============= Transaction # 1 ============================================== Transaction #: 1 Transaction Code: 0 (New Host Selected) Terminal ID: 12781888 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: Mon Aug 23 11:42:19 1999 Rec. Format: Short Time Cmd Complete: Mon Aug 23 11:42:19 1999 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: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 12781888 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: Mon Aug 23 11:43:33 1999 Rec. Format: Short Time Cmd Complete: Mon Aug 23 11:43:33 1999 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: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 6 ============================================== Transaction #: 6 Transaction Code: 2 (New Disp. Format Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 7 ============================================== Transaction #: 7 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 9 ============================================== Transaction #: 9 Transaction Code: 6 (Direct Rank Search) Terminal ID: 12781888 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: Mon Aug 23 11:48:28 1999 Rec. Format: Long Time Cmd Complete: Mon Aug 23 11:48:28 1999 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 @ {ventolin})" ============= Transaction # 10 ============================================== Transaction #: 10 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 20 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 11 ============================================== Transaction #: 11 Transaction Code: 8 (Mixed Bool./Dir. Rank Search) Terminal ID: 12781888 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: Mon Aug 23 11:50:06 1999 Rec. Format: Long Time Cmd Complete: Mon Aug 23 11:50:06 1999 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: 2 Error Code: 0 # Hits: 0 Help Code: 0 # Displayed: 0 Help ID: 0 Associated Variable Length Text: zfind "(topic @ {ventolin}) and (title {glaxo})" ============= Transaction # 12 ============================================== Transaction #: 12 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 9 Help Code: 0 # Displayed: 9 Help ID: 0 Associated Variable Length Text: ============= Transaction # 13 ============================================== Transaction #: 13 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 14 ============================================== Transaction #: 14 Transaction Code: 12 (Record Relevance Feedback) Terminal ID: 12781888 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: Mon Aug 23 11:50:56 1999 Rec. Format: Long Time Cmd Complete: Mon Aug 23 11:50:56 1999 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 # 15 ============================================== Transaction #: 15 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 16 ============================================== Transaction #: 16 Transaction Code: 15 (Terms Cleared) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 17 ============================================== Transaction #: 17 Transaction Code: 6 (Direct Rank Search) Terminal ID: 12781888 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: Mon Aug 23 11:53:43 1999 Rec. Format: Long Time Cmd Complete: Mon Aug 23 11:53:43 1999 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 @ {tourism increase})" ============= Transaction # 18 ============================================== Transaction #: 18 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 54709 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 19 ============================================== Transaction #: 19 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT942-10654 _AN-EEJC9ABMFT 940 510 FT 10 MAY 94 / World Trade News: Scheme to increase tourist arrivals By SHIRAZ SIDHVA NEW DELHI The Indian government has launched a tour ism promotion programme to increase the number of foreign visitors from 1.76 m to 5m over three years. A calmer political climate and further opening up of the economy have led to an increase in tourist arrivals, to 1.76m from 1. 5m the previous year. Foreign exchange earnings from tourism increased by 14 per cent to Dollars 1.47bn for 1993-94, according to figures published by t he Ministry of Tourism and Civil Aviation. Mr Ghulam Nabi Azad, tourism mini ster, said Bombay airport, the country's prime entry point, alone handled 16 4,000 domestic and international flights, an increase of more than 150 per c ent in a decade. Liberalisation of domestic routes last year helped ease bot h congestion and non-availability of seats on flights within the country. To urism is India's third-largest foreign exchange earner, and has more of a ra nge of destinations to offer than most countries in the world. But the count ry accounts for 0.2 per cent of international tourism, largely because of in adequate infrastructure. Officials in the Tourism Ministry say a big constra int is a lack of middle-level hotels. 'The choice we offer the foreign touri st is limited,' said a senior official. The foreign tourist must choose betw een expensive five-star comfort or small hotels that cater to backpackers an d lack the most basic of amenities. 'Our plan is to offer something to the t ourist between the very wealthy ones and the business travellers, and those who have very little money to spend.' Foreign hotel chains are enthusiastic about the more relaxed investment rules after liberalisation (the hotel indu stry has always been dominated by private companies), and are flocking to In dia with joint ventures. The government estimates that foreign investment is worth at least Dollars 250m (Pounds 168m) in the hotel industry. The Austra lian Southern Pacific hotels plans to start a series of three-star travel lo dges in main cities. The Oberoi group is linking with Accor of France to sta rt a network of motels across the country. Kamats, a chain of south Indian r estaurants, is linking with the Japanese Dai Ici and Pearl Hotels, to offer budget accommodation at Buddhist pilgrimage destinations. The Indian Taj Gro up, which operates some of India's finest hotels, plans a 350-room hotel in Bombay to supplement its famous Taj Mahal, and a series of Club Med resorts in association with the French company. And a group of non-resident Indians has got together with the Irish company, Deltic Management, to build a Rs8.7 bn (Pounds 186m) 600-room floating luxury hotel in Bombay. Coun tries:- INZ India, Asia. Industries:- P9611 Administration of General Economic Programs. Types:- GO VT Government News. The Financial Times London Pag e 6 ============= Transaction # 20 ============================================== Transaction #: 20 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-14219 _AN-CGIA7AA5FT 920 709 FT 09 JUL 92 / Rise in value of Scottish tourism THE TOTAL value of tourism to Scotland increased by 5 per ce nt last year to Pounds 1.74bn, according to the Scottish Tourist Board's ann ual report, published yesterday. More than 185,000 people rely on tourism in Scotland for their livelihood. The Financial Times London Page 8 ============= Transaction # 21 ============================================== Transaction #: 21 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-12936 _AN-EGVDMABVFT 940 722 FT 22 JUL 94 / D-Day events boost tourism earnings < /HEADLINE> By DAVID OWEN This summer's D-Day co mmemoration may have increased Britain's tourism earnings from North America by as much as Pounds 73m, according to Mr Iain Sproat, national heritage mi nister. He said in a Commons written answer that early indications suggested the event had attracted between 75,000 and 125,000 extra North American vis itors to the UK. This had increased the country's earnings from tourism by ' between Pounds 44m and Pounds 73m', he said. Both the number of visitors and the amount of visitor spending were 'substantially' higher than forecast. E arlier this year, Mr John Major was forced to defuse an embarrassing row ove r the nature of the 50th anniversary commemoration by bowing to veterans' de mands for a bigger say in the events. There had been widespread criticism of the national heritage department's handling of the anniversary. Countries:- GBZ United Kingdom, EC. Industries:- P9611 Administration of General Economic Programs. Types:- NEWS General News. The Financial Times London Page 9 ============= Transaction # 22 ============================================== Transaction #: 22 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-3827 _AN-DFKB5AHEFT 9306 11 FT 11 JUN 93 / Survey of South Africa (17): Dressed u p with nowhere to go - The problems facing the tourist industry By PHILIP GAWITH THE PROBLEM facing the South A frican tourism industry was aptly illustrated last month by the state presid ent, Mr FW de Klerk, when he opened the Indaba, the annual tourism marketing forum, in Durban. He started his speech by quoting a famous passage from Al an Paton's novel Cry the Beloved Country, the most well known book written a bout South Africa: 'There is a lovely road that runs from Ixopo into the hil ls. These hills are grass covered and rolling and they are lovely beyond the singing of it.' As Mr de Klerk noted, Ixopo is not far from Durban. Sadly, 'those same rolling hills, and some other parts of our country are now scene s of violence'. Having shaken off the stigma of apartheid, the tourism indus try now finds itself saddled with the stigma of violence. That is the percep tion: it matters little that most of the country is untouched by violence. A lthough figures supplied by the South African Tourism Board (Satour) show th at foreign visitors increased last year by 7.4 per cent to 560,000 (excludin g 2.1m visitors from Africa), this was a long way short of the 20 per cent g rowth hoped for. The Indaba itself provided confirmation of hard times in th e industry. The corridors of the huge exhibition hall were hardly bustling a nd many participants said business was quiet. It was very much a case of an industry all dressed up with nowhere to go. To be fair, economic recession i s also an important factor. Indeed, some in the trade argue that it is a mor e important determinant of business activity than violence. One such person was Mr Nick Seewer, general manager of the prestigious Mount Nelson hotel in Cape Town. He said the hotel was doing very well, had had its best April in years, and summer bookings were good. He made the point that seasoned trave llers, of the sort that frequent his sort of establishment, know South Afric a and are not easily put off. Lower down the market, however, the pinch is b eing felt. Mr Helder Pereira, operations director of Southern Suns, the coun try's largest hotel group, confirms a 25 per cent increase in cancellations after the assassination in April of Chris Hani, the black political leader. Whether stability will bring the riches the industry feels it deserves - 'ou r fair share of the market' - is another matter. Tourism only accounts for a bout 2 per cent of South Africa's GDP compared to an international average o f 6 per cent. Clearly there is enormous potential for growth given that the quality of the product is not in dispute, and Satour has set targets of 966, 000 annual foreign visitors by 1995 and 1.75m by 2000. Stability alone, howe ver, will not see these targets realised. Recent surveys show declining cons umer satisfaction in areas such as 'value for money' and service. These shor tcomings need to be rectified if South Africa is to establish itself as a co mpetitive, user-friendly destination. On the other hand, tourism can only be nefit from the increased priority it now enjoys with government. A new minis try, solely responsible for tourism, has been established; a White Paper, ou tlining the development of the industry has been published and deregulation continues (evident in the dramatic increase in the number of international c arriers flying to the country, from 19 in 1990 to 36 in 1993). All these ste ps augur well for the future. Countries:- ZAZ South Africa, Africa. Industries:- P7011 Hotels and Motels. P7999 Amusement and Recreation, NEC. P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. The Financial Times London Page VIII ============= Transaction # 23 ============================================== Transaction #: 23 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 54709 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 24 ============================================== Transaction #: 24 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-13940 _AN-CGJA7ACSFT 920 710 FT 10 JUL 92 / International Company News: Kaufhof p rofits set to rise 20% By ANDREW FISHER FRANKFURT PROFITS at Kaufhof, the German reta iling group, should rise by at least 20 per cent this year, despite the more difficult trading climate, Mr Jens Odewald, chief executive, told the annua l meeting. Kaufhof, which has expanded beyond department stores into special ist outlets and tourism, has benefited considerably from the increased busin ess opportunities opened up by German unification. Last year, its net profit s rose by 38 per cent to DM166m (Dollars 102m). Turnover was up by 21.5 per cent to DM17.8bn, though the increase would have been only 12 per cent witho ut the new business in eastern Germany, where thegroup has invested nearly D M400m. However, the west German economy has slowed down recently and consume rs have had to bear higher direct and indirect taxes to help pay for unity. Mr Odewald said Kaufhof's turnover in the first half was 13 per cent higher at DM8.9bn, a growth rate with which it was 'not unsatisfied'. He said the g roup's aim in coming years was to grow at twice the rate of the retail secto r. In tourism, he expected turnover to grow by around 30 per cent this year. Fresenius, the drugs and medical technology group, yesterday forecast incre ased profits for this year and announced plans for a DM174m rights issue. Th e share offer is on a one-for-three basis at DM440 a share. The company said its business in the current year was running positively, and that it expect ed growth in turnover of more than 10 per cent to around DM1.5bn plus an imp rovement in net profit. After-tax profits in 1991 totalled DM15.9m. The Financial Times London Page 24 ============= Transaction # 25 ============================================== Transaction #: 25 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-4468 _AN-EIHDIAFVFT 9409 08 FT 08 SEP 94 / International Company News: Increased tourism lifts Air New Zealand profit By TERRY HALL < /BYLINE> WELLINGTON Air New Zealand lifted tax-paid profits by 36.6 per cent to NZDollars 190.7m (USDollars 115.1m) in the year to end-June due to a stronger tourism market, particularly with vis itors from Asia. The company said yesterday it was confident of further grow th during the coming year with the continuing development of its Asia and Pa cific networks, together with opportunities provided by marketing ofagreemen ts with Australia. Air New Zealand is using Brisbane as a hub for many of it s services to Asia. Group operating revenue rose by 11 per cent to NZDollars 2.6bn of which NZDollars 215m was increased passenger revenue. Group cash f low from operating revenues rose 64.6 per cent to NZDollars 425m. Total asse ts were up by NZDollars 95.4m to NZDollars 2.86bn. Directors are recommendin g a final dividend of 8 cents a share, making a total of 14 cents for the ye ar, up 4 cents on last year. Companies:- Air New Zeal and. Countries:- NZZ New Zealand. Industrie s:- P4512 Air Transportation, Scheduled. Types:- FIN Annual report. The Financial Times London Page 35 ============= Transaction # 26 ============================================== Transaction #: 26 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT942-7348 _AN-EEZDOABMFT 9405 26 FT 26 MAY 94 / World Trade News: Cuba sets Dollars 1b n tourism target By CANUTE JAMES KINGSTON The Cuban government has set new targets wh ich indicate expectations of a significant expansion in tourism over the nex t two years, writes Canute James in Kingston. It is expecting gross income f rom the sector to reach Dollars 900m (Pounds 600) this year and Dollars 1bn next year, Mr Osmany Cienfuegos, the tourism minister, told a recent confere nce on Cuban tourism. Gross income from the sector last year was Dollars 720 m, of which about one third represented net earnings. The government is hopi ng the volume of visitors will reach 1m by 1996, double last year's volume, the minister said. The island's stock of hotel rooms is being increased to m eet the growth in visitor arrivals, with foreign investors involved in the c onstruction and rehabilitation of 7,000 rooms. The expansion in capacity sho uld lift the number of rooms to 50,000 by the year 2000, he said. Countries:- CUZ Cuba, Caribbean. Industries:- P9611 Administration of General Economic Programs. P79 Amusement and Recreation Services. Types:- ECON Economic Indicat ors. RES Facilities. The Financial Times Londo n Page 8 ============= Transaction # 27 ============================================== Transaction #: 27 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 20 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: FT944-1609 _AN-ELSDLAFKFT 9412 19 FT 19 DEC 94 / Survey of Sweden (7): Growing rapidly - Tourism By KAREN FOSSLI Tourism i s one of Sweden's fastest-growing sectors and, although the trade is relativ ely young, ranks as the country's third-largest industry, generating annual turnover of an estimated SKr98bn of which SKr21bn is derived from foreign to urists. The attraction of Sweden has to be, among many things, the country's unspoilt environment and alluring scenery comprising 60,000 islands, 90,000 lakes, a 4,725-mile coastline and endless forests. There are also 350 museu ms in the country and a wide variety of special events throughout the year. The tourist industry peaked in 1989 when turnover hit SKr100bn, but nose-div ed by nearly SKr80bn during 1990-91 when the then Social Democratic governme nt led by Mr Ingvar Carlsson, increased value added tax on tourism to 25 per cent in two stages. The VAT increase coincided with the onset of the deepes t recession to hit Sweden since the second world war. But the industry recov ered during 1991-93 after a new conservative Moderate government, led by Mr Carl Bildt, reorganised the marketing of tourism and cut VAT to 12 per cent. These factors were aided by the start of a recovery in the economy which be gan at the end of 1993. Nevertheless, even after the rate cut, Sweden's VAT remains significantly higher than the European average. The Swedes argue vig orously that prices in their country have become competitive with the rest o f Europe while a main priority of marketing seeks to dispel 'the myth' that Sweden is far too expensive to be considered a holiday destination by more t han just the elite. 'Surveys show that many foreigners still believe that Sw eden is too expensive. Heavy resources are therefore being invested in marke ting Sweden abroad,' the Swedish Trade Council said in its 1994 annual repor t on the country. In the first nine months of this year, the number of overn ight stays in Swedish hotels by foreigners rose 13 per cent compared with th e year-earlier period, and industry executives are predicting that 1994 will be a record year in terms of growth. Last year, foreigners' overnight stays alone reached 6.1m. During the first nine months of 1994, Dutch and Danish tourists accounted for the highest growth rate in overnight stays in percent age terms, rising respectively 25 per cent and 26 per cent while US visitors rose by 14 per cent. German tourists, the largest group of foreign visitors to Sweden, increased their overnight stays by 13 per cent and UK tourists 1 1 per cent. Another indication of the strength of this year's activity is a forecast rise in the number of cruise ship passengers calling on Stockholm a lone. It is estimated that international cruise ships will make 125 visits t o the capital city this year, carrying a total of 70,000 passengers, represe nting an increase of 10,000 passengers over 1993. Mr Per-Johann Orrby, presi dent of Next Stop Sweden (NSS), the Swedish Travel and Tourist Council, attr ibutes the rise in tourism's fortunes partly to Sweden's attractive prices - in foreign currency terms - since the krona was devalued by nearly 30 per c ent in 1992. The reduction of VAT and a slight recovery of the economy are a lso considered significant. NSS reckons that sterling buys 15 per cent more in Sweden since the devaluation, while the purchasing power of the US dollar has risen 18 per cent and the German mark 30 per cent. But the Swedes proba bly also have their next-door Nordic neighbours to thank for foreign interes t, following Norway's success in arranging the Winter Olympics earlier this year. For more than two weeks in February, hours and hours of pristine, sunl it 'Scandinavian' winter images were broadcast worldwide from Lillehammer in Norway. Such coverage undoubtedly had a spill-over affect for Sweden and mu st have improved the country's standing as a tourist destination. The Olympi cs boosted Norway's tourist industry by as much as 5 per cent this year but it would be difficult to quantify the effect it had on Swedish tourism. Acco rding to Mr Jan Brannstrom, managing director of Image Sweden, the state-bac ked agency which promotes Sweden internationally, recent studies revealed th at about half the foreign tourists visiting Sweden do so as part of a Scandi navian tour. But, he said, there were no plans for a joint Scandinavian tour ism marketing effort and, in the long-run, he saw few, if any, benefits from such a scheme. Another important factor which has undoubtedly lifted the aw areness of Sweden abroad is the apparent success of the big overhaul of the organisational structure of marketing services for tourism. The Swedish Tour ist Board was dismantled and Image Sweden established together with NSS. Ima ge Sweden purchases marketing services from NSS for an estimated NKr60m annu ally. Countries:- SEZ Sweden, West Europe. Industries:- P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. The Financ ial Times London Page IV ============= Transaction # 28 ============================================== Transaction #: 28 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT921-15886 _AN-CAHBJAAPFT 920 108 FT 08 JAN 92 / Survey of Kenya (16): Strategies for all seasons - Tourism, from potential disaster to mild success < BYLINE> By JULIAN OZANNE THE worldwide downturn in touri sm last year, fuelled by the Gulf crisis, the international economic recessi on and the escalating costs of air travel, has proved a watershed in Kenya. Kenya's dynamic tourism industry, although faced by the prospect of a severe loss of jobs and hard currency in what is its biggest foreign exchange earn ing sector, has turned 1991 from being a potential disaster into a mild succ ess. The private sector and the government, with cancellations running at up to 60 per cent for the peak season of January to March, rallied with a seri es of measures. The boldest move by government was the decision to open up K enya to South African tourists, several months before the October Commonweal th head of government conference in Harare. Visas, previously denied to Sout h Africans, were granted at the airport and an agreement was reached to allo w South African Airways and Kenya Airways to operate one flight each a week between Nairobi and Johannesburg. The government also gave new incentives to the hotel training college, established an autonomous airports authority an d started the rehabilitation of Nairobi's international airport and continue d to strengthen the newly-created Kenya Wildlife Service, a semi-autonomous parastatal in charge of security and management in Kenya's national parks. T he private sector moved quickly, reducing rates and increasing charter fligh ts, particularly from Spain and Britain. In August and September there were 42 such flights a week arriving in Kenya, each with about 200 seats, in addi tion to scheduled flights. These measures appear to have averted a slump in tourist arrivals which in 1990 nearly reached 900,000 people, while foreign exchange earnings last year should approach the 1990 level of Dollars 467m. Sustaining the remarkable growth which Kenya's tourist sector has enjoyed si nce independence will not be easy. Since 1963 the numbers of visitors a year have increased from 110,000 to 889,000 in 1990 and foreign exchange earning s in the same period have mushroomed from Dollars 25m to Dollars 467m. In 19 87, tourism overtook coffee as the country's number one foreign exchange ear ner. The impact on the rest of the economy has been vast. Throughout the las t decade employment in the sector has grown by at least 5 per cent a year an d tourism has contributed to the expansion of the services sector - hotels, restaurants, road and air transport - and to allied industries such as const ruction and food. Much of the rapid growth in tourism in the past quarter of a century has been due to declining costs of air travel and the extensive i nfrastructure which was in place at independence. The government has created a reasonably attractive enabling environment through welcoming foreign inve stment in tourism, the development of infrastructure and the maintenance of relative political stability. Increasing importance has been given to conser vation and better animal management and while the national parks and reserve s sector was marred by a long period of poaching and inefficiency between 19 76-88 it has become a top priority. However, with mounting regional competit ion and the demands of the growing population a much greater effort is requi red. In order to continue generating jobs and increasing critical foreign ex change earnings the government has recognised the need to creat a better env ironment. Mr Philemon Mwaisaka, permanent secretary in the Ministry of Touri sm, says the government is targeting two key areas for growth over the next three years: diversifying the type of tourism available and drawing in visit ors from new markets. Diversification away from game parks and beaches will depend on giving greater importance to attractions such as cultural, confere nce and speciality tourism, scuba diving, fishing or mountaineering, and ope ning up new areas of Kenya to tourist development such as the volcanic deser t around Lake Turkana. Attracting visitors from outside the traditional mark ets of the US and Europe will require a big publicity drive in the Asia Paci fic area, particularly Japan and Singapore. In order to realise both ambitio ns a overhaul of Kenya's hitherto weak overseas marketing is necessary. So f ar the government has been content to leave most of the marketing to the pri vate sector. Unlike many other countries Kenya does not have an autonomous t ourist board. Between 1986 and 1990 the government spent a mere Dollars 25m on marketing. Kenya's well organised private sector has been lobbying hard f or a tourist board to be set up under an autonomous director to launch a con certed marketing campaign of research, information gathering and publicity t o enable the industry to better tailor and target their products in a compet itive market. The government has given its blessing to the appeal but progre ss appears slow. Good marketing and closer links with airlines will be vital to attract the high income from the choosy Japanese market. Plans for Kenya Airways to open up a route to Bangkok next year may prove insufficient to p enetrate Asia and South Africa is proving a formidable competitor with Singa pore Airlines operating a flight to Johannesburg. A number of issues need th e government's urgent attention. Problem areas include privatisation of gove rnment share holdings in hotels, developing a strategy for high income VIP t ourism, planning how to cope with the growing demand for combination tourism with tourists visiting at least two African countries, better harmonisation of visa and health requirements and more incentives, such as import duty ex emption on vehicles for the tourist sector. ------------------------------- ---------------------- TOURISM PROFILE ------------------------------------ ----------------- Total Total Aver. length rec eipts (Dollars m) visitors of stay (days) 1965 30.2 14 7,400 9.3 1970 51.8 326,500 8.8 1980 222.4 362,700 15.7 1985 239.8 541,200 15. 9 1987 354.9 662,100 16.0 1988 393.3 676,900 16.0 1989 417.0 729,700 14.2 1990 467 .0 (est) 889,000 (est) na ----------------------------------------- ------------ Source: Ministry of Tourism ---------------------------------- ------------------- The Financial Times London Pa ge VIII Map (Omitted). Table ============= Transaction # 29 ============================================== Transaction #: 29 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 54709 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 30 ============================================== Transaction #: 30 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-2961 _AN-DFPCDAFXFT 9306 16 FT 16 JUN 93 / Survey of New Zealand (7): A surge in tourism - Big increase in holidaymakers from Asian countries By TERRY HALL INTERNATIONAL tourists are discoveri ng New Zealand in ever-larger numbers, helped in part by the increase in air services to the country and by strong promotions in Germany, Japan, Britain and the US. Tourism New Zealand, the body charged with promoting the countr y abroad, has invested NZDollars 60m over the past 18 months and the industr y is in a highly confident mood. In 1992, tourist numbers grew by 9.6 per ce nt to 1.05m, the first time they had passed the one million mark. The growth has continued this year with arrivals running 10.2 per cent, ahead of last year in the January - April period. The tourism board aims for 3m arrivals b y the year 2000. New Zealand now earns more than NZDollars 3bn a year from t ourism, making it the country's single biggest export earner, and the Touris m Board says it should be earning NZDollars 9bn by the year 2000. The board chief executive, Ian Kean, says the growth in numbers will be carefully hand led, especially in terms of the environment. 'The fresh, uncrowded, unspoile d nature of New Zealand is one of our main attractions - and we'll keep it t hat way. 'We offer a contemporary society with sophisticated cities, superb food and wine, a unique Maori culture, and physical and natural attractions which visitors say are unequalled anywhere in the world.' The industry sees its greatest growth potential as being part of the Asian Pacific region. Gro wing disposable income is seeing a sharp rise in visitor numbers, although t hey are still well below those from more traditional areas such as Australia , the US and Britain. Recession in the US led to a 5 per cent drop in touris t numbers in the year to March to 169,519, and Australian visitor numbers we re also down 1 per cent to 341,098. However, main promotions in Germany saw a 40 per cent lift in holidaymakers to 43,356, and they stayed for an averag e 30 days, longer than most other nationalities. The number of British visit ors rose by 22 per cent last year to 120,227, and they stayed the longest of any nationality, an average 33 days. However, this percentage is boosted by the number of UK residents making extended visits to stay with family or fr iends. Most European visitors prefer to rent a car and go where the mood tak es them, stopping at hotels or motels in the many small towns that take thei r fancy. So do Chinese visitors from Taiwan, Hong Kong and Singapore. Large numbers of Chinese settlers have lived in New Zealand from the goldmining da ys of the 1860s. Younger Japanese tourists are following the self-drive tren d, although due to language difficulties their older compatriots tend to tra vel in groups by coach or airline. Rapidly developing airlinks, mainly pione ered by Air New Zealand, with Korea, Japan, Indonesia, Thailand, Taiwan and Singapore, have led to a sharp rise in visitor numbers from all those countr ies. In the year to March the number of visitors from Taiwan rose by 46 per cent to a total of 91,387, There was also a 79 per cent increase in numbers from Singapore, and a 96 per cent rise from Korea. As Asian tourist numbers climb, so does their ownership of hotels. Singaporean and Hong Kong companie s have bought many of the country's top hotels over the past three years. Countries:- NZZ New Zealand. Industries:- < /XX> P7999 Amusement and Recreation, NEC. Types:- C MMT Comment & Analysis. The Financial Times London Page 32 ============= Transaction # 31 ============================================== Transaction #: 31 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 26 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: FT941-6132 _AN-ECCCVACGFT 9403 03 FT 03 MAR 94 / Tourism spending reaches Pounds 9.1bn Spending by overseas visitors to the UK rose 15 per cent to a record Pounds 9.1bn last year, but higher expenditure by British travel lers abroad led to a widening of the tourism balance-of-payments deficit. Br itish travellers abroad spent Pounds 12.8bn last year, a 14 per cent increas e on 1992, the Central Statistical Office said yesterday. The travel account deficit of the balance of payments rose to Pounds 3.7bn, compared with Poun ds 3.4bn in 1992. Countries:- GBZ United Kingdom, EC . Industries:- P7999 Amusement and Recreation, NEC. Types:- STATS Statistics. The Financial Times London Page 8 ============= Transaction # 32 ============================================== Transaction #: 32 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 27 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: FT923-9561 _AN-CHGA7ABHFT 9208 04 FT 04 AUG 92 / Canals keep the recession at bay By RICHARD EVANS BRITISH WATERWAYS, whic h runs the country's canal system, has increased revenues and maintained cap ital spending in spite of the recession and a third year of drought. Mr Davi d Ingman, the chairman, says in the report and accounts for 1991-92, publish ed yesterday, that earned revenue had increased by 6.6 per cent to Pounds 29 m in the face of difficult economic circumstances, compared with an increase of only 3 per cent in central government grant. The public-sector organisat ion is on target to become more self-financing but it is unlikely to become a target for privatisation as it will never make a profit. Its board, substa ntially restructured in the past few years with the introduction of senior p rivate-sector personnel, aims to improve waterway facilities by raising fina nce from various sources, increasing fishing and boating use of the waterway s, and preserving the heritage and environment of the system. Spending on pr iority repairs remained at a high level last year and increased to Pounds 14 .4m from Pounds 13.6m in 1990-91. The corporate plan envisages expenditure o f Pounds 68m over the next four years to eliminate a backlog of high-priorit y engineering works. Recreation, leisure and tourism income rose by 12 per c ent, and even in a period of recession there was an increase of more than 4 per cent to 26,000 in the number of pleasure boat licences issued. More than 100,000 angling licences are also issued annually. Sales of water for indus trial and other purposes are running at Pounds 2.7m a year, and the imbalanc e of water reserves across the UK, with a surfeit in Scotland, Wales and nor thern England and a shortfall in East Anglia and parts of the south-east, ha s highlighted the possible use of canals to transfer water in bulk. A six-mo nth feasibility study will be launched shortly. British Waterways report and accounts 1991-92. Customer Services, British Waterways, Willow Grange, Chur ch Road, Watford, WD1 3QA. Pounds 6 plus postage. The Financial Times London Page 8 ============= Transaction # 33 ============================================== Transaction #: 33 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 28 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: FT943-11867 _AN-EG1C5AB0FT 940 728 FT 28 JUL 94 / Outdated resorts 'hitting tourism' Outdated resorts are damaging the reputation of more attrac tive English tourist attractions, making it difficult to persuade UK residen ts to take their holidays at home, the English Tourist Board said yesterday. The board said that over the past decade the UK's tourism balance of paymen ts had fallen from breakeven to a deficit of Pounds 3.1bn. The deficit had g rown in spite of the increase in foreign visitors to the UK. Co untries:- GBZ United Kingdom, EC. Industries:- < IN>P7999 Amusement and Recreation, NEC. P9611 Administration of General Economic Programs. Types:- NEWS General News.

The Financial Times London Page 8 ============= Transaction # 34 ============================================== Transaction #: 34 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-3223 _AN-CINBUADLFT 9209 14 FT 14 SEP 92 / Survey on Mauritius (12): Expanding to urism presents dilemmas - Paradise has problems By J ULIAN OZANNE GOLDEN sunlight dances off the clear turquoise water of the Indian ocean. A gentle breeze, blowing across the lagoon, rust les the deep green leaves of palm trees fringing white sandy beaches. Half a mile out to sea, the surf breaks gently over the coral reef. There are few 'sea, sun and sand' tourist destinations in the world which come as close to paradise as Mauritius, with its excellent facilities for deep sea diving, b ig game fishing, water skiing, wind surfing, riding and sailing. But the tou rism sector is struggling to come to terms with a rocketing expansion of the industry. This has created serious environmental and economic problems and left government confused about the policy direction it should follow for the next five years. Industry experts say a comprehensive government five-year tourism development policy is eagerly awaited. They look to this to give cle ar directions about critical policy issues such as tourist arrivals, hotel d evelopment, international marketing strategies, environmental impact assessm ents, and plans to develop a more diversified and high quality product. The tourism boom in Mauritius has been impressive. Tourist arrivals have doubled in six years: 148,900 in 1985 to 298,500 last year. Earnings have risen fro m MR845m to M3.9bn over the same period, making tourism the third biggest fo reign exchange winner. Particularly good results have been achieved in boost ing the average spending per tourist, which increased from MR5,676 in 1985 t o M13,000 in 1991. After a disappointing year in 1991, during which tourist arrivals increased only by 2.4 per cent over the previous year ( mainly beca use of world recession and the Gulf War), Mr Noel Lee Cheong Lem, minister o f tourism, says arrivals look likely to return to a growth rate of about 10 per cent this year. This pattern of growth has had its costs. The number of hotels in the past six years has increased from 55 to 80, with an increase i n the number of beds from 5,387 to 10,482. Bed occupancy rates fell to a rec ord low of only 47 per cent last year, as the increase in tourists has not k ept pace with the increase in beds. Between 1985-1988, according to Mr Lem, a number of hotel development certificates were distributed as 'political fa vours' - without either adequate planning about how the new hotels were goin g to be filled, or consideration of the environmental impact of this expansi on. With low occupancy rates the new hotels are struggling to make profits, despite attempts to buy market share by cutting rates. Furthermore, the unre gulated growth in the number of hotels has had a detrimental impact on the e nvironment. Dumping of untreated sewage into the seas and lagoons, particula rly severe in the Grand Baie area, has had a damaging impact on the marine e cosystem. A moratorium on 20 new hotel projects expired last year, but Mr Le m says 16 of these projects have subsequently been shelved, and the governme nt is trying to persuade the other four not to go ahead. 'We are applying th e brakes on the further expansion of the tourist sector and at the same time trying to widen the market to allow hotels to achieve the rate of occupancy which is viable and profitable.' All new hotel developments will now also b e subject to an environmental impact assessment under the new Ministry of th e Environment. If hotel development is slowed, and the growth in arrivals co ntinues to boom, Mauritius's capacity problem and the economic viability of hotels is likely to ease considerably within the next three to four years. T he government has now abandoned an arbitrary limit of 400,000 arrivals by th e year 2000, and Mr Lem says Mauritius is a long way from the threshold of t olerance of tourist arrivals, and that the ratio of tourist arrivals to popu lation is still so low that at least 500,000 arrivals by the end of the cent ury is acceptable and possible. Two important challenges face the government in seeking to increase arrivals: developing new markets, and developing the infrastructure for the 'second phase' of development. Government is pinning its hopes on development of the Japanese and Indian markets, and consolidat ion of the French, British, German and South African markets. A once-a-week flight from Osaka to Mauritius is expected to start by 1994. But hoteliers a nd tour operators say the Government Tourist Office is weak and ineffective, and must develop a much more aggressive marketing campaign. They say the MR 65m allocated to promotion in this year's budget is not enough. The governme nt will continue to ban charter flights, camping and caravan sites, to disco urage 'low budget' tourists and maintain Mauritius's image as an upmarket de stination for 'low volume high income'. The question remains whether the suf ficient growth in numbers can come from the high income market alone. Moreov er, many 'low budget' tourists, especially from France, continue to find the ir way to Mauritius by taking charters to Reunion and then making the short (50 minutes) flight to Mauritius. Some hoteliers and tour operators believe it would be better to accept that low budget tourists are going to come, cat er properly for them, and get the maximum revenue out of them. They also say that Mauritius remains an extremely expensive destination, even for the hig h-income bracket tourist, and that only by considerably improving the qualit y of the product and service will the industry be able to continue to attrac t increased volume in the face of competition from Kenya, Seychelles, Indone sia, Maldives and Thailand. Development of infrastructure and added faciliti es will be critical to further growth - as will maximising revenue by attrac ting tourists off the beaches to spend more money on other activities. The d evelopment of the National Handicraft Centre, and of inland facilities such as the 'Domain du Chasseur,' a deer hunting and nature park, is being welcom ed by the private sector. After a period of rapid growth the government is n ow facing crucial decisions on how to consolidate and expand its thriving to urist sector to ensure that continued growth will be sustainable. --------- ----------------------------------------------------------- TOURISM ------------------------------------------------------- ------------- 1986 1988 1990 1991 1992* -------------------------------------------------------------------- Arrivals (000s) 165.3 239.3 291.6 300.7 330 Gross ea rnings (MRs) 1.19bn 2.37bn 3.63bn 3.88bn 4.40bn Bed occupancy (%) 61.4 74.1 68.4 60.0 62.0 Hotels 56 64 75 80 80 Employment 5,955 7,005 9,670 10,388 12,000 *Predictions. ----------------------- --------------------------------------------- Source: Ministry of Tourism, M auritius Government Tourist Office ---------------------------------------- ---------------------------- The Financial Times London Page VI ============= Transaction # 35 ============================================== Transaction #: 35 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-9708 _AN-DKIC6AF4FT 9311 09 FT 09 NOV 93 / Survey of Australia (2): A place in th e Pacific sun - Tourism By BRUCE JACQUES < TEXT> INTERNATIONAL tourism has emerged from near obscurity to become one of Australia's fastest growing industries in the past decade, but it heads tow ards 1994 in a state of dichotomy. Although the industry is one of the few d efying world recession with solid growth rates, tourism remains hazardous gr ound for investors, writes Bruce Jacques. This reflects a 'two-speed' growth record in the past decade which has left substantial imbalances in infrastr ucture, sapped confidence and increased the perceived risk of tourism invest ment. But there are signs, boosted by Sydney's successful bid to host the 20 00 Olympics, that tourism is set for a period of accelerated new growth. Int ernational tourism burst on to an unsuspecting Australia amid the financial boom of the mid 1980s, with overseas visits jumping nearly 200 per cent to 2 .25m in the half decade to 1988. Figures just released confirm that growth i n the half decade since has been a more modest 28 per cent for visits of jus t under 2.8m in 1992-93. This growth volatility has left some bad investment decisions in its wake. Real estate estimates suggest that almost 10 per cen t of the nation's three, four and five star accommodation properties are now either in receivership or under the administration of their banks. That is almost 70 properties, covering about 10,000 rooms - enough to give pause to any investor. Several other factors have added to the industry's roller coas ter feel, including: the Federal Government's deregulation of the aviation i ndustry and subsequent heavy losses and rationalisation among the country's airlines; the unique double failure of Compass Airlines - the new market ent rant that was touted as giving meaning to deregulation; and postponement of the public float of Qantas, the country's international carrier, from which the Federal Government hopes to raise more than ADollars 1.5bn. But just as investors were caught by overestimating the industry's growth, there are sig ns that those who continue to retreat will miss the next cycle. Christopher Brown, executive director of tourism's umbrella body, Tourism Task Force, be lieves some hard lessons have been learned. target more rapid growth. 'You h ave to remember we've only been in the international tourism business in a b ig way for just over a decade,' Mr Brown says. 'What we had in the 1980s was a marketing-led rather than product-led boom. Some of our early marketing c ampaigns (notably the Paul Hogan 'shrimp on the barbie' advertisements) were among the best in the world. But events since have shown that the industry wasn't really able to handle the boom in overseas tourists that followed.' M r Brown believes the industry tried to become too sophisticated too early. ' We thought we had achieved worldwide awareness, but we now know we didn't. B ut the result is that, although some of it is under-utilised, we now have so me of the world's best tourism infrastructure.' Mr Brown says that with the Olympics and increased government recognition and funding for tourism, the i ndustry is now targeting an annual rate of around 7.5m overseas arrivals by 2000. The target would have been around 6m without the Olympics, but both ai ms are considerably higher than estimates of 4.8m arrivals by the government funded Bureau of Tourism Research (BTR). While any of these estimates sugge sts strong growth, the industry still has a task ahead in educating investor s. Mr Brown says banks and institutions are still far less adept at assessin g investments in tourism than other sectors. That ranks as a serious oversig ht given the scale of the industry. While tourism is often proudly promoted as Australia's biggest export earner, that description understates its econo mic importance. If the international and domestic tourism components are tak en together, the industry is arguably Australia's biggest. Judging by BTR fi gures, no investment institution of any standing can afford not to have expo sure to the industry. The BTR publication, Tourism and the Economy, calculat ed that tourism accounted for 465,000 jobs, 5.6 per cent of the country's gr oss domestic product and 10 per cent of its foreign exchange earnings in 199 2. The BTR figures showed that domestic tourism expenditure, at ADollars 18. 4bn, was almost 2.4 times the size of its international counterpart at ADoll ars 7.7bn, for respective GDP contributions of 3.8 and 1.8 per cent. Latest estimates suggest that in 1993 domestic tourism expenditure will exceed ADol lars 22bn, with international expenditure rising to ADollars 8.6bn. Perhaps the clincher for the tourism industry in its push for a larger share of inve stment funds lies in Australia's geographic location. Leading stockbrokers A NZ McCaughan (AM) put the case well in a recent publication, urging investme nt in Australian air lines. 'Australia is positioned on the edge of the fast est-growing tourism region in the world - the Asia/Pacific,' AM analysts sai d. 'By the Year 2000, the Asia/Pacific region with a 39 per cent share, is e xpected to dominate the world's international air traffic. 'The other two ma jor regions will be Europe (26 per cent) and North America (23 per cent). Fo r the remainder of the 1990s air travel in the Asia/Pacific region is expect ed to grow by an average 9.4 per cent a year, almost twice as fast as the US (4.9 per cent) and far faster than Europe (5.5 per cent).' AM quoted a BTR break down forecasting that the proportion of Asia/Pacific tourists visiting Australia will rise from 43 to almost 50 per cent by 2000. 'Japan, Asia, th e US and Europe will be the key inbound markets by the year 2000,' AM said. 'The proximity of these countries to Australia, together with relaxation of institutional constraints on travel, .. augurs well for larger visitor numbe rs.' Countries:- AUZ Australia. Industrie s:- P7999 Amusement and Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times L ondon Page I ============= Transaction # 36 ============================================== Transaction #: 36 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-9895 _AN-DKIC6AATFT 9311 09 FT 09 NOV 93 / Castro turns eye to tourism potential By CANUTE JAMES KINGSTON PRESIDENT Fidel Castro of Cuba has said that efforts by the US to isolate the country through an economic embargo are instead isolating US business, which is missing investment opportunities in the Caribbean isla nd. In several weekend statements, Mr Castro also said that Cuban workers we re not efficient enough and praised foreign investors in Cuba for increasing productivity in several sectors, including tourism. He told a group of fore ign businessmen investment opportunities in Cuba were worth many billions of dollars and that tourism alone had the potential for Dollars 20bn (Pounds 1 3.5bn) in new foreign business. Opportunities for foreign investment in Cuba were growing so quickly that there would be 'not one square metre of beach' left for US companies. 'Those who impose a blockade impose a blockade on th emselves,' he said. Speaking to a conference of Communist party delegates, M r Castro said his government was committed to expanding the tourism sector, as it was the only economy activity which could ease Cuba's economic problem s. The Cuban economy has been under severe strain following the break-up of the Soviet Union, the island's former benefactor, and a poor sugar harvest. Countries:- CUZ Cuba, Caribbean. Industri es:- P9721 International Affairs. P9611 Administration of Gene ral Economic Programs. Types:- NEWS General News. The Financial Times London Page 5 ============= Transaction # 37 ============================================== Transaction #: 37 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 32 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: FT923-14231 _AN-CGIA7AATFT 920 709 FT 09 JUL 92 / Japan posts huge May trade surplus By STEVEN BUTLER TOKYO JAPAN POSTED another huge increase in its current account surplu s in May, with the broadest measure of Japan's external trade balance rising by 128 per cent to Dollars 9.49bn (Pounds 4.96bn) compared with a year ago. The trade surplus alone, which excludes invisible items such as tourism, ro se by 85 per cent to Dollars 10.09bn, putting Japan on course for a possible record trade surplus this year. The steep rise in the trade balance resulte d from a 4.6 per cent increase in exports to Dollars 24.8bn and a 19.4 per c ent decline in imports to Dollars 14.7bn. The sharp deterioration in imports will put increased pressure on the government to enact measures that will s timulate the economy and increase domestic demand. Mr Kiichi Miyazawa, prime minister, has told his counterparts at the Munich economic summit that Japa n is committed to a long-term programme to boost domestic demand, and is con sidering measures to increase government spending by between Y6,000bn (Pound s 25bn) and Y7,000bn in the autumn. The government said the steep fall in im ports was accounted for partly by a Dollars 1.2bn decline in purchases of go ld for investment purposes. Exports were boosted by strong automobile and sh ip sales. The trend towards a large trade surplus, however, was expected to continue because of the continuing weakness of the Japanese economy and the expected recovery in the US. The recent rise in the value of the yen also bo osts the value of exports while reducing the value of imports, although in t he long run it should, in theory, stimulate imports while making Japanese go ods less competitive internation-ally. Japan was in May a net exporter of lo ng-term capital, amounting to Dollars 1.89bn, for the second month in a row. The Financial Times London Page 6 ============= Transaction # 38 ============================================== Transaction #: 38 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-9895 _AN-DKIC6AATFT 9311 09 FT 09 NOV 93 / Castro turns eye to tourism potential By CANUTE JAMES KINGSTON PRESIDENT Fidel Castro of Cuba has said that efforts by the US to isolate the country through an economic embargo are instead isolating US business, which is missing investment opportunities in the Caribbean isla nd. In several weekend statements, Mr Castro also said that Cuban workers we re not efficient enough and praised foreign investors in Cuba for increasing productivity in several sectors, including tourism. He told a group of fore ign businessmen investment opportunities in Cuba were worth many billions of dollars and that tourism alone had the potential for Dollars 20bn (Pounds 1 3.5bn) in new foreign business. Opportunities for foreign investment in Cuba were growing so quickly that there would be 'not one square metre of beach' left for US companies. 