Carlos Manuel Alvarez, head of the Santiago Free Zone Association, told local reporters last week that despite the crisis that´s hitting the sector, there is a feeling that 2006, with the DR-CAFTA treaty in place, will see a recovery. Mr. Alvarez said that 2005 has been a tough year for the Dominican Republic´s industrial free zones, and mainly for Santiago and the Cibao, where the principal industrial parks are located.

Globalstar, the world´s most widely used handheld satellite phone and a provider of satellite voice and data services to business, announced this week it will offer simplex, or one-way, data services to its customers throughout parts of the Caribbean, Central America and the northern portion of South America. The company will use its Venezuelan gateway located near Caracas. Combined with the current simplex coverage offered by two Globalstar gateways in North America, this enhancement will greatly expand the area currently served by the company´s simplex data service.

LAN net profits in the third quarter of 2005 reached $23.8 million, a 35 percent drop compared to the same period in 2004, according to the Chilean flag carrier latest release. In the first nine months of this year, profits totaled $96.7 million, compared to $116 million in the same period last year. LAN blames the contraction on higher international fuel costs.

Hilton Hotels Corporation today reported financial results for the third quarter of the ongoing year. Some of the highlights are a 46 percent increase in net income and record fees of $119 million, a 17 percent spike from the third quarter of 2004. Hilton reported third-quarter net income of $89 million, compared with $61 million in the 2004 quarter. Diluted net income per share was $0.22 in the 2005 third quarter, versus $0.15 in the 2004 period.

The U.S. Virgin Islands´ economy is in the midst of an economic expansion, according to the Bureau of Economic Research (BER). The good news is the result of record increase in private sector activity in construction and financial services, public sector investment in major public works and economic development projects, and record increase in tourism. The U.S.V.I. Gross Territorial Product continues to grow each year, and is expected to increase 3.2 percent in 2005.

Deutsche Lufthansa AG said it has no plans to sell its 50 percent stake in the Thomas Cook joint venture it operates together with KarstadtQuelle AG. Earlier, Manager magazine issued a prerelease of an article which stated Lufthansa has plans to sell its 50 percent stake in the Thomas Cook joint venture to KarstadtQuelle. KarstadtQuelle has said in the past it wants to increase its own 50 percent stake.