Caribbean Business articles from May 1991

Caribbean Business archives from May 1991

Will CBI lending save P.R.'s 936 benefits? (Caribbean Basin Initiative; Puerto Rico) (Cover Story)
May 2, 1991... Will CBI lending save P.R.'s 936 benefits? The signals coming out of the U.S. Congress and the Bush administration have made it clear: lending 936 funds in the Caribbean has become the key to keeping Section 936 alive. As long as enough 936...

Bilbao Vizcaya to buy Royal Bank de P.R. (Banco Bilbao Vizcaya; Royal Bank de Puerto Rico) (In the News)
May 2, 1991... Bilbao Vizcaya to buy Royal Bank de P.R. Royal considers selling its retail unit to Spanish bank while keeping corporate banking operation in Puerto Rico CARIBBEAN BUSINESS has learned that Spain's Banco Bilbao Vizcaya (BBV) is negotiating...

Is Ramon Cantero on his way out of GDB? (Ramon Cantero Frau; Puerto Rico Government Development Bank) (In the News)
May 2, 1991... Is Ramon Cantero on his way out of GDB? Resignation may come as early as this month, sources say; Fomento's Salazar reportedly leading candidate to replace him Ramon Cantero Frau may soon resign from his position as president of the...

BOC's Anaquest plans $85M P.R. expansion. (BOC Health Care Inc.; Puerto Rico) (In the News)
May 2, 1991... BOC's Anaquest plans $85M P.R. expansion Anaquest Inc., a subsidiary of BOC Health Care Inc., is planning an $85 million expansion of its manufacturing facilities in Puerto Rico. Murray Hill, N.J.-based BOC Health Care Inc. is the medical...

Mr. Special buys G.M. Cash & Carry store. (Mr. Special Supermarkets) (In the News)
May 2, 1991... Mr. Special buys G.M. Cash & Carry store Mr. Special Supermarkets in Mayaguez has purchased G.M. Cash & Carry Inc.'s 100,000-square-foot location in Vega Alta for an undisclosed amount, a public relations spokesperson of Mr. Special...

Simed deficiencies prompt cancellation. (Medical Malpractice Syndicate; Corporacion Insular de Seguros; malpractice insurance) (In the News)
May 2, 1991... Simed deficiencies prompt cancellation Instability of Medical Malpractice Syndicate blamed for Corp. Insular de Seguros cancelling insurance Corporacion Insular de Seguros (CIS) announced last week that all malpractice insurance policies...

Condor to begin flying Germany-P.R. route. (charter airline service; subsidiary of Lufthansa German Airlines)
May 2, 1991... Condor to begin flying Germany-P.R. route Condor, a subsidiary of Lufthansa German Airlines, is scheduled to begin service from Germany to Puerto Rico in time for the next winter cruise season. A charter airline, Condor has begun working with...

FFCC considers expansion to mainland. (First Financial Caribbean Corp.) (Banking/Finance)
May 2, 1991... FFCC considers expansion to mainland Levis looking at New York, Florida and California; PaineWebber to sell $48M in CMO securities First Financial Caribbean Corp. (FFCC) is considering an expansion into the U.S. mainland market....

Ponce Federal reports $2.2M loss. (Ponce Federal Bank F.S.B.) (Banking/Finance)
May 2, 1991... Ponce Federal reports $2.2M loss Ponce Federal Bank F.S.B. announced last week that it lost $2.2 million or $.43 per share during the first quarter, which ended March 31. That is down from the $295,582 or $.06 per share earned by the bank...

Clark Melvin to represent Sands bondholders. (Clark Melvin Securities Corp.; Sands Hotel and Casino Beach Resort) (Banking/Finance )
May 2, 1991... Clark Melvin to represent Sands bondholders Clark Melvin Securities Corp, the Hato Rey investment firm, has been selected to lead a committee to protect those investors in Puerto Rico who are holding bonds issued by the Sands Hotel and Casino...