'Those who impose a blockade impose a blockade on th emselves,' he said. Speaking to a conference of Communist party delegates, M r Castro said his government was committed to expanding the tourism sector, as it was the only economy activity which could ease Cuba's economic problem s. The Cuban economy has been under severe strain following the break-up of the Soviet Union, the island's former benefactor, and a poor sugar harvest. Countries:- CUZ Cuba, Caribbean. Industri es:- P9721 International Affairs. P9611 Administration of Gene ral Economic Programs. Types:- NEWS General News. The Financial Times London Page 5 ============= Transaction # 39 ============================================== Transaction #: 39 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-9708 _AN-DKIC6AF4FT 9311 09 FT 09 NOV 93 / Survey of Australia (2): A place in th e Pacific sun - Tourism By BRUCE JACQUES < TEXT> INTERNATIONAL tourism has emerged from near obscurity to become one of Australia's fastest growing industries in the past decade, but it heads tow ards 1994 in a state of dichotomy. Although the industry is one of the few d efying world recession with solid growth rates, tourism remains hazardous gr ound for investors, writes Bruce Jacques. This reflects a 'two-speed' growth record in the past decade which has left substantial imbalances in infrastr ucture, sapped confidence and increased the perceived risk of tourism invest ment. But there are signs, boosted by Sydney's successful bid to host the 20 00 Olympics, that tourism is set for a period of accelerated new growth. Int ernational tourism burst on to an unsuspecting Australia amid the financial boom of the mid 1980s, with overseas visits jumping nearly 200 per cent to 2 .25m in the half decade to 1988. Figures just released confirm that growth i n the half decade since has been a more modest 28 per cent for visits of jus t under 2.8m in 1992-93. This growth volatility has left some bad investment decisions in its wake. Real estate estimates suggest that almost 10 per cen t of the nation's three, four and five star accommodation properties are now either in receivership or under the administration of their banks. That is almost 70 properties, covering about 10,000 rooms - enough to give pause to any investor. Several other factors have added to the industry's roller coas ter feel, including: the Federal Government's deregulation of the aviation i ndustry and subsequent heavy losses and rationalisation among the country's airlines; the unique double failure of Compass Airlines - the new market ent rant that was touted as giving meaning to deregulation; and postponement of the public float of Qantas, the country's international carrier, from which the Federal Government hopes to raise more than ADollars 1.5bn. But just as investors were caught by overestimating the industry's growth, there are sig ns that those who continue to retreat will miss the next cycle. Christopher Brown, executive director of tourism's umbrella body, Tourism Task Force, be lieves some hard lessons have been learned. target more rapid growth. 'You h ave to remember we've only been in the international tourism business in a b ig way for just over a decade,' Mr Brown says. 'What we had in the 1980s was a marketing-led rather than product-led boom. Some of our early marketing c ampaigns (notably the Paul Hogan 'shrimp on the barbie' advertisements) were among the best in the world. But events since have shown that the industry wasn't really able to handle the boom in overseas tourists that followed.' M r Brown believes the industry tried to become too sophisticated too early. ' We thought we had achieved worldwide awareness, but we now know we didn't. B ut the result is that, although some of it is under-utilised, we now have so me of the world's best tourism infrastructure.' Mr Brown says that with the Olympics and increased government recognition and funding for tourism, the i ndustry is now targeting an annual rate of around 7.5m overseas arrivals by 2000. The target would have been around 6m without the Olympics, but both ai ms are considerably higher than estimates of 4.8m arrivals by the government funded Bureau of Tourism Research (BTR). While any of these estimates sugge sts strong growth, the industry still has a task ahead in educating investor s. Mr Brown says banks and institutions are still far less adept at assessin g investments in tourism than other sectors. That ranks as a serious oversig ht given the scale of the industry. While tourism is often proudly promoted as Australia's biggest export earner, that description understates its econo mic importance. If the international and domestic tourism components are tak en together, the industry is arguably Australia's biggest. Judging by BTR fi gures, no investment institution of any standing can afford not to have expo sure to the industry. The BTR publication, Tourism and the Economy, calculat ed that tourism accounted for 465,000 jobs, 5.6 per cent of the country's gr oss domestic product and 10 per cent of its foreign exchange earnings in 199 2. The BTR figures showed that domestic tourism expenditure, at ADollars 18. 4bn, was almost 2.4 times the size of its international counterpart at ADoll ars 7.7bn, for respective GDP contributions of 3.8 and 1.8 per cent. Latest estimates suggest that in 1993 domestic tourism expenditure will exceed ADol lars 22bn, with international expenditure rising to ADollars 8.6bn. Perhaps the clincher for the tourism industry in its push for a larger share of inve stment funds lies in Australia's geographic location. Leading stockbrokers A NZ McCaughan (AM) put the case well in a recent publication, urging investme nt in Australian air lines. 'Australia is positioned on the edge of the fast est-growing tourism region in the world - the Asia/Pacific,' AM analysts sai d. 'By the Year 2000, the Asia/Pacific region with a 39 per cent share, is e xpected to dominate the world's international air traffic. 'The other two ma jor regions will be Europe (26 per cent) and North America (23 per cent). Fo r the remainder of the 1990s air travel in the Asia/Pacific region is expect ed to grow by an average 9.4 per cent a year, almost twice as fast as the US (4.9 per cent) and far faster than Europe (5.5 per cent).' AM quoted a BTR break down forecasting that the proportion of Asia/Pacific tourists visiting Australia will rise from 43 to almost 50 per cent by 2000. 'Japan, Asia, th e US and Europe will be the key inbound markets by the year 2000,' AM said. 'The proximity of these countries to Australia, together with relaxation of institutional constraints on travel, .. augurs well for larger visitor numbe rs.' Countries:- AUZ Australia. Industrie s:- P7999 Amusement and Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times L ondon Page I ============= Transaction # 40 ============================================== Transaction #: 40 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-9708 _AN-DKIC6AF4FT 9311 09 FT 09 NOV 93 / Survey of Australia (2): A place in th e Pacific sun - Tourism By BRUCE JACQUES < TEXT> INTERNATIONAL tourism has emerged from near obscurity to become one of Australia's fastest growing industries in the past decade, but it heads tow ards 1994 in a state of dichotomy. Although the industry is one of the few d efying world recession with solid growth rates, tourism remains hazardous gr ound for investors, writes Bruce Jacques. This reflects a 'two-speed' growth record in the past decade which has left substantial imbalances in infrastr ucture, sapped confidence and increased the perceived risk of tourism invest ment. But there are signs, boosted by Sydney's successful bid to host the 20 00 Olympics, that tourism is set for a period of accelerated new growth. Int ernational tourism burst on to an unsuspecting Australia amid the financial boom of the mid 1980s, with overseas visits jumping nearly 200 per cent to 2 .25m in the half decade to 1988. Figures just released confirm that growth i n the half decade since has been a more modest 28 per cent for visits of jus t under 2.8m in 1992-93. This growth volatility has left some bad investment decisions in its wake. Real estate estimates suggest that almost 10 per cen t of the nation's three, four and five star accommodation properties are now either in receivership or under the administration of their banks. That is almost 70 properties, covering about 10,000 rooms - enough to give pause to any investor. Several other factors have added to the industry's roller coas ter feel, including: the Federal Government's deregulation of the aviation i ndustry and subsequent heavy losses and rationalisation among the country's airlines; the unique double failure of Compass Airlines - the new market ent rant that was touted as giving meaning to deregulation; and postponement of the public float of Qantas, the country's international carrier, from which the Federal Government hopes to raise more than ADollars 1.5bn. But just as investors were caught by overestimating the industry's growth, there are sig ns that those who continue to retreat will miss the next cycle. Christopher Brown, executive director of tourism's umbrella body, Tourism Task Force, be lieves some hard lessons have been learned. target more rapid growth. 'You h ave to remember we've only been in the international tourism business in a b ig way for just over a decade,' Mr Brown says. 'What we had in the 1980s was a marketing-led rather than product-led boom. Some of our early marketing c ampaigns (notably the Paul Hogan 'shrimp on the barbie' advertisements) were among the best in the world. But events since have shown that the industry wasn't really able to handle the boom in overseas tourists that followed.' M r Brown believes the industry tried to become too sophisticated too early. ' We thought we had achieved worldwide awareness, but we now know we didn't. B ut the result is that, although some of it is under-utilised, we now have so me of the world's best tourism infrastructure.' Mr Brown says that with the Olympics and increased government recognition and funding for tourism, the i ndustry is now targeting an annual rate of around 7.5m overseas arrivals by 2000. The target would have been around 6m without the Olympics, but both ai ms are considerably higher than estimates of 4.8m arrivals by the government funded Bureau of Tourism Research (BTR). While any of these estimates sugge sts strong growth, the industry still has a task ahead in educating investor s. Mr Brown says banks and institutions are still far less adept at assessin g investments in tourism than other sectors. That ranks as a serious oversig ht given the scale of the industry. While tourism is often proudly promoted as Australia's biggest export earner, that description understates its econo mic importance. If the international and domestic tourism components are tak en together, the industry is arguably Australia's biggest. Judging by BTR fi gures, no investment institution of any standing can afford not to have expo sure to the industry. The BTR publication, Tourism and the Economy, calculat ed that tourism accounted for 465,000 jobs, 5.6 per cent of the country's gr oss domestic product and 10 per cent of its foreign exchange earnings in 199 2. The BTR figures showed that domestic tourism expenditure, at ADollars 18. 4bn, was almost 2.4 times the size of its international counterpart at ADoll ars 7.7bn, for respective GDP contributions of 3.8 and 1.8 per cent. Latest estimates suggest that in 1993 domestic tourism expenditure will exceed ADol lars 22bn, with international expenditure rising to ADollars 8.6bn. Perhaps the clincher for the tourism industry in its push for a larger share of inve stment funds lies in Australia's geographic location. Leading stockbrokers A NZ McCaughan (AM) put the case well in a recent publication, urging investme nt in Australian air lines. 'Australia is positioned on the edge of the fast est-growing tourism region in the world - the Asia/Pacific,' AM analysts sai d. 'By the Year 2000, the Asia/Pacific region with a 39 per cent share, is e xpected to dominate the world's international air traffic. 'The other two ma jor regions will be Europe (26 per cent) and North America (23 per cent). Fo r the remainder of the 1990s air travel in the Asia/Pacific region is expect ed to grow by an average 9.4 per cent a year, almost twice as fast as the US (4.9 per cent) and far faster than Europe (5.5 per cent).' AM quoted a BTR break down forecasting that the proportion of Asia/Pacific tourists visiting Australia will rise from 43 to almost 50 per cent by 2000. 'Japan, Asia, th e US and Europe will be the key inbound markets by the year 2000,' AM said. 'The proximity of these countries to Australia, together with relaxation of institutional constraints on travel, .. augurs well for larger visitor numbe rs.' Countries:- AUZ Australia. Industrie s:- P7999 Amusement and Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times L ondon Page I ============= Transaction # 41 ============================================== Transaction #: 41 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT942-10654 _AN-EEJC9ABMFT 940 510 FT 10 MAY 94 / World Trade News: Scheme to increase tourist arrivals By SHIRAZ SIDHVA NEW DELHI The Indian government has launched a tour ism promotion programme to increase the number of foreign visitors from 1.76 m to 5m over three years. A calmer political climate and further opening up of the economy have led to an increase in tourist arrivals, to 1.76m from 1. 5m the previous year. Foreign exchange earnings from tourism increased by 14 per cent to Dollars 1.47bn for 1993-94, according to figures published by t he Ministry of Tourism and Civil Aviation. Mr Ghulam Nabi Azad, tourism mini ster, said Bombay airport, the country's prime entry point, alone handled 16 4,000 domestic and international flights, an increase of more than 150 per c ent in a decade. Liberalisation of domestic routes last year helped ease bot h congestion and non-availability of seats on flights within the country. To urism is India's third-largest foreign exchange earner, and has more of a ra nge of destinations to offer than most countries in the world. But the count ry accounts for 0.2 per cent of international tourism, largely because of in adequate infrastructure. Officials in the Tourism Ministry say a big constra int is a lack of middle-level hotels. 'The choice we offer the foreign touri st is limited,' said a senior official. The foreign tourist must choose betw een expensive five-star comfort or small hotels that cater to backpackers an d lack the most basic of amenities. 'Our plan is to offer something to the t ourist between the very wealthy ones and the business travellers, and those who have very little money to spend.' Foreign hotel chains are enthusiastic about the more relaxed investment rules after liberalisation (the hotel indu stry has always been dominated by private companies), and are flocking to In dia with joint ventures. The government estimates that foreign investment is worth at least Dollars 250m (Pounds 168m) in the hotel industry. The Austra lian Southern Pacific hotels plans to start a series of three-star travel lo dges in main cities. The Oberoi group is linking with Accor of France to sta rt a network of motels across the country. Kamats, a chain of south Indian r estaurants, is linking with the Japanese Dai Ici and Pearl Hotels, to offer budget accommodation at Buddhist pilgrimage destinations. The Indian Taj Gro up, which operates some of India's finest hotels, plans a 350-room hotel in Bombay to supplement its famous Taj Mahal, and a series of Club Med resorts in association with the French company. And a group of non-resident Indians has got together with the Irish company, Deltic Management, to build a Rs8.7 bn (Pounds 186m) 600-room floating luxury hotel in Bombay. Coun tries:- INZ India, Asia. Industries:- P9611 Administration of General Economic Programs. Types:- GO VT Government News. The Financial Times London Pag e 6 ============= Transaction # 42 ============================================== Transaction #: 42 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-14219 _AN-CGIA7AA5FT 920 709 FT 09 JUL 92 / Rise in value of Scottish tourism THE TOTAL value of tourism to Scotland increased by 5 per ce nt last year to Pounds 1.74bn, according to the Scottish Tourist Board's ann ual report, published yesterday. More than 185,000 people rely on tourism in Scotland for their livelihood. The Financial Times London Page 8 ============= Transaction # 43 ============================================== Transaction #: 43 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-12936 _AN-EGVDMABVFT 940 722 FT 22 JUL 94 / D-Day events boost tourism earnings < /HEADLINE> By DAVID OWEN This summer's D-Day co mmemoration may have increased Britain's tourism earnings from North America by as much as Pounds 73m, according to Mr Iain Sproat, national heritage mi nister. He said in a Commons written answer that early indications suggested the event had attracted between 75,000 and 125,000 extra North American vis itors to the UK. This had increased the country's earnings from tourism by ' between Pounds 44m and Pounds 73m', he said. Both the number of visitors and the amount of visitor spending were 'substantially' higher than forecast. E arlier this year, Mr John Major was forced to defuse an embarrassing row ove r the nature of the 50th anniversary commemoration by bowing to veterans' de mands for a bigger say in the events. There had been widespread criticism of the national heritage department's handling of the anniversary. Countries:- GBZ United Kingdom, EC. Industries:- P9611 Administration of General Economic Programs. Types:- NEWS General News. The Financial Times London Page 9 ============= Transaction # 44 ============================================== Transaction #: 44 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-3827 _AN-DFKB5AHEFT 9306 11 FT 11 JUN 93 / Survey of South Africa (17): Dressed u p with nowhere to go - The problems facing the tourist industry By PHILIP GAWITH THE PROBLEM facing the South A frican tourism industry was aptly illustrated last month by the state presid ent, Mr FW de Klerk, when he opened the Indaba, the annual tourism marketing forum, in Durban. He started his speech by quoting a famous passage from Al an Paton's novel Cry the Beloved Country, the most well known book written a bout South Africa: 'There is a lovely road that runs from Ixopo into the hil ls. These hills are grass covered and rolling and they are lovely beyond the singing of it.' As Mr de Klerk noted, Ixopo is not far from Durban. Sadly, 'those same rolling hills, and some other parts of our country are now scene s of violence'. Having shaken off the stigma of apartheid, the tourism indus try now finds itself saddled with the stigma of violence. That is the percep tion: it matters little that most of the country is untouched by violence. A lthough figures supplied by the South African Tourism Board (Satour) show th at foreign visitors increased last year by 7.4 per cent to 560,000 (excludin g 2.1m visitors from Africa), this was a long way short of the 20 per cent g rowth hoped for. The Indaba itself provided confirmation of hard times in th e industry. The corridors of the huge exhibition hall were hardly bustling a nd many participants said business was quiet. It was very much a case of an industry all dressed up with nowhere to go. To be fair, economic recession i s also an important factor. Indeed, some in the trade argue that it is a mor e important determinant of business activity than violence. One such person was Mr Nick Seewer, general manager of the prestigious Mount Nelson hotel in Cape Town. He said the hotel was doing very well, had had its best April in years, and summer bookings were good. He made the point that seasoned trave llers, of the sort that frequent his sort of establishment, know South Afric a and are not easily put off. Lower down the market, however, the pinch is b eing felt. Mr Helder Pereira, operations director of Southern Suns, the coun try's largest hotel group, confirms a 25 per cent increase in cancellations after the assassination in April of Chris Hani, the black political leader. Whether stability will bring the riches the industry feels it deserves - 'ou r fair share of the market' - is another matter. Tourism only accounts for a bout 2 per cent of South Africa's GDP compared to an international average o f 6 per cent. Clearly there is enormous potential for growth given that the quality of the product is not in dispute, and Satour has set targets of 966, 000 annual foreign visitors by 1995 and 1.75m by 2000. Stability alone, howe ver, will not see these targets realised. Recent surveys show declining cons umer satisfaction in areas such as 'value for money' and service. These shor tcomings need to be rectified if South Africa is to establish itself as a co mpetitive, user-friendly destination. On the other hand, tourism can only be nefit from the increased priority it now enjoys with government. A new minis try, solely responsible for tourism, has been established; a White Paper, ou tlining the development of the industry has been published and deregulation continues (evident in the dramatic increase in the number of international c arriers flying to the country, from 19 in 1990 to 36 in 1993). All these ste ps augur well for the future. Countries:- ZAZ South Africa, Africa. Industries:- P7011 Hotels and Motels. P7999 Amusement and Recreation, NEC. P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. The Financial Times London Page VIII ============= Transaction # 45 ============================================== Transaction #: 45 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-13940 _AN-CGJA7ACSFT 920 710 FT 10 JUL 92 / International Company News: Kaufhof p rofits set to rise 20% By ANDREW FISHER FRANKFURT PROFITS at Kaufhof, the German reta iling group, should rise by at least 20 per cent this year, despite the more difficult trading climate, Mr Jens Odewald, chief executive, told the annua l meeting. Kaufhof, which has expanded beyond department stores into special ist outlets and tourism, has benefited considerably from the increased busin ess opportunities opened up by German unification. Last year, its net profit s rose by 38 per cent to DM166m (Dollars 102m). Turnover was up by 21.5 per cent to DM17.8bn, though the increase would have been only 12 per cent witho ut the new business in eastern Germany, where thegroup has invested nearly D M400m. However, the west German economy has slowed down recently and consume rs have had to bear higher direct and indirect taxes to help pay for unity. Mr Odewald said Kaufhof's turnover in the first half was 13 per cent higher at DM8.9bn, a growth rate with which it was 'not unsatisfied'. He said the g roup's aim in coming years was to grow at twice the rate of the retail secto r. In tourism, he expected turnover to grow by around 30 per cent this year. Fresenius, the drugs and medical technology group, yesterday forecast incre ased profits for this year and announced plans for a DM174m rights issue. Th e share offer is on a one-for-three basis at DM440 a share. The company said its business in the current year was running positively, and that it expect ed growth in turnover of more than 10 per cent to around DM1.5bn plus an imp rovement in net profit. After-tax profits in 1991 totalled DM15.9m. The Financial Times London Page 24 ============= Transaction # 46 ============================================== Transaction #: 46 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-4468 _AN-EIHDIAFVFT 9409 08 FT 08 SEP 94 / International Company News: Increased tourism lifts Air New Zealand profit By TERRY HALL < /BYLINE> WELLINGTON Air New Zealand lifted tax-paid profits by 36.6 per cent to NZDollars 190.7m (USDollars 115.1m) in the year to end-June due to a stronger tourism market, particularly with vis itors from Asia. The company said yesterday it was confident of further grow th during the coming year with the continuing development of its Asia and Pa cific networks, together with opportunities provided by marketing ofagreemen ts with Australia. Air New Zealand is using Brisbane as a hub for many of it s services to Asia. Group operating revenue rose by 11 per cent to NZDollars 2.6bn of which NZDollars 215m was increased passenger revenue. Group cash f low from operating revenues rose 64.6 per cent to NZDollars 425m. Total asse ts were up by NZDollars 95.4m to NZDollars 2.86bn. Directors are recommendin g a final dividend of 8 cents a share, making a total of 14 cents for the ye ar, up 4 cents on last year. Companies:- Air New Zeal and. Countries:- NZZ New Zealand. Industrie s:- P4512 Air Transportation, Scheduled. Types:- FIN Annual report. The Financial Times London Page 35 ============= Transaction # 47 ============================================== Transaction #: 47 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT942-7348 _AN-EEZDOABMFT 9405 26 FT 26 MAY 94 / World Trade News: Cuba sets Dollars 1b n tourism target By CANUTE JAMES KINGSTON The Cuban government has set new targets wh ich indicate expectations of a significant expansion in tourism over the nex t two years, writes Canute James in Kingston. It is expecting gross income f rom the sector to reach Dollars 900m (Pounds 600) this year and Dollars 1bn next year, Mr Osmany Cienfuegos, the tourism minister, told a recent confere nce on Cuban tourism. Gross income from the sector last year was Dollars 720 m, of which about one third represented net earnings. The government is hopi ng the volume of visitors will reach 1m by 1996, double last year's volume, the minister said. The island's stock of hotel rooms is being increased to m eet the growth in visitor arrivals, with foreign investors involved in the c onstruction and rehabilitation of 7,000 rooms. The expansion in capacity sho uld lift the number of rooms to 50,000 by the year 2000, he said. Countries:- CUZ Cuba, Caribbean. Industries:- P9611 Administration of General Economic Programs. P79 Amusement and Recreation Services. Types:- ECON Economic Indicat ors. RES Facilities. The Financial Times Londo n Page 8 ============= Transaction # 48 ============================================== Transaction #: 48 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 20 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: FT944-1609 _AN-ELSDLAFKFT 9412 19 FT 19 DEC 94 / Survey of Sweden (7): Growing rapidly - Tourism By KAREN FOSSLI Tourism i s one of Sweden's fastest-growing sectors and, although the trade is relativ ely young, ranks as the country's third-largest industry, generating annual turnover of an estimated SKr98bn of which SKr21bn is derived from foreign to urists. The attraction of Sweden has to be, among many things, the country's unspoilt environment and alluring scenery comprising 60,000 islands, 90,000 lakes, a 4,725-mile coastline and endless forests. There are also 350 museu ms in the country and a wide variety of special events throughout the year. The tourist industry peaked in 1989 when turnover hit SKr100bn, but nose-div ed by nearly SKr80bn during 1990-91 when the then Social Democratic governme nt led by Mr Ingvar Carlsson, increased value added tax on tourism to 25 per cent in two stages. The VAT increase coincided with the onset of the deepes t recession to hit Sweden since the second world war. But the industry recov ered during 1991-93 after a new conservative Moderate government, led by Mr Carl Bildt, reorganised the marketing of tourism and cut VAT to 12 per cent. These factors were aided by the start of a recovery in the economy which be gan at the end of 1993. Nevertheless, even after the rate cut, Sweden's VAT remains significantly higher than the European average. The Swedes argue vig orously that prices in their country have become competitive with the rest o f Europe while a main priority of marketing seeks to dispel 'the myth' that Sweden is far too expensive to be considered a holiday destination by more t han just the elite. 'Surveys show that many foreigners still believe that Sw eden is too expensive. Heavy resources are therefore being invested in marke ting Sweden abroad,' the Swedish Trade Council said in its 1994 annual repor t on the country. In the first nine months of this year, the number of overn ight stays in Swedish hotels by foreigners rose 13 per cent compared with th e year-earlier period, and industry executives are predicting that 1994 will be a record year in terms of growth. Last year, foreigners' overnight stays alone reached 6.1m. During the first nine months of 1994, Dutch and Danish tourists accounted for the highest growth rate in overnight stays in percent age terms, rising respectively 25 per cent and 26 per cent while US visitors rose by 14 per cent. German tourists, the largest group of foreign visitors to Sweden, increased their overnight stays by 13 per cent and UK tourists 1 1 per cent. Another indication of the strength of this year's activity is a forecast rise in the number of cruise ship passengers calling on Stockholm a lone. It is estimated that international cruise ships will make 125 visits t o the capital city this year, carrying a total of 70,000 passengers, represe nting an increase of 10,000 passengers over 1993. Mr Per-Johann Orrby, presi dent of Next Stop Sweden (NSS), the Swedish Travel and Tourist Council, attr ibutes the rise in tourism's fortunes partly to Sweden's attractive prices - in foreign currency terms - since the krona was devalued by nearly 30 per c ent in 1992. The reduction of VAT and a slight recovery of the economy are a lso considered significant. NSS reckons that sterling buys 15 per cent more in Sweden since the devaluation, while the purchasing power of the US dollar has risen 18 per cent and the German mark 30 per cent. But the Swedes proba bly also have their next-door Nordic neighbours to thank for foreign interes t, following Norway's success in arranging the Winter Olympics earlier this year. For more than two weeks in February, hours and hours of pristine, sunl it 'Scandinavian' winter images were broadcast worldwide from Lillehammer in Norway. Such coverage undoubtedly had a spill-over affect for Sweden and mu st have improved the country's standing as a tourist destination. The Olympi cs boosted Norway's tourist industry by as much as 5 per cent this year but it would be difficult to quantify the effect it had on Swedish tourism. Acco rding to Mr Jan Brannstrom, managing director of Image Sweden, the state-bac ked agency which promotes Sweden internationally, recent studies revealed th at about half the foreign tourists visiting Sweden do so as part of a Scandi navian tour. But, he said, there were no plans for a joint Scandinavian tour ism marketing effort and, in the long-run, he saw few, if any, benefits from such a scheme. Another important factor which has undoubtedly lifted the aw areness of Sweden abroad is the apparent success of the big overhaul of the organisational structure of marketing services for tourism. The Swedish Tour ist Board was dismantled and Image Sweden established together with NSS. Ima ge Sweden purchases marketing services from NSS for an estimated NKr60m annu ally. Countries:- SEZ Sweden, West Europe. Industries:- P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. The Financ ial Times London Page IV ============= Transaction # 49 ============================================== Transaction #: 49 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT921-15886 _AN-CAHBJAAPFT 920 108 FT 08 JAN 92 / Survey of Kenya (16): Strategies for all seasons - Tourism, from potential disaster to mild success < BYLINE> By JULIAN OZANNE THE worldwide downturn in touri sm last year, fuelled by the Gulf crisis, the international economic recessi on and the escalating costs of air travel, has proved a watershed in Kenya. Kenya's dynamic tourism industry, although faced by the prospect of a severe loss of jobs and hard currency in what is its biggest foreign exchange earn ing sector, has turned 1991 from being a potential disaster into a mild succ ess. The private sector and the government, with cancellations running at up to 60 per cent for the peak season of January to March, rallied with a seri es of measures. The boldest move by government was the decision to open up K enya to South African tourists, several months before the October Commonweal th head of government conference in Harare. Visas, previously denied to Sout h Africans, were granted at the airport and an agreement was reached to allo w South African Airways and Kenya Airways to operate one flight each a week between Nairobi and Johannesburg. The government also gave new incentives to the hotel training college, established an autonomous airports authority an d started the rehabilitation of Nairobi's international airport and continue d to strengthen the newly-created Kenya Wildlife Service, a semi-autonomous parastatal in charge of security and management in Kenya's national parks. T he private sector moved quickly, reducing rates and increasing charter fligh ts, particularly from Spain and Britain. In August and September there were 42 such flights a week arriving in Kenya, each with about 200 seats, in addi tion to scheduled flights. These measures appear to have averted a slump in tourist arrivals which in 1990 nearly reached 900,000 people, while foreign exchange earnings last year should approach the 1990 level of Dollars 467m. Sustaining the remarkable growth which Kenya's tourist sector has enjoyed si nce independence will not be easy. Since 1963 the numbers of visitors a year have increased from 110,000 to 889,000 in 1990 and foreign exchange earning s in the same period have mushroomed from Dollars 25m to Dollars 467m. In 19 87, tourism overtook coffee as the country's number one foreign exchange ear ner. The impact on the rest of the economy has been vast. Throughout the las t decade employment in the sector has grown by at least 5 per cent a year an d tourism has contributed to the expansion of the services sector - hotels, restaurants, road and air transport - and to allied industries such as const ruction and food. Much of the rapid growth in tourism in the past quarter of a century has been due to declining costs of air travel and the extensive i nfrastructure which was in place at independence. The government has created a reasonably attractive enabling environment through welcoming foreign inve stment in tourism, the development of infrastructure and the maintenance of relative political stability. Increasing importance has been given to conser vation and better animal management and while the national parks and reserve s sector was marred by a long period of poaching and inefficiency between 19 76-88 it has become a top priority. However, with mounting regional competit ion and the demands of the growing population a much greater effort is requi red. In order to continue generating jobs and increasing critical foreign ex change earnings the government has recognised the need to creat a better env ironment. Mr Philemon Mwaisaka, permanent secretary in the Ministry of Touri sm, says the government is targeting two key areas for growth over the next three years: diversifying the type of tourism available and drawing in visit ors from new markets. Diversification away from game parks and beaches will depend on giving greater importance to attractions such as cultural, confere nce and speciality tourism, scuba diving, fishing or mountaineering, and ope ning up new areas of Kenya to tourist development such as the volcanic deser t around Lake Turkana. Attracting visitors from outside the traditional mark ets of the US and Europe will require a big publicity drive in the Asia Paci fic area, particularly Japan and Singapore. In order to realise both ambitio ns a overhaul of Kenya's hitherto weak overseas marketing is necessary. So f ar the government has been content to leave most of the marketing to the pri vate sector. Unlike many other countries Kenya does not have an autonomous t ourist board. Between 1986 and 1990 the government spent a mere Dollars 25m on marketing. Kenya's well organised private sector has been lobbying hard f or a tourist board to be set up under an autonomous director to launch a con certed marketing campaign of research, information gathering and publicity t o enable the industry to better tailor and target their products in a compet itive market. The government has given its blessing to the appeal but progre ss appears slow. Good marketing and closer links with airlines will be vital to attract the high income from the choosy Japanese market. Plans for Kenya Airways to open up a route to Bangkok next year may prove insufficient to p enetrate Asia and South Africa is proving a formidable competitor with Singa pore Airlines operating a flight to Johannesburg. A number of issues need th e government's urgent attention. Problem areas include privatisation of gove rnment share holdings in hotels, developing a strategy for high income VIP t ourism, planning how to cope with the growing demand for combination tourism with tourists visiting at least two African countries, better harmonisation of visa and health requirements and more incentives, such as import duty ex emption on vehicles for the tourist sector. ------------------------------- ---------------------- TOURISM PROFILE ------------------------------------ ----------------- Total Total Aver. length rec eipts (Dollars m) visitors of stay (days) 1965 30.2 14 7,400 9.3 1970 51.8 326,500 8.8 1980 222.4 362,700 15.7 1985 239.8 541,200 15. 9 1987 354.9 662,100 16.0 1988 393.3 676,900 16.0 1989 417.0 729,700 14.2 1990 467 .0 (est) 889,000 (est) na ----------------------------------------- ------------ Source: Ministry of Tourism ---------------------------------- ------------------- The Financial Times London Pa ge VIII Map (Omitted). Table ============= Transaction # 50 ============================================== Transaction #: 50 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-9708 _AN-DKIC6AF4FT 9311 09 FT 09 NOV 93 / Survey of Australia (2): A place in th e Pacific sun - Tourism By BRUCE JACQUES < TEXT> INTERNATIONAL tourism has emerged from near obscurity to become one of Australia's fastest growing industries in the past decade, but it heads tow ards 1994 in a state of dichotomy. Although the industry is one of the few d efying world recession with solid growth rates, tourism remains hazardous gr ound for investors, writes Bruce Jacques. This reflects a 'two-speed' growth record in the past decade which has left substantial imbalances in infrastr ucture, sapped confidence and increased the perceived risk of tourism invest ment. But there are signs, boosted by Sydney's successful bid to host the 20 00 Olympics, that tourism is set for a period of accelerated new growth. Int ernational tourism burst on to an unsuspecting Australia amid the financial boom of the mid 1980s, with overseas visits jumping nearly 200 per cent to 2 .25m in the half decade to 1988. Figures just released confirm that growth i n the half decade since has been a more modest 28 per cent for visits of jus t under 2.8m in 1992-93. This growth volatility has left some bad investment decisions in its wake. Real estate estimates suggest that almost 10 per cen t of the nation's three, four and five star accommodation properties are now either in receivership or under the administration of their banks. That is almost 70 properties, covering about 10,000 rooms - enough to give pause to any investor. Several other factors have added to the industry's roller coas ter feel, including: the Federal Government's deregulation of the aviation i ndustry and subsequent heavy losses and rationalisation among the country's airlines; the unique double failure of Compass Airlines - the new market ent rant that was touted as giving meaning to deregulation; and postponement of the public float of Qantas, the country's international carrier, from which the Federal Government hopes to raise more than ADollars 1.5bn. But just as investors were caught by overestimating the industry's growth, there are sig ns that those who continue to retreat will miss the next cycle. Christopher Brown, executive director of tourism's umbrella body, Tourism Task Force, be lieves some hard lessons have been learned. target more rapid growth. 'You h ave to remember we've only been in the international tourism business in a b ig way for just over a decade,' Mr Brown says. 'What we had in the 1980s was a marketing-led rather than product-led boom. Some of our early marketing c ampaigns (notably the Paul Hogan 'shrimp on the barbie' advertisements) were among the best in the world. But events since have shown that the industry wasn't really able to handle the boom in overseas tourists that followed.' M r Brown believes the industry tried to become too sophisticated too early. ' We thought we had achieved worldwide awareness, but we now know we didn't. B ut the result is that, although some of it is under-utilised, we now have so me of the world's best tourism infrastructure.' Mr Brown says that with the Olympics and increased government recognition and funding for tourism, the i ndustry is now targeting an annual rate of around 7.5m overseas arrivals by 2000. The target would have been around 6m without the Olympics, but both ai ms are considerably higher than estimates of 4.8m arrivals by the government funded Bureau of Tourism Research (BTR). While any of these estimates sugge sts strong growth, the industry still has a task ahead in educating investor s. Mr Brown says banks and institutions are still far less adept at assessin g investments in tourism than other sectors. That ranks as a serious oversig ht given the scale of the industry. While tourism is often proudly promoted as Australia's biggest export earner, that description understates its econo mic importance. If the international and domestic tourism components are tak en together, the industry is arguably Australia's biggest. Judging by BTR fi gures, no investment institution of any standing can afford not to have expo sure to the industry. The BTR publication, Tourism and the Economy, calculat ed that tourism accounted for 465,000 jobs, 5.6 per cent of the country's gr oss domestic product and 10 per cent of its foreign exchange earnings in 199 2. The BTR figures showed that domestic tourism expenditure, at ADollars 18. 4bn, was almost 2.4 times the size of its international counterpart at ADoll ars 7.7bn, for respective GDP contributions of 3.8 and 1.8 per cent. Latest estimates suggest that in 1993 domestic tourism expenditure will exceed ADol lars 22bn, with international expenditure rising to ADollars 8.6bn. Perhaps the clincher for the tourism industry in its push for a larger share of inve stment funds lies in Australia's geographic location. Leading stockbrokers A NZ McCaughan (AM) put the case well in a recent publication, urging investme nt in Australian air lines. 'Australia is positioned on the edge of the fast est-growing tourism region in the world - the Asia/Pacific,' AM analysts sai d. 'By the Year 2000, the Asia/Pacific region with a 39 per cent share, is e xpected to dominate the world's international air traffic. 'The other two ma jor regions will be Europe (26 per cent) and North America (23 per cent). Fo r the remainder of the 1990s air travel in the Asia/Pacific region is expect ed to grow by an average 9.4 per cent a year, almost twice as fast as the US (4.9 per cent) and far faster than Europe (5.5 per cent).' AM quoted a BTR break down forecasting that the proportion of Asia/Pacific tourists visiting Australia will rise from 43 to almost 50 per cent by 2000. 'Japan, Asia, th e US and Europe will be the key inbound markets by the year 2000,' AM said. 'The proximity of these countries to Australia, together with relaxation of institutional constraints on travel, .. augurs well for larger visitor numbe rs.' Countries:- AUZ Australia. Industrie s:- P7999 Amusement and Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times L ondon Page I ============= Transaction # 51 ============================================== Transaction #: 51 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-9895 _AN-DKIC6AATFT 9311 09 FT 09 NOV 93 / Castro turns eye to tourism potential By CANUTE JAMES KINGSTON PRESIDENT Fidel Castro of Cuba has said that efforts by the US to isolate the country through an economic embargo are instead isolating US business, which is missing investment opportunities in the Caribbean isla nd. In several weekend statements, Mr Castro also said that Cuban workers we re not efficient enough and praised foreign investors in Cuba for increasing productivity in several sectors, including tourism. He told a group of fore ign businessmen investment opportunities in Cuba were worth many billions of dollars and that tourism alone had the potential for Dollars 20bn (Pounds 1 3.5bn) in new foreign business. Opportunities for foreign investment in Cuba were growing so quickly that there would be 'not one square metre of beach' left for US companies. 'Those who impose a blockade impose a blockade on th emselves,' he said. Speaking to a conference of Communist party delegates, M r Castro said his government was committed to expanding the tourism sector, as it was the only economy activity which could ease Cuba's economic problem s. The Cuban economy has been under severe strain following the break-up of the Soviet Union, the island's former benefactor, and a poor sugar harvest. Countries:- CUZ Cuba, Caribbean. Industri es:- P9721 International Affairs. P9611 Administration of Gene ral Economic Programs. Types:- NEWS General News. The Financial Times London Page 5 ============= Transaction # 52 ============================================== Transaction #: 52 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 32 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: FT923-14231 _AN-CGIA7AATFT 920 709 FT 09 JUL 92 / Japan posts huge May trade surplus By STEVEN BUTLER TOKYO JAPAN POSTED another huge increase in its current account surplu s in May, with the broadest measure of Japan's external trade balance rising by 128 per cent to Dollars 9.49bn (Pounds 4.96bn) compared with a year ago. The trade surplus alone, which excludes invisible items such as tourism, ro se by 85 per cent to Dollars 10.09bn, putting Japan on course for a possible record trade surplus this year. The steep rise in the trade balance resulte d from a 4.6 per cent increase in exports to Dollars 24.8bn and a 19.4 per c ent decline in imports to Dollars 14.7bn. The sharp deterioration in imports will put increased pressure on the government to enact measures that will s timulate the economy and increase domestic demand. Mr Kiichi Miyazawa, prime minister, has told his counterparts at the Munich economic summit that Japa n is committed to a long-term programme to boost domestic demand, and is con sidering measures to increase government spending by between Y6,000bn (Pound s 25bn) and Y7,000bn in the autumn. The government said the steep fall in im ports was accounted for partly by a Dollars 1.2bn decline in purchases of go ld for investment purposes. Exports were boosted by strong automobile and sh ip sales. The trend towards a large trade surplus, however, was expected to continue because of the continuing weakness of the Japanese economy and the expected recovery in the US. The recent rise in the value of the yen also bo osts the value of exports while reducing the value of imports, although in t he long run it should, in theory, stimulate imports while making Japanese go ods less competitive internation-ally. Japan was in May a net exporter of lo ng-term capital, amounting to Dollars 1.89bn, for the second month in a row. The Financial Times London Page 6 ============= Transaction # 53 ============================================== Transaction #: 53 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT941-17371 _AN-EAECPABKFT 940 105 FT 05 JAN 94 / World Trade News: Global tourism up 3 .8% By MICHAEL SKAPINKER, Leisure Industries Corresp ondent The number of international tourist arrivals worldwi de last year was about 500m, a 3.8 per cent increase over 1992, according to the World Tourism Organisation, writes Michael Skapinker, Leisure Industrie s Correspondent. International tourism receipts rose by 9 per cent to Dollar s 324bn (Pounds 219bn). The East Asian and Pacific region recorded the highe st level of growth last year, with arrivals up 11.8 per cent to 68.5m. Touri st receipts in the region rose 15.2 per cent to Dollars 52.6bn. The Americas recorded the second highest growth, with arrivals up 5.6 per cent to 106.5m and receipts up 14.3 per cent to Dollars 95.5bn. Europe remained the world' s largest tourist destination, with 296.5m arrivals last year and receipts o f Dollars 162.6bn. This represented growth over 1992 of 2.1 per cent and 5.7 per cent respectively. Countries:- XBZ North Americ a. XEZ South America. XGZ Europe. XOZ Asia. Indust ries:- P7999 Amusement and Recreation, NEC. Types:- NEWS General News. The Financial Times Lond on Page 4 ============= Transaction # 54 ============================================== Transaction #: 54 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 34 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: FT924-1723 _AN-CLPCOAFXFT 9212 16 FT 16 DEC 92 / Scottish tourism suffers 1% fall By JAMES BUXTON THE Scottish tourist ind ustry suffered a 1 per cent fall in turnover in real terms in the 1992 seaso n, the Scottish Tourist Board said yesterday. The industry's turnover was Po unds 1.7bn. Spending by visitors from England was down 9 per cent at Pounds 740m, while spending by visitors from overseas was up 6 per cent at Pounds 5 40m. Scots spent Pounds 370m on tourism in their own country, an increase of 2 per cent in real terms. Mr Ian Grant, the board's chairman, said Scotland had suffered from the effect of the recession on English people, who may ha ve been taking fewer holidays. He believed Scotland would receive more visit ors from the US next year after the recovery in the value of the dollar agai nst sterling. The Financial Times London Page 7 < /PAGE> ============= Transaction # 55 ============================================== Transaction #: 55 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 35 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: FT923-6187 _AN-CH0BVABKFT 9208 26 FT 26 AUG 92 / 18% jump in visitors to Northern Irela nd THE NUMBER of visitors to Northern Ireland increased b y 18 per cent to 263,000 last year, the province's tourist board said yester day. Mr Hugh O'Neill, board chairman, said the numbers had more than doubled over three years but the government target was for more than 400,000 holida ymakers by 1994. Self-catering, bed and breakfast accommodation and touring caravan and camping sites reported big increases in business, although hotel occupancy fell by 1 per cent. The board's annual report says that holidayma kers are spending less because of the recession and the domestic market is w eak. There was also a disappointing level of visitors from the US but Mr O'N eill said: 'We nevertheless believe that 1992 will be the best ever year for overseas visitors and for tourism revenue.' The Financial Time s London Page 6 ============= Transaction # 56 ============================================== Transaction #: 56 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 36 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: FT944-12438 _AN-EKAEZAHRFT 941 101 FT 01 NOV 94 / Survey of Australia (8): Harvest in t he hotels - Japanese tourists flock in By BRUCE JACQ UES The growing importance of tourism to the Australian eco nomy was underlined in 1994 by recognition of the diverse and complex sector as a leading stock exchange investment indicator. The pooling of nine leadi ng tourism-related companies into a single indicator, the Tourism and Leisur e Index, represented a coming of age for a sector which has had more than it s share of credibility problems with investors. While the index will help to make a fragmented industry more accessible and easier to analyse, it will r eflect merely the tip of what is a very large and growing iceberg. By Septem ber this year, companies included in the index boasted a market capitalisati on comfortably above ADollars 3bn, or around one per cent of the benchmark A ll Ordinaries index. But the new index sits atop a sector which now makes up more than 5.5 per cent of Australia's gross domestic product, employs almos t 6 per cent of the country's workforce, generated foreign exchange earnings exceeding ADollars 10.7bn and accounted for expenditure estimated at Dollar s 26.2bn last year. Although the bulk of that expenditure total - ADollars 1 8.4bn - came from domestic tourism, inbound tourism is expected to be the ma jor growth area for the rest of the century, boosted by Sydney's capture las t year of the 2000 Olympic Games. This climate of growth has already catalys ed strong investment. The Australian Tourism Commission (ATC) has identified tourism-related accommodation projects worth almost ADollars 5bn scheduled for completion by 1996, including two new casinos. The activity has also thr own up plans which will test equity markets, including a float of the Federa l Government's flagship airline Qantas, possible refloating of the rival pri vate airline, Ansett, and privatisation of the country's airports. These pro posals could call on markets for around ADollars 7bn over the next five year s, providing a keen indication of investor attitudes to the tourism sector. Some see even more at stake. Many analysts see tourism performance as an aci d test of the wider Australian economy's ability to compete internationally into the next century. A recent study by ANZ McCaughan, the Australian stock broker, says tourism growth will largely reflect the country's ability to wi n an increasing share of the global tourism market, clearly one of the world 's biggest industries. ANZ McCaughan quotes estimates that tourism accounted for around 5.5 per cent of world gross national product in 1993, with more than 500m tourists spending almost ADollars 325bn. Tourism is widely forecas t to create one in nine new jobs in the world next year, rising to one in ei ght by the turn of the century. Australia has one crucial advantage in captu ring more than its share of this growth - its location in the Asia-Pacific r egion, the world's fastest growing tourist area. ANZ McCaughan says in the 1 2 years to 1992, tourist arrivals in the region grew at an annual average of almost 9 per cent, more than double the world average. Continued regional o utperformance is forecast for the next decade. Australia has more than match ed this regional growth over the past decade, with arrivals increasing at mo re than 9 per cent annually. This record, plus the boost expected from the O lympic Games, recently led the ATC to confirm its estimate that 6.8m oversea s tourists would visit Australia in the year 2000, rising to 8.4m by 2004. T his compares with 3.2m actual arrivals in 1993-4. These forecasts reflect an estimated 2.1m overseas visitors generated directly over the next decade by the Sydney 2000 Olympics, with the bulk of business coming from Asia as slo w economic recovery and intense competition curb traffic from Europe and the US. Japan remained the largest single source of inbound tourists to Austral ia in 1993, claiming 22.4 per cent of the total. This was shaded by combined visitors from other Asian sources, which took 22.7 per cent. New Zealand pr ovided another 16.6 per cent of visitors, the US 9.4 per cent, UK/Ireland 8. 1 per cent and other European countries 10.5 per cent. While less numerous t han their Asian counterparts, UK/Ireland and other European visitors probabl y contributed more to the Australian economy because their average stay was around 40 nights compared with just nine nights for Japan and 32 nights for other Asian countries. The main reason for the discrepancy appears to be tha t UK/Ireland and European visitors come mainly to see relatives while most A sians come primarily for holidays. ANZ McCaughan's analysis concludes that A ustralia's inbound tourism record over the past decade largely reflects the emergence of the country as an inexpensive place to visit. A weakening curre ncy has helped, but the brokers calculate that the cost of tourism related s ervices in Australia are now among the lowest in the industrialised world. ' Australia's tourism infrastructure is generally adequate for present needs a nd there is every indication that it can respond quickly to actual and estim ated changes in tourism plans,' the analysis said. 'The national attractions of Australia are such that great opportunities exist in the growing eco-tou rism market, reflecting in part the preferences of travellers for more activ e, participatory or experimental travel experiences.' Countries :- JPZ Japan, Asia. Industries:- P7999 Amuse ment and Recreation, NEC. Types:- CMMT Comment & Analy sis. The Financial Times London Page IV ============= Transaction # 57 ============================================== Transaction #: 57 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 54709 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 58 ============================================== Transaction #: 58 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 37 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: FT922-11810 _AN-CDWA1AEBFT 920 423 FT 23 APR 92 / Scots business optimism rises By JAMES BUXTON, Scottish Correspondent BU SINESS optimism increased in several parts of the Scottish economy in the fi rst quarter of this year, although demand continued to decline in most secto rs. The Scottish business survey, conducted by chambers of commerce and anal ysed by the Fraser of Allander Institute of Strathclyde University, Glasgow, found an improvement in optimism in manufacturing, retailing and tourism. B ut business confidence was falling in construction and wholesaling. The quar terly survey showed manufacturers reporting a continuing fall in orders and sales, although the decline was slower than in the fourth quarter of last ye ar. Orders and sales to all principal markets were in decline except for the Scottish market, where a small margin of companies reported an upturn. In c onstruction, orders continued to fall at the same rate as in the fourth quar ter of last year. But demand experienced by retailers appeared to be rising. The level of wage increases continued to fall in manufacturing, retail and finance, but increases were reported in construction and leisure. Demand for staff was generally weak, although the rate of decline in employment levels fell in the first quarter. Fewer companies were seeking to recruit and fewe r were having difficulties recruiting. The Financial Times London Page 11 ============= Transaction # 59 ============================================== Transaction #: 59 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 38 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: FT941-17376 _AN-EAECPABFFT 940 105 FT 05 JAN 94 / World Trade News: Global tourism clim bs by 3.8% By MICHAEL SKAPINKER, Leisure Industries Correspondent The number of international tourist arrivals worldwide last year was about 500m, a 3.8 per cent increase over 1992, accor ding to the World Tourism Organisation. International tourism receipts rose 9 per cent to Dollars 324bn (Pounds 219bn). The East Asian and Pacific regio n recorded the highest level of growth last year, with arrivals up 11.8 per cent to 68.5m. Tourist receipts in the region rose 15.2 per cent to Dollars 52.6bn. The Americas recorded the second highest growth, with arrivals up 5. 6 per cent to 106.5m and receipts up 14.3 per cent to Dollars 95.5bn. Travel within North America fell as a result of difficult economic conditions but tourists from Europe compensated for the shortfall. The Caribbean and Latin America had a successful year, the organisation said. Europe remained the wo rld's largest tourist destination, with 296.5m arrivals last year and receip ts of Dollars 162.6bn. This represented growth over 1992 of 2.1 per cent and 5.7 per cent respectively. Northern European countries had a difficult year , while eastern and central European destinations recorded strong growth. Th e eastern Mediterranean held up well. Growth in tourism to Africa was also l imited, with arrivals up 2 per cent to 17.9m. Tourism receipts were healthie r, however, growing 8.7 per cent to Dollars 6.4bn. The losers last year were the Middle East and south Asia. The organisation said the Middle East had f ailed to maintain its post-Gulf war promise, with arrivals down 8.4 per cent to 7.2m. Receipts fell 7.4 per cent to Dollars 4.9bn. In south Asia, arriva ls fell by 1.4 per cent to 3.4m, with receipts down 2.9 per cent to Dollars 2bn. The organisation said it expected international tourist arrivals to ris e to 661m by 2000 and to 937m by 2010. Countries:- XB Z North America. XEZ South America. XGZ Europe. XOZ Asia. Industries:- P7999 Amusement and Recreation, NEC. < XX> Types:- NEWS General News. The Financial Times

