The indication by members of Gov. Alejandro García-Padilla’s administration of a slight economic recovery over the past two fiscal years is “simply a mirage,” and it will take significant adjustments to achieve the growth predicted for coming years, economist firm H. Calero Consulting Group Inc. said in its most recent monthly publication.
Gov. Alejandro García-Padilla signed Sunday an executive order to extend service hours for certain Puerto Rico government agencies, as was established by law more than a decade ago.
J. Walter Thompson San Juan, Badillo Saatchi & Saatchi and DDB Latina were the runaway winners of this year’s 32nd edition of the Cúspide Festival, an annual awards competition sponsored by the Puerto Rico Association of Advertising Agencies.
A new ownership team led by Post Capital Partners and 30-year waste management industry veteran Randy Jensen has acquired the solid waste operations of Waste Management Inc. in Puerto Rico, for an undisclosed amount.
Gov. Alejandro García-Padilla's administration is contemplating a number of austerity measures to scale back government expenses, including proposing an across-the-board $600 Christmas bonus for all public employees and eliminating payments of excess or unused sick days.
The Puerto Rico Planning Board is working on an integrated plan to streamline and update the process of gathering, analyzing and releasing statistics, seeking to strengthen the numbers available for the island’s economic activities, agency President Luis García-Pelatti said Wednesday.
Integrating the Puerto Rico Film Commission into the Economic Development and Commerce Department will “help align Puerto Rico’s strategies to promote the film industry, while generating efficiencies to maintain the Film Fund,” said the latter agency’s Chief Alberto Bacó-Bagué Wednesday.
The Puerto Rico Planning Board released Tuesday its economic projections for Fiscal years 2014 and 2015, in which it is estimated a base growth in real Gross Domestic Product of $6.5 billion million this year, representing an increase of 0.1 percent compared to Fiscal 2013.
Puerto Rico Gov. Alejandro García-Padilla presented Tuesday a budget that includes about $1.4 billion in cuts, including the elimination of 23 agencies and about 100 schools, among other “rational uses of public funds.”
U.S. Bank, as joint lead arranger and administrative agent, closed on a $320 million loan for The Taubman Realty Group Limited Partnership to finance the development of The Mall of San Juan, a 650,000-square-foot shopping and entertainment complex in San Juan.
News is my Business, Puerto Rico’s first English-language digital business newspaper, recently became part of the Dow Jones & Company international news service, putting the world’s focus on the island’s economic landscape.
Puerto Rico Lands Authority Executive Director Luis Rivero-Cubano recently told members of the Associated General Contractors that there are plenty of business opportunities for the sector to develop residential, tourism and commercial properties throughout the island.
The Board of the Puerto Rico of Information Technology Cluster (PRITC), an organization dedicated to making Puerto Rico a global leader in the IT industry, recently unveiled its strategic plan and announced the actions it is taking to carry out its mission.
In early April, the government of Puerto Rico disclosed the hiring of a New York law firm that has handled more than 30 sovereign debt restructurings, including those of Greece, Argentina, Iraq and Russia.
Puerto Rico is in hot pursuit of the wealthiest stateside investors, with the public and private sectors banding together to showcase the benefits — both legal and natural — that the island has to offer.
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