The collapse of Brazil’s flag carrier Varig last year caused a significant fall in the number of foreign tourists visiting Brazil in 2006 revealed a top official from the Ministry of Tourism in Rio do Janeiro.

Carnival Corporation & plc reported net income of $283 million, or $0.35 diluted EPS, on revenues of $2.69 billion for its first quarter ended February 28. Net income for the first quarter of 2006 was $251 million, or $0.31 diluted EPS, on revenues of $2.46 billion.

Over the past year, the various companies and fields of business that comprise the Hotusa Group reached a global turnover of 601 million euros, a figure that exceeds by 32 percent the 456.5 million euros churned out in 2005. These figures consolidate the growth of the company chaired by Amancio Lopez Seijas, who termed the balance sheet results as “frankly positive and full of hope for the future”.

The European Central Bank raised its key interest rate 25 points to 3.75 percent in an attempt to keep inflation under control and in the United Kingdom the Bank of England left rates unchanged at 5.25 percent.

The shareholders of LIAT Ltd and Caribbean Star Airlines Ltd have announced that negotiations toward merging both carriers have been finalized.

British Airways on Wednesday forecast a 5 to 6 percent rise in revenues for the financial year beginning April and said it expected costs to rise by $289.5 million. Both forecasts are more optimistic than those for this year, when revenues are expected to rise 3.25 to 3.75 percent and costs are seen jumping $772 million.