London Page 4 ============= Transaction # 60 ============================================== Transaction #: 60 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 39 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: FT942-1532 _AN-EFWDNAGLFT 9406 23 FT 23 JUN 94 / Survey of Korea (12): Island's charm i s under threat / A look at the impact that market liberalisation may have on Cheju By JOHN BURTON The beautiful volcanic island province of Cheju provides a good example of the challenges that South Korea is confronting in opening its domestic market to foreign c ompetition. Its half-million citizens are debating whether the benefits offe red by wider international access will outweigh the disruptive changes cause d by market liberalisation. Cheju, which lies 100 kilometres south of the Ko rean mainland, will be one of regions most affected by the relaxation of res trictions on agricultural imports under the recent Uruguay round of Gatt. Th e threatened decline of the agricultural industry, which has supported the i sland for centuries, is accelerating a shift toward international tourism as the province's new economic mainstay. This is also forcing a change in atti tudes on the island, which has traditionally displayed a fierce independence to the outside world. Cheju's tragic history has been marked by frequent re volts against the central government in Seoul. Its farmers were mostly freeh olders, rather than tenants as in the rest of Korea, which contributed to a resentment against the heavy hand of the central government. The rebellious nature of the island was reinforced by its role as a place of banishment for political exiles until the expiration of the Korean monarchy in 1910. The i sland suffered a mini-civil war in 1948-49, which was a harbinger of the Kor ean War of the 1950-53, when the Seoul government adopted a tough policy in reasserting its authority over the island following Korea's liberation from Japanese colonial rule. An estimated 30,000 persons, about 12 per cent of th e island's population at the time, were killed during the insurrection. The island's bloody history has created ambivalent attitudes toward the vast cha nges being imposed on Cheju from the outside. The most significant developme nt will be the decline of agriculture, which still accounts for 36 per cent of the island's economy. Cheju's agricultural industry is largely based on t angerines, which are grown on small, inefficient and heavily state-subsidise d farms on the southern half of the island. The full opening of the Korean m arket to tangerine imports by 2004 is likely to lead to a consolidation of l ocal farms. The government, however, hopes to take advantage of the lower tr ade barriers promised by the Uruguay round to increase tangerine and other a gricultural exports to Japan, which are expected to triple within the next f ive years to Dollars 100m. Cheju is seeking to create a sales network for ag ricultural products in Japan and establish direct shipping routes there for the quick delivery of produce. But these measures are only meant to preserve some of island's agricultural industry and will do little to sustain Cheju' s economic growth. Instead, the government is concentrating on inter- nation al tourism as the key instrument to revive the island's fortunes. The natura l beauty of the island is well-suited to attract visitors. Its landscape bea rs more similarities to Europe than to Asia, combining the volcanoes of Icel and with the moors of Ireland and the coast of northern Italy. The push for tourism began in the 1970s, when Cheju was developed as a honey- moon resort for Korean couples. It enjoyed a captive market since overseas travelling b y Koreans was severely restricted by the government until the late 1980s. To urism in the past few years has become the island's biggest industry, accoun ting for 40 per cent of the economy. But the recent easing of travel restric tions has meant that Korean newly-weds are now visiting Guam, Saipan and Haw aii instead. Cheju has switched its tourism strategy to attracting more fore ign visitors, particularly from Japan and Taiwan. A total of Won7,390bn will be invested in Cheju by 2001 to build a series of resort complexes in an at tempt to increase tourism by 50 per cent to 5.3m visitors annually. The emph asis will no longer be on mass tourism, but on attracting prosperous individ ual travellers. 'We would like to build more hotels, sports facilities, aqua riums, amusement parks, yacht marinas and casinoes in the hope of making Che ju the Las Vegas of Asia,' says Mr Chi Youn-tai, president of the Korean Nat ional Tourism Corporation. The KNTC has already established one resort compl ex at Chungman Beach and will participate in the construction of two others. The Hanjin conglomerate, which owns the country's main carrier Korean Air, is also planning to build a resort facility. The government estimates that i ncreased tourism by high-spending visitors will quintuple the size of the is land's economy to Won7,800bn by 2001. But the islanders have expressed resen tment at the development plans. 'Cheju people are very independent- minded a nd don't like to be interfered with by outsiders,' admits Mr Chi. 'These peo ple sometimes feel that the outsiders are reaping all the advantages of the development and they are left with little.' But the conclusion of the Urugua y Round and its impact on the island's agricultural sector are changing peop le's attitudes. 'They now realise that they have a beautiful place for touri sm, which will mean their survival. They are beginning to understand that to urism is very important,' Mr Chi explained. Public opposition to the buildin g of a second golf course on Cheju, for example, is receding. But the threat remains that extensive development will spoil the island's con- siderable n atural charm and destroy the appeal that first attracted visitors to Cheju. Countries:- KRZ South Korea, Asia. Indust ries:- P9641 Regulation of Agricultural Marketing. P9721 Inter national Affairs. P953 Housing and Urban Development. Types: - CMMT Comment & Analysis. The Financial Times London Page VIII ============= Transaction # 61 ============================================== Transaction #: 61 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 39 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: FT942-1532 _AN-EFWDNAGLFT 9406 23 FT 23 JUN 94 / Survey of Korea (12): Island's charm i s under threat / A look at the impact that market liberalisation may have on Cheju By JOHN BURTON The beautiful volcanic island province of Cheju provides a good example of the challenges that South Korea is confronting in opening its domestic market to foreign c ompetition. Its half-million citizens are debating whether the benefits offe red by wider international access will outweigh the disruptive changes cause d by market liberalisation. Cheju, which lies 100 kilometres south of the Ko rean mainland, will be one of regions most affected by the relaxation of res trictions on agricultural imports under the recent Uruguay round of Gatt. Th e threatened decline of the agricultural industry, which has supported the i sland for centuries, is accelerating a shift toward international tourism as the province's new economic mainstay. This is also forcing a change in atti tudes on the island, which has traditionally displayed a fierce independence to the outside world. Cheju's tragic history has been marked by frequent re volts against the central government in Seoul. Its farmers were mostly freeh olders, rather than tenants as in the rest of Korea, which contributed to a resentment against the heavy hand of the central government. The rebellious nature of the island was reinforced by its role as a place of banishment for political exiles until the expiration of the Korean monarchy in 1910. The i sland suffered a mini-civil war in 1948-49, which was a harbinger of the Kor ean War of the 1950-53, when the Seoul government adopted a tough policy in reasserting its authority over the island following Korea's liberation from Japanese colonial rule. An estimated 30,000 persons, about 12 per cent of th e island's population at the time, were killed during the insurrection. The island's bloody history has created ambivalent attitudes toward the vast cha nges being imposed on Cheju from the outside. The most significant developme nt will be the decline of agriculture, which still accounts for 36 per cent of the island's economy. Cheju's agricultural industry is largely based on t angerines, which are grown on small, inefficient and heavily state-subsidise d farms on the southern half of the island. The full opening of the Korean m arket to tangerine imports by 2004 is likely to lead to a consolidation of l ocal farms. The government, however, hopes to take advantage of the lower tr ade barriers promised by the Uruguay round to increase tangerine and other a gricultural exports to Japan, which are expected to triple within the next f ive years to Dollars 100m. Cheju is seeking to create a sales network for ag ricultural products in Japan and establish direct shipping routes there for the quick delivery of produce. But these measures are only meant to preserve some of island's agricultural industry and will do little to sustain Cheju' s economic growth. Instead, the government is concentrating on inter- nation al tourism as the key instrument to revive the island's fortunes. The natura l beauty of the island is well-suited to attract visitors. Its landscape bea rs more similarities to Europe than to Asia, combining the volcanoes of Icel and with the moors of Ireland and the coast of northern Italy. The push for tourism began in the 1970s, when Cheju was developed as a honey- moon resort for Korean couples. It enjoyed a captive market since overseas travelling b y Koreans was severely restricted by the government until the late 1980s. To urism in the past few years has become the island's biggest industry, accoun ting for 40 per cent of the economy. But the recent easing of travel restric tions has meant that Korean newly-weds are now visiting Guam, Saipan and Haw aii instead. Cheju has switched its tourism strategy to attracting more fore ign visitors, particularly from Japan and Taiwan. A total of Won7,390bn will be invested in Cheju by 2001 to build a series of resort complexes in an at tempt to increase tourism by 50 per cent to 5.3m visitors annually. The emph asis will no longer be on mass tourism, but on attracting prosperous individ ual travellers. 'We would like to build more hotels, sports facilities, aqua riums, amusement parks, yacht marinas and casinoes in the hope of making Che ju the Las Vegas of Asia,' says Mr Chi Youn-tai, president of the Korean Nat ional Tourism Corporation. The KNTC has already established one resort compl ex at Chungman Beach and will participate in the construction of two others. The Hanjin conglomerate, which owns the country's main carrier Korean Air, is also planning to build a resort facility. The government estimates that i ncreased tourism by high-spending visitors will quintuple the size of the is land's economy to Won7,800bn by 2001. But the islanders have expressed resen tment at the development plans. 'Cheju people are very independent- minded a nd don't like to be interfered with by outsiders,' admits Mr Chi. 'These peo ple sometimes feel that the outsiders are reaping all the advantages of the development and they are left with little.' But the conclusion of the Urugua y Round and its impact on the island's agricultural sector are changing peop le's attitudes. 'They now realise that they have a beautiful place for touri sm, which will mean their survival. They are beginning to understand that to urism is very important,' Mr Chi explained. Public opposition to the buildin g of a second golf course on Cheju, for example, is receding. But the threat remains that extensive development will spoil the island's con- siderable n atural charm and destroy the appeal that first attracted visitors to Cheju. Countries:- KRZ South Korea, Asia. Indust ries:- P9641 Regulation of Agricultural Marketing. P9721 Inter national Affairs. P953 Housing and Urban Development. Types: - CMMT Comment & Analysis. The Financial Times London Page VIII ============= Transaction # 62 ============================================== Transaction #: 62 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 39 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: FT942-1532 _AN-EFWDNAGLFT 9406 23 FT 23 JUN 94 / Survey of Korea (12): Island's charm i s under threat / A look at the impact that market liberalisation may have on Cheju By JOHN BURTON The beautiful volcanic island province of Cheju provides a good example of the challenges that South Korea is confronting in opening its domestic market to foreign c ompetition. Its half-million citizens are debating whether the benefits offe red by wider international access will outweigh the disruptive changes cause d by market liberalisation. Cheju, which lies 100 kilometres south of the Ko rean mainland, will be one of regions most affected by the relaxation of res trictions on agricultural imports under the recent Uruguay round of Gatt. Th e threatened decline of the agricultural industry, which has supported the i sland for centuries, is accelerating a shift toward international tourism as the province's new economic mainstay. This is also forcing a change in atti tudes on the island, which has traditionally displayed a fierce independence to the outside world. Cheju's tragic history has been marked by frequent re volts against the central government in Seoul. Its farmers were mostly freeh olders, rather than tenants as in the rest of Korea, which contributed to a resentment against the heavy hand of the central government. The rebellious nature of the island was reinforced by its role as a place of banishment for political exiles until the expiration of the Korean monarchy in 1910. The i sland suffered a mini-civil war in 1948-49, which was a harbinger of the Kor ean War of the 1950-53, when the Seoul government adopted a tough policy in reasserting its authority over the island following Korea's liberation from Japanese colonial rule. An estimated 30,000 persons, about 12 per cent of th e island's population at the time, were killed during the insurrection. The island's bloody history has created ambivalent attitudes toward the vast cha nges being imposed on Cheju from the outside. The most significant developme nt will be the decline of agriculture, which still accounts for 36 per cent of the island's economy. Cheju's agricultural industry is largely based on t angerines, which are grown on small, inefficient and heavily state-subsidise d farms on the southern half of the island. The full opening of the Korean m arket to tangerine imports by 2004 is likely to lead to a consolidation of l ocal farms. The government, however, hopes to take advantage of the lower tr ade barriers promised by the Uruguay round to increase tangerine and other a gricultural exports to Japan, which are expected to triple within the next f ive years to Dollars 100m. Cheju is seeking to create a sales network for ag ricultural products in Japan and establish direct shipping routes there for the quick delivery of produce. But these measures are only meant to preserve some of island's agricultural industry and will do little to sustain Cheju' s economic growth. Instead, the government is concentrating on inter- nation al tourism as the key instrument to revive the island's fortunes. The natura l beauty of the island is well-suited to attract visitors. Its landscape bea rs more similarities to Europe than to Asia, combining the volcanoes of Icel and with the moors of Ireland and the coast of northern Italy. The push for tourism began in the 1970s, when Cheju was developed as a honey- moon resort for Korean couples. It enjoyed a captive market since overseas travelling b y Koreans was severely restricted by the government until the late 1980s. To urism in the past few years has become the island's biggest industry, accoun ting for 40 per cent of the economy. But the recent easing of travel restric tions has meant that Korean newly-weds are now visiting Guam, Saipan and Haw aii instead. Cheju has switched its tourism strategy to attracting more fore ign visitors, particularly from Japan and Taiwan. A total of Won7,390bn will be invested in Cheju by 2001 to build a series of resort complexes in an at tempt to increase tourism by 50 per cent to 5.3m visitors annually. The emph asis will no longer be on mass tourism, but on attracting prosperous individ ual travellers. 'We would like to build more hotels, sports facilities, aqua riums, amusement parks, yacht marinas and casinoes in the hope of making Che ju the Las Vegas of Asia,' says Mr Chi Youn-tai, president of the Korean Nat ional Tourism Corporation. The KNTC has already established one resort compl ex at Chungman Beach and will participate in the construction of two others. The Hanjin conglomerate, which owns the country's main carrier Korean Air, is also planning to build a resort facility. The government estimates that i ncreased tourism by high-spending visitors will quintuple the size of the is land's economy to Won7,800bn by 2001. But the islanders have expressed resen tment at the development plans. 'Cheju people are very independent- minded a nd don't like to be interfered with by outsiders,' admits Mr Chi. 'These peo ple sometimes feel that the outsiders are reaping all the advantages of the development and they are left with little.' But the conclusion of the Urugua y Round and its impact on the island's agricultural sector are changing peop le's attitudes. 'They now realise that they have a beautiful place for touri sm, which will mean their survival. They are beginning to understand that to urism is very important,' Mr Chi explained. Public opposition to the buildin g of a second golf course on Cheju, for example, is receding. But the threat remains that extensive development will spoil the island's con- siderable n atural charm and destroy the appeal that first attracted visitors to Cheju. Countries:- KRZ South Korea, Asia. Indust ries:- P9641 Regulation of Agricultural Marketing. P9721 Inter national Affairs. P953 Housing and Urban Development. Types: - CMMT Comment & Analysis. The Financial Times London Page VIII ============= Transaction # 63 ============================================== Transaction #: 63 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 40 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: FT924-11907 _AN-CJWBWACRFT 921 023 FT 23 OCT 92 / International Company News: Aeroports de Paris more than doubles first-half net By ALICE RAWSTHORN PARIS AEROPORTS de Pari s, which runs the Charles de Gaulle and Orly airports, has recovered from th e disruption caused by the Gulf War and more than doubled net profits in the first half of the year. During the first half of last year the Paris airpor ts, like those in other capitals, were badly hit by the dramatic decline in air travel for the duration of the war. However, the market has since recove red and, despite the economic slowdown, which has had a strong effect on bus iness travel, Aeroports de Paris managed to increase net profits by 138 per cent to FFr215.1m (Dollars 42m) in the first six months of 1992. The number of passengers using its airports rose by 5.1 per cent overall compared with 1990, the year before the Gulf War. However, this reflects a sharp increase of 9.7 per cent in international passenger traffic and a decline of 2 per ce nt in the domestic market. Paris is one of the few European capital cities t o have experienced an increase in international tourism this year, partly be cause of the opening of the EuroDisneyland theme park in April. Aeroports de Paris saw turnover rise by 17.2 per cent from FFr2.37bn to FFr2.78bn in the interim period while operating profits shot up by 50 per cent from FFr330.8 m to FFr495.5m. The Financial Times London Page 2 6 ============= Transaction # 64 ============================================== Transaction #: 64 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 40 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: FT924-11907 _AN-CJWBWACRFT 921 023 FT 23 OCT 92 / International Company News: Aeroports de Paris more than doubles first-half net By ALICE RAWSTHORN PARIS AEROPORTS de Pari s, which runs the Charles de Gaulle and Orly airports, has recovered from th e disruption caused by the Gulf War and more than doubled net profits in the first half of the year. During the first half of last year the Paris airpor ts, like those in other capitals, were badly hit by the dramatic decline in air travel for the duration of the war. However, the market has since recove red and, despite the economic slowdown, which has had a strong effect on bus iness travel, Aeroports de Paris managed to increase net profits by 138 per cent to FFr215.1m (Dollars 42m) in the first six months of 1992. The number of passengers using its airports rose by 5.1 per cent overall compared with 1990, the year before the Gulf War. However, this reflects a sharp increase of 9.7 per cent in international passenger traffic and a decline of 2 per ce nt in the domestic market. Paris is one of the few European capital cities t o have experienced an increase in international tourism this year, partly be cause of the opening of the EuroDisneyland theme park in April. Aeroports de Paris saw turnover rise by 17.2 per cent from FFr2.37bn to FFr2.78bn in the interim period while operating profits shot up by 50 per cent from FFr330.8 m to FFr495.5m. The Financial Times London Page 2 6 ============= Transaction # 65 ============================================== Transaction #: 65 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 40 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: FT924-11907 _AN-CJWBWACRFT 921 023 FT 23 OCT 92 / International Company News: Aeroports de Paris more than doubles first-half net By ALICE RAWSTHORN PARIS AEROPORTS de Pari s, which runs the Charles de Gaulle and Orly airports, has recovered from th e disruption caused by the Gulf War and more than doubled net profits in the first half of the year. During the first half of last year the Paris airpor ts, like those in other capitals, were badly hit by the dramatic decline in air travel for the duration of the war. However, the market has since recove red and, despite the economic slowdown, which has had a strong effect on bus iness travel, Aeroports de Paris managed to increase net profits by 138 per cent to FFr215.1m (Dollars 42m) in the first six months of 1992. The number of passengers using its airports rose by 5.1 per cent overall compared with 1990, the year before the Gulf War. However, this reflects a sharp increase of 9.7 per cent in international passenger traffic and a decline of 2 per ce nt in the domestic market. Paris is one of the few European capital cities t o have experienced an increase in international tourism this year, partly be cause of the opening of the EuroDisneyland theme park in April. Aeroports de Paris saw turnover rise by 17.2 per cent from FFr2.37bn to FFr2.78bn in the interim period while operating profits shot up by 50 per cent from FFr330.8 m to FFr495.5m. The Financial Times London Page 2 6 ============= Transaction # 66 ============================================== Transaction #: 66 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 41 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: FT942-7546 _AN-EEYDRAC6FT 9405 25 FT 25 MAY 94 / Business and the Environment: A bigger splash on the canals -Jane Martinson on plans to boost British Waterways B oard's income By JANE MARTINSON The British Waterways Board, the nationalised body which runs Britain's canals, plans to turn people's desire to mess about by the river into profit. With a leisure and tourism strategy launched by Robert Atkins, environment minist er, today, the board appeals for 'imaginative partnerships' to increase the money-making potential of its most popular sites. Such developments would ha ve to satisfy the board's commitment to conserving the heritage and environm ent of the land and buildings it controls, including more than 2,000 listed structures and ancient monuments and 64 sites of special scientific interest . A private bill before parliament defines the board's statutory duties with regard to maintaining environmental conservation. 'We have to appreciate th at many people enjoy going to the canals to 'gongoozle' - to simply watch th e wildlife and canal life go by,' says Simon Salem, marketing and communicat ions manager. 'Our aim is to increase everybody's enjoyment of this natural resource.' Another aim is to increase profits. The board earns 40 per cent o f its annual running costs of Pounds 87m, the rest coming from subsidies. Pr ofits from leisure and tourism contribute 25 per cent of that earned income, a percentage the board wants to increase. Market research has suggested the re is potential for this, says Salem. Possible developments include leisure facilities such as tea shops, small museums or playgrounds. Financial incent ives will be considered for suitable proposals and extensive consultation wi th local interest groups is planned. The board hopes to capitalise on the 15 8m visits made to British canals each year by more than 7m people. It plans to improve access for particular interest groups such as anglers and boaters and attract some of the 47 per cent of the population who live within five miles of a BWB canal. Popular sites which regularly attract in excess of 200 ,000 visitors each year, says Salem, would particularly benefit from further development. 'We see tourism, and particularly the day trip side, as a key growth area,' he adds. 'At the same time, we are aware that plans have got t o be balanced. Our main aim is to conserve our heritage.' He says 'sensitive ' proposals would be welcomed. Fast food chains and vast car parking space w ould not. Plans are particularly welcome in inner cities where canals are vi tal 'green lungs'. Today's launch follows a report on the board by the Monop olies and Mergers Commission in January which made 48 recommendations for im provement, including cost control and more active marketing of leisure facil ities. Neil Hamilton, corporate affairs minister, said: 'BWB has changed fro m a centralised organisation orientated towards administering a grant to one developing a strong commercial outlook.' But he added that the MMC felt BWB could continue to improve its efficiency and the quality of its services, a nd expected BWB to be able to generate higher net revenue. The board supplie d half the funding needed for a Pounds 1.5m refurbishment of grade two liste d canal warehouses in Burnley last year in partnership with Lancashire count y council. The site is to be used for mixed commercial and leisure developme nt. In developing its strategy, the board has taken advice from the National Trust, the charity which operates a business arm known as National Trust En terprise and which saw a large increase in membership in the 1980s. The boar d is considering a membership scheme which could include a magazine and lect ure programmes. Bernard Henderson, the board's chairman, says: 'Of course, i t's early days but we certainly think that the National Trust is a template which deserves study. We have two main responsibilities - to provide facilit ies for people to enjoy the environment and to improve it.' Com panies:- British Waterways Board. Countries:- GBZ United Kingdom, EC. Industries:- P4499 Water Tran sportation Services, NEC. Types:- CMMT Comment & Analy sis. TECH Services & Services use. The Financial Times London Page 20 ============= Transaction # 67 ============================================== Transaction #: 67 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 42 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: FT911-1325 _AN-BEGBDAB7FT 9105 07 FT 07 MAY 91 / International Company News: Wagons-Lit s slips more than 60% in year By ANDREW HILL BRUSSELS NET PROFIT at Wagons-Lits, the Franco-Belgian tourism group, fell by more than 60 per cent last year, hit b y increased debt and continuing difficulties with Europcar, its British car- hire subsidiary, writes Andrew Hill in Brussels. The group's net profits tum bled from BFr1.46bn (Dollars 40.7m) to BFr547m in 1990, the second successiv e year in which profits have declined. In 1988 the group made BFr2.68bn afte r tax. Operating profit also dropped last year, from BFr3.1bn to BFr2.49bn, although turnover rose slightly to BFr98.9bn, compared with BFr96.4bn. The c ompany is proposing to cut its dividend from BFr129 to BFr100 a share. The r esults were also hit by an increase in the debt linked to Wagons-Lits' stake in Sodexho, the French catering group, which was sold earlier this year, an d reduced margins in the original railway sleeping and dining-car operations . The Financial Times London Page 23 ============= Transaction # 68 ============================================== Transaction #: 68 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 43 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: FT924-1176 _AN-CLTALABOFT 9212 19 FT 19 DEC 92 / Business failures rise by 48% in north -west By IAN HAMILTON FAZEY, Northern Correspondent RECEIVERSHIPS in north-west England were 48 per cent higher in the first 11 months of this year than in the same period last year and a re likely to pass 550 by the end of December, according to Latham Crossley D avis, a firm of accountants based in Chorley, Lancashire. Construction, tour ism, leisure, property, building materials and furniture were the sectors ha rdest hit. The rate of increase, however, has been declining during the year . The month-on-month rise was 286 per cent last January, while the increase for the first half-year was 63 per cent. The rate dropped back to 31 per cen t for the five months from July to November. There were fewer receiverships last month than in November 1991. The firm has also been questioning 500 bus iness leaders since July and has found a slight rise in confidence. On a sca le of 1 to 10, confidence averaged 5.5 between July and December, but had ri sen to 6.5 in November. The Financial Times Londo n Page 5 ============= Transaction # 69 ============================================== Transaction #: 69 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 44 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: FT934-11432 _AN-DKACHABGFT 931 101 FT 01 NOV 93 / Hotel optimism FOU R in five hoteliers believe the downturn in the industry has ended, tourism consultants Horwath Consulting said in a survey. This represents a 25 per ce nt increase on optimism in the summer. Countries:- GB Z United Kingdom, EC. Industries:- P7011 Hotels and Mo tels. Types:- NEWS General News. The Financ ial Times London Page 8 ============= Transaction # 70 ============================================== Transaction #: 70 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 45 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: FT943-14065 _AN-EGQAAABAFT 940 716 FT 16 JUL 94 / Waterways board increases income By JANE MARTINSON British Waterways, th e nationalised body which runs Britain's canals, increased its earned income by Pounds 3.5m last year as part of efforts to phase out its dependence on government funding. Some of the increase came from leisure uses such as boat and angling licences. The board's annual report, published yesterday, makes clear that leisure and tourism, as well as the property market, are seen as important areas for growth. The board has increased self-generated income b y 40 per cent in real terms since 1988, when it was the subject of a critica l report by the Monopolies and Mergers Commission. Yesterday's report emphas ises the board's heritage role - it owns more than 2,000 listed structures a nd ancient monuments and 64 sites of special scientific interest - and envis ages its development along the lines of the National Trust. The board receiv ed a Pounds 49.7m government grant last year, Pounds 2m less than the year b efore, while self-generated income rose to Pounds 38.1m. Mr Bernard Henderso n, the chairman of Anglian Water who was appointed British Waterways chairma n in April, said that although plans for privatisation would probably be wel comed by the government and the board he did not expect this in the near fut ure. He said: 'There was no great problem in preparing Anglian for privatisa tion because there was a will (among staff) to run the enterprise themselves . I feel the same thing at British Waterways. And, if honest, the Treasury w ould love to get rid of it too.' He denied, however, that he had been brough t in to prepare for privatisation. He added: 'If the current grant suddenly stopped we would go under.' Companies:- British Water ways Board (UK). Countries:- GBZ United Kingdom, EC. < /CN> Industries:- P4499 Water Transportation Services, NEC. < /IN> Types:- FIN Annual report. The Financial Tim es London Page 6 ============= Transaction # 71 ============================================== Transaction #: 71 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 46 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: FT933-8438 _AN-DHPB3ABTFT 9308 16 FT 16 AUG 93 / Bright spots among the tourism gloom: The industry's patchy upturn By MICHAEL SKAPINKER YOU KNOW the tourist industry's recession is over when luncht ime restaurant customers run into double figures, says Mr Martin Cummings, o wner of the Inn on the Lake, in Godalming, Surrey. Mr Cummings said that his 20-room inn and restaurant had just started achieving lunchtime double figu res. Room occupancy was up 5.2 per cent on last summer. Like their colleague s in the manufacturing sector, managers of tourist establishments report an upturn but say that it is patchy. Some say they could not survive without No rth American visitors, others that the North Americans do not seem to have a rrived this year. The English Tourist Board said that it had heard contrasti ng stories of success and gloom from different hotels in the same street. Me anwhile Mr Brian Hughes, managing director of the St Andrews Golf Hotel in S t Andrews, Fife, said the recession in the south of England had led to a sha rp fall in guests from there. Business from the US and continental Europe ha d been excellent. At the other end of the country, Mr Cummings said that ano ther of his properties, the Amberley Castle country hotel, in Amberley, West Sussex, has enjoyed a 37 per cent increase in occupancy in the past three m onths compared with the same period last year. Most tourism managers agree t hat business is better this summer than last, although they have different v iews on how much better. Mrs Jane Randall, tourism services officer for Stok e-on-Trent, said inquiries at the local tourism information centre were runn ing at 1,000 a day compared with 500 to 600 last summer. The different exper iences of tourist businesses partly reflect the uneven nature of the upturn. They also reflect the fragmented nature of the UK tourist industry. Most co mpanies are small and attract different types of visitor. Some operate in ma rkets which are less vulnerable to recession because their clients are so we ll-off. Mr Hughes in St Andrews said that American and continental European golfers tended to be wealthier than their UK counterparts. 'You don't have t o be well-off to play golf in Britain,' he said. 'The British golfer tends t o golf cheaply.' Foreign golfers come to Scotland in good economic times and bad. 'Two points up or down in the exchange rates doesn't affect them,' he said. Stoke-on-Trent, home to ceramics companies such as Wedgwood, also trie s to attract high-spending foreign visitors. Mrs Randall said there were mor e high-spenders this year than last. In 1992, the year after the Gulf war, t here were many cheap flights on offer in the US and the Americans who visite d the city did not have much money to spend. She said wealthier Americans ap peared to have returned this summer, along with an increasing number of cont inental Europeans and visitors from as far away as Venezuela. C ountries:- GBZ United Kingdom, EC. Industries:- P5812 Eating Places. P7011 Hotels and Motels. P7999 Amusement an d Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times London Page 7 ============= Transaction # 72 ============================================== Transaction #: 72 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 47 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: FT924-14658 _AN-CJHBUAGFFT 921 008 FT 08 OCT 92 / Survey on Austria (11): Hotel owners calculate carefully - Tourism aims at quality By IAN RODGER FOR AUSTRIA'S ambitious tourism industry, a good ye ar may not be good enough. After several years of rapid expansion in the num ber of visitors and in tourism revenue, Austria's most important industry is expecting a significant growth slowdown for 1992, primarily because of the world recession. Revenue from tourism will still reach a new record high, bu t hotel owners and tour operators are talking about a crisis. 'The profitabi lity of hotels is very poor, it is a real problem both in the cities and the resorts,' says Mr Michael Raffling, head of the hotel and restaurant sectio n in the Austrian chamber of commerce. Following years of heavy investment i n expanding and upgrading facilities, many hotel owners are heavily indebted and are being hurt by high European interest rates. Any difficulties fillin g beds are often solved by offering heavy discounts on room prices, which te nds to depress profits further, he says. 'We are advising hotel owners to ca lculate carefully. We tell them not to subsidise their guests,' Mr Raffling says. Instead, he says hotels could attract more visitors by focusing on spe cial groups such as skiers, golfers or fitness fanatics, who are willing the pay the full price if their interests are met. Tourism experts who are not affiliated with the hotel industry do not see any fundamental problems behin d the growth slowdown. The extremely hot weather in central Europe this summ er has hurt some resorts because many Austrians decided to stay at home whil e Germans went to the cooler Baltic sea resorts, says Mr Paul Schimka, head of the tourism section in the chamber of commerce. The main cities of Vienna and Salzburg, where hotels rely heavily on US and British visitors, had suf fered a major setback last year because of the Gulf war, and are only recove ring modestly so far this year. Recession in the US and Britain and the weak dollar are keeping those groups of tourists away, Mr Schimka says. But he e xpects the winter season to be very strong 'because last year's heavy snowfa ll was the best advertisement we could get.' Mr Egon Smeral, tourism forecas ter at the Austrian Economic Research Institute (WIFO), is expecting a reven ue increase of 5 per cent or less from the record ASch364bn earned from tour ism in 1991. This is less than targets set early in the year, but it will ke ep the country on a long-term growth track well above its main European comp etitors. 'Austria is gaining market share,' Mr Smeral says. 'Last year, tour ism in Europe declined, and this year it is stagnating, but in Austria it is still growing.' The country continues to benefit indirectly from the war in what was formerly Yugoslavia, because tourists who might have gone there go to Austria instead. Reports of pollution in the Mediterranean may have also worked in Austria's favour. Austria is investing heavily in advertising, an d a series of exhibitions on the Hapsburg empire is generating good publicit y as far as San Francisco and Tokyo. The number of overnight stays, which cl imbed 5.3 per cent to 130 million last year, is likely to stagnate in 1992, but experts say this is no reason to worry. The industry is focusing on qual ity rather than mass tourism, and cheap private beds are quickly disappearin g. The opening of Eastern Europe has brought less of an influx of low-budget tourists than many had expected. In the early days after the collapse of th e Berlin wall, hordes of tourists in rickety coaches would arrive in Vienna at weekends for a look at the city's treasures and depart after spending alm ost nothing. But both the coaches and the tourists' spending power have impr oved significantly, tourism officials say. The Financial Times London Page IV ============= Transaction # 73 ============================================== Transaction #: 73 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 48 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: FT922-2489 _AN-CFQA6AAWFT 9206 17 FT 17 JUN 92 / US figures point to sustained recovery By MICHAEL PROWSE WASHINGTO N A SHARP rebound in housing starts and a solid increase in industrial production were yesterday seen as encouraging signs that the U S economic recovery will be sustained through the summer. Industrial output rose 0.6 per cent in May, to register its fourth consecutive monthly increas e. Housing starts jumped 11 per cent, making good much of an erratic 17 per cent decline in April. 'The recovery is on track and gaining momentum, but s till remains about half-speed relative to previous upturns,' said Mr David L ittmann, senior economist at Manufacturers National Corp, a Detroit bank. Th e main factor driving the recovery was the Federal Reserve's 'very stimulati ve' monetary policy. Doubts about the recovery's momentum had been raised by reports in the past 10 days showing weaker-than-expected retail sales and e mployment last month. The mixed pattern of statistics, however, is character istic of a sluggish economic recovery, in which different sectors advance at differing speeds. Housing starts are running at a seasonally adjusted annua l rate of 1.23m, roughly in line with the average rate for the first quarter . In the first five months of this year, starts were 28 per cent higher than in the same period last year. The housing recovery was broadly based, affec ting all types of residential structures and all regions. Building permits, a guide to future trends, dropped slightly last month. The rise in industria l output last month was led by increased production of cars, light trucks an d other durable consumer goods. Production is now running 2.2 per cent highe r than in May last year. Separate figures yesterday indicated that the US cu rrent account deficit fell to Dollars 5.3bn (Pounds 2.9bn) in the first quar ter, against Dollars 7.2bn in the final three months of last year. The impro vement reflected lower oil prices, higher receipts from tourism and increase d earnings on overseas assets. The Financial Times London Page 6 ============= Transaction # 74 ============================================== Transaction #: 74 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 54709 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 75 ============================================== Transaction #: 75 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 49 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: FT943-4834 _AN-EIGDVACNFT 9409 07 FT 07 SEP 94 / Survey of Enterprise in Wales (3): Fro m slagheaps to showpieces - Tourism By RICHARD EVANS To suggest a holiday in industrial South Wales would have seemed an unkind joke a decade ago, despite the nearby attractions of the Br econ Beacons and the Pembrokeshire and Gower coasts. Nowadays, a drive up th e former mining valleys shows how much the character of the area has altered in a few years. Preconceptions of valleys scarred by slagheaps, abandoned s teelworks and an air of hopelessness are soon dispelled. Over Pounds 136m ha s been spent on greening the countryside and developing tourist attractions, and beautiful hills and parkland now cover most of the ugly coaltip scars. There are forest walks, heritage parks and industrial and craft museums to a ttract the visitor. The valleys of industrial south Wales are joining the gl ories of the coastline, the mountains of the north and the green solitude of mid-Wales to embrace the tourist. Tourism has always been an important part of the Welsh economy, but until recently it was relatively low key, fragmen ted and under-capitalised. It consisted mostly of traditional family summer holidays in Llandudno and Rhyl in the north or Tenby and Porthcawl in the so uth, plus hikers and others attracted to the national parks of Snowdonia, th e Brecon Beacons and the Pembrokeshire coast. Two factors have changed attit udes dramatically, however, and led to a much more coherent, structured stud y of the industry and how it should be developed. The first has been the ste ady decline of traditional industries such as coalmining and steel in south Wales, agriculture in rural mid and north Wales, and more recently, defence industries and air bases in west Wales. With a need to create jobs, the prin cipality had to exploit its tourist assets: a beautiful countryside, histori c castles, churches and Roman and Celtic antiquities, plus a distinctive lan guage and culture. The second trigger for reform and development is the chan ging holiday habits of the British. As people began to opt for the guarantee d sunshine of Spain and Greece, Wales found itself too dependent on the trad itional family summer holiday. Hence, it had to offer fresh attractions. In its first development plan launched over five years ago, the Wales Tourist B oard put up Pounds 23m of pump-priming capital, which stimulated investment of Pounds 171m. That helped create 3,500 full-time equivalent jobs. Tourism is now an increasingly significant industry, employing 95,000 or 9 per cent of the workforce, and earning Pounds 1.3bn for the Welsh economy. Some 9m pe ople visit Wales a year. The intention, revealed earlier this year in a stud y called Tourism 2000, is to create 10,000 more jobs directly or indirectly, turning tourism into a Pounds 2bn a year industry by the turn of the centur y. Mr Paul Loveluck, WTB's chief executive, says: 'We will target our effort s at certain overseas markets and at increasing the range of attractions for those seeking short breaks or second holidays.' Development programmes are planned for coastal resort regeneration in Tenby, Porthcawl and Llandudno; i n the historic town of Caernarfon; for country holidays; customer care; and for golf, walking and cycling holidays. A prime requirement, particularly in the coastal areas most vulnerable to changing holiday patterns, is to attra ct visitors more evenly throughout the year. There are indica tions this is beginning to happen. In general, the 'shoulder' months of May-June and Septe mber-October have seen a slow but steady growth from second holidays and sho rt breaks. In recent years, there has been a decline in visitors in the peak holiday months, together with a trend towards later booking and discounting . However, this year's fine weather and the economic upturn have brought an increase in hotel occupancy figures over the very poor 1993 season. For exam ple, Mr George Pearsall, proprietor of the Plas Morfa hotel on the coast bet ween Aberystwyth and Cardigan, has seen a rise of 25 per cent in occupancy r ates so far this year. Another major requirement is to attract visitors who spend more money in the principality. This is being achieved by targeting ov erseas visitors, developing areas of tourism such as golf and yachting, and by improving hotel accommodation and car parking facilities. There are relat ively few top class hotels in Wales, but the standard of accommodation has b een improved greatly by the introduction of a quality grading system. Wales has fared relatively badly in attracting foreign visitors, with under 4 per cent of the UK total compared with 9.5 per cent for Scotland, and efforts ar e being made to improve this. Two years ago the WTB was allowed to market it self overseas separately from the British Tourist Authority, something Scotl and has done for a decade. The key target market is the US, and a network of 1,500 travel agents has been built up in east and west coast cities to prom ote Wales as part of a UK tour or as a destination in its own right. Over 30 0 US travel agents have been brought to Wales for training visits and they r eceive regular updates on new attractions and facilities. Seminars on touris m in Wales are being held throughout the US next month. Other markets being researched are Australia, Canada, Germany, the Netherlands, France, Ireland and Japan. (There appeared to be a big increase in Dutch, German and French car numberplates in the byways of rural mid-Wales this summer.) Over the nex t three years the WTB plans to double its overseas marketing budget from Pou nds 750,000 to Pounds 1.5m. Mr Loveluck expects overseas visitors to increas e by 6 per cent compared with a 2.5 per cent rise in UK tourists. It is acce pted that tourism development must not be allowed to harm the environment or the heritage that draws visitors to Wales. But even this can be controversi al territory. Plans to clear and green some of the remaining slagheaps aroun d Ebbw Vale are now being criticised for destroying the country's industrial heritage. Countries:- GBZ United Kingdom, EC. Industries:- P7999 Amusement and Recreation, NEC. P9611 Administration of General Economic Programs. Types:- CM MT Comment & Analysis. The Financial Times London Page 14 ============= Transaction # 76 ============================================== Transaction #: 76 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 50 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: FT922-4619 _AN-CFDA4AEIFT 9206 04 FT 04 JUN 92 / Rise in number of foreign tourists A TOTAL of 220,000 north Americans visited the UK in March the second-highest March figure ever. The total num ber of overseas visitors in the first three months of the year was 3.2m, a 1 4 per cent increase on the first quarter of last year, when tourism was hit by the Gulf war. The visitors who came in the first quarter spent Pounds 1.3 bn - also 14 per cent up on the same period last year. The Fina ncial Times London Page 10 ============= Transaction # 77 ============================================== Transaction #: 77 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 51 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: FT941-3493 _AN-ECQAKACIFT 9403 16 FT 16 MAR 94 / Curb wind farms, says tourist board By ROLAND ADBURGHAM, Wales and West Correspondent Restrictions on wind farms are backed by the Wales Tourist Boar d today in a strategy for tourism in the principality. The board says in its Tourism 2000 strategy document - to be launched today by Mr John Redwood, W elsh secretary: 'The quality of Wales's natural environment is one of the in dustry's greatest assets. 'Tourism 2000 recognises the need to conserve and enhance that environment and is concerned about threats which might impact u pon the industry, for example wind farms.' It endorses the policies of the C ountryside Council for Wales, which opposes wind farms in national parks and other designated areas. Wales has eight wind farms, about a third of the UK total, and planning consent is being sought for many more. But opposition f rom local authorities and residents is increasing because of the visual intr usion and noise of the turbines. The WTB says the strategy's overall aim 'is to achieve sustainable development which respects the needs of the environm ent and is sensitive to the aspirations of the host community'. The strategy hopes to create 10,000 jobs in the principality and a growth in earnings of Pounds 700m in current prices by the year 2000. Tourism employs about 95,00 0 people in Wales, or 9 per cent of the workforce, and contributes Pounds 1. 3bn, or 6 per cent, to the principality's gross domestic product. Wales is t he second most popular destination for UK holidaymakers after the West Count ry. But the board acknowledges: 'The image of Wales to potential new visitor s elsewhere in the UK remains somewhat problematical, while in overseas mark ets the image is insufficiently strong to get the country on to the shopping list of possible destinations.' It says there needs to be effective marketi ng, improvements in customer care, more investment to improve visitor satisf action and cleaner beaches. There is an urgent need to rationalise promotion al activities, 'reducing the proliferation of tourism literature'. Next mont h the board will introduce new grant schemes, including for the upgrading of hotels and guest houses and for conference facilities. Countri es:- GBZ United Kingdom, EC. Industries:- P4 911 Electric Services. P7999 Amusement and Recreation, NEC. T ypes:- RES Energy use. MGMT Management & Marketing.