Commercial Trust buys IRAs from Merrill. (Individual Retirement Accounts; Merrill Lynch and Company Inc.) (Banking/Finance)
May 2, 1991... Commercial Trust buys IRAs from Merrill Local office of Merrill Lynch decides to get out of IRAs; transaction raises CTC's total of tax-exempt IRAs Commercial Trust Co. (CTC) announced last week that it has acquired a $3 million portfolio...

P.R. investors offered technology fund. (Puerto Rico) (Banking/Finance)
May 2, 1991... P.R. investors offered technology fund PaineWebber Development Corp. (PWDC), a subsidiary of the investment bank PaineWebber, last week presented to local investors the firm's R&D Partners III, a venture capital limited partnership that...

Sensormatic Electronics expands in P.R. (Puerto Rico) (Manufacturing)
May 2, 1991... Sensormatic Electronics expands in P.R. Manufacturer moves to former Information Magnetics plant; move will allow company to expand production, add workers Sensormatic Electronics Corp. is expanding its production capacity on the island....

Guanajibo manufacturers confront problems. (Guanajibo Industrial Park, Mayaguez, Puerto Rico) (Manufacturing)
May 2, 1991... Guanajibo manufacturers confront problems Traffic, theft, waste removal affect firms and workers; tenant association wants more controlled access to park A series of traffic and security problems are affecting firms and workers at the...

P.R. firms' orders from Defense increase. (Puerto Rico; United States Department of Defense) (Manufacturing)
May 2, 1991... P.R. firms' orders from Defense increase Increased orders for military goods because of the Persian Gulf War resulted in a windfall last fiscal year for a number of defense contractors in Puerto Rico. The value of U.S. Department of...

World Gaming report blasts P.R. legislature. (Puerto Rico) (Tourism)
May 2, 1991... World Gaming Report blasts P.R. legislature U.S. hotel, casino publication dubs island tops in region but says government does its best to |shoot down' projects In its April issue, World Gaming Report (WGR), a monthly publication...

Washington reacts to news about Section 936 loans. (United States Congress; economic assistance to Puerto Rico) (Caribbean)
May 2, 1991... Washington reacts to news about Section 936 loans WASHINGTON -- Reaction to reported increases in Puerto Rico Section 936 possessions corporations development loans to Caribbean countries was mixed last week among key members of the House...

Garden Hills Plaza hailed as a success. (shopping center) (Retail/Commerce)
May 2, 1991... Garden Hills Plaza hailed as a success Tenants of $6 million Guaynabo shopping mall say sales exceed predictions made before recession The $6 million Garden Hills Plaza, which began operating in November, has proven to be a successful...

Steady rise in bankruptcies causes concern. (Puerto Rico) (Retail/Commerce)
May 2, 1991... Steady rise in bankruptcies causes concern Frequent bankruptcies affect entire financial climate, not only those directly involved in case in question The increasing number of bankruptcies in Puerto Rico is causing serious concern...

City of Ponce to sever accord with BFI. (Ponce, Puerto Rico; BFI of Ponce Inc.) (Environment/Energy)
May 2, 1991... City of Ponce to sever accord with BFI Ponce Mayor announces plans to separate collection and landfill functions and hire two companies, one for each Ponce Mayor Rafael Cordero Santiago recently announced that the waste collection and...

EER memos fan fire of auto insurance rift. (Emerito Estrada Rivera Inc.) (Insurance)
May 2, 1991... EER memos fan fire of auto insurance rift Memos say auto sales representatives will get commissions for convincing car buyers to buy master policy EER offers Two internal memos from Emerito Estrada Rivera (EER) Inc. administrative...

Simed testimony said to spur CIS decision. (Medical Malpractice Syndicate; Corporacion Insular de Seguros) (Insurance)
May 2, 1991... Simed testimony said to spur CIS decision Testimony by the Medical Malpractice Syndicate (Simed) during a Senate committee hearing sparked the recent decision by Corporation Insular de Seguros (CIS) to withdraw from the malpractice insurance...

