============= Transaction # 1 ============================================== Transaction #: 1 Transaction Code: 0 (New Host Selected) Terminal ID: 57900 Z39.50 Server ID: 0 (Astro/Math/Stat) Session ID: 1 New Z39.50 Server ID: 19 (TREC) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:10:30 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 2 ============================================== Transaction #: 2 Transaction Code: 35 (New Host Connected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:10:32 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 3 ============================================== Transaction #: 3 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:12:07 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 6 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {drugs for the treatment of asthma})" ============= Transaction # 4 ============================================== Transaction #: 4 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:12:11 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 8389 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 5 ============================================== Transaction #: 5 Transaction Code: 2 (New Disp. Format Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:14:51 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 6 ============================================== Transaction #: 6 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:18:21 Selec. Rec. #: 1 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT941-10709 _AN-EBHC6AE5FT 940 208 FT 08 FEB 94 / UK Company News: Glaxo asthma drug wi ns US approval By DANIEL GREEN Glax o has belatedly won US approval for one of its most important products of th e 1990s, the inhaled asthma treatment Serevent. The US Food and Drug Adminis tration had been expected to approve the drug in December and Glaxo shares f ell when this did not happen. After Serevent's approval yesterday, the share s rose 15p to end the day with a net fall of 2p at 664p. The drug is importa nt to Glaxo because it is a successor to Ventolin, the long standing big sel ler in asthma treatment. Such respiratory treatments are second in importanc e only to ulcer drugs in Glaxo's therapeutic portfolio, accounting for almos t one quarter of total sales. The older drug has now lost much of its patent protection and the company is relying on Serevent to underpin its position in the market. The drug was approved in Europe in 1991 and should eventually reach sales of Pounds 350m a year, according to James Capel, the broker. In the last full year, Serevent sold Pounds 73m while Ventolin sales were wort h Pounds 484m. The drug had a setback last month, however, when Italian gove rnment healthcare reforms favoured Ventolin by excluding Serevent from a lis t of drugs the government would pay for. Glaxo lodged an appeal against the ruling. Companies:- Glaxo Holdings. Countr ies:- USZ United States of America. Industries:- P2834 Pharmaceutical Preparations. Types:- TECH P roducts & Product use. The Financial Times London P age 24 ============= Transaction # 7 ============================================== Transaction #: 7 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:18:47 Selec. Rec. #: 1 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT941-10709 _AN-EBHC6AE5FT 940 208 FT 08 FEB 94 / UK Company News: Glaxo asthma drug wi ns US approval By DANIEL GREEN Glax o has belatedly won US approval for one of its most important products of th e 1990s, the inhaled asthma treatment Serevent. The US Food and Drug Adminis tration had been expected to approve the drug in December and Glaxo shares f ell when this did not happen. After Serevent's approval yesterday, the share s rose 15p to end the day with a net fall of 2p at 664p. The drug is importa nt to Glaxo because it is a successor to Ventolin, the long standing big sel ler in asthma treatment. Such respiratory treatments are second in importanc e only to ulcer drugs in Glaxo's therapeutic portfolio, accounting for almos t one quarter of total sales. The older drug has now lost much of its patent protection and the company is relying on Serevent to underpin its position in the market. The drug was approved in Europe in 1991 and should eventually reach sales of Pounds 350m a year, according to James Capel, the broker. In the last full year, Serevent sold Pounds 73m while Ventolin sales were wort h Pounds 484m. The drug had a setback last month, however, when Italian gove rnment healthcare reforms favoured Ventolin by excluding Serevent from a lis t of drugs the government would pay for. Glaxo lodged an appeal against the ruling. Companies:- Glaxo Holdings. Countr ies:- USZ United States of America. Industries:- P2834 Pharmaceutical Preparations. Types:- TECH P roducts & Product use. The Financial Times London P age 24 ============= Transaction # 8 ============================================== Transaction #: 8 Transaction Code: 23 (Saved Recs. Viewed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:20:23 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 9 ============================================== Transaction #: 9 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:22:07 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 7 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {drugs for the treatment of asthma ventolin})" ============= Transaction # 10 ============================================== Transaction #: 10 Transaction Code: 37 (General (non-Tcl) Error) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:22:22 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: {ERR {Status -1} {Hits 0} {Received 0} {Set Default}} {Search failure: Didn' t get a search response pdu. Connection closed.} ============= Transaction # 11 ============================================== Transaction #: 11 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:22:27 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 7 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {drugs for the treatment of asthma ventolin})" ============= Transaction # 12 ============================================== Transaction #: 12 Transaction Code: 37 (General (non-Tcl) Error) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:22:30 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: {ERR {Status -1} {Hits 0} {Received 0} {Set Default}} {Search failure: Faile d to transmit search request. Connection may have closed.} ============= Transaction # 13 ============================================== Transaction #: 13 Transaction Code: 0 (New Host Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 19 (TREC) Old Z39.50 Server ID: 19 (TREC) Usr Interface: Prob Time Cmd Sent: 12:22:34 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 14 ============================================== Transaction #: 14 Transaction Code: 35 (New Host Connected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 19 (TREC) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:22:35 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 15 ============================================== Transaction #: 15 Transaction Code: 37 (General (non-Tcl) Error) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:22:45 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: User submitted empty search. ============= Transaction # 16 ============================================== Transaction #: 16 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:23:07 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 7 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {drugs for the treatment of asthma ventolin})" ============= Transaction # 17 ============================================== Transaction #: 17 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:23:10 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 8390 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 18 ============================================== Transaction #: 18 Transaction Code: 8 (Mixed Bool./Dir. Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:26:23 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 1 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 8 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {drugs for the treatment of asthma ventolin}) and (title {gl axo})" ============= Transaction # 19 ============================================== Transaction #: 19 Transaction Code: 37 (General (non-Tcl) Error) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:26:30 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: {ERR {Status -1} {Hits 0} {Received 0} {Set Default}} {Search failure: Didn' t get a search response pdu. Connection closed.} ============= Transaction # 20 ============================================== Transaction #: 20 Transaction Code: 0 (New Host Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 19 (TREC) Old Z39.50 Server ID: 19 (TREC) Usr Interface: Prob Time Cmd Sent: 12:26:43 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 21 ============================================== Transaction #: 21 Transaction Code: 35 (New Host Connected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 19 (TREC) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:26:44 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 22 ============================================== Transaction #: 22 Transaction Code: 8 (Mixed Bool./Dir. Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:27:05 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 1 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 8 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {drugs for the treatment of asthma ventolin}) and (title {gl axp})" ============= Transaction # 23 ============================================== Transaction #: 23 Transaction Code: 37 (General (non-Tcl) Error) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:27:14 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: {ERR {Status 1} {Hits 0} {Received 0} {Set Default}} {No matching records fo und} ============= Transaction # 24 ============================================== Transaction #: 24 Transaction Code: 8 (Mixed Bool./Dir. Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:27:22 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 1 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 8 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {drugs for the treatment of asthma ventolin}) and (title {gl axo})" ============= Transaction # 25 ============================================== Transaction #: 25 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:27:24 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 141 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 26 ============================================== Transaction #: 26 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:27:54 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 141 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 27 ============================================== Transaction #: 27 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:28:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 141 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 28 ============================================== Transaction #: 28 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:28:26 Selec. Rec. #: 1 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT941-10709 _AN-EBHC6AE5FT 940 208 FT 08 FEB 94 / UK Company News: Glaxo asthma drug wi ns US approval By DANIEL GREEN Glax o has belatedly won US approval for one of its most important products of th e 1990s, the inhaled asthma treatment Serevent. The US Food and Drug Adminis tration had been expected to approve the drug in December and Glaxo shares f ell when this did not happen. After Serevent's approval yesterday, the share s rose 15p to end the day with a net fall of 2p at 664p. The drug is importa nt to Glaxo because it is a successor to Ventolin, the long standing big sel ler in asthma treatment. Such respiratory treatments are second in importanc e only to ulcer drugs in Glaxo's therapeutic portfolio, accounting for almos t one quarter of total sales. The older drug has now lost much of its patent protection and the company is relying on Serevent to underpin its position in the market. The drug was approved in Europe in 1991 and should eventually reach sales of Pounds 350m a year, according to James Capel, the broker. In the last full year, Serevent sold Pounds 73m while Ventolin sales were wort h Pounds 484m. The drug had a setback last month, however, when Italian gove rnment healthcare reforms favoured Ventolin by excluding Serevent from a lis t of drugs the government would pay for. Glaxo lodged an appeal against the ruling. Companies:- Glaxo Holdings. Countr ies:- USZ United States of America. Industries:- P2834 Pharmaceutical Preparations. Types:- TECH P roducts & Product use. The Financial Times London P age 24 ============= Transaction # 29 ============================================== Transaction #: 29 Transaction Code: 12 (Record Relevance Feedback) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:28:50 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind Default:1 ============= Transaction # 30 ============================================== Transaction #: 30 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:29:29 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 206926 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 31 ============================================== Transaction #: 31 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:29:57 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 206926 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 32 ============================================== Transaction #: 32 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:30:06 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 206926 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 33 ============================================== Transaction #: 33 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:30:16 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 206926 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 34 ============================================== Transaction #: 34 Transaction Code: 27 (Saved Recs. Win. Exited) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 1 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:31:11 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 35 ============================================== Transaction #: 35 Transaction Code: 0 (New Host Selected) Terminal ID: 57900 Z39.50 Server ID: 0 (Astro/Math/Stat) Session ID: 2 New Z39.50 Server ID: 19 (TREC) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:36:58 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 36 ============================================== Transaction #: 36 Transaction Code: 35 (New Host Connected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:36:59 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 37 ============================================== Transaction #: 37 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 12:37:44 Rec. Format: Short Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 1 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {nino})" ============= Transaction # 38 ============================================== Transaction #: 38 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Short Time Cmd Complete: 12:37:46 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 33 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 39 ============================================== Transaction #: 39 Transaction Code: 2 (New Disp. Format Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:38:12 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 40 ============================================== Transaction #: 40 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:42:27 Selec. Rec. #: 1 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-10204 _AN-CBGA3ACSFT 920 207 FT 07 FEB 92 / Commodities and Agriculture: Keeping a weather-eye on a troublesome 'child' / A look at the crop problems posed b y the unpredictable El Nino climate phenomenon By BA RBARA DURR TO CALM anxious grain traders the Chicago Board of Trade will offer a seminar later this month on El Nino, the weather pheno menon that develops in the equatorial Pacific every three to five years and can cause global climate upsets. Grain traders are keen to know if they can expect this year's El Nino to disturb the US weather pattern sufficiently to make a dent in crop output. Although signs of El Nino had been accumulating during 1991, only last month did the the US National Weather Service finall y conclude publicly that the phenomenon was a fact. The symptoms had been sh owing themselves overseas since last spring - rising surface temperatures in the eastern and central Pacific, drought in the western Pacific rim from Au stralia through Indonesia, a weaker Indian monsoon, dryness in north-eastern Brazil, drought in South Africa and wetness last summer in the Great Basin of the US, which runs from Arizona north to Idaho. While many of these condi tions indicate that El Nino is occurring, they do not reveal its severity. T he phenomenon generally peaks in the northern hemisphere's winter. This help s explain why Peruvian fishermen dubbed the phenomenon El Nino, which means Christ child in Spanish. It arrived about Christmas time. Mr Vernon Kousky, a research meteorologist with the US weather service, now assesses the curre nt El Nino as 'moderate to strong'. While individual weather events cannot a lways be directly attributed to El Nino, some signals are indicative of its strength. Warm water in the Pacific is pushing moisture into the south-weste rn US, causing, for example, this winter's floods in Texas, according to Mr Art Douglas, chairman of the Creighton University's Atmospheric Sciences Dep artment. Along the Gulf of Mexico, from Texas to Florida, some areas have al ready had 200 per cent to 1,000 per cent of their normal rainfall. Temperatu res in that region are also beginning to dip below normal. At the same time the phenomenon is upsetting the Jet Stream, keeping extremely cold air far t o the north and moderating temperatures in the Midwest. The Midwest, America 's most important grain area, is seeing temperatures four or five degrees Fa hrenheit above normal, said Mr Jon Davis, the in-house meteorologist for She arson Lehman's commodities trading arm. The weather service predicts that mo re of the same will occur in those regions until spring and that the usually wet north-west is likely to be dryer, as is the Ohio valley. But what conce rns the grain trade more is what, if anything, will happen during the critic al planting and growing season for American crops from June to August. Unfor tunately, weather forecasting is not a precise science. Mr Kousky says that El Nino, usually a 12 to 18 month event, has another six to 12 months to run . But he points out that there is no consistent relationship between El Nino and the weather pattern beyond the winter-to-spring months. 'Anything can h appen,' he admits. Crop Cast, a Maryland-based weather forecasting service t hat is used by many US commodity trading houses, says that while El Nino has already affected South American soyabeans, South African maize and Australi an wheat, it is hoping to be able to predict potentially damaging crop effec ts in the US by looking at the coincidence of the El Nino with two other cli matological events, last year's eruption of Mount Pinatubo in the Phillippin es and the combination of lunar and solar cycles. These additional factors a long with El Nino probably mean that a more extreme weather pattern bleeds o ver into summer, according to Mr Kevin Marcus, director of Crop Cast service s. He says the likelihood of extreme, hot and dry weather is 100 per cent, b ut gives only a one in three chance that this will have a significant impact on crops. The hot, dry weather would have to occur in July or early August to reduce the maize and soyabean crops significantly, that is by more than 1 0 per cent. But Mr Marcus is uncertain about how the three phenomena will in teract since there no established pattern. He is still waiting for more data on the severity of this year's El Nino. The phenomenon has prompted commodi ties markets to gyrate in the past. In 1972-73 the El Nino destroyed the Per uvian fishmeal catch, which then accounted for some 45 per cent of the world trade in protein feed. In 1982-83 it caused a drought in Africa, which help ed to send cocoa prices up by nearly 70 per cent over a period of about a ye ar. The Financial Times London Page 22 ============= Transaction # 41 ============================================== Transaction #: 41 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:42:35 Selec. Rec. #: 1 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-10204 _AN-CBGA3ACSFT 920 207 FT 07 FEB 92 / Commodities and Agriculture: Keeping a weather-eye on a troublesome 'child' / A look at the crop problems posed b y the unpredictable El Nino climate phenomenon By BA RBARA DURR TO CALM anxious grain traders the Chicago Board of Trade will offer a seminar later this month on El Nino, the weather pheno menon that develops in the equatorial Pacific every three to five years and can cause global climate upsets. Grain traders are keen to know if they can expect this year's El Nino to disturb the US weather pattern sufficiently to make a dent in crop output. Although signs of El Nino had been accumulating during 1991, only last month did the the US National Weather Service finall y conclude publicly that the phenomenon was a fact. The symptoms had been sh owing themselves overseas since last spring - rising surface temperatures in the eastern and central Pacific, drought in the western Pacific rim from Au stralia through Indonesia, a weaker Indian monsoon, dryness in north-eastern Brazil, drought in South Africa and wetness last summer in the Great Basin of the US, which runs from Arizona north to Idaho. While many of these condi tions indicate that El Nino is occurring, they do not reveal its severity. T he phenomenon generally peaks in the northern hemisphere's winter. This help s explain why Peruvian fishermen dubbed the phenomenon El Nino, which means Christ child in Spanish. It arrived about Christmas time. Mr Vernon Kousky, a research meteorologist with the US weather service, now assesses the curre nt El Nino as 'moderate to strong'. While individual weather events cannot a lways be directly attributed to El Nino, some signals are indicative of its strength. Warm water in the Pacific is pushing moisture into the south-weste rn US, causing, for example, this winter's floods in Texas, according to Mr Art Douglas, chairman of the Creighton University's Atmospheric Sciences Dep artment. Along the Gulf of Mexico, from Texas to Florida, some areas have al ready had 200 per cent to 1,000 per cent of their normal rainfall. Temperatu res in that region are also beginning to dip below normal. At the same time the phenomenon is upsetting the Jet Stream, keeping extremely cold air far t o the north and moderating temperatures in the Midwest. The Midwest, America 's most important grain area, is seeing temperatures four or five degrees Fa hrenheit above normal, said Mr Jon Davis, the in-house meteorologist for She arson Lehman's commodities trading arm. The weather service predicts that mo re of the same will occur in those regions until spring and that the usually wet north-west is likely to be dryer, as is the Ohio valley. But what conce rns the grain trade more is what, if anything, will happen during the critic al planting and growing season for American crops from June to August. Unfor tunately, weather forecasting is not a precise science. Mr Kousky says that El Nino, usually a 12 to 18 month event, has another six to 12 months to run . But he points out that there is no consistent relationship between El Nino and the weather pattern beyond the winter-to-spring months. 'Anything can h appen,' he admits. Crop Cast, a Maryland-based weather forecasting service t hat is used by many US commodity trading houses, says that while El Nino has already affected South American soyabeans, South African maize and Australi an wheat, it is hoping to be able to predict potentially damaging crop effec ts in the US by looking at the coincidence of the El Nino with two other cli matological events, last year's eruption of Mount Pinatubo in the Phillippin es and the combination of lunar and solar cycles. These additional factors a long with El Nino probably mean that a more extreme weather pattern bleeds o ver into summer, according to Mr Kevin Marcus, director of Crop Cast service s. He says the likelihood of extreme, hot and dry weather is 100 per cent, b ut gives only a one in three chance that this will have a significant impact on crops. The hot, dry weather would have to occur in July or early August to reduce the maize and soyabean crops significantly, that is by more than 1 0 per cent. But Mr Marcus is uncertain about how the three phenomena will in teract since there no established pattern. He is still waiting for more data on the severity of this year's El Nino. The phenomenon has prompted commodi ties markets to gyrate in the past. In 1972-73 the El Nino destroyed the Per uvian fishmeal catch, which then accounted for some 45 per cent of the world trade in protein feed. In 1982-83 it caused a drought in Africa, which help ed to send cocoa prices up by nearly 70 per cent over a period of about a ye ar. The Financial Times London Page 22 ============= Transaction # 42 ============================================== Transaction #: 42 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:43:23 Selec. Rec. #: 2 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT923-14358 _AN-CGHATADDFT 920 708 FT 08 JUL 92 / Commodities and Agriculture: El Nino drought 'appears to be over' By REUTER SYDNEY THE DROUGHT that has ravaged crops and cost hundreds of millions of dollars in countries across Asia and the South Pacific appears to be over, meteorologists say, reports Reuter from Sydney. Its cause, the climatic phenomenon known as El Nino, is dissipating with som e areas returning to normal weather conditions more quickly than others, the y said. Australia is among the first of the major agricultural producers to emerge from drought in most areas, while in India a return to normal rainfal l is expected in the late monsoon. China's northern provinces are still in t he grip of drought, however, though it is unlikely to have much impact on th e country's international trading position. 'We're now in the declining phas e of El Nino, it's global and it has had an effect since early last year all round the planet, particularly in the tropical regions,' an official at Aus tralia's National Climate Centre said. Ocean waters in the central and easte rn equatorial Pacific, which had warmed under El Nino were continuing to coo l quite rapidly, the climate centre reported. Australia, whose farm sector w as ravaged by drought and economic recession, has already felt the effect of the changing conditions. 'Australia tends to climb out of it earlier than o thers,' the official said. Drought conditions still persist in some areas of New South Wales and southern Queensland but local output of grain and sugar is forecast to recover significantly after last year's drought across easte rn Australia. The total value of wheat, coarse grains and sugar is forecast to rise by nearly 30 per cent to ADollars 3.14bn (Pounds 1.2bn) in the year to the end of June, 1993, compared with the previous drought-hit year. In In dia however, the change is taking longer to come through. 'It is expected to come back to average in the late monsoon season,' Australia's climate centr e official said. Erratic rains in India last year caused food grain output t o fall to about 171m tonnes in the year to June 30, 1992 from the previous y ear's record 176m tonnes. The Financial Times Lon don Page 32 ============= Transaction # 43 ============================================== Transaction #: 43 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:43:29 Selec. Rec. #: 2 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT923-14358 _AN-CGHATADDFT 920 708 FT 08 JUL 92 / Commodities and Agriculture: El Nino drought 'appears to be over' By REUTER SYDNEY THE DROUGHT that has ravaged crops and cost hundreds of millions of dollars in countries across Asia and the South Pacific appears to be over, meteorologists say, reports Reuter from Sydney. Its cause, the climatic phenomenon known as El Nino, is dissipating with som e areas returning to normal weather conditions more quickly than others, the y said. Australia is among the first of the major agricultural producers to emerge from drought in most areas, while in India a return to normal rainfal l is expected in the late monsoon. China's northern provinces are still in t he grip of drought, however, though it is unlikely to have much impact on th e country's international trading position. 'We're now in the declining phas e of El Nino, it's global and it has had an effect since early last year all round the planet, particularly in the tropical regions,' an official at Aus tralia's National Climate Centre said. Ocean waters in the central and easte rn equatorial Pacific, which had warmed under El Nino were continuing to coo l quite rapidly, the climate centre reported. Australia, whose farm sector w as ravaged by drought and economic recession, has already felt the effect of the changing conditions. 'Australia tends to climb out of it earlier than o thers,' the official said. Drought conditions still persist in some areas of New South Wales and southern Queensland but local output of grain and sugar is forecast to recover significantly after last year's drought across easte rn Australia. The total value of wheat, coarse grains and sugar is forecast to rise by nearly 30 per cent to ADollars 3.14bn (Pounds 1.2bn) in the year to the end of June, 1993, compared with the previous drought-hit year. In In dia however, the change is taking longer to come through. 'It is expected to come back to average in the late monsoon season,' Australia's climate centr e official said. Erratic rains in India last year caused food grain output t o fall to about 171m tonnes in the year to June 30, 1992 from the previous y ear's record 176m tonnes. The Financial Times Lon don Page 32 ============= Transaction # 44 ============================================== Transaction #: 44 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:44:38 Selec. Rec. #: 6 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-14766 _AN-DDPB8AGDFT 930 416 FT 16 APR 93 / Commodities and Agriculture: Peru's f ishmeal industry set for bumper profits - Production survived last year's El Nino visitation to reach a fresh record By SALLY BO WEN THE PERUVIAN fishmeal industry is gearing up for a bona nza predicted to last for the next two to three years. By late 1992, the sar dine and anchovy that form the staple raw material for the industry were bac k in abundance after being temporarily affected by the appearance of the dre aded warm current known as 'El Nino', which last ravaged fishmeal output in 1983. Contrary to predictions, however, Peruvian production survived last ye ar's milder visitation and a late boost in fish stocks turned 1992 into yet another record year. Peru topped the world exporters' league with 1.37m tonn es, narrowly outstripping Chile's 1.21m tonnes. 'Statistically, the years af ter a Nino are excellent,' says Mr Espino of Imarpe, Peru's maritime institu te, which is charged with husbanding the resource and recommending periodic fishing bans. Mr Espino estimates that the Peruvian catch could be raised by a quarter or a third from the present 6m tonnes a year without detriment to the species. 'And if the fishmeal producers started going for jack mackerel - at present only about 80,000 tonnes a year are landed, perhaps 5 per cent of total stocks - then the sky's the limit,' he says. The main limitation o n such expansion is fleet capacity. Most Peruvian fishing boats are small, w ith no refrigeration and hug the coast. When El Nino hits, the fish move int o deeper waters farther out to sea where these boats cannot follow. Peruvian producers say they have invested more than Dollars 200m in the past two yea rs in fleet renovation and plant and equipment modernisation ashore. The ind ustry is moving towards production of higher-quality, low temperature, steam -dried meal with 'stickwater' plants to maximise protein recovery. New boats with refrigerated holds are under construction in local yards. But there's still plenty of room, and a warm welcome waiting, for new investment from ab road. Representatives from Chile's huge Angelini group have been in Peru rec ently on 'feeling-out' visits. And Venezuelan capital has already entered in the form of a new fishmeal joint venture under the name of Palangrera Perua na. But the big surprise of 1993 could be the arrival of the Chinese. Pesca Peru, the state-owned fishmeal and fishoil giant that produces around 40 per cent of all national output, is high on this year's privatisation list. Coo pers and Lybrand, with financing from the Canadian development agency and th e World Bank, is currently completing a valuation and will recommend on sale procedures. Essentially, the choice is between splitting the company into i ts 20 plants and four refineries to sell off individually; or selling the wh ole company as one unit. The only likely buyers on the latter basis would be the Chinese - 'and it's a possibility that has the private producers in a s tate of panic', says Mr Eric Topf, head of the Pesca Peru privatisation comm ittee. Unofficially, senior Pesca Peru officials say the company should fetc h 'at least Dollars 200m', a ball-park figure considered over-optimistic by private producers. The state-owned plants are, by and large, elderly and out dated - though several are excellently located on the now-desirable extreme southern coast and have their own quays. Drastic personnel reductions during 1992 put Pesca Peru back into profit after years in the red, underlining ju st how profitable producing fishmeal can be, even from scrap-yard plants. Ch ina has established itself as far and away Peru's largest customer, buying l ast year almost 60 per cent of all output. Peruvian fishmeal goes to feed th e Pacific prawn, turbot and eel which China is successfully exporting in qua ntity to the US and Japan. The Chinese are said to be producing at present s ome 32m tonnes of animal foodstuffs a year, in which they use 2 per cent fis hmeal - a very low percentage compared with most competitors. A high-level P eruvian delegation is now in China 'to try to convince them of the bounties of boosting that fishmeal component,' says Mr Salomon Manzur, Peruvian presi dent of the Fishmeal Exporters' Association. If the Chinese do increase the percentage of fishmeal in their current animal feedstuff production, Peruvia n producers will be assured of sales for their expanded fishmeal output for several years to come. ---------------------------------------------------- - FISHMEAL PRODUCTION ('000 TONNES) --------------------------------------- -------------- 1990 1991 1992 ------------------ ----------------------------------- Peruvian Pesca Peru 379 4 98 513 Private sector 755 782 853 Total 1,1 34 1,280 1,366 ----------------------------------------------------- Ch ilean 1,550 1,210 ----------------------------------- ------------------ Source: Peruvian National Fishing Society (SNP). ------- ---------------------------------------------- Countries:- PEZ Peru, South America. Industries:- P0919 Misc ellaneous Marine Products. Types:- MKTS Production. The Financial Times London Page 26 ============= Transaction # 45 ============================================== Transaction #: 45 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:44:43 Selec. Rec. #: 6 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-14766 _AN-DDPB8AGDFT 930 416 FT 16 APR 93 / Commodities and Agriculture: Peru's f ishmeal industry set for bumper profits - Production survived last year's El Nino visitation to reach a fresh record By SALLY BO WEN THE PERUVIAN fishmeal industry is gearing up for a bona nza predicted to last for the next two to three years. By late 1992, the sar dine and anchovy that form the staple raw material for the industry were bac k in abundance after being temporarily affected by the appearance of the dre aded warm current known as 'El Nino', which last ravaged fishmeal output in 1983. Contrary to predictions, however, Peruvian production survived last ye ar's milder visitation and a late boost in fish stocks turned 1992 into yet another record year. Peru topped the world exporters' league with 1.37m tonn es, narrowly outstripping Chile's 1.21m tonnes. 'Statistically, the years af ter a Nino are excellent,' says Mr Espino of Imarpe, Peru's maritime institu te, which is charged with husbanding the resource and recommending periodic fishing bans. Mr Espino estimates that the Peruvian catch could be raised by a quarter or a third from the present 6m tonnes a year without detriment to the species. 'And if the fishmeal producers started going for jack mackerel - at present only about 80,000 tonnes a year are landed, perhaps 5 per cent of total stocks - then the sky's the limit,' he says. The main limitation o n such expansion is fleet capacity. Most Peruvian fishing boats are small, w ith no refrigeration and hug the coast. When El Nino hits, the fish move int o deeper waters farther out to sea where these boats cannot follow. Peruvian producers say they have invested more than Dollars 200m in the past two yea rs in fleet renovation and plant and equipment modernisation ashore. The ind ustry is moving towards production of higher-quality, low temperature, steam -dried meal with 'stickwater' plants to maximise protein recovery. New boats with refrigerated holds are under construction in local yards. But there's still plenty of room, and a warm welcome waiting, for new investment from ab road. Representatives from Chile's huge Angelini group have been in Peru rec ently on 'feeling-out' visits. And Venezuelan capital has already entered in the form of a new fishmeal joint venture under the name of Palangrera Perua na. But the big surprise of 1993 could be the arrival of the Chinese. Pesca Peru, the state-owned fishmeal and fishoil giant that produces around 40 per cent of all national output, is high on this year's privatisation list. Coo pers and Lybrand, with financing from the Canadian development agency and th e World Bank, is currently completing a valuation and will recommend on sale procedures. Essentially, the choice is between splitting the company into i ts 20 plants and four refineries to sell off individually; or selling the wh ole company as one unit. The only likely buyers on the latter basis would be the Chinese - 'and it's a possibility that has the private producers in a s tate of panic', says Mr Eric Topf, head of the Pesca Peru privatisation comm ittee. Unofficially, senior Pesca Peru officials say the company should fetc h 'at least Dollars 200m', a ball-park figure considered over-optimistic by private producers. The state-owned plants are, by and large, elderly and out dated - though several are excellently located on the now-desirable extreme southern coast and have their own quays. Drastic personnel reductions during 1992 put Pesca Peru back into profit after years in the red, underlining ju st how profitable producing fishmeal can be, even from scrap-yard plants. Ch ina has established itself as far and away Peru's largest customer, buying l ast year almost 60 per cent of all output. Peruvian fishmeal goes to feed th e Pacific prawn, turbot and eel which China is successfully exporting in qua ntity to the US and Japan. The Chinese are said to be producing at present s ome 32m tonnes of animal foodstuffs a year, in which they use 2 per cent fis hmeal - a very low percentage compared with most competitors. A high-level P eruvian delegation is now in China 'to try to convince them of the bounties of boosting that fishmeal component,' says Mr Salomon Manzur, Peruvian presi dent of the Fishmeal Exporters' Association. If the Chinese do increase the percentage of fishmeal in their current animal feedstuff production, Peruvia n producers will be assured of sales for their expanded fishmeal output for several years to come. ---------------------------------------------------- - FISHMEAL PRODUCTION ('000 TONNES) --------------------------------------- -------------- 1990 1991 1992 ------------------ ----------------------------------- Peruvian Pesca Peru 379 4 98 513 Private sector 755 782 853 Total 1,1 34 1,280 1,366 ----------------------------------------------------- Ch ilean 1,550 1,210 ----------------------------------- ------------------ Source: Peruvian National Fishing Society (SNP). ------- ---------------------------------------------- Countries:- PEZ Peru, South America. Industries:- P0919 Misc ellaneous Marine Products. Types:- MKTS Production. The Financial Times London Page 26 ============= Transaction # 46 ============================================== Transaction #: 46 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:45:19 Selec. Rec. #: 10 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-14235 _AN-CDHB2AAMFT 920 407 FT 07 APR 92 / Drought pulls the plug on much of Col ombia By SARITA KENDALL BOGO TA POWER cuts of at least eight hours a day have been imp osed all over Colombia in an effort to cope with a drought that has reduced the water for hydro electric plants. There is little prospect of rain, and r eservoirs are drying into baked mud. If this continues the country could fac e a complete black-out by the end of April. The winter rains are late and th e El Nino current off the Pacific coast appears to be upsetting normal weath er patterns. But bad planning, heavy debts, corruption, budget deficits, def orestation and poor management are behind the electricity problems. Colombia 's generating capacity is 8,200MW, more than adequate for normal demand leve ls. Despite the country's ample coal and oil reserves, 78 per cent of power comes from large, expensive hydro-electric schemes which have pushed the sec tor's foreign debt up to more than Dollars 5bn. To try to save on costs, ele ctricity companies have been running down the reservoirs rather than use the rmal plants at full capacity. Labour and financial problems have also delaye d the maintenance of thermal power stations, while guerrilla attacks have pu t distribution lines out of action. The rationing aims to cut overall consum ption by about a third. The government has asked industry to shut down for 1 0 days over Easter and to send workers on holiday. The Financia l Times International Page 6 ============= Transaction # 47 ============================================== Transaction #: 47 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:45:23 Selec. Rec. #: 10 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-14235 _AN-CDHB2AAMFT 920 407 FT 07 APR 92 / Drought pulls the plug on much of Col ombia By SARITA KENDALL BOGO TA POWER cuts of at least eight hours a day have been imp osed all over Colombia in an effort to cope with a drought that has reduced the water for hydro electric plants. There is little prospect of rain, and r eservoirs are drying into baked mud. If this continues the country could fac e a complete black-out by the end of April. The winter rains are late and th e El Nino current off the Pacific coast appears to be upsetting normal weath er patterns. But bad planning, heavy debts, corruption, budget deficits, def orestation and poor management are behind the electricity problems. Colombia 's generating capacity is 8,200MW, more than adequate for normal demand leve ls. Despite the country's ample coal and oil reserves, 78 per cent of power comes from large, expensive hydro-electric schemes which have pushed the sec tor's foreign debt up to more than Dollars 5bn. To try to save on costs, ele ctricity companies have been running down the reservoirs rather than use the rmal plants at full capacity. Labour and financial problems have also delaye d the maintenance of thermal power stations, while guerrilla attacks have pu t distribution lines out of action. The rationing aims to cut overall consum ption by about a third. The government has asked industry to shut down for 1 0 days over Easter and to send workers on holiday. The Financia l Times International Page 6 ============= Transaction # 48 ============================================== Transaction #: 48 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:46:01 Selec. Rec. #: 11 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-12623 _AN-CDPBOADHFT 920 416 FT 16 APR 92 / Commodities and Agriculture: Supply f ears buoy sugar prices By DAVID BLACKWELL FEARS OF a tighter sugar supply/demand balance in 1992-93 are support ing the world market, according to reports from two London trade houses. Raw sugar prices have recently touched eight-month highs, nudging 10 cents a lb in the New York market, on fears of tight nearby supplies following damage to the South African crop because of drought. The trade houses, ED & F. Man and Czarnikow, both point out in reports published today that in the short t erm the changing export potential in several countries will keep the lid on prices. The increasing likelihood of a 1m-tonne increase in Thailand's crop, compared with the previous season, together with the availability of export able surpluses from India and Cuba, should 'keep significant advances at bay ', Man's latest sugar report says. Man believes that reports of a catastroph ic Cuban crop this season at 5m to 5.5m tonnes are unsupported by the eviden ce and estimates that the crop will come in at about 6.5m tonnes. It is fore casting a crop of more than 5m tonnes in Thailand and 12.6m tonnes in India. The overall balance for the 1991-92 season remains marginally in surplus, M an says, but it suggests that the situation is likely to be even more tightl y balanced in 1992-93. Czarnikow's sugar review points out that the extent o f the South African drought has raised questions about the timing and covera ge of the El Nino weather phenomenon. 'Already a major drought is developing in Thailand which, if relief does not arrive this month, could have serious implications for the next crop,' the Czarnikow review says. 'If this is par t of a regional phenomenon there might be problems later in the year with th e monsoon in India and this will need to be monitored carefully.'

The Financial Times London Page 38 ============= Transaction # 49 ============================================== Transaction #: 49 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:46:05 Selec. Rec. #: 11 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-12623 _AN-CDPBOADHFT 920 416 FT 16 APR 92 / Commodities and Agriculture: Supply f ears buoy sugar prices By DAVID BLACKWELL FEARS OF a tighter sugar supply/demand balance in 1992-93 are support ing the world market, according to reports from two London trade houses. Raw sugar prices have recently touched eight-month highs, nudging 10 cents a lb in the New York market, on fears of tight nearby supplies following damage to the South African crop because of drought. The trade houses, ED & F. Man and Czarnikow, both point out in reports published today that in the short t erm the changing export potential in several countries will keep the lid on prices. The increasing likelihood of a 1m-tonne increase in Thailand's crop, compared with the previous season, together with the availability of export able surpluses from India and Cuba, should 'keep significant advances at bay ', Man's latest sugar report says. Man believes that reports of a catastroph ic Cuban crop this season at 5m to 5.5m tonnes are unsupported by the eviden ce and estimates that the crop will come in at about 6.5m tonnes. It is fore casting a crop of more than 5m tonnes in Thailand and 12.6m tonnes in India. The overall balance for the 1991-92 season remains marginally in surplus, M an says, but it suggests that the situation is likely to be even more tightl y balanced in 1992-93. Czarnikow's sugar review points out that the extent o f the South African drought has raised questions about the timing and covera ge of the El Nino weather phenomenon. 'Already a major drought is developing in Thailand which, if relief does not arrive this month, could have serious implications for the next crop,' the Czarnikow review says. 'If this is par t of a regional phenomenon there might be problems later in the year with th e monsoon in India and this will need to be monitored carefully.'

