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.

Airlines from all around the world carried some 1.6 billion passengers on international regular flights during 2002 for a 1 percent growth as to the number of fliers transported per every flown mile the year before, according to stats handed over by the International Civil Aviation Organization (ICAO).

For its part, international cargo transportation soared 2 percent during the course of the year compared to 2001, though it still remains 3 percent below the figures put up back in the year 2000.

The ongoing summertime tourist season in Argentina will come to a close with as many as 15.8 million tourists, a record high in the history of this industry in the country, and $1.9 billion worth of revenues based on booking numbers, as well as hotel and real-estate occupancy rates, official sources said.

A deal embracing a 6.25 percent wage hike put an end to a strike staged by Barbados’ tourist workers in demand of higher salaries. The agreement –expected to be in force for two years- was signed after long hours of negotiations between the Ministry of Labor and the sector’s trade union.

According to the official document, during the first year the industry’s employees will get a 3 percent wage increase with the remaining 3.25 percent coming in the second year.

The Dutch Arbitration Courthouse sentenced fellow air carrier KLM to indemnify Italian company Alitalia with 150 million euros on the heels of the May 2000 breakup that put an end to their mutual alliance dating back to November 1999.

Sources close to Alitalia said in Rome that the arbitration courthouse overrode KLM’s unilateral decision to terminate the alliance based on allegations that the Italian airline had hocked over privatization proceedings –the State owns 53 percent of it- and over the opening of the Malpensa Airport in Milan.