The U.S. Small Business Administration approved 335 loans for $43.8 million in Puerto Rico and the U.S. Virgin Islands during the first six months of fiscal year 2016, a 19 percent and six percent increase, respectively, over approvals during the same period in 2015, the agency said Wednesday.
Puerto Rico retail sales started 2016 in a slump, reflecting a 3.71 percent year-over-year drop in January, or $113.3 million less than what was generated during the same month in 2015, Puerto Rico Trade and Export reported Wednesday.
A lineup of new retail tenants is opening at two Puerto Rico malls, Plaza del Caribe in Ponce and The Mall of San Juan in the metropolitan area.
The Puerto Rico Tourism Co. on Wednesday confirmed it is doing “everything in its power” to protect visitors to the island as it deals with the spread of the Zika virus, which so far has affected “less than one half of one percent” of the population,” agency Executive Director Ingrid I. Rivera-Rocafort said.
The multi-sectorial “Echar Pa’lante” alliance sponsored by Banco Popular recently joined forces with the Georgia Institute of Technology, to train more than 110 university professors from eight universities on entrepreneurship.
Wireless carrier AT&T unveiled Wednesday it’s new “Puede Esperar” campaign targeting Spanish-speaking Hispanics on the U.S. mainland, who it said are more prone to smartphone distracted driving than the general population, according its research.
The Puerto Rico Electric Power Authority has asked creditors for a two-week extension through May 13 to file its rate case before the Puerto Rico Energy Commission, which is a key element in the restructuring support agreement reached with creditors.
The Puerto Rico Justice Department’s CyberCrime Division will testify before the Senate on Internet sales and the protections consumers require to fight off fraudulent business practices.
The Expedia group, one of the world’s leading travel companies, has begun its rollout of Expedia PartnerCentral (EPC) Conversations, which can benefit its Caribbean hotel partners, including those in Puerto Rico, through from better dialogue and engagement with booked guests.
First BanCorp., the parent company for FirstBank Puerto Rico, reported Monday net income of $23.3 million for the first quarter of 2016, or $0.11 per diluted share, compared to $15 million, or $0.07 per diluted share, for the fourth quarter of 2015 and $25.6 million, or $0.12 per diluted share, for the first quarter of 2015.
Encouraged by the progress shown by its U.S. mainland operation and by the strength of its Puerto Rico franchise, Popular Inc. reported Monday net income of $85 million for the first quarter ended Mar. 31, 2016, compared to net income of $137.4 million and an adjusted net income of $98.3 million for the quarter ended Dec. 31, 2015.
The government of Puerto Rico will default on several debt payments due May 2, including $422 million due from the Government Development Bank, “regardless of whether Congress enacts pending fiscal oversight legislation,” Moody’s Investors Service predicted.
Individual Puerto Rico bondholders announced the creation of Backyard Bondholders seeking to have a unified voice in the negotiations between the commonwealth’s government, the U.S. House of Representatives and other creditors on the restructuring of the public debt.
The 5th edition of “Puerto Rico Restaurant Week” will take place June 1-11, when premier restaurants will offer specially designed three course dinner and/or lunch menus at a fixed price.
Bridgestone North Latin America, through its subsidiary Bridgestone Costa Rica, announced the upcoming opening of the first Bridgestone Store service center in Puerto Rico, slated for June 2016.
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