. Customs and Border Protection (CBP) is “diligently” inspecting shipments of imported cut flowers to prevent the spread of insects or pests that may damage national and local agriculture, the agency said Tuesday.
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Liberty loses Lifeline provider designation in FCC sweep
February 7, 2017
The Federal Communications Commission on Friday invalidated the inclusion of nine new broadband Internet Service Providers — including Liberty Puerto Rico — in it’s Lifeline subsidies program, leaving an undetermined number of low-income families that could have benefited in suspense had the program gotten off the ground.
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USDA approves $1M loan to EDB for job promotion
February 7, 2017
The U.S. Department of Agriculture has approved a $1 million loan to the Puerto Rico Economic Development Bank for job promotion in rural areas.
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P.R.’s migration level at record high in ’15; 89K left to US
February 6, 2017
The Puerto Rico Institute of Statistics on Sunday released data confirming that 89,000 people emigrated from Puerto Rico to the U.S. mainland in 2015, a year when all migratory indicators reached new levels.
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Moody’s: PREPA still open to consensual restructuring
February 3, 2017
Recent events related to the ongoing negotiation between the Puerto Rico Electric Power Authority and its creditors, including an extension through March 31 of the restructuring support agreement, suggests there’s still room for consensual accords, Moody’s Investors Service said in an analysis released Thursday.
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P.R. Trade spells out plans to boost local businesses
February 3, 2017
In his first presentation as the new head of Puerto Rico Trade and Export, Ricardo Llerandi on Thursday outlined the agency’s plans to “promote, encourage and facilitate the development of the local business class.”
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DHL invests $1M in upgrades, services in P.R. in ’16
February 3, 2017
DHL Global Forwarding, the air and ocean freight specialist within Deutsche Post DHL Group, confirmed Thursday it invested close to $1 million in Puerto Rico last year.
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