The governments of Holland and the Dominican Republic have signed an agreement to promote and guarantee investments. The agreement seeks to guarantee fair treatment and foster increased trade links.
Foreign Relations Minister Carlos Morales Troncoso signed for the Dominican Republic, and Ambassador Berend Willem Schortinghuis for Holland.
Virgin Atlantic, unveiled a new three-year growth plan aimed at capturing greater business market share, with products tailored towards premium passengers at the heart of the strategy. The airline is targeting an increase of at least 10 percent in the number of business travelers over the next year.
A combination of new and extended business routes, such as London-Dubai and a sixth daily service between London and New York as well as offering the award-winning Upper Class Suite on all routes, will enable Virgin Atlantic to offer the best business service in the air. The Upper Class Suite features the longest fully-flat bed in any business class.
The World Bank´s Board of directors on Wednesday approved a $29.3 million loan to improve the quality of life for the urban poor residing in 12 Jamaican communities.
The money will be used to improve access to basic urban infrastructure, financial services, land tenure regularization, enhanced community capacity and improvements in public safety.
Kerzner International Ltd., operator of the Atlantis casino in the Bahamas, agreed to be sold for about $3 billion to a group that includes the company´s chairman and chief executive officer. The shares had their biggest gain in more than three years.
The Kerzners will gain control of a company they built into the largest casino operator in the Caribbean, and the deal may allow them to fend off possible takeover bids amid a wave of mergers in the industry.
TUI AG has successfully completed the 2005 financial year. The Group´s core businesses tourism and shipping continued the positive trend of the previous year.
Turnover in the tourism division rose 5.8 percent to €14.1 billion, outperforming the global travel market. A similar growth rate was posted by Group EBITA which rose by €20.1 million to €365.2 million.
Chile-based carrier LAN Airlines SA said Friday it will change its accounting policy to eliminate provisions related to aircraft maintenance expenses.
The new policy is effective retroactively to January 1 and is expected to generate a $40.3 million one-time, pretax benefit during the first quarter of 2006. LAN also expects the change to boost 2006 operating results by $2 million.