A loan agreement totaling $24.3 million was signed last week by Guyana’s Minister of Finance Ashni Singh and Resident Representative of the Inter-American Development Bank (IDB) Sergio Varas Olea, which is part of the financing for the rehabilitation of the Transport Infrastructure Rehabilitation Program to which Government is contributing $2.7 million.

The first bid in a 5.2 billion-dollar project to widen the Panama Canal was issued on Friday to a Panamanian company, officials said.

Three months after announcing one of the biggest European travel unions, TUI Tourism and First Choice Holidays have revealed details of their post-merger strategy, including more acquisitions and global expansion. The merger is expected to close September 3.

Nobeltours, the Spanish wholesaler specialized in big-time trips, has just cut a deal with Pontia Capital to share as much as fifty percent of its stocks, a move whereby the company hopes to keep on the road of growth by acting on four basic lines: the strengthening of its marketing strategy, the improvement of inner efficiency, the implementation of a well-planned sales scheme, and the development of a three-year strategic plan.

LAN Airlines S.A. and its related companies have successfully completed equity offering, raising a total of $320 million in the Chilean and United States markets.

The credit rating agency, Standard & Poors, has raised Sol Melia’s outlook from “stable” to “positive”, in view of the company’s improved financial profile registered in recent years and also, as a result of its debt reduction policy.