Former Argentine vice president Carlos Alvarez will become the new president of the Mercosur Commission of permanent representatives. He will be taking office during the December 8/9 presidential summit in Uruguay. Argentine President Nestor Kirchner made the appointment announcement last week during a press conference in Puerto Iguazu, northern Argentina, following a meeting with his Brazilian counterpart, Luiz Inancio Lula da Silva.

The US dollar recovered much of the previous session´s losses yesterday as a raft of economic data pointed to the continuing health of the US economy. In particular, dollar bulls were cheered by data on new homes sales, which undid much of the gloom surrounding Monday´s soft existing homes sales numbers.

Starwood Hotels & Resorts has acquired the Le Meridien brand for approximately $225 million. The acquisition will significantly increase the company´s presence in Europe, Africa, Middle East and Asia Pacific. The acquisition supports Starwood´s strategic shift from its significant real estate ownership to a management and franchise fee focused model.

Caribbean Trade Ministers meeting in Barbados last week, in preparation for the Sixth World Trade Organization (WTO) Ministerial Conference, which will take place in Hong Kong December 13 to 18, stressed that unless development issues are given prominence in the negotiating agenda, the Ministerial is not likely to end in agreement. The development dimension of the Doha Round is vitally important for the Caribbean, but continues to be neglected in the negotiating agenda. Success for the Doha Round must be gauged by how effectively the interests of the most vulnerable WTO Members, as measured against poverty and small size, are addressed.

Venezuela´s state-run oil company, Petróleos de Venezuela (PDVSA), may sell natural gas to Caribbean countries, drawing on reserves from its offshore Deltana Platform fields, according to reports from local newspapers. Up to 500 million cubic feet of natural gas may be produced daily from Block 1 of the Deltana Platform, which could be used to supply members of Venezuela´s PetroCaribe initiative, the El Universal newspaper said, citing Eulogio Del Pino, a member of PDVSA ´s board of directors.

Mexicana de Aviacion has strengthened its relationship with PROS Revenue Management by licensing the PROS O&D revenue management solution. Sergio Allard, chief sales and marketing officer for Mexicana, said that the company has already experienced how effective revenue management can impact financial results and the airline is now looking to achieve even higher revenues by combining O&D revenue management solution with enhanced network management business processes provided by PROS.