1990 dubbed exceptional year by PRTA. (Puerto Rico Telephone Authority) (Telecommunication)
May 2, 1991... 1990 dubbed exceptional year by PRTA Along with announcing telephone company sale, equal access, expansion brought island phone lines near 1 million mark The Puerto Rico Telephone Authority (PRTA) has dubbed 1990 "an exceptional year" and...

Finalizing PRTA sale expected in weeks. (Puerto Rico Telephone Authority) (Telecommunication)
May 2, 1991... Finalizing of PRTA sale expected in weeks Negotiation over the telephone company sale continues on at a fast pace, with a final agreement expected as soon as two weeks from now. It is all but certain that BellSouth will be the buyer of a...

Justiniano & Santiago's work goes global. (advertising agency) (Advertising/Marketing)
May 2, 1991... Justiniano & Santiago's work goes global Agency's Avia sports shoe commercial, made for airing in P.R., now being shown in major countries worldwide Newcomer Justiniano & Santiago A & E recently made a professional jump with its Avia...

Tele-Once seeks to increase broadcast range. (Media)
May 2, 1991... Tele-Once seeks to increase broadcast range Channel 11 executives count the number of Mayaguez viewers; look at two possible stations there to relay their signal Tele-Once Corp., WLII-TV (Channel 11), is entertaining the idea of adding an...

Commercial printers. (Puerto Rico) (Industry Profile )
May 2, 1991... COMMERCIAL PRINTERS $125M industry overcomes past obstacles; island firms stand poised to play greater role in Caribbean region After more than 30 years of slow, painful development, the island's commercial printers are on the threshold of...

Executive women tell how they obtained high-ranking positions. (Executive Woman)
May 2, 1991... Executive women tell how they obtained high-ranking positions Years ago, women's role in society was to get married and rear a family, and only to work outside the house if it was absolutely necessary. Today, most women have part-time or...

Angela Weyne's philosophy on how to be successful in business. (president of South Continental Insurance Agency) (Executive Woman)
May 2, 1991... Angela Weyne's philosphy on how to be successful in business When you see the office, you can't help but be curious about the occupant. The Old San Juan architecture is lovely, but the real focal points are the clues to Angela Weyne's...

Five local businessmen inducted into SME Hall of Fame. (Sales and Marketing Association of San Juan, Puerto Rico) (Top Management Today)
May 2, 1991... Five local businessmen inducted into SME Hall of Fame Carlos M. Benitez Carlos Benitez, who began his career as an insurance salesperson, is currently chairman of the board of National Life Insurance Co. His enthusiasm and love for...

Sea-Land and TMT to boost rates by 2.9%. (Sea-Land Service Inc.; Trailer Marine Transport Corp.)
May 2, 1991... Sea-Land and TMT to boost rates by 2.9% Navieras was willing to withdraw its proposal if others didn't increase rates, in spite of high operating costs Sea-Land Service Inc. and Trailer Marine Transport Corp. (TMT) separately filed for...

Cutting in on the action: heart surgery in Puerto Rico. (Cover Story)
May 9, 1991... Cutting in on the action Cardiovascular surgery, once an "obscure science" in Puerto Rico, has become the key to capturing the health-care dollar on the island. Make that the millions of health-care dollars: the average hospital cost...

New warehouse complex planned for airport. (Luis Munoz Marin International Airport; Puerto Rico) (In the News)
May 9, 1991... New warehouse complex planned for airport The Puerto Rico Ports Authority is in the final stages of negotiations with the West Group, a leading U.S. mainland real estate developer, to build a $36 million cargo warehouse and aircraft...

El Convento management contract in limbo. (El Convento Hotel; San Juan, Puerto Rico) (In the News)
May 9, 1991... El Convento management contract in limbo Negotiations to sell the management contract of the El Convento Hotel in Old San Juan have hit a standstill, according to officials from the Puerto Rico Industrial Development Co. (Pridco), which owns...

Farmacias Xtra awaits pharmacy permit approval. (supermarket pharmacy) (In the News)
May 9, 1991... Farmacias Xtra awaits pharmacy permit approval Pueblo and Xtra could soon be permitting operation of pharmacies on the premises of their supermarkets if the six pharmacy permit applications filed last September with the P.R. Department of...