The Financial Times London Page 38 ============= Transaction # 50 ============================================== Transaction #: 50 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:46:15 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 33 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 51 ============================================== Transaction #: 51 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:46:54 Selec. Rec. #: 15 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-5507 _AN-CE3AGABIFT 9205 30 FT 30 MAY 92 / The Long View: Going for the jugular < /HEADLINE> By BARRY RILEY WHENEVER I meet Fring e Freddie, I know I am going to start worrying. It's catching. Either he is getting ready for the biggest boom ever known, or the biggest crash. A quiet life never comes into it. Right now, he is in one of his apocalyptic phases . I occasionally run into Freddie at slightly offbeat investment seminars. T hese are, I must emphasise, perfectly respectable occasions - nothing at all like those international gatherings in places like Monte Carlo or Acapulco where every weird investment prophet and nutty newsletter editor in the worl d is gathered. They rant at geriatric American investors who can be persuade d to pay Dollars 5,000 to enjoy two days of skilful manipulation of their on ly remaining emotions of greed and fear - in between naps, of course. Freddi e is in his element in those places. But he can once in a while come in from the fringe. The previous time I bumped into Freddie, he was heavily into gl obal weather patterns. El Nino was developing again in the South Pacific. I gathered it was some kind of surface warming effect which kills all the fish off South America and then spreads drought and famine across large areas of the globe. Freddie's eyes lit up at the thought. He was going heavily long of agricultural commodities on the Chicago markets. Potatoes would be like g old dust. This week, I dropped into a seemingly harmless seminar on long-ter m cycles and was buttonholed by Freddie again at coffee time. El Nino? He se emed to have lost interest in Pacific sea temperatures. Evidently, those fut ures contracts had drifted out of the money. Now he was into NT, which he pa tiently explained was Nostradamus Theory. Did I know that a new team of Nost radamus analysts had finally cracked the mystery of the old mystic's code? F uture disasters were being set out on an accurate timetable so that those in vestors in the know could take maximum advantage. I said I was a bit hazy ab out Nostradamus, although I was aware that the International Harry Shultz Le tter had confessed to an error in its last issue. Apparently, the catastroph ic Californian earthquake it had forecast on an interpretation of Nostradamu s for May 8 1992 was wrong; it should have said May 8 1993. San Diego would still slide into the sea, but a year late. You had better not go to Disneyla nd about that time, either. Possibly Freddie twigged that I was not taking h im entirely seriously, but he pressed on. Did I not realise that the US econ omy was twice as debt-ridden as it had ever been? Was I not aware that the J apanese financial system was already technically insolvent, and that there w ere exact parallels between the Wall Street slide and subsequent American sl ump from 1929 onwards and the Toyko market slide beginning in 1990? Had I no t noticed that Germany . . . Look, I said, I knew some of the numbers didn't look too good, but the global economy was still growing and over the years I had read more than my fair ration of books by gloom and doom merchants. As far back as 1984, the Kondratieff Wave theorists had been forecasting an im minent slump. In fact, the world stayed in a long boom. Then there was Ravi Batra, who made a fortune out of The Great Depression of 1990. However, ther e was no depression in 1990, just a recession in 1991, while Wall Street in 1992 is hitting all-time highs. Britain's own Lord Rees-Mogg, taking time ou t from cleaning up television, had got in on the act with a co-authored fina ncial spinechiller called Blood in the Streets and, when that proved prematu re, managed to get out a sequel called The Great Reckoning earlier this year . It had all been good for royalty receipts but not for credibility. Freddie was distinctly unimpressed. Hadn't I seen what was happening to property va lues worldwide? Or the 60 per cent collapse of what had been the world's big gest stock market in Tokyo? Or the dreadful economic slump in eastern Europe ? What was happening in western stock markets was just the last gasp of the old order. What I had missed, he said, becoming more excitable by the minute , was the importance of the combination of the 54-year Kondratieff Wave with the seven- to 11-year Juglar cycle, not to mention the intermediary Kuznets cycle. After all, the Kondratieff could last as long as 60 years: what did 1932 plus 60 add up to? Put all the cycles together and you could have a tri ple whammy for the early 1990s. This was all getting beyond me, although I m urmured that I remembered that Batra had discussed something called the Jugu lar Cycle in his book. Either his spelling was wrong or he was talking about blood in the streets, too. I wished Freddie had stuck to his Peruvian fish famine. I should never have got back to the weather. Global warming, apparen tly, was the latest theme to arise from NT Why, Nostradamus himself had warn ed that a great tide would arise in a second Great Flood and the hot wind wo uld blow as from hell itself. The date? Well, the interpreters hadn't quite decided yet, but it wouldn't be very long. We should be selling all energy s tocks on the grounds that governments would soon be doubling gasoline taxes and banning emissions. Commodity markets would be transformed as food crops were devastated. By now the gleam was really back in his eyes. The long-term punter should be buying land at least 10 metres above existing sea level, w aiting for values to soar as millions were driven out of beachside settlemen ts by the advancing waters. Except in California, of course, which was all g oing to slide into a geological fault . . . I made an excuse and left. The F reddie Cycle was clearly testing its low point. But, in my experience, it ne ver stays down for long. The Financial Times Lond on Page I ============= Transaction # 52 ============================================== Transaction #: 52 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:46:58 Selec. Rec. #: 15 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-5507 _AN-CE3AGABIFT 9205 30 FT 30 MAY 92 / The Long View: Going for the jugular < /HEADLINE> By BARRY RILEY WHENEVER I meet Fring e Freddie, I know I am going to start worrying. It's catching. Either he is getting ready for the biggest boom ever known, or the biggest crash. A quiet life never comes into it. Right now, he is in one of his apocalyptic phases . I occasionally run into Freddie at slightly offbeat investment seminars. T hese are, I must emphasise, perfectly respectable occasions - nothing at all like those international gatherings in places like Monte Carlo or Acapulco where every weird investment prophet and nutty newsletter editor in the worl d is gathered. They rant at geriatric American investors who can be persuade d to pay Dollars 5,000 to enjoy two days of skilful manipulation of their on ly remaining emotions of greed and fear - in between naps, of course. Freddi e is in his element in those places. But he can once in a while come in from the fringe. The previous time I bumped into Freddie, he was heavily into gl obal weather patterns. El Nino was developing again in the South Pacific. I gathered it was some kind of surface warming effect which kills all the fish off South America and then spreads drought and famine across large areas of the globe. Freddie's eyes lit up at the thought. He was going heavily long of agricultural commodities on the Chicago markets. Potatoes would be like g old dust. This week, I dropped into a seemingly harmless seminar on long-ter m cycles and was buttonholed by Freddie again at coffee time. El Nino? He se emed to have lost interest in Pacific sea temperatures. Evidently, those fut ures contracts had drifted out of the money. Now he was into NT, which he pa tiently explained was Nostradamus Theory. Did I know that a new team of Nost radamus analysts had finally cracked the mystery of the old mystic's code? F uture disasters were being set out on an accurate timetable so that those in vestors in the know could take maximum advantage. I said I was a bit hazy ab out Nostradamus, although I was aware that the International Harry Shultz Le tter had confessed to an error in its last issue. Apparently, the catastroph ic Californian earthquake it had forecast on an interpretation of Nostradamu s for May 8 1992 was wrong; it should have said May 8 1993. San Diego would still slide into the sea, but a year late. You had better not go to Disneyla nd about that time, either. Possibly Freddie twigged that I was not taking h im entirely seriously, but he pressed on. Did I not realise that the US econ omy was twice as debt-ridden as it had ever been? Was I not aware that the J apanese financial system was already technically insolvent, and that there w ere exact parallels between the Wall Street slide and subsequent American sl ump from 1929 onwards and the Toyko market slide beginning in 1990? Had I no t noticed that Germany . . . Look, I said, I knew some of the numbers didn't look too good, but the global economy was still growing and over the years I had read more than my fair ration of books by gloom and doom merchants. As far back as 1984, the Kondratieff Wave theorists had been forecasting an im minent slump. In fact, the world stayed in a long boom. Then there was Ravi Batra, who made a fortune out of The Great Depression of 1990. However, ther e was no depression in 1990, just a recession in 1991, while Wall Street in 1992 is hitting all-time highs. Britain's own Lord Rees-Mogg, taking time ou t from cleaning up television, had got in on the act with a co-authored fina ncial spinechiller called Blood in the Streets and, when that proved prematu re, managed to get out a sequel called The Great Reckoning earlier this year . It had all been good for royalty receipts but not for credibility. Freddie was distinctly unimpressed. Hadn't I seen what was happening to property va lues worldwide? Or the 60 per cent collapse of what had been the world's big gest stock market in Tokyo? Or the dreadful economic slump in eastern Europe ? What was happening in western stock markets was just the last gasp of the old order. What I had missed, he said, becoming more excitable by the minute , was the importance of the combination of the 54-year Kondratieff Wave with the seven- to 11-year Juglar cycle, not to mention the intermediary Kuznets cycle. After all, the Kondratieff could last as long as 60 years: what did 1932 plus 60 add up to? Put all the cycles together and you could have a tri ple whammy for the early 1990s. This was all getting beyond me, although I m urmured that I remembered that Batra had discussed something called the Jugu lar Cycle in his book. Either his spelling was wrong or he was talking about blood in the streets, too. I wished Freddie had stuck to his Peruvian fish famine. I should never have got back to the weather. Global warming, apparen tly, was the latest theme to arise from NT Why, Nostradamus himself had warn ed that a great tide would arise in a second Great Flood and the hot wind wo uld blow as from hell itself. The date? Well, the interpreters hadn't quite decided yet, but it wouldn't be very long. We should be selling all energy s tocks on the grounds that governments would soon be doubling gasoline taxes and banning emissions. Commodity markets would be transformed as food crops were devastated. By now the gleam was really back in his eyes. The long-term punter should be buying land at least 10 metres above existing sea level, w aiting for values to soar as millions were driven out of beachside settlemen ts by the advancing waters. Except in California, of course, which was all g oing to slide into a geological fault . . . I made an excuse and left. The F reddie Cycle was clearly testing its low point. But, in my experience, it ne ver stays down for long. The Financial Times Lond on Page I ============= Transaction # 53 ============================================== Transaction #: 53 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:47:26 Selec. Rec. #: 16 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-643 _AN-CFZBBAD9FT 92062 6 FT 26 JUN 92 / Commodities and Agriculture: Flooded Bo livian farmers on hunger strike By FRANCIS FREISINGE R SANTA CRUZ THE BOLIVIAN Eastern Farmers Chamber (CAO) has declared an indefinite hunger strike in protest a t the lack of government aid in the wake of the agricultural disaster that h as struck the Santa Cruz department as a result of months of flooding. Peasa nt groups have announced other measures in support of the CAO - including ro ad blocks - and a regional general strike may follow. Santa Cruz in the east of the country, which produces 90 per cent of Bolivia's agricultural export s, principally soyabeans and sugar, has been devastated since January by the worst floods in living memory. At least a third and possibly as much as hal f the crop has been lost already and the sowing of the next crop has been se riously disrupted, the losses will continue for another harvest. At least Do llars l00m has been lost to date, a vast sum for Bolivia. As a result there will be a marked reduction in GNP growth this year according to economists. Nearly a hundred farmers from the CAO have joined the hunger strike, includi ng some of the wealthiest men in the country, and as many as 500 more are po ised to follow. In a remarkable development, the hardline right-wing farmers have literally become bedfellows with their traditional enemy, the Bolivian Workers' Central (COB), the national union confederation which still adhere s, at least in theory, to a revolutionary Marxist ideology. Some of COB lead ers have joined the hunger strike and are now sleeping in the same room as t he farmers. The farmers are calling for much more direct government and inte rnational assistance as well as rescheduling of loans from both private bank s and multinational institutions, principally the Inter-American Development Bank. They are demanding special help for the smaller farmers, worst hit fi nancially because of their lack of access to credit, as a result of which th ousands face bankruptcy. The CAO President, Mr Sergio Justiniano said: 'We w ill remain on hunger strike until a global solution is found'. The flooding is partly the result of exceptionally heavy rains that have accompanied the El Nino cyclical Pacific weather phenomenon, which has also brought flooding this year to Peru and Ecuador. However, according to ecologists, the effect has been exacerbated in Bolivia by the extensive deforestation that has acc ompanied the agricultural boom of the past few years Despite officially decl aring the region a disaster zone, the government claims that it is unable to help. Mr Hugo Lozino, minister of peasant development said: 'We have done w hat we can. Bolivia is a poor country and can't afford to do more'. It seems unlikely, however, that the government will be able to resist the powerful alliance confronting it, especially as it faces unrest in other key sectors, including mining. The Financial Times London Pag e 30 ============= Transaction # 54 ============================================== Transaction #: 54 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:47:31 Selec. Rec. #: 16 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT922-643 _AN-CFZBBAD9FT 92062 6 FT 26 JUN 92 / Commodities and Agriculture: Flooded Bo livian farmers on hunger strike By FRANCIS FREISINGE R SANTA CRUZ THE BOLIVIAN Eastern Farmers Chamber (CAO) has declared an indefinite hunger strike in protest a t the lack of government aid in the wake of the agricultural disaster that h as struck the Santa Cruz department as a result of months of flooding. Peasa nt groups have announced other measures in support of the CAO - including ro ad blocks - and a regional general strike may follow. Santa Cruz in the east of the country, which produces 90 per cent of Bolivia's agricultural export s, principally soyabeans and sugar, has been devastated since January by the worst floods in living memory. At least a third and possibly as much as hal f the crop has been lost already and the sowing of the next crop has been se riously disrupted, the losses will continue for another harvest. At least Do llars l00m has been lost to date, a vast sum for Bolivia. As a result there will be a marked reduction in GNP growth this year according to economists. Nearly a hundred farmers from the CAO have joined the hunger strike, includi ng some of the wealthiest men in the country, and as many as 500 more are po ised to follow. In a remarkable development, the hardline right-wing farmers have literally become bedfellows with their traditional enemy, the Bolivian Workers' Central (COB), the national union confederation which still adhere s, at least in theory, to a revolutionary Marxist ideology. Some of COB lead ers have joined the hunger strike and are now sleeping in the same room as t he farmers. The farmers are calling for much more direct government and inte rnational assistance as well as rescheduling of loans from both private bank s and multinational institutions, principally the Inter-American Development Bank. They are demanding special help for the smaller farmers, worst hit fi nancially because of their lack of access to credit, as a result of which th ousands face bankruptcy. The CAO President, Mr Sergio Justiniano said: 'We w ill remain on hunger strike until a global solution is found'. The flooding is partly the result of exceptionally heavy rains that have accompanied the El Nino cyclical Pacific weather phenomenon, which has also brought flooding this year to Peru and Ecuador. However, according to ecologists, the effect has been exacerbated in Bolivia by the extensive deforestation that has acc ompanied the agricultural boom of the past few years Despite officially decl aring the region a disaster zone, the government claims that it is unable to help. Mr Hugo Lozino, minister of peasant development said: 'We have done w hat we can. Bolivia is a poor country and can't afford to do more'. It seems unlikely, however, that the government will be able to resist the powerful alliance confronting it, especially as it faces unrest in other key sectors, including mining. The Financial Times London Pag e 30 ============= Transaction # 55 ============================================== Transaction #: 55 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:48:38 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 33 Help Code: 0 # Displayed: 9 Help ID: 0 Associated Variable Length Text: ============= Transaction # 56 ============================================== Transaction #: 56 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:48:53 Selec. Rec. #: 25 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-5191 _AN-CCEBQAC7FT 9203 05 FT 05 MAR 92 / Commodities and Agriculture: Ecuador s hells out on shrimp farming - The consequences of declining fish stocks and over-investment By SARITA KENDALL E cuador's shrimp farming business had another record year in 1991 as the gap with other fishing exports widened. Groups within the industry, unwilling to acknowledge over-fishing, accuse each other of irrational practices or blam e dwindling catches on climate and ocean currents. 'We've seen this happen i n other countries - with herring in the North Sea, and anchovy in Peru,' sai d Mr Ian Scott, the economist in charge of Britain's technical assistance pr ogramme for the fishing sector. 'There's been over-investment. If the Ecuado rian fleet fishes for 150 days a year at 50 per cent efficiency, it can catc h 3m tonnes - but the sustainable stock of pelagic fish is only 500,000 to 1 m tonnes.' In the last few years fishermen supplying the fishmeal and cannin g industries have seen a drastic drop in the harvest of sardines, mackerel, thread herring and anchovies: the catch fell from 1,970,000 tonnes in 1985 t o 233,000 tonnes in 1990, leaving many processing plants working at less tha n 20 per cent of capacity. Mr Scott said that although the warm southward-fl owing El Nino current was responsible for two bad years, the general decline was due to over-fishing and licences and quota systems were needed to help stocks recover. The tuna industry, centred in Manta, is also overblown, but the catch has remained stable at 50,000 to 55,000 tonnes a year. Both Ecuado rian and foreign boats fish for tuna. Local fishermen criticise the fact tha t boats registered in the US, Japan and other countries are contracted by Ma nta processing companies. However, it is argued that only some of the vessel s in the national fleet can freeze tuna to -40C, the temperature necessary f or good quality exports. The under-secretary for fishing, Mr Max Aguirre, is proud of Ecuador's record on the dolphin-tuna issue. 'The Ecuadorian law is strict. Ecuadorian and foreign boats have their licences taken away if they fish on dolphins. I report with satisfaction that in 43 trips with observer s on board there were zero dolphin deaths.' Mr Aguirre admits that research studies warned of sardine fishing problems, and says regional controls, incl uding Peru and Chile, should be enforced. 'Licences should regulate the catc h with reference to the resource.' However, the private sector has been too powerful and the government too timid to allow any quota-based management of stocks. The fish sector earned about USDollars 570m in 1991, with shrimps c ontributing more than 85 per cent. There are more than 125,000 hectares of s hrimp ponds along the tidal flats of the Ecuadorian coastline, mainly in the southern provinces. Most shrimp farms are less than 50 hectares, though the largest - up to as much as 2,000 hectares - tend to be the most sophistica ted. Some use small aircraft to drop feed over the surface of the ponds. Shr imp farms produce all year round so close to the equator and two to three ha rvests can be taken. With an ideal climate, plentiful larvae and low-labour costs, Ecuador is the leading Latin American shrimp exporter. 'Our problem a t the moment is the big jump in the cost of inputs. The dollar price of shri mps has dropped and so has profitability,' said Mr Renato del Campo of the C hamber of Shrimp Producers in Guayaquil. 'But there are markets - the US is still attractive and we are diversifying into Europe, especially Spain.' Exp orts have risen from 10,000 tonnes in 1980 to more than 78,000 tonnes in 199 1, and the need for more space and more larvae has led to conflict with envi ronmental groups, particularly over the clearing of mangroves. Most shrimps are bred from wild larvae caught by thousands of seasonal fishermen, but mor e than 100 laboratories have been started up in recent years, with some expo rting larvae to Colombia. Although the shrimp fishing industry is small, acc ounting for less than 10 per cent of production, wild shrimp provide importa nt breeding stocks for the laboratories. The sector expanded dangerously fas t - from about 2,000 to 9,000 boats - in the 1980s and over-fishing is beco ming a serious problem within a few miles of the coast. Many of the boats ar e dug-out canoes based in small communities. 'We need to teach people to tak e better care of the fish, then they'll also improve their income. There sho uld be ice available, and we need to encourage marketing co-operatives,' sai d Mr Aguirre. The British aid project, which is now ending after 12 years, h as helped the National Fisheries Institute to build up data on biology, prod uct development, marketing and management. Ecuador has a stronger basis for planning resource use than many other countries. 'There isn't any room for g rowth in the existing industry - it needs reducing and consolidating,' said Mr. Scott. The Financial Times London Page 30

============= Transaction # 57 ============================================== Transaction #: 57 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:48:57 Selec. Rec. #: 25 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-5191 _AN-CCEBQAC7FT 9203 05 FT 05 MAR 92 / Commodities and Agriculture: Ecuador s hells out on shrimp farming - The consequences of declining fish stocks and over-investment By SARITA KENDALL E cuador's shrimp farming business had another record year in 1991 as the gap with other fishing exports widened. Groups within the industry, unwilling to acknowledge over-fishing, accuse each other of irrational practices or blam e dwindling catches on climate and ocean currents. 'We've seen this happen i n other countries - with herring in the North Sea, and anchovy in Peru,' sai d Mr Ian Scott, the economist in charge of Britain's technical assistance pr ogramme for the fishing sector. 'There's been over-investment. If the Ecuado rian fleet fishes for 150 days a year at 50 per cent efficiency, it can catc h 3m tonnes - but the sustainable stock of pelagic fish is only 500,000 to 1 m tonnes.' In the last few years fishermen supplying the fishmeal and cannin g industries have seen a drastic drop in the harvest of sardines, mackerel, thread herring and anchovies: the catch fell from 1,970,000 tonnes in 1985 t o 233,000 tonnes in 1990, leaving many processing plants working at less tha n 20 per cent of capacity. Mr Scott said that although the warm southward-fl owing El Nino current was responsible for two bad years, the general decline was due to over-fishing and licences and quota systems were needed to help stocks recover. The tuna industry, centred in Manta, is also overblown, but the catch has remained stable at 50,000 to 55,000 tonnes a year. Both Ecuado rian and foreign boats fish for tuna. Local fishermen criticise the fact tha t boats registered in the US, Japan and other countries are contracted by Ma nta processing companies. However, it is argued that only some of the vessel s in the national fleet can freeze tuna to -40C, the temperature necessary f or good quality exports. The under-secretary for fishing, Mr Max Aguirre, is proud of Ecuador's record on the dolphin-tuna issue. 'The Ecuadorian law is strict. Ecuadorian and foreign boats have their licences taken away if they fish on dolphins. I report with satisfaction that in 43 trips with observer s on board there were zero dolphin deaths.' Mr Aguirre admits that research studies warned of sardine fishing problems, and says regional controls, incl uding Peru and Chile, should be enforced. 'Licences should regulate the catc h with reference to the resource.' However, the private sector has been too powerful and the government too timid to allow any quota-based management of stocks. The fish sector earned about USDollars 570m in 1991, with shrimps c ontributing more than 85 per cent. There are more than 125,000 hectares of s hrimp ponds along the tidal flats of the Ecuadorian coastline, mainly in the southern provinces. Most shrimp farms are less than 50 hectares, though the largest - up to as much as 2,000 hectares - tend to be the most sophistica ted. Some use small aircraft to drop feed over the surface of the ponds. Shr imp farms produce all year round so close to the equator and two to three ha rvests can be taken. With an ideal climate, plentiful larvae and low-labour costs, Ecuador is the leading Latin American shrimp exporter. 'Our problem a t the moment is the big jump in the cost of inputs. The dollar price of shri mps has dropped and so has profitability,' said Mr Renato del Campo of the C hamber of Shrimp Producers in Guayaquil. 'But there are markets - the US is still attractive and we are diversifying into Europe, especially Spain.' Exp orts have risen from 10,000 tonnes in 1980 to more than 78,000 tonnes in 199 1, and the need for more space and more larvae has led to conflict with envi ronmental groups, particularly over the clearing of mangroves. Most shrimps are bred from wild larvae caught by thousands of seasonal fishermen, but mor e than 100 laboratories have been started up in recent years, with some expo rting larvae to Colombia. Although the shrimp fishing industry is small, acc ounting for less than 10 per cent of production, wild shrimp provide importa nt breeding stocks for the laboratories. The sector expanded dangerously fas t - from about 2,000 to 9,000 boats - in the 1980s and over-fishing is beco ming a serious problem within a few miles of the coast. Many of the boats ar e dug-out canoes based in small communities. 'We need to teach people to tak e better care of the fish, then they'll also improve their income. There sho uld be ice available, and we need to encourage marketing co-operatives,' sai d Mr Aguirre. The British aid project, which is now ending after 12 years, h as helped the National Fisheries Institute to build up data on biology, prod uct development, marketing and management. Ecuador has a stronger basis for planning resource use than many other countries. 'There isn't any room for g rowth in the existing industry - it needs reducing and consolidating,' said Mr. Scott. The Financial Times London Page 30

============= Transaction # 58 ============================================== Transaction #: 58 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:49:37 Selec. Rec. #: 29 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT931-13401 _AN-DAXAVADOFT 930 123 FT 23 JAN 93 / World Stock Markets: De Beers gives J SE a buoyant start to 1993 - But economic hopes are muted By PHILIP GAWITH Just as the collapse last August in De Beers' share price was an important factor in driving down the Johannesbu rg Stock Exchange, so its recent recovery has helped get the market off to a buoyant start in 1993. The overall index has risen by about 4 per cent in t he first three weeks, having closed 1992 down 5.3 per cent on the year. The index closed yesterday up 22 at 3,404. Much of this year's rise can be attri buted to De Beers, which accounts for some 10 per cent of total volume and 5 per cent of market capitalisation. The shares have risen by 16 per cent sin ce the start of the year, closing yesterday at R68.25, after finishing 1992 at R57.50. This improvement is mainly attributable to better than expected r ough diamond sales by the Central Selling Organisation during 1992, and indi cations that the problem of excess supply from Angola and Russia has eased. The industrial index has also started the year strongly, up 4 per cent, afte r a 4.6 per cent gain in the whole of 1992, which followed a strong 39 per c ent rise the previous year. Mr Richard Jesse, an analyst at brokers Martin & Co partly attributes this good start to the, by now, 'tedious litany' of th e market's scrip shortage. Nevertheless, most observers believe that 1993 wi ll be a better year on the JSE than 1992. To some extent, this view is suppo rted by improved political and economic fundamentals. While the speed of pol itical negotiation is rather slow all those involved are aware that the coun try cannot afford a repeat of the damaging political hiatus which followed t he failure of the Codesa 2 talks in May and the Boipatong massacre in June. Economic expectations, however, are muted: the weather pattern in recent wee ks has led to renewed fears that the El Nino phenomenon, associated with the severe drought of 1991-92, has reappeared. Last year, for instance, the dro ught shaved nearly 2 percentage points off GDP growth. The expectation remai ns, however, of positive growth in 1993 of around 1.5 per cent (GDP shrunk b y about 2 per cent in 1992), on hopes of a better agricultural season and im proved commodity exports as world growth improves. The earnings prospects of industrial companies remains gloomy. Most companies that have reported rece ntly have predicted a drop in profits and there is little expectation of imp roved corporate profits before 1994. In spite of these rather pale fundament als, Mr Jesse is predicting a rerating of the market. He believes that the F inancial and Industrial index, currently on a price/earnings ratio of 14.9 t imes, down from a peak of some 15.5 in 1992, could rise to more than 16 this year. He gives two main reasons for this forecast, apart from the improved political prospects. First, the absence of alternatives: property returns ar e expected to fall in 1993, while money market rates which are in line with inflation, and likely to fall with interest rates, are hardly attractive. Ca pital markets are also a difficult route because, while the probable short-t erm decline in inflation, which currently stands at about 11 per cent, is po sitive, this is counterbalanced by concerns about the size of the government 's budget deficit and prospects of a relaxation in fiscal policy under an in terim government. Second, Mr Jesse argues that South African fund managers w ill be increasing the equity portion of their portfolios: many of them are u nderweight, holding less than 60 per cent in equities when the limit is as m uch as 75 per cent. One unfashionable area which could receive some of these institutional funds is gold shares which have been sharply downrated over t he past three years as the gold index declined from a peak of 2,250 to curre nt levels of about 800, with a 30 per cent fall in 1992 alone. Mr Mike Wuth, mining analyst at brokers Rice Rinaldi says that this correction has largel y removed the speculative angle from gold. Now, he says, gold has to offer d ecent returns and compete more directly with industrial shares. However few analysts hold out much hope for a higher gold price in the short term and a weakening rand is only likely to offer limited benefit. But one way that pro fits can be improved is through further cost cutting measures and the Decemb er gold quarterly results of mining houses confirm the impressive progress t hat has been made in this direction. With the dividend yield of the gold ind ex having risen to 6.6 per cent from 3.4 per cent three years ago, gold shar es are now offering better value than for a number of years. Mr Wuth forecas ts that foreigners are more likely to be buyers of good shares than local in stitutions. Many of the latter, he argues, are historically overweight in go ld and so are looking for opportunities to lighten their holdings. Overseas institutions, of course, will be wary of the vagaries of the financial rand investment unit, which started 1992 at a discount of 14 per cent to the comm ercial rand and ended at a discount of 37 per cent. But the political outloo k and recent steps taken to bolster the currency, make any further weakening from current levels unlikely. Countries:- ZAZ South Africa, Africa. Industries:- P6231 Security and Commo dity Exchanges. Types:- CMMT Comment and Analysis. MKTS Market Data. The Financial Times London Page 19 ============= Transaction # 59 ============================================== Transaction #: 59 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:49:42 Selec. Rec. #: 29 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT931-13401 _AN-DAXAVADOFT 930 123 FT 23 JAN 93 / World Stock Markets: De Beers gives J SE a buoyant start to 1993 - But economic hopes are muted By PHILIP GAWITH Just as the collapse last August in De Beers' share price was an important factor in driving down the Johannesbu rg Stock Exchange, so its recent recovery has helped get the market off to a buoyant start in 1993. The overall index has risen by about 4 per cent in t he first three weeks, having closed 1992 down 5.3 per cent on the year. The index closed yesterday up 22 at 3,404. Much of this year's rise can be attri buted to De Beers, which accounts for some 10 per cent of total volume and 5 per cent of market capitalisation. The shares have risen by 16 per cent sin ce the start of the year, closing yesterday at R68.25, after finishing 1992 at R57.50. This improvement is mainly attributable to better than expected r ough diamond sales by the Central Selling Organisation during 1992, and indi cations that the problem of excess supply from Angola and Russia has eased. The industrial index has also started the year strongly, up 4 per cent, afte r a 4.6 per cent gain in the whole of 1992, which followed a strong 39 per c ent rise the previous year. Mr Richard Jesse, an analyst at brokers Martin & Co partly attributes this good start to the, by now, 'tedious litany' of th e market's scrip shortage. Nevertheless, most observers believe that 1993 wi ll be a better year on the JSE than 1992. To some extent, this view is suppo rted by improved political and economic fundamentals. While the speed of pol itical negotiation is rather slow all those involved are aware that the coun try cannot afford a repeat of the damaging political hiatus which followed t he failure of the Codesa 2 talks in May and the Boipatong massacre in June. Economic expectations, however, are muted: the weather pattern in recent wee ks has led to renewed fears that the El Nino phenomenon, associated with the severe drought of 1991-92, has reappeared. Last year, for instance, the dro ught shaved nearly 2 percentage points off GDP growth. The expectation remai ns, however, of positive growth in 1993 of around 1.5 per cent (GDP shrunk b y about 2 per cent in 1992), on hopes of a better agricultural season and im proved commodity exports as world growth improves. The earnings prospects of industrial companies remains gloomy. Most companies that have reported rece ntly have predicted a drop in profits and there is little expectation of imp roved corporate profits before 1994. In spite of these rather pale fundament als, Mr Jesse is predicting a rerating of the market. He believes that the F inancial and Industrial index, currently on a price/earnings ratio of 14.9 t imes, down from a peak of some 15.5 in 1992, could rise to more than 16 this year. He gives two main reasons for this forecast, apart from the improved political prospects. First, the absence of alternatives: property returns ar e expected to fall in 1993, while money market rates which are in line with inflation, and likely to fall with interest rates, are hardly attractive. Ca pital markets are also a difficult route because, while the probable short-t erm decline in inflation, which currently stands at about 11 per cent, is po sitive, this is counterbalanced by concerns about the size of the government 's budget deficit and prospects of a relaxation in fiscal policy under an in terim government. Second, Mr Jesse argues that South African fund managers w ill be increasing the equity portion of their portfolios: many of them are u nderweight, holding less than 60 per cent in equities when the limit is as m uch as 75 per cent. One unfashionable area which could receive some of these institutional funds is gold shares which have been sharply downrated over t he past three years as the gold index declined from a peak of 2,250 to curre nt levels of about 800, with a 30 per cent fall in 1992 alone. Mr Mike Wuth, mining analyst at brokers Rice Rinaldi says that this correction has largel y removed the speculative angle from gold. Now, he says, gold has to offer d ecent returns and compete more directly with industrial shares. However few analysts hold out much hope for a higher gold price in the short term and a weakening rand is only likely to offer limited benefit. But one way that pro fits can be improved is through further cost cutting measures and the Decemb er gold quarterly results of mining houses confirm the impressive progress t hat has been made in this direction. With the dividend yield of the gold ind ex having risen to 6.6 per cent from 3.4 per cent three years ago, gold shar es are now offering better value than for a number of years. Mr Wuth forecas ts that foreigners are more likely to be buyers of good shares than local in stitutions. Many of the latter, he argues, are historically overweight in go ld and so are looking for opportunities to lighten their holdings. Overseas institutions, of course, will be wary of the vagaries of the financial rand investment unit, which started 1992 at a discount of 14 per cent to the comm ercial rand and ended at a discount of 37 per cent. But the political outloo k and recent steps taken to bolster the currency, make any further weakening from current levels unlikely. Countries:- ZAZ South Africa, Africa. Industries:- P6231 Security and Commo dity Exchanges. Types:- CMMT Comment and Analysis. MKTS Market Data. The Financial Times London Page 19 ============= Transaction # 60 ============================================== Transaction #: 60 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:50:02 Selec. Rec. #: 30 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-16395 _AN-CACBJAD4FT 920 103 FT 03 JAN 92 / Commodities and Agriculture: Uncertai nties cloud US farming outlook - Election year politics could again ease gro wers' sufferings By NANCY DUNNE AME RICAN FARMERS are facing a new year as shrouded in uncertainty as any in rec ent times. The collapse of the Soviet Union puts into jeopardy one of their most lucrative markets; trade war with China is looming; and the condition o f the world economy is precarious. Negotiators in the Uruguay Round of the G eneral Agreement on Tariffs and Trade are still deadlocked on farm trade ref orm. Even the course of the El Nino weather phenomenon is confounding expert s, who worry that it could trigger droughts in some areas at a time when US grain stocks are uncomfortably low. At the annual outlook conference of the US Department of Agriculture Department last month, Mr James Donald, head of the USDA's World Agriculture Outlook Board, put an optimistic face on 1992 for American farmers. Global crop production would fall but animal output wo uld grow, creating many more hungry mouths to feed, he said. Higher grain pr ices and an increased volume of wheat, soyabean and horticultural product ex ports would boost the value of farm exports to Dollars 39bn, up 4 per cent f rom 1991, Mr Donald forecast. World commodity demand would increase because of real economic growth of about 2.5 per cent, population growth of 1.7 per cent and a 2 per cent rise in meat output. Meanwhile a 'modest increase' cou ld be expected in input prices. However, the overall result would be cash re turns only 'close' to 1991 levels. Mr Robert McElroy, a USDA agricultural ec onomist, predicted a rise in US wheat prices next year. But he told the conf erence a threatened drop in other grain prices could lead to an overall drop in incomes. That would be a further blow to a sector where bankruptcies are continuing at a brisk pace, although not at the rate of the early 1980s. Mr Mitchell Morehart, another USDA agricultural economist, acknowledged that t he rapid changes in the world had made it 'pretty difficult' to forecast net farm income. The drop in US interest rates would benefit some farmers and a possible fall in fuel prices would also help. Maize is the largest single c omponent of US farmer price receipts and the republics of the former Soviet Union are still the major wild card in the pack. The future of this trade re sts on the willingness of the west to provide financial assistance. If the w est withheld credits mendous,' said Mr Alan Terhaar, executive director of t he US Feed Grains Council. 'The cumulative effect of lack of trade credits t hat would cause the Soviets to fall from the projected level to, for example , 5m tonnes of imports would by the end of 1995-96, could cause a build-up o f 60m tonnes of US feed grains stocks. Wheat stocks would face a similar bui ld-up.' If President Bush took the lead on increasing export guarantees to t he former Soviet republics then the subsequent rise in maize prices could ac tually turn falling farm incomes around. With all the uncertainties, Mr Terh aar expected a 'disappointing' outcome for 1991-92 trade. Although exports t o Mexico had been rising, they were slightly behind expectations of 7.5m ton nes per year by 1995. Furthermore, he was keeping a close watch on proposed changes to Mexico's ejido (communal farm) land tenure system. 