Monday, October 18, 2021

All posts by Caribbean Business

  • Differences Abound Between Small and Large Businesses During Pandemic

    Mastercard released a report to light on the impact the global health crisis – and ongoing recovery – has had on small businesses globally.  The report, Recovery Insights: Small Business Reset, reveals that sales at small- and...

    • Posted October 6, 2021
  • Discover Puerto Rico Requests Proposals to Amplify Island’s Destination Brand

    Discover Puerto Rico, the Island’s Destination Marketing Organization (DMO), issued Requests for Proposals (RFPs,) in which local, US and international-based agencies may participate.  The DMO issued RFPs for the following services: Digital Marketing Services & Web Development,...

    • Posted October 4, 2021
  • Congress Extends Federal Matching for Puerto Rico’s Medicaid Program

    Congress voted on a short-term continuing resolution (CR) that provides an extension of the Federal Matching Assistant Percentage (FMAP) of 76% for Puerto Rico’s Medicaid program.  This vote provides a short-term fix and prevents the FMAP to...

    • Posted September 30, 2021
  • Luma Says the Power Outages will Continue During the Following Days

    Luma Energy announced different sectors in the island could experience power outages during the following days due to customer’s power demand being higher than the available generation. In a press release, the company states that power relays...

    • Posted September 28, 2021
  • Power Crisis Leads to More Blackouts and Resignation

    Luma Energy reported that around 258,692 utility clients were without power by 5 p.m. today, Monday. The most affected municipality was Caguas, where blackouts interrupted the service of 64,511 customers. The major blackouts registered a day after...

    • Posted September 27, 2021
  • Oversight Board Willing to Shield More Retirees from Pension Cuts

    After Governor Pedro Pierluisi has repeatedly objected against pension cuts for government retirees, the Financial Oversight and Management Board for Puerto Rico (FOMB) issued a statement saying it “is willing to agree” to increase the threshold of...

    • Posted September 27, 2021
  • Bravo Family Foundation Announces Rising Entrepreneurs Program Winners

    The Bravo Family Foundation (BFF) announced the winners of the second edition of its Rising Entrepreneurs Program (REP), an entrepreneurship acceleration initiative aimed to scale local tech and innovation startups with capital, mentoring, and curricula.   Local startups...

    • Posted September 23, 2021
  • Microsoft to Close Operations in Humacao in 2024

    Microsoft’s offices in Humacao will close down in September of 2024 due to a corporate reorganization process. According to the Department of Economic Development and Commerce (DDEC), the commonwealth carried out different efforts to keep the company...

    • Posted September 23, 2021
  • Local Seasonings Brand Rapidly Increases Sales

    Puerto Rican cooking seasonings brand Cooking with my Doctor reached a 313 % growth in sales in 2020 compared to 2019, and a 90% market distribution rate.  During the first half of 2021, the brand grew 70%...

    • Posted September 22, 2021
  • When the Sun Sets on Libor

    ‘Stream of Lawsuits’ Expected if Legal Framework for New Index Is Not Established

    • Posted September 21, 2021