Leaseway out, First Service in at Santander. (Banco Santander Puerto Rico) (In the News)
May 9, 1991... Leaseway out, First Service in at Santander CARIBBEAN BUSINESS has learned that Banco Santander Puerto Rico has decided not to acquire Leaseway Inc. of Puerto Rico from federal banking regulators. The Spain-based bank will, however, purchase...

Emulex centralizes some operations in P.R. (computer storage devices; Puerto Rico) (In the News)
May 9, 1991... Emulex centralizes some operations in P.R. Emulex Corp., a California maker of storage and conductivity products for the computer industry, will consolidate its printed board manufacturing operations at its Puerto Rico plant. Emulex...

Royal Bank sells three branches. (Royal Bank de Puerto Rico) (Last Minute News)
May 9, 1991... Royal Bank sells three branches Royal Bank de Puerto Rico has agreed to sell three San Juan area branches to Banco del Comercio de Puerto Rico (BanComercio), thus confirming a report in the April 25, 1991, edition of CARIBBEN BUSINESS that...

Central unaffected by change. (Banco Central Corp.) (Last Minute News)
May 9, 1991... Central unaffected by change Banco Central Corp. in Puerto Rico will not be affected by the unusually high $330 million in loan loss reserves that was set aside by its parent bank in Spain, according to a source close to the bank. Banco...

N.Y. Dept. Store chain for sale. (New York Department Stores de Puerto Rico) (Last Minute News)
May 9, 1991... N.Y. Dept. Store chain for sale Seedman's and New York Department Stores are up for sale, a retail executive told CARIBBEAN BUSINESS. He said that the owners of the 16-store chain, NYTSA Acquisition Group, is asking $40 million to $50...

New S.J. Cement president named. (San Juan Cement; George Uding) (Last Minute News)
May 9, 1991... New S.J. Cement president named After taking full control of San Juan Cement's stock with a total of 80.1% of the shares, Essroc Corp. recently named George Uding president and chief executive officer of San Juan Cement Co. (SJC). Uding...

Public-sector debt level rises 7.9%. (Banking/Finance)
May 9, 1991... Public-sector debt level rises 7.9% The debt level of Puerto Rico's public-sector (central government, municipalities and public corporations combined) rose nearly 7.9% in fiscal year 1990 (which ended last June 30), from $11.6 billion the...

Dean Witter grew fast in short time. (Dean Witter Puerto Rico) (Banking/Finance)
May 9, 1991... Dean Witter grew fast in short time Dean Witter came to Puerto Rico in 1984 to underwrite bonds issued by the Commonwealth government and to manage 936 funds. Since then, it has grown in size and has expanded its range of services, to where...

Mr. Special begins expanding its boundaries. (supermarkets) (Retail/Commerce)
May 9, 1991... Mr. Special begins expanding its boundaries Mr. Special, a locally owned supermarket chain, is in the midst of an aggressive expansion beyond the western sector of Puerto Rico, where the 13-store chain has done business for 25 years. ...

P.R. Plastics to open Argentine unit. (Puerto Rico) (Manufacturing)
May 9, 1991... P.R. Plastics to open Argentine unit Buenos Aires Container S.A., a wholly owned subsidiary of Puerto Rico Plastics Co., has obtained a $1.5 million loan from the Overseas Private Investment Corp. (OPIC) to establish a $3 million returnable...

Quality Components to open unit here. (Puerto Rico) (Manufacturing)
May 9, 1991... Quality Components to open unit here Quality Components Inc. (QCI), a distributor of electronic hardware and electro-mechanical components based in Ashland, Mass., plans to establish a distribution facility in Guanica to serve the island's...

San Juan will host woodworking fair. (San Juan, Puerto Rico; World Expo for Woodworking Caribbean) (Manufacturing)
May 9, 1991... San Juan will host woodworking fair The World Expo for Woodworking Caribbean (W.E.W.C.) will hold its second annual trade fair June 21-23 at the Roberto Clemente Coliseum in San Juan. Latin American countries have vast forest resources...