'Even two year s ago it would have been inconceivable that Mexico would ever change its eji do system, which dates back to that country's revolution,' Mr Terhaar said. The system had been 'considered an insurmountable impediment' to higher Mexi can production, but a proposal to introduce privatisation into the system co uld have 'far reaching consequences for the make-up of crop and livestock pr oduction'. Mr Terhaar was hopeful about increased exports to Egypt, since US debt forgiveness and an emerging private sector had strengthened the market . Eastern Europe offered some possibility of new markets in the short term b ut it could not afford to buy much. Australia, South Africa and Thailand app eared to be moving away from feed grains exports, but the Asian market posed another concern for the US. Japan's tariff quota on imports of maize for in dustrial processing and layers of regulations and secondary tariffs on feed grain might indicate 'we have simply reached a plateau in Japanese imports. . . or we are entering a period of significant decline'. In Korea the US was facing China as a major competitor, while China was maintaining firm contro l on import volume into the south, where economic growth rates in excess of 20 per cent were causing an explosion in demand. Mr Terhaar was 'bullish' th at China would succumb to economic and political pressures to open its marke t to feed grain imports. Currently it was importing 800,000 tonnes of barley for malt production, and demand was growing by more than 100,000 tonnes a y ear. The likeliest bet is that election year politics will prevail and US fa rmers will not be allowed to suffer unduly in 1992. If history repeats itsel f - and why not? - then the Republican administration and Democratic Congres s will join forces to ensure that the Midwest and the Sunbelt states, major electoral battlegrounds, will get sticking plasters for their pain. Already there have been calls in Congress for export subsidy re-armament. President Bush, facing a tough re-election fight and lagging in the polls, is unlikely to refuse this favoured constituency unless Gatt brings discipline into the trade. The Financial Times London Page 14 Photog raph Maize is the biggest contributor to US farm incomes but Soviet sales ar e in doubt (Omitted). ============= Transaction # 61 ============================================== Transaction #: 61 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:50:13 Selec. Rec. #: 30 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-16395 _AN-CACBJAD4FT 920 103 FT 03 JAN 92 / Commodities and Agriculture: Uncertai nties cloud US farming outlook - Election year politics could again ease gro wers' sufferings By NANCY DUNNE AME RICAN FARMERS are facing a new year as shrouded in uncertainty as any in rec ent times. The collapse of the Soviet Union puts into jeopardy one of their most lucrative markets; trade war with China is looming; and the condition o f the world economy is precarious. Negotiators in the Uruguay Round of the G eneral Agreement on Tariffs and Trade are still deadlocked on farm trade ref orm. Even the course of the El Nino weather phenomenon is confounding expert s, who worry that it could trigger droughts in some areas at a time when US grain stocks are uncomfortably low. At the annual outlook conference of the US Department of Agriculture Department last month, Mr James Donald, head of the USDA's World Agriculture Outlook Board, put an optimistic face on 1992 for American farmers. Global crop production would fall but animal output wo uld grow, creating many more hungry mouths to feed, he said. Higher grain pr ices and an increased volume of wheat, soyabean and horticultural product ex ports would boost the value of farm exports to Dollars 39bn, up 4 per cent f rom 1991, Mr Donald forecast. World commodity demand would increase because of real economic growth of about 2.5 per cent, population growth of 1.7 per cent and a 2 per cent rise in meat output. Meanwhile a 'modest increase' cou ld be expected in input prices. However, the overall result would be cash re turns only 'close' to 1991 levels. Mr Robert McElroy, a USDA agricultural ec onomist, predicted a rise in US wheat prices next year. But he told the conf erence a threatened drop in other grain prices could lead to an overall drop in incomes. That would be a further blow to a sector where bankruptcies are continuing at a brisk pace, although not at the rate of the early 1980s. Mr Mitchell Morehart, another USDA agricultural economist, acknowledged that t he rapid changes in the world had made it 'pretty difficult' to forecast net farm income. The drop in US interest rates would benefit some farmers and a possible fall in fuel prices would also help. Maize is the largest single c omponent of US farmer price receipts and the republics of the former Soviet Union are still the major wild card in the pack. The future of this trade re sts on the willingness of the west to provide financial assistance. If the w est withheld credits mendous,' said Mr Alan Terhaar, executive director of t he US Feed Grains Council. 'The cumulative effect of lack of trade credits t hat would cause the Soviets to fall from the projected level to, for example , 5m tonnes of imports would by the end of 1995-96, could cause a build-up o f 60m tonnes of US feed grains stocks. Wheat stocks would face a similar bui ld-up.' If President Bush took the lead on increasing export guarantees to t he former Soviet republics then the subsequent rise in maize prices could ac tually turn falling farm incomes around. With all the uncertainties, Mr Terh aar expected a 'disappointing' outcome for 1991-92 trade. Although exports t o Mexico had been rising, they were slightly behind expectations of 7.5m ton nes per year by 1995. Furthermore, he was keeping a close watch on proposed changes to Mexico's ejido (communal farm) land tenure system. 'Even two year s ago it would have been inconceivable that Mexico would ever change its eji do system, which dates back to that country's revolution,' Mr Terhaar said. The system had been 'considered an insurmountable impediment' to higher Mexi can production, but a proposal to introduce privatisation into the system co uld have 'far reaching consequences for the make-up of crop and livestock pr oduction'. Mr Terhaar was hopeful about increased exports to Egypt, since US debt forgiveness and an emerging private sector had strengthened the market . Eastern Europe offered some possibility of new markets in the short term b ut it could not afford to buy much. Australia, South Africa and Thailand app eared to be moving away from feed grains exports, but the Asian market posed another concern for the US. Japan's tariff quota on imports of maize for in dustrial processing and layers of regulations and secondary tariffs on feed grain might indicate 'we have simply reached a plateau in Japanese imports. . . or we are entering a period of significant decline'. In Korea the US was facing China as a major competitor, while China was maintaining firm contro l on import volume into the south, where economic growth rates in excess of 20 per cent were causing an explosion in demand. Mr Terhaar was 'bullish' th at China would succumb to economic and political pressures to open its marke t to feed grain imports. Currently it was importing 800,000 tonnes of barley for malt production, and demand was growing by more than 100,000 tonnes a y ear. The likeliest bet is that election year politics will prevail and US fa rmers will not be allowed to suffer unduly in 1992. If history repeats itsel f - and why not? - then the Republican administration and Democratic Congres s will join forces to ensure that the Midwest and the Sunbelt states, major electoral battlegrounds, will get sticking plasters for their pain. Already there have been calls in Congress for export subsidy re-armament. President Bush, facing a tough re-election fight and lagging in the polls, is unlikely to refuse this favoured constituency unless Gatt brings discipline into the trade. The Financial Times London Page 14 Photog raph Maize is the biggest contributor to US farm incomes but Soviet sales ar e in doubt (Omitted). ============= Transaction # 62 ============================================== Transaction #: 62 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:50:43 Selec. Rec. #: 31 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT943-6790 _AN-EHZDVAE6FT 9408 26 FT 26 AUG 94 / Commodities and Agriculture: Fishmeal plants gobble up Peru's marine wealth - The crisis threatened by overcapacit y and inefficiency By SALLY BOWEN P eru's fishmeal industry, already the world's number one exporter in 1993, is set for even more spectacular figures this year. The catch in the first six months was almost half as large again as last year's and, with new plants c oming on stream along the coast, quality is on the increase as well as quant ity. 'It's an extraordinary year for fishing,' says Mr Dante Matellini, the retired admiral who presides over Pescaperu, the world's largest fishmeal pr oducer. Pescaperu was created in the early 1970s when the then left-wing mil itary government nationalised the bulk of the privately-owned plants. With f avourable climatic conditions and fish stocks fully recovered after the 1991 -92 ravages of the warm current known as 'El Nino' (The Child), Mr Matellini has more to keep him busy than simply producing and selling fishmeal. He is also charged with the privatisation of the state's assets: some 20 fishmeal factories and four fishoil refineries. Pescaperu's sale was originally anno unced almost two years ago. Now new chief, Mr Matellini, has redrawn the str ategy to sell the plants as separate, legally-constituted companies rather t han as simple assets. The plants are valued at between Dollars 5m and Dollar s 10m apiece, but all require substantial investment and upgrading. Privatis ation has proved delicate as well as slow. Workers made redundant under a ra tionalisation scheme have demonstrated vociferously in Lima's streets. Now t he fishing lobby, the SNP, is also objecting to the sale. 'Pescaperu is a se ven-headed dragon,' says Mr Lucas de Tramontana, the SNP's vice-president an d a major shareholder in Pesquera Austral, the second largest private fishme al producer. 'We believe not more than half-a-dozen of its plants should be sold.' An official proposal to that effect has been put before the privatise rs. The SNP's objection is that Peru's existing plant capacity vastly exceed s the fish available for processing. In a 'normal' year, hundreds of small P eruvian fishermen land about 6.5m tonnes of 'industrial' fish, primarily anc hovy and sardine, caught within 30 miles of the shore by traditional, low-te ch methods. Last year, more than 8.4m tonnes of fish were extracted and, by the time the twice-yearly fishing ban came into force on 1 August, that tota l had already been matched. But, working at capacity, Peru's hungry processi ng plants can gobble up around 20,000 tonnes of raw fish an hour. By early J uly, Pescaperu had exported 450,000 tonnes of fishmeal, worth Dollars 144m - about a third of the 1994 national total so far. Each year, however, its sh are dwindles as private producers bring new, high-technology plants on strea m to turn out 'special' quality fishmeal. One such is the Dollars 22m instal lation belonging to Sindicato Pesquero (Sipesa), near the port of Matarani o n Peru's southern coast, where fish stocks are now proving more reliable. Si pesa is far and away the country's leading private company, with 1993 export s worth Dollars 75m. This year's shipments could be 50 per cent higher. Pesq uera Austral, in the number two slot and investing heavily, has recently bro ught two new special quality plants on line, both south of Lima. It has laun ched a Dollars 30m Euronote issue to help finance restructuring and expansio n. In all, the SNP's general manager, Mr Richard Diaz, can reckon up some Do llars 400m in fresh private sector investments planned and already under way for fleet and plant modernisation. But, with all the entrepreneurial activi ty, Peru's anchovy and sardine stocks are being stretched to their limits - some suspect they may already be over-fished. The last time Peruvian fisherm en caught quantities similar to this year's was in record-breaking 1971. Tha t free-for-all decimated stocks and plunged the fishmeal industry into crisi s for years. The UN's Food and Agriculture Organisation is working with Peru 's fisheries ministry and maritime institute (Imarpe) to make a better evalu ation of the resource. Mr Diaz says 'preliminary information from the study indicates there may have been errors in calculating the biomass in previous years. Or else the 'biological' fishing ban has allowed stocks to build up.' Nevertheless, the anchovy and sardine caught off the Peruvian coast are fin ite. Apart from improving the conversion ratio of raw material to finished p roduct, fishmeal producers may soon have no alternative but to move into dee per waters where virtually untapped stocks of horse and jack mackerel abound . Investment in deep-sea trawlers, of course, is expensive and, according to the SNP, Peru's very private fishing sector (no Peruvian fishing company is yet publicly traded) carries a heavy burden of debt. One option for the for ward-looking company is a joint venture backed by foreign capital. Peru's So tomayor group, 40 per cent owned by American Proteins of Atlanta, has embark ed on a tuna-fishing venture in association with JIDO, the Japanese investme nt and development organisation. The first of a projected four-ship fleet is already operating off the Peruvian coast and selling tuna to Japan for sash imi. A Dutch company, Van der Zwan, meanwhile, has bought back seven Dutch-b uilt trawlers originally supplied to now-liquidated Flopesca, the former sta te-owned high seas fishing fleet. In a joint venture with a local company ba sed in Peru's northern port of Paita, a couple of the reconditioned trawlers are to produce frozen fish, mainly hake, for export to Europe. A further, o bvious option for Peruvian companies that see the writing on the wall is to launch a public share offering. Both Sipesa and Sotomayor say they are consi dering it. Countries:- PEZ Peru, South America. Industries:- P091 Commercial Fishing. P2092 Fresh or F rozen Prepared Fish. Types:- CMMT Comment & Analysis. MKTS Production. The Financial Times London Pa ge 22 ============= Transaction # 63 ============================================== Transaction #: 63 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:50:51 Selec. Rec. #: 31 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT943-6790 _AN-EHZDVAE6FT 9408 26 FT 26 AUG 94 / Commodities and Agriculture: Fishmeal plants gobble up Peru's marine wealth - The crisis threatened by overcapacit y and inefficiency By SALLY BOWEN P eru's fishmeal industry, already the world's number one exporter in 1993, is set for even more spectacular figures this year. The catch in the first six months was almost half as large again as last year's and, with new plants c oming on stream along the coast, quality is on the increase as well as quant ity. 'It's an extraordinary year for fishing,' says Mr Dante Matellini, the retired admiral who presides over Pescaperu, the world's largest fishmeal pr oducer. Pescaperu was created in the early 1970s when the then left-wing mil itary government nationalised the bulk of the privately-owned plants. With f avourable climatic conditions and fish stocks fully recovered after the 1991 -92 ravages of the warm current known as 'El Nino' (The Child), Mr Matellini has more to keep him busy than simply producing and selling fishmeal. He is also charged with the privatisation of the state's assets: some 20 fishmeal factories and four fishoil refineries. Pescaperu's sale was originally anno unced almost two years ago. Now new chief, Mr Matellini, has redrawn the str ategy to sell the plants as separate, legally-constituted companies rather t han as simple assets. The plants are valued at between Dollars 5m and Dollar s 10m apiece, but all require substantial investment and upgrading. Privatis ation has proved delicate as well as slow. Workers made redundant under a ra tionalisation scheme have demonstrated vociferously in Lima's streets. Now t he fishing lobby, the SNP, is also objecting to the sale. 'Pescaperu is a se ven-headed dragon,' says Mr Lucas de Tramontana, the SNP's vice-president an d a major shareholder in Pesquera Austral, the second largest private fishme al producer. 'We believe not more than half-a-dozen of its plants should be sold.' An official proposal to that effect has been put before the privatise rs. The SNP's objection is that Peru's existing plant capacity vastly exceed s the fish available for processing. In a 'normal' year, hundreds of small P eruvian fishermen land about 6.5m tonnes of 'industrial' fish, primarily anc hovy and sardine, caught within 30 miles of the shore by traditional, low-te ch methods. Last year, more than 8.4m tonnes of fish were extracted and, by the time the twice-yearly fishing ban came into force on 1 August, that tota l had already been matched. But, working at capacity, Peru's hungry processi ng plants can gobble up around 20,000 tonnes of raw fish an hour. By early J uly, Pescaperu had exported 450,000 tonnes of fishmeal, worth Dollars 144m - about a third of the 1994 national total so far. Each year, however, its sh are dwindles as private producers bring new, high-technology plants on strea m to turn out 'special' quality fishmeal. One such is the Dollars 22m instal lation belonging to Sindicato Pesquero (Sipesa), near the port of Matarani o n Peru's southern coast, where fish stocks are now proving more reliable. Si pesa is far and away the country's leading private company, with 1993 export s worth Dollars 75m. This year's shipments could be 50 per cent higher. Pesq uera Austral, in the number two slot and investing heavily, has recently bro ught two new special quality plants on line, both south of Lima. It has laun ched a Dollars 30m Euronote issue to help finance restructuring and expansio n. In all, the SNP's general manager, Mr Richard Diaz, can reckon up some Do llars 400m in fresh private sector investments planned and already under way for fleet and plant modernisation. But, with all the entrepreneurial activi ty, Peru's anchovy and sardine stocks are being stretched to their limits - some suspect they may already be over-fished. The last time Peruvian fisherm en caught quantities similar to this year's was in record-breaking 1971. Tha t free-for-all decimated stocks and plunged the fishmeal industry into crisi s for years. The UN's Food and Agriculture Organisation is working with Peru 's fisheries ministry and maritime institute (Imarpe) to make a better evalu ation of the resource. Mr Diaz says 'preliminary information from the study indicates there may have been errors in calculating the biomass in previous years. Or else the 'biological' fishing ban has allowed stocks to build up.' Nevertheless, the anchovy and sardine caught off the Peruvian coast are fin ite. Apart from improving the conversion ratio of raw material to finished p roduct, fishmeal producers may soon have no alternative but to move into dee per waters where virtually untapped stocks of horse and jack mackerel abound . Investment in deep-sea trawlers, of course, is expensive and, according to the SNP, Peru's very private fishing sector (no Peruvian fishing company is yet publicly traded) carries a heavy burden of debt. One option for the for ward-looking company is a joint venture backed by foreign capital. Peru's So tomayor group, 40 per cent owned by American Proteins of Atlanta, has embark ed on a tuna-fishing venture in association with JIDO, the Japanese investme nt and development organisation. The first of a projected four-ship fleet is already operating off the Peruvian coast and selling tuna to Japan for sash imi. A Dutch company, Van der Zwan, meanwhile, has bought back seven Dutch-b uilt trawlers originally supplied to now-liquidated Flopesca, the former sta te-owned high seas fishing fleet. In a joint venture with a local company ba sed in Peru's northern port of Paita, a couple of the reconditioned trawlers are to produce frozen fish, mainly hake, for export to Europe. A further, o bvious option for Peruvian companies that see the writing on the wall is to launch a public share offering. Both Sipesa and Sotomayor say they are consi dering it. Countries:- PEZ Peru, South America. Industries:- P091 Commercial Fishing. P2092 Fresh or F rozen Prepared Fish. Types:- CMMT Comment & Analysis. MKTS Production. The Financial Times London Pa ge 22 ============= Transaction # 64 ============================================== Transaction #: 64 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:51:43 Selec. Rec. #: 33 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT924-2561 _AN-CLKB5AGEFT 9212 11 FT 11 DEC 92 / Survey of Ecuador (3): Banana trade fa ces an uncertain future - Agriculture By RAYMOND COL ITT BANANA production, the cornerstone of Ecuador's agricul ture, is facing change. Not only are exports threatened by European restrict ions, but domestic overproduction, the Sigatoka disease and low per acre pro ductivity will also demand action by producers. Last year Ecuador produced a record 3.5m tonnes of bananas. The increase over previous years (3m tonnes in 1990 and 2.5m tonnes in 1989) is largely due to new plantations started i n 1990 and 1991 - when banana prices rose - and which have now come into pro duction. These largely unauthorised plantations are ballooning the supply an d depressing prices. Of great concern to Ecuador is the reform of the Europe an Community's banana import regime with proposals to impose a banana import quota of 2m tonnes next year and tariff on 'dollar bananas' imported from e xporters from Latin America of up to 70 per cent. Ecuador last year exported 2.7m tonnes of bananas worth nearly Dollars 800m. Restrictions would affect a large percentage of Ecuador's banana exports. Approximately 40 per cent o f the fruit it produces is sold to the EC. While the spread of the Black Sig atoka disease, which has endangered the tropical fruit for some time, has be en halted, it is not likely to be eradicated. Measures introduced by the Fre nch Institute of Fruit and Citrus Investigations, part of an aid programme o f the French government, have had much success in combating Sigatoka, but ha ve not able to eliminate it completely. The productivity of Ecuador's banana fields is below that of its world competitors. While the productivity in Ho nduras is 2,800 boxes per hectare and 3,000 in Costa Rica, Ecuador merely pr oduces 1,400 boxes per hectare. Yet lower overall costs make Ecuador competi tive internationally. To give producers an incentive while continuing to pro tect consumers, the government is to implement a price reform of the princip al agricultural goods whose prices have so far remained fixed. Supply and de mand will determine the prices of sugar, rice, maize, soya, milk and barley within a certain parameter set by the ministry of agriculture. The bottom en d of the price bracket will ensure farmers a minimum revenue. When prices hi t the top end, distributors are allowed to search for cheaper imports on the international market. The importance of coffee and cacao, which cover nearl y a third of the area sown with primary agricultural products, is likely to decrease. Given low prices and an over-supply of coffee on world markets, ag riculture minister Mr Mariano Gonzales Portes has indicated that some of the coffee cultivations will eventually have to be replaced with other crops. I n spite of a sugar cane production of over 3.5m tonnes annually, Ecuador has had to import sugar this year. Producers hope to cover domestic demand next year but need considerable credits from the Andean Development Corporation to do so. Few major crops have seen their production increase significantly recently. One exception is the soya bean; its production has nearly quadrupl ed in the past years and is expected to grow in the future. One of the reaso ns producers have not been able to significantly increase the yield of their crops in past years, says Mr Gonzales, has been the lack of sufficient inve stment in agricultural research. Only 0.3 per cent of gross domestic product has gone into agricultural research in the past years, he says. The governm ent plans to reverse that trend and, with the help of the Institute of Agric ultural Investigations which became autonomous only in July, intends to prom ote new and higher-yielding agricultural products. INIAP has recently develo ped a new type of yuca whose yield is three times that of the traditional ty pe when processed into flour and 10 times as high when processed into starch . The institute also engages in other activities, such as giving technical a dvice to indigenous groups in the central province of Chimborazo on the cult ivation of the traditional crop quinua. This cereal, grown by the Incas cent uries ago, has a high nutritional value. Although a promising crop, the effi cient commercialisation of quinua is difficult, says Mr Gonzales, because of the unfavourable size of land parcels in the areas in which quinua is grown . Land holdings in the mountainous Sierra region are much smaller than in th e coast and are typically used for subsistence farming. Thirty per cent of l and holdings in the Sierra are classified as small (10 hectares or less), wh ile 52 per cent are medium sized (10 to 100 hectares) and only 18 per cent a re more than 100 hectares. Land holdings in the coastal provinces of Manabi, Guayas, and Los Rios are generally larger and used in commercial monocultur e such as banana, cacao or coffee. In the past two-and-a-half decades the am ount of land used for livestock production has more than tripled to nearly 5 m hectares, which in part explains Ecuador's dazzling rate of deforestation. Settlers continue to slash-and-burn as a way to clear areas of forest on wh ich to grow beans and maize for one season before turning it into pasture. T he most rapid expansion of pasture has occured in the coastal areas, especia lly in the province of Esmeraldas where huge tracts of land have been cleare d by settlers as well as lumber companies. In the Sierra the increase of pas ture is more due to the abandonment of agricultural activities. A large pote ntial for growth lies in Ecuador's horticulture, according to Mr Gonzales, e specially tropical fruits but also flowers which have found an increasingly strong market in the US and Europe. Yet the volatility in the production of such fruits for the export market is exemplified by the Babaco fruit. Produc tion in 1987 reached 3,834 tonnes but then steadily declined over the years and in 1991 equalled only 510 tonnes. Although outside the hurricane zone, E cuador suffers repeatedly from the shifting precipitation patterns caused by the Pacific current El Nino. The current carries warmer waters to the coast and causes droughts in some parts of the country and floods in others. This year 22 people were killed and 30,000 hectares of rice, banana, cotton and maize crops were lost. The damage in the coastal areas alone is estimated to have been Dollars 70m. At a time when droughts have caused hydroelectric pl ants to reduce their output, the government plans to revive a decade-old pro ject to irrigate nearly 30,000 hectares of arable land on the Santa Helena p eninsula west of the port city Guayaquil. The four dams along the river Daul e are also to provide the area with electricity and drinking water. So far B razil, Italy and Spain have agreed to co-finance the project. T he Financial Times London Page 34 ============= Transaction # 65 ============================================== Transaction #: 65 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:51:47 Selec. Rec. #: 33 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT924-2561 _AN-CLKB5AGEFT 9212 11 FT 11 DEC 92 / Survey of Ecuador (3): Banana trade fa ces an uncertain future - Agriculture By RAYMOND COL ITT BANANA production, the cornerstone of Ecuador's agricul ture, is facing change. Not only are exports threatened by European restrict ions, but domestic overproduction, the Sigatoka disease and low per acre pro ductivity will also demand action by producers. Last year Ecuador produced a record 3.5m tonnes of bananas. The increase over previous years (3m tonnes in 1990 and 2.5m tonnes in 1989) is largely due to new plantations started i n 1990 and 1991 - when banana prices rose - and which have now come into pro duction. These largely unauthorised plantations are ballooning the supply an d depressing prices. Of great concern to Ecuador is the reform of the Europe an Community's banana import regime with proposals to impose a banana import quota of 2m tonnes next year and tariff on 'dollar bananas' imported from e xporters from Latin America of up to 70 per cent. Ecuador last year exported 2.7m tonnes of bananas worth nearly Dollars 800m. Restrictions would affect a large percentage of Ecuador's banana exports. Approximately 40 per cent o f the fruit it produces is sold to the EC. While the spread of the Black Sig atoka disease, which has endangered the tropical fruit for some time, has be en halted, it is not likely to be eradicated. Measures introduced by the Fre nch Institute of Fruit and Citrus Investigations, part of an aid programme o f the French government, have had much success in combating Sigatoka, but ha ve not able to eliminate it completely. The productivity of Ecuador's banana fields is below that of its world competitors. While the productivity in Ho nduras is 2,800 boxes per hectare and 3,000 in Costa Rica, Ecuador merely pr oduces 1,400 boxes per hectare. Yet lower overall costs make Ecuador competi tive internationally. To give producers an incentive while continuing to pro tect consumers, the government is to implement a price reform of the princip al agricultural goods whose prices have so far remained fixed. Supply and de mand will determine the prices of sugar, rice, maize, soya, milk and barley within a certain parameter set by the ministry of agriculture. The bottom en d of the price bracket will ensure farmers a minimum revenue. When prices hi t the top end, distributors are allowed to search for cheaper imports on the international market. The importance of coffee and cacao, which cover nearl y a third of the area sown with primary agricultural products, is likely to decrease. Given low prices and an over-supply of coffee on world markets, ag riculture minister Mr Mariano Gonzales Portes has indicated that some of the coffee cultivations will eventually have to be replaced with other crops. I n spite of a sugar cane production of over 3.5m tonnes annually, Ecuador has had to import sugar this year. Producers hope to cover domestic demand next year but need considerable credits from the Andean Development Corporation to do so. Few major crops have seen their production increase significantly recently. One exception is the soya bean; its production has nearly quadrupl ed in the past years and is expected to grow in the future. One of the reaso ns producers have not been able to significantly increase the yield of their crops in past years, says Mr Gonzales, has been the lack of sufficient inve stment in agricultural research. Only 0.3 per cent of gross domestic product has gone into agricultural research in the past years, he says. The governm ent plans to reverse that trend and, with the help of the Institute of Agric ultural Investigations which became autonomous only in July, intends to prom ote new and higher-yielding agricultural products. INIAP has recently develo ped a new type of yuca whose yield is three times that of the traditional ty pe when processed into flour and 10 times as high when processed into starch . The institute also engages in other activities, such as giving technical a dvice to indigenous groups in the central province of Chimborazo on the cult ivation of the traditional crop quinua. This cereal, grown by the Incas cent uries ago, has a high nutritional value. Although a promising crop, the effi cient commercialisation of quinua is difficult, says Mr Gonzales, because of the unfavourable size of land parcels in the areas in which quinua is grown . Land holdings in the mountainous Sierra region are much smaller than in th e coast and are typically used for subsistence farming. Thirty per cent of l and holdings in the Sierra are classified as small (10 hectares or less), wh ile 52 per cent are medium sized (10 to 100 hectares) and only 18 per cent a re more than 100 hectares. Land holdings in the coastal provinces of Manabi, Guayas, and Los Rios are generally larger and used in commercial monocultur e such as banana, cacao or coffee. In the past two-and-a-half decades the am ount of land used for livestock production has more than tripled to nearly 5 m hectares, which in part explains Ecuador's dazzling rate of deforestation. Settlers continue to slash-and-burn as a way to clear areas of forest on wh ich to grow beans and maize for one season before turning it into pasture. T he most rapid expansion of pasture has occured in the coastal areas, especia lly in the province of Esmeraldas where huge tracts of land have been cleare d by settlers as well as lumber companies. In the Sierra the increase of pas ture is more due to the abandonment of agricultural activities. A large pote ntial for growth lies in Ecuador's horticulture, according to Mr Gonzales, e specially tropical fruits but also flowers which have found an increasingly strong market in the US and Europe. Yet the volatility in the production of such fruits for the export market is exemplified by the Babaco fruit. Produc tion in 1987 reached 3,834 tonnes but then steadily declined over the years and in 1991 equalled only 510 tonnes. Although outside the hurricane zone, E cuador suffers repeatedly from the shifting precipitation patterns caused by the Pacific current El Nino. The current carries warmer waters to the coast and causes droughts in some parts of the country and floods in others. This year 22 people were killed and 30,000 hectares of rice, banana, cotton and maize crops were lost. The damage in the coastal areas alone is estimated to have been Dollars 70m. At a time when droughts have caused hydroelectric pl ants to reduce their output, the government plans to revive a decade-old pro ject to irrigate nearly 30,000 hectares of arable land on the Santa Helena p eninsula west of the port city Guayaquil. The four dams along the river Daul e are also to provide the area with electricity and drinking water. So far B razil, Italy and Spain have agreed to co-finance the project. T he Financial Times London Page 34 ============= Transaction # 66 ============================================== Transaction #: 66 Transaction Code: 23 (Saved Recs. Viewed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 12:53:16 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 67 ============================================== Transaction #: 67 Transaction Code: 2 (New Disp. 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Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: Subject: s1-t1 ---------- 1. DOCUMENT NO.: FT921-10204 . HEADLINE: FT 07 FEB 92 / Commodities and Agriculture: Keeping a weat her-eye on a troublesome 'child' / A look at the crop problems posed by the unpredictable El Nino climate phenomenon . BYLINE: By BARBARA DURR . PUBLICATION: The Financial Times . PAGE: London Page 22 . TEXT: TO CALM anxious grain traders the Chicago Board of Trade will offe r a seminar later this month on El Nino, the weather phenomenon that develop s in the equatorial Pacific every three to five years and can cause global c limate upsets. Grain traders are keen to know if they can expect this year's El Nino to disturb the US weather pattern sufficiently to make a dent in cr op output. Although signs of El Nino had been accumulating during 1991, only last month did the the US National Weather Service finally conclude publicl y that the phenomenon was a fact. The symptoms had been showing themselves o verseas since last spring - rising surface temperatures in the eastern and c entral Pacific, drought in the western Pacific rim from Australia through In donesia, a weaker Indian monsoon, dryness in north-eastern Brazil, drought i n South Africa and wetness last summer in the Great Basin of the US, which r uns from Arizona north to Idaho. While many of these conditions indicate tha t El Nino is occurring, they do not reveal its severity. The phenomenon gene rally peaks in the northern hemisphere's winter. This helps explain why Peru vian fishermen dubbed the phenomenon El Nino, which means Christ child in Sp anish. It arrived about Christmas time. Mr Vernon Kousky, a research meteoro logist with the US weather service, now assesses the current El Nino as 'mod erate to strong'. While individual weather events cannot always be directly attributed to El Nino, some signals are indicative of its strength. Warm wat er in the Pacific is pushing moisture into the south-western US, causing, fo r example, this winter's floods in Texas, according to Mr Art Douglas, chair man of the Creighton University's Atmospheric Sciences Department. Along the Gulf of Mexico, from Texas to Florida, some areas have already had 200 per cent to 1,000 per cent of their normal rainfall. Temperatures in that region are also beginning to dip below normal. At the same time the phenomenon is upsetting the Jet Stream, keeping extremely cold air far to the north and mo derating temperatures in the Midwest. The Midwest, America's most important grain area, is seeing temperatures four or five degrees Fahrenheit above nor mal, said Mr Jon Davis, the in-house meteorologist for Shearson Lehman's com modities trading arm. The weather service predicts that more of the same wil l occur in those regions until spring and that the usually wet north-west is likely to be dryer, as is the Ohio valley. But what concerns the grain trad e more is what, if anything, will happen during the critical planting and gr owing season for American crops from June to August. Unfortunately, weather forecasting is not a precise science. Mr Kousky says that El Nino, usually a 12 to 18 month event, has another six to 12 months to run. But he points ou t that there is no consistent relationship between El Nino and the weather p attern beyond the winter-to-spring months. 'Anything can happen,' he admits. Crop Cast, a Maryland-based weather forecasting service that is used by man y US commodity trading houses, says that while El Nino has already affected South American soyabeans, South African maize and Australian wheat, it is ho ping to be able to predict potentially damaging crop effects in the US by lo oking at the coincidence of the El Nino with two other climatological events , last year's eruption of Mount Pinatubo in the Phillippines and the combina tion of lunar and solar cycles. These additional factors along with El Nino probably mean that a more extreme weather pattern bleeds over into summer, a ccording to Mr Kevin Marcus, director of Crop Cast services. He says the lik elihood of extreme, hot and dry weather is 100 per cent, but gives only a on e in three chance that this will have a significant impact on crops. The hot , dry weather would have to occur in July or early August to reduce the maiz e and soyabean crops significantly, that is by more than 10 per cent. But Mr Marcus is uncertain about how the three phenomena will interact since there no established pattern. He is still waiting for more data on the severity o f this year's El Nino. The phenomenon has prompted commodities markets to gy rate in the past. In 1972-73 the El Nino destroyed the Peruvian fishmeal cat ch, which then accounted for some 45 per cent of the world trade in protein feed. In 1982-83 it caused a drought in Africa, which helped to send cocoa p rices up by nearly 70 per cent over a period of about a year. . 2. DOCUME NT NO.: FT923-14358. HEADLINE: FT 08 JUL 92 / Commodities and Agricult ure: El Nino drought 'appears to be over' . BYLINE: By REUTER . DA TELINE: SYDNEY . PUBLICATION: The Financial Times . PAGE: London Page 32 . TEXT: THE DROUGHT that has ravaged crops and cost hundreds of millions of dollars in countries across Asia and the South Pacif ic appears to be over, meteorologists say, reports Reuter from Sydney. Its c ause, the climatic phenomenon known as El Nino, is dissipating with some are as returning to normal weather conditions more quickly than others, they sai d. Australia is among the first of the major agricultural producers to emerg e from drought in most areas, while in India a return to normal rainfall is expected in the late monsoon. China's northern provinces are still in the gr ip of drought, however, though it is unlikely to have much impact on the cou ntry's international trading position. 'We're now in the declining phase of El Nino, it's global and it has had an effect since early last year all roun d the planet, particularly in the tropical regions,' an official at Australi a's National Climate Centre said. Ocean waters in the central and eastern eq uatorial Pacific, which had warmed under El Nino were continuing to cool qui te rapidly, the climate centre reported. Australia, whose farm sector was ra vaged by drought and economic recession, has already felt the effect of the changing conditions. 'Australia tends to climb out of it earlier than others ,' the official said. Drought conditions still persist in some areas of New South Wales and southern Queensland but local output of grain and sugar is f orecast to recover significantly after last year's drought across eastern Au stralia. The total value of wheat, coarse grains and sugar is forecast to ri se by nearly 30 per cent to ADollars 3.14bn (Pounds 1.2bn) in the year to th e end of June, 1993, compared with the previous drought-hit year. In India h owever, the change is taking longer to come through. 'It is expected to come back to average in the late monsoon season,' Australia's climate centre off icial said. Erratic rains in India last year caused food grain output to fal l to about 171m tonnes in the year to June 30, 1992 from the previous year's record 176m tonnes. . 3. DOCUMENT NO.: FT932-14766. HEADLINE: FT 1 6 APR 93 / Commodities and Agriculture: Peru's fishmeal industry set for bum per profits - Production survived last year's El Nino visitation to reach a fresh record . BYLINE: By SALLY BOWEN . PUBLICATION: The Financia l Times . PAGE: London Page 26 . TEXT: THE PERUVIAN fishme al industry is gearing up for a bonanza predicted to last for the next two t o three years. By late 1992, the sardine and anchovy that form the staple ra w material for the industry were back in abundance after being temporarily a ffected by the appearance of the dreaded warm current known as 'El Nino', wh ich last ravaged fishmeal output in 1983. Contrary to predictions, however, Peruvian production survived last year's milder visitation and a late boost in fish stocks turned 1992 into yet another record year. Peru topped the wor ld exporters' league with 1.37m tonnes, narrowly outstripping Chile's 1.21m tonnes. 'Statistically, the years after a Nino are excellent,' says Mr Espin o of Imarpe, Peru's maritime institute, which is charged with husbanding the resource and recommending periodic fishing bans. Mr Espino estimates that t he Peruvian catch could be raised by a quarter or a third from the present 6 m tonnes a year without detriment to the species. 