Exec Prouty extolls P.R.’s virtues as place to do business
February 25, 2015
The laws set forth by the current administration to lure investors and companies to Puerto Rico are not the only attractions the island has to offer, said Nicholas Prouty, CEO of Putnam Bridge Investments, to a roomful of business location experts and economic development professionals.
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Oriental Bank bets on youth for this year’s IRA push
February 25, 2015
Oriental Bank is kicking off this year’s IRA push with a multimedia campaign focusing on changing the younger population’s perception of the savings tool, which is usually associated with the older customer.
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T-Mobile marks a year of shaking up sector with growth
February 25, 2015
Wireless carrier T-Mobile on Tuesday marked a year since launching its “Libérate” campaign, through which it set out to shake up the industry by eliminating contracts and lowering average monthly rates by 15 percent, company officials said.
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Economists: Don’t tax education, fiscal growth plan vital
February 24, 2015
Several prominent Puerto Rican economists urged lawmakers on Monday to exempt educational institutions from the proposed 16 percent value-added tax being discussed as part of a sweeping tax reform for the island.
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Puma Energy expanding Puerto Rico operation in ’15
February 24, 2015
Puma Energy Caribe has ambitious plans on its horizon this year, including the expansion of its liquefied petroleum gas line and its vehicle service centers islandwide, Eduardo Galíndez, commercial manager for the petroleum company said Monday.
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Toyota among most admired companies in the world
February 24, 2015
Toyota topped this year’s list of “most admired automotive companies” in the world according to the results of the latest survey by business magazine “Fortune.”
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Dept. of Commerce hosts intellectual property seminar
February 24, 2015
Intellectual property rights experts from the U.S. Department of Commerce and the U.S. Patents and Trademark Office will be in Puerto Rico on Feb. 25 to offer information on how local businesses can protect their intellectual property rights when they are exporting their product and services to the U.S. mainland and overseas markets.
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Planning Board OKs $3B in location consultations in ’14
February 23, 2015
The Puerto Rico Planning Board informed that at the end of 2014 it had approved 52 location consultations, representing a future investment of $3 billion and the potential to create 25,000 jobs.
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PRHTA blasts Tourism Co.’s ‘unrealistic stance’ on VAT
February 23, 2015
The Puerto Rico Hotel and Tourism Association blasted the Tourism Co.’s stand on the proposed value-added tax structure the government is proposing as part of a comprehensive tax reform, saying the agency should “evaluate all aspects that will affect the hospitality industry.”
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Minority suppliers, multinationals to meet this week
February 23, 2015
The Puerto Rico Minority Supplier Development Council will celebrate the 13th edition the “2015 Opportunity Fair,” under the slogan “Economic Revitalization in Motion” at the Puerto Rico Convention Center, Feb. 27 from 8 a.m. to 5 p.m., the group announced.
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Moody’s pushes Commonwealth credit deeper into junk
February 20, 2015
For the second time in less than a week, Puerto Rico’s credit rating has gotten slashed, this time by Moody's Investors Service, which downgraded the Commonwealth’s general obligation bonds and guaranteed debt to Caa1 from B2, its Sales Tax Financing Corporation (COFINA) senior and subordinate bonds, respectively, to B3 and Caa1 from Ba3 and B1, and the notes of the Government Development Bank, to Caa1 from B3.
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Congress to study bill to add PR to U.S. bankruptcy code
February 20, 2015
A subcommittee of the House Judiciary Committee announced Thursday it will hold a hearing on House Resolution 870, known as the Puerto Rico Chapter 9 Uniformity Act of 2015, at 11:30 a.m. on Feb. 26th in Washington D.C.
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Puerto Rico auto sales on non-stop drop, -14.9% in Jan.
February 20, 2015
Puerto Rico’s auto industry reported Thursday yet another month of negative sales, confirming that January showed a 14.9 percent decrease in activity, upholding a non-stop drop that began early last year.
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Op-Ed: Tech systems will be key to launching tax reform
February 20, 2015
At the Puerto Rico Information Technology Cluster we believe that the potential success of the implementation of a value added tax system and how fair it could be for Puerto Ricans will depend largely on the strength of information systems that are launched to support it.
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Claro freezes telecom service rate for the rest of 2015
February 20, 2015
Telecommunications service provider Claro announced Thursday it will freeze all of its mass market rates for wireless and fixed telephony, Internet and television services “in solidarity with the consumer’s economic situation.”
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