The Public Corporation for the Supervision of Puerto Rico Cooperatives, or COSSEC as the entity is known in Spanish, said Tuesday that the island’s credit unions approved some $1.3 billion in mortgage and mortgage-related loans during the first quarter of 2015, for a combined portfolio of 18,385 financing agreements.
Puma Energy, the globally integrated midstream and downstream energy company, announced Monday it has signed a purchase agreement with BP to buy its local aviation business in Puerto Rico.
Puerto Rico managed care provider Triple-S Management Corp. announced Monday the retirement of Ramón Ruiz-Comas, its president and chief executive officer, effective Jan. 1, 2016.
Puerto Rico Premium Outlets in Barceloneta is adding several new retailers to its tenant mix in coming months, including new market arrival Forever 21 Red, the clothing company’s lower-priced sister.
High-ranking executives from AIAC, better known as the American Industrial Acquisition Company, arrived to Puerto Rico on Monday to make the company’s official debut in the island’s pharmaceutical industry, following its acquisition of the former Merck plant in Arecibo earlier this year.
Puerto Rican McDonald’s operators have joined a petition by the Service Employees International Union submitted to the Federal Trade Commission Monday to launch an investigation into the franchise sector and issue recommendations for curbing ”abusive and predatory” practices by franchisors in the $800 billion industry.
A year after the arrival of Olive Garden in Puerto Rico, Restaurant Operators Inc. announced Monday the company will open its second restaurant on the island, in Guaynabo’s San Patricio Plaza sector, June 15th.
The U.S. Small Business Administration honored this year’s top achievers — bestowing awards in Puerto Rico and the U.S. Virgin Islands to recognize the enormous contributions small businesses make to the economies of both islands.
The Government Development Bank for Puerto Rico released its most recent liquidity statement late last week, showing a balance of $1.02 billion net as of April 30, representing a drop from the $1.11 billion the agency reported for the prior month.
Los Angeles-based Premiere Estates Auction Company announced Thursday a multi-property auction that includes sprawling beachfront sites in Aguadilla and Cabo Rojo, with a combined listing price of $59 million.
The Commonwealth of Puerto Rico ranked ninth on the list of best destinations to invest in Latin America and the Caribbean, according to a publication by Site Selection magazine.
Despite the current economic challenges facing Puerto Rico, the financial strength of the Commonwealth’s insurance carriers remains generally solid, according to a new A.M. Best briefing.
The United Automobile Importers Group (known as GUIA by its Spanish acronym), an organization that represents automotive industry in Puerto Rico, will celebrate on May 20 the “Foreign Trade Zone Puerto Rico Seminar 2015” at the Sheraton Hotel and Casino.
Lawmakers and members of the executive branch gathered at the Puerto Rico Convention Center today are said to be considering six different scenarios that would combine a hybrid structure of a sales and use tax and a general excise tax to shore up the government’s finances.
Puerto Rico’s current financial crisis might just be the opportunity for the government to stay on track with its strategy of collaborating with private-sector technology companies to find solutions to its problems and improve services to citizens.
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