Planning Board overhauling economic analysis methods
May 1, 2014
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.
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Film Commission programs will remain in place
May 1, 2014
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.
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Planning Board pegs ’15 economic growth at 0.2%
April 30, 2014
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.
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Governor pitches $9.64B budget, ‘reconstruction plan’
April 29, 2014
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.”
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U.S. Bank closes on $320M loan for Mall of San Juan
April 29, 2014
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.
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NIMB joins Dow Jones international news service
April 29, 2014
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.
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Lands Authority: ‘There’s plenty of land to be developed’
April 29, 2014
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.
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PR IT Cluster reveals plans, actions to promote IT sector
April 28, 2014
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.
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Op-Ed: 1961 — A fateful year for Puerto Rico
April 28, 2014
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.
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Puerto Rico in hot pursuit of stateside investors
April 25, 2014
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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First BanCorp. earns $17.1M in 1Q, up $2.3M YOY
April 25, 2014
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported Thursday net income of $17.1 million for the first quarter of 2014, or $0.08 per diluted share, compared to $14.8 million, or $0.07 per diluted share, for the fourth quarter of 2013 and a net loss of $72.6 million, or $0.35 per diluted share, for the first quarter of 2013.
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WEF report: Puerto Rico experimenting ‘digital paradox’
April 24, 2014
Puerto Rico slipped five notches to 41st place in this year’s World Economic Forum’s Global Information Technology Report, yet remains ahead of other countries in the region in terms of connectedness, local experts said Wednesday upon analyzing the results.
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Liberty Puerto Rico turns to cloud to personalize service
April 24, 2014
Liberty Puerto Rico is partnering with technology provider ActiveVideo to launch of a cloud-based personalized user interface that uses real-time viewing metrics to display program popularity and offers insight into how viewers find television content in a social context.
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Sheraton Old San Juan completes $4M in renovations
April 24, 2014
The Sheraton Old San Juan Hotel & Casino has completed an extensive, $4 million renovation of its facilities, including upgrades to guest room, corridors, and key public areas, the Palio Restaurant, as well as building exteriors and new technology, sales and marketing director Armando Emanuelli said Wednesday.
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Ports: Cruise ship business up 15.2% in San Juan
April 24, 2014
Cruise ship business at the Port of San Juan is up 15.2 percent for the first nine months of the fiscal year, representing an increase of 124,619 passengers year-over-year, Puerto Rico Ports Authority Executive Director Víctor Suárez said Wednesday.
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