Former Eastern chief heads new airline. (Arnaldo Deleo; Sea Air Corp.) (Tourism)
May 9, 1991... Former Eastern chief heads new airline Nearly five months after his 21-year career as Eastern Airlines' manager in Puerto Rico ended, Arnaldo Deleo is Airlines' manager in Puerto Rico ended, Arnaldo Deleo is hard at work battling to build a...

Tourism Company on the road again. (Puerto Rico Tourism Company) (Tourism)
May 9, 1991... Tourism Company on the road again Miguel Domenech, executive director of the Puerto Rico Tourism Company, embarked last week on a month-long promotional campaign which will include stops in New York, Mexico City and several European cities....

Tourism seeks replacement for ad spokesman. (Puerto Rico Tourism Company; Raul Julia) (Tourism)
May 9, 1991... Tourism seeks replacement for ad spokesman The Puerto Rico Tourism Company is looking for a new spokesperson to replace distinguished actor Raul Julia, who has been featured in Tourism's advertising campaign for several years. On June...

Conquistador construction starts June 1. (El Conquistador Resort and Country Club) (Tourism)
May 9, 1991... Conquistador construction starts June 1 On June 1, 1991, construction of the 900-room El Conquistador Resort & Country Club will officially begin, according to Ben Bravo, vice president of projects for Williams Hospitality Management Corp....

AMR Corp. reports $195.6M first quarter loss. (parent of American Airlines) (Tourism)
May 9, 1991... AMR Corp. reports $195.6M first quarter loss AMR Corp., parent company of American Airlines Inc., reported a first-quarter loss of $195.6 million for the period ended March 31, 1991. Net loss for the same period last year was $19.3 million....

Aquaculture: farming the waters of Borinquen. (Puerto Rico) (Agriculture)
May 9, 1991... AQUACULTURE Farming the waters of Borinquen Puerto Rico fish lovers will get a chance to taste the first commercially grown local red tilapia in July, produced by Hidrocultivos del Caribe. The product will be sold under the brand name Pescado...

Agriculture Department launches ad campaign. (Puerto Rico) (Agriculture)
May 9, 1991... Agriculture Department launches ad campaign The Puerto Rico Agriculture Department's new $600,000 advertising campaign for locally produced agricultural products will be launched this week. Developed by Omega Advertising, the "Hay que...

Proteco requests Gelabert as court expert. (Pedro Gelabert, director of EPA, Puerto Rico) (Environment/Energy)
May 9, 1991... Proteco requests Gelabert as court expert Proteco has requested that the U.S. District Court for the District of Puerto Rico appoint a local hydrogeology expert to the case of U.S. Environmental Protection Agency (EPA) vs. Proteco. The catch...

P.R. small businesses sail troubled waters. (Puerto Rico) (Small Business)
May 9, 1991... P.R. small businesses sail troubled waters This year, about 8% of the estimated 85,000 small businesses operating in Puerto Rico have been forced to close down or file for bankruptcy, according to statistics from the P.R. Retailers...

Tougher safety fines, controls on horizon. (Puerto Rico; Occupational Safety and Health Administration) (Human Resources)
May 9, 1991... Tougher safety fines, controls on horizon Industries in Puerto Rico better start taking a closer look at their health and safety records because the federal government's Occupational Safety and Health Administration (OSHA) program is...

Memorex Telex P.R. now Latin American hub. (Memorex Telex Puerto Rico) (Computers)
May 9, 1991... Memorex Telex P.R. now Latin American hub Memorex Telex Puerto Rico is looking forward to 1991. The company has been extremely successful in the past few years in terms of market growth, and expects to continue its expansion into the computer...

AT&T actively develops new technology. (AT&T Microelectronics; NEC Corp.; information storage technology) (Computers)
May 9, 1991... AT&T actively develops new technology AT&T has become very active in the electronics and computer fields in recent months. The company has announced two new developments than may have significant impact on the electronics and computer...

