Economy of Puerto Rico

Toronto Regional Real Estate Board Applauds Provincial Government for Moving Forward with Implementation of Personal Real Estate Corporations

Retrieved on: 
Thursday, October 1, 2020
Economy of Puerto Rico, Real estate in Puerto Rico, Toronto, National Association of Realtors

TORONTO, Oct. 01, 2020 (GLOBE NEWSWIRE) -- The Toronto Regional Real Estate Board (TRREB) is applauding the provincial governments announcement that those who trade in real estate in Ontario can now structure their businesses as Personal Real Estate Corporations (PRECs).

Key Points: 
  • TORONTO, Oct. 01, 2020 (GLOBE NEWSWIRE) -- The Toronto Regional Real Estate Board (TRREB) is applauding the provincial governments announcement that those who trade in real estate in Ontario can now structure their businesses as Personal Real Estate Corporations (PRECs).
  • The governments announcement comes with the approval of regulations under the Trust in Real Estate Services Act, 2020 (TRESA), which set out the necessary details and rules for implementing PRECs.
  • We applaud the government for helping REALTORS function as efficiently as possible, said Lisa Patel, TRREB President.
  • After the passage of TRESA, TRREB worked closely with the provincial government to provide feedback on regulations to implement PRECs.

Upside Real Estate Partners with Side to Uplevel Their Inclusive, Client-focused Service

Retrieved on: 
Thursday, September 24, 2020
Economy of Puerto Rico, Real estate in Puerto Rico

The alliance will ensure that Upside Real Estate, a firm built on integrity, inclusivity, and positivity, is powered by the most advanced platform in the industry.

Key Points: 
  • The alliance will ensure that Upside Real Estate, a firm built on integrity, inclusivity, and positivity, is powered by the most advanced platform in the industry.
  • Upside Real Estate was established by Dustin Cheatham, a rapidly rising star in Chico real estate.
  • Headquartered in Chico, Upside is a collective of residential real estate specialists who are committed to offering superior end-to-end service.
  • Partnering with Side will ensure Upside Real Estate remains at the cutting edge of the evolving real estate market while allowing its agents to continue delivering premium services to their clients.

Leading Internet of Things Provider Sigfox Enters Puerto Rico Market With Support From Local Private Equity Firm, The Phoenix Fund

Retrieved on: 
Thursday, June 25, 2020
Technology, Mobile, Wireless, Networks, Internet, Economy, Finance, Money, PUERTO RICO, Spanish colonization of the Americas, Private equity, Economy of Puerto Rico, Puerto Rico Government Development Bank

The Phoenix Fund , a private equity company in Puerto Rico, in conjunction with Sigfox USA , is proud to announce the recent exclusive acquisition of the Sigfox Technological Platform for the island of Puerto Rico.

Key Points: 
  • The Phoenix Fund , a private equity company in Puerto Rico, in conjunction with Sigfox USA , is proud to announce the recent exclusive acquisition of the Sigfox Technological Platform for the island of Puerto Rico.
  • The Phoenix Fund, a private equity company registered under Law 185 of Puerto Rico, provides financing to local companies to foster economic development.
  • The Phoenix Fund is a Puerto Rico Private Equity Company registered under Law 185, now under the Puerto Rico Code of Incentives, that invests Debt and Equity Financing into companies based in Puerto Rico and abroad.
  • The Phoenix Fund, as a Puerto Rico private equity fund, continues to invest in cutting-edge technologies aiming to facilitate government, business, and the livelihood of our fellow citizens.

Banco Popular’s Digital Platform Reaches One Million Users During the Pandemic

Retrieved on: 
Tuesday, June 23, 2020
Finance, Internet, Banking, Professional services, Technology, Popular, Inc., Rosemont, Illinois, Economy of Puerto Rico, Companies

Banco Popular reported today that its digital platform Mi Banco has reached one million monthly active users.

Key Points: 
  • Banco Popular reported today that its digital platform Mi Banco has reached one million monthly active users.
  • Reaching one million active users of Mi Banco is a great honor, as it reflects the trust that customers have in our digital solutions," said Camille Burckhart, Chief Officer of Innovation, Technology & Operations at Popular, Inc.
    Digital banking is Populars fastest growing channel.
  • More than 70% of all Banco Popular customers have enrolled in Mi Banco, and 77% uses the platform on a monthly basis.
  • Mi Banco, recognized by Global Finance as the best Digital Banking in Puerto Rico and Latin America for nine years in a row, is a platform created locally and designed specifically for Populars customers.

Puerto Rico Announces It Will Be Open For Travelers On July 15th

Retrieved on: 
Thursday, June 18, 2020
Spanish Empire, PUERTO RICO, Spanish colonization of the Americas, Americas, CARIBBEAN, Culebra Air Services, Economy of Puerto Rico

The airport has remained open and, unlike other Caribbean destinations, Puerto Rico has not closed its borders.

Key Points: 
  • The airport has remained open and, unlike other Caribbean destinations, Puerto Rico has not closed its borders.
  • Currently, Puerto Rico manages approximately 200 daily operations which include cargo, passenger and general aviation flights.
  • Further details as it relates to these requirements will be provided in upcoming days as Puerto Rico gets operationally ready for hosting travelers.
  • Discover Puerto Rico has worked to keep Puerto Rico at the top-of-mind of consumers, and starting on July 15, we will finally be able to offer them the vacation they have been dreaming of."