The Financial Times London Page 11 ============= Transaction # 78 ============================================== Transaction #: 78 Transaction Code: 6 (Direct Rank Search) Terminal ID: 12781888 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: Mon Aug 23 12:15:22 1999 Rec. Format: Long Time Cmd Complete: Mon Aug 23 12:15:22 1999 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 @ {tourist violence})" ============= Transaction # 79 ============================================== Transaction #: 79 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 80 ============================================== Transaction #: 80 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-11047 _AN-EHBDUABRFT 940 802 FT 02 AUG 94 / Tourists return to more peaceful Egyp t By MARK NICHOLSON CAIRO Three months free of Islamic militant attacks on tourist ta rgets has encouraged a recovery in Egypt's tourist industry, with Cairo hote ls enjoying their highest occupancy rates in more than two years. Latest tou rism ministry figures show a 4.5 per cent rise in visitors in May against th e same month last year, the first overall rise since militant groups began a ttacks on tourist buses, cruise boats and other tourist targets in late 1992 . Hoteliers say the recovery has strengthened since then. The last attacks a gainst tourist targets came in March, when a few trains were raked with gunf ire as they passed through Assiut, a heartland of militant activity in south ern Egypt. A German tourist died from injuries after gunmen fired at a Nile cruiser passing by Assiut. Since April the government has repeatedly claimed its crackdown has succeeded in breaking the main militant groups, the Gamaa al-Islamiyya and Jihad, and prevented them operating outside their traditio nal strongholds in Upper Egypt. Mr Hassan al-Alfie, interior minister, said last week: 'We have managed to encircle them and put an end to the acts of v iolence.' Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic e, said during a recent visit to Egypt that he had 'every impression this wa s a situation which has been contained, understood, and dealt with'. The lul l in violence has encouraged tourism in Cairo, where five-star hotels report occupancy rates of between 85-90 per cent against an average of little over 50 per cent this time last year. 'There's been an extraordinarily good impr ovement,' said Mr Richard Bousfield, marketing director at the Cairo Semiram is Intercontinental. The bulk of Cairo's summer visitors are Gulf Arabs. Hot eliers and tour operators in Europe say it remains too early to forecast whe ther European, American and other tourists will return in large numbers duri ng the winter season, which begins in October. However, some hotels say prov isional tour bookings for next season are already twice what they were a yea r ago. 'Bookings are looking good; they're up for August and early September , and I sense already that European tour operators are beginning to respond, ' said Mr Armin Shrocker, manager of the Nile Hilton hotel. Egypt attracted a record 3.2m tourists in 1991-92 before the militant attacks, garnering har d-currency earnings calculated by the government at about Dollars 3bn (Pound s 1.9bn). It says the anti-tourism violence, designed by the Gamaa al-Islami yya militant group to attack the government by harming the economy, cost Dol lars 900m in lost revenues last year, hitting employment and investment in w hat had been Egypt's fastest-growing industry. However, diplomats and other commentators are cautious about forecasting an end to militant violence. Mor eover, the Egyptian government faces a considerable security test in early S eptember, when Cairo will attract around 20,000 participants, including prim e ministers, to the United Nations International Conference on Population an d Development. On Sunday the Gamaa al-Islamiyya broke a silence of more than two and a half months by issuing a faxed statement declaring it intended to step up violence in the Upper Egyptian town of Mallawi, 270km south of Cair o, where it claimed its members had ambushed and wounded two policemen. Countries:- EGZ Egypt, Africa. Industries:- < /XX> P7999 Amusement and Recreation, NEC. P7011 Hotels and Motels. P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. MKTS Sales. STATS Statistics. The Financial Times London Page 6 ============= Transaction # 81 ============================================== Transaction #: 81 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-11047 _AN-EHBDUABRFT 940 802 FT 02 AUG 94 / Tourists return to more peaceful Egyp t By MARK NICHOLSON CAIRO Three months free of Islamic militant attacks on tourist ta rgets has encouraged a recovery in Egypt's tourist industry, with Cairo hote ls enjoying their highest occupancy rates in more than two years. Latest tou rism ministry figures show a 4.5 per cent rise in visitors in May against th e same month last year, the first overall rise since militant groups began a ttacks on tourist buses, cruise boats and other tourist targets in late 1992 . Hoteliers say the recovery has strengthened since then. The last attacks a gainst tourist targets came in March, when a few trains were raked with gunf ire as they passed through Assiut, a heartland of militant activity in south ern Egypt. A German tourist died from injuries after gunmen fired at a Nile cruiser passing by Assiut. Since April the government has repeatedly claimed its crackdown has succeeded in breaking the main militant groups, the Gamaa al-Islamiyya and Jihad, and prevented them operating outside their traditio nal strongholds in Upper Egypt. Mr Hassan al-Alfie, interior minister, said last week: 'We have managed to encircle them and put an end to the acts of v iolence.' Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic e, said during a recent visit to Egypt that he had 'every impression this wa s a situation which has been contained, understood, and dealt with'. The lul l in violence has encouraged tourism in Cairo, where five-star hotels report occupancy rates of between 85-90 per cent against an average of little over 50 per cent this time last year. 'There's been an extraordinarily good impr ovement,' said Mr Richard Bousfield, marketing director at the Cairo Semiram is Intercontinental. The bulk of Cairo's summer visitors are Gulf Arabs. Hot eliers and tour operators in Europe say it remains too early to forecast whe ther European, American and other tourists will return in large numbers duri ng the winter season, which begins in October. However, some hotels say prov isional tour bookings for next season are already twice what they were a yea r ago. 'Bookings are looking good; they're up for August and early September , and I sense already that European tour operators are beginning to respond, ' said Mr Armin Shrocker, manager of the Nile Hilton hotel. Egypt attracted a record 3.2m tourists in 1991-92 before the militant attacks, garnering har d-currency earnings calculated by the government at about Dollars 3bn (Pound s 1.9bn). It says the anti-tourism violence, designed by the Gamaa al-Islami yya militant group to attack the government by harming the economy, cost Dol lars 900m in lost revenues last year, hitting employment and investment in w hat had been Egypt's fastest-growing industry. However, diplomats and other commentators are cautious about forecasting an end to militant violence. Mor eover, the Egyptian government faces a considerable security test in early S eptember, when Cairo will attract around 20,000 participants, including prim e ministers, to the United Nations International Conference on Population an d Development. On Sunday the Gamaa al-Islamiyya broke a silence of more than two and a half months by issuing a faxed statement declaring it intended to step up violence in the Upper Egyptian town of Mallawi, 270km south of Cair o, where it claimed its members had ambushed and wounded two policemen. Countries:- EGZ Egypt, Africa. Industries:- < /XX> P7999 Amusement and Recreation, NEC. P7011 Hotels and Motels. P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. MKTS Sales. STATS Statistics. The Financial Times London Page 6 ============= Transaction # 82 ============================================== Transaction #: 82 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-11047 _AN-EHBDUABRFT 940 802 FT 02 AUG 94 / Tourists return to more peaceful Egyp t By MARK NICHOLSON CAIRO Three months free of Islamic militant attacks on tourist ta rgets has encouraged a recovery in Egypt's tourist industry, with Cairo hote ls enjoying their highest occupancy rates in more than two years. Latest tou rism ministry figures show a 4.5 per cent rise in visitors in May against th e same month last year, the first overall rise since militant groups began a ttacks on tourist buses, cruise boats and other tourist targets in late 1992 . Hoteliers say the recovery has strengthened since then. The last attacks a gainst tourist targets came in March, when a few trains were raked with gunf ire as they passed through Assiut, a heartland of militant activity in south ern Egypt. A German tourist died from injuries after gunmen fired at a Nile cruiser passing by Assiut. Since April the government has repeatedly claimed its crackdown has succeeded in breaking the main militant groups, the Gamaa al-Islamiyya and Jihad, and prevented them operating outside their traditio nal strongholds in Upper Egypt. Mr Hassan al-Alfie, interior minister, said last week: 'We have managed to encircle them and put an end to the acts of v iolence.' Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic e, said during a recent visit to Egypt that he had 'every impression this wa s a situation which has been contained, understood, and dealt with'. The lul l in violence has encouraged tourism in Cairo, where five-star hotels report occupancy rates of between 85-90 per cent against an average of little over 50 per cent this time last year. 'There's been an extraordinarily good impr ovement,' said Mr Richard Bousfield, marketing director at the Cairo Semiram is Intercontinental. The bulk of Cairo's summer visitors are Gulf Arabs. Hot eliers and tour operators in Europe say it remains too early to forecast whe ther European, American and other tourists will return in large numbers duri ng the winter season, which begins in October. However, some hotels say prov isional tour bookings for next season are already twice what they were a yea r ago. 'Bookings are looking good; they're up for August and early September , and I sense already that European tour operators are beginning to respond, ' said Mr Armin Shrocker, manager of the Nile Hilton hotel. Egypt attracted a record 3.2m tourists in 1991-92 before the militant attacks, garnering har d-currency earnings calculated by the government at about Dollars 3bn (Pound s 1.9bn). It says the anti-tourism violence, designed by the Gamaa al-Islami yya militant group to attack the government by harming the economy, cost Dol lars 900m in lost revenues last year, hitting employment and investment in w hat had been Egypt's fastest-growing industry. However, diplomats and other commentators are cautious about forecasting an end to militant violence. Mor eover, the Egyptian government faces a considerable security test in early S eptember, when Cairo will attract around 20,000 participants, including prim e ministers, to the United Nations International Conference on Population an d Development. On Sunday the Gamaa al-Islamiyya broke a silence of more than two and a half months by issuing a faxed statement declaring it intended to step up violence in the Upper Egyptian town of Mallawi, 270km south of Cair o, where it claimed its members had ambushed and wounded two policemen. Countries:- EGZ Egypt, Africa. Industries:- < /XX> P7999 Amusement and Recreation, NEC. P7011 Hotels and Motels. P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. MKTS Sales. STATS Statistics. The Financial Times London Page 6 ============= Transaction # 83 ============================================== Transaction #: 83 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-8062 _AN-CKMB5AAZFT 9211 13 FT 13 NOV 92 / German tourists attacked in Egypt By REUTER CAIRO FIVE German tourists and two Egyptians were wounded yesterday when gunmen described by police as Moslem militants opened fire on their bus in Qena in the southern Nile valley, Reuter reports from Cairo. It was the fourth seri ous attack on tourists since Moslem militants fighting an underground war wi th the government warned in September that tourists would not be safe in Qen a province, site of some of Egypt's most famous Pharaonic temples and tombs. An interior ministry statement blamed 'extremist elements,' the authorities ' usual term for Moslem militants. It said five Germans, the Egyptian driver and an Egyptian passer-by had been injured. The government has reacted vigo rously to the spate of attacks on tourists, promising to fly helicopter patr ols over tourist areas and vowing even tougher police measures against the m ilitants. This week it announced that all mosques would be put under state c ontrol and police rounded up 150 militants in the province of Assiut, the pr ovince north of Qena and the main theatre of militant violence. Officials ex pect 4m tourists to visit Egypt in the year to July 1993, earning the countr y Dollars 4bn. El-Gama'a el-Islamiya (the Islamic Group) has claimed respons ibility for three previous attacks on tourists. The Financial T imes London Page 4 ============= Transaction # 84 ============================================== Transaction #: 84 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT921-13393 _AN-CAVBGAAZFT 920 122 FT 22 JAN 92 / Brazil launches drive to boost touris t industry By CHRISTINA LAMB RIO DE JANEIRO BRAZIL is launching an aggressive marketi ng campaign to recuperate its flagging tourist industry. Mr Ronaldo de Monte Rosa, head of Embratur, the state tourist authority, plans to double the nu mber of tourists and increase income from Dollars 1.4bn to Dollars 3bn (Poun ds 1.6bn) over the next five years. 'I want to seize the opportunity of the Earth Summit (to be hosted by Rio in June) to relaunch Brazil as a tourist d estination,' he says. To encourage investment, credit lines have been made a vailable by the National Development Bank. Tourism is to be declared an indu stry, giving investors incentives in terms of reduced import tariffs and ene rgy rates. Brazil might seem to be the ideal tourist location: 4,600 miles o f beaches, the world's largest rainforest. But in the past five years, the n umber of tourists has fallen from 2m to 1.08m, as potential visitors are det erred by social problems caused by economic crisis. Embratur has decided to fight back against the wave of bad publicity focusing on Rio's violence by s etting up offices overseas to inform the world about the Indian reserves and Brazilian food and music. Mr Monte Rosa's aims are to rescue Rio and show t he world what else Brazil has to offer, 'focusing on the north east and Amaz onia'. Despite Brazil's many natural advantages, this is no easy task. Mr Mo nte Rosa has finally persuaded Rio's state government to invest in a 'securi ty for tourists' programme, by showing that it has lost Dollars 400m a year for the past five years in tourism revenue. But he would like to divert tour ists to Amazonia and the north-east, Brazil's poorest but most scenic and cu lturally rich area. The Financial Times London Pa ge 4 ============= Transaction # 85 ============================================== Transaction #: 85 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-16493 _AN-DDFCIABMFT 930 406 FT 06 APR 93 / Kenya's tourist industry suffers big fall in revenue By REUTER NA IROBI TOURISM in Kenya dropped sharply last year, reducin g hard currency revenues from the industry to Dollars 295m from Dollars 400m (Pounds 195m from Pounds 266m) in 1991, a government official said yesterda y, Reuter reports from Nairobi. Mr Philemon Mwaisaka, permanent secretary at the ministry of tourism, blamed the sharp downturn in visits to safari park s or Indian Ocean beaches on reports in western countries, where most visito rs come from, about attacks on tourists, tribal violence and political unres t. 'Imagined insecurity in Kenya had convinced European-based tourists that the country was not safe,' he said. The run-up to December's first multi-par ty polls in 26 years was marred by tribal violence. This, coupled with bandi t attacks on tourists, led to a fall in hotel bookings of up to 60,000 bed-n ights in the last five months of 1992, tourism officials say. Last year, som e 700,000 tourists visited Kenya after a record 814,000 in 1991. But many, e nticed by cheap bucket-shop deals, kept their wallets closed while in the co untry. Mr Mwaisaka said the government was fighting back with a vigorous cam paign to revitalise the industry and woo visitors. He said security in natio nal parks would be stepped up, more roads would be built and accommodation w ould be improved. 'Protection of endangered species like elephants and rhino s has received priority,' he added. 'Poaching has been reduced to almost zer o and an elaborate security network put in place to ensure tourists' safety and increased comfort,' he added. The government has also begun aerial surve illance of game parks and issued advice about which areas of Nairobi are con sidered dangerous. Fears for the safety of tourists have been fuelled by att acks in game parks, particularly the Masai Mara reserve. Germany and the US have warned their nationals not to go to parks while Britain and Australia h ave cautioned against travel in parks when unaccompanied by rangers. Kenya, which rejected International Monetary Fund and World Bank-backed reforms las t month, badly needs tourists to help purchase essential imports and service a Dollars 7.1bn foreign debt. President Daniel arap Moi, angered over an IM F refusal to reinstate critical balance of payments support of around Dollar s 40m a month, two weeks ago called a halt to liberalisation policies and sa id Kenya would go its own way. Countries:- KEZ Kenya , Africa. Industries:- P9311 Finance, Taxation, and Mon etary Policy. P9611 Administration of General Economic Programs. < XX> Types:- GOVT Government News. The Financial Times London Page 6 ============= Transaction # 86 ============================================== Transaction #: 86 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-16493 _AN-DDFCIABMFT 930 406 FT 06 APR 93 / Kenya's tourist industry suffers big fall in revenue By REUTER NA IROBI TOURISM in Kenya dropped sharply last year, reducin g hard currency revenues from the industry to Dollars 295m from Dollars 400m (Pounds 195m from Pounds 266m) in 1991, a government official said yesterda y, Reuter reports from Nairobi. Mr Philemon Mwaisaka, permanent secretary at the ministry of tourism, blamed the sharp downturn in visits to safari park s or Indian Ocean beaches on reports in western countries, where most visito rs come from, about attacks on tourists, tribal violence and political unres t. 'Imagined insecurity in Kenya had convinced European-based tourists that the country was not safe,' he said. The run-up to December's first multi-par ty polls in 26 years was marred by tribal violence. This, coupled with bandi t attacks on tourists, led to a fall in hotel bookings of up to 60,000 bed-n ights in the last five months of 1992, tourism officials say. Last year, som e 700,000 tourists visited Kenya after a record 814,000 in 1991. But many, e nticed by cheap bucket-shop deals, kept their wallets closed while in the co untry. Mr Mwaisaka said the government was fighting back with a vigorous cam paign to revitalise the industry and woo visitors. He said security in natio nal parks would be stepped up, more roads would be built and accommodation w ould be improved. 'Protection of endangered species like elephants and rhino s has received priority,' he added. 'Poaching has been reduced to almost zer o and an elaborate security network put in place to ensure tourists' safety and increased comfort,' he added. The government has also begun aerial surve illance of game parks and issued advice about which areas of Nairobi are con sidered dangerous. Fears for the safety of tourists have been fuelled by att acks in game parks, particularly the Masai Mara reserve. Germany and the US have warned their nationals not to go to parks while Britain and Australia h ave cautioned against travel in parks when unaccompanied by rangers. Kenya, which rejected International Monetary Fund and World Bank-backed reforms las t month, badly needs tourists to help purchase essential imports and service a Dollars 7.1bn foreign debt. President Daniel arap Moi, angered over an IM F refusal to reinstate critical balance of payments support of around Dollar s 40m a month, two weeks ago called a halt to liberalisation policies and sa id Kenya would go its own way. Countries:- KEZ Kenya , Africa. Industries:- P9311 Finance, Taxation, and Mon etary Policy. P9611 Administration of General Economic Programs. < XX> Types:- GOVT Government News. The Financial Times London Page 6 ============= Transaction # 87 ============================================== Transaction #: 87 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-16493 _AN-DDFCIABMFT 930 406 FT 06 APR 93 / Kenya's tourist industry suffers big fall in revenue By REUTER NA IROBI TOURISM in Kenya dropped sharply last year, reducin g hard currency revenues from the industry to Dollars 295m from Dollars 400m (Pounds 195m from Pounds 266m) in 1991, a government official said yesterda y, Reuter reports from Nairobi. Mr Philemon Mwaisaka, permanent secretary at the ministry of tourism, blamed the sharp downturn in visits to safari park s or Indian Ocean beaches on reports in western countries, where most visito rs come from, about attacks on tourists, tribal violence and political unres t. 'Imagined insecurity in Kenya had convinced European-based tourists that the country was not safe,' he said. The run-up to December's first multi-par ty polls in 26 years was marred by tribal violence. This, coupled with bandi t attacks on tourists, led to a fall in hotel bookings of up to 60,000 bed-n ights in the last five months of 1992, tourism officials say. Last year, som e 700,000 tourists visited Kenya after a record 814,000 in 1991. But many, e nticed by cheap bucket-shop deals, kept their wallets closed while in the co untry. Mr Mwaisaka said the government was fighting back with a vigorous cam paign to revitalise the industry and woo visitors. He said security in natio nal parks would be stepped up, more roads would be built and accommodation w ould be improved. 'Protection of endangered species like elephants and rhino s has received priority,' he added. 'Poaching has been reduced to almost zer o and an elaborate security network put in place to ensure tourists' safety and increased comfort,' he added. The government has also begun aerial surve illance of game parks and issued advice about which areas of Nairobi are con sidered dangerous. Fears for the safety of tourists have been fuelled by att acks in game parks, particularly the Masai Mara reserve. Germany and the US have warned their nationals not to go to parks while Britain and Australia h ave cautioned against travel in parks when unaccompanied by rangers. Kenya, which rejected International Monetary Fund and World Bank-backed reforms las t month, badly needs tourists to help purchase essential imports and service a Dollars 7.1bn foreign debt. President Daniel arap Moi, angered over an IM F refusal to reinstate critical balance of payments support of around Dollar s 40m a month, two weeks ago called a halt to liberalisation policies and sa id Kenya would go its own way. Countries:- KEZ Kenya , Africa. Industries:- P9311 Finance, Taxation, and Mon etary Policy. P9611 Administration of General Economic Programs. < XX> Types:- GOVT Government News. The Financial Times London Page 6 ============= Transaction # 88 ============================================== Transaction #: 88 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT931-887 _AN-DC1AGAB7FT 93032 7 FT 27 MAR 93 / When terror takes a toll: How internati onal tourist destinations are affected by political violence By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON A year ago, the Cairo Sheraton hotel was 75 per cent full. This month, 41 per cent of its rooms are occupied. Some Cairo hotels are just over a third full. One five-star hotel is charging only Dollars 28 a room. The Gama'a al- Islamiyya, the Islamic militant group which is seeking to destabilise the Eg yptian government, has deliberately targeted the country's tourist industry. Late last year, gunmen shot at tour buses in Upper Egypt, killing one Briti sh visitor. Earlier this year, two visitors were killed when a bomb exploded in a cafe in Cairo's Tahrir Square. Mr Fouad Sultan, the tourism minister, says earnings are down by a fifth on last year. Many in the industry conside r that an underestimate. The tourist ministry has hired Burson-Marsteller, t he world's biggest public relations company, and Saatchi & Saatchi to help i mprove the country's image. While terrorism and the murder of foreign visito rs can substantially damage a nation's tourism, the effect differs widely fr om country to country. As Egypt agonises over how to salvage its fastest gro wing industry and biggest foreign currency earner, the tourist businesses of other countries have been largely unaffected by terrorist and criminal viol ence. Third world destinations appear to suffer more than developed countrie s from attacks on tourists. Kenyan tourism was badly hit last year as a resu lt of publicity surrounding the trial of two game rangers accused of the mur der of British tourist Julie Ward in 1988, and by reports of other attacks o n tourists. By contrast, the murder of a British visitor in Florida last yea r had little effect on the state's tourism. Thomson, the UK's biggest travel group, said that while the depreciation of the pound against the dollar had deterred some British travellers, reports of violence had little effect. Si milarly, Egyptian tourism has been much more severely affected by terrorist incidents than the industries in the UK or the US. Despite years of widely-r eported deaths and injuries from IRA bombs, the British tourist industry has suffered little long-term damage. Mr Alan Jefferson, the British Tourist Au thority's international marketing director, says his offices abroad usually receive no more than a handful of calls after IRA attacks. One New York trav el agent said that, while some US tourists about to leave for the UK had ask ed about recent IRA bombs, they had decided to go ahead with their trips. Th e UK tourist industry has been more severely affected by events elsewhere. T he US bombing of Libya in 1986 contributed to a 4 per cent fall in visitors to 13.9m, as Americans, fearing terrorist reprisals, stayed at home. The Gul f War resulted in tourists to the UK falling to 16.7m in 1991, from 18m the year before. In the US, the bombing of New York's World Trade Centre last mo nth produced 'no significant cancellations', according to the city's Convent ion and Visitors Bureau. Airlines servicing the New York area also say that there has been very little impact on passenger traffic. The National Parks S ervice reports that the number of visitors to New York attractions such as t he Statue of Liberty and Ellis Island ran at about 3,500-4,000 daily during February, a typical number for the month. While tourist destinations such as Egypt and Kenya might feel they are the victims of double standards, travel industry executives say they suffer from a perception that they are societi es under siege. The futures of the US and British governments are not percei ved as being threatened by violent crime or terrorism. Although the IRA has bombed areas frequented by tourists, foreign visitors to the UK have not bee n specific targets as they have in Egypt. Mr Peter Kerkar, chief executive o f Cox & Kings Travel, a London-based company, argues that American visitors to the UK are behaving quite logically in ignoring IRA attacks but staying a t home during the Gulf War and in the wake of the bombing of Libya. 'The IRA is not singling out Americans. If they're involved in an IRA incident, it's because of bad luck. In the case of Libya, Americans were a target.' One Br itish travel industry manager points out that Florida, while plagued by viol ent crime, offers tourists a sense of safety, however illusory, that countri es such as Kenya and Egypt do not. 'America is familiar territory, where eve ryone speaks the same language and where half the TV programmes are the ones you see at home.' Mr Martin Brackenbury, president of the International Fed eration of Tour Operators, says there are a few general principles which cou ntries can apply when attempting to limit the damage caused to tourism by vi olence. 'The first is: never attempt to cover up. Clearly admit a problem if there is one. The second is to put in place measures which can clearly be s een to be effective,' he says. He says Kenya has responded constructively to Ifto recommendations. The Kenyan government has begun aerial surveillance o f game parks and has issued advice about which areas of Nairobi are consider ed dangerous. Mr Martin Thompson, managing director of the London-based tour operator Abercrombie & Kent, says his business to Kenya fell to 30,000 trav ellers last year from 34,000 in 1991 as a result of press coverage of violen ce in the country. However, he expects business to return to 1991 levels thi s year. The Egyptian authorities, after initially criticising the western me dia for what it described as a biased, exaggerated campaign, is now taking a ctive steps to restore the country's image. It has supplied more tourist pol ice, troops and helicopters to protect visitors at sites in Upper Egypt. Bot h the government and the country's tourism industry are now hoping that this iron-fisted policy will stem the terrorist attacks. Mr Taher el-Sharif, cha irman of the Egyptian Businessman's Association says: 'The problem is we jus t don't know when this will stop - unlike the Gulf War, when we knew there w ould eventually be an end.' Mr Brackenbury says that once a destination is p erceived as being safer, recovery for the tourist industry can be swift. 'Pe ople's memories are short,' he says. Reporting by Michael Skapinker, Nikki T ait and Mark Nicholson Countries:- XAZ World. Industries:- P7999 Amusement and Recreation, NEC. Types:- IND Industry profile. MKTS Shipments. GOVT Lega l issues. The Financial Times London Page 9 ============= Transaction # 89 ============================================== Transaction #: 89 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-12228 _AN-DGZB2AARFT 930 726 FT 26 JUL 93 / Four hurt in Turk bombing By Agencies A BOMB injured three foreign touri sts and a Turk at a tourist site in central Istanbul, yesterday, agencies re port. It was not immediately clear whether the blast was connected with thre ats by the separatist Kurdistan Workers' Party (PKK) to attack Turkish touri st sites. But it coincided with other violence blamed on the PKK. Armed PKK rebels meanwhile kidnapped four French tourists from a bus in south-eastern Turkey. In another incident, a mine planted on a railway exploded near the t own of Bingol, derailing a passenger train. Two soldiers protecting the trai n were killed and three other people on board were injured. Officials blamed the PKK for the attack. Police said the Istanbul bomb had been left in a li tter basket under an automated bank teller machine near the sixth-century Ha ghia Sophia Cathedral. The tourists, two of them Italians, and the Turk were all slightly injured. No damage was reported to the Haghia Sophia, one of t he world's most celebrated monuments of Byzantine architecture. Countries:- TRZ Turkey, Middle East. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 3 < /PAGE> ============= Transaction # 90 ============================================== Transaction #: 90 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-12197 _AN-CJVB5AA9FT 921 022 FT 22 OCT 92 / British tourist killed by gunmen on E gypt tour By TONY WALKER CAI RO A BRITISH tourist was killed and two wounded yesterday when gunmen opened fire on a tour bus near the southern Egyptian town of As siut - a hotbed of Islamic extremism. An official in Assiut said the woman t ourist had died of wounds in hospital. The incident could hardly be a worse advertisement for Egypt's lucrative tourist industry expected to be worth so me Dollars 3bn this year. Tourism is easily the hard-pressed country's main foreign exchange earner. Yesterday's shooting followed a similar episode ear lier this month when Moslem militants fired automatic weapons at a Nile crui ser with German tourists on board. Egyptian police said that gunmen ambushed the tour bus near the town of Dayrut, some 270km south of Cairo. Dayrut has , for months, been the focus of a bitter feud between Islamic militants and security forces, marked by persistent violence. The Egyptian government has been battling a resurgent Islamic movement whose activities were brought int o sharper focus by the recent earthquake, with the authorities accusing fund amentalists of seeking to exploit the tragedy for political purposes. Distur bances on the streets of Cairo last weekend, apparently inspired by Islamic militants and in which government relief efforts were openly criticised, hav e been regarded as an ominous development. The Financial Times London Page 4 ============= Transaction # 91 ============================================== Transaction #: 91 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-12228 _AN-DGZB2AARFT 930 726 FT 26 JUL 93 / Four hurt in Turk bombing By Agencies A BOMB injured three foreign touri sts and a Turk at a tourist site in central Istanbul, yesterday, agencies re port. It was not immediately clear whether the blast was connected with thre ats by the separatist Kurdistan Workers' Party (PKK) to attack Turkish touri st sites. But it coincided with other violence blamed on the PKK. Armed PKK rebels meanwhile kidnapped four French tourists from a bus in south-eastern Turkey. In another incident, a mine planted on a railway exploded near the t own of Bingol, derailing a passenger train. Two soldiers protecting the trai n were killed and three other people on board were injured. Officials blamed the PKK for the attack. Police said the Istanbul bomb had been left in a li tter basket under an automated bank teller machine near the sixth-century Ha ghia Sophia Cathedral. The tourists, two of them Italians, and the Turk were all slightly injured. No damage was reported to the Haghia Sophia, one of t he world's most celebrated monuments of Byzantine architecture. Countries:- TRZ Turkey, Middle East. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 3 < /PAGE> ============= Transaction # 92 ============================================== Transaction #: 92 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-12228 _AN-DGZB2AARFT 930 726 FT 26 JUL 93 / Four hurt in Turk bombing By Agencies A BOMB injured three foreign touri sts and a Turk at a tourist site in central Istanbul, yesterday, agencies re port. It was not immediately clear whether the blast was connected with thre ats by the separatist Kurdistan Workers' Party (PKK) to attack Turkish touri st sites. But it coincided with other violence blamed on the PKK. Armed PKK rebels meanwhile kidnapped four French tourists from a bus in south-eastern Turkey. In another incident, a mine planted on a railway exploded near the t own of Bingol, derailing a passenger train. Two soldiers protecting the trai n were killed and three other people on board were injured. Officials blamed the PKK for the attack. Police said the Istanbul bomb had been left in a li tter basket under an automated bank teller machine near the sixth-century Ha ghia Sophia Cathedral. The tourists, two of them Italians, and the Turk were all slightly injured. No damage was reported to the Haghia Sophia, one of t he world's most celebrated monuments of Byzantine architecture. Countries:- TRZ Turkey, Middle East. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 3 < /PAGE> ============= Transaction # 93 ============================================== Transaction #: 93 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-12228 _AN-DGZB2AARFT 930 726 FT 26 JUL 93 / Four hurt in Turk bombing By Agencies A BOMB injured three foreign touri sts and a Turk at a tourist site in central Istanbul, yesterday, agencies re port. It was not immediately clear whether the blast was connected with thre ats by the separatist Kurdistan Workers' Party (PKK) to attack Turkish touri st sites. But it coincided with other violence blamed on the PKK. Armed PKK rebels meanwhile kidnapped four French tourists from a bus in south-eastern Turkey. In another incident, a mine planted on a railway exploded near the t own of Bingol, derailing a passenger train. Two soldiers protecting the trai n were killed and three other people on board were injured. Officials blamed the PKK for the attack. Police said the Istanbul bomb had been left in a li tter basket under an automated bank teller machine near the sixth-century Ha ghia Sophia Cathedral. The tourists, two of them Italians, and the Turk were all slightly injured. No damage was reported to the Haghia Sophia, one of t he world's most celebrated monuments of Byzantine architecture. Countries:- TRZ Turkey, Middle East. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 3 < /PAGE> ============= Transaction # 94 ============================================== Transaction #: 94 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT931-887 _AN-DC1AGAB7FT 93032 7 FT 27 MAR 93 / When terror takes a toll: How internati onal tourist destinations are affected by political violence By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON A year ago, the Cairo Sheraton hotel was 75 per cent full. This month, 41 per cent of its rooms are occupied. Some Cairo hotels are just over a third full. One five-star hotel is charging only Dollars 28 a room. The Gama'a al- Islamiyya, the Islamic militant group which is seeking to destabilise the Eg yptian government, has deliberately targeted the country's tourist industry. Late last year, gunmen shot at tour buses in Upper Egypt, killing one Briti sh visitor. Earlier this year, two visitors were killed when a bomb exploded in a cafe in Cairo's Tahrir Square. Mr Fouad Sultan, the tourism minister, says earnings are down by a fifth on last year. Many in the industry conside r that an underestimate. The tourist ministry has hired Burson-Marsteller, t he world's biggest public relations company, and Saatchi & Saatchi to help i mprove the country's image. While terrorism and the murder of foreign visito rs can substantially damage a nation's tourism, the effect differs widely fr om country to country. As Egypt agonises over how to salvage its fastest gro wing industry and biggest foreign currency earner, the tourist businesses of other countries have been largely unaffected by terrorist and criminal viol ence. Third world destinations appear to suffer more than developed countrie s from attacks on tourists. Kenyan tourism was badly hit last year as a resu lt of publicity surrounding the trial of two game rangers accused of the mur der of British tourist Julie Ward in 1988, and by reports of other attacks o n tourists. By contrast, the murder of a British visitor in Florida last yea r had little effect on the state's tourism. Thomson, the UK's biggest travel group, said that while the depreciation of the pound against the dollar had deterred some British travellers, reports of violence had little effect. Si milarly, Egyptian tourism has been much more severely affected by terrorist incidents than the industries in the UK or the US. Despite years of widely-r eported deaths and injuries from IRA bombs, the British tourist industry has suffered little long-term damage. Mr Alan Jefferson, the British Tourist Au thority's international marketing director, says his offices abroad usually receive no more than a handful of calls after IRA attacks. One New York trav el agent said that, while some US tourists about to leave for the UK had ask ed about recent IRA bombs, they had decided to go ahead with their trips. Th e UK tourist industry has been more severely affected by events elsewhere. T he US bombing of Libya in 1986 contributed to a 4 per cent fall in visitors to 13.9m, as Americans, fearing terrorist reprisals, stayed at home. The Gul f War resulted in tourists to the UK falling to 16.7m in 1991, from 18m the year before. In the US, the bombing of New York's World Trade Centre last mo nth produced 'no significant cancellations', according to the city's Convent ion and Visitors Bureau. Airlines servicing the New York area also say that there has been very little impact on passenger traffic. The National Parks S ervice reports that the number of visitors to New York attractions such as t he Statue of Liberty and Ellis Island ran at about 3,500-4,000 daily during February, a typical number for the month. While tourist destinations such as Egypt and Kenya might feel they are the victims of double standards, travel industry executives say they suffer from a perception that they are societi es under siege. The futures of the US and British governments are not percei ved as being threatened by violent crime or terrorism. Although the IRA has bombed areas frequented by tourists, foreign visitors to the UK have not bee n specific targets as they have in Egypt. Mr Peter Kerkar, chief executive o f Cox & Kings Travel, a London-based company, argues that American visitors to the UK are behaving quite logically in ignoring IRA attacks but staying a t home during the Gulf War and in the wake of the bombing of Libya. 'The IRA is not singling out Americans. If they're involved in an IRA incident, it's because of bad luck. In the case of Libya, Americans were a target.' One Br itish travel industry manager points out that Florida, while plagued by viol ent crime, offers tourists a sense of safety, however illusory, that countri es such as Kenya and Egypt do not. 'America is familiar territory, where eve ryone speaks the same language and where half the TV programmes are the ones you see at home.' Mr Martin Brackenbury, president of the International Fed eration of Tour Operators, says there are a few general principles which cou ntries can apply when attempting to limit the damage caused to tourism by vi olence. 'The first is: never attempt to cover up. Clearly admit a problem if there is one. The second is to put in place measures which can clearly be s een to be effective,' he says. He says Kenya has responded constructively to Ifto recommendations. The Kenyan government has begun aerial surveillance o f game parks and has issued advice about which areas of Nairobi are consider ed dangerous. Mr Martin Thompson, managing director of the London-based tour operator Abercrombie & Kent, says his business to Kenya fell to 30,000 trav ellers last year from 34,000 in 1991 as a result of press coverage of violen ce in the country. However, he expects business to return to 1991 levels thi s year. The Egyptian authorities, after initially criticising the western me dia for what it described as a biased, exaggerated campaign, is now taking a ctive steps to restore the country's image. It has supplied more tourist pol ice, troops and helicopters to protect visitors at sites in Upper Egypt. Bot h the government and the country's tourism industry are now hoping that this iron-fisted policy will stem the terrorist attacks. Mr Taher el-Sharif, cha irman of the Egyptian Businessman's Association says: 'The problem is we jus t don't know when this will stop - unlike the Gulf War, when we knew there w ould eventually be an end.' Mr Brackenbury says that once a destination is p erceived as being safer, recovery for the tourist industry can be swift. 'Pe ople's memories are short,' he says. Reporting by Michael Skapinker, Nikki T ait and Mark Nicholson Countries:- XAZ World. Industries:- P7999 Amusement and Recreation, NEC. Types:- IND Industry profile. MKTS Shipments. GOVT Lega l issues. The Financial Times London Page 9 ============= Transaction # 95 ============================================== Transaction #: 95 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-12228 _AN-DGZB2AARFT 930 726 FT 26 JUL 93 / Four hurt in Turk bombing By Agencies A BOMB injured three foreign touri sts and a Turk at a tourist site in central Istanbul, yesterday, agencies re port. It was not immediately clear whether the blast was connected with thre ats by the separatist Kurdistan Workers' Party (PKK) to attack Turkish touri st sites. But it coincided with other violence blamed on the PKK. Armed PKK rebels meanwhile kidnapped four French tourists from a bus in south-eastern Turkey. In another incident, a mine planted on a railway exploded near the t own of Bingol, derailing a passenger train. Two soldiers protecting the trai n were killed and three other people on board were injured. Officials blamed the PKK for the attack. Police said the Istanbul bomb had been left in a li tter basket under an automated bank teller machine near the sixth-century Ha ghia Sophia Cathedral. The tourists, two of them Italians, and the Turk were all slightly injured. No damage was reported to the Haghia Sophia, one of t he world's most celebrated monuments of Byzantine architecture. Countries:- TRZ Turkey, Middle East. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 3 < /PAGE> ============= Transaction # 96 ============================================== Transaction #: 96 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-12197 _AN-CJVB5AA9FT 921 022 FT 22 OCT 92 / British tourist killed by gunmen on E gypt tour By TONY WALKER CAI RO A BRITISH tourist was killed and two wounded yesterday when gunmen opened fire on a tour bus near the southern Egyptian town of As siut - a hotbed of Islamic extremism. An official in Assiut said the woman t ourist had died of wounds in hospital. The incident could hardly be a worse advertisement for Egypt's lucrative tourist industry expected to be worth so me Dollars 3bn this year. Tourism is easily the hard-pressed country's main foreign exchange earner. Yesterday's shooting followed a similar episode ear lier this month when Moslem militants fired automatic weapons at a Nile crui ser with German tourists on board. Egyptian police said that gunmen ambushed the tour bus near the town of Dayrut, some 270km south of Cairo. Dayrut has , for months, been the focus of a bitter feud between Islamic militants and security forces, marked by persistent violence. The Egyptian government has been battling a resurgent Islamic movement whose activities were brought int o sharper focus by the recent earthquake, with the authorities accusing fund amentalists of seeking to exploit the tragedy for political purposes. Distur bances on the streets of Cairo last weekend, apparently inspired by Islamic militants and in which government relief efforts were openly criticised, hav e been regarded as an ominous development. The Financial Times London Page 4 ============= Transaction # 97 ============================================== Transaction #: 97 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 8 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: FT931-4450 _AN-DCKCYABAFT 9303 11 FT 11 MAR 93 / Egyptian crackdown leaves 14 militants dead By MARK NICHOLSON CAIR O EGYPTIAN security forces have shot and killed 14 allege d militants in a bloody two-day crackdown on Islamic groups behind recent at tacks on tourists. At least four policemen, a woman and a child also died in the raids - among the bloodiest clashes in Egypt in a decade. Thirteen peop le died in shootouts in and around Cairo yesterday as police and special ope rations officers launched nine dawn raids on alleged Islamic militant hideou ts. A further seven alleged militants died in a clash on Tuesday night after police surrounded a mosque in Aswan, the popular tourist resort in Upper Eg ypt. The incident is only the second in Aswan since the recent spate of viol ence in Egypt. Two police officers guarding a church were shot dead by milit ants on March 6 and Tuesday's raid appears to have followed a tough police r esponse to the attacks. The police crackdown is the harshest and most violen t yet in the government's continuing fight against the Gama'a al-Islamiyya, the shadowy Islamic militant group which claims to be behind recent attacks on tourists. There have been few more violent clashes between police and all eged extremists since the aftermath of President Sadat's assassination in 19 81. Police have rounded up hundreds, and possibly thousands of alleged Gama' a al-Islamiyya activists since attacks on tourists began last summer and cla shes between militants and police have been sustained at a low level over th e past several months leaving, by some estimates, 15 dead and 33 wounded bef ore the last two days' violence. But yesterday's raids appear to signal a ne w resolve within the government to bear down even more heavily on the milita nt groups, whose attacks on foreign visitors have devastated the country's t ourism industry. Cancellations are estimated by the government to be costing Dollars 70m (Pounds 49m) a month. President Hosni Mubarak said in a recent US newspaper interview that he was prepared to use a 'very heavy hand' again st the Islamic militants. Saying that he believed their attacks had peaked, he nevertheless told the Washington Post: 'I'll be very strict with them. I' m very strict with these people for the sake of the country and the people.' An Interior Ministry statement yesterday said that the series of raids, whi ch took place in central, northern and western Cairo, led to several arrests , including that of two un-named men claimed to be among the 'top leadership ' of the Gama'a al-Islamiyya. The ministry said several guns and explosives were also seized. Countries:- EGZ Egypt, Africa. Industries:- P9229 Public Order and Safety, NEC. Types:- PEOP Personnel News. GOVT Legal issues. The Financial Times London Page 6 ============= Transaction # 98 ============================================== Transaction #: 98 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 9 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: FT921-6602 _AN-CB0CIABFFT 9202 27 FT 27 FEB 92 / Rio business protests at rising crime By CHRISTINA LAMB RIO DE JAN EIRO THOUSANDS of Rio's hoteliers, shopkeepers, businessm en and tourist agents held a demonstration along Copacabana beach yesterday to protest against the resort's increasing violence, which, they say, is des troying its tourist industry. Since 1987, the number of tourists visiting Br azil has plummetted from almost 2m to 800,000, largely because of Rio's spir alling crime rate. As a result, Rio has suffered an estimated Dollars 400m l oss in revenue, according to Mr Ronaldo Monterosa, president of Embratur, th e Brazilian tourist authority. 