PR gov’t defaults on $312M in debt, interest due Feb. 1
February 2, 2017
The Commonwealth of Puerto Rico defaulted on $312 million in principal and interest due Feb. 1st by four credit-issuing entities, including constitutionally protected General Obligation bonds, the government confirmed Wednesday.
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Treasury collections fall $45.4M Y-O-Y in December
February 2, 2017
The Puerto Rico Treasury Department released Wednesday revenue collection numbers for December 2016 totaling $799.3 million, which represents a year-over-year decrease of $45.4 million.
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37 co’s picked for Parallel18’s 3rd round of acceleration
February 2, 2017
Parallel18, an international accelerator for high impact innovative enterprises that want to scale their businesses from Puerto Rico, announced Wednesday it has selected 37 startups that will move to the island for five months to accelerate their companies and learn from business and technology experts worldwide.
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First BanCorp.’s private equity groups selling 20M shares
February 2, 2017
First BanCorp., the bank holding company for FirstBank Puerto Rico, announced Wednesday that certain stockholders have commenced a public underwritten offering of an aggregate of 20 million shares of the corporation’s common stock, $0.10 par value per share that they currently own.
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Sacred Heart Univ. gets $150K for new scholarship fund
February 2, 2017
Sacred Heart University announced Wednesday the receipt of a $150,000 gift from Ashton Soniat and his wife Lauren to establish the perpetual Robert Soniat Fund to provide scholarships to outstanding students with financial need.
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OFG Bancorp reports $12.1M in 4Q16 net income
February 1, 2017
OFG Bancorp reported Tuesday results for the fourth quarter, reflecting an increase in net income available to shareholders to $12.1 million, or $0.27 per share fully diluted, from $11.7 million, or $0.26 per share fully diluted, in the third quarter and a loss of $4.4 million, or ($0.10) per share, in the same year-ago quarter.
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FirstBank grants $4.5M in working capital to Pentaq
February 1, 2017
FirstBank announced it has granted Pentaq Manufacturing Corp.the first working capital line of credit of $4.5 million under the CAPLine program of the U. S. Small Business Administration.
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Ford looking for ‘unstoppable people’ in new campaign
February 1, 2017
With its new “Sé Imparable” initiative, Ford announced Tuesday it is looking for people in Puerto Rico who are “continually exceling and striving to improve other people’s lives as well as their own,” despite the island’s challenging economic and social environment.
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Sprint reportedly finalizing acquisition of Open Mobile
January 31, 2017
Wireless carrier Sprint is reportedly in the final stages of acquiring competitor Open Mobile in what would be the first major change in Puerto Rico’s telecommunications landscape this year, two sources confirmed to this media outlet.
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NY Fed study sheds light on P.R. small business traits
January 31, 2017
A new study released Monday by the Federal Reserve Bank of New York showed that the majority of Puerto Rico’s small businesses both in and outside the San Juan metropolitan area have few employees and annual revenues under $250,000, among other similarities.
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Study questions Medicare Advantage benchmarks for PR
January 31, 2017
Puerto Rico's traditional Medicare population is not representative of the island's much larger Medicare Advantage membership, questioning its use as the foundation for establishing MA benchmarks on the island.
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Weekend Wheels: Nissan Pathfinder ’17 ideal for family
January 31, 2017
This past weekend, this media outlet got the opportunity to test-drive this elegant, roomy and comfortable vehicle, taking in many of its family-friendly features.
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P.R.’s restaurant sector optimistic despite challenges
January 30, 2017
People in Puerto Rico are spending less when dining outside the home, but they are still eating out and that is good news for local restaurants.
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Board extends fiscal plan deadline, names exec. director
January 30, 2017
The Financial Oversight and Management Board for Puerto Rico on Saturday approved Gov. Ricardo Rosselló’s request to extend the deadline in which to present the administration’s fiscal plan to Feb. 28.
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The Big Think Group to represent PRConsultants Group
January 30, 2017
Full service public relations and digital marketing communications firm The Big Think Group has been appointed the Puerto Rico partner of the PRConsultants Group, considered North America’s “leading public relations professionals,” the local agency announced Sunday.
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