Hewlett-Packard introduces new palmtop PC. (Computers)
May 9, 1991... Hewlett-Packard introduces new palmtop PC Hewlett-Packard Co. has introduced a new palmtop computer that provides the power of a desktop personal computer with the portability of a pocket calculator. The portable, called 95LX, is an IBM...

Law firm marks 80th year with publication. (Brown, Newsom, and Cordova) (Law/Courts)
May 9, 1991... Law firm marks 80th year with publication Brown Newsom & Cordova, the island's oldest law firm, marks its 80th year in practice in Puerto Rico this year. To commemorate the anniversary, the firm has sponsored the publication of the work...

Coqui fiber optic cable enters new phase. (Telefonica Larga Distancia; US Sprint Communications) (Telecommunication)
May 9, 1991... Coqui fiber optic cable enters new phase The Coqui fiber optic cable, scheduled to be built by a consortium of companies by the end of this year, has now entered a new phase. Telefonica Larga Distancia (TLD) and US Sprint have formally filed...

Bacardi ads to continue fulfilling a wish. (Advertising/Marketing)
May 9, 1991... Bacardi ads to continue fulfilling a wish She's blonde, green-eyed, buxom, 6'1" tall, the 1991 swimsuit issue cover girl of a top sports magazine, and now the mystery lady in Bacardi's second set of "short-story" commercials. Ashley...

U.S.V.I. commercial real estate sales healthy. (United States Virgin Islands) (Construction)
May 9, 1991... U.S.V.L commercial real estate sales healthy WASHINGTON - Recent major commercial real estate sales are expected to stimulate interest in U.S. Virgin Islands (USVI) residential properties, according to April M. Newland, president of the USVI...

Construction equipment business has developed rapidly in P.R. (Puerto Rico) (Construction)
May 9, 1991... Construction equipment business has developed rapidly in P.R. Today's building contractors and construction companies have the option of renting, leasing or buying construction equipment needed for their projects. It wasn't always that...

Pre-fab panels, piping and nuts are growing products in P.R. (Puerto Rico) (Construction)
May 9, 1991... Pre-fab panels, piping and nuts are growing products in P.R. What's new in construction materials? Pre-fab panels with a new coat, a solution for an old nuts-and-bolts problem, improved sales, and world expansion of some Puerto Rico products...

Badillo gets 12 Addy Awards; Lopito, five. (Badillo/Saatchi and Saatchi Advertising; Lopito Ileana and Howie Inc.) (Advertising/Marketing)
May 9, 1991... Badillo gets 12 Addy Awards; Lopito, five Badillo/Saatchi & Saatchi Advertising carried off 12 of the 30 1990 Addy Awards obtained by Puerto Rico agencies, more than double that of the next-highest local award winner, Lopito Ileana & Howie...

Jose Julian Alvarez: giving it his all. (director, Blue Cross of Puerto Rico) (The Caribbean Business Top 10 Business Leaders of Puerto Rico)
May 9, 1991... Jose Julian Alvarez: Giving It His All Ask Jose Julian Alvarez to define success, and chances are his description will sound more like a pep talk by a high school athletic coach than that of the health insurance industry executive that he is....

Retail food stores. (Industry Profile)
May 9, 1991... RETAIL FOOD STORES The island's $3.4 billion retail food industry continues to forge ahead in what seems to be a never-ending evolution. With the imminent entrance of two formidable stateside competitors, Pace Membership and SAM'S Club,...

Air and land cargo companies join forces. (Associated Air Freight; Grand Master Transport Services) (Import/Export)
May 9, 1991... Air and land cargo companies join forces Associated Air Freight and Golden Master Transport Services are joining forces to provide air bound and overland cargo transportation services in Puerto Rico. New Hyde Park, New York-based...

Sea-Land lowers fuel surcharge. (Sea-Land Service Inc.) (Import/Export)
May 9, 1991... Sea-Land lowers fuel surcharge Sea-Land Service Inc. last week announced a 10-cent reduction in the amount its customers pay to make up for higher fuel prices following an increase in crude oil prices as a result of the Persian Gulf war. ...