'Over the last five years we have watched tou rism collapse,' said Mr Philip Carruthers, general manager of the Copacabana Palace hotel and president of the Association of Hoteliers. 'Occupancy of f ive-star hotels in peak months has fallen from 97 per cent to 63 per cent. T he main reason is Rio's appalling image, which is based on a fundamental rea lity - complete lack of security.' He complained that his hotel staff have t o prevent guests leaving the hotel with cameras, jewellery or watches becaus e of the 'complete ineffectiveness' of the police. 'The police here are part of the problem rather than the solution.' Immediately after the press confe rence, two journalists were stopped at knifepoint near the hotel and opposit e a police cabin. Mr Paulo Protasio, head of Rio's Chamber of Commerce, said 'we need to mobilise Rio's taxpayers to see that this constant drop in tour ism, which is the state's principal economic activity, is jeopardising every one's jobs.' He said the aim of yesterday's march was to press the state aut horities into taking action. Rio's commercial and tourism associations have presented a plan to the state governor for the creation of a new 1,500-stron g bilingual tourist police force which would be well-paid and better motivat ed. Mr Protasio pointed out that Rio should be capitalising on the World Env ironment Conference, which it is hosting in June, to present a new image. The Financial Times London Page 5 ============= Transaction # 99 ============================================== Transaction #: 99 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 9 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: FT921-6602 _AN-CB0CIABFFT 9202 27 FT 27 FEB 92 / Rio business protests at rising crime By CHRISTINA LAMB RIO DE JAN EIRO THOUSANDS of Rio's hoteliers, shopkeepers, businessm en and tourist agents held a demonstration along Copacabana beach yesterday to protest against the resort's increasing violence, which, they say, is des troying its tourist industry. Since 1987, the number of tourists visiting Br azil has plummetted from almost 2m to 800,000, largely because of Rio's spir alling crime rate. As a result, Rio has suffered an estimated Dollars 400m l oss in revenue, according to Mr Ronaldo Monterosa, president of Embratur, th e Brazilian tourist authority. 'Over the last five years we have watched tou rism collapse,' said Mr Philip Carruthers, general manager of the Copacabana Palace hotel and president of the Association of Hoteliers. 'Occupancy of f ive-star hotels in peak months has fallen from 97 per cent to 63 per cent. T he main reason is Rio's appalling image, which is based on a fundamental rea lity - complete lack of security.' He complained that his hotel staff have t o prevent guests leaving the hotel with cameras, jewellery or watches becaus e of the 'complete ineffectiveness' of the police. 'The police here are part of the problem rather than the solution.' Immediately after the press confe rence, two journalists were stopped at knifepoint near the hotel and opposit e a police cabin. Mr Paulo Protasio, head of Rio's Chamber of Commerce, said 'we need to mobilise Rio's taxpayers to see that this constant drop in tour ism, which is the state's principal economic activity, is jeopardising every one's jobs.' He said the aim of yesterday's march was to press the state aut horities into taking action. Rio's commercial and tourism associations have presented a plan to the state governor for the creation of a new 1,500-stron g bilingual tourist police force which would be well-paid and better motivat ed. Mr Protasio pointed out that Rio should be capitalising on the World Env ironment Conference, which it is hosting in June, to present a new image. The Financial Times London Page 5 ============= Transaction # 100 ============================================== Transaction #: 100 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 9 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: FT921-6602 _AN-CB0CIABFFT 9202 27 FT 27 FEB 92 / Rio business protests at rising crime By CHRISTINA LAMB RIO DE JAN EIRO THOUSANDS of Rio's hoteliers, shopkeepers, businessm en and tourist agents held a demonstration along Copacabana beach yesterday to protest against the resort's increasing violence, which, they say, is des troying its tourist industry. Since 1987, the number of tourists visiting Br azil has plummetted from almost 2m to 800,000, largely because of Rio's spir alling crime rate. As a result, Rio has suffered an estimated Dollars 400m l oss in revenue, according to Mr Ronaldo Monterosa, president of Embratur, th e Brazilian tourist authority. 'Over the last five years we have watched tou rism collapse,' said Mr Philip Carruthers, general manager of the Copacabana Palace hotel and president of the Association of Hoteliers. 'Occupancy of f ive-star hotels in peak months has fallen from 97 per cent to 63 per cent. T he main reason is Rio's appalling image, which is based on a fundamental rea lity - complete lack of security.' He complained that his hotel staff have t o prevent guests leaving the hotel with cameras, jewellery or watches becaus e of the 'complete ineffectiveness' of the police. 'The police here are part of the problem rather than the solution.' Immediately after the press confe rence, two journalists were stopped at knifepoint near the hotel and opposit e a police cabin. Mr Paulo Protasio, head of Rio's Chamber of Commerce, said 'we need to mobilise Rio's taxpayers to see that this constant drop in tour ism, which is the state's principal economic activity, is jeopardising every one's jobs.' He said the aim of yesterday's march was to press the state aut horities into taking action. Rio's commercial and tourism associations have presented a plan to the state governor for the creation of a new 1,500-stron g bilingual tourist police force which would be well-paid and better motivat ed. Mr Protasio pointed out that Rio should be capitalising on the World Env ironment Conference, which it is hosting in June, to present a new image. The Financial Times London Page 5 ============= Transaction # 101 ============================================== Transaction #: 101 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-7061 _AN-DEZCHAA9FT 9305 26 FT 26 MAY 93 / Amnesty attacks Egypt's record By MARK NICHOLSON CAIRO THE Egyptian government's continuing battle against Islamic extremis ts has led to a 'dramatic increase in human rights abuse,' according to a re port by Amnesty International, the London-based human rights group. It says Egyptian security forces 'appear to have been given a licence to kill with i mpunity'. The report follows Egypt's increasingly tough response to extremis t attacks against police and tourist targets, which Amnesty says has involve d mass arrests, torture, unfair political trials and death sentences. Amnest y cites allegations of police killing Islamic suspects who were not offering resistance, of torture in police stations and deaths in custody. The Egypti an government has in the past year rounded up thousands of suspected members of the Gama'a al-Islamiyya, the extremist Islamic group behind a persistent campaign of attacks on police, government figures and tourist targets which has led to an economically crippling wave of tourist cancellations. Amnesty puts the number of those detained under emergency provision, a figure not r eleased by the government, at 2,000 or more. It says more than 160 people ha ve died in the past year's political violence. Countries:- EGZ Egypt, Africa. Industries:- P9229 Public Ord er and Safety, NEC. Types:- NEWS General News. < PUB>The Financial Times London Page 6 ============= Transaction # 102 ============================================== Transaction #: 102 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-12416 _AN-DJ0CNABGFT 931 027 FT 27 OCT 93 / Tourists shot in Cairo hotel By MARK NICHOLSON CAIRO A GUNMAN opened fire in the restaurant of a luxury tourist hotel in C airo last night, killing three people and severely wounding four others, wri tes Mark Nicholson in Cairo. The attack is the worst on foreigners in Egypt in the past 18 months, which has seen sporadic violence against tourists by Islamic extremists. Police said the gunman, who had been sitting in the Felu cca restaurant of the Semiramis Intercontinental Hotel, suddenly stood up an d fired on diners with a revolver. The shooting is likely to be a devastatin g blow to Egypt's tourism industry, already crippled by earlier attacks. It happened on the same day as President Hosni Mubarak sought to assure his US hosts in Washington that Egypt's recent security problems were resolved. His confidence was based on a lull in attacks after security operations against suspected militants. An American, an Italian and a third person of unknown origin died in the shooting, doctors said. The injured included another Amer ican, a Syrian and a French citizen. The gunman and two others were arrested . Last year an English woman was shot by extremists in Upper Egypt, while a Turk and a Swede died in the bombing of a Cairo cafe in February. Countries:- EGZ Egypt, Africa. Industries:- < IN>P9229 Public Order and Safety, NEC. Types:- NEWS Ge neral News. The Financial Times London Page 8 ============= Transaction # 103 ============================================== Transaction #: 103 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-11275 _AN-CJ0BMABVFT 921 027 FT 27 OCT 92 / Extremists' knife enters near Egypt's heart: The threat to tourism from the recent attacks on foreigners By TONY WALKER and MICHAEL SKAPINKER LAST M ONTH Mr Fouad Sultan, Egypt's tourism minister, boasted that the country had 'the least terrorism of all the countries of the world. . . .' and that 'ev erything is under control'. Mr Sultan, regarded as one of the better perform ers of a generally lacklustre Egyptian administration, could be excused for wondering whether he might not have erred by tempting fate. A sudden rash of Islamic extremist violence against tourists is endangering the country's mu lti-billion dollar tourism industry at a time when it was achieving spectacu lar growth rates and new investment was pouring into the sector. The slaying last Wednesday of a British tourist south of Cairo and the stabbings at the weekend of Russian visitors to Port Said at the entrance to the Suez Canal have cast a pall over an industry that had been reaping tremendous rewards s ince the end of the Gulf war. Together with concern engendered by the Cairo earthquake which killed up to 600 people (none of them tourists) these lates t incidents have drawn unwelcome attention to the possible dangers of Third World travel, especially in a country where Islamic extremism is on the rise . Tour operators and large hotels contacted in Cairo yesterday said they wer e experiencing cancellations among both individuals and, more worryingly, to ur groups - the lifeblood of the industry. The Cairo Marriott said that tour operators were reporting that group numbers would be down by as much as 20 per cent. Italian groups - tourism from Italy has been booming - were promin ent among those notifying cancellations. Foreign embassies in Cairo, sensiti ve to the importance of tourism to the hard-pressed Egyptian economy, have b een guarded in their comments on dangers to visitors, but most western missi ons have felt obliged, in response to inquiries, to point out the risks In L ondon, Thomson, the UK's biggest travel company, said it saw no reason at th e moment to be concerned about future bookings or the safety of its 700 cust omers currently in Egypt. The company, which takes 25,000 tourists to Egypt annually, said: 'These are isolated incidents, just as there was another bom bing in London on Sunday night.' Thomson said it had had 'one or two' cancel lations. Kuoni Travel, which carries 15,000 UK tourists to Egypt a year, sai d it had one cancellation last Friday. Mr Martin Thompson, managing director of Abercrombie & Kent Travel, an upmarket operator, said: 'We believe that people should not go off the beaten track in Egypt.' The company, which take s 11,000 tourists to Egypt each year from the UK, the US and Australia, said : 'We're keeping our ears close to the ground both here and in Cairo. But no body in London has cancelled so far.' However, Egyptian tour operators fear a return of the gloomy Gulf war period and its aftermath during which Nile f erries sailed empty and hotel occupancy rates plummeted. With investment of more than USDollars 1bn planned for an industry which is Egypt's biggest for eign currency earner, apart from workers' remittances, the stakes are high. A million Egyptians are estimated to derive their livelihood either directly or indirectly from the tourism sector, which contributes 6 per cent of gros s domestic product. Barring accidents, Mr Sultan had predicted that numbers of visitors would grow to 5m annually by financial year 1994/95. This would represent a 400 per cent increase in tourist numbers in a decade, and there remains scope for further growth. Hotel room capacity in Egypt has more than doubled since 1985 to 53,000, barely keeping pace with demand. Another 14,0 00 are under construction and there are plans for more. Businessmen with pro jects already under way are unlikely to be deflected by the recent troubles, but those planning to make commitments may pause; for whatever officials mi ght say about internal stability, there is increasing concern about a surge in fundamentalist violence amid growing signs of disaffection with the estab lished order. Unless, the authorities can find a way to neutralise Islamic m ilitants, prospects are for more rather than less trouble. Ominously, extrem ists under the umbrella of al-gama'a al-Islamiya (literally, Islamic groups) appear to have decided to target visitors as a means of undermining the gov ernment's authority. Anonymous spokesmen have, since August, been threatenin g to strike at tourists and tourist installations. That they have now made g ood their threats suggests that a rudimentary network exists to carry out pi n-prick attacks. The militants may have found the government's Achilles heel . The Financial Times London Page 8 ============= Transaction # 104 ============================================== Transaction #: 104 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 105 ============================================== Transaction #: 105 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-1145 _AN-DIZABAAYFT 9309 25 FT 25 SEP 93 / Taxi war highlights big growth in rack eteering By PATRICK BLUM THE MURDER of a taxi driver this week during the middle of the day on Wenceslas Square , one of Prague's main tourist and shopping boulevards, highlights the growi ng lawlessness sweeping the city's taxi trade, writes Patrick Blum. Thursday 's victim had come to the defence of a woman passenger violently ejected fro m another taxi whose driver felt her destination was not distant enough to b e profitable. According to CTK, the Czech news agency, the victim was kicked to death by the other driver for suggesting his behaviour gave taxi drivers a bad reputation and would soon leave them with only themselves to drive ar ound the city. The killing was only the latest in a series of violent incide nts which have claimed the lives of several drivers. The rising violence aga inst taxi drivers, and the control of taxi stands by Mafia-style gangs, have led the Association of Prague Taxi Operators to call for action by the city authorities to improve safety and restore law and order but until now littl e has been done to improve the situation. A delegation of taxi drivers yeste rday appealed to the mayor, Mr Jan Koukal, to 'free the Prague taxi service from the influence of people who assert their right to decide who will or wi ll not use taxi stands and who recklessly decide on the unprecedented overch arging of customers.' Last June, the association warned that organised group s were forcing honest drivers away from the taxi stands through threats and by attacking them and damaging their vehicles. The association says the gang s consists of former secret police drivers, illegal money changers, and deal ers in black market goods. It is not uncommon for taxi drivers to insist on a flat payment - usually several times the meter fare - or refuse to carry p assengers. Dishonest drivers prey on unwary tourists and often ask for much more than the normal fare of Kcs12 (27p)per kilometre. This correspondent wa s thrown out - verbally - of a taxi on Old Town Square, the heart of the Cze ch capital, packed with thousands of tourists on any summer day, for insisti ng that the driver switch on his meter rather than pay a pre-set amount repr esenting five times the real cost of the trip. My threat to report the incid ent to the police met with a laugh and a shrug. But while many honest taxi d rivers are driven out of business or face threats, unwary passengers have al so been robbed and attacked by drivers. For tourists it is best to avoid the taxi ranks in the town centre, and call a reliable taxi company on the tele phone to avoid unpleasant surprises. As elsewhere in central and eastern Eur ope, the demise of communism has opened the door to the emergence of a new u nderworld involving a variety of criminal activities including racketeering, protection, prostitution, drugs dealing, and the illegal trade in arms and radio-active materials. Violence is not uncommon as gangs fight for control, while an understaffed, under-resourced, inexperienced and under-paid police force is overwhelmed by the rise in criminality. Countries:- < /XX> PLZ Poland, East Europe. Industries:- P9229 P ublic Order and Safety, NEC. P4121 Taxicabs. Types:- TECH Safety & Standards. The Financial Times Lon don Page 3 ============= Transaction # 106 ============================================== Transaction #: 106 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-7733 _AN-DKRC7AGVFT 9311 18 FT 18 NOV 93 / Survey of South Africa - Open for inve stment (20): Playground for visitors - Tourism By TO NY HAWKINS ONE industry where South Africa seems certain to develop a competitive advantage is leisure. Even under sanctions and with h igh levels of violence and political uncertainty, it is the continent's seco nd largest tourist industry, accounting for almost 20 per cent of regional t ourist income, more than double Kenya's 9.6 per cent. In 1991, Morocco heade d the African league with 24 per cent of tourist revenue. Globally, South Af rica is a tiny player accounting for less than 0.25 per cent of the internat ional tourist business. Excluding African visitors, there were some 560,000 tourist arrivals last year, the bulk of whom (70 per cent) came from Europe, with the UK as the main market (26 per cent) followed by Germany (16 per ce nt) and the US (9 per cent). With a growth rate of 18,5 per cent in 1992, th e Asian market - especially Taiwan (4 per cent) and Japan (1.5 per cent) - i s becoming increasingly important. Growth accelerated in the first seven mon ths of 1993 with the number of arrivals increasing 12.7 per cent. Overseas t ourists spend an estimated R4,800 (Dollars 1,750) per visit (excluding air f ares to and from the country) and the industry earned R2.75bn (Dollars 1bn) in foreign exchange in 1991, making it the fourth largest foreign currency e arner, after manufactures, gold and other minerals. Aside from the lifting o f sanctions, the main factor making for tourism growth at a time of global r ecession has been the liberalisation of the aviation policies and the expans ion of air traffic capacity. In the past three years, 18 new airlines have s tarted services to South Africa. A more market-driven aviation policy has re sulted in more competitive market prices and the opening up of the charter m arket. The number of tour operators has more than doubled, while government has become more active in tourism promotion allowing accelerated tax write-o ffs for the accommodation industry, a R600m (Dollars 180m) loan programme fo r Eco-tourism projects and support schemes for small entrepreneurs. On the d ebit side, tourist perceptions of personal safety in South Africa have deter iorated markedly. In January 1990, some 70 per cent of overseas visitors rat ed the safety factor in South Africa good but by January this year, this rat ing had fallen below 30 per cent. The government's target is to more than tr eble the number of arrivals by 2000 reaching 1.75m visitors earning some R24 bn in foreign exchange. With hotels operating at below 50 per cent of bed-ni ght capacity, there is considerable scope for expansion without significant new investment in hotels. Nevertheless, three leading global players - Hilto n, Hyatt and Sheraton - have expressed interest in opening up in South Afric a. Countries:- ZAZ South Africa, Africa. Industries:- P7999 Amusement and Recreation, NEC. P9611 Admini stration of General Economic Programs. Types:- CMMT Co mment & Analysis. The Financial Times London Page 4 0 ============= Transaction # 107 ============================================== Transaction #: 107 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT941-11012 _AN-EBGC7AB9FT 940 207 FT 07 FEB 94 / Business Travel (Travel Update): Carn ival time Business travellers to Rio de Janeiro should en sure they have confirmed hotel bookings during the five-day Carnival holiday which begins on February 12. Tourists have not been deterred by reports of crime and gang violence in the Brazilian city and local hoteliers say they a re fully booked. Countries:- BRZ Brazil, South Ameri ca. Industries:- P7011 Hotels and Motels. Ty pes:- NEWS General News. The Financial Times

London Page 13 ============= Transaction # 108 ============================================== Transaction #: 108 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT942-15963 _AN-EDMEUAA9FT 940 413 FT 13 APR 94 / Extra powers for Guatemala army: Wave of unrest and violence against foreigners By REUTER GUATEMALA CITY Guatemala's Presi dent Ramiro de Leon announced late on Monday the country's powerful military would take charge of internal security in an effort to combat violence and growing unrest, Reuter reports from Guatemala City. 'The army. . . will act with all its energy but within legal limits against groups who have been com mitting acts of violence and creating a climate of instability,' said Mr de Leon in a televised speech. Mr de Leon called the national police force 'inc apable' of ensuring order but added the army's participation in his new secu rity plan would not lead to the militarisation of Guatemala. 'The government will maintain its legalistic policies.' Guatemala has been in a state of cr isis for the past month with a series of attacks on foreigners, assassinatio ns and kidnappings, and Mr de Leon has been under pressure to deliver tough solutions to combat unrest. The president of the country's highest legal bod y, Mr Epaminondas Gonzalez, 61, was assassinated by gunmen outside his Guate mala City home 10 days ago. Hysteria that foreigners might be stealing local children and selling their organs for transplants has provoked three attack s on American tourists in the past month. An American journalist, Ms June We instock, from Fairbanks, Alaska is still in a coma after an assault by peasa nts who beat her when she tried to photograph a child in northern Guatemala. Mr de Leon, once Guatemala's top human rights official and an outspoken cri tic of the country's armed forces, was elected president in June last year t o replace former president Jorge Serrano, who was ousted after a failed bid for dictatorial powers. Countries:- GTZ Guatemala, C entral America. Industries:- P9721 International Affair s. Types:- NEWS General News. The Financial Times London Page 6 ============= Transaction # 109 ============================================== Transaction #: 109 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT942-15963 _AN-EDMEUAA9FT 940 413 FT 13 APR 94 / Extra powers for Guatemala army: Wave of unrest and violence against foreigners By REUTER GUATEMALA CITY Guatemala's Presi dent Ramiro de Leon announced late on Monday the country's powerful military would take charge of internal security in an effort to combat violence and growing unrest, Reuter reports from Guatemala City. 'The army. . . will act with all its energy but within legal limits against groups who have been com mitting acts of violence and creating a climate of instability,' said Mr de Leon in a televised speech. Mr de Leon called the national police force 'inc apable' of ensuring order but added the army's participation in his new secu rity plan would not lead to the militarisation of Guatemala. 'The government will maintain its legalistic policies.' Guatemala has been in a state of cr isis for the past month with a series of attacks on foreigners, assassinatio ns and kidnappings, and Mr de Leon has been under pressure to deliver tough solutions to combat unrest. The president of the country's highest legal bod y, Mr Epaminondas Gonzalez, 61, was assassinated by gunmen outside his Guate mala City home 10 days ago. Hysteria that foreigners might be stealing local children and selling their organs for transplants has provoked three attack s on American tourists in the past month. An American journalist, Ms June We instock, from Fairbanks, Alaska is still in a coma after an assault by peasa nts who beat her when she tried to photograph a child in northern Guatemala. Mr de Leon, once Guatemala's top human rights official and an outspoken cri tic of the country's armed forces, was elected president in June last year t o replace former president Jorge Serrano, who was ousted after a failed bid for dictatorial powers. Countries:- GTZ Guatemala, C entral America. Industries:- P9721 International Affair s. Types:- NEWS General News. The Financial Times London Page 6 ============= Transaction # 110 ============================================== Transaction #: 110 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT942-15963 _AN-EDMEUAA9FT 940 413 FT 13 APR 94 / Extra powers for Guatemala army: Wave of unrest and violence against foreigners By REUTER GUATEMALA CITY Guatemala's Presi dent Ramiro de Leon announced late on Monday the country's powerful military would take charge of internal security in an effort to combat violence and growing unrest, Reuter reports from Guatemala City. 'The army. . . will act with all its energy but within legal limits against groups who have been com mitting acts of violence and creating a climate of instability,' said Mr de Leon in a televised speech. Mr de Leon called the national police force 'inc apable' of ensuring order but added the army's participation in his new secu rity plan would not lead to the militarisation of Guatemala. 'The government will maintain its legalistic policies.' Guatemala has been in a state of cr isis for the past month with a series of attacks on foreigners, assassinatio ns and kidnappings, and Mr de Leon has been under pressure to deliver tough solutions to combat unrest. The president of the country's highest legal bod y, Mr Epaminondas Gonzalez, 61, was assassinated by gunmen outside his Guate mala City home 10 days ago. Hysteria that foreigners might be stealing local children and selling their organs for transplants has provoked three attack s on American tourists in the past month. An American journalist, Ms June We instock, from Fairbanks, Alaska is still in a coma after an assault by peasa nts who beat her when she tried to photograph a child in northern Guatemala. Mr de Leon, once Guatemala's top human rights official and an outspoken cri tic of the country's armed forces, was elected president in June last year t o replace former president Jorge Serrano, who was ousted after a failed bid for dictatorial powers. Countries:- GTZ Guatemala, C entral America. Industries:- P9721 International Affair s. Types:- NEWS General News. The Financial Times London Page 6 ============= Transaction # 111 ============================================== Transaction #: 111 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-4527 _AN-DFICHABHFT 9306 09 FT 09 JUN 93 / Islamic militants bomb bus in Egypt By ROGER MATTHEWS, Middle East Editor ISLAMIC extremists killed one man and injured 14 others in a bomb attack on a tourist bus in Cairo yesterday as part of a continuing campaign to crippl e the tourist industry, Egypt's biggest source of foreign revenue. The terro rists dropped the bomb from a bridge as the bus travelled through an underpa ss towards the pyramids at Giza. It exploded on a car, badly damaging the ve hicle and the tourist bus which was following. One Egyptian died and 14 othe r people were injured, including five Britons who were among a party of 39 o n a one-day visit to Cairo. The attack was the latest in a year-long campaig n waged by extremists primarily against the tourist industry, but which has also targeted government ministers, senior security officials and members of Egypt's Coptic minority. The economy has already felt the impact with some forecasts suggesting a halving of tourism revenues this year. Over 3m touris ts visited Egypt last year with earnings estimated at Dollars 3.2bn (Pounds 2.1bn). Some officials had forecast an increase to more than Dollars 4bn dur ing the current year. President Hosni Mubarak has blamed Iran for being behi nd the violence, which he claims is aimed at destabilising his regime. Howev er, there is also evidence that widespread poverty, particularly in the sout h and in inner city areas, is proving fertile recruiting ground for groups p ledged to the introduction of full Islamic government. The authorities have responded to the attacks by declaring all-out war on the extremists and have used thousands of police and para-military units in assaults on suspected t errorist hideouts. Military courts have sentenced 21 extremists to death in recent months. Religious broadcasting on the state-run media has also been s harply increased in an effort to demonstrate that the regime is more devout than its radical opponents. This has caused growing alarm among more liberal , secular groups in Cairo who say that the government is polarising society and denying greater democratisation which, they argue, is the only effective way of defeating the Islamic extremists. The British Foreign Office is wait ing before deciding whether to advise Britons not to visit Egypt in the wake of today's terrorist attack. 'Our consul and vice-consul are visiting the s cene of the incident and will be reporting back,' the Foreign Office said. A dvice to visitors to Egypt, issued in March this year, was that they should be vigilant at all times, avoid Dairut and Assiut districts unless carrying out essential business, and dress and behave discreetly. While the highest p riority was given to protecting visitors, people's safety could not be guara nteed and further incidents in Cairo and elsewhere 'must be expected'. The A ssociation of British Travel Agents said it would continue to tell tourists of the dangers and urge them to be careful. More than 80,000 Britons visit E gypt each year. Countries:- EGZ Egypt, Africa. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 6 ============= Transaction # 112 ============================================== Transaction #: 112 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-13748 _AN-CGLAFAB7FT 920 711 FT 11 JUL 92 / Belfast is 'a clean, crisp Hibernian Rio' (official): The Northern Ireland Tourist Board believes battle-scarred West Belfast could attract visitors. Tim Burt looks at the changes which mak e the notion plausible By TIM BURT TONIGHT is bonfire night in Belfast. Piles of old timber and rubbish are rea dy to burn and hundreds of Protestant children, some younger than 10 years o ld, are looking forward to the big event: the annual celebration of the Batt le of the Boyne. Each year, the fires send a pall of smoke across hardline s uburbs, reminding Roman Catholic communities of their rout in 1690 at the ha nds of William of Orange. Army helicopters sometimes help spread the smoke a s they hover over the crowds, shining spotlights through the haze. And yet t he Northern Ireland Tourist Board sees hardline areas as a potential attract ion. It suggests visitors seeking a glimpse of the trouble spots should be e ncouraged. The board's corporate plan says: 'The opportunity to harness this curiosity factor should not be overlooked as a positive factor in encouragi ng people to visit and understand Northern Ireland.' The invitation from the tourist board contrasts with the advice I was given seven years ago by the Royal Ulster Constabulary. The policeman who questioned me thumped his bulle t proof vest and said: 'The Provos are trying to kill me. What protection ca n I give you - a Brit - on my doorstep? I can't do anything if they lift you . . . my advice is get out of West Belfast.' I was about to be charged unde r the Prevention of Terrorism Act for gathering information which might be u seful to a terrorist. Taking pictures of security bases is forbidden in Nort hern Ireland and I was an easy catch, spotted outside the Woodburn army base by high-powered surveillance cameras mounted on a pylon over the streets. T ension was high then. More than 27 policeman had been killed that year and t he security forces were edgy. Tension is expected to rise again tonight with the bonfires. The security forces will be on the look out for 'clodding' - stone-throwing battles which often lead to serious violence. In the worst pa rts of West Belfast stones give way to Molotov cocktails or condom bombs, ho me-made explosives filled with chemicals and acid. You can tell condom bombs by the terrible smell. Gelignite has the sweet aroma of marzipan. Shopkeepe rs will spend the night in cars outside their premises. They claim the polic e will not answer calls about burglaries and looting for fear of being set u p for a terrorist attack. Officers say they can keep an eye on many premises from the security of police stations using the type of surveillance cameras which caught me. The RUC hope any trouble will die out by daybreak. Tomorro w is the actual anniversary of the battle between William of Orange and Jame s II, but the traditional Orange Day marches have been postponed until Monda y out of the respect for the sabbath. The interlude should give Belfast time to clean up before the Protestant celebration begins afresh with a two-day public holiday. The uniforms and tunes of the marchers have not changed in y ears, nor have the routes they try to take through sectarian areas. But the landscape of West Belfast is undergoing a slow and painful facelift. Fewer s hops and offices are protected by wire grilles; two new shopping centres hav e been built on the site of the old Eastwoods scrapyard; and whole areas of derelict housing have been razed to make way for new homes. Divis, the notor ious republican ghetto which marks the gateway to West Belfast, is being dem olished as part of a Pounds 9m investment scheme. The high-rise blocks have been one of the main targets of the state Housing Executive which has built almost 1,000 new homes a year since 1982. The redevelopment scheme, part of a Pounds 200m urban rehabilitation programme, stretches from the Royal Victo ria Hospital - the site of the former Belfast and District Lunatic Asylum - to the River Lagan on the fringe of the city. It has helped to reclaim waste ground and provided the impetus for Europe's largest community-led environm ental project: Colin Glen, a spectacular park which cuts a green swathe thro ugh the western suburbs. These changes have helped make West Belfast into an area that is, in the eyes of the tourist board, fit for visitors. Unionist politicians have reacted angrily to the board's proposals, claiming tourist officials are trying to package the troubles for outsiders. A claim which th e officials reject. They are not the only ones who take a kindlier view of t ourists. Sinn Fein, the political wing of the IRA, offers tourists a guide t o the protest murals and army bases. And privately, police officers say visi tors are unlikely to be detained for taking pictures of security installatio ns. Many of the improvements, however, are only cosmetic. Smart railings hav e replaced the concrete blocks that used to line grassy areas of the city to deter joyriders. But joyriding is as prevalent as ever. The local economy h as been drained by years of neglect during which the government directed inv estment to areas of political preferment. That has left unemployment averagi ng 36.7 per cent, rising to more than 60 per cent in pockets of the Catholic Falls Road and Protestant Shankhill Road. With little prospect of work, man y low income families live on estates suffering from vandalism and apathy. M ost Belfast children never encounter violence or see a bomb thrown, but thos e who face the dole are not so lucky. They are ripe for racketeering and par amilitary recruitment. The tourist board ignores all this and describes Belf ast as 'crisp, clean and inviting . . . a Hibernian Rio'. If the city centre compares to that Brazilian metropolis, then West Belfast is its favela: spi rited but poor. There is, however, a group of entrepreneurs backed by the In dustrial Development Board, which sees investment as the panacea for the pro blems. The West Belfast Business Opportunity group claims an enterprise cult ure is flourishing, with new companies taking advantage of cheap premises an d labour. The economic optimism has been fuelled by this week's face-to-face talks between Ulster leaders and the British and Irish governments. Local c ommunity leaders say there is a ripple of hope rather than a wave. Too many residents have had expectations raised before only to see them dashed by ind ustrial closures, recession and violence. The Phoenix Trust, a development g roup, says there is still 'severe multiple deprivation'. Eamon Hanna, chief executive of the trust, says: 'This would be a problem town even if a shot h ad never been fired . . . it's an uphill battle.' Hanna and other business l eaders say winning the economic battle depends on overcoming the area's poor image. That image could take a further knock this weekend if the bonfires b ecome a prelude to violence and the clodding persuades outsiders to follow t he advice I received - get out of West Belfast. The Financial T imes London Page VIII ============= Transaction # 113 ============================================== Transaction #: 113 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT931-1884 _AN-DCXAWAFKFT 9303 23 FT 23 MAR 93 / Egypt focuses firepower on militants: Islamic extremists have forced Cairo to write off tourist revenues By MARK NICHOLSON EGYPT'S government seems t o have decided to write off the rest of this year's tourist season. A couple of weeks ago, the government did its best to play down the recent attacks b y Islamic militants on tourists. It blamed the media for exaggerating their gravity and hired Saatchi & Saatchi to burnish the country's image abroad. G overnment spokesmen said violence by the Gama'a al-Islamiyya, the extremist group aiming to install an Islamic state in Egypt, had peaked and that 90 pe r cent of its members had been captured in security sweeps late last year an d early this. The government seemed determined to rescue what it could of it s tourist revenues, which according to Mr Fouad Sultan, tourism minister, ar e 20 per cent down on last year's record levels, when the industry earned Eg ypt a precious Dollars 3.2bn (Pounds 2.25bn). Non-government estimates sugge st revenues might in fact be down by half or more. Now, however, the governm ent appears to have decided that it is more important to take the fight to t he militants than keep Egypt comfortingly out of the news. Since the start o f this month, which saw the most violent clashes between police and militant s in a decade, a series of raids on Gama'a hideouts and, in one case, a full mosque in Aswan has left more than 40 people dead, including at least 10 po licemen. The government denies it is operating a shoot-to-kill policy agains t the Islamic militants, but is taking massive firepower with it in raids on suspected hideouts. More than 1,000 police, some armed with rocket-propelle d grenades, for instance, took part in a nine-hour shoot-out in Asyut this w eek in which 10 militants were killed. The decision to step up the campaign against the Gama'a appears to reflect two discomforting factors for the gove rnment. The first is that its claim to have rooted out the militants has pro ven unfounded. Police and troops continue to be shot and killed in sporadic incidents in both Upper Egypt - the Gama'a's chief stronghold - and Cairo. E ven in the face of tougher policing and tighter security at all main tourist spots, the Gama'a still managed to blow up tourist buses last week outside the Egyptian museum, a prime tourist attraction. Yesterday it vowed to aveng e the Asyut killings with more attacks in Cairo. The second factor is that t he Gama'a's aim of hurting the economy, as a means of destabilising the gove rnment, has been disconcertingly successful. Not only is the tourism industr y, the country's fastest growing and potentially most lucrative, likely to l ose about Dollars 700m this year, but some investors in Egypt's ambitious to urism development projects are reported to be getting cold feet. Businessmen have also been increasingly skittish since the Gama'a said they might direc t attacks at foreign investments in the country. Earlier this week the US em bassy called in members of the American business community to reassure them that there was no reason to panic. But it is a sign of the concern among bus inessmen that most say they unreservedly back the use of considerable violen ce against the extremists. 'The government must be very, very brutal indeed, ' says one. There is a wide divergence of views among businessmen, diplomats and other observers as to the real gravity of the militants' threat. But fe w doubt that the considerable might of Egypt's security forces can contain i t - even if it not at once. 'The next three months will be very difficult fo r the government to control the situation,' says one leading businessman. 'B ut for my money I'd prefer it this way, to have it out in the open. Let's ge t on with it and get it finished.' Few, however, believe that force alone wi ll eradicate the threat from militant Islamic groups. In fact, the governmen t has employed more weapons against the Islamic militants than just guns, an d broadened its attack to include the officially banned Moslem Brotherhood, which for 60 years has represented Egypt's main Islamic political grouping a nd commands significant support. Parliament has passed a law aimed at making it more difficult for the Brotherhood to dominate the elections to professi onal syndicates, most of which they control. The government is trying to bri ng all the country's mosques under state control and supply the texts for th e Friday sermon. The government is also planning to improve services in some of the country's worst slums and increase investment in the poorest parts o f Upper Egypt, where poverty is believed to offer the Gama'a fertile ground for recruitment among Egypt's thousands of disillusioned, young unemployed. But there are growing calls in Egypt for more radical action. 'The governmen t should have an integrated policy to change the society religiously, econom ically and socially,' says Mr Said Ashmawy, chief justice of the supreme cou rt for state security, who believes that without radical changes to liberali se its administration, de-Islamicise the state media and reform the country' s education system, 'terrorism unfortunately will last for many years'. That would be profoundly bad news for the Egyptian government, which faces polit ical hurdles enough in pushing through tough economic reforms under joint IM F and World Bank programmes. Equally, the recent violence gives the governme nt a political card to play with the IMF when it opens negotiations on a sec ond agreement with the Fund in the next few weeks. When President Hosni Muba rak meets President Clinton in Washington early next month he will almost ce rtainly underline the terrorist threat when the administration brings up the subject of US aid, of which Egypt is the second biggest recipient after Isr ael. Countries:- EGZ Egypt, Africa. Indus tries:- P9611 Administration of General Economic Programs. P92 29 Public Order and Safety, NEC. Types:- GOVT Governme nt News. The Financial Times London Page 6 ============= Transaction # 114 ============================================== Transaction #: 114 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 20 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: FT911-1104 _AN-BEHBSADXFT 9105 08 FT 08 MAY 91 / Operators review travel to Yugoslavia By DAVID CHURCHILL BRITISH tour ope rators and travel agents were yesterday reviewing the position facing travel to Yugoslavia after the latest outbreak of violence, David Churchill writes . They were concerned about the lack of firm guidance by the Foreign Office about travel to Yugoslavia. A number of leading operators are understood to support a move to ban holiday travel to the country in advance of any Foreig n Office ruling. The latest Foreign Office advice is for travellers to avoid the area between Karlovac and Sisak in the north of the country and Split a nd Gospic to the south, including the coast road. They should also avoid tra velling in the area of Croatia to the north of the Zagreb-Belgrade motorway. The Foreign Office said there was no reason for travellers to avoid the mai n cities in the tourist areas of Istria, Slovenia and Montenegro. Yugotours, the largest operator to the country and backed by the Yugoslav government, has some 2,500 Britons at present on holiday in Yugoslavia. Last year about 800,000 Britons went to Yugoslavia, mainly to the coastal seaside resorts, w here holidays were considerably less expensive than their Spanish equivalent . Even before the Gulf War, however, the market this year was looking bleak because of the UK recession. Now Yugoslavia's tourist industry, its biggest foreign exchange earner, faces the effects of the nationalist upheavals. Tou rism brought in an estimated Dollars 2.2bn (Pounds 1.27bn) in 1989 and at le ast 10 per cent more last year. The Financial Times London Page 8 ============= Transaction # 115 ============================================== Transaction #: 115 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 21 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: FT924-11146 _AN-CJ0BMAFYFT 921 027 FT 27 OCT 92 / Survey of Sri Lanka (13): Growth cont inues despite conflict -Tourism By DAVID PILLING TO have one civil war may be considered unfortunate, but to h ave two is inexcusable. This seemed to be the view of international tourists who, having tentatively placed Sri Lanka on the map during the 1970s, promp tly removed it as the island gained a reputation for bloody civil strife. To urist arrivals had grown rapidly in the 1970s to a peak of 407,000 in 1982. Annual growth was running at an average 24 per cent from 1976-1982. The outb reak in 1983 of government hostilities with the Tamil Tigers quashed hopes o f further expansion. Arrivals dropped dramatically, even more so when violen ce - previously confined largely to the north and east - erupted in the sout h with the attempted insurrection of the People's Liberation Front (JVP). By 1987, the number of visitors had dropped to a mere 180,000, a level from wh ich it failed to recover in 1988 and 1989. Discounting was so fierce that a night in a five-star hotel was being offered for as little as Dollars 7. Few would have predicted the impressive upturn witnessed since then. Boosted by the virtual annihilation of the JVP in the south and by the temporary halt of fighting with the Tigers, the number of visitors began to grow, reaching 317,000 in 1991. This marked an increase of 6.7 per cent over the previous y ear, bucking the world trend in tourism which was hit hard by recession and the Gulf war. Growth continued in spite of the renewed outbreak in June 1990 of fighting in the north and east - out of bounds to tourists - as Sri Lank an authorities gradually persuaded the international industry that most of t he island remained safe. In terms of foreign exchange earnings, growth has b een even more satisfactory with receipts of Dollars 155.6m in 1991; some 17. 