Foreign investment in Dominican Republic topped US$3.6 billion last year, or nearly 40% higher than 2011, while the government "embraces" the hope of also positive results at yearend 2013. Dominican Republic Export and Investment Center (CEI-RD) director Jean Alain Rodriguez revealed the figures on Tuesday.

The sale is slated for completion by May 31, subject government approval and certain financing guarantees. Proceeds from the sale will be used to reduce Thomas Cook’s 788 million pounds of debt load. The company has had financial difficulties since 2011, due to decrease in sales.

TUI Travel has reported a nine per cent increase in bookings at its UK operations as poor winter weather drives Brits to book holidays earlier. TUI also reported higher margins on those holidays which were booked, with momentum also carried into the summer season.