'And if the fishmeal produ cers started going for jack mackerel - at present only about 80,000 tonnes a year are landed, perhaps 5 per cent of total stocks - then the sky's the li mit,' he says. The main limitation on such expansion is fleet capacity. Most Peruvian fishing boats are small, with no refrigeration and hug the coast. When El Nino hits, the fish move into deeper waters farther out to sea where these boats cannot follow. Peruvian producers say they have invested more t han Dollars 200m in the past two years in fleet renovation and plant and equ ipment modernisation ashore. The industry is moving towards production of hi gher-quality, low temperature, steam-dried meal with 'stickwater' plants to maximise protein recovery. New boats with refrigerated holds are under const ruction in local yards. But there's still plenty of room, and a warm welcome waiting, for new investment from abroad. Representatives from Chile's huge Angelini group have been in Peru recently on 'feeling-out' visits. And Venez uelan capital has already entered in the form of a new fishmeal joint ventur e under the name of Palangrera Peruana. But the big surprise of 1993 could b e the arrival of the Chinese. Pesca Peru, the state-owned fishmeal and fisho il giant that produces around 40 per cent of all national output, is high on this year's privatisation list. Coopers and Lybrand, with financing from th e Canadian development agency and the World Bank, is currently completing a valuation and will recommend on sale procedures. Essentially, the choice is between splitting the company into its 20 plants and four refineries to sell off individually; or selling the whole company as one unit. The only likely buyers on the latter basis would be the Chinese - 'and it's a possibility t hat has the private producers in a state of panic', says Mr Eric Topf, head of the Pesca Peru privatisation committee. Unofficially, senior Pesca Peru o fficials say the company should fetch 'at least Dollars 200m', a ball-park f igure considered over-optimistic by private producers. The state-owned plant s are, by and large, elderly and outdated - though several are excellently l ocated on the now-desirable extreme southern coast and have their own quays. Drastic personnel reductions during 1992 put Pesca Peru back into profit af ter years in the red, underlining just how profitable producing fishmeal can be, even from scrap-yard plants. China has established itself as far and aw ay Peru's largest customer, buying last year almost 60 per cent of all outpu t. Peruvian fishmeal goes to feed the Pacific prawn, turbot and eel which Ch ina is successfully exporting in quantity to the US and Japan. The Chinese a re said to be producing at present some 32m tonnes of animal foodstuffs a ye ar, in which they use 2 per cent fishmeal - a very low percentage compared w ith most competitors. A high-level Peruvian delegation is now in China 'to t ry to convince them of the bounties of boosting that fishmeal component,' sa ys Mr Salomon Manzur, Peruvian president of the Fishmeal Exporters' Associat ion. If the Chinese do increase the percentage of fishmeal in their current animal feedstuff production, Peruvian producers will be assured of sales for their expanded fishmeal output for several years to come. ---------------- ------------------------------------- FISHMEAL PRODUCTION ('000 TONNES) --- -------------------------------------------------- 1990 1991 1992 ----------------------------------------------------- Peru vian Pesca Peru 379 498 513 Private sector 755 782 853 Total 1,134 1,280 1,366 -------------------- --------------------------------- Chilean 1,550 1,210 ----------------------------------------------------- Source: Peruvian Nati onal Fishing Society (SNP). ----------------------------------------------- ------ . 4. DOCUMENT NO.: FT922-14235. HEADLINE: FT 07 APR 92 / Dro ught pulls the plug on much of Colombia . BYLINE: By SARITA KENDAL L . DATELINE: BOGOTA . PUBLICATION: The Financial Times . PAGE: International Page 6 . TEXT: POWER cuts of at least eight hou rs a day have been imposed all over Colombia in an effort to cope with a dro ught that has reduced the water for hydro electric plants. There is little p rospect of rain, and reservoirs are drying into baked mud. If this continues the country could face a complete black-out by the end of April. The winter rains are late and the El Nino current off the Pacific coast appears to be upsetting normal weather patterns. But bad planning, heavy debts, corruption , budget deficits, deforestation and poor management are behind the electric ity problems. Colombia's generating capacity is 8,200MW, more than adequate for normal demand levels. Despite the country's ample coal and oil reserves, 78 per cent of power comes from large, expensive hydro-electric schemes whi ch have pushed the sector's foreign debt up to more than Dollars 5bn. To try to save on costs, electricity companies have been running down the reservoi rs rather than use thermal plants at full capacity. Labour and financial pro blems have also delayed the maintenance of thermal power stations, while gue rrilla attacks have put distribution lines out of action. The rationing aims to cut overall consumption by about a third. The government has asked indus try to shut down for 10 days over Easter and to send workers on holiday. . 5. DOCUMENT NO.: FT922-12623. HEADLINE: FT 16 APR 92 / Commodities a nd Agriculture: Supply fears buoy sugar prices . BYLINE: By DAVID BLACKWELL . PUBLICATION: The Financial Times . PAGE: London Page 3 8 . TEXT: FEARS OF a tighter sugar supply/demand balance in 1992-93 are supporting the world market, according to reports from two London trade houses. Raw sugar prices have recently touched eight-month highs, nudging 1 0 cents a lb in the New York market, on fears of tight nearby supplies follo wing damage to the South African crop because of drought. The trade houses, ED & F. Man and Czarnikow, both point out in reports published today that in the short term the changing export potential in several countries will keep the lid on prices. The increasing likelihood of a 1m-tonne increase in Thai land's crop, compared with the previous season, together with the availabili ty of exportable surpluses from India and Cuba, should 'keep significant adv ances at bay', Man's latest sugar report says. Man believes that reports of a catastrophic Cuban crop this season at 5m to 5.5m tonnes are unsupported b y the evidence and estimates that the crop will come in at about 6.5m tonnes . It is forecasting a crop of more than 5m tonnes in Thailand and 12.6m tonn es in India. The overall balance for the 1991-92 season remains marginally i n surplus, Man says, but it suggests that the situation is likely to be even more tightly balanced in 1992-93. Czarnikow's sugar review points out that the extent of the South African drought has raised questions about the timin g and coverage of the El Nino weather phenomenon. 'Already a major drought i s developing in Thailand which, if relief does not arrive this month, could have serious implications for the next crop,' the Czarnikow review says. 'If this is part of a regional phenomenon there might be problems later in the year with the monsoon in India and this will need to be monitored carefully. ' . 6. DOCUMENT NO.: FT922-5507. HEADLINE: FT 30 MAY 92 / The Long View: Going for the jugular . BYLINE: By BARRY RILEY . PUBLICATION : The Financial Times . PAGE: London Page I . TEXT: WHENE VER I meet Fringe Freddie, I know I am going to start worrying. It's catchin g. Either he is getting ready for the biggest boom ever known, or the bigges t crash. A quiet life never comes into it. Right now, he is in one of his ap ocalyptic phases. I occasionally run into Freddie at slightly offbeat invest ment seminars. These are, I must emphasise, perfectly respectable occasions - nothing at all like those international gatherings in places like Monte Ca rlo or Acapulco where every weird investment prophet and nutty newsletter ed itor in the world is gathered. They rant at geriatric American investors who can be persuaded to pay Dollars 5,000 to enjoy two days of skilful manipula tion of their only remaining emotions of greed and fear - in between naps, o f course. Freddie is in his element in those places. But he can once in a wh ile come in from the fringe. The previous time I bumped into Freddie, he was heavily into global weather patterns. El Nino was developing again in the S outh Pacific. I gathered it was some kind of surface warming effect which ki lls all the fish off South America and then spreads drought and famine acros s large areas of the globe. Freddie's eyes lit up at the thought. He was goi ng heavily long of agricultural commodities on the Chicago markets. Potatoes would be like gold dust. This week, I dropped into a seemingly harmless sem inar on long-term cycles and was buttonholed by Freddie again at coffee time . El Nino? He seemed to have lost interest in Pacific sea temperatures. Evid ently, those futures contracts had drifted out of the money. Now he was into NT, which he patiently explained was Nostradamus Theory. Did I know that a new team of Nostradamus analysts had finally cracked the mystery of the old mystic's code? Future disasters were being set out on an accurate timetable so that those investors in the know could take maximum advantage. I said I w as a bit hazy about Nostradamus, although I was aware that the International Harry Shultz Letter had confessed to an error in its last issue. Apparently , the catastrophic Californian earthquake it had forecast on an interpretati on of Nostradamus for May 8 1992 was wrong; it should have said May 8 1993. San Diego would still slide into the sea, but a year late. You had better no t go to Disneyland about that time, either. Possibly Freddie twigged that I was not taking him entirely seriously, but he pressed on. Did I not realise that the US economy was twice as debt-ridden as it had ever been? Was I not aware that the Japanese financial system was already technically insolvent, and that there were exact parallels between the Wall Street slide and subseq uent American slump from 1929 onwards and the Toyko market slide beginning i n 1990? Had I not noticed that Germany . . . Look, I said, I knew some of th e numbers didn't look too good, but the global economy was still growing and over the years I had read more than my fair ration of books by gloom and do om merchants. As far back as 1984, the Kondratieff Wave theorists had been f orecasting an imminent slump. In fact, the world stayed in a long boom. Then there was Ravi Batra, who made a fortune out of The Great Depression of 199 0. However, there was no depression in 1990, just a recession in 1991, while Wall Street in 1992 is hitting all-time highs. Britain's own Lord Rees-Mogg , taking time out from cleaning up television, had got in on the act with a co-authored financial spinechiller called Blood in the Streets and, when tha t proved premature, managed to get out a sequel called The Great Reckoning e arlier this year. It had all been good for royalty receipts but not for cred ibility. Freddie was distinctly unimpressed. Hadn't I seen what was happenin g to property values worldwide? Or the 60 per cent collapse of what had been the world's biggest stock market in Tokyo? Or the dreadful economic slump i n eastern Europe? What was happening in western stock markets was just the l ast gasp of the old order. What I had missed, he said, becoming more excitab le by the minute, was the importance of the combination of the 54-year Kondr atieff Wave with the seven- to 11-year Juglar cycle, not to mention the inte rmediary Kuznets cycle. After all, the Kondratieff could last as long as 60 years: what did 1932 plus 60 add up to? Put all the cycles together and you could have a triple whammy for the early 1990s. This was all getting beyond me, although I murmured that I remembered that Batra had discussed something called the Jugular Cycle in his book. Either his spelling was wrong or he w as talking about blood in the streets, too. I wished Freddie had stuck to hi s Peruvian fish famine. I should never have got back to the weather. Global warming, apparently, was the latest theme to arise from NT Why, Nostradamus himself had warned that a great tide would arise in a second Great Flood and the hot wind would blow as from hell itself. The date? Well, the interprete rs hadn't quite decided yet, but it wouldn't be very long. We should be sell ing all energy stocks on the grounds that governments would soon be doubling gasoline taxes and banning emissions. Commodity markets would be transforme d as food crops were devastated. By now the gleam was really back in his eye s. The long-term punter should be buying land at least 10 metres above exist ing sea level, waiting for values to soar as millions were driven out of bea chside settlements by the advancing waters. Except in California, of course, which was all going to slide into a geological fault . . . I made an excuse and left. The Freddie Cycle was clearly testing its low point. But, in my e xperience, it never stays down for long. . 7. DOCUMENT NO.: FT922-643. HE ADLINE: FT 26 JUN 92 / Commodities and Agriculture: Flooded Bolivian f armers on hunger strike . BYLINE: By FRANCIS FREISINGER . DATELINE : SANTA CRUZ . PUBLICATION: The Financial Times . PAGE: Lo ndon Page 30 . TEXT: THE BOLIVIAN Eastern Farmers Chamber (CAO) has declared an indefinite hunger strike in protest at the lack of government a id in the wake of the agricultural disaster that has struck the Santa Cruz d epartment as a result of months of flooding. Peasant groups have announced o ther measures in support of the CAO - including road blocks - and a regional general strike may follow. Santa Cruz in the east of the country, which pro duces 90 per cent of Bolivia's agricultural exports, principally soyabeans a nd sugar, has been devastated since January by the worst floods in living me mory. At least a third and possibly as much as half the crop has been lost a lready and the sowing of the next crop has been seriously disrupted, the los ses will continue for another harvest. At least Dollars l00m has been lost t o date, a vast sum for Bolivia. As a result there will be a marked reduction in GNP growth this year according to economists. Nearly a hundred farmers f rom the CAO have joined the hunger strike, including some of the wealthiest men in the country, and as many as 500 more are poised to follow. In a remar kable development, the hardline right-wing farmers have literally become bed fellows with their traditional enemy, the Bolivian Workers' Central (COB), t he national union confederation which still adheres, at least in theory, to a revolutionary Marxist ideology. Some of COB leaders have joined the hunger strike and are now sleeping in the same room as the farmers. The farmers ar e calling for much more direct government and international assistance as we ll as rescheduling of loans from both private banks and multinational instit utions, principally the Inter-American Development Bank. They are demanding special help for the smaller farmers, worst hit financially because of their lack of access to credit, as a result of which thousands face bankruptcy. T he CAO President, Mr Sergio Justiniano said: 'We will remain on hunger strik e until a global solution is found'. The flooding is partly the result of ex ceptionally heavy rains that have accompanied the El Nino cyclical Pacific w eather phenomenon, which has also brought flooding this year to Peru and Ecu ador. However, according to ecologists, the effect has been exacerbated in B olivia by the extensive deforestation that has accompanied the agricultural boom of the past few years Despite officially declaring the region a disaste r zone, the government claims that it is unable to help. Mr Hugo Lozino, min ister of peasant development said: 'We have done what we can. Bolivia is a p oor country and can't afford to do more'. It seems unlikely, however, that t he government will be able to resist the powerful alliance confronting it, e specially as it faces unrest in other key sectors, including mining. . 8. DOCUMENT NO.: FT921-5191. HEADLINE: FT 05 MAR 92 / Commodities and Ag riculture: Ecuador shells out on shrimp farming - The consequences of declin ing fish stocks and over-investment . BYLINE: By SARITA KENDALL . PUBLICATION: The Financial Times . PAGE: London Page 30 . TEXT: Ecuador's shrimp farming business had another record year in 1991 as the gap with other fishing exports widened. Groups within the industry, unwi lling to acknowledge over-fishing, accuse each other of irrational practices or blame dwindling catches on climate and ocean currents. 'We've seen this happen in other countries - with herring in the North Sea, and anchovy in Pe ru,' said Mr Ian Scott, the economist in charge of Britain's technical assis tance programme for the fishing sector. 'There's been over-investment. If th e Ecuadorian fleet fishes for 150 days a year at 50 per cent efficiency, it can catch 3m tonnes - but the sustainable stock of pelagic fish is only 500, 000 to 1m tonnes.' In the last few years fishermen supplying the fishmeal an d canning industries have seen a drastic drop in the harvest of sardines, ma ckerel, thread herring and anchovies: the catch fell from 1,970,000 tonnes i n 1985 to 233,000 tonnes in 1990, leaving many processing plants working at less than 20 per cent of capacity. Mr Scott said that although the warm sout hward-flowing El Nino current was responsible for two bad years, the general decline was due to over-fishing and licences and quota systems were needed to help stocks recover. The tuna industry, centred in Manta, is also overblo wn, but the catch has remained stable at 50,000 to 55,000 tonnes a year. Bot h Ecuadorian and foreign boats fish for tuna. Local fishermen criticise the fact that boats registered in the US, Japan and other countries are contract ed by Manta processing companies. However, it is argued that only some of th e vessels in the national fleet can freeze tuna to -40C, the temperature nec essary for good quality exports. The under-secretary for fishing, Mr Max Agu irre, is proud of Ecuador's record on the dolphin-tuna issue. 'The Ecuadoria n law is strict. Ecuadorian and foreign boats have their licences taken away if they fish on dolphins. I report with satisfaction that in 43 trips with observers on board there were zero dolphin deaths.' Mr Aguirre admits that r esearch studies warned of sardine fishing problems, and says regional contro ls, including Peru and Chile, should be enforced. 'Licences should regulate the catch with reference to the resource.' However, the private sector has b een too powerful and the government too timid to allow any quota-based manag ement of stocks. The fish sector earned about USDollars 570m in 1991, with s hrimps contributing more than 85 per cent. There are more than 125,000 hecta res of shrimp ponds along the tidal flats of the Ecuadorian coastline, mainl y in the southern provinces. Most shrimp farms are less than 50 hectares, th ough the largest - up to as much as 2,000 hectares - tend to be the most so phisticated. Some use small aircraft to drop feed over the surface of the po nds. Shrimp farms produce all year round so close to the equator and two to three harvests can be taken. With an ideal climate, plentiful larvae and low -labour costs, Ecuador is the leading Latin American shrimp exporter. 'Our p roblem at the moment is the big jump in the cost of inputs. The dollar price of shrimps has dropped and so has profitability,' said Mr Renato del Campo of the Chamber of Shrimp Producers in Guayaquil. 'But there are markets - th e US is still attractive and we are diversifying into Europe, especially Spa in.' Exports have risen from 10,000 tonnes in 1980 to more than 78,000 tonne s in 1991, and the need for more space and more larvae has led to conflict w ith environmental groups, particularly over the clearing of mangroves. Most shrimps are bred from wild larvae caught by thousands of seasonal fishermen, but more than 100 laboratories have been started up in recent years, with s ome exporting larvae to Colombia. Although the shrimp fishing industry is sm all, accounting for less than 10 per cent of production, wild shrimp provide important breeding stocks for the laboratories. The sector expanded dangero usly fast - from about 2,000 to 9,000 boats - in the 1980s and over-fishing is becoming a serious problem within a few miles of the coast. Many of the boats are dug-out canoes based in small communities. 'We need to teach peopl e to take better care of the fish, then they'll also improve their income. T here should be ice available, and we need to encourage marketing co-operativ es,' said Mr Aguirre. The British aid project, which is now ending after 12 years, has helped the National Fisheries Institute to build up data on biolo gy, product development, marketing and management. Ecuador has a stronger ba sis for planning resource use than many other countries. 'There isn't any ro om for growth in the existing industry - it needs reducing and consolidating ,' said Mr. Scott. . 9. DOCUMENT NO.: FT931-13401. HEADLINE: FT 23 JAN 93 / World Stock Markets: De Beers gives JSE a buoyant start to 1993 - B ut economic hopes are muted . BYLINE: By PHILIP GAWITH . PUBLICATI ON: The Financial Times . PAGE: London Page 19 . TEXT: Ju st as the collapse last August in De Beers' share price was an important fac tor in driving down the Johannesburg Stock Exchange, so its recent recovery has helped get the market off to a buoyant start in 1993. The overall index has risen by about 4 per cent in the first three weeks, having closed 1992 d own 5.3 per cent on the year. The index closed yesterday up 22 at 3,404. Muc h of this year's rise can be attributed to De Beers, which accounts for some 10 per cent of total volume and 5 per cent of market capitalisation. The sh ares have risen by 16 per cent since the start of the year, closing yesterda y at R68.25, after finishing 1992 at R57.50. This improvement is mainly attr ibutable to better than expected rough diamond sales by the Central Selling Organisation during 1992, and indications that the problem of excess supply from Angola and Russia has eased. The industrial index has also started the year strongly, up 4 per cent, after a 4.6 per cent gain in the whole of 1992 , which followed a strong 39 per cent rise the previous year. Mr Richard Jes se, an analyst at brokers Martin & Co partly attributes this good start to t he, by now, 'tedious litany' of the market's scrip shortage. Nevertheless, m ost observers believe that 1993 will be a better year on the JSE than 1992. To some extent, this view is supported by improved political and economic fu ndamentals. While the speed of political negotiation is rather slow all thos e involved are aware that the country cannot afford a repeat of the damaging political hiatus which followed the failure of the Codesa 2 talks in May an d the Boipatong massacre in June. Economic expectations, however, are muted: the weather pattern in recent weeks has led to renewed fears that the El Ni no phenomenon, associated with the severe drought of 1991-92, has reappeared . Last year, for instance, the drought shaved nearly 2 percentage points off GDP growth. The expectation remains, however, of positive growth in 1993 of around 1.5 per cent (GDP shrunk by about 2 per cent in 1992), on hopes of a better agricultural season and improved commodity exports as world growth i mproves. The earnings prospects of industrial companies remains gloomy. Most companies that have reported recently have predicted a drop in profits and there is little expectation of improved corporate profits before 1994. In sp ite of these rather pale fundamentals, Mr Jesse is predicting a rerating of the market. He believes that the Financial and Industrial index, currently o n a price/earnings ratio of 14.9 times, down from a peak of some 15.5 in 199 2, could rise to more than 16 this year. He gives two main reasons for this forecast, apart from the improved political prospects. First, the absence of alternatives: property returns are expected to fall in 1993, while money ma rket rates which are in line with inflation, and likely to fall with interes t rates, are hardly attractive. Capital markets are also a difficult route b ecause, while the probable short-term decline in inflation, which currently stands at about 11 per cent, is positive, this is counterbalanced by concern s about the size of the government's budget deficit and prospects of a relax ation in fiscal policy under an interim government. Second, Mr Jesse argues that South African fund managers will be increasing the equity portion of th eir portfolios: many of them are underweight, holding less than 60 per cent in equities when the limit is as much as 75 per cent. One unfashionable area which could receive some of these institutional funds is gold shares which have been sharply downrated over the past three years as the gold index decl ined from a peak of 2,250 to current levels of about 800, with a 30 per cent fall in 1992 alone. Mr Mike Wuth, mining analyst at brokers Rice Rinaldi sa ys that this correction has largely removed the speculative angle from gold. Now, he says, gold has to offer decent returns and compete more directly wi th industrial shares. However few analysts hold out much hope for a higher g old price in the short term and a weakening rand is only likely to offer lim ited benefit. But one way that profits can be improved is through further co st cutting measures and the December gold quarterly results of mining houses confirm the impressive progress that has been made in this direction. With the dividend yield of the gold index having risen to 6.6 per cent from 3.4 p er cent three years ago, gold shares are now offering better value than for a number of years. Mr Wuth forecasts that foreigners are more likely to be b uyers of good shares than local institutions. Many of the latter, he argues, are historically overweight in gold and so are looking for opportunities to lighten their holdings. Overseas institutions, of course, will be wary of t he vagaries of the financial rand investment unit, which started 1992 at a d iscount of 14 per cent to the commercial rand and ended at a discount of 37 per cent. But the political outlook and recent steps taken to bolster the cu rrency, make any further weakening from current levels unlikely. . 10. DO CUMENT NO.: FT921-16395. HEADLINE: FT 03 JAN 92 / Commodities and Agri culture: Uncertainties cloud US farming outlook - Election year politics cou ld again ease growers' sufferings . BYLINE: By NANCY DUNNE . PUBLI CATION: The Financial Times . PAGE: London Page 14 Photograph Maiz e is the biggest contributor to US farm incomes but Soviet sales are in doub t (Omitted). . TEXT: AMERICAN FARMERS are facing a new year as shro uded in uncertainty as any in recent times. The collapse of the Soviet Union puts into jeopardy one of their most lucrative markets; trade war with Chin a is looming; and the condition of the world economy is precarious. Negotiat ors in the Uruguay Round of the General Agreement on Tariffs and Trade are s till deadlocked on farm trade reform. Even the course of the El Nino weather phenomenon is confounding experts, who worry that it could trigger droughts in some areas at a time when US grain stocks are uncomfortably low. At the annual outlook conference of the US Department of Agriculture Department las t month, Mr James Donald, head of the USDA's World Agriculture Outlook Board , put an optimistic face on 1992 for American farmers. Global crop productio n would fall but animal output would grow, creating many more hungry mouths to feed, he said. Higher grain prices and an increased volume of wheat, soya bean and horticultural product exports would boost the value of farm exports to Dollars 39bn, up 4 per cent from 1991, Mr Donald forecast. World commodi ty demand would increase because of real economic growth of about 2.5 per ce nt, population growth of 1.7 per cent and a 2 per cent rise in meat output. Meanwhile a 'modest increase' could be expected in input prices. However, th e overall result would be cash returns only 'close' to 1991 levels. Mr Rober t McElroy, a USDA agricultural economist, predicted a rise in US wheat price s next year. But he told the conference a threatened drop in other grain pri ces could lead to an overall drop in incomes. That would be a further blow t o a sector where bankruptcies are continuing at a brisk pace, although not a t the rate of the early 1980s. Mr Mitchell Morehart, another USDA agricultur al economist, acknowledged that the rapid changes in the world had made it ' pretty difficult' to forecast net farm income. The drop in US interest rates would benefit some farmers and a possible fall in fuel prices would also he lp. Maize is the largest single component of US farmer price receipts and th e republics of the former Soviet Union are still the major wild card in the pack. The future of this trade rests on the willingness of the west to provi de financial assistance. If the west withheld credits mendous,' said Mr Alan Terhaar, executive director of the US Feed Grains Council. 'The cumulative effect of lack of trade credits that would cause the Soviets to fall from th e projected level to, for example, 5m tonnes of imports would by the end of 1995-96, could cause a build-up of 60m tonnes of US feed grains stocks. Whea t stocks would face a similar build-up.' If President Bush took the lead on increasing export guarantees to the former Soviet republics then the subsequ ent rise in maize prices could actually turn falling farm incomes around. Wi th all the uncertainties, Mr Terhaar expected a 'disappointing' outcome for 1991-92 trade. Although exports to Mexico had been rising, they were slightl y behind expectations of 7.5m tonnes per year by 1995. Furthermore, he was k eeping a close watch on proposed changes to Mexico's ejido (communal farm) l and tenure system. 'Even two years ago it would have been inconceivable that Mexico would ever change its ejido system, which dates back to that country 's revolution,' Mr Terhaar said. The system had been 'considered an insurmou ntable impediment' to higher Mexican production, but a proposal to introduce privatisation into the system could have 'far reaching consequences for the make-up of crop and livestock production'. Mr Terhaar was hopeful about inc reased exports to Egypt, since US debt forgiveness and an emerging private s ector had strengthened the market. Eastern Europe offered some possibility o f new markets in the short term but it could not afford to buy much. Austral ia, South Africa and Thailand appeared to be moving away from feed grains ex ports, but the Asian market posed another concern for the US. Japan's tariff quota on imports of maize for industrial processing and layers of regulatio ns and secondary tariffs on feed grain might indicate 'we have simply reache d a plateau in Japanese imports. . . or we are entering a period of signific ant decline'. In Korea the US was facing China as a major competitor, while China was maintaining firm control on import volume into the south, where ec onomic growth rates in excess of 20 per cent were causing an explosion in de mand. Mr Terhaar was 'bullish' that China would succumb to economic and poli tical pressures to open its market to feed grain imports. Currently it was i mporting 800,000 tonnes of barley for malt production, and demand was growin g by more than 100,000 tonnes a year. The likeliest bet is that election yea r politics will prevail and US farmers will not be allowed to suffer unduly in 1992. If history repeats itself - and why not? - then the Republican admi nistration and Democratic Congress will join forces to ensure that the Midwe st and the Sunbelt states, major electoral battlegrounds, will get sticking plasters for their pain. Already there have been calls in Congress for expor t subsidy re-armament. President Bush, facing a tough re-election fight and lagging in the polls, is unlikely to refuse this favoured constituency unles s Gatt brings discipline into the trade. . 11. DOCUMENT NO.: FT943-6790. HEADLINE: FT 26 AUG 94 / Commodities and Agriculture: Fishmeal plants gobble up Peru's marine wealth - The crisis threatened by overcapacity and i nefficiency . BYLINE: By SALLY BOWEN . PUBLICATION: The Financial Times . PAGE: London Page 22 . TEXT: Peru's fishmeal indu stry, already the world's number one exporter in 1993, is set for even more spectacular figures this year. The catch in the first six months was almost half as large again as last year's and, with new plants coming on stream alo ng the coast, quality is on the increase as well as quantity. 'It's an extra ordinary year for fishing,' says Mr Dante Matellini, the retired admiral who presides over Pescaperu, the world's largest fishmeal producer. Pescaperu w as created in the early 1970s when the then left-wing military government na tionalised the bulk of the privately-owned plants. With favourable climatic conditions and fish stocks fully recovered after the 1991-92 ravages of the warm current known as 'El Nino' (The Child), Mr Matellini has more to keep h im busy than simply producing and selling fishmeal. He is also charged with the privatisation of the state's assets: some 20 fishmeal factories and four fishoil refineries. Pescaperu's sale was originally announced almost two ye ars ago. Now new chief, Mr Matellini, has redrawn the strategy to sell the p lants as separate, legally-constituted companies rather than as simple asset s. The plants are valued at between Dollars 5m and Dollars 10m apiece, but a ll require substantial investment and upgrading. Privatisation has proved de licate as well as slow. Workers made redundant under a rationalisation schem e have demonstrated vociferously in Lima's streets. Now the fishing lobby, t he SNP, is also objecting to the sale. 'Pescaperu is a seven-headed dragon,' says Mr Lucas de Tramontana, the SNP's vice-president and a major sharehold er in Pesquera Austral, the second largest private fishmeal producer. 'We be lieve not more than half-a-dozen of its plants should be sold.' An official proposal to that effect has been put before the privatisers. The SNP's objec tion is that Peru's existing plant capacity vastly exceeds the fish availabl e for processing. In a 'normal' year, hundreds of small Peruvian fishermen l and about 6.5m tonnes of 'industrial' fish, primarily anchovy and sardine, c aught within 30 miles of the shore by traditional, low-tech methods. Last ye ar, more than 8.4m tonnes of fish were extracted and, by the time the twice- yearly fishing ban came into force on 1 August, that total had already been matched. But, working at capacity, Peru's hungry processing plants can gobbl e up around 20,000 tonnes of raw fish an hour. By early July, Pescaperu had exported 450,000 tonnes of fishmeal, worth Dollars 144m - about a third of t he 1994 national total so far. Each year, however, its share dwindles as pri vate producers bring new, high-technology plants on stream to turn out 'spec ial' quality fishmeal. One such is the Dollars 22m installation belonging to Sindicato Pesquero (Sipesa), near the port of Matarani on Peru's southern c oast, where fish stocks are now proving more reliable. Sipesa is far and awa y the country's leading private company, with 1993 exports worth Dollars 75m . This year's shipments could be 50 per cent higher. Pesquera Austral, in th e number two slot and investing heavily, has recently brought two new specia l quality plants on line, both south of Lima. It has launched a Dollars 30m Euronote issue to help finance restructuring and expansion. In all, the SNP' s general manager, Mr Richard Diaz, can reckon up some Dollars 400m in fresh private sector investments planned and already under way for fleet and plan t modernisation. But, with all the entrepreneurial activity, Peru's anchovy and sardine stocks are being stretched to their limits - some suspect they m ay already be over-fished. The last time Peruvian fishermen caught quantitie s similar to this year's was in record-breaking 1971. That free-for-all deci mated stocks and plunged the fishmeal industry into crisis for years. The UN 's Food and Agriculture Organisation is working with Peru's fisheries minist ry and maritime institute (Imarpe) to make a better evaluation of the resour ce. Mr Diaz says 'preliminary information from the study indicates there may have been errors in calculating the biomass in previous years. Or else the 'biological' fishing ban has allowed stocks to build up.' Nevertheless, the anchovy and sardine caught off the Peruvian coast are finite. Apart from imp roving the conversion ratio of raw material to finished product, fishmeal pr oducers may soon have no alternative but to move into deeper waters where vi rtually untapped stocks of horse and jack mackerel abound. Investment in dee p-sea trawlers, of course, is expensive and, according to the SNP, Peru's ve ry private fishing sector (no Peruvian fishing company is yet publicly trade d) carries a heavy burden of debt. One option for the forward-looking compan y is a joint venture backed by foreign capital. Peru's Sotomayor group, 40 p er cent owned by American Proteins of Atlanta, has embarked on a tuna-fishin g venture in association with JIDO, the Japanese investment and development organisation. The first of a projected four-ship fleet is already operating off the Peruvian coast and selling tuna to Japan for sashimi. A Dutch compan y, Van der Zwan, meanwhile, has bought back seven Dutch-built trawlers origi nally supplied to now-liquidated Flopesca, the former state-owned high seas fishing fleet. In a joint venture with a local company based in Peru's north ern port of Paita, a couple of the reconditioned trawlers are to produce fro zen fish, mainly hake, for export to Europe. A further, obvious option for P eruvian companies that see the writing on the wall is to launch a public sha re offering. Both Sipesa and Sotomayor say they are considering it. . 12. DOCUMENT NO.: FT924-2561. HEADLINE: FT 11 DEC 92 / Survey of Ecuador (3): Banana trade faces an uncertain future - Agriculture . BYLINE: By RAYMOND COLITT . PUBLICATION: The Financial Times . PAGE: Lon don Page 34 . TEXT: BANANA production, the cornerstone of Ecuador's agriculture, is facing change. Not only are exports threatened by European restrictions, but domestic overproduction, the Sigatoka disease and low per acre productivity will also demand action by producers. Last year Ecuador pr oduced a record 3.5m tonnes of bananas. The increase over previous years (3m tonnes in 1990 and 2.5m tonnes in 1989) is largely due to new plantations s tarted in 1990 and 1991 - when banana prices rose - and which have now come into production. These largely unauthorised plantations are ballooning the s upply and depressing prices. Of great concern to Ecuador is the reform of th e European Community's banana import regime with proposals to impose a banan a import quota of 2m tonnes next year and tariff on 'dollar bananas' importe d from exporters from Latin America of up to 70 per cent. Ecuador last year exported 2.7m tonnes of bananas worth nearly Dollars 800m. Restrictions woul d affect a large percentage of Ecuador's banana exports. Approximately 40 pe r cent of the fruit it produces is sold to the EC. While the spread of the B lack Sigatoka disease, which has endangered the tropical fruit for some time , has been halted, it is not likely to be eradicated. Measures introduced by the French Institute of Fruit and Citrus Investigations, part of an aid pro gramme of the French government, have had much success in combating Sigatoka , but have not able to eliminate it completely. The productivity of Ecuador' s banana fields is below that of its world competitors. While the productivi ty in Honduras is 2,800 boxes per hectare and 3,000 in Costa Rica, Ecuador m erely produces 1,400 boxes per hectare. Yet lower overall costs make Ecuador competitive internationally. To give producers an incentive while continuin g to protect consumers, the government is to implement a price reform of the principal agricultural goods whose prices have so far remained fixed. Suppl y and demand will determine the prices of sugar, rice, maize, soya, milk and barley within a certain parameter set by the ministry of agriculture. The b ottom end of the price bracket will ensure farmers a minimum revenue. When p rices hit the top end, distributors are allowed to search for cheaper import s on the international market. The importance of coffee and cacao, which cov er nearly a third of the area sown with primary agricultural products, is li kely to decrease. Given low prices and an over-supply of coffee on world mar kets, agriculture minister Mr Mariano Gonzales Portes has indicated that som e of the coffee cultivations will eventually have to be replaced with other crops. In spite of a sugar cane production of over 3.5m tonnes annually, Ecu ador has had to import sugar this year. Producers hope to cover domestic dem and next year but need considerable credits from the Andean Development Corp oration to do so. Few major crops have seen their production increase signif icantly recently. One exception is the soya bean; its production has nearly quadrupled in the past years and is expected to grow in the future. One of t he reasons producers have not been able to significantly increase the yield of their crops in past years, says Mr Gonzales, has been the lack of suffici ent investment in agricultural research. Only 0.3 per cent of gross domestic product has gone into agricultural research in the past years, he says. The government plans to reverse that trend and, with the help of the Institute of Agricultural Investigations which became autonomous only in July, intends to promote new and higher-yielding agricultural products. INIAP has recentl y developed a new type of yuca whose yield is three times that of the tradit ional type when processed into flour and 10 times as high when processed int o starch. The institute also engages in other activities, such as giving tec hnical advice to indigenous groups in the central province of Chimborazo on the cultivation of the traditional crop quinua. This cereal, grown by the In cas centuries ago, has a high nutritional value. Although a promising crop, the efficient commercialisation of quinua is difficult, says Mr Gonzales, be cause of the unfavourable size of land parcels in the areas in which quinua is grown. Land holdings in the mountainous Sierra region are much smaller th an in the coast and are typically used for subsistence farming. Thirty per c ent of land holdings in the Sierra are classified as small (10 hectares or l ess), while 52 per cent are medium sized (10 to 100 hectares) and only 18 pe r cent are more than 100 hectares. Land holdings in the coastal provinces of Manabi, Guayas, and Los Rios are generally larger and used in commercial mo noculture such as banana, cacao or coffee. In the past two-and-a-half decade s the amount of land used for livestock production has more than tripled to nearly 5m hectares, which in part explains Ecuador's dazzling rate of defore station. Settlers continue to slash-and-burn as a way to clear areas of fore st on which to grow beans and maize for one season before turning it into pa sture. The most rapid expansion of pasture has occured in the coastal areas, especially in the province of Esmeraldas where huge tracts of land have bee n cleared by settlers as well as lumber companies. In the Sierra the increas e of pasture is more due to the abandonment of agricultural activities. A la rge potential for growth lies in Ecuador's horticulture, according to Mr Gon zales, especially tropical fruits but also flowers which have found an incre asingly strong market in the US and Europe. Yet the volatility in the produc tion of such fruits for the export market is exemplified by the Babaco fruit . Production in 1987 reached 3,834 tonnes but then steadily declined over th e years and in 1991 equalled only 510 tonnes. Although outside the hurricane zone, Ecuador suffers repeatedly from the shifting precipitation patterns c aused by the Pacific current El Nino. The current carries warmer waters to t he coast and causes droughts in some parts of the country and floods in othe rs. This year 22 people were killed and 30,000 hectares of rice, banana, cot ton and maize crops were lost. The damage in the coastal areas alone is esti mated to have been Dollars 70m. At a time when droughts have caused hydroele ctric plants to reduce their output, the government plans to revive a decade -old project to irrigate nearly 30,000 hectares of arable land on the Santa Helena peninsula west of the port city Guayaquil. The four dams along the ri ver Daule are also to provide the area with electricity and drinking water. So far Brazil, Italy and Spain have agreed to co-finance the project. . ============= Transaction # 75 ============================================== Transaction #: 75 Transaction Code: 26 (Saved Recs. Cleared) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:04:06 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 76 ============================================== Transaction #: 76 Transaction Code: 15 (Terms Cleared) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:04:19 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 77 ============================================== Transaction #: 77 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:07:09 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 11 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {international boundary disputes territorial waters law sea convention 200 economic zones})" ============= Transaction # 78 ============================================== Transaction #: 78 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:07:27 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 109498 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 79 ============================================== Transaction #: 79 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:09:20 Selec. Rec. #: 1 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-9398 _AN-EKPEKABFFT 9411 16 FT 16 NOV 94 / Law of the Sea promises many disputes By BRUCE CLARK, Diplomatic Correspondent < TEXT> The United Nations Convention on the Law of the Sea, which enters full force today, seems likely to be treated by coastal states as a rich source of legal and rhetorical arguments to be used against rivals. This is in spit e of the fact that the last thing the law's drafters wanted was to provide d isputatious countries with extra torpedoes. One of the law's ostensible purp oses is to encourage compromises over the exploitation of maritime resources , even among countries with unresolved disputes. Apart from a standoff in th e Aegean - where Turkey has threatened war if Greece extends its territorial waters to 12 miles - one of the most grave maritime disputes involves China and Vietnam, locked in a war of words over oil rights in the South China Se a. Both China and Vietnam claim to be acting in accordance with the Law of t he Sea but their interpretations of the document are miles apart. Over the l ast month, China has accused Vietnam of infringing its interests in internat ional waters by inviting US and European companies to explore for oil in the Tonkin Gulf. Vietnam has retorted that it is exercising its legitimate righ ts in the economic zone to which it is entitled by the UN convention. It sai d that under the terms of that treaty, there were no international waters in the Gulf. This dialogue of the deaf reflects confusion over the difference between territorial waters - which may be extended, under the UN Law, up to 12 miles -and the 'economic zone' which coastal states are entitled to clai m, amounting to either 200 miles or the full extent of their continental she lf, whichever is larger. China and Vietnam are also arguing over resources a round the Spratly Islands, a group of reefs and atolls whose other would-be owners are Taiwan, Brunei, Malaysia and the Philippines. China has awarded a n exploration contract to the US company Crestone for an area south-west of the Spratlys, while Vietnam has awarded a consortium led by Mobil a bloc sli ghtly further to the west. Each state has denounced the other's contract. So vereignty over the Spratlys - and hence control of the surrounding economic zone - is crucial to each side's claim to energy rights, and the salience of this issue is expected to grow as the UN convention enters force. However a study by a London-based law firm, maintains that the law favours pragmatic joint exploitation accords, even among countries with unresolved disputes.