4 per cent over 1990. That trend seems likely to continue and even accelerat e. Arrivals in the first eight months of this year are 27.7 per cent up on t he same period in 1991, according to figures from the Ceylon Tourist Board. The board estimates that total arrivals for 1992 will be at least 380,000. T he government, says Mr N. U. Yasapala, director-general of the tourist board , is keen to promote the sector both for its foreign exchange earnings and f or its ability to provide employment. According to the central bank, tourism in 1991 accounted for 64,800 jobs - 27,000 directly and 37,800 in ancillary sectors. Keen to capitalise on such benefits, the government has commission ed a 10-year tourist 'masterplan' drawn up with the help of Horwath Consulti ng of the UK. The plan, a draft of which is due to be published in November, sets a target of 874,000 air arrivals by the year 2001 - more than double t he 1982 peak. Mr Martin Gerty, director of Horwath Consulting, says the plan calls for the upgrading of existing hotels, the development of more up-mark et resorts, and the improvement of facilities around cultural sites which ne ed to be more 'visitor friendly'. Mr Gerty says such infrastructure was seve rely run down in the 1980s, but he thinks it remarkable that it was maintain ed at all. There may also be the need for additional airport facilities to t hose at Colombo's international airport because aircraft unable to land duri ng bad weather are presently redirected to Madras in southern India. One pos sibility is development of the military airfield at Hingurakgoda on the east of the island, particularly if ethnic tensions subside. Such ambitious plan s for tourism, especially at a time of budgetary constraints, will require s ubstantial private sector investment. The government has accordingly extende d tax incentives already enjoyed by export-driven companies to investors in tourist infrastructure. Some local observers feel such incentives have been too generous, allowing already profitable concerns to avoid tax. Mr S. T. Fe rnando, deputy governor of the central bank, counters that new investment mu st be encouraged following the collapse of tourism in the mid-1980s. Some 25 projects are being considered, worth an estimated total of Dollars 120m. Th ese would add 2,350 graded rooms to the island's stock which now stands at 9 ,680 - 18,950 beds. Obstacles to growth remain. Most immediate is increasing anxiety among certain groups that an expanded tourist sector would have a n egative cultural and environmental impact. There is concern that more touris ts would encourage drugs and prostitution - there are already an estimated 8 00 people infected with the HIV virus - and that hotels will monopolise reso urces such as land, power and water. The government was recently forced to a bandon plans for a showcase Dollars 40m holiday complex at Chilaw on the wes t coast because of protests by the Roman Catholic Church. The Buddhist clerg y, an extremely powerful political force, is threatening the future of other schemes. Mr Gerty feels that such protests can be dissipated by outlining s ome of the sector's potential benefits, such as employment. Tourism will, he says, have limited environmental impact as resorts will not be permitted to sprout up piecemeal but will be strictly controlled according to a planned development strategy. Another obstacle to growth may be Sri Lanka's over-rel iance on certain key markets. Western Europe makes up more than 60 per cent of total tourist traffic, with Germany, France, the UK and Italy representin g nearly 80 per cent of that share. North America provides a paltry 3 per ce nt of arrivals. Fashions change quickly and the 'discovery' of a new long-ha ul destination could jeopardise Colombo's plans. The most serious question m ark, however, remains Sri Lanka's international reputation. Despite recent e vidence that Colombo is winning the public relations battle in reassuring th e public of the island's safety, international confidence remains fragile. I f, on the other hand, the civil war ends, prospects for growth would be exce llent and the potential for achieving a million visitors annually would beco me realistic. Assuming, however, that civil strife staggers on, it would onl y take a few well-publicised incidents of violence or a period of political instability for the country's tarnished image to resurface. That would effec tively end the growth of the past few years and Sri Lanka would return to th e backwaters of the tourist industry. The Financial Times London Page VIII ============= Transaction # 116 ============================================== Transaction #: 116 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-12157 _AN-DJ1C4ABAFT 931 028 FT 28 OCT 93 / Tourism hit by shootings in Cairo By MARK NICHOLSON CAIRO WHATEVER the motives of the lone gunman who shot dead three fore igners as they dined late on Tuesday in the Cairo Semiramis Hotel, those in Egypt's demoralised tourist trade are resigned to the fact that they may not matter a jot. Whether the 28-year-old man arrested over the shooting was an Islamic fundamentalist or mentally disturbed, the effect is the same - to o ffer further evidence that Egypt is not a safe place for foreign visitors. M r Andrew Quinlan, the shaken manager of the Semiramis, scarcely needed to te ll reporters yesterday morning that he thought the attack would hurt already weak bookings. In the lobby, one Greek tour operator was already pulling hi s clients out of the hotel, and out of Egypt. 'We've already postponed two t rips because of violence,' he said. 'This is enough.' There is no hard evide nce that the accused man was part of an 18-month campaign waged by Islamic e xtremists to undermine the government by attacking targets in the previously flourishing tourist industry. Some witnesses claim he called out Islamic sl ogans as he fired on the two tables of foreign diners, leaving another three men seriously injured. The slain men, two Americans and a Frenchman, were l awyers attending a conference. Interior ministry officials said the gunman w as simply mentally disturbed. But there is little doubt that for whatever mo tive, he had singled out foreigners in the restaurant, where staff said ther e was the usual mix of tourists and locals, and that the attack is the grave st against visitors to Egypt in recent years. There is also no doubt that it has dealt a potentially catastrophic blow to the tourist trade, already ree ling from the effects of previous attacks. Tourist nights for the first eigh t months of the year are a third down on last year. Revenue figures from tou rism - officially calculated by multiplying tourist nights by an estimated a verage spend of Dollars 125 per visitor - are barely likely to clear Dollars 2bn this year after a record Dollars 3bn in 1991-92. This in itself is vita l, given that tourism vies with Suez canal receipts, oil exports and remitta nces as the country's main foreign exchange earner. But more worrying is the longer-term effect of the industry's decline. Of those hard currency earner s, tourism is the only one that western economists considered capable of sig nificant growth in the next few years. From the mid-1980s to the present, th e sector had grown at an average 17.5 per cent a year - far outstripping the economy's average growth of about 6 per cent over the period. More importan t to an economy with at least 20 per cent unemployment and which needs to ad d a minimum of 400,000 to 500,000 jobs a year to keep pace with labour force growth, tourism has long been the country's biggest job creator. The touris m ministry and western economists reckon about one in 15 jobs across the eco nomy depends directly on tourism. The job factor is particularly significant in Upper Egypt, both the country's poorest region and that most severely wr acked by Islamic extremist violence - two facts most observers in Egypt cons ider directly related. And it is there, rather than in the newly developed r esorts of Sinai and the Red Sea, that the tourist slump is deepest. The Nile cruise business, Upper Egypt's mainstay, is, according to one economist, 'i n outright collapse'. Hoteliers and cruise operators have already slashed pr ices, a trend many worry may lead to an irrevocable drop in standards and fa cilities. But more important is the effect of the slump on future investment and private sector confidence. The government makes no hard figures availab le on what proportion of total investment, local and foreign, has been dedic ated to tourism recently, but it is commonly accepted to be the most flouris hing sector outside the capital-intensive oil industry. 'Tourism has very ef fectively mobilised savings in the private sector - it is a real symbol of t he private sector here. That might now be under threat,' says one economist. Several big tourism investment schemes are under way, particularly in the R ed Sea and Sinai where there have been no attacks and where tourist arrivals remain healthy. Last week the International Finance Corporation, the World Bank's private sector arm, approved financing for two local companies in a D ollars 100m project to develop Ras Abu Soma, now a bare spit of the Red Sea coast, into a multi-hotel golfing and diving resort. But investment agencies in Cairo say all the schemes were entered into before the present troubles, and fresh projects have dried up. 'What we have noticed is a very sharp dro p in the number of feasibility studies being presented - almost to zero,' sa ys one agency director. In the short term there is little the industry can d o but tighten security a notch further, by installing X-ray checks on bags, and hope. The Semiramis was widely regarded as Cairo's safest hotel - it is where US secretaries of state usually stay. In the meantime, the editors of the Egyptian Gazette can only rue yesterday morning's banner headline. 'Egyp t safest place on earth,' it read, paraphrasing remarks made in Washington o n Tuesday by President Hosni Mubarak. By and large Mr Mubarak is correct. Th e streets of Egypt's towns are far safer than those of Washington or even pa rts of London. Attacks against tourists are, as the government never tires o f repeating, far fewer and less lethal than in Turkey or Miami. But try tell ing that to the tour operators. Countries:- EGZ Egyp t, Africa. Industries:- P9229 Public Order and Safety, NEC. P9311 Finance, Taxation, and Monetary Policy. P9611 Administrat ion of General Economic Programs. P7011 Hotels and Motels. Ty pes:- ECON Employment & unemployment. ECON Economic Indicato rs. The Financial Times London Page 4 ============= Transaction # 117 ============================================== Transaction #: 117 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 23 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: FT933-15380 _AN-DGICIABGFT 930 709 FT 09 JUL 93 / Egypt hangs seven for terrorism By MARK NICHOLSON CAIRO SEVEN Islamic militants were hanged in Egypt yesterday on charges of attacking foreign tourists and seeking to overthrow the government - the greatest number of executions for political crimes in the country's recent h istory. Five were hanged in 1982 for assassinating President Anwar Sadat. Th e seven were convicted by a military court in April of six separate bomb and firearm attacks on tourist buses and Nile cruisers late last year, in one o f which a young Englishwoman was killed. The men were among 49 tried in the case, including six in absentia, who had proclaimed loyalty to the Gamaa al- Islamiyya extremist group which has claimed responsibility for attacks on to urism and security forces over a year. A total of 22 individuals have been s entenced to death in trials arising from politically-motivated violence sinc e December last year. President Hosni Mubarak has made a point of publicly r atifying each one to signal his government's resolve to crush the threat fro m Islamic extremists. Five more men face the scaffold later this month after being convicted in May for their part in four bombings and an attempt on th e life of Mr Safwat Sherif, the information minister, who escaped a shooting near his Cairo home with light injuries last April. The government's determ ination to mete out the severest penalties possible on Islamic militants com es despite rising opposition from western and domestic human rights groups b oth to the use of the death penalty and to the conduct of trials by military courts. Countries:- EGZ Egypt, Africa. I ndustries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 4 ============= Transaction # 118 ============================================== Transaction #: 118 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT941-5407 _AN-ECGC1AB6FT 9403 07 FT 07 MAR 94 / Business Travel (Update): Egyptian fea r Extremists are continuing their campaign of violence, m ainly in the area of Assiut in Upper Egypt, but also in Cairo and occasional ly elsewhere. In February, they explicitly threatened to attack tourism, for eign investments and banks. There have been several attacks on tourist targe ts. Over the past two years, terrorist attacks have caused the deaths of sev en foreigners. The authorities are giving the highest priority to protecting visitors: more than 250,000 Britons visited Egypt in 1993 without experienc ing any security difficulty. But complete security cannot be guaranteed and further incidents are to be expected. Visitors should not travel to or throu gh the Assiut area. They should be vigilant and are reminded to behave and d ress discreetly. Countries:- EGZ Egypt, Africa. Industries:- P7999 Amusement and Recreation, NEC. P9229 Public Order and Safety, NEC. Types:- NEWS General Ne ws. The Financial Times London Page 15 ============= Transaction # 119 ============================================== Transaction #: 119 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 120 ============================================== Transaction #: 120 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-3290 _AN-DIOCVAAHFT 9309 15 FT 15 SEP 93 / Florida cancels tourism campaign after murder By GEORGE GRAHAM WAS HINGTON FLORIDA'S state tourism office yesterday cancelle d its domestic and international advertising campaigns in the wake of the ki lling of a British tourist - the ninth foreign visitor to be murdered in the state in the past year. Florida police said Mr Gary Colley, aged 34, was ki lled and his friend Ms Margaret Jagger wounded when they were attacked in a lay-by near Tallahassee, the state capital, in the early hours. Ms Jagger wa s later released from hospital. Governor Lawton Chiles announced a Dollars 1 0,000 (Pounds 6,500) reward for information leading to Mr Colley's killers, and he asked the federal government for help in the effort to crack down on crime. He also announced plans to enlist up to 500 game wardens, agriculture inspectors and marine officers to strengthen patrols on major roads. Mr Col ley's death follows the killing last week of Mr Uwe-Wilhelm Rakebrand, a Ger man tourist, in a highway shooting in Miami. Holidaymakers are cancelling tr ips to Florida because of the attacks. Mr Greg Farmer, the Florida state sec retary of commerce, said cancellations at hotels and resorts were running at around 20 per cent after Mr Rakebrand's killing, and the latest attack woul d probably inflict more damage on the state's Dollars 31bn a year tourism in dustry. 'It is going to be just catastrophic. This is going to have a very, very negative impact,' Mr Farmer said. Mr Ken Fortune, the county sheriff, s aid he believed the couple had been chosen at random, and not targeted as fo reigners. The British and German governments already issue warnings to touri sts about the dangers of travelling in Florida, but travel agents in Europe have generally distinguished Miami from the rest of the state, and advised t heir customers to pick destinations such as Orlando or St Petersburg. Six of the foreign visitors who have fallen victim to Florida's violence in the pa st year were attacked in the Miami area, but yesterday's shooting took place in the state's quieter northern panhandle. Tallahassee is a quiet town fest ooned in Spanish moss, more akin to neighbouring Georgia or Alabama than to the brasher Miami coast. Florida's murder rate of 10.7 per 100,000 populatio n, however, is lower than Georgia's and well below the rate in states such a s Louisiana, New York and Texas. Mr Colley and Ms Jagger, from Wilsden, near Bradford, in West Yorkshire, were sleeping in their car in a rest area abou t 25 miles from Tallahassee when two teenagers approached their car and bang ed on the windows. The two assailants opened fire when the pair tried to dri ve away. An attendant at the rest area gave police a description of the atta ckers. About 40m tourists visit Florida every year, and some 17 per cent are foreigners, including an estimated 800,000 from the UK. Countr ies:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. P4724 Travel Agencies. P472 5 Tour Operators. Types:- NEWS General News. The Financial Times London Page 1 ============= Transaction # 121 ============================================== Transaction #: 121 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 26 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: FT943-9495 _AN-EHKC0AA0FT 9408 11 FT 11 AUG 94 / Israel and PLO agree to speed talks By JULIAN OZANNE JERUSALEM Israel and the Palestine Liberation Organisation yesterday a greed on a series of high-level meetings to speed negotiations after a tough and tense summit at the Erez crossing point into Gaza. The meetings will ad dress the extension of Palestinian self rule from Gaza-Jericho to the rest o f the West Bank and Palestinian national elections. The summit between Israe li Prime Minister Yitzhak Rabin and PLO Chairman Yassir Arafat followed rece nt attacks in which each side accused the other of failing to live up to the pledges of their peace accords. The PLO said Israel had reneged on promises to release Palestinian prisoners and is delaying implementing extension of self-rule from Gaza-Jericho across the rest of the Israeli-occupied West Ban k. Mr Arafat was furious when Israel signed an interim peace deal with Jorda n and recognised King Hussein's special role as guardian of Islamic sites in future talks over Jerusalem. The PLO claims occupied Arab East Jerusalem as its political capital. Israel in turn accused the PLO of not containing vio lence against Israeli soldiers who remain in Gaza. Israeli officials said Mr Warren Christopher, US Secretary of State, who met Mr Rabin and Mr Arafat d uring his regional shuttle earlier this week, had been sympathetic to Palest inian frustrations and had encouraged Israel to revive the momentum of peace talks with the PLO. The tortuous negotiations between Israel and the PLO ha ve been in marked contrast to the smooth and speedy Israeli-Jordanian peace talks. Jordan and Israel continued making swift progress in talks yesterday. Israeli radio said the two sides agreed to joint promotion of regional tour ism and would produce a joint tourist brochure within 10 days. They also agr eed to begin connecting their electricity grids next week. After the summit Mr Rabin said he had expressed concern about Palestinian violence against Is raelis and stressed Israel's abiding focus on security. Mr Rabin strongly cr iticised remarks by Mr Farouk Kadoumi, PLO Foreign minister, who called on M onday for the destruction of Israel. 'I hope that on the Israeli side and th e Palestinian side tension and violence will be reduced, and statements that undermine or are against what we are committed to will not be heard,' he sa id. A more confident Mr Arafat, who last week warned of an 'explosion' unles s Israel fulfilled its obligations. US foreign aid, Page 4 Coun tries:- ILZ Israel, Middle East. Industries:- P9721 International Affairs. Types:- NEWS General Ne ws. The Financial Times London Page 3 ============= Transaction # 122 ============================================== Transaction #: 122 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-3290 _AN-DIOCVAAHFT 9309 15 FT 15 SEP 93 / Florida cancels tourism campaign after murder By GEORGE GRAHAM WAS HINGTON FLORIDA'S state tourism office yesterday cancelle d its domestic and international advertising campaigns in the wake of the ki lling of a British tourist - the ninth foreign visitor to be murdered in the state in the past year. Florida police said Mr Gary Colley, aged 34, was ki lled and his friend Ms Margaret Jagger wounded when they were attacked in a lay-by near Tallahassee, the state capital, in the early hours. Ms Jagger wa s later released from hospital. Governor Lawton Chiles announced a Dollars 1 0,000 (Pounds 6,500) reward for information leading to Mr Colley's killers, and he asked the federal government for help in the effort to crack down on crime. He also announced plans to enlist up to 500 game wardens, agriculture inspectors and marine officers to strengthen patrols on major roads. Mr Col ley's death follows the killing last week of Mr Uwe-Wilhelm Rakebrand, a Ger man tourist, in a highway shooting in Miami. Holidaymakers are cancelling tr ips to Florida because of the attacks. Mr Greg Farmer, the Florida state sec retary of commerce, said cancellations at hotels and resorts were running at around 20 per cent after Mr Rakebrand's killing, and the latest attack woul d probably inflict more damage on the state's Dollars 31bn a year tourism in dustry. 'It is going to be just catastrophic. This is going to have a very, very negative impact,' Mr Farmer said. Mr Ken Fortune, the county sheriff, s aid he believed the couple had been chosen at random, and not targeted as fo reigners. The British and German governments already issue warnings to touri sts about the dangers of travelling in Florida, but travel agents in Europe have generally distinguished Miami from the rest of the state, and advised t heir customers to pick destinations such as Orlando or St Petersburg. Six of the foreign visitors who have fallen victim to Florida's violence in the pa st year were attacked in the Miami area, but yesterday's shooting took place in the state's quieter northern panhandle. Tallahassee is a quiet town fest ooned in Spanish moss, more akin to neighbouring Georgia or Alabama than to the brasher Miami coast. Florida's murder rate of 10.7 per 100,000 populatio n, however, is lower than Georgia's and well below the rate in states such a s Louisiana, New York and Texas. Mr Colley and Ms Jagger, from Wilsden, near Bradford, in West Yorkshire, were sleeping in their car in a rest area abou t 25 miles from Tallahassee when two teenagers approached their car and bang ed on the windows. The two assailants opened fire when the pair tried to dri ve away. An attendant at the rest area gave police a description of the atta ckers. About 40m tourists visit Florida every year, and some 17 per cent are foreigners, including an estimated 800,000 from the UK. Countr ies:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. P4724 Travel Agencies. P472 5 Tour Operators. Types:- NEWS General News. The Financial Times London Page 1 ============= Transaction # 123 ============================================== Transaction #: 123 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-3290 _AN-DIOCVAAHFT 9309 15 FT 15 SEP 93 / Florida cancels tourism campaign after murder By GEORGE GRAHAM WAS HINGTON FLORIDA'S state tourism office yesterday cancelle d its domestic and international advertising campaigns in the wake of the ki lling of a British tourist - the ninth foreign visitor to be murdered in the state in the past year. Florida police said Mr Gary Colley, aged 34, was ki lled and his friend Ms Margaret Jagger wounded when they were attacked in a lay-by near Tallahassee, the state capital, in the early hours. Ms Jagger wa s later released from hospital. Governor Lawton Chiles announced a Dollars 1 0,000 (Pounds 6,500) reward for information leading to Mr Colley's killers, and he asked the federal government for help in the effort to crack down on crime. He also announced plans to enlist up to 500 game wardens, agriculture inspectors and marine officers to strengthen patrols on major roads. Mr Col ley's death follows the killing last week of Mr Uwe-Wilhelm Rakebrand, a Ger man tourist, in a highway shooting in Miami. Holidaymakers are cancelling tr ips to Florida because of the attacks. Mr Greg Farmer, the Florida state sec retary of commerce, said cancellations at hotels and resorts were running at around 20 per cent after Mr Rakebrand's killing, and the latest attack woul d probably inflict more damage on the state's Dollars 31bn a year tourism in dustry. 'It is going to be just catastrophic. This is going to have a very, very negative impact,' Mr Farmer said. Mr Ken Fortune, the county sheriff, s aid he believed the couple had been chosen at random, and not targeted as fo reigners. The British and German governments already issue warnings to touri sts about the dangers of travelling in Florida, but travel agents in Europe have generally distinguished Miami from the rest of the state, and advised t heir customers to pick destinations such as Orlando or St Petersburg. Six of the foreign visitors who have fallen victim to Florida's violence in the pa st year were attacked in the Miami area, but yesterday's shooting took place in the state's quieter northern panhandle. Tallahassee is a quiet town fest ooned in Spanish moss, more akin to neighbouring Georgia or Alabama than to the brasher Miami coast. Florida's murder rate of 10.7 per 100,000 populatio n, however, is lower than Georgia's and well below the rate in states such a s Louisiana, New York and Texas. Mr Colley and Ms Jagger, from Wilsden, near Bradford, in West Yorkshire, were sleeping in their car in a rest area abou t 25 miles from Tallahassee when two teenagers approached their car and bang ed on the windows. The two assailants opened fire when the pair tried to dri ve away. An attendant at the rest area gave police a description of the atta ckers. About 40m tourists visit Florida every year, and some 17 per cent are foreigners, including an estimated 800,000 from the UK. Countr ies:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. P4724 Travel Agencies. P472 5 Tour Operators. Types:- NEWS General News. The Financial Times London Page 1 ============= Transaction # 124 ============================================== Transaction #: 124 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-3290 _AN-DIOCVAAHFT 9309 15 FT 15 SEP 93 / Florida cancels tourism campaign after murder By GEORGE GRAHAM WAS HINGTON FLORIDA'S state tourism office yesterday cancelle d its domestic and international advertising campaigns in the wake of the ki lling of a British tourist - the ninth foreign visitor to be murdered in the state in the past year. Florida police said Mr Gary Colley, aged 34, was ki lled and his friend Ms Margaret Jagger wounded when they were attacked in a lay-by near Tallahassee, the state capital, in the early hours. Ms Jagger wa s later released from hospital. Governor Lawton Chiles announced a Dollars 1 0,000 (Pounds 6,500) reward for information leading to Mr Colley's killers, and he asked the federal government for help in the effort to crack down on crime. He also announced plans to enlist up to 500 game wardens, agriculture inspectors and marine officers to strengthen patrols on major roads. Mr Col ley's death follows the killing last week of Mr Uwe-Wilhelm Rakebrand, a Ger man tourist, in a highway shooting in Miami. Holidaymakers are cancelling tr ips to Florida because of the attacks. Mr Greg Farmer, the Florida state sec retary of commerce, said cancellations at hotels and resorts were running at around 20 per cent after Mr Rakebrand's killing, and the latest attack woul d probably inflict more damage on the state's Dollars 31bn a year tourism in dustry. 'It is going to be just catastrophic. This is going to have a very, very negative impact,' Mr Farmer said. Mr Ken Fortune, the county sheriff, s aid he believed the couple had been chosen at random, and not targeted as fo reigners. The British and German governments already issue warnings to touri sts about the dangers of travelling in Florida, but travel agents in Europe have generally distinguished Miami from the rest of the state, and advised t heir customers to pick destinations such as Orlando or St Petersburg. Six of the foreign visitors who have fallen victim to Florida's violence in the pa st year were attacked in the Miami area, but yesterday's shooting took place in the state's quieter northern panhandle. Tallahassee is a quiet town fest ooned in Spanish moss, more akin to neighbouring Georgia or Alabama than to the brasher Miami coast. Florida's murder rate of 10.7 per 100,000 populatio n, however, is lower than Georgia's and well below the rate in states such a s Louisiana, New York and Texas. Mr Colley and Ms Jagger, from Wilsden, near Bradford, in West Yorkshire, were sleeping in their car in a rest area abou t 25 miles from Tallahassee when two teenagers approached their car and bang ed on the windows. The two assailants opened fire when the pair tried to dri ve away. An attendant at the rest area gave police a description of the atta ckers. About 40m tourists visit Florida every year, and some 17 per cent are foreigners, including an estimated 800,000 from the UK. Countr ies:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. P4724 Travel Agencies. P472 5 Tour Operators. Types:- NEWS General News. The Financial Times London Page 1 ============= Transaction # 125 ============================================== Transaction #: 125 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 26 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: FT943-9495 _AN-EHKC0AA0FT 9408 11 FT 11 AUG 94 / Israel and PLO agree to speed talks By JULIAN OZANNE JERUSALEM Israel and the Palestine Liberation Organisation yesterday a greed on a series of high-level meetings to speed negotiations after a tough and tense summit at the Erez crossing point into Gaza. The meetings will ad dress the extension of Palestinian self rule from Gaza-Jericho to the rest o f the West Bank and Palestinian national elections. The summit between Israe li Prime Minister Yitzhak Rabin and PLO Chairman Yassir Arafat followed rece nt attacks in which each side accused the other of failing to live up to the pledges of their peace accords. The PLO said Israel had reneged on promises to release Palestinian prisoners and is delaying implementing extension of self-rule from Gaza-Jericho across the rest of the Israeli-occupied West Ban k. Mr Arafat was furious when Israel signed an interim peace deal with Jorda n and recognised King Hussein's special role as guardian of Islamic sites in future talks over Jerusalem. The PLO claims occupied Arab East Jerusalem as its political capital. Israel in turn accused the PLO of not containing vio lence against Israeli soldiers who remain in Gaza. Israeli officials said Mr Warren Christopher, US Secretary of State, who met Mr Rabin and Mr Arafat d uring his regional shuttle earlier this week, had been sympathetic to Palest inian frustrations and had encouraged Israel to revive the momentum of peace talks with the PLO. The tortuous negotiations between Israel and the PLO ha ve been in marked contrast to the smooth and speedy Israeli-Jordanian peace talks. Jordan and Israel continued making swift progress in talks yesterday. Israeli radio said the two sides agreed to joint promotion of regional tour ism and would produce a joint tourist brochure within 10 days. They also agr eed to begin connecting their electricity grids next week. After the summit Mr Rabin said he had expressed concern about Palestinian violence against Is raelis and stressed Israel's abiding focus on security. Mr Rabin strongly cr iticised remarks by Mr Farouk Kadoumi, PLO Foreign minister, who called on M onday for the destruction of Israel. 'I hope that on the Israeli side and th e Palestinian side tension and violence will be reduced, and statements that undermine or are against what we are committed to will not be heard,' he sa id. A more confident Mr Arafat, who last week warned of an 'explosion' unles s Israel fulfilled its obligations. US foreign aid, Page 4 Coun tries:- ILZ Israel, Middle East. Industries:- P9721 International Affairs. Types:- NEWS General Ne ws. The Financial Times London Page 3 ============= Transaction # 126 ============================================== Transaction #: 126 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 27 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: FT941-4211 _AN-ECMANAAJFT 9403 12 FT 12 MAR 94 / IRA believes attacks will lead to Ulst er concessions By MICHAEL CASSELL, JIMMY BURNS and M ICHAEL SKAPINKER Mr Gerry Adams, Sinn Fein president, indic ated yesterday that the IRA believes it can win further political concession s from the British government by keeping up its campaign of violence. As a s ecurity review at Heathrow airport was completed following two mortar attack s in less than 36 hours, Mr Adams said that the incidents 'should have a maj or accelerating effect upon the British government'. On Thursday, he had war ned of more 'spectacular' reminders that the conflict was continuing. His la test remarks came as the row intensified over security at Heathrow and Scotl and Yard confirmed it had undertaken a thorough review of security arrangeme nts at the airport. Mr John Major, the prime minister, and Mr Albert Reynold s, his Irish counterpart, yesterday issued a defiant joint statement saying the 'men of violence' would not deflect the two governments in their search for peace. With some Tory MPs demanding a security crackdown on the IRA and Labour accusing ministers of 'delay, neglect and wrong priorities' over airp ort security, the two leaders accused supporters of violence of making 'a gr ave miscalculation' and committed the security forces to a continuing anti-t errorist drive. As well as an increase in the number of police, options bein g considered as a result of the Heathrow security review are thought to incl ude increased video surveillance and temporary road blocks. The Ministry of Defence said last night that the army was prepared to help patrol the airpor t. Anti-terrorist experts are trying to establish why mortars fired on Heath row in the two attacks failed to detonate. One theory is that they were desi gned not to explode on impact, generating publicity but minimising the polit ical risk of large-scale casualties. Balpa, the pilots' union, said it had l aunched its own investigation into apparent security lapses at the airport. Pilots are concerned that after the first mortar attack on the airport's nor thern runway on Wednesday night, more than 20 aircraft were allowed to take off before it was closed. BAA said last night that Heathrow was fully operat ional. The British Tourist Authority reported little reaction to the attacks . Mr Stuart Crouch, chairman of the British Incoming Tour Operators' Associa tion, said he had received no reports of foreign visitors cancelling UK trip s. An impossible security task, Page 5 Legal limit of safety, Page 7 Countries:- GBZ United Kingdom, EC. IEZ Ireland, EC. < /CN> Industries:- P8651 Political Organizations. P9229 Pu blic Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 1 ============= Transaction # 127 ============================================== Transaction #: 127 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 28 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: FT933-281 _AN-DI2CRAGZFT 93092 9 FT 29 SEP 93 / Survey of Peru (26): A paradise for pio neering spirits - The tourist industry is working to change the country's ne gative image By SALLY BOWEN THE anc ient Inca festival of Inti Raymi, celebrating the midsummer solstice, is one of Peru's great tourist occasions. In a spectacular three-hour pageant insi de the sacred fortress of Sacsayhuaman, Cuzco, locals re-enact the legendary clash between the Inca and Spanish cultures. Fantastically colourful costum es and swirling dances accompanied by a solemn narrative intoned in Quechua make for an unforgettable experience. Much of the charm of festivals such as Inti Raymi - repeated on different themes and different levels of splendour throughout the year in every Peruvian town, village and hamlet - is that th ey are not organised for the tourist. They are times when local people aband on everyday austerity and give themselves over totally to music, dance, reli gious or pagan ritual - and drink. Tourism in Peru is not for the faint-hear ted. With a few important exceptions, a certain pioneering spirit is require d. Travelling by road and air, while easier every day, demands stamina and g ood humour - flights may be cancelled without warning, carefully booked hote l reservations may prove untraceable. For the past five years, numbers of to urists have plummeted from a high of 120,000 to maybe a quarter of that. Any news abroad concerning Peru seemed bad news. Hyperinflation, economic chaos and guerrilla violence (although tourists were rarely caught up in it) kept all but the most adventurous - some would say the foolhardy - away. Now Per u is working hard to change that image. 'Tourism is the great multiplier,' s ays Mr Victor Joy Way, third vice-president of Peru, formerly minister of tr ade and tourism. 'It creates a market for craftsmen, a boost for restaurant- owners, taxi drivers, tour guides - almost everyone in a community benefits. ' The fall-off in tourism has hit Cuzco, the ancient Inca capital, worst of all. 'More than 95 per cent of local inhabitants are partially dependent on tourism,' says Mr Edwin Gonzalez, manager of El Libertador hotel and a direc tor of the hoteliers' chamber. 'Since the 1988 collapse, many hotels have cl osed, special tourist buses have been sold and experienced staff have found other jobs. When the tourists come back in numbers, we'll be unprepared.' Ju ne and July were better months, however. Occupancy rates, at about 25 per ce nt, were up on the previous year, although well below the 40 per cent needed to break even. Europeans currently account for over half of all visitors to Cuzco, according to Mr Gonzalez, replacing the Americans who are still diss uaded by their embassy from travelling within Peru. Lima hotels are now busi er than for several years past, although the mini-boom is largely business-l ed, according to Mr Eduardo Arrarte, president of Canatur, the national tour ist chamber. He points out that international recession has hit the tourist industry worldwide in recent years, but 'Peru's image is still bad, or it ha s improved only at the highest, governmental levels. The message hasn't got down to the travelling public yet.' Changing trends in world tourism should eventually favour Peru, he says. The average tourist, who wants to visit as many places as quickly as possible, will be the mainstay of the market for m any years to come, but specialist tours are in ever greater demand. Peru is a paradise for nature-lovers, bird-watchers and butterfly enthusiasts; the h igh Andes are wonderful, largely unexplored terrain for hikers and climbers; and alongside the long-famous Inca cities of Cuzco and Machu Picchu are doz ens of less familiar sites and less renowned cultures. Adventure tourism is also growing. Paragliding and bungee-jumping have caught on, while opportuni ties abound for white-water rafting, some as little as two hours away from L ima. Peru's Pacific rollers draw surfers from many countries. While convince d that development of tourism must be a matter for the private sector, the g overnment is doing what it can to provide the bases for growth. Deregulation of domestic airways has already spawned a clutch of small airline companies which have inaugurated new air services to a number of hitherto remote prov incial towns. And the transport ministry has made a priority of asphalting s tretches of roads leading to tourist attractions. Outside Lima, hotel infras tructure leaves much to be desired. But investment has already begun. The di scovery of the tomb of the Lord of Sipan led directly to the construction of three new hotels in the nearby coastal city of Chiclayo. And El Libertador, Cuzco's leading hotel, is expanding capacity from 130 rooms to 250 in antic ipation of a tourist boom. South Korean hoteliers are reported to be taking a close look at investment opportunities in Cuzco. Their government has offe red Peru Dollars 18m to rehabilitate the city's airport and feasibility stud ies are under way. One prime hotel property which could soon become availabl e is the former monastery of San Antonio Abad, owned by Cuzco's archbishopri c. Dollars 4m has already been spent on it. The government and Canatur would like to see cities such as Ayacucho - most famous as the cradle of Maoist g uerrilla movement Shining Path, but also one of Peru's loveliest colonial to wns - become tourist centres. Official estimates are that the average touris t spends Dollars 1,200 in a week's stay, a potentially huge boost to nationa l and local economies. 'The first tourists will be guinea-pigs, of course,' admits Mr Arrarte. 'They'll be roughing it a bit, but that's how it always s tarts. I bet we find some very happy pioneers for Ayacucho.' One opportunity to 'sell' Peru falls on November 4 next year, when a total solar eclipse wi ll be visible from the southern Peruvian coast. All 5,000 available hotel be ds in the area have already been reserved by international travel agencies. 'When those people come, visit a few other places, go home safe and happy an d tell their friends, it'll be the best promotion we've had for years,' says Mr Arrarte. it Countries:- PEZ Peru, South America. Industries:- P79 Amusement and Recreation Services. P7011 Hotels and Motels. Types:- CMMT Comment & An alysis. The Financial Times London Page XI ============= Transaction # 128 ============================================== Transaction #: 128 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 28 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: FT933-281 _AN-DI2CRAGZFT 93092 9 FT 29 SEP 93 / Survey of Peru (26): A paradise for pio neering spirits - The tourist industry is working to change the country's ne gative image By SALLY BOWEN THE anc ient Inca festival of Inti Raymi, celebrating the midsummer solstice, is one of Peru's great tourist occasions. In a spectacular three-hour pageant insi de the sacred fortress of Sacsayhuaman, Cuzco, locals re-enact the legendary clash between the Inca and Spanish cultures. Fantastically colourful costum es and swirling dances accompanied by a solemn narrative intoned in Quechua make for an unforgettable experience. Much of the charm of festivals such as Inti Raymi - repeated on different themes and different levels of splendour throughout the year in every Peruvian town, village and hamlet - is that th ey are not organised for the tourist. They are times when local people aband on everyday austerity and give themselves over totally to music, dance, reli gious or pagan ritual - and drink. Tourism in Peru is not for the faint-hear ted. With a few important exceptions, a certain pioneering spirit is require d. Travelling by road and air, while easier every day, demands stamina and g ood humour - flights may be cancelled without warning, carefully booked hote l reservations may prove untraceable. For the past five years, numbers of to urists have plummeted from a high of 120,000 to maybe a quarter of that. Any news abroad concerning Peru seemed bad news. Hyperinflation, economic chaos and guerrilla violence (although tourists were rarely caught up in it) kept all but the most adventurous - some would say the foolhardy - away. Now Per u is working hard to change that image. 'Tourism is the great multiplier,' s ays Mr Victor Joy Way, third vice-president of Peru, formerly minister of tr ade and tourism. 'It creates a market for craftsmen, a boost for restaurant- owners, taxi drivers, tour guides - almost everyone in a community benefits. ' The fall-off in tourism has hit Cuzco, the ancient Inca capital, worst of all. 'More than 95 per cent of local inhabitants are partially dependent on tourism,' says Mr Edwin Gonzalez, manager of El Libertador hotel and a direc tor of the hoteliers' chamber. 'Since the 1988 collapse, many hotels have cl osed, special tourist buses have been sold and experienced staff have found other jobs. When the tourists come back in numbers, we'll be unprepared.' Ju ne and July were better months, however. Occupancy rates, at about 25 per ce nt, were up on the previous year, although well below the 40 per cent needed to break even. Europeans currently account for over half of all visitors to Cuzco, according to Mr Gonzalez, replacing the Americans who are still diss uaded by their embassy from travelling within Peru. Lima hotels are now busi er than for several years past, although the mini-boom is largely business-l ed, according to Mr Eduardo Arrarte, president of Canatur, the national tour ist chamber. He points out that international recession has hit the tourist industry worldwide in recent years, but 'Peru's image is still bad, or it ha s improved only at the highest, governmental levels. The message hasn't got down to the travelling public yet.' Changing trends in world tourism should eventually favour Peru, he says. The average tourist, who wants to visit as many places as quickly as possible, will be the mainstay of the market for m any years to come, but specialist tours are in ever greater demand. Peru is a paradise for nature-lovers, bird-watchers and butterfly enthusiasts; the h igh Andes are wonderful, largely unexplored terrain for hikers and climbers; and alongside the long-famous Inca cities of Cuzco and Machu Picchu are doz ens of less familiar sites and less renowned cultures. Adventure tourism is also growing. Paragliding and bungee-jumping have caught on, while opportuni ties abound for white-water rafting, some as little as two hours away from L ima. Peru's Pacific rollers draw surfers from many countries. While convince d that development of tourism must be a matter for the private sector, the g overnment is doing what it can to provide the bases for growth. Deregulation of domestic airways has already spawned a clutch of small airline companies which have inaugurated new air services to a number of hitherto remote prov incial towns. And the transport ministry has made a priority of asphalting s tretches of roads leading to tourist attractions. Outside Lima, hotel infras tructure leaves much to be desired. But investment has already begun. The di scovery of the tomb of the Lord of Sipan led directly to the construction of three new hotels in the nearby coastal city of Chiclayo. And El Libertador, Cuzco's leading hotel, is expanding capacity from 130 rooms to 250 in antic ipation of a tourist boom. South Korean hoteliers are reported to be taking a close look at investment opportunities in Cuzco. Their government has offe red Peru Dollars 18m to rehabilitate the city's airport and feasibility stud ies are under way. One prime hotel property which could soon become availabl e is the former monastery of San Antonio Abad, owned by Cuzco's archbishopri c. Dollars 4m has already been spent on it. The government and Canatur would like to see cities such as Ayacucho - most famous as the cradle of Maoist g uerrilla movement Shining Path, but also one of Peru's loveliest colonial to wns - become tourist centres. Official estimates are that the average touris t spends Dollars 1,200 in a week's stay, a potentially huge boost to nationa l and local economies. 'The first tourists will be guinea-pigs, of course,' admits Mr Arrarte. 'They'll be roughing it a bit, but that's how it always s tarts. I bet we find some very happy pioneers for Ayacucho.' One opportunity to 'sell' Peru falls on November 4 next year, when a total solar eclipse wi ll be visible from the southern Peruvian coast. All 5,000 available hotel be ds in the area have already been reserved by international travel agencies. 'When those people come, visit a few other places, go home safe and happy an d tell their friends, it'll be the best promotion we've had for years,' says Mr Arrarte. it Countries:- PEZ Peru, South America. Industries:- P79 Amusement and Recreation Services. P7011 Hotels and Motels. Types:- CMMT Comment & An alysis. The Financial Times London Page XI ============= Transaction # 129 ============================================== Transaction #: 129 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 28 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: FT933-281 _AN-DI2CRAGZFT 93092 9 FT 29 SEP 93 / Survey of Peru (26): A paradise for pio neering spirits - The tourist industry is working to change the country's ne gative image By SALLY BOWEN THE anc ient Inca festival of Inti Raymi, celebrating the midsummer solstice, is one of Peru's great tourist occasions. In a spectacular three-hour pageant insi de the sacred fortress of Sacsayhuaman, Cuzco, locals re-enact the legendary clash between the Inca and Spanish cultures. Fantastically colourful costum es and swirling dances accompanied by a solemn narrative intoned in Quechua make for an unforgettable experience. Much of the charm of festivals such as Inti Raymi - repeated on different themes and different levels of splendour throughout the year in every Peruvian town, village and hamlet - is that th ey are not organised for the tourist. They are times when local people aband on everyday austerity and give themselves over totally to music, dance, reli gious or pagan ritual - and drink. Tourism in Peru is not for the faint-hear ted. With a few important exceptions, a certain pioneering spirit is require d. Travelling by road and air, while easier every day, demands stamina and g ood humour - flights may be cancelled without warning, carefully booked hote l reservations may prove untraceable. For the past five years, numbers of to urists have plummeted from a high of 120,000 to maybe a quarter of that. Any news abroad concerning Peru seemed bad news. Hyperinflation, economic chaos and guerrilla violence (although tourists were rarely caught up in it) kept all but the most adventurous - some would say the foolhardy - away. Now Per u is working hard to change that image. 'Tourism is the great multiplier,' s ays Mr Victor Joy Way, third vice-president of Peru, formerly minister of tr ade and tourism. 'It creates a market for craftsmen, a boost for restaurant- owners, taxi drivers, tour guides - almost everyone in a community benefits. ' The fall-off in tourism has hit Cuzco, the ancient Inca capital, worst of all. 'More than 95 per cent of local inhabitants are partially dependent on tourism,' says Mr Edwin Gonzalez, manager of El Libertador hotel and a direc tor of the hoteliers' chamber. 