Michelle Kantrow-Vázquez

Puerto Rico

Founder and Editor at News Is My Business

Astronomy geek. Reporter by trade. Boricua 🇵🇷. Views are my own!

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Articles

Puerto Rico air passenger traffic reaches 3.6M in Q1, up 10.6% Y-O-Y

1 day ago | newsismybusiness.com | Michelle Kantrow-Vázquez

The Luis Muñoz Marín International Airport (airport code SJU) reported a 10.6% year-over-year increase in passenger traffic for the first quarter of 2025, according to financial results released by Grupo Aeroportuario del Sureste (ASUR). The airport, managed by ASUR’s U.S. subsidiary Aerostar Airport Holdings, handled 3.6 million travelers between January and March, up from 3.26 million during the same period in 2024.
San Juan named one of the cleanest cities for air quality in US

1 day ago | newsismybusiness.com | Michelle Kantrow-Vázquez

The municipality of San Juan has once again earned national recognition for its clean air, ranking among the cleanest U.S. cities in the American Lung Association’s 2025 “State of the Air” report. San Juan was one of only two U.S. cities to receive top marks across all three pollution categories in the report, which analyzed data from 2021 to 2023.
OFG Bancorp reports $178M in revenue in Q1, up 2% Y-O-Y

1 day ago | newsismybusiness.com | Michelle Kantrow-Vázquez

OFG Bancorp, the parent company of Oriental Bank, reported first-quarter 2025 core revenues of $178.3 million, a 2% increase from $174.2 million in the same quarter last year, though slightly below the $181.9 million posted in the fourth quarter of 2024. “The first quarter reflected a strong start to the year with solid overall performance, consistent financial results and excellent operating execution,” said José Rafael Fernández, CEO of OFG Bancorp.
Gasoline retailers sue Puerto Rico Energy for $15M over franchise dispute

2 days ago | newsismybusiness.com | Michelle Kantrow-Vázquez

A group of gasoline retailers in Puerto Rico has filed a $15 million federal lawsuit against Puerto Rico Energy LLC (PRE), alleging wrongful franchise terminations, abuse of contractual terms and improper attempts to recover environmental fines from operators. The plaintiffs — Roberto Seijo-Marrero, Roca Station I LLC, Antonio Juan León, Los Juanes Investment Corp., and CJL Investment LLC — argue that PRE violated federal and local laws regulating fuel franchise relationships.
Puerto Rico Energy sues franchisee over gas station contract breach

3 days ago | newsismybusiness.com | Michelle Kantrow-Vázquez

Puerto Rico Energy LLC has filed a federal lawsuit against franchise operator Antonio Juan León and two affiliated companies, citing breach of contract, environmental noncompliance and unauthorized use of trademarks following the termination of multiple gas station franchise agreements. The complaint, filed in the U.S. District Court for the District of Puerto Rico, seeks declaratory judgment, injunctive relief and more than $367,000 in damages.
Puerto Rico CofC president backs inventory tax pause to ease tariff costs

1 week ago | newsismybusiness.com | Dennis Costa |Maria R Miranda |María Miranda |Michelle Kantrow-Vázquez

Amid the ongoing trade war between the United States and China — with President Donald Trump having imposed a 145% tariff on Chinese goods and China retaliating with a 125% levy on U.S. imports as of Thursday — Puerto Rico Chamber of Commerce (PRCC) President Luis Pizarro-Otero is confident that recent moves by Puerto Rico Gov.
Banesco USA supports community organizations in Puerto Rico

1 week ago | newsismybusiness.com | Michelle Kantrow-Vázquez

As part of its commitment to Puerto Rico’s development and well-being, Banesco USA has awarded grants to local community organizations that support disadvantaged populations through economic development, education, and social services. This round of funding supports Centro CRECE, Hogar del Niño El Ave María, Proyecto Matria and Colegio San Juan Bosco. “At Banesco USA we believe that our success is measured through the positive impact we make in our communities.
LemVega sues ex-contractors over defamation, $70M in damages

1 week ago | newsismybusiness.com | Michelle Kantrow-Vázquez

LemVega Capital LLC and its CEO, Caroline Farah Lembck, have filed a civil lawsuit in the San Juan Superior Court against former contractors Kiavash Kazemian and Michael Thomas Kelly, alleging breach of contract, defamation, harassment and damages totaling $70 million. According to the complaint, LemVega entered into independent contractor agreements with Kazemian in April 2024 and Kelly in June 2024. Both agreements were terminated by the end of July.
Tariffs raise construction costs, slow housing projects in Puerto Rico

1 week ago | newsismybusiness.com | Maria R Miranda |María Miranda |Michelle Kantrow-Vázquez

President Donald Trump’s imposition of tariffs in March on imports from Canada, Mexico and China is affecting multiple industries, including Puerto Rico’s construction sector. The increased cost of materials and equipment is expected to impact both public infrastructure and private development projects. José Torrens, president of the Puerto Rico Chapter of the Associated General Contractors of America (AGC-PR), said the price hikes are contributing to market uncertainty.
NY Fed chief warns of uncertainty, slower growth in Puerto Rico visit

1 week ago | newsismybusiness.com | Dennis Costa |Maria R Miranda |María Miranda |Michelle Kantrow-Vázquez

Federal Reserve Bank of New York President and CEO John C. Williams emphasized the uncertainty reigning in the current economic landscape during remarks he delivered before the Puerto Rico Chamber of Commerce in San Juan on Friday. “Measures of policy uncertainty have increased sharply in recent months,” Williams said. “Between October of last year and this March, the Economic Policy Uncertainty Index has nearly tripled, reaching the highest level recorded over the past 40 years, outside of 2020.