* Laying out the common-sense arguments for such accords, it notes that oil de posits which straddle two states' economic zones cannot be exploited by one without damaging the other's interests. When one state drills, oil from the rival state's zone is liable to flow across the boundary line as a result. A rticle 83 of the UN convention says that pending final agreement on zones, c ountries should 'make every effort to enter into provisional arrangements of a practical nature'. As an example of such a deal, the study cites the 1989 accord between Australia and Indonesia over waters south of Timor. However, such accords are not a panacea. Portugal - still seen by the UN as legal ad ministrator of East Timor - has challenged Australia's right to enter the ac cord, before the International Court of Justice. The entry into force of the UN Law comes a year after its ratification by the minimum of 60 states. Ano ther breakthrough came this summer when provisions on deep-sea mining - outs ide the zones of any country - were amended so as to convince the US, the UK and Germany to sign. *Paper by Charles Robson of Lovell White Durrant, 65 H olborn Viaduct, London EC1A 2DY Countries:- CNZ Chin a, Asia. VNZ Vietnam, Asia. XAZ World. Industries:- P9721 International Affairs. Types:- NEWS Gener al News. The Financial Times London Page 6 ============= Transaction # 80 ============================================== Transaction #: 80 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:09:26 Selec. Rec. #: 1 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-9398 _AN-EKPEKABFFT 9411 16 FT 16 NOV 94 / Law of the Sea promises many disputes By BRUCE CLARK, Diplomatic Correspondent < TEXT> The United Nations Convention on the Law of the Sea, which enters full force today, seems likely to be treated by coastal states as a rich source of legal and rhetorical arguments to be used against rivals. This is in spit e of the fact that the last thing the law's drafters wanted was to provide d isputatious countries with extra torpedoes. One of the law's ostensible purp oses is to encourage compromises over the exploitation of maritime resources , even among countries with unresolved disputes. Apart from a standoff in th e Aegean - where Turkey has threatened war if Greece extends its territorial waters to 12 miles - one of the most grave maritime disputes involves China and Vietnam, locked in a war of words over oil rights in the South China Se a. Both China and Vietnam claim to be acting in accordance with the Law of t he Sea but their interpretations of the document are miles apart. Over the l ast month, China has accused Vietnam of infringing its interests in internat ional waters by inviting US and European companies to explore for oil in the Tonkin Gulf. Vietnam has retorted that it is exercising its legitimate righ ts in the economic zone to which it is entitled by the UN convention. It sai d that under the terms of that treaty, there were no international waters in the Gulf. This dialogue of the deaf reflects confusion over the difference between territorial waters - which may be extended, under the UN Law, up to 12 miles -and the 'economic zone' which coastal states are entitled to clai m, amounting to either 200 miles or the full extent of their continental she lf, whichever is larger. China and Vietnam are also arguing over resources a round the Spratly Islands, a group of reefs and atolls whose other would-be owners are Taiwan, Brunei, Malaysia and the Philippines. China has awarded a n exploration contract to the US company Crestone for an area south-west of the Spratlys, while Vietnam has awarded a consortium led by Mobil a bloc sli ghtly further to the west. Each state has denounced the other's contract. So vereignty over the Spratlys - and hence control of the surrounding economic zone - is crucial to each side's claim to energy rights, and the salience of this issue is expected to grow as the UN convention enters force. However a study by a London-based law firm, maintains that the law favours pragmatic joint exploitation accords, even among countries with unresolved disputes.* Laying out the common-sense arguments for such accords, it notes that oil de posits which straddle two states' economic zones cannot be exploited by one without damaging the other's interests. When one state drills, oil from the rival state's zone is liable to flow across the boundary line as a result. A rticle 83 of the UN convention says that pending final agreement on zones, c ountries should 'make every effort to enter into provisional arrangements of a practical nature'. As an example of such a deal, the study cites the 1989 accord between Australia and Indonesia over waters south of Timor. However, such accords are not a panacea. Portugal - still seen by the UN as legal ad ministrator of East Timor - has challenged Australia's right to enter the ac cord, before the International Court of Justice. The entry into force of the UN Law comes a year after its ratification by the minimum of 60 states. Ano ther breakthrough came this summer when provisions on deep-sea mining - outs ide the zones of any country - were amended so as to convince the US, the UK and Germany to sign. *Paper by Charles Robson of Lovell White Durrant, 65 H olborn Viaduct, London EC1A 2DY Countries:- CNZ Chin a, Asia. VNZ Vietnam, Asia. XAZ World. Industries:- P9721 International Affairs. Types:- NEWS Gener al News. The Financial Times London Page 6 ============= Transaction # 81 ============================================== Transaction #: 81 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:10:18 Selec. Rec. #: 2 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-9095 _AN-EKQEIABOFT 9411 17 FT 17 NOV 94 / Australia extends offshore zone By NIKKI TAIT SYDNEY < TEXT> Australia doubled in size yesterday, as it formally claimed massive ne w offshore territory under an international 'law of the sea' convention. The 1982 United Nations Convention of the Law of the Sea, which was finally rat ified this year, aims to divide about 35 per cent of the world's oceans amon g over 100 countries. In Australia's case it means that the country can clai m an exclusive economic zone extending 200 nautical miles from its baselines , instead of the traditional 12 miles. Because of the nation's extensive coa stline it is now claiming around 5.7m sq miles of ocean water, of which 4.2m sq miles derives from the new extended nautical limits. As a result, Austra lia can boast one of the largest 'exclusive economic zones' in the world. Wh ile much of the additional territory is undisputed, there is disagreement wi th Indonesia over territory around Christmas Island and off the north coast of Australia, including the resource-rich Timor Gap. Countries: - AUZ Australia. Industries:- P9511 Air, Wat er, and Solid Waste Management. Types:- NEWS General N ews. The Financial Times London Page 7 ============= Transaction # 82 ============================================== Transaction #: 82 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:10:23 Selec. Rec. #: 2 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-9095 _AN-EKQEIABOFT 9411 17 FT 17 NOV 94 / Australia extends offshore zone By NIKKI TAIT SYDNEY < TEXT> Australia doubled in size yesterday, as it formally claimed massive ne w offshore territory under an international 'law of the sea' convention. The 1982 United Nations Convention of the Law of the Sea, which was finally rat ified this year, aims to divide about 35 per cent of the world's oceans amon g over 100 countries. In Australia's case it means that the country can clai m an exclusive economic zone extending 200 nautical miles from its baselines , instead of the traditional 12 miles. Because of the nation's extensive coa stline it is now claiming around 5.7m sq miles of ocean water, of which 4.2m sq miles derives from the new extended nautical limits. As a result, Austra lia can boast one of the largest 'exclusive economic zones' in the world. Wh ile much of the additional territory is undisputed, there is disagreement wi th Indonesia over territory around Christmas Island and off the north coast of Australia, including the resource-rich Timor Gap. Countries: - AUZ Australia. Industries:- P9511 Air, Wat er, and Solid Waste Management. Types:- NEWS General N ews. The Financial Times London Page 7 ============= Transaction # 83 ============================================== Transaction #: 83 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:13:50 Selec. Rec. #: 4 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-10970 _AN-CBDCGAAVFT 920 204 FT 04 FEB 92 / Egypt and Sudan in oil dispute By TONY WALKER and SHAHIRA IDRIS C AIRO EGYPT AND Sudan have become embroiled in a border di spute over oil exploration in the Red Sea, and the argument seems likely to complicate already tense relations between Cairo and Khartoum. Egypt has adv ised all international oil companies that Sudan has no authority to sign exp loration agreements for acreage north of their 'political' boundary delineat ed by latitude 22 degrees north under an 1899 treaty. Egypt was reacting to an agreement signed last month between Sudan and the Canadian-registered Int ernational Petroleum Corporation for seismic work in waters north of 22 degr ees in an area Egypt claims as sovereign territory. Sudan, however, believes an 'administrative' boundary, agreed in 1902, which runs north of the polit ical boundary, entitles it to allow exploration north of 22 degrees. The dis pute could hardly come at a more awkward moment, with relations between mode rate rulers in Cairo and the Islamicist-dominated military regime in Sudan u nder severe strain. It also coincides with reports of recent troubles betwee n Egyptian and Sudanese patrols in the triangle formed by the 'political' an d 'administrative' boundaries. The 'political' boundary came into effect wit h the Anglo-Egyptian condominium agreement of 1899. It was followed three ye ars later by an amendment that gave Sudan administrative responsibility for tribes north of 1899 boundary in the east. Egypt was given responsibility fo r a small section south of the line about half-way between the Red Sea coast and the Nile. It is unclear whether the 'political' or 'administrative' bou ndaries have international boundary status. This issue may in the end requir e international jurisdiction. In the meantime Egypt, which is keen to promot e offshore exploration in the Red Sea, is offering a large block which runs south to its 'political' boundary with Sudan, and in fact includes acreage t argeted for exploration by International Petroleum. In Geneva, International Petroleum said it was planning to go ahead with its seismic survey in its 1 0,000 square kilometre Halaib block. A spokesman said that until the Egyptia ns had complained he had not been aware that the area was in dispute. Egypt, through its embassy in Ottawa, informed the Canadian government, and throug h it International Petroleum, that it regarded exploration in waters off the area under dispute latitude as 'illegal.' In Cairo, a spokesman for the Can adian embassy said the issue was under discussion with both Egypt and Sudan. He said the Sudanese were insisting they had a right to enter into explorat ion a greements for areas in their 'administrative' zone. The F inancial Times London Page 4 Map (Omitted). ============= Transaction # 84 ============================================== Transaction #: 84 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:13:53 Selec. Rec. #: 4 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-10970 _AN-CBDCGAAVFT 920 204 FT 04 FEB 92 / Egypt and Sudan in oil dispute By TONY WALKER and SHAHIRA IDRIS C AIRO EGYPT AND Sudan have become embroiled in a border di spute over oil exploration in the Red Sea, and the argument seems likely to complicate already tense relations between Cairo and Khartoum. Egypt has adv ised all international oil companies that Sudan has no authority to sign exp loration agreements for acreage north of their 'political' boundary delineat ed by latitude 22 degrees north under an 1899 treaty. Egypt was reacting to an agreement signed last month between Sudan and the Canadian-registered Int ernational Petroleum Corporation for seismic work in waters north of 22 degr ees in an area Egypt claims as sovereign territory. Sudan, however, believes an 'administrative' boundary, agreed in 1902, which runs north of the polit ical boundary, entitles it to allow exploration north of 22 degrees. The dis pute could hardly come at a more awkward moment, with relations between mode rate rulers in Cairo and the Islamicist-dominated military regime in Sudan u nder severe strain. It also coincides with reports of recent troubles betwee n Egyptian and Sudanese patrols in the triangle formed by the 'political' an d 'administrative' boundaries. The 'political' boundary came into effect wit h the Anglo-Egyptian condominium agreement of 1899. It was followed three ye ars later by an amendment that gave Sudan administrative responsibility for tribes north of 1899 boundary in the east. Egypt was given responsibility fo r a small section south of the line about half-way between the Red Sea coast and the Nile. It is unclear whether the 'political' or 'administrative' bou ndaries have international boundary status. This issue may in the end requir e international jurisdiction. In the meantime Egypt, which is keen to promot e offshore exploration in the Red Sea, is offering a large block which runs south to its 'political' boundary with Sudan, and in fact includes acreage t argeted for exploration by International Petroleum. In Geneva, International Petroleum said it was planning to go ahead with its seismic survey in its 1 0,000 square kilometre Halaib block. A spokesman said that until the Egyptia ns had complained he had not been aware that the area was in dispute. Egypt, through its embassy in Ottawa, informed the Canadian government, and throug h it International Petroleum, that it regarded exploration in waters off the area under dispute latitude as 'illegal.' In Cairo, a spokesman for the Can adian embassy said the issue was under discussion with both Egypt and Sudan. He said the Sudanese were insisting they had a right to enter into explorat ion a greements for areas in their 'administrative' zone. The F inancial Times London Page 4 Map (Omitted). ============= Transaction # 85 ============================================== Transaction #: 85 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:16:04 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 109498 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 86 ============================================== Transaction #: 86 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:16:55 Selec. Rec. #: 13 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-8867 _AN-EKREFAHBFT 9411 17 FT 17 NOV 94 / US cruiser tracks Greek and Turkish co ntingents: Marine rights row leads to fear of war between Nato neighbours By KERIN HOPE and JOHN BARHAM ATHENS, ANKARA A US Navy cruiser was yesterday monitoring Greek and Turkish naval activities in the Aegean, where fears of war have b een triggered by the start of a new international law. The United Nations Co nvention on the Law of the Sea has been hailed in Athens as a vindication of its long-standing argument that it has the right to extend its territorial waters from 6 miles to 12. Turkey has said that any such move by Athens woul d turn the Aegean into a 'Greek lake' and would be resisted by force. Greece says it has no plans to extend its territorial waters, but it will not reno unce the right to do so. An opinion poll published this week showed that 79 per cent of Turks would support war if Greece declared a 12-mile limit. The quarrel dates from an offshore oil strike west of the Greek island of Thasos more than 20 years ago. The Athens government rejects Turkish proposals for joint oil exploration in the Aegean. The Cape St George, a US cruiser equip ped with the latest electronic surveillance devices, was yesterday tracking Turkish warships and Greek aircraft across the Aegean. President Bill Clinto n has written to the leaders of both countries urging them to show restraint and avoid the risk of clashes. Mr Mumtaz Soysal, the Turkish foreign minist er, said Ankara has assured Mr Clinton that it had taken all possible measur es to avoid a clash. Mr Soysal met Mr Karolos Papoulis, his Greek counterpar t, in The Hague this week, but there was little sign of a change in position s. Turkey wants across-the-board negotiations on all the issues which it say s are in dispute. Greece says the only issue that needs discussing is that o f seabed mineral rights, which it wants settled by international arbitration . Relations between Athens and Ankara have also been worsened by the war in former Yugoslavia, where Turkey supports the Bosnian Moslems while Greece ha s traditional links with the Serbs. Turkey was the only European member of N ato to support the US withdrawal from the arms embargo against Bosnia. Recen tly, Turkey gave a new thrust to the old antagonisms by accusing Greece of h arbouring guerrillas from the separatist Kurdistan Workers party (PKK) fight ing in eastern Turkey. The US Navy, in this year's annual intelligence repor t, described the Greek-Turkish standoff as one of the 'most worrisome situat ions developing in Europe and the most dangerous to Nato as an institution'. The report says tension in the Aegean has also been stoked by supplies to b oth countries of new and secondhand ships from other Nato countries. Diploma ts said they were alarmed that a hot-line between the two countries, set up after they came close to war in 1987, had ceased to function. Turkey is cond ucting its manoeuvres this week in international waters in the northern Aege an. About 100 miles to the south, the Greek navy is in charge of a Nato exer cise held every year involving ships and aircraft from the US, France, Italy , Spain and the UK. Countries:- GRZ Greece, EC. TRZ Turkey, Middle East. USZ United States of America. Indu stries:- P9721 International Affairs. Types:- NEWS General News. The Financial Times Internatio nal Page 22 ============= Transaction # 87 ============================================== Transaction #: 87 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:17:00 Selec. Rec. #: 13 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-8867 _AN-EKREFAHBFT 9411 17 FT 17 NOV 94 / US cruiser tracks Greek and Turkish co ntingents: Marine rights row leads to fear of war between Nato neighbours By KERIN HOPE and JOHN BARHAM ATHENS, ANKARA A US Navy cruiser was yesterday monitoring Greek and Turkish naval activities in the Aegean, where fears of war have b een triggered by the start of a new international law. The United Nations Co nvention on the Law of the Sea has been hailed in Athens as a vindication of its long-standing argument that it has the right to extend its territorial waters from 6 miles to 12. Turkey has said that any such move by Athens woul d turn the Aegean into a 'Greek lake' and would be resisted by force. Greece says it has no plans to extend its territorial waters, but it will not reno unce the right to do so. An opinion poll published this week showed that 79 per cent of Turks would support war if Greece declared a 12-mile limit. The quarrel dates from an offshore oil strike west of the Greek island of Thasos more than 20 years ago. The Athens government rejects Turkish proposals for joint oil exploration in the Aegean. The Cape St George, a US cruiser equip ped with the latest electronic surveillance devices, was yesterday tracking Turkish warships and Greek aircraft across the Aegean. President Bill Clinto n has written to the leaders of both countries urging them to show restraint and avoid the risk of clashes. Mr Mumtaz Soysal, the Turkish foreign minist er, said Ankara has assured Mr Clinton that it had taken all possible measur es to avoid a clash. Mr Soysal met Mr Karolos Papoulis, his Greek counterpar t, in The Hague this week, but there was little sign of a change in position s. Turkey wants across-the-board negotiations on all the issues which it say s are in dispute. Greece says the only issue that needs discussing is that o f seabed mineral rights, which it wants settled by international arbitration . Relations between Athens and Ankara have also been worsened by the war in former Yugoslavia, where Turkey supports the Bosnian Moslems while Greece ha s traditional links with the Serbs. Turkey was the only European member of N ato to support the US withdrawal from the arms embargo against Bosnia. Recen tly, Turkey gave a new thrust to the old antagonisms by accusing Greece of h arbouring guerrillas from the separatist Kurdistan Workers party (PKK) fight ing in eastern Turkey. The US Navy, in this year's annual intelligence repor t, described the Greek-Turkish standoff as one of the 'most worrisome situat ions developing in Europe and the most dangerous to Nato as an institution'. The report says tension in the Aegean has also been stoked by supplies to b oth countries of new and secondhand ships from other Nato countries. Diploma ts said they were alarmed that a hot-line between the two countries, set up after they came close to war in 1987, had ceased to function. Turkey is cond ucting its manoeuvres this week in international waters in the northern Aege an. About 100 miles to the south, the Greek navy is in charge of a Nato exer cise held every year involving ships and aircraft from the US, France, Italy , Spain and the UK. Countries:- GRZ Greece, EC. TRZ Turkey, Middle East. USZ United States of America. Indu stries:- P9721 International Affairs. Types:- NEWS General News. The Financial Times Internatio nal Page 22 ============= Transaction # 88 ============================================== Transaction #: 88 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:18:47 Selec. Rec. #: 15 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-7864 _AN-EKWECABAFT 9411 23 FT 23 NOV 94 / Beijing and Hanoi aim to settle differ ences over Spratlys By VICTOR MALLET BANGKOK China and Vietnam agreed yesterday to wo rk peacefully to resolve their disputes over territorial and maritime bounda ries, and are to set up a group of experts to discuss their rival claims to the Spratly atolls and the waters of the South China Sea. A joint communique released at the end of a three-day visit to Vietnam by China's President Ji ang Zemin said the two governments agreed to 'refrain from all acts that mak e things more complicated or broaden conflicts'. The dispute over the South China Sea is especially sensitive, because each country is seeking to exploi t oil and gas reserves believed to lie under the sea bed. Both countries hav e awarded oil exploration contracts to US oil companies in disputed waters. Mr Qian Qichen, Chinese foreign minister, said in the Vietnamese capital Han oi the two sides could shelve disputes and start 'joint development' if prob lems could not be resolved in talks immediately. Joint development of possib le oil and gas fields in disputed maritime areas is a proven method of overc oming conflicts between two countries, but might not succeed in all areas of the sea because there are four other claimants to some or all of the island s: Taiwan, Malaysia, the Philippines and Brunei. Relations between Hanoi and Beijing have improved in the past few years. But Vietnamese officials say C hina has recently encroached on their territory near the border, refused to open a railway link to allow normal trade across the land frontier, and let Chinese traders smuggle cheap Chinese goods into Vietnam. Mr Jiang's visit, the first by a Chinese president, may not have brought much in the way of co ncrete achievements, but suggests the two governments want to set aside thei r differences and concentrate on the similar challenges each faces: keeping their one-party communist political systems intact while liberalising the ec onomy. Countries:- CNZ China, Asia. VNZ Vietnam , Asia. Industries:- P9721 International Affairs. Types:- NEWS General News. The Financial Times < /PUB> London Page 8 ============= Transaction # 89 ============================================== Transaction #: 89 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:18:52 Selec. Rec. #: 15 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-7864 _AN-EKWECABAFT 9411 23 FT 23 NOV 94 / Beijing and Hanoi aim to settle differ ences over Spratlys By VICTOR MALLET BANGKOK China and Vietnam agreed yesterday to wo rk peacefully to resolve their disputes over territorial and maritime bounda ries, and are to set up a group of experts to discuss their rival claims to the Spratly atolls and the waters of the South China Sea. A joint communique released at the end of a three-day visit to Vietnam by China's President Ji ang Zemin said the two governments agreed to 'refrain from all acts that mak e things more complicated or broaden conflicts'. The dispute over the South China Sea is especially sensitive, because each country is seeking to exploi t oil and gas reserves believed to lie under the sea bed. Both countries hav e awarded oil exploration contracts to US oil companies in disputed waters. Mr Qian Qichen, Chinese foreign minister, said in the Vietnamese capital Han oi the two sides could shelve disputes and start 'joint development' if prob lems could not be resolved in talks immediately. Joint development of possib le oil and gas fields in disputed maritime areas is a proven method of overc oming conflicts between two countries, but might not succeed in all areas of the sea because there are four other claimants to some or all of the island s: Taiwan, Malaysia, the Philippines and Brunei. Relations between Hanoi and Beijing have improved in the past few years. But Vietnamese officials say C hina has recently encroached on their territory near the border, refused to open a railway link to allow normal trade across the land frontier, and let Chinese traders smuggle cheap Chinese goods into Vietnam. Mr Jiang's visit, the first by a Chinese president, may not have brought much in the way of co ncrete achievements, but suggests the two governments want to set aside thei r differences and concentrate on the similar challenges each faces: keeping their one-party communist political systems intact while liberalising the ec onomy. Countries:- CNZ China, Asia. VNZ Vietnam , Asia. Industries:- P9721 International Affairs. Types:- NEWS General News. The Financial Times < /PUB> London Page 8 ============= Transaction # 90 ============================================== Transaction #: 90 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:19:15 Selec. Rec. #: 16 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-11862 _AN-EKDDZAARFT 941 104 FT 04 NOV 94 / Cypriots join in the Aegean war of wo rds By BRUCE CLARK, Diplomatic Correspondent The gap between Greek-Cypriot and Turkish-Cypriot positions over t he island's future is widening ominously, at a time when Athens and Ankara a re already squaring off over territorial rights in the Aegean. Greek-Cypriot officials have in the last few days accused both the Turkish Cypriots and A nkara of renouncing the 1977 and 1979 agreements - calling for the island to be reunited as a bi-zonal federation - which have served as the basis for a ll subsequent negotiations. Leaders of the island's Greek Cypriot majority h ave always argued for as full-blooded a federation as possible, while the Tu rkish Cypriots want relatively loose ties between mainly Greek and mainly Tu rkish zones. Until recently, UN-sponsored negotiations have proceeded on the basis that a federal Cyprus would be a sovereign state, albeit loosely stru ctured. But Mr Mumtaz Soysal, the new Turkish foreign minister who has calle d for a tougher stance on Turkish-Greek disputes, caused a sensation in Athe ns this week by saying that both parts of Cyprus were and would remain sover eign entities. He said the Cyprus problem was 'half-solved already' and all that remained was for the two sides to agree on co-operation in such areas a s tourism and the environment. The Turkish minister's words were denounced b y the Cyprus government, although there was quiet satisfaction among hardlin e Greek politicians, who have all along doubted the value of reconciliation talks. 'We are at a worse impasse than before,' said Mr Alecos Michaelides, foreign minister in the Greek Cypriot government. 'They (the Turkish Cypriot s) are now abandoning the idea of a federation . . . and this makes it diffi cult even to start discussions.' The Greek Cypriots are now expected to inte nsify pressure on the UN for a statement that blames Turkish intransigence f or the lack of progress. They are also stepping up their campaign for access ion to the European Union, something the Turkish side opposes as long as the re is no settlement. In a separate Greek-Turkish dispute, Mr Soysal has agai n warned Athens that Turkey will go to war if Greece exercises the option of extending its territorial waters from six miles to 12 after November 16, wh en a new international law on the sea enters force. Countries:- CYZ Cyprus, Middle East. GRZ Greece, EC. TRZ Turkey, M iddle East. Industries:- P9721 International Affairs. < /IN> Types:- NEWS General News. The Financial Tim es London Page 2 ============= Transaction # 91 ============================================== Transaction #: 91 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:19:19 Selec. Rec. #: 16 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-11862 _AN-EKDDZAARFT 941 104 FT 04 NOV 94 / Cypriots join in the Aegean war of wo rds By BRUCE CLARK, Diplomatic Correspondent The gap between Greek-Cypriot and Turkish-Cypriot positions over t he island's future is widening ominously, at a time when Athens and Ankara a re already squaring off over territorial rights in the Aegean. Greek-Cypriot officials have in the last few days accused both the Turkish Cypriots and A nkara of renouncing the 1977 and 1979 agreements - calling for the island to be reunited as a bi-zonal federation - which have served as the basis for a ll subsequent negotiations. Leaders of the island's Greek Cypriot majority h ave always argued for as full-blooded a federation as possible, while the Tu rkish Cypriots want relatively loose ties between mainly Greek and mainly Tu rkish zones. Until recently, UN-sponsored negotiations have proceeded on the basis that a federal Cyprus would be a sovereign state, albeit loosely stru ctured. But Mr Mumtaz Soysal, the new Turkish foreign minister who has calle d for a tougher stance on Turkish-Greek disputes, caused a sensation in Athe ns this week by saying that both parts of Cyprus were and would remain sover eign entities. He said the Cyprus problem was 'half-solved already' and all that remained was for the two sides to agree on co-operation in such areas a s tourism and the environment. The Turkish minister's words were denounced b y the Cyprus government, although there was quiet satisfaction among hardlin e Greek politicians, who have all along doubted the value of reconciliation talks. 'We are at a worse impasse than before,' said Mr Alecos Michaelides, foreign minister in the Greek Cypriot government. 'They (the Turkish Cypriot s) are now abandoning the idea of a federation . . . and this makes it diffi cult even to start discussions.' The Greek Cypriots are now expected to inte nsify pressure on the UN for a statement that blames Turkish intransigence f or the lack of progress. They are also stepping up their campaign for access ion to the European Union, something the Turkish side opposes as long as the re is no settlement. In a separate Greek-Turkish dispute, Mr Soysal has agai n warned Athens that Turkey will go to war if Greece exercises the option of extending its territorial waters from six miles to 12 after November 16, wh en a new international law on the sea enters force. Countries:- CYZ Cyprus, Middle East. GRZ Greece, EC. TRZ Turkey, M iddle East. Industries:- P9721 International Affairs. < /IN> Types:- NEWS General News. The Financial Tim es London Page 2 ============= Transaction # 92 ============================================== Transaction #: 92 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:20:18 Selec. Rec. #: 24 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-2053 _AN-ELQAUAAYFT 9412 17 FT 17 DEC 94 / Outdoors: Europe's fishing fleets prep are for war - Fish supplies are running out, but the authorities seem powerl ess to act By MICHAEL WIGAN The sea has always been a place of high feelings. It is becoming more so as fishing nations worldwide try to extend, or consolidate, their fishing zones. Nowhe re are the issues as complex, fraught and politicised as in the EU waters, u nder pressure from excess fish-catching capacity, lower stocks, and the conf licting ambitions of member states, particularly Spain as well as non-member Norway. Protectionism has never been more old-fashioned than when Spanish t una fishermen defending their traditional, long-line fishery in the Bay of B iscay brandished axes at the British arrivistes using deadlier modern drift- nets. Britain sent its own fishery protection service which proceeded to boa rd and inspect British, not Spanish, vessels. The tuna furore took place out side the EU 200-mile fisheries zone, on the high seas. Here the internationa l law of the sea holds sway, theoretically concerned only with piracy, slave -trading and the movement of illegal narcotics. Flag states may board their own nation's vessels anywhere. But in practice, within the EU fisheries zone , each member state's fishery protection force operates only in national wat ers. Spanish inspectors could, in theory, appear off Scottish coasts to moni tor Spanish fishermen but in practice they do not. It is believed by other s tates' fishermen that Spanish inspectors rarely police Spanish vessel. Polic ing EU waters state by state, with fishery protection forces from different maritime cultures, with differing motivations and muscle, is a disaster. Eac h nation's fishermen accuses its own fishery officers of being tougher than in other member states. British fishermen feel they are singled out by their own inspectors for specially rigorous treatment, a claim denied by protecti on officers themselves. Even so, the simplicity of dealing with own-nation b oats, UK registered, with UK addresses, is much more appealing than dealing with foreign boats whose crews may not speak any English. Even in British te rritorial waters, where England and Wales can call on nine Royal Navy vessel s and three aircraft, and Scotland on seven boats and two aircraft, fishery protection is only a partial affair. 'We cannot search every bit of the sea, but the fishermen know there is a presence out there,' a ministry spokesman said. Britain has 33,000 sq miles of water to police, but whereas the inspe ctorate has 170 employees, Spain, with the largest EU fleet, had, until a re cent increase, only 17 personnel. Not only are national inspectorates a poor example of subsidiarity in action, but the system is riddled with loopholes . For political reasons a proposal from the European Commission to land catc hes in specified local ports, where they could be more readily inspected, wa s turned down by the council of ministers. Catches by EU vessels are routine ly transferred at sea into the holds of non-EU boats - thereby evading inspe ction and recording. The most obvious example of catches leaving the Europea n fish-pond without proper recording is the klondykers. These factory ships are usually Polish or Russian owned. They are often in poor physical conditi on. They lie off Lerwick, Peterhead, Fraserburgh and Ullapool, lit up at nig ht like gently rocking cities, buying herring and mackerel and paying in cas h. The Common Fisheries Policy, formed in 1972 just before Britain joined th e EC, and which only produced its first conservation measures in 1983, is ab used on a giant scale. The 'black fish' catch is thought to have reached 50 per cent of the legitimate one and it has been estimated by a former head of EC fisheries conservation that of the 2.5m fishing trips made annually in E U waters, about 250,000 involve infringements. These include catching fish s urplus to quota, fish for which the boats have no quota, undersized fish (pi n hake 'as small as a Biro' were recently landed in northern Spain), or fish from waters with exhausted quotas. Such excesses need some explanation. The re is one. It is simply that EU member states have knowingly shrunk from imp lementing the recommended conservation measures because of their political i mplications. There is still public sympathy for fishermen, seen as hardy and independent souls whose efforts play a critical part in the national diet. Such sympathy may be misplaced. Scientists say catches that are now dwindlin g would have been on the increase had their recommendations been accepted. O ne of the most sensitive issues is the concept of a pan-European fishery ins pectorate. Nominally this exists in the form of an inspectorate of the inspe ctors. This small force evaluates enforcement; it is advisory; it handles co mplaints. But it lacks any vessels and its members must travel as passengers on national fishery protection boats. These surveillance programmes are oft en announced in advance, meaning the inspectorate is unlikely to be involved in any bruising scenes. Today's fishermen feel overwhelmed by a tightening net of regulations and restrictions. They are hemmed round by limits on days at sea, area restrictions, quotas, and most recently, intentions to limit f ishing effort. 'All out rebellion is in the air' as a recent Fishing News le ader put it. Against this picture of unrest among the last of the hunter-gat herers, fish consumption is rocketing, while improved fishing methods are ha rvesting the shrinking resource more efficiently. An effective pan-European fishery inspectorate may seem inconceivable given the nationalism and widely differing fishing status and practices of member states. But before fudging the issues again, politicians should consider how palatable it would be for the fishing industry in these most fecund waters to wither away as a result of its own abuses of the environment. For the sea's boundaries are an abstr act concept - an abstraction that is coming to mean much. It stretches the c oncept of a non-federalist EU to the limit. For if EU waters are to replace national ones, as they are treaty-bound to do, the logical consequence is fo r EU inspectors to replace local ones too. The telephone number for Dourado Sports Fishing, given at the end of an article by Tom Fort on fishing in Bra zil, published on October 29, should have read: 081-563 1988, fax: 081-563 2 230. The Financial Times London Page XI < /DOC> ============= Transaction # 93 ============================================== Transaction #: 93 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:20:24 Selec. Rec. #: 24 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-2053 _AN-ELQAUAAYFT 9412 17 FT 17 DEC 94 / Outdoors: Europe's fishing fleets prep are for war - Fish supplies are running out, but the authorities seem powerl ess to act By MICHAEL WIGAN The sea has always been a place of high feelings. It is becoming more so as fishing nations worldwide try to extend, or consolidate, their fishing zones. Nowhe re are the issues as complex, fraught and politicised as in the EU waters, u nder pressure from excess fish-catching capacity, lower stocks, and the conf licting ambitions of member states, particularly Spain as well as non-member Norway. Protectionism has never been more old-fashioned than when Spanish t una fishermen defending their traditional, long-line fishery in the Bay of B iscay brandished axes at the British arrivistes using deadlier modern drift- nets. Britain sent its own fishery protection service which proceeded to boa rd and inspect British, not Spanish, vessels. The tuna furore took place out side the EU 200-mile fisheries zone, on the high seas. Here the internationa l law of the sea holds sway, theoretically concerned only with piracy, slave -trading and the movement of illegal narcotics. Flag states may board their own nation's vessels anywhere. But in practice, within the EU fisheries zone , each member state's fishery protection force operates only in national wat ers. Spanish inspectors could, in theory, appear off Scottish coasts to moni tor Spanish fishermen but in practice they do not. It is believed by other s tates' fishermen that Spanish inspectors rarely police Spanish vessel. Polic ing EU waters state by state, with fishery protection forces from different maritime cultures, with differing motivations and muscle, is a disaster. Eac h nation's fishermen accuses its own fishery officers of being tougher than in other member states. British fishermen feel they are singled out by their own inspectors for specially rigorous treatment, a claim denied by protecti on officers themselves. Even so, the simplicity of dealing with own-nation b oats, UK registered, with UK addresses, is much more appealing than dealing with foreign boats whose crews may not speak any English. Even in British te rritorial waters, where England and Wales can call on nine Royal Navy vessel s and three aircraft, and Scotland on seven boats and two aircraft, fishery protection is only a partial affair. 