'Since the 1988 collapse, many hotels have cl osed, special tourist buses have been sold and experienced staff have found other jobs. When the tourists come back in numbers, we'll be unprepared.' Ju ne and July were better months, however. Occupancy rates, at about 25 per ce nt, were up on the previous year, although well below the 40 per cent needed to break even. Europeans currently account for over half of all visitors to Cuzco, according to Mr Gonzalez, replacing the Americans who are still diss uaded by their embassy from travelling within Peru. Lima hotels are now busi er than for several years past, although the mini-boom is largely business-l ed, according to Mr Eduardo Arrarte, president of Canatur, the national tour ist chamber. He points out that international recession has hit the tourist industry worldwide in recent years, but 'Peru's image is still bad, or it ha s improved only at the highest, governmental levels. The message hasn't got down to the travelling public yet.' Changing trends in world tourism should eventually favour Peru, he says. The average tourist, who wants to visit as many places as quickly as possible, will be the mainstay of the market for m any years to come, but specialist tours are in ever greater demand. Peru is a paradise for nature-lovers, bird-watchers and butterfly enthusiasts; the h igh Andes are wonderful, largely unexplored terrain for hikers and climbers; and alongside the long-famous Inca cities of Cuzco and Machu Picchu are doz ens of less familiar sites and less renowned cultures. Adventure tourism is also growing. Paragliding and bungee-jumping have caught on, while opportuni ties abound for white-water rafting, some as little as two hours away from L ima. Peru's Pacific rollers draw surfers from many countries. While convince d that development of tourism must be a matter for the private sector, the g overnment is doing what it can to provide the bases for growth. Deregulation of domestic airways has already spawned a clutch of small airline companies which have inaugurated new air services to a number of hitherto remote prov incial towns. And the transport ministry has made a priority of asphalting s tretches of roads leading to tourist attractions. Outside Lima, hotel infras tructure leaves much to be desired. But investment has already begun. The di scovery of the tomb of the Lord of Sipan led directly to the construction of three new hotels in the nearby coastal city of Chiclayo. And El Libertador, Cuzco's leading hotel, is expanding capacity from 130 rooms to 250 in antic ipation of a tourist boom. South Korean hoteliers are reported to be taking a close look at investment opportunities in Cuzco. Their government has offe red Peru Dollars 18m to rehabilitate the city's airport and feasibility stud ies are under way. One prime hotel property which could soon become availabl e is the former monastery of San Antonio Abad, owned by Cuzco's archbishopri c. Dollars 4m has already been spent on it. The government and Canatur would like to see cities such as Ayacucho - most famous as the cradle of Maoist g uerrilla movement Shining Path, but also one of Peru's loveliest colonial to wns - become tourist centres. Official estimates are that the average touris t spends Dollars 1,200 in a week's stay, a potentially huge boost to nationa l and local economies. 'The first tourists will be guinea-pigs, of course,' admits Mr Arrarte. 'They'll be roughing it a bit, but that's how it always s tarts. I bet we find some very happy pioneers for Ayacucho.' One opportunity to 'sell' Peru falls on November 4 next year, when a total solar eclipse wi ll be visible from the southern Peruvian coast. All 5,000 available hotel be ds in the area have already been reserved by international travel agencies. 'When those people come, visit a few other places, go home safe and happy an d tell their friends, it'll be the best promotion we've had for years,' says Mr Arrarte. it Countries:- PEZ Peru, South America. Industries:- P79 Amusement and Recreation Services. P7011 Hotels and Motels. Types:- CMMT Comment & An alysis. The Financial Times London Page XI ============= Transaction # 130 ============================================== Transaction #: 130 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT921-1436 _AN-CCXBBAFGFT 9203 24 FT 24 MAR 92 / An angry church confronts a troubled s tate in Kenya: Recent violence is feared to be related to official warnings of the danger of multi-party politics By MICHAEL HOL MAN BURSTS of applause punctuating a passionate speech and ice-cream vendors hovering on the edge of the crowd created the atmosphere o f a political rally. In fact, angry church was confronting troubled state at Nairobi's Holy Family Minor Basilica, where Sunday's huge congregation had spilled over into the forecourt. Reading from a pastoral letter, the Roman C atholic Archbishop of Nairobi, Cardinal Maurice Otunga challenged President Daniel arap Moi's commitment to multi-party politics, and accused the govern ment of instigating the violence in western Kenya that has cost more than 60 lives over the past three weeks. The near-euphoria that greeted the repeal last December of the ban on opposition parties has gone. In its place are gr owing doubts about Kenya's capacity to manage the transition to democracy. R ecent riots in Nairobi, tribal clashes in the west, an economy in difficulti es, and continuing aid donor dissatisfaction with government policies are pu tting the 68-year-old president and the ruling Kanu party under severe test. Last year's expectations of an early general election have proved wishful t hinking. 'When he ended one-party rule,' says one critic, 'we weren't sure w hether he was being a Kaunda or a Mobutu' - distinguishing between the forme r Zambian president's acceptance of defeat in a general election last Octobe r, and President Sese Seko Mobutu's determination to cling to power in Zaire . 'We are starting to think that he is a Mobutu,' he said. President Moi's w arnings that multi-party politics would lead only to inter-tribal violence h ave started to look like a self-fulfilling prophecy, designed to delay - per haps indefinitely - an election Kanu seems increasingly likely to lose. The ban last week on political meetings - intended, says the government, to stop the violence, not curb debate - fuelled suspicions. They are apparently sha red by the country's Roman Catholic bishops. 'Well-trained bandits,' the pas toral letter claimed, were responsible for the killings in western Kenya, wh ere members of the president's minority Kalenjin clan have clashed with Luo and Luhya tribes. The killings were 'part of a wider political strategy', cl aimed the bishops: 'The whole issue is officially presented to the public as a clear sign of the failure of the multi-party system in this country.' Yet even if the government could in this way stifle the opposition, economic an d political imperatives have caught President Moi in a squeeze. The first se t of pressures is external. Western assistance to Kenya is vital, with the p roportion of grants to gross domestic product rising from 1 per cent in 1986 to 3 per cent in 1990. During the 1980s Kenya covered its USDollars 3bn acc umulated budget deficit with disbursements from the World Bank and bilateral donors. The same donors turned this assistance into leverage last November, insisting at a meeting in Paris that new aid would be conditional on faster implementation of economic and political reforms. The bind Mr Moi now finds himself in is that the economic measures expected of him - such as trimming the overstaffed state bureaucracy and charging for social services - will f ree held-up aid, but will count heavily against him at the ballot box. Meanw hile other internal economic pressures, coming on top of high unemployment a nd weak prices for tea and coffee, the two leading exports, are mounting. Po or rains have made it likely that Kenya must import 500,000 tonnes of maize this year. But strained relations with donors will make concessional supplie s difficult to obtain. And the tourist trade, the largest foreign exchange e arner, may be hit by the international publicity given to recent attacks on tourists (albeit a handful out of the 750,000 visitors each year). The only way out, most western diplomats believe, is for Mr Moi to bite the bullet an d call an election: 'Only the president,' said one ambassador, 'can set the positive tone for which the country cries out.' --------------------------- --------------- BALANCE OF PAYMENTS (SDRS M) --------------------------- --------------- 1990 1991 1992 ------------------- ----------------------- Exports 740 755 860 Imports 1,702 1,618 1,745 Trade deficit 962 863 885 Net serv ices 341 324 380 Net transfers 275 235 230 Curr ent account -346 -304 -275 Net capital 238 208 230 Overall balance -108 -96 -45 ----------------------------------- ------- 1SDR=Dollars 1.36 Source: Kenya government ------------------------ ------------------ The Financial Times London Pag e 4 ============= Transaction # 131 ============================================== Transaction #: 131 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT921-1436 _AN-CCXBBAFGFT 9203 24 FT 24 MAR 92 / An angry church confronts a troubled s tate in Kenya: Recent violence is feared to be related to official warnings of the danger of multi-party politics By MICHAEL HOL MAN BURSTS of applause punctuating a passionate speech and ice-cream vendors hovering on the edge of the crowd created the atmosphere o f a political rally. In fact, angry church was confronting troubled state at Nairobi's Holy Family Minor Basilica, where Sunday's huge congregation had spilled over into the forecourt. Reading from a pastoral letter, the Roman C atholic Archbishop of Nairobi, Cardinal Maurice Otunga challenged President Daniel arap Moi's commitment to multi-party politics, and accused the govern ment of instigating the violence in western Kenya that has cost more than 60 lives over the past three weeks. The near-euphoria that greeted the repeal last December of the ban on opposition parties has gone. In its place are gr owing doubts about Kenya's capacity to manage the transition to democracy. R ecent riots in Nairobi, tribal clashes in the west, an economy in difficulti es, and continuing aid donor dissatisfaction with government policies are pu tting the 68-year-old president and the ruling Kanu party under severe test. Last year's expectations of an early general election have proved wishful t hinking. 'When he ended one-party rule,' says one critic, 'we weren't sure w hether he was being a Kaunda or a Mobutu' - distinguishing between the forme r Zambian president's acceptance of defeat in a general election last Octobe r, and President Sese Seko Mobutu's determination to cling to power in Zaire . 'We are starting to think that he is a Mobutu,' he said. President Moi's w arnings that multi-party politics would lead only to inter-tribal violence h ave started to look like a self-fulfilling prophecy, designed to delay - per haps indefinitely - an election Kanu seems increasingly likely to lose. The ban last week on political meetings - intended, says the government, to stop the violence, not curb debate - fuelled suspicions. They are apparently sha red by the country's Roman Catholic bishops. 'Well-trained bandits,' the pas toral letter claimed, were responsible for the killings in western Kenya, wh ere members of the president's minority Kalenjin clan have clashed with Luo and Luhya tribes. The killings were 'part of a wider political strategy', cl aimed the bishops: 'The whole issue is officially presented to the public as a clear sign of the failure of the multi-party system in this country.' Yet even if the government could in this way stifle the opposition, economic an d political imperatives have caught President Moi in a squeeze. The first se t of pressures is external. Western assistance to Kenya is vital, with the p roportion of grants to gross domestic product rising from 1 per cent in 1986 to 3 per cent in 1990. During the 1980s Kenya covered its USDollars 3bn acc umulated budget deficit with disbursements from the World Bank and bilateral donors. The same donors turned this assistance into leverage last November, insisting at a meeting in Paris that new aid would be conditional on faster implementation of economic and political reforms. The bind Mr Moi now finds himself in is that the economic measures expected of him - such as trimming the overstaffed state bureaucracy and charging for social services - will f ree held-up aid, but will count heavily against him at the ballot box. Meanw hile other internal economic pressures, coming on top of high unemployment a nd weak prices for tea and coffee, the two leading exports, are mounting. Po or rains have made it likely that Kenya must import 500,000 tonnes of maize this year. But strained relations with donors will make concessional supplie s difficult to obtain. And the tourist trade, the largest foreign exchange e arner, may be hit by the international publicity given to recent attacks on tourists (albeit a handful out of the 750,000 visitors each year). The only way out, most western diplomats believe, is for Mr Moi to bite the bullet an d call an election: 'Only the president,' said one ambassador, 'can set the positive tone for which the country cries out.' --------------------------- --------------- BALANCE OF PAYMENTS (SDRS M) --------------------------- --------------- 1990 1991 1992 ------------------- ----------------------- Exports 740 755 860 Imports 1,702 1,618 1,745 Trade deficit 962 863 885 Net serv ices 341 324 380 Net transfers 275 235 230 Curr ent account -346 -304 -275 Net capital 238 208 230 Overall balance -108 -96 -45 ----------------------------------- ------- 1SDR=Dollars 1.36 Source: Kenya government ------------------------ ------------------ The Financial Times London Pag e 4 ============= Transaction # 132 ============================================== Transaction #: 132 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT921-1436 _AN-CCXBBAFGFT 9203 24 FT 24 MAR 92 / An angry church confronts a troubled s tate in Kenya: Recent violence is feared to be related to official warnings of the danger of multi-party politics By MICHAEL HOL MAN BURSTS of applause punctuating a passionate speech and ice-cream vendors hovering on the edge of the crowd created the atmosphere o f a political rally. In fact, angry church was confronting troubled state at Nairobi's Holy Family Minor Basilica, where Sunday's huge congregation had spilled over into the forecourt. Reading from a pastoral letter, the Roman C atholic Archbishop of Nairobi, Cardinal Maurice Otunga challenged President Daniel arap Moi's commitment to multi-party politics, and accused the govern ment of instigating the violence in western Kenya that has cost more than 60 lives over the past three weeks. The near-euphoria that greeted the repeal last December of the ban on opposition parties has gone. In its place are gr owing doubts about Kenya's capacity to manage the transition to democracy. R ecent riots in Nairobi, tribal clashes in the west, an economy in difficulti es, and continuing aid donor dissatisfaction with government policies are pu tting the 68-year-old president and the ruling Kanu party under severe test. Last year's expectations of an early general election have proved wishful t hinking. 'When he ended one-party rule,' says one critic, 'we weren't sure w hether he was being a Kaunda or a Mobutu' - distinguishing between the forme r Zambian president's acceptance of defeat in a general election last Octobe r, and President Sese Seko Mobutu's determination to cling to power in Zaire . 'We are starting to think that he is a Mobutu,' he said. President Moi's w arnings that multi-party politics would lead only to inter-tribal violence h ave started to look like a self-fulfilling prophecy, designed to delay - per haps indefinitely - an election Kanu seems increasingly likely to lose. The ban last week on political meetings - intended, says the government, to stop the violence, not curb debate - fuelled suspicions. They are apparently sha red by the country's Roman Catholic bishops. 'Well-trained bandits,' the pas toral letter claimed, were responsible for the killings in western Kenya, wh ere members of the president's minority Kalenjin clan have clashed with Luo and Luhya tribes. The killings were 'part of a wider political strategy', cl aimed the bishops: 'The whole issue is officially presented to the public as a clear sign of the failure of the multi-party system in this country.' Yet even if the government could in this way stifle the opposition, economic an d political imperatives have caught President Moi in a squeeze. The first se t of pressures is external. Western assistance to Kenya is vital, with the p roportion of grants to gross domestic product rising from 1 per cent in 1986 to 3 per cent in 1990. During the 1980s Kenya covered its USDollars 3bn acc umulated budget deficit with disbursements from the World Bank and bilateral donors. The same donors turned this assistance into leverage last November, insisting at a meeting in Paris that new aid would be conditional on faster implementation of economic and political reforms. The bind Mr Moi now finds himself in is that the economic measures expected of him - such as trimming the overstaffed state bureaucracy and charging for social services - will f ree held-up aid, but will count heavily against him at the ballot box. Meanw hile other internal economic pressures, coming on top of high unemployment a nd weak prices for tea and coffee, the two leading exports, are mounting. Po or rains have made it likely that Kenya must import 500,000 tonnes of maize this year. But strained relations with donors will make concessional supplie s difficult to obtain. And the tourist trade, the largest foreign exchange e arner, may be hit by the international publicity given to recent attacks on tourists (albeit a handful out of the 750,000 visitors each year). The only way out, most western diplomats believe, is for Mr Moi to bite the bullet an d call an election: 'Only the president,' said one ambassador, 'can set the positive tone for which the country cries out.' --------------------------- --------------- BALANCE OF PAYMENTS (SDRS M) --------------------------- --------------- 1990 1991 1992 ------------------- ----------------------- Exports 740 755 860 Imports 1,702 1,618 1,745 Trade deficit 962 863 885 Net serv ices 341 324 380 Net transfers 275 235 230 Curr ent account -346 -304 -275 Net capital 238 208 230 Overall balance -108 -96 -45 ----------------------------------- ------- 1SDR=Dollars 1.36 Source: Kenya government ------------------------ ------------------ The Financial Times London Pag e 4 ============= Transaction # 133 ============================================== Transaction #: 133 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-4952 _AN-CK3BQAALFT 9211 30 FT 30 NOV 92 / Kohl pledges fight against extremists: Israel condemns neo-Nazism By JUDY DEMPSEY and HUGH CARNEGY BONN, JERUSALEM MR HELMU T KOHL, the German Chancellor, yesterday vowed to combat right-wing extremis m as part of a two-pronged strategy aimed at reassuring the country's 6m for eigners and restoring Germany's tarnished image abroad. Mr Kohl, speaking on German radio just three days after the Interior Ministry said it had banned the extreme right-wing Nationalist Front, said the 'full force of the law w ould be applied' against those involved in attacks on foreigners. At the sam e time, the country's main tourist agencies yesterday carried full-page adve rtisements in the main newspapers, condemning the attacks on foreigners, and reassuring the international community that the country remained a haven an d home for foreigners. Mr Kohl's interview followed a fresh attack on a refu gee hostel in the eastern German town of Eberswalde, in which 18 rooms inhab ited by Bulgarian and Romanian refugees were gutted by fire, and a weekend o f anti-racism demonstrations throughout Germany. Yesterday, Israel issued it s sharpest condemnation to date of the spate of racist violence with Mr Yitz hak Rabin, the prime minister, calling on the authorities to 'crush the head of the snake while it is small'. An official statement issued after a long cabinet meeting in Jerusalem said the Jewish state viewed with deep concern 'the phenomena of neo-Nazism, racism and anti-Semitism'. It added: 'The gove rnment demands that the matter be dealt with with the full severity of the l aw and that everything necessary will be done to prevent these phenomena.' T he cabinet rejected demands from opposition MPs and one government member th at Jews from Israel and elsewhere should boycott Germany by refusing to trav el to the country. Instead, the statement expressed appreciation for those i n Germany who 'struggle against racism and anti-Semitism'. But three MPs pos tponed indefinitely a trip to Germany scheduled for this week in protest at Bonn's failure to take stronger action against neo-Nazi violence. Public opi nion in Germany is rallying behind the government's pledge to curb the rise of the far-right, though Mr Kohl's ruling Christian Democratic Union and its Bavarian-based sister party, the Christian Social Union, have been accused of reacting too slowly to extremism. Efforts to contain the violence runs in parallel with talks by the main political parties about how to amend the co nstitutional right to asylum, which guarantees the right of any individual t o seek political asylum in Germany. Talks at amending the constitution - whi ch would speed the application process, and at the same time restrict the ri ght to entry under this article -were postponed yesterday. Mr Wolfgang Scha uble, the CDU'S parliamentary leader, yesterday said the talks would resume on Wednesday. The Financial Times London Page 3 < /PAGE> ============= Transaction # 134 ============================================== Transaction #: 134 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-8057 _AN-CKMB5AA4FT 9211 13 FT 13 NOV 92 / German tourists attacked in Egypt By REUTER CAIRO Five German tourists and two Egyptians were wounded yesterday when gunmen described by police as Moslem militants opened fire on their bus in Qena in the southern Nile valley, Reuter reports from Cairo. It was the fourth seri ous attack on tourists since Moslem militants fighting an underground war wi th the government warned in September that tourists would not be safe in Qen a province, site of some of Egypt's most famous Pharaonic temples and tombs. The government has reacted vigorously to the spate of attacks on tourists, promising to fly helicopter patrols over tourist areas and vowing tougher po lice measures against the militants. This week it announced all mosques woul d be put under state control. The Financial Times London Page 4 ============= Transaction # 135 ============================================== Transaction #: 135 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 32 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: FT923-4657 _AN-CIFAEABFFT 9209 05 FT 05 SEP 92 / Township violence reports 'biased' By PATTI WALDMEIR JOHANNESBURG BIASED reporting of township violence in South Africa is hindering both peace talks and constitutional negotiations, according to the South African Institute of Race Relations, which has published a report det ailing what it calls an international campaign of 'disinformation' about Sou th African violence. Organisations such as Amnesty International, the Intern ational Commission of Jurists and the South African-based Human Rights Commi ssion 'distort the causes of violence', the Institute says. In its 50-page r eport, it details cases in which these three organisations have 'ignored the rules of evidence', elevated allegation to the level of fact and reported e vidence selectively. All three organisations accuse the mainly Zulu Inkatha Freedom Party of being the main perpetrator of political violence, in collus ion with the South African police. But, the report says, they ignore the ANC 's role in township violence: it argues that the ANC's policy of rendering S outh Africa ungovernable in the mid-1980s has left a legacy of violence whic h is difficult to overcome, and provides evidence that intimidation and coer cion often accompany the ANC's mass action campaigns, further fuelling viole nce. The report notes that the ANC often relies on the reports of these orga nisations to substantiate its accusations against Inkatha and the government . The institute, for its part, argues that it is very difficult to apportion blame for incidents of township violence, noting that of 2,030 violent inci dents analysed for 1991, it was impossible to identify the agent of the atta ck in 87 per cent of cases without relying on 'untested allegation or specul ation'. 'Reports which are seen to be one-sided can easily fan the flames of violence', the report concludes. The Financial Times

London Page 3 ============= Transaction # 136 ============================================== Transaction #: 136 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-13102 _AN-CGOA1AENFT 920 715 FT 15 JUL 92 / Warning over tourist industry By MICHAEL SKAPINKER, Leisure Industries Correspondent POORLY paid and badly trained hotel employees, together with in adequate public transport, threaten the UK's position as the world's fifth m ost popular tourist destination, according to a study by the National Econom ic Development Council. The NEDC study, published yesterday, says the UK has held its own in the international tourist industry over the past 20 years. Its share of tourists was 4.2 per cent of the world total in 1990, the same as in 1970. Its share of world tourist spending has remained about 6 per cen t for 20 years, suggesting Britain has been attracting visitors who spend mo re than the average. The study says, however, that this success masks worryi ng trends. Skill levels in UK hotels are lower than in continental Europe. B ritish hotels also employ more staff than their continental counterparts but pay them less. The report says both the private and public sectors should r aise the quality of tourist facilities. The private sector should also impro ve training and productivity, which would make the tourist industry more att ractive to job entrants. The UK has attracted increasing numbers of visitors from the US and Japan, but has been less successful in northern European ma rkets. The NEDC, which is due to be abolished at the end of the year, says t hat UK tourism should not try to compete on price. 'Comparison of the UK wit h other destinations shows that overall it is not particularly expensive; Lo ndon falls into the middle range of leading European cities.' The report urg es the tourist industry to create a new representative body to stress the se ctor's importance. Tourist spending, including domestic tourism, accounts fo r nearly 4 per cent of GDP and employs 1.6m people - more than the health se rvice. Surveys carried out for the NEDC list British culture and heritage, t he arts and London as attractions mentioned most often by visitors to the UK . Only the US, Spain, France and Italy attract more tourists. UK Tourism: Co mpeting for Growth. Nedo Books, Millbank Tower, London SW1P 4QX. Pounds 11.2 0. The Financial Times London Page 10 ============= Transaction # 137 ============================================== Transaction #: 137 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 34 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: FT942-16044 _AN-EDLEUAGBFT 940 412 FT 12 APR 94 / Survey of Slovenia (8): Lunch on the family farm - The tourist industry wants Slovenia reinstated as a holiday de stination By LAURA SILBER Swimming pools, horseback riding, tennis courts - all these and more can be enjoyed a t more than 100 farms open to holiday-makers in Slovenia, writes Laura Silbe r. Take, for example, the Vhrovec family farm, tucked into a hillside in Iva ncna Gorica, in the heart of Slovenia. The farm boasts scenic walks, horse-d rawn carriage rides, or a visit to the nearby 12th century Sticna monastery. In the cosy dining room, heated by a porcelain stove, young Ms Damjana Vrho vec offers her guests home-made wine and schnapps before her mother, Majda, finishes cooking lunch. Farm tourism has been popular for years. 'We can giv e visitors whatever they want - single guests, city families who want to lea rn about life on a farm, elderly couples who have come for the scenery and e xcellent food,' says Mr Gregor Bogataj, representative for Vas, a co-operati ve tourist agency founded by farmers. Farms dot Slovenia's varied countrysid e, which sweeps down from the Julian Alps over valleys and plains to the Adr iatic coast. Gorenjska, the Alpine region, with glacial lakes and evergreen forest, offers outdoor pursuits from mountaineering to golf. Stajerska, to t he east, is renowned for wine, beer, and its rejuvenating thermal springs. P rimorska, hugging 46km of Adriatic coastline, has haunting karst limestone c aves. But in spite of the magnificent scenery, some in the tourist industry complain that the country's 100,000 beds are not fully booked except at the height of the summer season; they want to reinstate Slovenia as a travel des tination for foreign tour operators. Before the break-up of Yugoslavia, Slov enia was a stop for coach tours en route from Venice to Vienna. Hotel capaci ty was filled as groups headed for holidays in Dubrovnik or other favourite spots on Croatia's Dalmatian coast. But Slovenia disappeared from the travel brochures after the 10-day war against the Yugoslav army, followed by indep endence in June 1991. It has been difficult to erase those images of violenc e, or to convince prospective foreign tourists that the internecine fighting further south is far away enough for them to be completely safe in Slovenia . Mr Janez Repansek, an adviser to the government on tourism, says: 'Unfortu nately geography is not most people's strongest subject. Many have trouble l ocating Slovenia on the map . . . we still must convince them that Slovenia is no longer part of former Yugoslavia.' And he adds: 'Even our crime rate i s below the European average.' In spite of these difficulties, tourism in 19 93 earned Dollars 800m in hard currency - the largest single earner (taking into account private transactions). Foreigners accounted for Dollars 1.6m ou t of 5.3m nights last year, a 25 per cent increase over 1992. Mr Repansek sa ys: 'It is slowly changing for the better. Foreign guests who come here real ise there is nothing unusual - no war, no soldiers and no refugees. They fin d they are on holiday in a normal central European country,' His job is to r eassure tour operators that Slovenia is a high quality product offering good value. 'British tour operators have promised to come back. They say it is n ot a question of improving the product - they are waiting for their clients to be ready to come.' Meanwhile, plans are under consideration to establish a five-star hotel in Ljubljana, the capital, which is built on the ruins of the Roman city of Emona, where the river Ljubljanica flows past baroque spir es. Adria, the national carrier, has resumed daily flights from London. Tour ist officials also smile delightedly at Slovenia's medal-winning performance s at the winter Olympics in Lillehammer. They regard these as the best promo tion for Slovenia's winter sports, where tourists can choose between the uns poilt Alps, the birch forests of the southern Bela Krajina region and Lipica , the village where the famous Lippizaner horses were originally bred. But i f foreigners really want to enjoy Slovenia, the best holiday is on a farm. T he Vrhovec family and dozens of others will be waiting to offer warm plates of struklji (a Slovene crepe, prepared in some 70 different sweet or savoury ways), and cellars filled with bottles of home-brewed wine. Co untries:- SLZ Sierra Leone, Africa. Industries:- P7999 Amusement and Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times London Pag e 33 ============= Transaction # 138 ============================================== Transaction #: 138 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 35 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: FT924-3610 _AN-CLGBYABTFT 9212 07 FT 07 DEC 92 / Survey of Israel (8): Sun worship - To urists rediscover the Holy Land By HUGH CARNEGY ISRAEL'S tourism industry is set to break records in 1992. Mr U zi Baram, the tourism minister, reckons the number of visitors to Israel and the occupied territories will reach 1.65m by the end of the year, outstripp ing the previous best performance of 1.52m in 1987. The slump caused in 1990 and 1991 by the Gulf crisis and the subsequent war has been quickly left be hind. The depressant effect of the Palestinian intifada, or uprising, in the occupied territories which was felt in 1988 and 1989 has also largely evapo rated. Instead, officials, hoteliers and tour operators alike say the establ ishment of Middle East peace talks, giving some hope of a settlement of the Arab-Israeli conflict, has been an important factor in encouraging tourists and investors to come to the Holy Land. 'Every tourist and investor is takin g a risk when coming to Israel,' says Mr Baram. 'If the perception of the po litical situation is positive, if we are pushing the peace process ahead, in cooperation with the US and Europe, then people are more enthusiastic to co me. And we have all the attributes to attract more people.' Indeed, the stor y of Israeli tourism is one of great potential thwarted by political instabi lity. Even this year's record looks meagre when set against the extraordinar y combination of holy shrines, archaeological sites, scenery, climate and wa rm seas that Israel and the occupied lands can offer. Israel lags far behind Greece, for example, in the number of tourists it attracts each year. Mr Ba ram and his officials are aiming to raise the annual total number of visitor s to 2.5m over the next five years. They believe ultimately, the 'optimal' f igure the country could handle without excessive overcrowding is 4m-5m. 'Our priority is still quantity, not quality,' says a senior official at the min istry. The importance to the overall economy is hard to overestimate. Alread y the sector employs directly 50,000 people. The Dollars 2bn that tourism ea rns Israel annually is equivalent to about one sixth of industrial exports. This year, it will amount to about twice the current account deficit on the balance of payments. As the deficit rises while Israel steps up investment t o cope with mass immigration, the importance of tourism earnings will be gre ater than ever. The government is therefore channelling considerable investm ent into tourism, targetted mainly at three chief locations: Jerusalem, the Dead Sea and Eilat on the Red Sea. Over the next three years, it will spend some Shk250m on grants to new projects, including those by foreign companies , with up to 30 per cent available of the cost of an investment. An addition al similar sum will be spent directly on infrastructural and other facilitie s. The core of tourism to Israel and the occupied territories has been Jews and Christians from the US and western Europe. Israel is looking to the Chri stian markets in the southern states of the US and the Far East for expansio n. The experienced and remarkably resilient Palestinian operators, strong in the Christian pilgrimage business, are fighting to expand their market shar e. Both look longingly at the prospect of Moslem pilgrims who have largely b een absent since Israel won all of Jerusalem in the 1967 Six Day War. This y ear has shown how even the prospect of peace can produce a surge in numbers. The benefits of open borders that a peace settlement would yield would be g reat. By the same token, however, an enormous amount is riding on the succes s of the peace process. Any breakdown of the talks and resort to violence in the area would send the numbers tumbling downwards once more. The Financial Times London Page 13 ============= Transaction # 139 ============================================== Transaction #: 139 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 36 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: FT932-3827 _AN-DFKB5AHEFT 9306 11 FT 11 JUN 93 / Survey of South Africa (17): Dressed u p with nowhere to go - The problems facing the tourist industry By PHILIP GAWITH THE PROBLEM facing the South A frican tourism industry was aptly illustrated last month by the state presid ent, Mr FW de Klerk, when he opened the Indaba, the annual tourism marketing forum, in Durban. He started his speech by quoting a famous passage from Al an Paton's novel Cry the Beloved Country, the most well known book written a bout South Africa: 'There is a lovely road that runs from Ixopo into the hil ls. These hills are grass covered and rolling and they are lovely beyond the singing of it.' As Mr de Klerk noted, Ixopo is not far from Durban. Sadly, 'those same rolling hills, and some other parts of our country are now scene s of violence'. Having shaken off the stigma of apartheid, the tourism indus try now finds itself saddled with the stigma of violence. That is the percep tion: it matters little that most of the country is untouched by violence. A lthough figures supplied by the South African Tourism Board (Satour) show th at foreign visitors increased last year by 7.4 per cent to 560,000 (excludin g 2.1m visitors from Africa), this was a long way short of the 20 per cent g rowth hoped for. The Indaba itself provided confirmation of hard times in th e industry. The corridors of the huge exhibition hall were hardly bustling a nd many participants said business was quiet. It was very much a case of an industry all dressed up with nowhere to go. To be fair, economic recession i s also an important factor. Indeed, some in the trade argue that it is a mor e important determinant of business activity than violence. One such person was Mr Nick Seewer, general manager of the prestigious Mount Nelson hotel in Cape Town. He said the hotel was doing very well, had had its best April in years, and summer bookings were good. He made the point that seasoned trave llers, of the sort that frequent his sort of establishment, know South Afric a and are not easily put off. Lower down the market, however, the pinch is b eing felt. Mr Helder Pereira, operations director of Southern Suns, the coun try's largest hotel group, confirms a 25 per cent increase in cancellations after the assassination in April of Chris Hani, the black political leader. Whether stability will bring the riches the industry feels it deserves - 'ou r fair share of the market' - is another matter. Tourism only accounts for a bout 2 per cent of South Africa's GDP compared to an international average o f 6 per cent. Clearly there is enormous potential for growth given that the quality of the product is not in dispute, and Satour has set targets of 966, 000 annual foreign visitors by 1995 and 1.75m by 2000. Stability alone, howe ver, will not see these targets realised. Recent surveys show declining cons umer satisfaction in areas such as 'value for money' and service. These shor tcomings need to be rectified if South Africa is to establish itself as a co mpetitive, user-friendly destination. On the other hand, tourism can only be nefit from the increased priority it now enjoys with government. A new minis try, solely responsible for tourism, has been established; a White Paper, ou tlining the development of the industry has been published and deregulation continues (evident in the dramatic increase in the number of international c arriers flying to the country, from 19 in 1990 to 36 in 1993). All these ste ps augur well for the future. Countries:- ZAZ South Africa, Africa. Industries:- P7011 Hotels and Motels. P7999 Amusement and Recreation, NEC. P9611 Administration of General Economic Programs. Types:- CMMT Comment & Analysis. The Financial Times London Page VIII ============= Transaction # 140 ============================================== Transaction #: 140 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 141 ============================================== Transaction #: 141 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 37 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: FT944-14159 _AN-EJYD1ABAFT 941 025 FT 25 OCT 94 / Sri Lanka counts cost of bombing By STEFAN WAGSTYL and REUTER NEW DELHI, COLOMBO The assassination on Sunday of Mr Gamini Dissanayake, the Sri Lankan opposition leader, is a grim reminder of the vio lence which permeates the island's politics. Mr Dissanayake's death comes le ss than 18 months after assassins claimed the lives of two other prominent p oliticians - Mr Lalith Athulathmudali, a close colleague of Mr Dissanayake, and President Ranasinghe Premadasa, who like Mr Dissanayake was blown up in the middle of a crowd by a suicide bomber. In each case the security forces suspect the hand of the LTTE, the Tamil Tiger separatist militants fighting for an independent homeland for ethnic Tamils in the north. But the LTTE yes terday denied it was involved, and police have not in the past found enough evidence to prove their suspicions. Police in the capital Colombo said yeste rday a Tamil woman suicide bomber whose severed head was found on top of a t wo-storey building was responsible for the blast, which killed 52 people. Th e tradition of violence predates the LTTE, going back at least as far as the assassination of the late prime minister, Mr Solomon Bandaranaike, who was killed in 1959 by a disgruntled Buddhist monk. Mr Dissanayake's bloody death at the age of 52 brings shock, confusion and uncertainty to Sri Lankan poli tics. Its impact also seems likely to spread to the economy, particularly th e tourist industry. The immediate effect is to rob the opposition United Nat ional party of its presidential candidate for the election which is due to b e held next month in which Mr Dissanayake was running against Mrs Chandrika Kumaratunge, the prime minister. The government, while postponing indefinite ly peace talks set for yesterday with the Tamil rebels, said the November 9 presidential poll would go ahead despite the attack. Mr Dissanayake was an u rbane, western-educated lawyer on the UNP's conservative wing. He had little chance of winning against Mrs Kumaratunge, who won a general election only in August when she took power from a UNP jaded after 17 years' rule. But Mr Dissanayake had gone some way to rebuilding party morale. His place could no w be taken by Mr Ranil Wickremasinghe, who was prime minister until August, or possibly by the incumbent president and UNP elder statesman, Mr D B Wijet unga. Either man might hope to capitalise on a possible wave of sympathy amo ng the majority Sinhalese for Mr Dissanayake or for the tough pro-military p olicy he supported on the Tigers - a policy which may have cost him his life . Equally important, Mr Dissanayake's death has called into question Mrs Kum aratunge's whole approach to the Tamil question. She was elected on a promis e to try to make peace with the LTTE, a promise which she has bravely and ra pidly attempted to put into effect by moves including lifting an economic em bargo on the Tigers' northern stronghold in the Jaffna peninsula. Government officials this month started talks with LTTE representatives. Despite conti nuing LTTE attacks on Sri Lankan targets, including ships, Mrs Kumaratunge p ersisted with the peace effort. Against the advice of army officers, she tru sted ambiguous peace messages put out by Mr V Prabakaran, the LTTE leader. N ow her strategy has been thrown into jeopardy. The Colombo stock market was closed yesterday amid an island-wide curfew imposed after the attack. Mr Jay adeva Uyangoda, an economist attached to Colombo University, said the econom y would suffer in the short term due to the attack. 'Long term stability wil l depend on any social unrest and the overall political situation,' he added . 'In the past, such dramatic assassinations have not impacted on society, w hich has come to terms with the deaths of major political figures. Foreign i nvestors will react only if there is social unrest. Otherwise they will wait and see what happens before taking the next step.' Sri Lanka has shown amaz ing resilience to political deaths. Even last year's two assassinations did not throw the country's democratic institutions into disarray: there was lit tle street violence and this year's general election was peaceful and judged to be fair. The economy has continued to grow, with gross domestic product up 5.7 per cent last year; the tourists have kept coming. Yet it is hard to believe that Sri Lanka can forever enjoy its economic success and holiday pa radise reputation while the streets of Colombo are regularly soaked in blood . Countries:- LKZ Sri Lanka, Asia. Indust ries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times Londo n Page 6 ============= Transaction # 142 ============================================== Transaction #: 142 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 38 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: FT942-2908 _AN-EFQDGAB2FT 9406 17 FT 17 JUN 94 / No peace yet in troubled Kashmir: Kidn appings highlight unrest in spite of fragile gains B y STEFAN WAGSTYL The kidnapping of two British tourists by separatist militants in the northern Indian state of Jammu and Kashmir highl ights how far this troubled region still is from peace. Over the last 12 mon ths, the Indian authorities have tried to create the impression that the vio lence which has hit Kashmir in the past four years is being brought under co ntrol. They were so successful that tourists started coming back this year: owners of hotels, houseboats and handicraft shops thought their trade could at last see a revival. The kidnapping has put in jeopardy this fragile gain in confidence. It is now 11 days since Mr David Mackie, aged 36, and 16-year -old Kim Housego, son of Mr David Housego, a former Financial Times staff co rrespondent, were captured while on trekking holidays with their families. T he incident has exposed the fact that despite considerable advances in suppr essing militants in the capital city of Srinagar and the surrounding valley, the Indian security forces are far from crushing the separatist fighters. E ven the government's own figures show violence remains widespread. In the fi ve months to the end of May, the death toll was broadly the same as for the same months last year - 501 militants, 85 members of the security forces, an d 420 civilians (killed in militant attacks or in crossfire.) A further 139 people were kidnapped. Altogether nearly 10,000 have died since the fighting broke out in 1990, according to official statistics. The militants put the total at more than 20,000. This is not to say the authorities have made no p rogress in the past year. The security forces have killed or captured severa l top militant leaders and disrupted lines linking militants with their sour ces of supply in neighbouring Pakistan. Delhi scored a considerable coup las t November by bringing to a peaceful end a month-long siege of the Hazratbal mosque, the holiest Moslem shrine in Kashmir. 'In Srinagar at least the imp rovement is palpable,' says a senior official of the Jammu and Kashmir state government. But even in Srinagar, life is far from normal. The paramilitary Border Security Force patrols the streets and maintains sand-bagged bunkers . 'If Srinagar seems quiet it is because we have adjusted to life under occu pation, not that we have accepted it,' says Mr Abdul Ghani, a representative of the All Party Freedom Conference, an umbrella organisation of Kashmiri p olitical groups, some of which demand independence and others union with Pak istan. Moreover, while violence has declined in the Moslem heartland of Srin agar and the surrounding valley it has increased elsewhere - notably in the southern districts with mixed Moslem/Hindu populations, including the hilly Doda area, where militants recently assassinated two local leaders of the ri ght-wing Hindu Bharatiya Janata party. There is also a shift in the balance of power among the militants, with groups linked to the Jammu and Kashmir Li beration Front, the pro-independence political organisation, losing ground t o radical pro-Pakistan Islamic groups. They see the battle against India as a jihad - a holy war. Supplied with arms from within Pakistan and strengthen ed by the presence of small numbers of Afghan and other battle-hardened Mosl em fighters, these groups have challenged the traditional dominance of the J KLF. Among these radicals organisations is Harkat-ul-Ansar, which captured t he two Britons. The JKLF seems unsure how to react. Some leaders want no com promises, others appear to be putting out feelers to the Indian government, among them Mr Yasin Malik, who was released from prison a month ago and prom ptly appealed publicly for talks. It is hard to see how the government can r espond if the JKLF sticks to demands for independence. But if it does nothin g, it could miss a valuable opportunity to create a point of contact with th e militant movement. There may not be much time - pro-Pakistan militants tri ed to shoot Mr Malik earlier this month and could try again. Delhi is aware that the longer the fighting goes on, the more the pro-Pakistan Islamic grou ps are likely to gain ground, notably Hizb-ul-Mujahideen, the biggest and mo st active organisation. Mr Rajesh Pilot, the minister responsible for Kashmi r, has said repeatedly that he wants to start a 'political process', meaning talks with Kashmiri groups, followed by state-level elections and possibly an increase in autonomy from Delhi. 'I feel there is more chance of the poli tical process starting now than at any time in the past two years,' he says. But for most Kashmiri activists, hints of increased autonomy are worthless. Mr Ghani says: 'If we don't leave India, all this violence will have been f or nothing.' Yesterday Mr Housego returned to Pahalgam, the area of the kidn apping, with a group of journalists, in a move to encourage the kidnappers, who are apparently nervous about the presence of Indian security forces, to release their captives. If he succeeds it will at least remove one point of tension in the troubled state. Countries:- INZ India , Asia. Industries:- P9229 Public Order and Safety, NEC . P9721 International Affairs. Types:- CMMT Commen t & Analysis. The Financial Times London Page 7

