FCC expands subsidy program to cover broadband
April 1, 2016
In a 3-2 vote, the Federal Communications Commission on Thursday decided to expand its Lifeline Universal Service Program, which currently subsidizes voice telephone service for low-income households, to allow those households to use the program to lower the cost of broadband service.
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Puerto Rico Property Registry now 100% electronic
April 1, 2016
Puerto Rico’s historically outdated Property Registry has been thrust into the 21st century through a $6.9 million modernization project that converted the government’s database from paper to fully electronic and available 24/7, Justice Secretary César Miranda announced Thursday.
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Luminaria Project to benefit Casa Cuna de San Juan
April 1, 2016
The 2016 World Candles Congress & Suppliers Trade Show, jointly sponsored by the National Candle Association and the Latin American Candle Manufacturers Association announced the upcoming Luminaria Project, which will support Casa Cuna de San Juan, an organization that provides safe refuge and a transitional home for abandoned children.
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COFINA creditors: Draft bill positive step for P.R. upturn
March 31, 2016
The senior creditors of the Puerto Rico Sales Tax Financing Corporation, known as COFINA, said Wednesday the draft of the Puerto Rico Oversight, Management, and Economic Stability Act lays “the groundwork for a pragmatic, workable policy solution…aimed at addressing Puerto Rico's economic crisis.”
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Agrohack conference to focus on innovation, tech
March 31, 2016
Looking to add to the island’s efforts to promote agriculture as a sustainable source of growth and economic development, a group of entrepreneurs will host Agrohack, a conference focusing on the sector, on May 28.
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Oversight board draft legislation draws tepid support
March 30, 2016
The U.S. House Committee on Natural Resources, chaired by Rob Bishop (R-UT). released a draft legislation on Puerto Rico’s economic crisis Tuesday, proposing an oversight board that will, among other things, audit the government and its corporations.
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Crowley sets LNG engine in new maritime cargo ship
March 30, 2016
Crowley Maritime Corporation recently set the main engine onto El Coquí, the first of two new, “Commitment Class ConRo” (combination container and Roll/On-Roll/Off) ships that will be powered by liquefied natural gas for use in Jacksonville-to-Puerto Rico ocean cargo trade on 2017, the company announced Tuesday.
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P.R. gov’t to appeal ‘Wal-Mart tax’ invalidation
March 29, 2016
The Commonwealth will appeal the decision by U.S. District Judge José A. Fusté invalidating the transfer pricing tax applied to Wal-Mart, Gov. Alejandro García-Padilla said Monday, while blasting the judge for “taking away $100 million” from the people of Puerto Rico.
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Deadline extended to April 1 for Singularity competition
March 29, 2016
The Puerto Rico Science, Technology and Research Trust announced Monday it has extended until April 1st the call-for-entries for innovators to participate in the local edition of the Singularity University Global Impact Competition.
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PuraCap Pharma buys Blu Pharmaceuticals, Blu Caribe
March 29, 2016
New Jersey-based PuraCap Pharmaceutical LLC recently announced the acquisition of Blu Pharmaceutical LLC and Blu Caribe Inc., creating PuraCap International LLC, a joint venture between PuraCap and Dangdai International Group Co., Ltd.
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Ryan chief joins board of P.R. Captive Insurance Assoc.
March 29, 2016
Ryan, a global tax services firm, announced that Kenneth D. Kotch, Principal and Captive Insurance Practice Leader, has accepted a Board nomination to become a charter member of the Puerto Rico Captive Insurance Association.
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Exec: Toyota ‘bringing the passion’ out of its lineup
March 24, 2016
NEW YORK — Although Toyota has had a “fantastic reputation for value and quality,” a self-critical assessment has driven the automaker to work on “bringing the passion” out of its vehicles to appeal to a new generation of buyers, Bob Carter, the executive responsible for the automaker’s operations in North America, which include the U.S. mainland, Puerto Rico and Canada, said.
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EVERTEC fails to file annual report, gets NYSE notice
March 24, 2016
EVERTEC Inc. announced Wednesday that as a result of its failure to timely file its annual report for fiscal year ended Dec. 31, 2015, it has been warned by the New York Stock Exchange that it is not in compliance with listing requirements.
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FirstBank-backed student passes Codetrotters Academy
March 24, 2016
As part of FirstBank’s goal to help people with limited resources to learn about and specialize in computer science, it collaborated with Codetrotters Academy to award a scholarship to program student Gabriel Rivera.
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P.R. gov’t to be sole medical cannabis supplier
March 21, 2016
Now that medical marijuana is legal in Puerto Rico, don't count on local farmers joining the green rush. At least not yet.
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