'We cannot search every bit of the sea, but the fishermen know there is a presence out there,' a ministry spokesman said. Britain has 33,000 sq miles of water to police, but whereas the inspe ctorate has 170 employees, Spain, with the largest EU fleet, had, until a re cent increase, only 17 personnel. Not only are national inspectorates a poor example of subsidiarity in action, but the system is riddled with loopholes . For political reasons a proposal from the European Commission to land catc hes in specified local ports, where they could be more readily inspected, wa s turned down by the council of ministers. Catches by EU vessels are routine ly transferred at sea into the holds of non-EU boats - thereby evading inspe ction and recording. The most obvious example of catches leaving the Europea n fish-pond without proper recording is the klondykers. These factory ships are usually Polish or Russian owned. They are often in poor physical conditi on. They lie off Lerwick, Peterhead, Fraserburgh and Ullapool, lit up at nig ht like gently rocking cities, buying herring and mackerel and paying in cas h. The Common Fisheries Policy, formed in 1972 just before Britain joined th e EC, and which only produced its first conservation measures in 1983, is ab used on a giant scale. The 'black fish' catch is thought to have reached 50 per cent of the legitimate one and it has been estimated by a former head of EC fisheries conservation that of the 2.5m fishing trips made annually in E U waters, about 250,000 involve infringements. These include catching fish s urplus to quota, fish for which the boats have no quota, undersized fish (pi n hake 'as small as a Biro' were recently landed in northern Spain), or fish from waters with exhausted quotas. Such excesses need some explanation. The re is one. It is simply that EU member states have knowingly shrunk from imp lementing the recommended conservation measures because of their political i mplications. There is still public sympathy for fishermen, seen as hardy and independent souls whose efforts play a critical part in the national diet. Such sympathy may be misplaced. Scientists say catches that are now dwindlin g would have been on the increase had their recommendations been accepted. O ne of the most sensitive issues is the concept of a pan-European fishery ins pectorate. Nominally this exists in the form of an inspectorate of the inspe ctors. This small force evaluates enforcement; it is advisory; it handles co mplaints. But it lacks any vessels and its members must travel as passengers on national fishery protection boats. These surveillance programmes are oft en announced in advance, meaning the inspectorate is unlikely to be involved in any bruising scenes. Today's fishermen feel overwhelmed by a tightening net of regulations and restrictions. They are hemmed round by limits on days at sea, area restrictions, quotas, and most recently, intentions to limit f ishing effort. 'All out rebellion is in the air' as a recent Fishing News le ader put it. Against this picture of unrest among the last of the hunter-gat herers, fish consumption is rocketing, while improved fishing methods are ha rvesting the shrinking resource more efficiently. An effective pan-European fishery inspectorate may seem inconceivable given the nationalism and widely differing fishing status and practices of member states. But before fudging the issues again, politicians should consider how palatable it would be for the fishing industry in these most fecund waters to wither away as a result of its own abuses of the environment. For the sea's boundaries are an abstr act concept - an abstraction that is coming to mean much. It stretches the c oncept of a non-federalist EU to the limit. For if EU waters are to replace national ones, as they are treaty-bound to do, the logical consequence is fo r EU inspectors to replace local ones too. The telephone number for Dourado Sports Fishing, given at the end of an article by Tom Fort on fishing in Bra zil, published on October 29, should have read: 081-563 1988, fax: 081-563 2 230. The Financial Times London Page XI < /DOC> ============= Transaction # 94 ============================================== Transaction #: 94 Transaction Code: 23 (Saved Recs. Viewed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:20:59 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 95 ============================================== Transaction #: 95 Transaction Code: 25 (Saved Recs. E-Mailed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:21:32 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: Subject: s1-t2 ---------- 1. DOCUMENT NO.: FT944-9398. HEADLINE: FT 16 NOV 94 / Law of the Sea promises many disputes . BYLI NE: By BRUCE CLARK, Diplomatic Correspondent . PUBLICATION: The F inancial Times . PAGE: London Page 6 . TEXT: The United Na tions Convention on the Law of the Sea, which enters full force today, seems likely to be treated by coastal states as a rich source of legal and rhetor ical arguments to be used against rivals. This is in spite of the fact that the last thing the law's drafters wanted was to provide disputatious countri es with extra torpedoes. One of the law's ostensible purposes is to encourag e compromises over the exploitation of maritime resources, even among countr ies with unresolved disputes. Apart from a standoff in the Aegean - where Tu rkey has threatened war if Greece extends its territorial waters to 12 miles - one of the most grave maritime disputes involves China and Vietnam, locke d in a war of words over oil rights in the South China Sea. Both China and V ietnam claim to be acting in accordance with the Law of the Sea but their in terpretations of the document are miles apart. Over the last month, China ha s accused Vietnam of infringing its interests in international waters by inv iting US and European companies to explore for oil in the Tonkin Gulf. Vietn am has retorted that it is exercising its legitimate rights in the economic zone to which it is entitled by the UN convention. It said that under the te rms of that treaty, there were no international waters in the Gulf. This dia logue of the deaf reflects confusion over the difference between territorial waters - which may be extended, under the UN Law, up to 12 miles -and the 'economic zone' which coastal states are entitled to claim, amounting to eit her 200 miles or the full extent of their continental shelf, whichever is la rger. China and Vietnam are also arguing over resources around the Spratly I slands, a group of reefs and atolls whose other would-be owners are Taiwan, Brunei, Malaysia and the Philippines. China has awarded an exploration contr act to the US company Crestone for an area south-west of the Spratlys, while Vietnam has awarded a consortium led by Mobil a bloc slightly further to th e west. Each state has denounced the other's contract. Sovereignty over the Spratlys - and hence control of the surrounding economic zone - is crucial t o each side's claim to energy rights, and the salience of this issue is expe cted to grow as the UN convention enters force. However a study by a London- based law firm, maintains that the law favours pragmatic joint exploitation accords, even among countries with unresolved disputes.* Laying out the comm on-sense arguments for such accords, it notes that oil deposits which stradd le two states' economic zones cannot be exploited by one without damaging th e other's interests. When one state drills, oil from the rival state's zone is liable to flow across the boundary line as a result. Article 83 of the UN convention says that pending final agreement on zones, countries should 'ma ke every effort to enter into provisional arrangements of a practical nature '. As an example of such a deal, the study cites the 1989 accord between Aus tralia and Indonesia over waters south of Timor. However, such accords are n ot a panacea. Portugal - still seen by the UN as legal administrator of East Timor - has challenged Australia's right to enter the accord, before the In ternational Court of Justice. The entry into force of the UN Law comes a yea r after its ratification by the minimum of 60 states. Another breakthrough c ame this summer when provisions on deep-sea mining - outside the zones of an y country - were amended so as to convince the US, the UK and Germany to sig n. *Paper by Charles Robson of Lovell White Durrant, 65 Holborn Viaduct, Lon don EC1A 2DY . 2. DOCUMENT NO.: FT944-9095. HEADLINE: FT 17 NOV 94 / Australia extends offshore zone . BYLINE: By NIKKI TAIT . DATELI NE: SYDNEY . PUBLICATION: The Financial Times . PAGE: Lond on Page 7 . TEXT: Australia doubled in size yesterday, as it formal ly claimed massive new offshore territory under an international 'law of the sea' convention. The 1982 United Nations Convention of the Law of the Sea, which was finally ratified this year, aims to divide about 35 per cent of th e world's oceans among over 100 countries. In Australia's case it means that the country can claim an exclusive economic zone extending 200 nautical mil es from its baselines, instead of the traditional 12 miles. Because of the n ation's extensive coastline it is now claiming around 5.7m sq miles of ocean water, of which 4.2m sq miles derives from the new extended nautical limits . As a result, Australia can boast one of the largest 'exclusive economic zo nes' in the world. While much of the additional territory is undisputed, the re is disagreement with Indonesia over territory around Christmas Island and off the north coast of Australia, including the resource-rich Timor Gap. . 3. DOCUMENT NO.: FT921-10970. HEADLINE: FT 04 FEB 92 / Egypt and Su dan in oil dispute . BYLINE: By TONY WALKER and SHAHIRA IDRIS . DA TELINE: CAIRO . PUBLICATION: The Financial Times . PAGE: L ondon Page 4 Map (Omitted). . TEXT: EGYPT AND Sudan have become emb roiled in a border dispute over oil exploration in the Red Sea, and the argu ment seems likely to complicate already tense relations between Cairo and Kh artoum. Egypt has advised all international oil companies that Sudan has no authority to sign exploration agreements for acreage north of their 'politic al' boundary delineated by latitude 22 degrees north under an 1899 treaty. E gypt was reacting to an agreement signed last month between Sudan and the Ca nadian-registered International Petroleum Corporation for seismic work in wa ters north of 22 degrees in an area Egypt claims as sovereign territory. Sud an, however, believes an 'administrative' boundary, agreed in 1902, which ru ns north of the political boundary, entitles it to allow exploration north o f 22 degrees. The dispute could hardly come at a more awkward moment, with r elations between moderate rulers in Cairo and the Islamicist-dominated milit ary regime in Sudan under severe strain. It also coincides with reports of r ecent troubles between Egyptian and Sudanese patrols in the triangle formed by the 'political' and 'administrative' boundaries. The 'political' boundary came into effect with the Anglo-Egyptian condominium agreement of 1899. It was followed three years later by an amendment that gave Sudan administrativ e responsibility for tribes north of 1899 boundary in the east. Egypt was gi ven responsibility for a small section south of the line about half-way betw een the Red Sea coast and the Nile. It is unclear whether the 'political' or 'administrative' boundaries have international boundary status. This issue may in the end require international jurisdiction. In the meantime Egypt, wh ich is keen to promote offshore exploration in the Red Sea, is offering a la rge block which runs south to its 'political' boundary with Sudan, and in fa ct includes acreage targeted for exploration by International Petroleum. In Geneva, International Petroleum said it was planning to go ahead with its se ismic survey in its 10,000 square kilometre Halaib block. A spokesman said t hat until the Egyptians had complained he had not been aware that the area w as in dispute. Egypt, through its embassy in Ottawa, informed the Canadian g overnment, and through it International Petroleum, that it regarded explorat ion in waters off the area under dispute latitude as 'illegal.' In Cairo, a spokesman for the Canadian embassy said the issue was under discussion with both Egypt and Sudan. He said the Sudanese were insisting they had a right t o enter into exploration a greements for areas in their 'administrative' zon e. . 4. DOCUMENT NO.: FT944-8867. HEADLINE: FT 17 NOV 94 / US cruis er tracks Greek and Turkish contingents: Marine rights row leads to fear of war between Nato neighbours . BYLINE: By KERIN HOPE and JOHN BARHA M . DATELINE: ATHENS, ANKARA . PUBLICATION: The Financial Times . P AGE: International Page 22 . TEXT: A US Navy cruiser was y esterday monitoring Greek and Turkish naval activities in the Aegean, where fears of war have been triggered by the start of a new international law. Th e United Nations Convention on the Law of the Sea has been hailed in Athens as a vindication of its long-standing argument that it has the right to exte nd its territorial waters from 6 miles to 12. Turkey has said that any such move by Athens would turn the Aegean into a 'Greek lake' and would be resist ed by force. Greece says it has no plans to extend its territorial waters, b ut it will not renounce the right to do so. An opinion poll published this w eek showed that 79 per cent of Turks would support war if Greece declared a 12-mile limit. The quarrel dates from an offshore oil strike west of the Gre ek island of Thasos more than 20 years ago. The Athens government rejects Tu rkish proposals for joint oil exploration in the Aegean. The Cape St George, a US cruiser equipped with the latest electronic surveillance devices, was yesterday tracking Turkish warships and Greek aircraft across the Aegean. Pr esident Bill Clinton has written to the leaders of both countries urging the m to show restraint and avoid the risk of clashes. Mr Mumtaz Soysal, the Tur kish foreign minister, said Ankara has assured Mr Clinton that it had taken all possible measures to avoid a clash. Mr Soysal met Mr Karolos Papoulis, h is Greek counterpart, in The Hague this week, but there was little sign of a change in positions. Turkey wants across-the-board negotiations on all the issues which it says are in dispute. Greece says the only issue that needs d iscussing is that of seabed mineral rights, which it wants settled by intern ational arbitration. Relations between Athens and Ankara have also been wors ened by the war in former Yugoslavia, where Turkey supports the Bosnian Mosl ems while Greece has traditional links with the Serbs. Turkey was the only E uropean member of Nato to support the US withdrawal from the arms embargo ag ainst Bosnia. Recently, Turkey gave a new thrust to the old antagonisms by a ccusing Greece of harbouring guerrillas from the separatist Kurdistan Worker s party (PKK) fighting in eastern Turkey. The US Navy, in this year's annual intelligence report, described the Greek-Turkish standoff as one of the 'mo st worrisome situations developing in Europe and the most dangerous to Nato as an institution'. The report says tension in the Aegean has also been stok ed by supplies to both countries of new and secondhand ships from other Nato countries. Diplomats said they were alarmed that a hot-line between the two countries, set up after they came close to war in 1987, had ceased to funct ion. Turkey is conducting its manoeuvres this week in international waters i n the northern Aegean. About 100 miles to the south, the Greek navy is in ch arge of a Nato exercise held every year involving ships and aircraft from th e US, France, Italy, Spain and the UK. . 5. DOCUMENT NO.: FT944-7864. HEA DLINE: FT 23 NOV 94 / Beijing and Hanoi aim to settle differences over Spratlys . BYLINE: By VICTOR MALLET . DATELINE: BANGKOK . PUBLICATION: The Financial Times . PAGE: London Page 8 . TEXT: China and Vietnam agreed yesterday to work peacefully to resolve thei r disputes over territorial and maritime boundaries, and are to set up a gro up of experts to discuss their rival claims to the Spratly atolls and the wa ters of the South China Sea. A joint communique released at the end of a thr ee-day visit to Vietnam by China's President Jiang Zemin said the two govern ments agreed to 'refrain from all acts that make things more complicated or broaden conflicts'. The dispute over the South China Sea is especially sensi tive, because each country is seeking to exploit oil and gas reserves believ ed to lie under the sea bed. Both countries have awarded oil exploration con tracts to US oil companies in disputed waters. Mr Qian Qichen, Chinese forei gn minister, said in the Vietnamese capital Hanoi the two sides could shelve disputes and start 'joint development' if problems could not be resolved in talks immediately. Joint development of possible oil and gas fields in disp uted maritime areas is a proven method of overcoming conflicts between two c ountries, but might not succeed in all areas of the sea because there are fo ur other claimants to some or all of the islands: Taiwan, Malaysia, the Phil ippines and Brunei. Relations between Hanoi and Beijing have improved in the past few years. But Vietnamese officials say China has recently encroached on their territory near the border, refused to open a railway link to allow normal trade across the land frontier, and let Chinese traders smuggle cheap Chinese goods into Vietnam. Mr Jiang's visit, the first by a Chinese presid ent, may not have brought much in the way of concrete achievements, but sugg ests the two governments want to set aside their differences and concentrate on the similar challenges each faces: keeping their one-party communist pol itical systems intact while liberalising the economy. . 6. DOCUMENT NO.: FT944-11862. HEADLINE: FT 04 NOV 94 / Cypriots join in the Aegean war of words . BYLINE: By BRUCE CLARK, Diplomatic Correspondent . PUBL ICATION: The Financial Times . PAGE: London Page 2 . TEXT: The gap between Greek-Cypriot and Turkish-Cypriot positions over the islan d's future is widening ominously, at a time when Athens and Ankara are alrea dy squaring off over territorial rights in the Aegean. Greek-Cypriot officia ls have in the last few days accused both the Turkish Cypriots and Ankara of renouncing the 1977 and 1979 agreements - calling for the island to be reun ited as a bi-zonal federation - which have served as the basis for all subse quent negotiations. Leaders of the island's Greek Cypriot majority have alwa ys argued for as full-blooded a federation as possible, while the Turkish Cy priots want relatively loose ties between mainly Greek and mainly Turkish zo nes. Until recently, UN-sponsored negotiations have proceeded on the basis t hat a federal Cyprus would be a sovereign state, albeit loosely structured. But Mr Mumtaz Soysal, the new Turkish foreign minister who has called for a tougher stance on Turkish-Greek disputes, caused a sensation in Athens this week by saying that both parts of Cyprus were and would remain sovereign ent ities. He said the Cyprus problem was 'half-solved already' and all that rem ained was for the two sides to agree on co-operation in such areas as touris m and the environment. The Turkish minister's words were denounced by the Cy prus government, although there was quiet satisfaction among hardline Greek politicians, who have all along doubted the value of reconciliation talks. ' We are at a worse impasse than before,' said Mr Alecos Michaelides, foreign minister in the Greek Cypriot government. 'They (the Turkish Cypriots) are n ow abandoning the idea of a federation . . . and this makes it difficult eve n to start discussions.' The Greek Cypriots are now expected to intensify pr essure on the UN for a statement that blames Turkish intransigence for the l ack of progress. They are also stepping up their campaign for accession to t he European Union, something the Turkish side opposes as long as there is no settlement. In a separate Greek-Turkish dispute, Mr Soysal has again warned Athens that Turkey will go to war if Greece exercises the option of extendi ng its territorial waters from six miles to 12 after November 16, when a new international law on the sea enters force. . 7. DOCUMENT NO.: FT944-2053 . HEADLINE: FT 17 DEC 94 / Outdoors: Europe's fishing fleets prepare f or war - Fish supplies are running out, but the authorities seem powerless t o act . BYLINE: By MICHAEL WIGAN . PUBLICATION: The Financial Tim es . PAGE: London Page XI . TEXT: The sea has always been a place of high feelings. It is becoming more so as fishing nations worldwid e try to extend, or consolidate, their fishing zones. Nowhere are the issues as complex, fraught and politicised as in the EU waters, under pressure fro m excess fish-catching capacity, lower stocks, and the conflicting ambitions of member states, particularly Spain as well as non-member Norway. Protecti onism has never been more old-fashioned than when Spanish tuna fishermen def ending their traditional, long-line fishery in the Bay of Biscay brandished axes at the British arrivistes using deadlier modern drift-nets. Britain sen t its own fishery protection service which proceeded to board and inspect Br itish, not Spanish, vessels. The tuna furore took place outside the EU 200-m ile fisheries zone, on the high seas. Here the international law of the sea holds sway, theoretically concerned only with piracy, slave-trading and the movement of illegal narcotics. Flag states may board their own nation's vess els anywhere. But in practice, within the EU fisheries zone, each member sta te's fishery protection force operates only in national waters. Spanish insp ectors could, in theory, appear off Scottish coasts to monitor Spanish fishe rmen but in practice they do not. It is believed by other states' fishermen that Spanish inspectors rarely police Spanish vessel. Policing EU waters sta te by state, with fishery protection forces from different maritime cultures , with differing motivations and muscle, is a disaster. Each nation's fisher men accuses its own fishery officers of being tougher than in other member s tates. British fishermen feel they are singled out by their own inspectors f or specially rigorous treatment, a claim denied by protection officers thems elves. Even so, the simplicity of dealing with own-nation boats, UK register ed, with UK addresses, is much more appealing than dealing with foreign boat s whose crews may not speak any English. Even in British territorial waters, where England and Wales can call on nine Royal Navy vessels and three aircr aft, and Scotland on seven boats and two aircraft, fishery protection is onl y a partial affair. 'We cannot search every bit of the sea, but the fisherme n know there is a presence out there,' a ministry spokesman said. Britain ha s 33,000 sq miles of water to police, but whereas the inspectorate has 170 e mployees, Spain, with the largest EU fleet, had, until a recent increase, on ly 17 personnel. Not only are national inspectorates a poor example of subsi diarity in action, but the system is riddled with loopholes. For political r easons a proposal from the European Commission to land catches in specified local ports, where they could be more readily inspected, was turned down by the council of ministers. Catches by EU vessels are routinely transferred at sea into the holds of non-EU boats - thereby evading inspection and recordi ng. The most obvious example of catches leaving the European fish-pond witho ut proper recording is the klondykers. These factory ships are usually Polis h or Russian owned. They are often in poor physical condition. They lie off Lerwick, Peterhead, Fraserburgh and Ullapool, lit up at night like gently ro cking cities, buying herring and mackerel and paying in cash. The Common Fis heries Policy, formed in 1972 just before Britain joined the EC, and which o nly produced its first conservation measures in 1983, is abused on a giant s cale. The 'black fish' catch is thought to have reached 50 per cent of the l egitimate one and it has been estimated by a former head of EC fisheries con servation that of the 2.5m fishing trips made annually in EU waters, about 2 50,000 involve infringements. These include catching fish surplus to quota, fish for which the boats have no quota, undersized fish (pin hake 'as small as a Biro' were recently landed in northern Spain), or fish from waters with exhausted quotas. Such excesses need some explanation. There is one. It is simply that EU member states have knowingly shrunk from implementing the rec ommended conservation measures because of their political implications. Ther e is still public sympathy for fishermen, seen as hardy and independent soul s whose efforts play a critical part in the national diet. Such sympathy may be misplaced. Scientists say catches that are now dwindling would have been on the increase had their recommendations been accepted. One of the most se nsitive issues is the concept of a pan-European fishery inspectorate. Nomina lly this exists in the form of an inspectorate of the inspectors. This small force evaluates enforcement; it is advisory; it handles complaints. But it lacks any vessels and its members must travel as passengers on national fish ery protection boats. These surveillance programmes are often announced in a dvance, meaning the inspectorate is unlikely to be involved in any bruising scenes. Today's fishermen feel overwhelmed by a tightening net of regulation s and restrictions. They are hemmed round by limits on days at sea, area res trictions, quotas, and most recently, intentions to limit fishing effort. 'A ll out rebellion is in the air' as a recent Fishing News leader put it. Agai nst this picture of unrest among the last of the hunter-gatherers, fish cons umption is rocketing, while improved fishing methods are harvesting the shri nking resource more efficiently. An effective pan-European fishery inspector ate may seem inconceivable given the nationalism and widely differing fishin g status and practices of member states. But before fudging the issues again , politicians should consider how palatable it would be for the fishing indu stry in these most fecund waters to wither away as a result of its own abuse s of the environment. For the sea's boundaries are an abstract concept - an abstraction that is coming to mean much. It stretches the concept of a non-f ederalist EU to the limit. For if EU waters are to replace national ones, as they are treaty-bound to do, the logical consequence is for EU inspectors t o replace local ones too. The telephone number for Dourado Sports Fishing, g iven at the end of an article by Tom Fort on fishing in Brazil, published on October 29, should have read: 081-563 1988, fax: 081-563 2230. . ============= Transaction # 96 ============================================== Transaction #: 96 Transaction Code: 26 (Saved Recs. Cleared) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:21:37 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 97 ============================================== Transaction #: 97 Transaction Code: 15 (Terms Cleared) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:21:39 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 98 ============================================== Transaction #: 98 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:24:49 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 5 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {smuggling smuggle refugee border smuggles})" ============= Transaction # 99 ============================================== Transaction #: 99 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:24:52 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 6377 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 100 ============================================== Transaction #: 100 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:28:11 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 2 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic {smuggle} and topic {human})" ============= Transaction # 101 ============================================== Transaction #: 101 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:28:14 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 44 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 102 ============================================== Transaction #: 102 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:28:51 Selec. Rec. #: 4 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-10331 _AN-CBFBEAFAFT 920 206 FT 06 FEB 92 / Arts: Caesar and Cleopatra - Greenwic h Theatre By CLAIRE ARMITSTEAD Geor ge Bernard Shaw wrote Caesar and Cleopatra for the actor Johnston Forbes-Rob ertson in 1898, aiming to illustrate through the character of Caesar his vie ws about the common humanity of even the most exalted heroes, while chronicl ing a corner of Roman history that languishes in the shadow of Shakespeare's Antony and Cleopatra. His Caesar, finely realised by Alec McCowen, is a wry , kindly philistine, by his own admission 'part brute, part woman and part g od', whose laurels conceal a balding head, and whose good nature hides a cun ning - and finally ruthless - political brain. We see him first apostrophisi ng beside the monumental claw of a black marble sphinx, enchanted by the fri ghtened young queen who finds him there. Having convinced her that Romans do not in fact eat Egyptians, he proceeds to amuse himself by making an empres s of her. With feet dangling six inches off the ground, Amanda Root's minxis h Cleopatra settles into her throne, tearing into her domineering governess (a sinister Sheila Ballantine), squabbling with her brother, while creating merry mayhem with the protocol of both Roman and Egyptian courts. Matthew Fr ancis's production gleefully captures the mischief of these early scenes. Th e design (Julian McGowan), of ornate statuary dotted around marble halls, is subverted by the frock-coats and laurels of the Romans. Britannus, Shaw's s end-up of the British character, is played by Michael Cronin with bowler hat and poker face, making the maximum comic mileage out of the undignified div e into the waters of the Nile of the entire Roman court, carrying a protesti ng Egyptian queen who, minutes earlier, had smuggled herself over to Alexand ria in a carpet. The fun and games of the first three acts are abruptly halt ed in a second half which changes gear into an essay on political methods. C leopatra, cleverly transformed by Root into a rather charmless sophisticate, is now dangerously confident; Caesar, still making a show of being the geni al Dutch uncle, is put on his mettle by the murder of the scheming Egyptian Pothinus, and the resulting uprising by his followers. In a superbly enginee red scene of confrontation between morals and expediency, the ruthlessness i s revealed of a colonialist whose 'hands-off' liberalism is merely a strateg y for allowing his minions to sort themselves out. Having failed to prevent Cleopatra's henchwoman Ftatateeta from killing Pothinus, Caesar lets Rufius - the new governor of Egypt - murder her, before turning his back on the lot of them in a devastating display of political indifference. Feigning the fo rgetfulness of an old man, he slights Cleopatra by neglecting to take proper leave of her; the unspoken insult is left frozen in the air between them. J udicious cutting and exemplary central performances have excavated a chillin g political parable from a rambling Shavian chronicle about a king and a kit ten. The Financial Times London Page 19 Photograp h Alec McCowen and Amanda Root (Omitted). ============= Transaction # 103 ============================================== Transaction #: 103 Transaction Code: 30 (Rel. Feedback Cancelled) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:28:57 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 104 ============================================== Transaction #: 104 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:28:59 Selec. Rec. #: 4 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT921-10331 _AN-CBFBEAFAFT 920 206 FT 06 FEB 92 / Arts: Caesar and Cleopatra - Greenwic h Theatre By CLAIRE ARMITSTEAD Geor ge Bernard Shaw wrote Caesar and Cleopatra for the actor Johnston Forbes-Rob ertson in 1898, aiming to illustrate through the character of Caesar his vie ws about the common humanity of even the most exalted heroes, while chronicl ing a corner of Roman history that languishes in the shadow of Shakespeare's Antony and Cleopatra. His Caesar, finely realised by Alec McCowen, is a wry , kindly philistine, by his own admission 'part brute, part woman and part g od', whose laurels conceal a balding head, and whose good nature hides a cun ning - and finally ruthless - political brain. We see him first apostrophisi ng beside the monumental claw of a black marble sphinx, enchanted by the fri ghtened young queen who finds him there. Having convinced her that Romans do not in fact eat Egyptians, he proceeds to amuse himself by making an empres s of her. With feet dangling six inches off the ground, Amanda Root's minxis h Cleopatra settles into her throne, tearing into her domineering governess (a sinister Sheila Ballantine), squabbling with her brother, while creating merry mayhem with the protocol of both Roman and Egyptian courts. Matthew Fr ancis's production gleefully captures the mischief of these early scenes. Th e design (Julian McGowan), of ornate statuary dotted around marble halls, is subverted by the frock-coats and laurels of the Romans. Britannus, Shaw's s end-up of the British character, is played by Michael Cronin with bowler hat and poker face, making the maximum comic mileage out of the undignified div e into the waters of the Nile of the entire Roman court, carrying a protesti ng Egyptian queen who, minutes earlier, had smuggled herself over to Alexand ria in a carpet. The fun and games of the first three acts are abruptly halt ed in a second half which changes gear into an essay on political methods. C leopatra, cleverly transformed by Root into a rather charmless sophisticate, is now dangerously confident; Caesar, still making a show of being the geni al Dutch uncle, is put on his mettle by the murder of the scheming Egyptian Pothinus, and the resulting uprising by his followers. In a superbly enginee red scene of confrontation between morals and expediency, the ruthlessness i s revealed of a colonialist whose 'hands-off' liberalism is merely a strateg y for allowing his minions to sort themselves out. Having failed to prevent Cleopatra's henchwoman Ftatateeta from killing Pothinus, Caesar lets Rufius - the new governor of Egypt - murder her, before turning his back on the lot of them in a devastating display of political indifference. Feigning the fo rgetfulness of an old man, he slights Cleopatra by neglecting to take proper leave of her; the unspoken insult is left frozen in the air between them. J udicious cutting and exemplary central performances have excavated a chillin g political parable from a rambling Shavian chronicle about a king and a kit ten. The Financial Times London Page 19 Photograp h Alec McCowen and Amanda Root (Omitted). ============= Transaction # 105 ============================================== Transaction #: 105 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:29:25 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 1 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic {smuggle})" ============= Transaction # 106 ============================================== Transaction #: 106 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:29:26 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 555 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 107 ============================================== Transaction #: 107 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:30:07 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 1 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {smuggle})" ============= Transaction # 108 ============================================== Transaction #: 108 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:30:09 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 555 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 109 ============================================== Transaction #: 109 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:31:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 555 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 110 ============================================== Transaction #: 110 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:31:57 Selec. Rec. #: 22 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT933-11804 _AN-DG1B8ABEFT 930 728 FT 28 JUL 93 / US tightens immigration curbs By GEORGE GRAHAM PRESIDENT Bill Clinton ye sterday launched a programme to tighten US immigration controls and clamp do wn on smuggling rings that bring foreigners into the country illegally. He a sked Congress for Dollars 172m to hire up to 600 more border patrol agents a nd boost efforts to stop immigrant-smugglers and intercept smuggling ships a t sea. 'It's certainly plain to anybody with eyes to see that the border pat rol is drastically understaffed, breathtakingly understaffed,' Mr Clinton sa id. He also called for a process of 'expedited exclusion' which would allow officials to rule summarily on asylum requests, instead of allowing asylum-s eekers to stay for months while their cases are judged. Anyone trying to smu ggle in aliens would face anti-racketeering charges and doubled prison sente nces. In recent months, there have been a series of attempts to land illegal immigrants by ship. The measures have also been prompted by doubts about th e effectiveness of US consular officials in screening visa applicants for te rrorist links. There is the recent case of Sheikh Omar Abdel Rahman, a milit ant Moslem preacher, several of whose followers have been arrested in connec tion with the bombing of the World Trade Centre in New York. Sheikh Omar is in custody awaiting deportation proceedings, although he entered the US lega lly on a visa issued after a CIA review. Mr Clinton insisted the US was not seeking to close its doors to legal immigrants and would remain 'the world's greatest melting pot'. However, 'we must say no to illegal immigration so w e can continue to say yes to legal immigration,' he said. Count ries:- USZ United States of America. Industries:- P9721 International Affairs. Types:- NEWS Genera l News. The Financial Times London Page 4 < /DOC> ============= Transaction # 111 ============================================== Transaction #: 111 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:32:03 Selec. Rec. #: 22 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT933-11804 _AN-DG1B8ABEFT 930 728 FT 28 JUL 93 / US tightens immigration curbs By GEORGE GRAHAM PRESIDENT Bill Clinton ye sterday launched a programme to tighten US immigration controls and clamp do wn on smuggling rings that bring foreigners into the country illegally. He a sked Congress for Dollars 172m to hire up to 600 more border patrol agents a nd boost efforts to stop immigrant-smugglers and intercept smuggling ships a t sea. 'It's certainly plain to anybody with eyes to see that the border pat rol is drastically understaffed, breathtakingly understaffed,' Mr Clinton sa id. He also called for a process of 'expedited exclusion' which would allow officials to rule summarily on asylum requests, instead of allowing asylum-s eekers to stay for months while their cases are judged. Anyone trying to smu ggle in aliens would face anti-racketeering charges and doubled prison sente nces. In recent months, there have been a series of attempts to land illegal immigrants by ship. The measures have also been prompted by doubts about th e effectiveness of US consular officials in screening visa applicants for te rrorist links. There is the recent case of Sheikh Omar Abdel Rahman, a milit ant Moslem preacher, several of whose followers have been arrested in connec tion with the bombing of the World Trade Centre in New York. Sheikh Omar is in custody awaiting deportation proceedings, although he entered the US lega lly on a visa issued after a CIA review. Mr Clinton insisted the US was not seeking to close its doors to legal immigrants and would remain 'the world's greatest melting pot'. However, 'we must say no to illegal immigration so w e can continue to say yes to legal immigration,' he said. Count ries:- USZ United States of America. Industries:- P9721 International Affairs. Types:- NEWS Genera l News. The Financial Times London Page 4 < /DOC> ============= Transaction # 112 ============================================== Transaction #: 112 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:32:24 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 555 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 113 ============================================== Transaction #: 113 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:32:34 Selec. Rec. #: 25 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-5376 _AN-DFDB5AAZFT 9306 04 FT 04 JUN 93 / China to act on illegal emigrants By AP THE US Coast Guard intercepted tw o boats trying to smuggle 270 Chinese into California yesterday, coinciding with a Chinese government statement that it had stepped up efforts to halt i llegal emigration, AP reports. 'The public security departments have stepped up efforts to track down the criminal groups organising human smuggling and patrols at sea,' a Chinese Foreign Ministry spokesman said. Since January a uthorities on both sides of the Pacific have intercepted boats carrying abou t 2,500 Chinese, each of whom had paid or promised smugglers Dollars 20,000- Dollars 30,000 (Pounds 13,000-Pounds 19,500) to get them into the US illegal ly. Many others are entering overland from Mexico or arriving at airports wi th false documents. Countries:- USZ United States of America. CNZ China, Asia. Industries:- P9721 Inte rnational Affairs. Types:- NEWS General News.

The Financial Times London Page 4 ============= Transaction # 114 ============================================== Transaction #: 114 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:32:37 Selec. Rec. #: 25 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-5376 _AN-DFDB5AAZFT 9306 04 FT 04 JUN 93 / China to act on illegal emigrants By AP THE US Coast Guard intercepted tw o boats trying to smuggle 270 Chinese into California yesterday, coinciding with a Chinese government statement that it had stepped up efforts to halt i llegal emigration, AP reports. 'The public security departments have stepped up efforts to track down the criminal groups organising human smuggling and patrols at sea,' a Chinese Foreign Ministry spokesman said. Since January a uthorities on both sides of the Pacific have intercepted boats carrying abou t 2,500 Chinese, each of whom had paid or promised smugglers Dollars 20,000- Dollars 30,000 (Pounds 13,000-Pounds 19,500) to get them into the US illegal ly. Many others are entering overland from Mexico or arriving at airports wi th false documents. Countries:- USZ United States of America. CNZ China, Asia. Industries:- P9721 Inte rnational Affairs. Types:- NEWS General News.