The match is on! (Coors enters Puerto Rican beer market) (Cover Story)
May 16, 1991... The match is on! Coors jumps into the Puerto Rico beer market V. Suarez & Co. Inc., backed by Coors Brewing Co., will be placing a $4 million bet on the new contender, Coors, to pin Puerto Rico title-holder Budweiser in one of the...

2 firms land $105.8M in defense contracts. (Propper International Inc., Puerto Rico Sun Oil Co.)
May 16, 1991... 2 firms land $105.8M in Defense contracts Propper wins $53M apparel contract, will add 400 workers; P.R. Sun Oil Co. gets $52.8M award for jet and diesel fuel Propper International Inc. and Puerto Rico Sun Oil Co. have received contracts...

Ponce mayor proposes city own, run airport. (Rafael Cordero)
May 16, 1991... Ponce mayor proposes city own, run airport Town seeks Federal funding to operate 239-acre Mercedita Airport; Ponce Ports Authority would be agency in charge Ponce Mayor Rafael Cordero has approached the Puerto Rico Ports Authority with a...

Ports negotiates marine terminal. (Puerto Rico Ports Authority)
May 16, 1991... Ports negotiates marine terminal Shipping company would develop and manage $23M common use cargo facility on 32 acres of land at Isla Grande airport The Puerto Rico Ports Authority (PRPA) is currently negotiating with a shipping company to...

Economic Development Bank moves offices. (for Puerto Rico)
May 16, 1991... Economic Development Bank moves offices By the end of this year, the Economic Development Bank for Puerto Rico (EDB) will be moving its offices to the Banco de Ponce Building in Hato Rey, where it will occupy three floors. At present the...

$30M industrial park planned for Ponce. (million)
May 16, 1991... $30M industrial park planned for Ponce Empresas Carro to develop 130-acre site near Port of Ponce: Ponce plans to purchase 30 acres to expand Free Trade Zone Empresas Carro, a privately held construction and real estate firm, plans to...

Decision on Reg. 24-A expected next month. (interest rate and finance charge regulation)
May 16, 1991... Decision on Reg. 24-A expected next month Sosa also revising draft of leasing law; unit to audit investment houses almost ready; 936 loans decision near The long wait for a revision of local Regulation 24-A may soon be over, if Financial...

Bankers Trust opens repo division. (repurchase agreements, Bankers Trust Caribe Capital Markets Inc.)
May 16, 1991... Bankers Trust opens repo division Section 936 companies finally have a new place on the island in which to invest their profits. Bankers Trust Caribe Capital Markets Inc. in Hato Rey has opened a division to manage 936 funds through...

Fomento targets biotechnology companies. (Puerto Rico Economic Development Administration)
May 16, 1991... Fomento targets biotechnology companies Firms that have been investing billions over past decade in research now ready to begin manufacturing wonder drugs Biotechnology firms, those high-technology ventures that promise to transform the...

Women form affordable housing group. (Woman's Coalition for Affordable Housing)
May 16, 1991... Women form affordable housing group Top housing-related professionals form a nonprofit group to promote P.R. low-income housing development Upon realizing that almost all key positions in Puerto Rico's housing-related organizations were...

P.R. firms bid for Navy project. (Puerto Rico)
May 16, 1991... P.R. firms bid for Navy project $30M project includes 254-unit Guantanamo housing development, Antigua naval station, soil testing Three Puerto Rico engineering firms have submitted bids to the U.S. Navy for a $30 million project which...

Retailers report good Mother's Day.
May 16, 1991... Retailers report good Mother's Day Most of those interviewed said this year was flat or up from last year; augur good Christmas season All year long, retailers have been anxiously awaiting the arrival of Mother's Day, hoping for an...

El Conquistador to have upscale mall. (Resort & Casino)
May 16, 1991... El Conquistador to have upscale mall El Conquistador Resort & Casino, aside from becoming the first Hawaiian-style mega-resort in Puerto Rico, will also house one of the most exclusive shopping malls on the island -- Fajardo's quantum leap...