FHLBNY awards $27.1M for affordable housing projects
December 4, 2015
The Federal Home Loan Bank of New York announced Thursday it has awarded $27.1 million in subsidies to fund 35 affordable housing initiatives throughout New Jersey, New York, Connecticut, Maryland and Pennsylvania.
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‘Creando Verde’ exhibit opens at Ponce Museum of Art
December 4, 2015
FirstBank and Fundación Proyecto La Línea de mi Pensamiento have joined forces to sponsor the second edition of “Creando Verde” an art contest for students between eight and 18 years of age focusing on creating ecological and social awareness.
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Science Trust grants $350K to fund new research
December 3, 2015
The Puerto Rico Science, Technology and Research Trust announced Wednesday the five winners of a combined $350,000 in grant funding through the Small Research Grant Program program.
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AT&T donates $40K to Centros Sor Isolina Ferré
December 3, 2015
Committed to enrich and strengthen local communities, AT&T recently donated $40,000 to support Centros Sor Isolina Ferré’s educational programs for high school students.
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EPA gives environmental education grant to UMET
December 3, 2015
The U.S. Environmental Protection Agency is awarding a $91,000 environmental education grant to the Universidad Metropolitana, known as UMET, to enhance environmental education for students islandwide.
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Senate grills experts on Ch. 9, fiscal control board for P.R.
December 2, 2015
WASHINGTON — The debate over extending Chapter 9 bankruptcy protection to Puerto Rico and the possible creation of a federal fiscal control board to manage the island’s troubled finances took center stage Tuesday at a Senate Judiciary Committee hearing.
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950 private-sector co.’s ask for Christmas bonus waiver
December 2, 2015
About 950 Puerto Rico-based private-sector companies have asked the Department of Labor and Human Resources to be exempted from paying this year’s Christmas bonus, the agency revealed Tuesday.
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Security guard co. ordered to pay $166K in back wages
December 2, 2015
San Juan-based security guard company Optimus Investigations Corp. and its owner Jorge Rivera-Berríos has been ordered to pay more than $166,000 in back wages and liquidate damages to 243 employees misclassified as independent contractors, the U.S. Department of Labor announced Tuesday.
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Applebee’s unveils new design in new Guaynabo eatery
December 2, 2015
With an investment of $2.5 million, Applebee’s will inaugurate its fifth restaurant on the island on Dec. 7, becoming the first market to introduce a new architectural design to be adopted by other restaurants nationwide.
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Viking Star cruise ship to use SJ as homeport in ’16
December 2, 2015
Viking Ocean Cruises announced Tuesday it will expand its destination-focused cruising to North America and the Caribbean with five new itineraries launching in September 2016.
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Gov’t makes $354M debt service payment via clawbacks
December 1, 2015
The Puerto Rico Government Development Bank announced today it has met its scheduled payments of $354 million in principal and interest after Gov. Alejandro García-Padilla instructed his fiscal team to redirect available revenues from other instrumentalities by activating contractual clawback provisions.
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Gov: Paying $354M due depends on creditor talks
December 1, 2015
A decision by the Puerto Rico government to make the $354.7 million payment on Government Development Bank Senior Notes due today will come down to the wire and will depend on the outcome on talks with creditors, Gov. Alejandro García-Padilla said.
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GDB: Puerto Rico’s economic activity up 1.0 percent YOY
December 1, 2015
Puerto Rico’s economic activity increased by 1.0 percent on a year-over-year basis in October, and reflected a month-over-month increase of 0.2 percent, according to the Government Development Bank’s Economic Activity Index released Monday.
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$354M bond payment, SCOTUS decision loom this week
November 30, 2015
The government of Puerto Rico is facing a busy week with the development of three key events on- and off-island, headed by a decision to make a $354 million bond payment by the Dec. 1 deadline.
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Construction remains at lowest point in 10 years
November 30, 2015
Once a vigorous part of the economy, Puerto Rico's construction sector remains mired at its lowest point in more than a decade with little hope of improvement in the next year, when activity is expected to stay at its present level of under $2 billion, said a spokesman for the industry.
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