Mexico´s peso weakened on investor concern that slower U.S. growth will cut demand for Mexican-made goods and choke foreign investment.

The currency weakened 2 centavos, or 0.2 percent to 10.50 pesos to the U.S. dollar as of 12:15 p.m. in New York. The peso earlier weakened to 10.56 to the dollar, its lowest point since January 1999, when a devaluation in Brazil pushed other Latin American currencies down. The peso has dropped 1.2 percent this month.

NH announced a few months ago its intention to sell four or five of its small-size hotels. The strategic plan –kicked off with the sale of four major hotels to entrepreneur Amancio Ortega- intends to put on the market around 10 percent of the company’s real-estate assets with a view to both cushion the burden of its properties and collect some sellout cash to bankroll the group’s expansion policy.

Aerolineas Argentinas is planning to fork over $30 million for the creation of four regional airlines to operate in Latin America. The affiliated carriers will take off to Chile, Bolivia, Paraguay and Uruguay as early as 2004, serving both domestic and international routes.

The new airlines will do away with part of Aerolineas Argentinas’ dependence on its domestic market and are expected to chip in roughly $200 million into the matrix company’s accounts.

Despite a stronger-than-expected boost from holiday travelers, Continental Airlines (CAL) lost $109 million during the fourth quarter, bringing its losses for 2002 to $451 million.

Continental´s fourth-quarter loss was equivalent to $1.67 per share, compared with a shortfall of $149 million, or $2.58, for the same period in 2001.

Analysts had expected the airline to lose $1.94 per share, according to a survey by Thomson First Call.

Presidents of Brazil and Argentina vowed to revive a regional trade accord after a plunge in their currencies led to a convergence of exchange rates, a move seen to help also spur tourism.

Companies such as Quickfood SA, Argentina´s biggest beef exporter to neighboring Brazil, and Compania de Tecidos Norte de Minas SA, Brazil´s third-largest textile maker, said similar exchange rates are helping increase cross-border sales.

´´The relation between both currencies is really helpful right now,´´ said Guillermo Bameule, one of the owners of Quickfood.

Guatemala’s tourist sector wrapped up 2002 with a dropping flow of travelers compared to the year before, even though profits accrued to more than $497 million, according to Sandra Muralles from the Association of Tourism Operators (ASOPTUR).

Such events as the visit of Pope John Paul II and the canonization of Brother Pedro de Betancur egged on travelers last year who eventually wound up spending more money, Mrs. Muralles pointed out.