The Financial Times London Page 4 ============= Transaction # 115 ============================================== Transaction #: 115 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:33:26 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 555 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 116 ============================================== Transaction #: 116 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:34:36 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 3 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {smuggle trunk car})" ============= Transaction # 117 ============================================== Transaction #: 117 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:34:41 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 13153 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 118 ============================================== Transaction #: 118 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:35:29 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 1 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {immigrant})" ============= Transaction # 119 ============================================== Transaction #: 119 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:35:31 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 1441 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 120 ============================================== Transaction #: 120 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:36:39 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 2 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {immigrant smuggle})" ============= Transaction # 121 ============================================== Transaction #: 121 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:36:40 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 1966 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 122 ============================================== Transaction #: 122 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:37:50 Selec. Rec. #: 3 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-2315 _AN-DFTAMAAXFT 9306 19 FT 19 JUN 93 / Alien crackdown By REUTER President Bill Clinton yesterday named Doris Me issner to be US immigration chief and unveiled a strategy to fight the 'sham eful practice' of smuggling aliens into the US, Reuter reports. He said orga nised crime charged huge amounts to transport immigrants to slave-like work in the US. Countries:- USZ United States of America. Industries:- P9721 International Affairs. T ypes:- PEOP People. The Financial Times London Page 2 ============= Transaction # 123 ============================================== Transaction #: 123 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:37:56 Selec. Rec. #: 3 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-2315 _AN-DFTAMAAXFT 9306 19 FT 19 JUN 93 / Alien crackdown By REUTER President Bill Clinton yesterday named Doris Me issner to be US immigration chief and unveiled a strategy to fight the 'sham eful practice' of smuggling aliens into the US, Reuter reports. He said orga nised crime charged huge amounts to transport immigrants to slave-like work in the US. Countries:- USZ United States of America. Industries:- P9721 International Affairs. T ypes:- PEOP People. The Financial Times London Page 2 ============= Transaction # 124 ============================================== Transaction #: 124 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:38:13 Selec. Rec. #: 4 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT931-8991 _AN-DBQC0AALFT 9302 17 FT 17 FEB 93 / Immigrants crackdown agreed By NICHOLAS DENTON BUDAPEST INTERIOR ministers from 35 European countries yesterday agreed to c rack down on the wave of illegal immigration from east to west which is fuel ling anti-foreigner violence in Germany and elsewhere. The ministers said or ganised smuggling of illegal immigrants would be made a criminal offence acr oss Europe. They also agreed that airlines, as well as land and sea carriers , should be liable to fines under new rules on the movement of illegal alien s. The conference of ministers from east and western Europe follows pressure for co-ordinated efforts to reduce an increasing flow of illegal immigratio n that ministers say has fuelled xenophobia and been exploited by organised crime. The ministers agreed to set up special police units and mobile survei llance forces to a standard model. The governments also agreed to exchange i nformation and adopt a common code on border checks. But ministers from seve ral countries including Britain, balked at the German demand for a common co de on repatriation and on sharing the financial burdens of combating illegal immigration. The outcome of the meeting yesterday displayed the limits of p an-European co-operation on paying for immigration. Interests diverge: Germa ny, Austria, Switzerland and Sweden have borne the brunt of the influx from eastern Europe and are pushing for action, while their neighbours to the wes t are more concerned about migrants from other continents. Germany sought ye sterday to allay the fears of Poland and the Czech Republic that they would become part of a 'refugee zone' if Germany turned back more asylum seekers. Last week, Bonn offered Warsaw DM55m (Pounds 23m) to finance refugee camps. Attention will now turn to sub-regional initiatives, particularly bilateral talks with neighbouring Poland and the Czech Republic. Mr Rudolf Seiters, Ge rman interior minister, yesterday gave early March as the date for the next round of talks with Poland on financial aid in exchange for providing transi t for rejected asylum-seekers before repatriation. He also announced talks s oon in Prague on a multilateral approach to expelling illegal immigrants. Ed itorial Comment, Page 17 Countries:- XGZ Europe. Industries:- P9721 International Affairs. Types :- GOVT Government News. The Financial Times

London Page 2 ============= Transaction # 125 ============================================== Transaction #: 125 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:38:18 Selec. Rec. #: 4 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT931-8991 _AN-DBQC0AALFT 9302 17 FT 17 FEB 93 / Immigrants crackdown agreed By NICHOLAS DENTON BUDAPEST INTERIOR ministers from 35 European countries yesterday agreed to c rack down on the wave of illegal immigration from east to west which is fuel ling anti-foreigner violence in Germany and elsewhere. The ministers said or ganised smuggling of illegal immigrants would be made a criminal offence acr oss Europe. They also agreed that airlines, as well as land and sea carriers , should be liable to fines under new rules on the movement of illegal alien s. The conference of ministers from east and western Europe follows pressure for co-ordinated efforts to reduce an increasing flow of illegal immigratio n that ministers say has fuelled xenophobia and been exploited by organised crime. The ministers agreed to set up special police units and mobile survei llance forces to a standard model. The governments also agreed to exchange i nformation and adopt a common code on border checks. But ministers from seve ral countries including Britain, balked at the German demand for a common co de on repatriation and on sharing the financial burdens of combating illegal immigration. The outcome of the meeting yesterday displayed the limits of p an-European co-operation on paying for immigration. Interests diverge: Germa ny, Austria, Switzerland and Sweden have borne the brunt of the influx from eastern Europe and are pushing for action, while their neighbours to the wes t are more concerned about migrants from other continents. Germany sought ye sterday to allay the fears of Poland and the Czech Republic that they would become part of a 'refugee zone' if Germany turned back more asylum seekers. Last week, Bonn offered Warsaw DM55m (Pounds 23m) to finance refugee camps. Attention will now turn to sub-regional initiatives, particularly bilateral talks with neighbouring Poland and the Czech Republic. Mr Rudolf Seiters, Ge rman interior minister, yesterday gave early March as the date for the next round of talks with Poland on financial aid in exchange for providing transi t for rejected asylum-seekers before repatriation. He also announced talks s oon in Prague on a multilateral approach to expelling illegal immigrants. Ed itorial Comment, Page 17 Countries:- XGZ Europe. Industries:- P9721 International Affairs. Types :- GOVT Government News. The Financial Times

London Page 2 ============= Transaction # 126 ============================================== Transaction #: 126 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:38:33 Selec. Rec. #: 5 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT931-9196 _AN-DBPBVAAXFT 9302 16 FT 16 FEB 93 / Germans call for aid in curbing illega l migrants By NICHOLAS DENTON BUDAPEST INTERIOR ministers from east and west Europe g athering in Budapest yesterday for a conference on migration were immediatel y pressed by Germany to help curb the influx of illegal immigrants. Germany is urging east European countries to take back nationals resident elsewhere without permission, and speed migrants' return to their country of origin. A lso high on the agenda is a proposal to co-ordinate action on international 'human smuggling' groups. The Germans want 'non-front-line' western countrie s to share the burden of financial aid towards strengthening eastern Europe' s immigration controls. The conference coincides with German efforts to tigh ten the country's liberal asylum rules. Germany's proposed constitutional am endment would allow authorities to turn back claimants for refugee status if they arrive from 'safe' neighbouring east European countries. Poland and th e Czech Republic are determined not to become a cordon sanitaire for seekers of asylum in Germany. Bonn's efforts have an added urgency because of conti nuing racist attacks against foreigners. But EC countries less affected by i mmigration from eastern Europe are grudging in their solidarity. UK official s said yesterday that, while backing recommendations on exchange of informat ion, they did not wish to see new measures, describing as unrealistic ideas about financial aid. Countries:- XJZ West Europe. XLZ East Europe. Industries:- P9721 International Af fairs. Types:- GOVT Government News. The Fi nancial Times London Page 3 ============= Transaction # 127 ============================================== Transaction #: 127 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:38:35 Selec. Rec. #: 5 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT931-9196 _AN-DBPBVAAXFT 9302 16 FT 16 FEB 93 / Germans call for aid in curbing illega l migrants By NICHOLAS DENTON BUDAPEST INTERIOR ministers from east and west Europe g athering in Budapest yesterday for a conference on migration were immediatel y pressed by Germany to help curb the influx of illegal immigrants. Germany is urging east European countries to take back nationals resident elsewhere without permission, and speed migrants' return to their country of origin. A lso high on the agenda is a proposal to co-ordinate action on international 'human smuggling' groups. The Germans want 'non-front-line' western countrie s to share the burden of financial aid towards strengthening eastern Europe' s immigration controls. The conference coincides with German efforts to tigh ten the country's liberal asylum rules. Germany's proposed constitutional am endment would allow authorities to turn back claimants for refugee status if they arrive from 'safe' neighbouring east European countries. Poland and th e Czech Republic are determined not to become a cordon sanitaire for seekers of asylum in Germany. Bonn's efforts have an added urgency because of conti nuing racist attacks against foreigners. But EC countries less affected by i mmigration from eastern Europe are grudging in their solidarity. UK official s said yesterday that, while backing recommendations on exchange of informat ion, they did not wish to see new measures, describing as unrealistic ideas about financial aid. Countries:- XJZ West Europe. XLZ East Europe. Industries:- P9721 International Af fairs. Types:- GOVT Government News. The Fi nancial Times London Page 3 ============= Transaction # 128 ============================================== Transaction #: 128 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:39:52 Selec. Rec. #: 7 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT943-3533 _AN-EINDHAAJFT 9409 14 FT 14 SEP 94 / 'Prostitute smugglers' arrested By ROBERT GRAHAM ROME Italian police yesterday said they had broken up a criminal organisat ion based in Bari capable of smuggling up to 5,000 illegal immigrants a mont h into the country via the coastline of the Puglia region, on the Adriatic c oast. This is the largest immigration ring uncovered and highlights the invo lvement of organised crime in this increasingly profitable business. More th an 20 people were arrested, including Italian nationals, Slavs and North Afr icans. In addition to being charged with bringing people illegally into Ital y, they were accused of organising prostitution and providing false document ation. The Italian authorities are showing increasing concern over the impor t of prostitutes. Prostitution has been one of the main activities unaffecte d by the two-year-long recession. But with the economy beginning to recover, the authorities are also anxious to cut-off a new flow of hopeful job seeke rs. The main problem is Albania. During the summer more than 200 Albanians a week are believed to have entered the country illegally via the Puglian coa st. Countries:- ITZ Italy, EC. Industries :- P9221 Police Protection. Types:- NEWS Gen eral News. The Financial Times London Page 2 ============= Transaction # 129 ============================================== Transaction #: 129 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:39:56 Selec. Rec. #: 7 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT943-3533 _AN-EINDHAAJFT 9409 14 FT 14 SEP 94 / 'Prostitute smugglers' arrested By ROBERT GRAHAM ROME Italian police yesterday said they had broken up a criminal organisat ion based in Bari capable of smuggling up to 5,000 illegal immigrants a mont h into the country via the coastline of the Puglia region, on the Adriatic c oast. This is the largest immigration ring uncovered and highlights the invo lvement of organised crime in this increasingly profitable business. More th an 20 people were arrested, including Italian nationals, Slavs and North Afr icans. In addition to being charged with bringing people illegally into Ital y, they were accused of organising prostitution and providing false document ation. The Italian authorities are showing increasing concern over the impor t of prostitutes. Prostitution has been one of the main activities unaffecte d by the two-year-long recession. But with the economy beginning to recover, the authorities are also anxious to cut-off a new flow of hopeful job seeke rs. The main problem is Albania. During the summer more than 200 Albanians a week are believed to have entered the country illegally via the Puglian coa st. Countries:- ITZ Italy, EC. Industries :- P9221 Police Protection. Types:- NEWS Gen eral News. The Financial Times London Page 2 ============= Transaction # 130 ============================================== Transaction #: 130 Transaction Code: 23 (Saved Recs. Viewed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:40:37 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 131 ============================================== Transaction #: 131 Transaction Code: 25 (Saved Recs. E-Mailed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:41:09 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: Subject: s1-t3 ---------- 1. DOCUMENT NO.: FT921-10331 . HEADLINE: FT 06 FEB 92 / Arts: Caesar and Cleopatra - Greenwich Thea tre . BYLINE: By CLAIRE ARMITSTEAD . PUBLICATION: The Financial T imes . PAGE: London Page 19 Photograph Alec McCowen and Amanda Root (Omitted). . TEXT: George Bernard Shaw wrote Caesar and Cleopatra for the actor Johnston Forbes-Robertson in 1898, aiming to illustrate throug h the character of Caesar his views about the common humanity of even the mo st exalted heroes, while chronicling a corner of Roman history that languish es in the shadow of Shakespeare's Antony and Cleopatra. His Caesar, finely r ealised by Alec McCowen, is a wry, kindly philistine, by his own admission ' part brute, part woman and part god', whose laurels conceal a balding head, and whose good nature hides a cunning - and finally ruthless - political bra in. We see him first apostrophising beside the monumental claw of a black ma rble sphinx, enchanted by the frightened young queen who finds him there. Ha ving convinced her that Romans do not in fact eat Egyptians, he proceeds to amuse himself by making an empress of her. With feet dangling six inches off the ground, Amanda Root's minxish Cleopatra settles into her throne, tearin g into her domineering governess (a sinister Sheila Ballantine), squabbling with her brother, while creating merry mayhem with the protocol of both Roma n and Egyptian courts. Matthew Francis's production gleefully captures the m ischief of these early scenes. The design (Julian McGowan), of ornate statua ry dotted around marble halls, is subverted by the frock-coats and laurels o f the Romans. Britannus, Shaw's send-up of the British character, is played by Michael Cronin with bowler hat and poker face, making the maximum comic m ileage out of the undignified dive into the waters of the Nile of the entire Roman court, carrying a protesting Egyptian queen who, minutes earlier, had smuggled herself over to Alexandria in a carpet. The fun and games of the f irst three acts are abruptly halted in a second half which changes gear into an essay on political methods. Cleopatra, cleverly transformed by Root into a rather charmless sophisticate, is now dangerously confident; Caesar, stil l making a show of being the genial Dutch uncle, is put on his mettle by the murder of the scheming Egyptian Pothinus, and the resulting uprising by his followers. In a superbly engineered scene of confrontation between morals a nd expediency, the ruthlessness is revealed of a colonialist whose 'hands-of f' liberalism is merely a strategy for allowing his minions to sort themselv es out. Having failed to prevent Cleopatra's henchwoman Ftatateeta from kill ing Pothinus, Caesar lets Rufius - the new governor of Egypt - murder her, b efore turning his back on the lot of them in a devastating display of politi cal indifference. Feigning the forgetfulness of an old man, he slights Cleop atra by neglecting to take proper leave of her; the unspoken insult is left frozen in the air between them. Judicious cutting and exemplary central perf ormances have excavated a chilling political parable from a rambling Shavian chronicle about a king and a kitten. . 2. DOCUMENT NO.: FT933-11804. HEA DLINE: FT 28 JUL 93 / US tightens immigration curbs . BYLINE: By GEORGE GRAHAM . PUBLICATION: The Financial Times . PAGE: Lond on Page 4 . TEXT: PRESIDENT Bill Clinton yesterday launched a progr amme to tighten US immigration controls and clamp down on smuggling rings th at bring foreigners into the country illegally. He asked Congress for Dollar s 172m to hire up to 600 more border patrol agents and boost efforts to stop immigrant-smugglers and intercept smuggling ships at sea. 'It's certainly p lain to anybody with eyes to see that the border patrol is drastically under staffed, breathtakingly understaffed,' Mr Clinton said. He also called for a process of 'expedited exclusion' which would allow officials to rule summar ily on asylum requests, instead of allowing asylum-seekers to stay for month s while their cases are judged. Anyone trying to smuggle in aliens would fac e anti-racketeering charges and doubled prison sentences. In recent months, there have been a series of attempts to land illegal immigrants by ship. The measures have also been prompted by doubts about the effectiveness of US co nsular officials in screening visa applicants for terrorist links. There is the recent case of Sheikh Omar Abdel Rahman, a militant Moslem preacher, sev eral of whose followers have been arrested in connection with the bombing of the World Trade Centre in New York. Sheikh Omar is in custody awaiting depo rtation proceedings, although he entered the US legally on a visa issued aft er a CIA review. Mr Clinton insisted the US was not seeking to close its doo rs to legal immigrants and would remain 'the world's greatest melting pot'. However, 'we must say no to illegal immigration so we can continue to say ye s to legal immigration,' he said. . 3. DOCUMENT NO.: FT932-5376. HEADLINE : FT 04 JUN 93 / China to act on illegal emigrants . BYLINE: By AP . PUBLICATION: The Financial Times . PAGE: London Page 4 . TEXT: THE US Coast Guard intercepted two boats trying to smuggle 27 0 Chinese into California yesterday, coinciding with a Chinese government st atement that it had stepped up efforts to halt illegal emigration, AP report s. 'The public security departments have stepped up efforts to track down th e criminal groups organising human smuggling and patrols at sea,' a Chinese Foreign Ministry spokesman said. Since January authorities on both sides of the Pacific have intercepted boats carrying about 2,500 Chinese, each of who m had paid or promised smugglers Dollars 20,000-Dollars 30,000 (Pounds 13,00 0-Pounds 19,500) to get them into the US illegally. Many others are entering overland from Mexico or arriving at airports with false documents. . 4. DOCUMENT NO.: FT932-2315. HEADLINE: FT 19 JUN 93 / Alien crackdown . B YLINE: By REUTER . PUBLICATION: The Financial Times . PAGE: London Page 2 . TEXT: President Bill Clinton yesterday named Do ris Meissner to be US immigration chief and unveiled a strategy to fight the 'shameful practice' of smuggling aliens into the US, Reuter reports. He sai d organised crime charged huge amounts to transport immigrants to slave-like work in the US. . 5. DOCUMENT NO.: FT931-8991. HEADLINE: FT 17 FEB 93 / Immigrants crackdown agreed . BYLINE: By NICHOLAS DENTON . D ATELINE: BUDAPEST . PUBLICATION: The Financial Times . PAGE: London Page 2 . TEXT: INTERIOR ministers from 35 European countr ies yesterday agreed to crack down on the wave of illegal immigration from e ast to west which is fuelling anti-foreigner violence in Germany and elsewhe re. The ministers said organised smuggling of illegal immigrants would be ma de a criminal offence across Europe. They also agreed that airlines, as well as land and sea carriers, should be liable to fines under new rules on the movement of illegal aliens. The conference of ministers from east and wester n Europe follows pressure for co-ordinated efforts to reduce an increasing f low of illegal immigration that ministers say has fuelled xenophobia and bee n exploited by organised crime. The ministers agreed to set up special polic e units and mobile surveillance forces to a standard model. The governments also agreed to exchange information and adopt a common code on border checks . But ministers from several countries including Britain, balked at the Germ an demand for a common code on repatriation and on sharing the financial bur dens of combating illegal immigration. The outcome of the meeting yesterday displayed the limits of pan-European co-operation on paying for immigration. Interests diverge: Germany, Austria, Switzerland and Sweden have borne the brunt of the influx from eastern Europe and are pushing for action, while th eir neighbours to the west are more concerned about migrants from other cont inents. Germany sought yesterday to allay the fears of Poland and the Czech Republic that they would become part of a 'refugee zone' if Germany turned b ack more asylum seekers. Last week, Bonn offered Warsaw DM55m (Pounds 23m) t o finance refugee camps. Attention will now turn to sub-regional initiatives , particularly bilateral talks with neighbouring Poland and the Czech Republ ic. Mr Rudolf Seiters, German interior minister, yesterday gave early March as the date for the next round of talks with Poland on financial aid in exch ange for providing transit for rejected asylum-seekers before repatriation. He also announced talks soon in Prague on a multilateral approach to expelli ng illegal immigrants. Editorial Comment, Page 17 . 6. DOCUMENT NO.: FT93 1-9196. HEADLINE: FT 16 FEB 93 / Germans call for aid in curbing illeg al migrants . BYLINE: By NICHOLAS DENTON . DATELINE: BUDAP EST . PUBLICATION: The Financial Times . PAGE: London Page 3 . TEX T: INTERIOR ministers from east and west Europe gathering in Budape st yesterday for a conference on migration were immediately pressed by Germa ny to help curb the influx of illegal immigrants. Germany is urging east Eur opean countries to take back nationals resident elsewhere without permission , and speed migrants' return to their country of origin. Also high on the ag enda is a proposal to co-ordinate action on international 'human smuggling' groups. The Germans want 'non-front-line' western countries to share the bur den of financial aid towards strengthening eastern Europe's immigration cont rols. The conference coincides with German efforts to tighten the country's liberal asylum rules. Germany's proposed constitutional amendment would allo w authorities to turn back claimants for refugee status if they arrive from 'safe' neighbouring east European countries. Poland and the Czech Republic a re determined not to become a cordon sanitaire for seekers of asylum in Germ any. Bonn's efforts have an added urgency because of continuing racist attac ks against foreigners. But EC countries less affected by immigration from ea stern Europe are grudging in their solidarity. UK officials said yesterday t hat, while backing recommendations on exchange of information, they did not wish to see new measures, describing as unrealistic ideas about financial ai d. . 7. DOCUMENT NO.: FT943-3533. HEADLINE: FT 14 SEP 94 / 'Prostit ute smugglers' arrested . BYLINE: By ROBERT GRAHAM . DATELINE: ROME . PUBLICATION: The Financial Times . PAGE: London Page 2 . TEXT: Italian police yesterday said they had broken up a crimina l organisation based in Bari capable of smuggling up to 5,000 illegal immigr ants a month into the country via the coastline of the Puglia region, on the Adriatic coast. This is the largest immigration ring uncovered and highligh ts the involvement of organised crime in this increasingly profitable busine ss. More than 20 people were arrested, including Italian nationals, Slavs an d North Africans. In addition to being charged with bringing people illegall y into Italy, they were accused of organising prostitution and providing fal se documentation. The Italian authorities are showing increasing concern ove r the import of prostitutes. Prostitution has been one of the main activitie s unaffected by the two-year-long recession. But with the economy beginning to recover, the authorities are also anxious to cut-off a new flow of hopefu l job seekers. The main problem is Albania. During the summer more than 200 Albanians a week are believed to have entered the country illegally via the Puglian coast. . ============= Transaction # 132 ============================================== Transaction #: 132 Transaction Code: 27 (Saved Recs. Win. Exited) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:42:02 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 133 ============================================== Transaction #: 133 Transaction Code: 23 (Saved Recs. Viewed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:42:17 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 134 ============================================== Transaction #: 134 Transaction Code: 26 (Saved Recs. Cleared) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:42:23 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: ============= Transaction # 135 ============================================== Transaction #: 135 Transaction Code: 6 (Direct Rank Search) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 13:43:44 Rec. Format: Long Time Cmd Complete: 16:00:00 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 5 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {chunnel chunnel chunnel economy impact})" ============= Transaction # 136 ============================================== Transaction #: 136 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:43:51 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 32486 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 137 ============================================== Transaction #: 137 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:45:14 Selec. Rec. #: 2 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT934-11803 _AN-DJ2DCADUFT 931 029 FT 29 OCT 93 / Leading Article: Chunnel link THE PLANNED high-speed rail link between London and the Channel tunnel could be a showpiece for the UK government's initiative of attracting private capital to public infrastructure projects. It provides an opportuni ty both to harness the private sector's skills in project management and to remove at least part of a Pounds 2.6bn-Pounds 3bn project from the public se ctor's balance sheet. But to achieve these benefits, the Treasury will need to abandon its purist line that all the risk of such projects should be born e by private investors. Sticking to this line could delay or even kill off t he project, as Union Railways, the British Rail subsidiary set up to develop the link, will tell ministers later today. The essential point is that the private sector is not well suited to bear the political and regulatory risks associated with the early stages of large infrastructure projects. Before c onstruction on the Chunnel link can proceed, planning consents must be won, public inquiries conducted, legislation passed and safety standards determin ed. At each stage, there is a danger that the project will be delayed and ex tra costs imposed. This particular project does not start with a happy histo ry as far as private companies are concerned. Several construction groups ha ve already spent money making proposals, only to have them rejected largely for political reasons. There is also the overhang from the main Channel tunn el project, whose financial attraction has been reduced by a tightening of s afety regulations and the delay in building road and rail links. It is doubt ful whether private funds could be attracted at this stage and, even if they could, a high risk premium would be required. Far better, therefore, for th e public sector to put up the Pounds 200m needed for the project's next phas e, tiding it over until political and regulatory uncertainty is largely out of the way. After that, it should be easier to find a further Pounds 2.5bn-p lus from private investors. The remaining risks -concerning construction co sts, operating expenses and customer demand - are the type the private secto r is best at managing. Given the current budgetary pressures, it is reasonab le to ask why the Chunnel link should have priority over other worthwhile pr ojects that are now stalled. Part of the answer is that the link is already badly delayed. Constructing it is important not only to maximise the economi c benefits of the Channel tunnel but also to ease congestion for commuter tr affic in the south-east. But the most compelling reason for priming the pump is that a success with Union Railways would give a boost to the government' s private funding initiative. It could open the door for private capital to flow into roads, railways and prisons. That, more than almost anything else, would ease the pressure on government finances. Countries:- GBZ United Kingdom, EC. Industries:- P1629 Hea vy Construction, NEC. Types:- CMMT Comment & Analysis. The Financial Times London Page 17 ============= Transaction # 138 ============================================== Transaction #: 138 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:45:18 Selec. Rec. #: 2 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT934-11803 _AN-DJ2DCADUFT 931 029 FT 29 OCT 93 / Leading Article: Chunnel link THE PLANNED high-speed rail link between London and the Channel tunnel could be a showpiece for the UK government's initiative of attracting private capital to public infrastructure projects. It provides an opportuni ty both to harness the private sector's skills in project management and to remove at least part of a Pounds 2.6bn-Pounds 3bn project from the public se ctor's balance sheet. But to achieve these benefits, the Treasury will need to abandon its purist line that all the risk of such projects should be born e by private investors. Sticking to this line could delay or even kill off t he project, as Union Railways, the British Rail subsidiary set up to develop the link, will tell ministers later today. The essential point is that the private sector is not well suited to bear the political and regulatory risks associated with the early stages of large infrastructure projects. Before c onstruction on the Chunnel link can proceed, planning consents must be won, public inquiries conducted, legislation passed and safety standards determin ed. At each stage, there is a danger that the project will be delayed and ex tra costs imposed. This particular project does not start with a happy histo ry as far as private companies are concerned. Several construction groups ha ve already spent money making proposals, only to have them rejected largely for political reasons. There is also the overhang from the main Channel tunn el project, whose financial attraction has been reduced by a tightening of s afety regulations and the delay in building road and rail links. It is doubt ful whether private funds could be attracted at this stage and, even if they could, a high risk premium would be required. Far better, therefore, for th e public sector to put up the Pounds 200m needed for the project's next phas e, tiding it over until political and regulatory uncertainty is largely out of the way. After that, it should be easier to find a further Pounds 2.5bn-p lus from private investors. The remaining risks -concerning construction co sts, operating expenses and customer demand - are the type the private secto r is best at managing. Given the current budgetary pressures, it is reasonab le to ask why the Chunnel link should have priority over other worthwhile pr ojects that are now stalled. Part of the answer is that the link is already badly delayed. Constructing it is important not only to maximise the economi c benefits of the Channel tunnel but also to ease congestion for commuter tr affic in the south-east. But the most compelling reason for priming the pump is that a success with Union Railways would give a boost to the government' s private funding initiative. It could open the door for private capital to flow into roads, railways and prisons. That, more than almost anything else, would ease the pressure on government finances. Countries:- GBZ United Kingdom, EC. Industries:- P1629 Hea vy Construction, NEC. Types:- CMMT Comment & Analysis. The Financial Times London Page 17 ============= Transaction # 139 ============================================== Transaction #: 139 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:45:57 Selec. Rec. #: 3 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT942-12999 _AN-ED0DLADCFT 940 427 FT 27 APR 94 / Letters to the Editor: Fly the Chunne l instead From JEAN CASTELLINI Sir, I very much enjoyed your 'Business Travel' (April 20), especially the secti on on various 'airports of the world'. However, I have to say that Ms Rawsth orn's report on Charles de Gaulle airport was typical of a certain Anglo Sax on arrogant wit (whereas your other airport descriptions struck me as being quite neutral), as well as a collection of all possible cliches you may gath er on France - the foie gras, the expensive clothes, the Concorde-travelling top models, le 'glamour', quoi] I must have flown into, and out of, Roissy a good 100 times over the past 10 years, and have never had to complain abou t my luggage being 'pillaged', not even opened. As far as our 'sticky-finger ed luggage handlers' are concerned, they, too, probably would be happy to we ar Chanel gloves to handle Ms Rawsthorn's personal belongings. Much to many people's surprise, France has less 'numerous national holidays' than many ot her European countries (I have to admit, however, that the point on public s ector strikes was more relevant). And I honestly have to say that I have nev er had 'to wait - and wait' for a bus at the RER station, whereas I have bee n stuck at Acton Town for half an hour (at least) because of a signal defect on a quite regular basis . . . What Ms Rawsthorn needs, and must be eagerly awaiting, is the Chunnel. She will be able to shop until she drops in downt own Paris, and then not have to worry about struggling all the way to Charle s de Gaulle. And then enjoy frequent unexplained stops in the beautiful Engl ish countryside on her train journey back to London. Bon voyage] Jean Castel lini, 1, rue Humblot, 75015 Paris, France Countries:- FRZ France, EC. Industries:- P4581 Airports, Flying F ields, and Services. Types:- NEWS General News. The Financial Times London Page 22 ============= Transaction # 140 ============================================== Transaction #: 140 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:46:01 Selec. Rec. #: 3 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT942-12999 _AN-ED0DLADCFT 940 427 FT 27 APR 94 / Letters to the Editor: Fly the Chunne l instead From JEAN CASTELLINI Sir, I very much enjoyed your 'Business Travel' (April 20), especially the secti on on various 'airports of the world'. However, I have to say that Ms Rawsth orn's report on Charles de Gaulle airport was typical of a certain Anglo Sax on arrogant wit (whereas your other airport descriptions struck me as being quite neutral), as well as a collection of all possible cliches you may gath er on France - the foie gras, the expensive clothes, the Concorde-travelling top models, le 'glamour', quoi] I must have flown into, and out of, Roissy a good 100 times over the past 10 years, and have never had to complain abou t my luggage being 'pillaged', not even opened. As far as our 'sticky-finger ed luggage handlers' are concerned, they, too, probably would be happy to we ar Chanel gloves to handle Ms Rawsthorn's personal belongings. Much to many people's surprise, France has less 'numerous national holidays' than many ot her European countries (I have to admit, however, that the point on public s ector strikes was more relevant). And I honestly have to say that I have nev er had 'to wait - and wait' for a bus at the RER station, whereas I have bee n stuck at Acton Town for half an hour (at least) because of a signal defect on a quite regular basis . . . What Ms Rawsthorn needs, and must be eagerly awaiting, is the Chunnel. She will be able to shop until she drops in downt own Paris, and then not have to worry about struggling all the way to Charle s de Gaulle. And then enjoy frequent unexplained stops in the beautiful Engl ish countryside on her train journey back to London. Bon voyage] Jean Castel lini, 1, rue Humblot, 75015 Paris, France Countries:- FRZ France, EC. Industries:- P4581 Airports, Flying F ields, and Services. Types:- NEWS General News. The Financial Times London Page 22 ============= Transaction # 141 ============================================== Transaction #: 141 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:48:56 Selec. Rec. #: 12 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT934-2741 _AN-DLLALAFAFT 9312 11 FT 11 DEC 93 / Motoring: What will the Chunnel offer? - Stuart Marshall casts a sceptical English eye on the benefits of undersea travel By STUART MARSHALL Like mil lions of people living in the south-east of England - and particularly in my own county of Kent - I have never been a Channel Tunnel enthusiast. This is not because the high-speed rail link, should it ever be built, would go any where near my home. Put my feelings down to being an old-fashioned reactiona ry. I liked Britain being a proper island and I have always seen the Channel crossing by ferry as pleasure, not penance. I doubt I was alone in hoping t hat if I ignored the Chunnel, it just might go away. But new bridges began a ppearing across the M20 as it neared Folkestone, while a forest of gantries and overhead wires went up behind high concrete retaining walls. Work trains could sometimes be glimpsed. When the first advertisements appeared for the Chunnel car ferry, which starts running next May, I thought it was time I h ad a look. It was a revelation. What has been built, unseen by M20 users, is something as big as an airport terminal. But instead of acres of runways, t here is a marshalling yard and rail tracks running into a tunnel. The operat ing company, Eurotunnel, says people still have many misconceptions. Many th ink they will be able to drive their cars through to France; and while most do realise it is rail only, some believe their cars will go on flat trucks, as on car-carrier trains, while they ride in passenger carriages. Wrong agai n. You stay with your car in a windowless van. You can walk around it if you wish, but the only place to visit is the lavatory in every third interconne cted coach. When, in five months, the tunnel starts competing with the car f erries, this is what will happen. Motorists will leave the M20 by the Eurotu nnel slip road, pause at a toll booth to pay for their passage, and then hav e a choice. Those in a hurry can pass through Customs and drive straight on to the train. Others can go to the terminal building for refreshments and du ty-frees. Tickets can be bought from travel agents in advance but there are no reservations; all-comers get in line for the next train. At peak times, t here will be one every 15 minutes; but if you just miss one at, say, 2am, yo u could have to wait an hour or so. Platform to platform, the under-Channel train will take 35 minutes. Eurotunnel says that, during the day, a motorist should be able to drive out of the French terminal at Sangatte, near Calais , and on to the A26 autoroute within one hour of coming off the M20. There w ill be separate ferry trains for cars and commercial vehicles. Main line pas senger and freight trains will also use the tunnel but, apart from sharing t he tracks, have nothing whatever to do with the car ferry trains. Fares have not been fixed but, to compete, they must be about the same as those on the ships. Every safety and security precaution known to man has been taken. Us ing Eurotunnel should be rather less risky than riding in a clapped-out Lond on Underground train. Will it kill off the Dover-Calais ferries? Of course n ot, although it will take a chunk of the available (and constantly growing) business of transporting cars and lorries to and from mainland Europe. If th e tunnel's freight trains reduce the number of juggernaut lorries now poundi ng our motorways to pieces, every motorist will cheer. I have two reservatio ns about Eurotunnel (which, beyond any argument, is a wonder of 20th century civil engineering of which Britain and France can be proud). While I do not exactly relish the thought of an underground - and, even more so, undersea - journey of more than 30 miles (50 km), I shall certainly try it. But the i dea fills many people with such undiluted horror that they say there is no w ay they will ever make the trip. A more logical objection is that the time s aving could be an illusion. The train might take 35 minutes, platform to pla tform, against the ferry's 75 minutes, dock to dock. But you can eat, stretc h your legs and shop during the sea crossing. A family driving from, say, Bi rmingham to Paris would have to stop for a meal before or after the tunnel c rossing - so what has happened to the time saving? Many cross-Channel travel lers, very sensibly, use the ferry as a mobile motorway service area. So, wi th an eye on the Chunnel's opening, P & 0 and Stena Sealink have upgraded th eir fleets. The ships are now more like cruise liners than ferries in size a nd facilities. They are so stable that even a gale does not disturb their eq uilibrium - or, more important, that of their passengers. For an extra Pound s 5 on each leg, P & O club class is a truly civilised way of crossing the C hannel. When heading west to Normandy and Brittany, I like using the longer routes such as Newhaven to Dieppe; Portsmouth or Southampton to Le Havre, Ch erbourg or St Malo. Longer crossings are not always reflected in higher fare s; a four-hour Newhaven-Dieppe voyage can be cheaper than Dover-Calais. Alth ough the ships on these routes are not as large as the short-haul super-ferr ies, their facilities are comparable, if on a smaller scale. My wife and I h ave passed less comfortable nights in hotels than we did recently between Po rtsmouth and St Malo on Brittany Ferries' 23,000-ton Bretagne. It has every facility to make the eight-hour crossing pleasant; even a hairdressing salon . In Britain, Suzuki is synonymous with small four-wheel drives, and its Swi ft front-wheel drive hatchback gets overlooked. It deserves better. I though t the Swift GLX 1.3 automatic five-door, which I used as a runabout recently , would suit many buyers whose motoring is mainly in town and who rate ease of control above all else. The four-cylinder, multi-valve engine and three-s peed automatic gearbox are well matched. Power steering is finger-light; cen tral locking and a tilt-adjustable steering wheel are standard; and the high -roofed body is agreeably roomy, with good all-round vision. The ride can be bouncy on bad roads, and luggage has to be lifted over a high sill. But, bu t at Pounds 9,125, the two-pedal Swift is cheaper than any power-steered riv al. Countries:- GBZ United Kingdom, EC. FRZ Fra nce, EC. Industries:- P4785 Inspection and Fixed Facili ties. P3711 Motor Vehicles and Car Bodies. Types:- TECH Products & Product use. NEWS General News. The Financi al Times London Page XVI ============= Transaction # 142 ============================================== Transaction #: 142 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:48:58 Selec. Rec. #: 12 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT934-2741 _AN-DLLALAFAFT 9312 11 FT 11 DEC 93 / Motoring: What will the Chunnel offer? - Stuart Marshall casts a sceptical English eye on the benefits of undersea travel By STUART MARSHALL Like mil lions of people living in the south-east of England - and particularly in my own county of Kent - I have never been a Channel Tunnel enthusiast. This is not because the high-speed rail link, should it ever be built, would go any where near my home. Put my feelings down to being an old-fashioned reactiona ry. I liked Britain being a proper island and I have always seen the Channel crossing by ferry as pleasure, not penance. I doubt I was alone in hoping t hat if I ignored the Chunnel, it just might go away. But new bridges began a ppearing across the M20 as it neared Folkestone, while a forest of gantries and overhead wires went up behind high concrete retaining walls. Work trains could sometimes be glimpsed. When the first advertisements appeared for the Chunnel car ferry, which starts running next May, I thought it was time I h ad a look. It was a revelation. What has been built, unseen by M20 users, is something as big as an airport terminal. But instead of acres of runways, t here is a marshalling yard and rail tracks running into a tunnel. The operat ing company, Eurotunnel, says people still have many misconceptions. Many th ink they will be able to drive their cars through to France; and while most do realise it is rail only, some believe their cars will go on flat trucks, as on car-carrier trains, while they ride in passenger carriages. Wrong agai n. You stay with your car in a windowless van. You can walk around it if you wish, but the only place to visit is the lavatory in every third interconne cted coach. When, in five months, the tunnel starts competing with the car f erries, this is what will happen. Motorists will leave the M20 by the Eurotu nnel slip road, pause at a toll booth to pay for their passage, and then hav e a choice. Those in a hurry can pass through Customs and drive straight on to the train. Others can go to the terminal building for refreshments and du ty-frees. Tickets can be bought from travel agents in advance but there are no reservations; all-comers get in line for the next train. At peak times, t here will be one every 15 minutes; but if you just miss one at, say, 2am, yo u could have to wait an hour or so. Platform to platform, the under-Channel train will take 35 minutes. Eurotunnel says that, during the day, a motorist should be able to drive out of the French terminal at Sangatte, near Calais , and on to the A26 autoroute within one hour of coming off the M20. There w ill be separate ferry trains for cars and commercial vehicles. Main line pas senger and freight trains will also use the tunnel but, apart from sharing t he tracks, have nothing whatever to do with the car ferry trains. Fares have not been fixed but, to compete, they must be about the same as those on the ships. Every safety and security precaution known to man has been taken. Us ing Eurotunnel should be rather less risky than riding in a clapped-out Lond on Underground train. Will it kill off the Dover-Calais ferries? Of course n ot, although it will take a chunk of the available (and constantly growing) business of transporting cars and lorries to and from mainland Europe. If th e tunnel's freight trains reduce the number of juggernaut lorries now poundi ng our motorways to pieces, every motorist will cheer. I have two reservatio ns about Eurotunnel (which, beyond any argument, is a wonder of 20th century civil engineering of which Britain and France can be proud). While I do not exactly relish the thought of an underground - and, even more so, undersea - journey of more than 30 miles (50 km), I shall certainly try it. But the i dea fills many people with such undiluted horror that they say there is no w ay they will ever make the trip. A more logical objection is that the time s aving could be an illusion. The train might take 35 minutes, platform to pla tform, against the ferry's 75 minutes, dock to dock. But you can eat, stretc h your legs and shop during the sea crossing. A family driving from, say, Bi rmingham to Paris would have to stop for a meal before or after the tunnel c rossing - so what has happened to the time saving? Many cross-Channel travel lers, very sensibly, use the ferry as a mobile motorway service area. So, wi th an eye on the Chunnel's opening, P & 0 and Stena Sealink have upgraded th eir fleets. The ships are now more like cruise liners than ferries in size a nd facilities. They are so stable that even a gale does not disturb their eq uilibrium - or, more important, that of their passengers. For an extra Pound s 5 on each leg, P & O club class is a truly civilised way of crossing the C hannel. When heading west to Normandy and Brittany, I like using the longer routes such as Newhaven to Dieppe; Portsmouth or Southampton to Le Havre, Ch erbourg or St Malo. Longer crossings are not always reflected in higher fare s; a four-hour Newhaven-Dieppe voyage can be cheaper than Dover-Calais. Alth ough the ships on these routes are not as large as the short-haul super-ferr ies, their facilities are comparable, if on a smaller scale. My wife and I h ave passed less comfortable nights in hotels than we did recently between Po rtsmouth and St Malo on Brittany Ferries' 23,000-ton Bretagne. It has every facility to make the eight-hour crossing pleasant; even a hairdressing salon . In Britain, Suzuki is synonymous with small four-wheel drives, and its Swi ft front-wheel drive hatchback gets overlooked. It deserves better. I though t the Swift GLX 1.3 automatic five-door, which I used as a runabout recently , would suit many buyers whose motoring is mainly in town and who rate ease of control above all else. The four-cylinder, multi-valve engine and three-s peed automatic gearbox are well matched. Power steering is finger-light; cen tral locking and a tilt-adjustable steering wheel are standard; and the high -roofed body is agreeably roomy, with good all-round vision. The ride can be bouncy on bad roads, and luggage has to be lifted over a high sill. But, bu t at Pounds 9,125, the two-pedal Swift is cheaper than any power-steered riv al. Countries:- GBZ United Kingdom, EC. FRZ Fra nce, EC. Industries:- P4785 Inspection and Fixed Facili ties. P3711 Motor Vehicles and Car Bodies. Types:- TECH Products & Product use. NEWS General News. The Financi al Times London Page XVI ============= Transaction # 143 ============================================== Transaction #: 143 Transaction Code: 14 (Search Results Displayed) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:49:09 Selec. Rec. #: 0 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 32486 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 144 ============================================== Transaction #: 144 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:49:29 Selec. Rec. #: 13 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-14451 _AN-EJWA8AD7FT 941 022 FT 22 OCT 94 / Finance and the Family: Chunnel diary Sept 1 1986: Consortium partners subscribe Pounds 46m of equity for project. Oct 29: Eurotunnel raises further Pounds 206m equity th rough private placement with institutions. Nov 4 1987: Company reaches agree ment for banks to provide Pounds 5bn. Nov 27: Public listing completed, rais ing additional Pounds 770m equity. Dec 1: Tunnelling starts. Oct 25 1990: Eu rotunnel signs agreements for further Pounds 1.8bn of bank credit. Dec 3 199 0: Company completes Pounds 566m rights issue. Feb 10 1992: Target opening d ate of June 1993 is postponed. Dec 10 1993: Contractors hand over tunnel. De c 29: Eurotunnel drops claims against UK and French governments in return fo r 10-year extension of its concession. May 6 1994: Inauguration of tunnel by the Queen and French President Francois Mitterrand. Freight shuttle service s start later in month. May 26: Eurotunnel launches third rights issue to ra ise Pounds 858m and completes raising of Pounds 693m of bank loans. Oct 3: S tart of limited passenger shuttle. Oct 17: Eurotunnel reveals it will achiev e only a quarter of the expected 1994 passenger revenues. Nov 14: Start of E urostar service between London, Paris and Brussels. Nov 15: Start of turn-up -and-go passenger shuttle. Companies:- Eurotunnel. Countries:- GBZ United Kingdom, EC. FRZ France, EC. Industries:- P4011 Railroads, Line-Haul Operating. Types:- CMMT Comment & Analysis. The Financial Times London Page V ============= Transaction # 145 ============================================== Transaction #: 145 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:49:35 Selec. Rec. #: 13 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT944-14451 _AN-EJWA8AD7FT 941 022 FT 22 OCT 94 / Finance and the Family: Chunnel diary Sept 1 1986: Consortium partners subscribe Pounds 46m of equity for project. Oct 29: Eurotunnel raises further Pounds 206m equity th rough private placement with institutions. Nov 4 1987: Company reaches agree ment for banks to provide Pounds 5bn. Nov 27: Public listing completed, rais ing additional Pounds 770m equity. Dec 1: Tunnelling starts. Oct 25 1990: Eu rotunnel signs agreements for further Pounds 1.8bn of bank credit. Dec 3 199 0: Company completes Pounds 566m rights issue. Feb 10 1992: Target opening d ate of June 1993 is postponed. Dec 10 1993: Contractors hand over tunnel. De c 29: Eurotunnel drops claims against UK and French governments in return fo r 10-year extension of its concession. May 6 1994: Inauguration of tunnel by the Queen and French President Francois Mitterrand. Freight shuttle service s start later in month. May 26: Eurotunnel launches third rights issue to ra ise Pounds 858m and completes raising of Pounds 693m of bank loans. Oct 3: S tart of limited passenger shuttle. Oct 17: Eurotunnel reveals it will achiev e only a quarter of the expected 1994 passenger revenues. Nov 14: Start of E urostar service between London, Paris and Brussels. Nov 15: Start of turn-up -and-go passenger shuttle. Companies:- Eurotunnel. Countries:- GBZ United Kingdom, EC. FRZ France, EC. Industries:- P4011 Railroads, Line-Haul Operating. Types:- CMMT Comment & Analysis. The Financial Times London Page V ============= Transaction # 146 ============================================== Transaction #: 146 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:49:53 Selec. Rec. #: 14 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT941-15354 _AN-EAPAGABTFT 940 115 FT 15 JAN 94 / Letters to the Editor: Competition no t working in cross-Channel fares From Mr K D SHILLET O Sir, Charles Batchelor's report ('Tunnel prompts Stena to simplify ferry fares', January 5) on the 'simplification' of Stena Line cro ss-Channel fares appears to indicate another huge rise in some tariffs, part icularly for a car with driver only or even with single passenger. For these travellers the increase, particularly during the summer months, will repres ent a much greater rise than the 'couple of per cent' vaguely indicated by t he operators. This is typical of the arrogant and rapacious attitude of the ferry companies towards travellers since announcement of the construction of the Channel tunnel. One is persuaded that they have deliberately raised the ir almost identical fares way beyond inflation almost every year, confident that the eventual Chunnel tariffs could not compete with them if necessary c ash flow to service mounting debt was to be raised. They have now set a comf ortable 'floor' for the tunnel while castly increasing their own profit pote ntial. There is a smell of collusion about this cost-push manoeuvre which in volves not only the ferry operators but the tunnel management as well. Dr St efan Szymanski of Imperial College has written a paper, already referred to in your newspaper, that clearly indicates progressive and unwarrantable rais ing of ferry tariffs since the announcement of the tunnel's construction. It is to be hoped that the Office of Fair Trading and the EU competition offic e are closely monitoring this pocket-picking of the public. Cross-Channel fe rry tariffs have been set far above any comparative journey in Europe for as long as I can remember. Why should the advent of an additional alternative send up passenger costs even further? That is not competition or the working of a 'market'. K D Shilleto, 2 Mulberry close, Beaufort Street, London SW3 Countries:- GBZ United Kingdom, EC. Indus tries:- P4482 Ferries. P4785 Inspection and Fixed Facilities. Types:- MKTS Market shares. COSTS Service costs & Service prices. The Financial Times London Page 7 ============= Transaction # 147 ============================================== Transaction #: 147 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:49:56 Selec. Rec. #: 14 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT941-15354 _AN-EAPAGABTFT 940 115 FT 15 JAN 94 / Letters to the Editor: Competition no t working in cross-Channel fares From Mr K D SHILLET O Sir, Charles Batchelor's report ('Tunnel prompts Stena to simplify ferry fares', January 5) on the 'simplification' of Stena Line cro ss-Channel fares appears to indicate another huge rise in some tariffs, part icularly for a car with driver only or even with single passenger. For these travellers the increase, particularly during the summer months, will repres ent a much greater rise than the 'couple of per cent' vaguely indicated by t he operators. This is typical of the arrogant and rapacious attitude of the ferry companies towards travellers since announcement of the construction of the Channel tunnel. One is persuaded that they have deliberately raised the ir almost identical fares way beyond inflation almost every year, confident that the eventual Chunnel tariffs could not compete with them if necessary c ash flow to service mounting debt was to be raised. They have now set a comf ortable 'floor' for the tunnel while castly increasing their own profit pote ntial. There is a smell of collusion about this cost-push manoeuvre which in volves not only the ferry operators but the tunnel management as well. Dr St efan Szymanski of Imperial College has written a paper, already referred to in your newspaper, that clearly indicates progressive and unwarrantable rais ing of ferry tariffs since the announcement of the tunnel's construction. It is to be hoped that the Office of Fair Trading and the EU competition offic e are closely monitoring this pocket-picking of the public. Cross-Channel fe rry tariffs have been set far above any comparative journey in Europe for as long as I can remember. Why should the advent of an additional alternative send up passenger costs even further? That is not competition or the working of a 'market'. K D Shilleto, 2 Mulberry close, Beaufort Street, London SW3 Countries:- GBZ United Kingdom, EC. Indus tries:- P4482 Ferries. P4785 Inspection and Fixed Facilities. Types:- MKTS Market shares. COSTS Service costs & Service prices. The Financial Times London Page 7 ============= Transaction # 148 ============================================== Transaction #: 148 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:50:15 Selec. Rec. #: 15 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT942-15131 _AN-EDQALADPFT 940 416 FT 16 APR 94 / The Week Ahead: Chunnel's misplaced o ptimism The numbers Eurotunnel will unveil for 1993 on Th ursday will be largely academic but it must have hoped it could announce rev enues from the first few months of operations. A full freight and passenger service will not now be running before September/October, a delay which is c osting Eurotunnel tens of millions of pounds a month. Projected revenues of Pounds 224m for this year now look hopelessly over-optimistic. But if the pa st year has disappointed in this regard, at least considerable progress has been made towards resolving the many disputes which have affected the projec t. Morgan Crucible, the speciality materials group, is forecast on Monday to report full-year. pre-tax profits up from Pounds 61.3m to between Pounds 63 m and Pounds 65m. The thermal ceramics business will have suffered badly fro m the recession in continental Europe but the group figures will be boosted by currency movements, recovery in the US, and growth in East Asia. On Thurs day, SmithKline Beecham reports results for its first quarter - which might also be the best quarter of the year as the US patent on ulcer drug Tagamet expires next month. First quarter pre-tax profits should be Pounds 347m, up 13 per cent on last time. This month's income tax increases are expected to dominate the results of the raft of small retailers - such as Etam, Bentalls , Austin Reed, Tie Rack and Liberty - which are reporting next week. But it might still be a bit too early to get any meaningful indications from the pr esent trading statements. Most company observers will be waiting for Sears' results on April 26. Etam, the fashion clothing company, will be the most cl osely examined of those reporting. It is expected to show a 33 per cent pre- tax profits advance to about Pounds 14.5m, excluding property losses. Companies:- Eurotunnel. Morgan Crucible. SmithKline Beecham. Etam. Bentalls. Austin Reed. Tie Rack. Libert y. Countries:- GBZ United Kingdom, EC. FRZ France , EC. USZ United States of America. Industries:- P 4785 Inspection and Fixed Facilities. P3255 Clay Refractories. P2834 Pharmaceutical Preparations. P5621 Women's Clothing Stores. P5611 M en's and Boys' Clothing Stores. P5311 Department Stores. P5699 Misce llaneous Apparel and Accessory Stores. Types:- CMMT Co mment & Analysis. The Financial Times London Page I V ============= Transaction # 149 ============================================== Transaction #: 149 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:50:19 Selec. Rec. #: 15 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT942-15131 _AN-EDQALADPFT 940 416 FT 16 APR 94 / The Week Ahead: Chunnel's misplaced o ptimism The numbers Eurotunnel will unveil for 1993 on Th ursday will be largely academic but it must have hoped it could announce rev enues from the first few months of operations. A full freight and passenger service will not now be running before September/October, a delay which is c osting Eurotunnel tens of millions of pounds a month. Projected revenues of Pounds 224m for this year now look hopelessly over-optimistic. But if the pa st year has disappointed in this regard, at least considerable progress has been made towards resolving the many disputes which have affected the projec t. Morgan Crucible, the speciality materials group, is forecast on Monday to report full-year. pre-tax profits up from Pounds 61.3m to between Pounds 63 m and Pounds 65m. The thermal ceramics business will have suffered badly fro m the recession in continental Europe but the group figures will be boosted by currency movements, recovery in the US, and growth in East Asia. On Thurs day, SmithKline Beecham reports results for its first quarter - which might also be the best quarter of the year as the US patent on ulcer drug Tagamet expires next month. First quarter pre-tax profits should be Pounds 347m, up 13 per cent on last time. This month's income tax increases are expected to dominate the results of the raft of small retailers - such as Etam, Bentalls , Austin Reed, Tie Rack and Liberty - which are reporting next week. But it might still be a bit too early to get any meaningful indications from the pr esent trading statements. Most company observers will be waiting for Sears' results on April 26. Etam, the fashion clothing company, will be the most cl osely examined of those reporting. It is expected to show a 33 per cent pre- tax profits advance to about Pounds 14.5m, excluding property losses. Companies:- Eurotunnel. Morgan Crucible. SmithKline Beecham. Etam. Bentalls. Austin Reed. Tie Rack. Libert y. Countries:- GBZ United Kingdom, EC. FRZ France , EC. USZ United States of America. Industries:- P 4785 Inspection and Fixed Facilities. P3255 Clay Refractories. P2834 Pharmaceutical Preparations. P5621 Women's Clothing Stores. P5611 M en's and Boys' Clothing Stores. P5311 Department Stores. P5699 Misce llaneous Apparel and Accessory Stores. Types:- CMMT Co mment & Analysis. The Financial Times London Page I V ============= Transaction # 150 ============================================== Transaction #: 150 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:50:34 Selec. Rec. #: 16 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT934-15414 _AN-DJLB5ADGFT 931 012 FT 12 OCT 93 / Leading Article: Chunnel lessons WHEN THE Channel tunnel officially opens next May, the projec t will be nearly a year late and its cost of Pounds 8.8bn almost double the original estimate. The construction has been dogged by disputes between Euro tunnel, the operator, and TML, the contractor. Eurotunnel shareholders will also have been asked twice to stump up extra cash. The impression of financi al disorder in what was billed as a flagship of free enterprise is such that some observers are asking whether it would not have been better to leave th e project to the public sector. Such a conclusion would be wrong. First, it is not clear that Eurotunnel has been such a bad investment. Much will depen d on how much traffic it carries, but the initial shareholders show a modest if unexciting gain on their investment at yesterday's closing price of 488p . Second, it is almost certain that the public sector would have done worse in keeping costs under control. It is hard to believe that Department of Tra nsport civil servants would have harried the contractors with the same vigou r as Sir Alastair Morton, Eurotunnel's abrasive chief executive. However, le ssons can be learnt from the Eurotunnel experience. Doing so is also necessa ry, given the UK government's intention of attracting private finance for a range of traditionally public sector investments such as roads, railways, pr isons and hospitals. One lesson is that it is worth the government taking a bit more time and spending a bit more money defining projects up-front. With the Channel tunnel, failure to do so meant the operating franchise was awar ded to a group of construction companies. When they floated Eurotunnel off, it was already saddled with construction contracts with the original promote rs - a structure which has been blamed for many of the subsequent disputes. It would have been better to have started with an operator capable of negoti ating its own contracts. But to achieve that, the government would probably have had to prime the pump. Another lesson is that it may not be efficient t o transfer all the risk of infrastructure projects to the private sector, pa rticularly where the government itself is the source of uncertainty. In Euro tunnel's case, the UK government's sluggishness in building more rail and ro ad links to the tunnel and a tightening of safety regulations have all reduc ed the project's financial attraction. If the government indemnified private contractors for such political and regulatory risks, it would have an incen tive to keep them to the minimum. Countries:- GBZ Un ited Kingdom, EC. FRZ France, EC. Industries:- P16 22 Bridge, Tunnel and Elevated Highway. P4785 Inspection and Fixed Facil ities. Types:- CMMT Comment & Analysis. The Financial Times London Page 17 ============= Transaction # 151 ============================================== Transaction #: 151 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:50:40 Selec. Rec. #: 16 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT934-15414 _AN-DJLB5ADGFT 931 012 FT 12 OCT 93 / Leading Article: Chunnel lessons WHEN THE Channel tunnel officially opens next May, the projec t will be nearly a year late and its cost of Pounds 8.8bn almost double the original estimate. The construction has been dogged by disputes between Euro tunnel, the operator, and TML, the contractor. Eurotunnel shareholders will also have been asked twice to stump up extra cash. The impression of financi al disorder in what was billed as a flagship of free enterprise is such that some observers are asking whether it would not have been better to leave th e project to the public sector. Such a conclusion would be wrong. First, it is not clear that Eurotunnel has been such a bad investment. Much will depen d on how much traffic it carries, but the initial shareholders show a modest if unexciting gain on their investment at yesterday's closing price of 488p . Second, it is almost certain that the public sector would have done worse in keeping costs under control. It is hard to believe that Department of Tra nsport civil servants would have harried the contractors with the same vigou r as Sir Alastair Morton, Eurotunnel's abrasive chief executive. However, le ssons can be learnt from the Eurotunnel experience. Doing so is also necessa ry, given the UK government's intention of attracting private finance for a range of traditionally public sector investments such as roads, railways, pr isons and hospitals. One lesson is that it is worth the government taking a bit more time and spending a bit more money defining projects up-front. With the Channel tunnel, failure to do so meant the operating franchise was awar ded to a group of construction companies. When they floated Eurotunnel off, it was already saddled with construction contracts with the original promote rs - a structure which has been blamed for many of the subsequent disputes. It would have been better to have started with an operator capable of negoti ating its own contracts. But to achieve that, the government would probably have had to prime the pump. Another lesson is that it may not be efficient t o transfer all the risk of infrastructure projects to the private sector, pa rticularly where the government itself is the source of uncertainty. In Euro tunnel's case, the UK government's sluggishness in building more rail and ro ad links to the tunnel and a tightening of safety regulations have all reduc ed the project's financial attraction. If the government indemnified private contractors for such political and regulatory risks, it would have an incen tive to keep them to the minimum. Countries:- GBZ Un ited Kingdom, EC. FRZ France, EC. Industries:- P16 22 Bridge, Tunnel and Elevated Highway. P4785 Inspection and Fixed Facil ities. Types:- CMMT Comment & Analysis. The Financial Times London Page 17 ============= Transaction # 152 ============================================== Transaction #: 152 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:51:19 Selec. Rec. #: 17 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-5866 _AN-DFBBWAARFT 9306 02 FT 02 JUN 93 / Chunnel contracts go-ahead near By ANDREW HILL BRUSSELS THE European Commission looks likely to approve the basic contracts to provide freight, passenger and sleeper rail services through the Channel tunnel before the August holidays, following a long competition inquiry. Bu t Mr Karel Van Miert, EC competition commissioner, wants to establish the pr inciple that private operators can compete with state railway companies, eve n if there is little pressure at the moment from potential rival services. I f the Commission decides to outlaw or substantially amend the contracts, tha t could further delay the opening of the tunnel, due in early 1994. Even so, Mr Van Miert, who used to oversee EC transport policy until he took over th e competition portfolio in January, is said to be keen to encourage the cros s-Channel link. His spokesman said yesterday that an announcement was expect ed 'pretty soon'. Eurotunnel, which will operate the tunnel, and British and continental European railways have sought clearance under EC competition ru les for a series of contracts. Most important is the deal between Eurotunnel , British Rail and SNCF, the French state railways, which gives the railways the right to take up 50 per cent of the tunnel's capacity for passenger thr ough-trains during Eurotunnel's 55-year operating concession. The other 50 p er cent will be used by Eurotunnel itself for shuttle services between the t wo ends of the tunnel. The Commission was originally examining the possibili ty of reducing the length of the contract, perhaps to as little as 30 years, to let private operators compete with BR and SNCF. The Brussels authorities are now considering how to leave the contract open to competition without j eopardising the financing of the link. The Commission is also completing its consultations on the exclusive contracts for freight and sleeper services. Yesterday, it published the official notice inviting comments on European Ni ght Services (ENS), the sleeper joint venture majority-owned by BR in partne rship with French, Dutch, German and Belgian railways. Parties have been giv en 30 days to submit views on the agreement, which the Commission believes c ould infringe competition rules. In practice, however, there are few potenti al competitors who could meet the high cost of entering the sleeper market. ENS has already placed an order, said to be worth Pounds 100m, for 139 sleep ers to be built by Metro-Cammell, a subsidiary of GEC Alsthom. The deadline for comments on freight services through the tunnel passed at the end of Mar ch. Companies:- British Rail. Societe Nationale d es Chemins de Fer Francais. European Night Services. Countrie s:- QRZ European Economic Community (EC). Industries:- P4011 Railroads, Line-Haul Operating. P4785 Inspection and Fi xed Facilities. Types:- MKTS Contracts. The Financial Times London Page 2 ============= Transaction # 153 ============================================== Transaction #: 153 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:51:25 Selec. Rec. #: 17 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT932-5866 _AN-DFBBWAARFT 9306 02 FT 02 JUN 93 / Chunnel contracts go-ahead near By ANDREW HILL BRUSSELS THE European Commission looks likely to approve the basic contracts to provide freight, passenger and sleeper rail services through the Channel tunnel before the August holidays, following a long competition inquiry. Bu t Mr Karel Van Miert, EC competition commissioner, wants to establish the pr inciple that private operators can compete with state railway companies, eve n if there is little pressure at the moment from potential rival services. I f the Commission decides to outlaw or substantially amend the contracts, tha t could further delay the opening of the tunnel, due in early 1994. Even so, Mr Van Miert, who used to oversee EC transport policy until he took over th e competition portfolio in January, is said to be keen to encourage the cros s-Channel link. His spokesman said yesterday that an announcement was expect ed 'pretty soon'. Eurotunnel, which will operate the tunnel, and British and continental European railways have sought clearance under EC competition ru les for a series of contracts. Most important is the deal between Eurotunnel , British Rail and SNCF, the French state railways, which gives the railways the right to take up 50 per cent of the tunnel's capacity for passenger thr ough-trains during Eurotunnel's 55-year operating concession. The other 50 p er cent will be used by Eurotunnel itself for shuttle services between the t wo ends of the tunnel. The Commission was originally examining the possibili ty of reducing the length of the contract, perhaps to as little as 30 years, to let private operators compete with BR and SNCF. The Brussels authorities are now considering how to leave the contract open to competition without j eopardising the financing of the link. The Commission is also completing its consultations on the exclusive contracts for freight and sleeper services. Yesterday, it published the official notice inviting comments on European Ni ght Services (ENS), the sleeper joint venture majority-owned by BR in partne rship with French, Dutch, German and Belgian railways. Parties have been giv en 30 days to submit views on the agreement, which the Commission believes c ould infringe competition rules. In practice, however, there are few potenti al competitors who could meet the high cost of entering the sleeper market. ENS has already placed an order, said to be worth Pounds 100m, for 139 sleep ers to be built by Metro-Cammell, a subsidiary of GEC Alsthom. The deadline for comments on freight services through the tunnel passed at the end of Mar ch. Companies:- British Rail. Societe Nationale d es Chemins de Fer Francais. European Night Services. Countrie s:- QRZ European Economic Community (EC). Industries:- P4011 Railroads, Line-Haul Operating. P4785 Inspection and Fi xed Facilities. Types:- MKTS Contracts. The Financial Times London Page 2 ============= Transaction # 154 ============================================== Transaction #: 154 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:51:39 Selec. Rec. #: 18 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT942-11114 _AN-EEFEDAHLFT 940 506 FT 06 MAY 94 / Survey of The Channel Tunnel (16): Bi g potential benefits - Belgium looks for economic spin-offs By EMMA TUCKER The official opening of the Channel Tunnel later this year promises to help revitalise the north-west regions of Belgium, even though the country's biggest ports will suffer a loss of traf fic. The chambers of commerce in Veurne and Courtrai, along with the West Fl anders Regional Development Authority in Bruges, are gearing up to become pa rt of what they refer to as the 'new European Metropolitan Area.' This takes in the Nord-Pas de Calais in France, Western Flanders and Hainaut in Belgiu m, and Kent in the UK. The potential for this region is enormous. According to Mr Anthony Vande Candelare, an urban planner who made a study of the infl uence of the Channel Tunnel on the west of Belgium and the North of France: 'Overnight, the Belgian coast and the North of France will become the centre of Europe.' Mr Jo Libeer, managing director of the Courtrai chamber of comm erce, is equally optimistic about the likely impact on the area of the tunne l. 'With the TGV and the chunnel this region, which was sort of in the corne r of Europe, will now be in the middle of a new developing area,' he says. T his is no bad thing for Belgium. In its last economic survey of the country, the Organisation for Economic Co-operation and Development said the Belgian economy had deteriorated 'progressively' since the 1980s. 'And over the las t 10 to 12 months it has taken a distinct turn for the worse.' Furthermore, Flanders, the area most likely to benefit from the arrival of the tunnel, ha s recently suffered more rapid increases in unemployment than in Wallonia an d the Brussels region. The unemployment rate, which in 1990 was 9.5 per cent in Flanders has risen to 13 per cent. The Belgian chambers in the regions m ost directly affected believe there are two main areas for development: firs tly, increasing traffic through western Flanders as holidaymakers and freigh t carriers head towards the tunnel-opening in Calais; and secondly tourism. To benefit fully, however, a crucial 7km stretch of the E40 European motorwa y between Veurne and the French border has yet to be completed. Once this is done it will be possible to drive from Russia to England without leaving a motorway, says Mr Philippe Claerhout, chairman of the Veurne chamber of comm erce and industry. Fortunately, plans to complete the stretch have been agre ed and it should be open some time next year. On the downside, the Westhoek region is badly placed to benefit from rail transport. 'Even after the doubl ing of the tracks and electrification of the railway line between Ghent and De Panne, we will still be a remote corner,' says Mr Claerhout. Furthermore, Belgium's biggest ports are expecting traffic loads to fall, as freight and passengers are directed towards Calais. Worst affected will be Ostend and Z eebrugge, two ports hoping to hold their own by concentrating on links with ports in the north of England. Nonetheless, the improved, if imperfect, tran sport communications of the West Flanders region are apparently paying off. Mr Geert Sanders, who works for the Regional Development Authority of West F landers, says there is already evidence that the region's enhanced communica tions are attracting new businesses. For example, Baronie, a Dutch chocolate company, is opening a new base in the southern part of West Flanders. There is, however, a danger that Belgium will not make the most of the commercial opportunities - 'we will try to attract new industry, but our region is ver y small and our industrial zones are full,' says Mr Ludo Verstraete, of the Veurne chamber of commerce. The Belgian authorities have dragged their feet over decisions to dedicate new areas, he says. The other main focus for deve lopment is tourism. As Mr Claerhout says: 'We need to convince people from o ther countries that it is worth their while to stop in Westhoek at the time of their journey through the North of Europe to England.' The potential is t here. West Flanders is home to some of the best-known World War One battlefi elds, and promoters of the region insist that its large, open green spaces w ill, when properly developed, attract foreign visitors. But once again, ther e is a danger that Belgium will miss out. It has been slower to develop the tourist potential of the Channel Tunnel than France. Around Calais, a commer cial and leisure centre, hotels and activity parks, known as 'La Cite de L'E urope', are springing up while Lille is home to Euralille, a similar develop ment. As Mr Verstraete of the Veurne chamber of commerce says: 'Tourism is v ery important . . . we really have to develop our hotels and tourist infrast ructure.' But the biggest advantages for Belgium will come from close co-ope ration between the national and federal authorities and their French and UK counterparts. In a Europe without frontiers, this will be the most effective way of benefiting from the the Channel Tunnel. Countries:- BEZ Belgium, EC. Industries:- P9611 Administrat ion of General Economic Programs. P953 Housing and Urban Development. < /IN> Types:- CMMT Comment & Analysis. The Financi al Times London Page VI ============= Transaction # 155 ============================================== Transaction #: 155 Transaction Code: 22 (Record(s) Saved) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:51:43 Selec. Rec. #: 18 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT942-11114 _AN-EEFEDAHLFT 940 506 FT 06 MAY 94 / Survey of The Channel Tunnel (16): Bi g potential benefits - Belgium looks for economic spin-offs By EMMA TUCKER The official opening of the Channel Tunnel later this year promises to help revitalise the north-west regions of Belgium, even though the country's biggest ports will suffer a loss of traf fic. The chambers of commerce in Veurne and Courtrai, along with the West Fl anders Regional Development Authority in Bruges, are gearing up to become pa rt of what they refer to as the 'new European Metropolitan Area.' This takes in the Nord-Pas de Calais in France, Western Flanders and Hainaut in Belgiu m, and Kent in the UK. The potential for this region is enormous. According to Mr Anthony Vande Candelare, an urban planner who made a study of the infl uence of the Channel Tunnel on the west of Belgium and the North of France: 'Overnight, the Belgian coast and the North of France will become the centre of Europe.' Mr Jo Libeer, managing director of the Courtrai chamber of comm erce, is equally optimistic about the likely impact on the area of the tunne l. 'With the TGV and the chunnel this region, which was sort of in the corne r of Europe, will now be in the middle of a new developing area,' he says. T his is no bad thing for Belgium. In its last economic survey of the country, the Organisation for Economic Co-operation and Development said the Belgian economy had deteriorated 'progressively' since the 1980s. 'And over the las t 10 to 12 months it has taken a distinct turn for the worse.' Furthermore, Flanders, the area most likely to benefit from the arrival of the tunnel, ha s recently suffered more rapid increases in unemployment than in Wallonia an d the Brussels region. The unemployment rate, which in 1990 was 9.5 per cent in Flanders has risen to 13 per cent. The Belgian chambers in the regions m ost directly affected believe there are two main areas for development: firs tly, increasing traffic through western Flanders as holidaymakers and freigh t carriers head towards the tunnel-opening in Calais; and secondly tourism. To benefit fully, however, a crucial 7km stretch of the E40 European motorwa y between Veurne and the French border has yet to be completed. Once this is done it will be possible to drive from Russia to England without leaving a motorway, says Mr Philippe Claerhout, chairman of the Veurne chamber of comm erce and industry. Fortunately, plans to complete the stretch have been agre ed and it should be open some time next year. On the downside, the Westhoek region is badly placed to benefit from rail transport. 'Even after the doubl ing of the tracks and electrification of the railway line between Ghent and De Panne, we will still be a remote corner,' says Mr Claerhout. Furthermore, Belgium's biggest ports are expecting traffic loads to fall, as freight and passengers are directed towards Calais. Worst affected will be Ostend and Z eebrugge, two ports hoping to hold their own by concentrating on links with ports in the north of England. Nonetheless, the improved, if imperfect, tran sport communications of the West Flanders region are apparently paying off. Mr Geert Sanders, who works for the Regional Development Authority of West F landers, says there is already evidence that the region's enhanced communica tions are attracting new businesses. For example, Baronie, a Dutch chocolate company, is opening a new base in the southern part of West Flanders. There is, however, a danger that Belgium will not make the most of the commercial opportunities - 'we will try to attract new industry, but our region is ver y small and our industrial zones are full,' says Mr Ludo Verstraete, of the Veurne chamber of commerce. The Belgian authorities have dragged their feet over decisions to dedicate new areas, he says. The other main focus for deve lopment is tourism. As Mr Claerhout says: 'We need to convince people from o ther countries that it is worth their while to stop in Westhoek at the time of their journey through the North of Europe to England.' The potential is t here. West Flanders is home to some of the best-known World War One battlefi elds, and promoters of the region insist that its large, open green spaces w ill, when properly developed, attract foreign visitors. But once again, ther e is a danger that Belgium will miss out. It has been slower to develop the tourist potential of the Channel Tunnel than France. Around Calais, a commer cial and leisure centre, hotels and activity parks, known as 'La Cite de L'E urope', are springing up while Lille is home to Euralille, a similar develop ment. As Mr Verstraete of the Veurne chamber of commerce says: 'Tourism is v ery important . . . we really have to develop our hotels and tourist infrast ructure.' But the biggest advantages for Belgium will come from close co-ope ration between the national and federal authorities and their French and UK counterparts. In a Europe without frontiers, this will be the most effective way of benefiting from the the Channel Tunnel. Countries:- BEZ Belgium, EC. Industries:- P9611 Administrat ion of General Economic Programs. P953 Housing and Urban Development. < /IN> Types:- CMMT Comment & Analysis. The Financi al Times London Page VI ============= Transaction # 156 ============================================== Transaction #: 156 Transaction Code: 19 (Record Selected) Terminal ID: 57900 Z39.50 Server ID: 19 (TREC) Session ID: 2 New Z39.50 Server ID: 0 (Astro/Math/Stat) Old Z39.50 Server ID: 0 (Astro/Math/Stat) Usr Interface: Prob Time Cmd Sent: 16:00:00 Rec. Format: Long Time Cmd Complete: 13:52:39 Selec. Rec. #: 19 Boolean Indexes Used: 0 Author 0 Date 0 Rectype 0 X_Corp Author 0 Call # 0 Title 0 Language 0 X_Author 0 Uniform Title 0 Subject 0 ISBN 0 X_Title 0 X_Subject 0 Organization 0 LCCN 0 Topic 0 Host Item 0 Series 0 ISSN 0 Keyword 0 Conf Boolean Conjunctions: Button 1: and Button 2: OR Button 3: or Used?: No Used?: No Used?: No # Keywords: 0 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: FT941-16017 _AN-EALDDAEVFT 940 112 FT 12 JAN 94 / Leading Article: Chunnel pricing Investors have not done too well so far out of Eurotunnel. No w it looks like passengers are not going to get a particularly good deal eit her. That, at any rate, is the impression given by the prices Eurotunnel pro poses to charge for its car passenger service. The pricing schedule, announc ed yesterday, ranges from Pounds 220 for a return journey in winter to Pound s 310 in the peak summer months. Not only are the prices higher than expecte d. They are also slightly higher than those charged by Stena Sealink and P&O European Ferries, the two ferry groups which dominate the cross-Channel mar ket. Moreover, there is every sign that neither Eurotunnel nor the ferry com panies want to engage in a price war. At every opportunity, they stress the point. P&O yesterday even took the step of commending Eurotunnel's fares as 'positive and realistic'. What we are witnessing are the latest moves in a c omplex oligopoly game. Eurotunnel is anxious to avoid a price war because it s gigantic debts mean it has to find Pounds 600m in annual interest payments alone. Equally, the ferry companies are concerned that an erosion of margin s would force them out of the market. But passengers should not lose heart. Just because the main players say they do not want a price war does not mean that they can necessarily stop one. Oligopoly games are hard to control. In the short run, Eurotunnel has every incentive to use the ferry companies' p rices as a benchmark for its own services. This is because for several month s the group will not be able to run at full c