Popular Completes $500 Million Accelerated Share Repurchase Transaction

Retrieved on: 
Wednesday, May 27, 2020
Banking, Other Professional Services, Professional services, Finance, Economy of Puerto Rico, Popular, Inc., Rosemont, Illinois, Spanish Empire, Accelerated share repurchase, PUERTO RICO, Repurchase agreement, Americas, First Bancorp

Popular, Inc. (Popular or the Corporation) (NASDAQ: BPOP) announced today that the Corporation has completed its $500 million accelerated share repurchase transaction (ASR) for 2020 with respect to its common stock.

Key Points: 
  • Popular, Inc. (Popular or the Corporation) (NASDAQ: BPOP) announced today that the Corporation has completed its $500 million accelerated share repurchase transaction (ASR) for 2020 with respect to its common stock.
  • Under the ASR, the Corporation prepaid $500 million and received from the dealer counterparty an initial delivery of 7,055,919 shares of common stock on February 3, 2020.
  • Founded in 1893, Banco Popular de Puerto Rico, Populars principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands.
  • Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries.

Popular, Inc. Declares a Cash Dividend of $0.40 per Common Share

Retrieved on: 
Tuesday, May 12, 2020
Banking, Professional services, Finance, Companies, Economy of Puerto Rico, Finance, Popular, Inc., Rosemont, Illinois, Dividend, PUERTO RICO, UBS, First Bancorp, W Holding Company

Popular, Inc. (NASDAQ: BPOP) announced today that its Board of Directors has approved a quarterly cash dividend of $0.40 per share on its outstanding common stock.

Key Points: 
  • Popular, Inc. (NASDAQ: BPOP) announced today that its Board of Directors has approved a quarterly cash dividend of $0.40 per share on its outstanding common stock.
  • The dividend will be payable on July 1, 2020 to shareholders of record at the close of business on June 2, 2020.
  • Founded in 1893, Banco Popular de Puerto Rico, Populars principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands.
  • Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries.

Popular Has Processed $1.2 Billion in SBA Loans

Retrieved on: 
Tuesday, May 5, 2020
Small business, Banking, Professional services, Finance, Economy of Puerto Rico, Spanish Empire, Popular, Inc., Rosemont, Illinois, PUERTO RICO, Americas

Of the total, $1.06 billion were granted through Banco Popular de Puerto Rico and $185 million through Popular Bank, Popular's banking subsidiary in the United States.

Key Points: 
  • Of the total, $1.06 billion were granted through Banco Popular de Puerto Rico and $185 million through Popular Bank, Popular's banking subsidiary in the United States.
  • Popular reported that, in Puerto Rico, it has so far processed 15,277 applications for a total of $1.04 billion in funds.
  • "Small and medium-sized businesses are the heart of a community and, at Popular, we support them, particularly at this difficult time.
  • In this second round, through May 1, the SBA had approved $176 billion in loans.

ENDEAVORS TO SUSPEND DISASTER RECOVERY OPERATIONS FOR HURRICANE MARIA IN PUERTO RICO

Retrieved on: 
Friday, March 27, 2020
Tropical cyclones, Lesser Antilles, In Puerto Rico, Spanish Empire, PUERTO RICO, Spanish colonization of the Americas, Hurricane Maria, Federal Emergency Management Agency, Puerto Rican, Puerto Ricans in New York City, Economy of Puerto Rico

As a result, Endeavors will close most offices providing Hurricane Maria disaster recovery in Puerto Rico on April 3, 2020, due to a lack of funding.

Key Points: 
  • As a result, Endeavors will close most offices providing Hurricane Maria disaster recovery in Puerto Rico on April 3, 2020, due to a lack of funding.
  • Our Puerto Rican employees serving under FEMA's Disaster Case Management program will be affected by the closure.
  • Endeavors Puerto Rico offices are no longer accepting clients recovering from the aftermath of Hurricane Maria.
  • Despite the lack of funding, Endeavors will continue to have a permanent presence in Puerto Rico, finding opportunities to serve Puerto Ricans.

Learning Undefeated Expands Mobile STEM Lab Program Outside Continental U.S. to Support Puerto Rican Schools Damaged by Recent Earthquakes

Retrieved on: 
Wednesday, March 11, 2020
Technology, Other Technology, Philanthropy, Other Education, Training, Primary, Secondary, Other Philanthropy, Science, Education, Other Science, Spanish Empire, Municipalities of Puerto Rico, PUERTO RICO, Spanish colonization of the Americas, Americas, CARIBBEAN, Economy of Puerto Rico, Learning Undefeated, the Science, Technology and Research Trust:

We are honored to have the opportunity to extend this program outside the continental U.S. in partnership with the Puerto Rico Science, Technology & Research Trust.

Key Points: 
  • We are honored to have the opportunity to extend this program outside the continental U.S. in partnership with the Puerto Rico Science, Technology & Research Trust.
  • MdBioLab, the flagship of Learning Undefeateds mobile disaster recovery education program, is a 45-foot, self-contained science classroom on wheels.
  • In Puerto Rico, the lab will begin its journey in Ponce, where 10 schools have been consolidated into a single site.
  • Learning Undefeated operates the nations only disaster recovery STEM education program, which was developed in response to Hurricane Harvey in 2017 .