============= Transaction # 143 ============================================== Transaction #: 143 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 38 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: FT942-2908 _AN-EFQDGAB2FT 9406 17 FT 17 JUN 94 / No peace yet in troubled Kashmir: Kidn appings highlight unrest in spite of fragile gains B y STEFAN WAGSTYL The kidnapping of two British tourists by separatist militants in the northern Indian state of Jammu and Kashmir highl ights how far this troubled region still is from peace. Over the last 12 mon ths, the Indian authorities have tried to create the impression that the vio lence which has hit Kashmir in the past four years is being brought under co ntrol. They were so successful that tourists started coming back this year: owners of hotels, houseboats and handicraft shops thought their trade could at last see a revival. The kidnapping has put in jeopardy this fragile gain in confidence. It is now 11 days since Mr David Mackie, aged 36, and 16-year -old Kim Housego, son of Mr David Housego, a former Financial Times staff co rrespondent, were captured while on trekking holidays with their families. T he incident has exposed the fact that despite considerable advances in suppr essing militants in the capital city of Srinagar and the surrounding valley, the Indian security forces are far from crushing the separatist fighters. E ven the government's own figures show violence remains widespread. In the fi ve months to the end of May, the death toll was broadly the same as for the same months last year - 501 militants, 85 members of the security forces, an d 420 civilians (killed in militant attacks or in crossfire.) A further 139 people were kidnapped. Altogether nearly 10,000 have died since the fighting broke out in 1990, according to official statistics. The militants put the total at more than 20,000. This is not to say the authorities have made no p rogress in the past year. The security forces have killed or captured severa l top militant leaders and disrupted lines linking militants with their sour ces of supply in neighbouring Pakistan. Delhi scored a considerable coup las t November by bringing to a peaceful end a month-long siege of the Hazratbal mosque, the holiest Moslem shrine in Kashmir. 'In Srinagar at least the imp rovement is palpable,' says a senior official of the Jammu and Kashmir state government. But even in Srinagar, life is far from normal. The paramilitary Border Security Force patrols the streets and maintains sand-bagged bunkers . 'If Srinagar seems quiet it is because we have adjusted to life under occu pation, not that we have accepted it,' says Mr Abdul Ghani, a representative of the All Party Freedom Conference, an umbrella organisation of Kashmiri p olitical groups, some of which demand independence and others union with Pak istan. Moreover, while violence has declined in the Moslem heartland of Srin agar and the surrounding valley it has increased elsewhere - notably in the southern districts with mixed Moslem/Hindu populations, including the hilly Doda area, where militants recently assassinated two local leaders of the ri ght-wing Hindu Bharatiya Janata party. There is also a shift in the balance of power among the militants, with groups linked to the Jammu and Kashmir Li beration Front, the pro-independence political organisation, losing ground t o radical pro-Pakistan Islamic groups. They see the battle against India as a jihad - a holy war. Supplied with arms from within Pakistan and strengthen ed by the presence of small numbers of Afghan and other battle-hardened Mosl em fighters, these groups have challenged the traditional dominance of the J KLF. Among these radicals organisations is Harkat-ul-Ansar, which captured t he two Britons. The JKLF seems unsure how to react. Some leaders want no com promises, others appear to be putting out feelers to the Indian government, among them Mr Yasin Malik, who was released from prison a month ago and prom ptly appealed publicly for talks. It is hard to see how the government can r espond if the JKLF sticks to demands for independence. But if it does nothin g, it could miss a valuable opportunity to create a point of contact with th e militant movement. There may not be much time - pro-Pakistan militants tri ed to shoot Mr Malik earlier this month and could try again. Delhi is aware that the longer the fighting goes on, the more the pro-Pakistan Islamic grou ps are likely to gain ground, notably Hizb-ul-Mujahideen, the biggest and mo st active organisation. Mr Rajesh Pilot, the minister responsible for Kashmi r, has said repeatedly that he wants to start a 'political process', meaning talks with Kashmiri groups, followed by state-level elections and possibly an increase in autonomy from Delhi. 'I feel there is more chance of the poli tical process starting now than at any time in the past two years,' he says. But for most Kashmiri activists, hints of increased autonomy are worthless. Mr Ghani says: 'If we don't leave India, all this violence will have been f or nothing.' Yesterday Mr Housego returned to Pahalgam, the area of the kidn apping, with a group of journalists, in a move to encourage the kidnappers, who are apparently nervous about the presence of Indian security forces, to release their captives. If he succeeds it will at least remove one point of tension in the troubled state. Countries:- INZ India , Asia. Industries:- P9229 Public Order and Safety, NEC . P9721 International Affairs. Types:- CMMT Commen t & Analysis. The Financial Times London Page 7

============= Transaction # 144 ============================================== Transaction #: 144 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 38 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: FT942-2908 _AN-EFQDGAB2FT 9406 17 FT 17 JUN 94 / No peace yet in troubled Kashmir: Kidn appings highlight unrest in spite of fragile gains B y STEFAN WAGSTYL The kidnapping of two British tourists by separatist militants in the northern Indian state of Jammu and Kashmir highl ights how far this troubled region still is from peace. Over the last 12 mon ths, the Indian authorities have tried to create the impression that the vio lence which has hit Kashmir in the past four years is being brought under co ntrol. They were so successful that tourists started coming back this year: owners of hotels, houseboats and handicraft shops thought their trade could at last see a revival. The kidnapping has put in jeopardy this fragile gain in confidence. It is now 11 days since Mr David Mackie, aged 36, and 16-year -old Kim Housego, son of Mr David Housego, a former Financial Times staff co rrespondent, were captured while on trekking holidays with their families. T he incident has exposed the fact that despite considerable advances in suppr essing militants in the capital city of Srinagar and the surrounding valley, the Indian security forces are far from crushing the separatist fighters. E ven the government's own figures show violence remains widespread. In the fi ve months to the end of May, the death toll was broadly the same as for the same months last year - 501 militants, 85 members of the security forces, an d 420 civilians (killed in militant attacks or in crossfire.) A further 139 people were kidnapped. Altogether nearly 10,000 have died since the fighting broke out in 1990, according to official statistics. The militants put the total at more than 20,000. This is not to say the authorities have made no p rogress in the past year. The security forces have killed or captured severa l top militant leaders and disrupted lines linking militants with their sour ces of supply in neighbouring Pakistan. Delhi scored a considerable coup las t November by bringing to a peaceful end a month-long siege of the Hazratbal mosque, the holiest Moslem shrine in Kashmir. 'In Srinagar at least the imp rovement is palpable,' says a senior official of the Jammu and Kashmir state government. But even in Srinagar, life is far from normal. The paramilitary Border Security Force patrols the streets and maintains sand-bagged bunkers . 'If Srinagar seems quiet it is because we have adjusted to life under occu pation, not that we have accepted it,' says Mr Abdul Ghani, a representative of the All Party Freedom Conference, an umbrella organisation of Kashmiri p olitical groups, some of which demand independence and others union with Pak istan. Moreover, while violence has declined in the Moslem heartland of Srin agar and the surrounding valley it has increased elsewhere - notably in the southern districts with mixed Moslem/Hindu populations, including the hilly Doda area, where militants recently assassinated two local leaders of the ri ght-wing Hindu Bharatiya Janata party. There is also a shift in the balance of power among the militants, with groups linked to the Jammu and Kashmir Li beration Front, the pro-independence political organisation, losing ground t o radical pro-Pakistan Islamic groups. They see the battle against India as a jihad - a holy war. Supplied with arms from within Pakistan and strengthen ed by the presence of small numbers of Afghan and other battle-hardened Mosl em fighters, these groups have challenged the traditional dominance of the J KLF. Among these radicals organisations is Harkat-ul-Ansar, which captured t he two Britons. The JKLF seems unsure how to react. Some leaders want no com promises, others appear to be putting out feelers to the Indian government, among them Mr Yasin Malik, who was released from prison a month ago and prom ptly appealed publicly for talks. It is hard to see how the government can r espond if the JKLF sticks to demands for independence. But if it does nothin g, it could miss a valuable opportunity to create a point of contact with th e militant movement. There may not be much time - pro-Pakistan militants tri ed to shoot Mr Malik earlier this month and could try again. Delhi is aware that the longer the fighting goes on, the more the pro-Pakistan Islamic grou ps are likely to gain ground, notably Hizb-ul-Mujahideen, the biggest and mo st active organisation. Mr Rajesh Pilot, the minister responsible for Kashmi r, has said repeatedly that he wants to start a 'political process', meaning talks with Kashmiri groups, followed by state-level elections and possibly an increase in autonomy from Delhi. 'I feel there is more chance of the poli tical process starting now than at any time in the past two years,' he says. But for most Kashmiri activists, hints of increased autonomy are worthless. Mr Ghani says: 'If we don't leave India, all this violence will have been f or nothing.' Yesterday Mr Housego returned to Pahalgam, the area of the kidn apping, with a group of journalists, in a move to encourage the kidnappers, who are apparently nervous about the presence of Indian security forces, to release their captives. If he succeeds it will at least remove one point of tension in the troubled state. Countries:- INZ India , Asia. Industries:- P9229 Public Order and Safety, NEC . P9721 International Affairs. Types:- CMMT Commen t & Analysis. The Financial Times London Page 7

============= Transaction # 145 ============================================== Transaction #: 145 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 39 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: FT931-332 _AN-DC3CGAG0FT 93033 0 FT 30 MAR 93 / Survey of the Republic of Slovenia (11) : Bohinj is still far from the battle - Prospects for the tourist in what re mains an area of unspoilt beauty By LAURA SILBER SNOW-SPECKLED slopes slide into the shores of a crystal lake. Wooden chalets dot mountain pastures. Giant evergreens and silvery birches l ine mountain paths. Is this Switzerland? No, it's Lake Bohinj in Slovenia. N estled in the Julian Alps under Triglav, Slovenia's highest peak, Bohinj, li ke nearby Bled and Kranjska Gora, boasts unspoilt beauty and year-round outd oor activities, from hiking to sailing. It is easily accessible by car, aero plane or rail and foreigners should be flocking to enjoy the Slovene Alps at prices some 30 per cent below those in neighbouring Austria. But just about everyone in the tourist industry complains that the nearly 90,000 beds are not filled to capacity except at the height of the summer season. Getting to urists to come back to Slovenia is a high priority. The country would appear to be a natural winner because from the Alps to the tiny stretch of Adriati c coast, Slovenia offers good value for holiday makers. Tourism was the sing le biggest earner in 1992, officially amounting to Dollars 670m, but in fact well over Dollars 1bn when private transactions are taken into account. But Mr Joze Mencinger, an economist at the Ljubljana law faculty, believes that tourism will probably never account for more than 10 per cent of Slovenia's hard currency earnings. 'The mountains are too low - but at the same time t hey are too steep for real skiing. The 46-kilometre coastline is too short a nd Koper, Slovenia's only port, takes up 10 kilometres and needs to be devel oped further,' he says. Before the break-up of Yugoslavia, Slovenia was awas h with tourists. In 1990, some 55 per cent came from abroad and the remainde r from other parts of the country. Slovenia was often included in foreign pa ckage tours. British tour operators, for example, used to book up hotels at Lake Bled for holiday makers en route to Croatia's Adriatic coast. Coach ope rators stopped in Slovenia as part of tours from northern Italy through to A ustria. Everyone in the tourist industry complains that Slovenia is nearly u nknown. If it is known, foreigners shy away, associating it with the bloodsh ed in former Yugoslavia. Mr Miro Mulej, head of the Lake Bled tourist associ ation, describes the surprise of foreign visitors when they visit Bled, a mi ni-Lake Cuomo. 'They envision tanks rolling down the streets. They don't und erstand we have a proper border with Croatia. Slovenia has had no violence s ince the 10-day war in June 1991. 'When foreigners arrive, they see we have everything. From natural beauty to exclusive shops,' Mr Mulej says of Lake B led, which offers a wide range of activities from casinos to golf. 'But buil ding a new image for Slovenian tourism is an expensive business,' he adds. T he high quality of the tourist information material put out by the industry and its operators reflects the effort to attract foreign holiday-makers. But Slovene tour operators are aware that their sophisticated, well-designed br ochures will yield little until foreign partners realise that Slovenia is no longer part of Yugoslavia and that it is far away from the war. Slovenia is listed in the Thomson tour catalogue, but so far there have been few advanc e bookings. In 1988, Slovenia was a favourite charter spot for some 700,000 British tourists. 'We must forge a completely new identity: Slovenia as an a lpine country. It is the opposite of the image of Yugoslavia with an Adriati c coast and islands,' says Mr Mulej looking out at Lake Bled, which boasts S lovenia's only island, dominated by a beautiful Baroque-steepled church. Tou rist officials have taken steps to forge a new image for Slovenia. Mr Bogo U mek, under-secretary for tourism, says: 'About 52 per cent of Slovenia is co vered with forests. We have the alps and spas, the Adriatic sea coast is dec oration.' Mr Umek believes Slovenia's membership of the pentagonal Alpine Co mmission was an important step for tourism. Lake Bled last year was featured on the cover of the Commission's brochure. Slovenia is eager to emphasise i ndividual tourism rather than the mass tours of the past. Mr Janko Humar, ma rketing director of Alpinum, which owns and operates six hotels around Lake Bohinj, says: 'Bohinj has some 1,000 beds. We do not want mass tourism, but individual visitors who want to enjoy the spectacular surroundings.' Over th e past five years, Alpinum has upgraded its hotels, emphasising the quality of service, which was so often lacking for foreign visitors to the former Yu goslavia. 'We teach the staff that service is a profession to take pride in, ' he adds. The staff at the charming Hotel Jezero, set on the shores of Lake Bohinj, is courteous and hospitable. Rock-climbing and white- water rafting may interest some holidaymakers at Bohinj. The less adventurous can walk on the well-marked paths in Triglav national park or enjoy the annual festival - the dance of the cows - which marks the time when peasants take their sto ck up to the mountain pastures for the summer. Kozolci, Slovenia's wooden ha yracks - a tradition dating back to the 17th century - distinguish Lake Bohi nj from Switzerland. But here, when holiday makers tire of swimming, skiing, or trout-fishing, they can hop in the car and after just an hour's drive, a rrive at the short but lovely Adriatic coastline. Countries:- < /XX> SIZ Slovenia, East Europe. Industries:- P7999 Amusement and Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times London Page 38 ============= Transaction # 146 ============================================== Transaction #: 146 Transaction Code: 33 (Client Auto-Restart) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Long Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 147 ============================================== Transaction #: 147 Transaction Code: 0 (New Host Selected) Terminal ID: 12781888 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: Mon Aug 23 12:26:30 1999 Rec. Format: Short Time Cmd Complete: Mon Aug 23 12:26:30 1999 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 # 148 ============================================== Transaction #: 148 Transaction Code: 35 (New Host Connected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 149 ============================================== Transaction #: 149 Transaction Code: 6 (Direct Rank Search) Terminal ID: 12781888 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: Mon Aug 23 12:26:51 1999 Rec. Format: Short Time Cmd Complete: Mon Aug 23 12:26:51 1999 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 @ {tourist violence})" ============= Transaction # 150 ============================================== Transaction #: 150 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 151 ============================================== Transaction #: 151 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 152 ============================================== Transaction #: 152 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 153 ============================================== Transaction #: 153 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 154 ============================================== Transaction #: 154 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 48 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: FT931-6689 _AN-DB1AEAEWFT 9302 27 FT 27 FEB 93 / Travel: Driven to distraction - Snapsh ot / Rio de Janeiro By KEITH WHEATLEY MUCH in Rio de Janeiro is hard to believe, especially to the first-time v isitor. A fairytale destination? Not exactly. Who could believe it possible to find a cab driver in Rio unable to find Corcovada? The massive statue of Christ the Redeemer is perched 2,500ft above the city, visible from every st reet and square. Better-known, even, than Sugar Loaf mountain. Squeezed in t he back of a sweaty VW Beetle we fumed and eventually had to laugh as our dr iver, new to Rio, asked directions of incredulous street-smart children at e very junction. Of course, the meter was running and we were paying. However, any connection between the meter and what one pays for a cab in Rio is abou t as notional as the exchange rate for the Brazilian cruzeira. Any taxi jour ney has to start with a session worthy of the EC finance ministers. One can sympathise. In a country with annualised inflation running at close to 1,000 per cent, a rate-per-mile agreed at breakfast-time is likely to look meagre by sunset. For the first-time tourist in Rio - a dwindling species - things can be bewildering. Items are either very cheap or hugely expensive - and q uite randomly. Clean, well-appointed hotel rooms overlooking Copacabana Beac h for around USDollars 40 a night? No problem. Admittedly, the hotels are 20 - to 25-years-old and in need of refurbishment. But there has been virtually no new building on the famous beach since US tourists - fragile creatures - decided Rio was the wrong side of the tracks. Yet the views and the local c olour make the the beach-front hotels a bargain. Just avoid the telephone. M ost visitors learn only as they are checking out of their hotels that Brazil is attempting to pay off its national debt via the tariff for international calls. An item of USDollars 76 for an eight-minute call to Britain certainl y lodged in the throat. Grazing in street cafes is the most economical and e njoyable way to eat during the day. A thimbleful of strong black coffee and a voluptuous pastry layered with cheese and ham will cost the local equivale nt of 75p. While the area two or three blocks back from Copacabana is lively and fascinating, it is also dangerous. Most Brazilian muggers seem keener o n goods than violence but they are also thick on the ground. Hardly a day go es by without another unfortunate trailing into the hotel lobby minus handba g or wallet. One experienced Rio hand told me never to voyage abroad with mo re than a single credit card, handful of cruzeiras for walking-about money a nd Dollars 20 for emergencies. It came to seem like good advice. Countries:- BRZ Brazil, South America. Industries:- P4111 Local and Suburban Transit. P5812 Eating Places. P70 11 Hotels and Motels. Types:- CMMT Comment & Analysis. The Financial Times London Page XIV ============= Transaction # 155 ============================================== Transaction #: 155 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 156 ============================================== Transaction #: 156 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 49 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: FT922-129 _AN-CF3ATACUFT 92063 0 FT 30 JUN 92 / International Company News: State order s inquiry into Thai Airways By VICTOR MALLET BANGKOK THAILAND'S caretaker government has ordered an investigation into seven allegations of corruption at Thai Ai rways International (Thai), the national airline whose shares are due to sta rt trading on the country's stock exchange next month. One of the deals unde r investigation is Thai's order of Rolls-Royce engines for a fleet of new Bo eing 777s, a choice which government officials said could increase maintenan ce costs because the airline normally uses General Electric or Pratt and Whi tney engines. Thai, which is run as a fiefdom of the air force, has often be en accused privately of making questionable deals and of buying too varied a range of equipment, but the state's sale of 7 per cent of the airline to th e public earlier this year has led to renewed calls for the company to be ma naged more professionally. Furthermore, the interim government installed thi s month has publicly committed itself to reducing the influence of the armed forces in business and politics. Air Chief Marshal Kaset Rojananil, Thai's chairman, is head of the air force and military supreme commander, and has b een blamed by pro-democracy demonstrators for the violence in May in which t roops shot dead at least 50 protestors. Some employees of Thai have called f or his resignation. The other deals under investigation on the orders of Mr Nukul Prachuabmoh, the transport and communications minister, are: the sale of six Shorts aircraft to Bangkok Airways, an airline with links to the mili tary, for less than the price offered by a rival bidder; waiving Thai's righ ts to fly to Cambodia in favour of Bangkok Airways; the lease of a luxury ex ecutive Challenger jet; plans to buy a plot of land from the wife of a senio r air force officer for what is seen as an unusually high price; overpaying for another plot of land; and buying expensive limousines for executives two days before the announcement of a cost-cutting programme. Thai yesterday de clined to comment on the allegations, the latest in a series of blows for th e company. Net profit in the busy first half ended March 31 was only Bt1.2bn (Dollars 47.2m), compared with a forecast in the prospectus for the full ye ar of Bt5.3bn. The second half began dismally with the political violence in May, which caused a sharp fall in tourist arrivals and in Thai's passenger loads on international flights. The privatisation in March was clouded by su ggestions that some of the 100m shares offered were withheld and sold at a p remium over the Bt60 offer price by senior Thai executives or their associat es. On the grey market, Thai shares rose to about Bt90, but have now fallen back to be bid at about Bt65, reflecting investors' doubts about Thai's mana gement and profitability. The shares are due to start trading on July 20 alt hough some brokers fear further delay. The Financial Times London Page 25 ============= Transaction # 157 ============================================== Transaction #: 157 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 50 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: FT932-14950 _AN-DDPB8AA8FT 930 416 FT 16 APR 93 / S Africa counts the cost of mass acti on By PATTI WALDMEIR JOHANNE SBURG SOUTH AFRICA was yesterday counting the political a nd economic cost of Wednesday's national protest strike which left 17 people dead. Yesterday an angry mob attacked two whites in the black homeland of T ranskei less than 48 hours after the slaying of two white South African tour ists, police said. The death toll from Wednesday's protest rose to 17 after 11 people were massacred in Natal province following a commemoration rally f or slain African National Congress leader Chris Hani. However, it was not cl ear how closely the deaths were related to the ANC protest, given that such massacres have become a regular occurrence in Natal. There were further viol ent incidents in Port Elizabeth, Cape Town and on the East Rand near Johanne sburg. The black township of Soweto was reported quiet. Further mass protest s are planned for tomorrow, Sunday and Monday, raising the risk of further v iolence. The ANC has called another national protest strike for Monday, the day Mr Hani will be buried. Yesterday it appeared the political impact of th e Hani assassination might prove positive, as the South African government a nnounced it would drop crucial preconditions to the establishment of the fir st phase of a multi-racial interim government, the Transitional Executive Co uncil. The council would include representatives of all the main parties, an d would have sub-councils to advise and monitor government actions in areas such as law and order, defence, finance and foreign affairs. Mr Roelf Meyer, the ANC's chief negotiator, said the government would no longer insist that the 26 parties to the multi-party negotiating forum agree a transitional co nstitution before this council could be formed. This removes a big obstacle to formation of the Council, which Mr Meyer said could be agreed by May. How ever, he cautioned that some parties, such as the Inkatha Freedom Party, mig ht object, causing further delays. Inkatha believes there should be no exten ded transition to full democracy. Meanwhile, the US state department advised Americans to stay away from black homelands and townships in South Africa. Transkei leader Major-General Bantu Holomisa said armed police were being se nt to protect tourists in the homeland's popular coastal resorts, but South Africans were advised to avoid Transkei. Ms Michelle Cohen, executive direct or of the US chamber of commerce, said she knew of businessmen, representing US companies which stuck with South Africa through sanctions, curtailing vi sits to the country because of the turmoil. She expected a hefty rise in the cost of insurance on trade with South Africa. 'We'll be on the same list as Vietnam. . . Sarajevo.' Countries:- ZAZ South Afric a, Africa. Industries:- P9721 International Affairs. Types:- NEWS General News. The Financial Time s London Page 6 ============= Transaction # 158 ============================================== Transaction #: 158 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 51 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: FT933-7664 _AN-DHTCQABVFT 9308 20 FT 20 AUG 93 / Tourism spending up 7% to Pounds 25bn By GARY MEAD, Marketing Correspondent BRITONS SPENT more than Pounds 25bn on tourism to all destinations last y ear in spite of the recession, an increase of 7 per cent in real terms from 1991, the UK tourist boards said yesterday. Travel to destinations outside t he UK fuelled the growth, however, with holiday areas in Britain seeing thei r market share decline, according to the English, Northern Ireland, Scottish and Welsh tourist boards. Spending on tourism outside the UK by British tra vellers rose in real terms from Pounds 12.62bn in 1991 to Pounds 14.41bn las t year, while British tourists travelling in the UK spent Pounds 10.66bn, co mpared with Pounds 10.85bn in 1991. Each of the four tourist boards register ed declines in real spending in their region. Last year 80 per cent of trips were to destinations in the UK, but those outside the UK lasted twice as lo ng and cost five times more. The report reveals a variety of distinctions be tween the four main regional tourism markets of the UK. Of English tourists, 90 per cent visit English destinations, while 50 per cent of Scottish touri sts choose to holiday in Scotland. Just 22 per cent of Welsh tourists holida y in Wales, while 66 per cent of Ulster travellers holiday in Northern Irela nd. England remains the most popular destination in Britain, accounting for 47m, or 59 per cent, of all UK residents' holidays. The most popular type of holiday destination in England remained the seaside resort. Other points of the study include: Hill-walking, hiking and rambling ties with swimming as the most popular activity pursued on holiday, closely followed by visiting c ultural and historic sites. Travelling by car to holiday destinations was th e preferred means of transport for 78 per cent of travellers. Hotels, motels and guest-houses accounted for 21 per cent of holiday accommodation on all trips, with many more people - 37 per cent - staying with friends and famili es. August was the most popular month for holidays - 19 per cent of all trip s start then. UK Tourist: Statistics 1992. English Tourist Board, Department D, Thames Tower, Black's Road, London W6. Pounds 55. Countries :- GBZ United Kingdom, EC. Industries:- P472 4 Travel Agencies. P4725 Tour Operators. P7999 Amusement and Recreat ion, NEC. Types:- NEWS General News. The Fi nancial Times London Page 6 ============= Transaction # 159 ============================================== Transaction #: 159 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 52 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: FT922-7109 _AN-CETCHAD3FT 9205 20 FT 20 MAY 92 / Thai army crackdown fails to stop unre st spreading By VICTOR MALLET and PETER UNGPHAKORN < /BYLINE> BANGKOK A MILITARY crackdown on pr o-democracy activists in Bangkok failed to clear protesters off the streets yesterday as demonstrations continued for a third day and unrest spread to o ther parts of the country. The beleaguered government of General Suchinda Kr aprayoon, the prime minister, has withheld details of casualties in the bloo diest clashes seen in the Thai capital since 1976, but information from hosp ital doctors suggested that at least 50 people had been killed since Sunday night. The US stepped up its pressure on Bangkok to resolve the crisis peace fully - suspending its role in a joint military exercise. It said a normal r elationship with the Thai government under current conditions was impossible . Last night several thousand demonstrators barricaded a highway outside Ram khamhaeng university in eastern Bangkok. Although gatherings of 10 or more p eople are banned under the state of emergency, security forces kept a low pr ofile and allowed a protest rally at the university to pass off peacefully. Thousands of protesters were also reported to have held a rally in Songkhla, a university town in the south of Thailand. Smaller demonstrations have tak en place in other towns, including the resort island of Phuket. The privy co uncil met yesterday in emergency session and a group of influential academic s submitted an appeal to King Bhumibol Adulyadej to break the deadlock. Thai s are beginning to hope the king will intervene to resolve the matter as he did at the time of anti-government student demonstrations in 1973. The acade mics also suggested that General Prem Tinsulanonda, prime minister from 1980 to 1988, should return to the post, and that constitutional amendments to r educe the power of the military should be passed within three weeks, but tha t parliament should not be dissolved. Many shops, offices and banks reopened in the capital but hurriedly closed again at midday as rumours of looting a nd violence swept through the city. One hotel boarded up its windows. 'There 's quite a lot of panic in commercial circles,' said one foreign banker. 'Th ere's going to be very little commerce tomorrow.' Some bank branches ran out of cash and queues grew at automatic tellers and petrol stations. By evenin g, normally a time of acute traffic congestion, Bangkok's streets were almos t deserted. Soldiers, harried by groups of youths in the city centre, set up roadblocks and searched motorcyclists, who have been at the forefront of so me rioting. On the stock market the SET index fell by nearly 9 per cent to c lose at 667.84, down 65.05, its largest single daily fall. Some tourist flig hts into Bangkok were cancelled as foreign governments advised their nationa ls to stay away. Although Gen Suchinda and the military have regained a meas ure of control over the capital, many Thais question whether he can continue to govern the country. The heavy-handed suppression of the demonstrations a nd the abrasive statements issued by the prime minister and his commanders h as further alienated the inhabitants of Bangkok. A parliamentary debate on c onstitutional amendments originally seen as a way out of the crisis, schedul ed for Friday, has been postponed indefinitely. The military are using the s tate media to portray the violence as urban rioting. During yesterday mornin g's violence, angry protesters burned down the state lottery building and th e government public relations department, both traditional targets of demons trations against corruption and media censorship. Investment fears over Thai land's stability, Page 4 Ugly roar from a young tiger, Page 18 Military migh t crushes Thai equities, Page 39 The Financial Times London Page 1 ============= Transaction # 160 ============================================== Transaction #: 160 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 53 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: FT933-2521 _AN-DISAKAATFT 9309 18 FT 18 SEP 93 / Sun still shines for big bucks tourism : Damian Fraser finds Florida little shaken by murders among holiday-makers By DAMIAN FRASER THE MURDER of nine foreign visitors in a year is the stuff of public relations nightmares for every tourist destination. Florida reached that unenviable record on Tuesday , with the killing of the British holiday-maker Mr Gary Colley. It is waitin g anxiously for the full impact on its premier industry. Florida is the worl d's most popular tourist spot, having overtaken California last year. A litt le more than 41m tourists - about 36m Americans and 7m foreigners - came to the Sunshine State last year, some 2 per cent more than the year before. Tou rism is also Florida's largest industry. Tourist spending was Dollars 31bn ( Pounds 20.1bn) last year, or 22 per cent of the total in the state. Florida authorities are the first to admit the negative publicity from the killings will have some short-term impact. Mr Greg Farmer, commerce secretary, says t he industry might suffer a 15-25 per cent decline this year. Of particular c oncern is the booming convention business, which received 680,000 delegates last year. 'They look for safety,' says Mr Crotts, 'and the perception is Fl orida is not safe'. Travel agents expected the biggest impact in the oversea s market, the fastest-growing segment of the tourist industry. They spoke of the immediate reduction in bookings from German-speaking countries, and exp ected the UK tabloid newspaper coverage of the murder of Mr Colley to have i ts effect on the UK market. With more than 1m tourists to Florida annually, the UK sends the largest number of its citizens to the state after Canada. T he immediate problem is not cancellations. These are unlikely just now, give n the deposits tourists pay, but the winter season, for which bookings are n ow being made, is another matter. The overseas tourists will be further put off by the appreciation of the dollar against European currencies. The Assoc iation of British Travel Agents (Abta) expects growth of UK tourism to Flori da to slow to single digits per cent this year, from 22 per cent growth last year. But the Abta doubts there will be a decline of UK tourism, since most would-be tourists realise that the odds against them being subject to a cri me remain long. Local economists likewise doubt the impact of recent murders will be 'catastrophic', as Mr Farmer put it. Florida has enormous advantage s - winter sun, beaches, the world's best theme parks in Orlando, and a huge amount of repeat business from Americans with homes or relatives in the sta te. Florida has established a critical mass of highly competitive tourist se rvices that offer some of the cheapest and best-value accommodation in the w orld. The state boasts varied attractions. Miami, notwithstanding all its da ngers, has become a commercial hub of the Americas, with companies such as A T&T and General Motors setting up regional Latin American headquarters in th e city. Orlando brings in mainly US tourists, though Europeans are catching up quickly (growing by 32 per cent last year). Much safer than Miami, Orland o attracts families and increasingly businessmen at conventions. As the stat e's most important industry, tourism enjoys privileges. Hundreds of murders of locals barely raise an eyebrow in the state but the killing of Mr Colley and, last week, that of the German Mr Uwe-Wilhelm Rakebrand, set off a massi ve campaign to promote tourist safety, including 24-hour patrols of highway rest areas, plain-clothes police searching for lost tourists, and free telep hone advice to tourists. Fear is not yet deterring investors. This week, Uni versal Studios voted with its cheque book on the future of Florida's tourism industry by announcing an estimated Dollars 3bn expansion in Orlando, inclu ding a Jurassic Park theme park, hotels, a convention centre and golf course s. Countries:- USZ United States of America. < XX> Industries:- P9611 Administration of General Economic Programs . P7999 Amusement and Recreation, NEC. Types:- CMMT Comment & Analysis. The Financial Times London Pa ge 3 ============= Transaction # 161 ============================================== Transaction #: 161 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 54 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: FT921-7159 _AN-CBXBCADHFT 9202 24 FT 24 FEB 92 / Cyprus may face beds shortage as it wo os the tourists By MICHAEL SKAPINKER, Leisure Indust ries Correspondent TAKE your next holiday in Cyprus, a Poun ds 1m advertising campaign told UK television viewers last year. With the Gu lf war over and war-wracked Yugoslavia off the tourist map, the Cypriot effo rt was resoundingly successful. So successful indeed that travel companies n ow fear the number of Britons arriving in Cyprus this summer might exceed th e beds available by as many as 50,000. The Cyprus Tourist Office is struggli ng to match demand and supply. UK travel companies and hoteliers in Cyprus a re being warned that bookings are above expectations. Tour operators in othe r European countries are being told that the British, who traditionally acco unt for more than 40 per cent of Cyprus's visitors, have already booked many of the rooms. Travel companies give the tourist office high marks for the s peed with which it has acted. 'Of all the tourist offices, they're probably the most responsive,' says Mr Roger Allard, managing director of Owners Abro ad, the UK holiday company. Other operators are worried, however. Mr George Marcall, sales director of Airtours, another large tour company, insists his customers will get the holiday they booked. He is not certain all operators can say the same. Alarm bells rang last month, when Cyprus's share of UK su mmer package holiday sales reached 12 per cent, double the previous year's l evel. The island's hoteliers were, however, hit by the Gulf war last year. W orried about another poor season, many sold the same bed to more than one to ur operator to ensure that their hotels would be filled. Tour operators say this is not unusual. However if current sales trends continue, there could b e 800,000 British package tourists this summer. Mr Orestis Rossides, the Cyp rus Tourist Office's London director, says there are only about 750,00 beds available for them. Mr Rossides promises that no one will have to sleep on t he beach. Tourists whose rooms fail to materialise will be moved to the less crowded establishments - with the hoteliers bearing the cost. The Financial Times London Page 16 ============= Transaction # 162 ============================================== Transaction #: 162 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 55 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: FT923-5711 _AN-CIBBCAE6FT 9208 28 FT 28 AUG 92 / Survey of Malaysia (10): Helpful neigh bours can also be a liability - Tourism is the only service industry to run a surplus, but there is anxiety at the central bank By VICTOR MALLET TO THE Malaysian tourism industry, Thailan d is a source of both inspiration and despair: inspiration, because of its l ongstanding success in attracting foreign visitors; despair, because the pol itical violence in Bangkok in May has prompted some holidaymakers to cancel their visits to south-east Asia. Malaysia is anxious to emulate Thailand's s uccessful handling of the tourist trade, not least because the Kuala Lumpur government is concerned about the services deficit in the balance of payment s, and tourism is the only service industry to run a surplus. By 1990 - or V isit Malaysia Year 1990, if you are in the tourism business - tourists had b ecome the country's third largest source of foreign exchange, after manufact uring and crude oil, although arrivals have since fallen from that year's to tal of 7.5m visitors. In its latest annual report, the Malaysian central ban k notes with some Angst that the country's tourism industry is lagging behin d those of its neighbours in Asean (the Association of South East Asian Nati ons) in terms of the sector's share of gross national product. Furthermore, half of Malaysia's visitors are short-stay tourists from Singapore (day-trip pers are not counted); the average length of stay in Malaysia is put at 4.6 nights, against 6.1 for Thailand. Average per diem spending is MDollars 345 in Thailand, compared with only MDollars 128 in Malaysia; Thailand has more than three times as many hotel rooms. With holidays in the developed world b ecoming longer and longer, tourists increasingly favour multi-destination ho lidays. Malaysia has used the opportunity to expand its business, particular ly by forging links with Thailand and Singapore, the two main air travel gat eways to south-east Asia (the slogan for the Malaysia-Singapore tie-up is: ' Fascinating Malaysia, surprising Singapore: two great countries, one great h oliday'). The potential disadvantages of such links were graphically illustr ated in May, when troops killed at least 50 pro-democracy demonstrators on t he streets of Bangkok. Many holidays through the Bangkok gateway were cancel led, at least in the short term, and, in the words of Mr Ahmad Bakri Shabdin , the director general of the Malaysia Tourism Promotion Board, 'when they c ancel, they cancel both legs of a journey'. That setback, and the competing lure of the recent Olympic Games in Barcelona, have left Malaysia struggling to reach its target of 6.6m visitors for 1992, although the start of the ne w high season is yet to come. The Gulf war helped push down 1991 arrivals to 5.9m from 1990's 7.5m, and Malaysia had been hoping for a brisk revival. 'C ome 1992, we were hoping for a recovery, but we are now being affected very much by the global recession,' says Mr Bakri Shabdin. 'It has been compounde d by the fact that in 1991 many countries developed domestic tourism.' In th e European market, Malaysia finds itself competing with more convenient dest inations in America or the Mediterranean; and even in Asia, the most importa nt source of tourism, there are problems with the decline of the Japanese in centive travel market. Malaysia has much to offer the tourist, from tropical beach holidays, scuba diving and hill resorts in the peninsula to jungle tr eks and mountain walks in Borneo, but it has never been able to project a cl ear image to its potential customers. The jury is still out on the success o f Visit Asean Year 1992 - an attempt to link the six Asean members (Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand) - but it appea rs that Asean is too little known outside the region to make much impact on the average tourist. Tourism officials point vaguely at Malaysia's ethnic di versity and interesting history, but admit that the name Malaysia conjures u p different and hazy images for different people if it conjures up anything at all. 'Since 1990 we've decided to highlight our natural resources,' says Mr Bakri Shabdin. 'That's one thing we have that is uniquely Malaysian. We a re acknowledged as being the home of the oldest rainforest in the world.' Le aving aside the controversy over whether that rainforest is being irreparabl y destroyed by logging, Malaysia also realised from its 1990 campaign that i t was worth making an effort to promote the country vigorously as a tourist destination, and worth linking its promotions to special events already sche duled for Malaysia. 'We learned from 1990 that there is a very marked correl ation between events and people arriving in the country,' says Mr Bakri Shab din. 'We realise that tourism is very much a consumer-oriented activity, and therefore we have to continually make our presence felt in the global touri sm market.' The result was a decision to launch another Visit Malaysia Year in 1994 - an idea first mooted as early as 1991 and formally inaugurated th is year - and to repeat the process every four years. This will fit convenie ntly with the Commonwealth Games in Malaysia in 1998. Malaysia has already s tarted to release promotional material for the 1994 campaign, featuring a ju ngle scene with flowers, butterflies and a waterfall. Tourists are curious, but it is questionable whether many foreign visitors will be drawn to Malays ia by some of the advertised events - including a squid-fishing festival, an Asean literature meeting, the Ipoh half-marathon, the birthday of the state governor of Malacca and a bird-singing competition - rather than by Malaysi a's more permanent charms of sun, sea, sand and jungle. Perhaps the importan t ingredients for reviving the Malaysian tourism industry will not only be t he kite shows and Malaysian fruit festivals, but also the continued investme nt in real estate (up to 70 hotels and resorts are planned before the end of the decade and the number of hotel rooms is increasing by 10 to 12 per cent a year), the proposed new airport, and a recovery in the world economy. The Financial Times London Page VI ============= Transaction # 163 ============================================== Transaction #: 163 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 56 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: FT922-5273 _AN-CFAA4AC1FT 9206 01 FT 01 JUN 92 / UN Sanctions Against Serbia: Belgrade protesters express their shame By LAURA SILBER BELGRADE TENS of thousands of people y esterday staged an anti-war protest in Belgrade, the Serbian capital yesterd ay. Mr Ivan Vejvoda, a Belgrade sociologist, said: 'We are here with a messa ge of great importance from Belgrade to the people of Sarajevo: We are with you'. The Bosnian capital has been under siege for the past two months. The crowd of some 50,000, which included mothers and children, yesterday demande d an end to the war. They marched through the city centre carrying a black b anner symbolising their grief over the killings and destruction in Bosnia. C hanting 'Slobo, Saddam,' they showed their outrage at Serbian President Slob odan Milosevic. Many expressed shame about Serbia's role in the war. They ca rried signs saying: 'God does not forgive the sin of murder' and 'In memoria m to those killed in Bosnia', in contrast to the election banners of the rul ing Socialists which warned: 'We don't bargain with the dignity of our fathe rland' and 'We have faith in our citizens'. Most of the marchers feared the UN sanctions were only a prelude to military intervention. Mr Milan Nikolic, an opposition politician, said: 'Sanctions are better than military interve ntion. But I am afraid this is a step towards intervention. The main victims of the sanctions will be those already against Milosevic. Scientists, actor s, opposition leaders. Military intervention would strengthen Milosevic, by homogenising Serbs in defence of Serbia.' Ms Sanja Sanader, a tourist agent, said: 'Sanctions will punish the average person; It won't destroy those in power. They won't even feel it.' But behind the pride that Belgrade has take n a stand against the violence, loomed the belief that death and destruction will soon engulf Belgrade. 'In the back of everyone's mind is fear the war might spread here,' one marcher declared. The Financial Times < /PUB> London Page 3 ============= Transaction # 164 ============================================== Transaction #: 164 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 57 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: FT932-171 _AN-DGABBACPFT 93063 0 FT 30 JUN 93 / Scots tourism aid put on new footing By JAMES BUXTON, Scottish Correspondent THE GOVERNMENT is to re-organise the way it helps Scotland's tourist indu stry, doing away with a structure which critics say is fragmented and ineffe ctive. The Scottish Tourist Board will continue to be responsible for market ing Scotland as a tourist destination and will take over marketing the Highl ands and Islands from Highlands and Islands Enterprise, the development body . But the tourist board will no longer give financial assistance and advice to tourism businesses. This will be the responsibility of Scottish Enterpris e and Highlands and Islands Enterprise, the two umbrella development bodies which operate through a network of local enterprise companies - the equivale nt of the Training and Enterprise Councils in England. The development bodie s already disburse the bulk of official aid to tourist businesses. A co-ordi nating group to be set up under Lord James Douglas-Hamilton, the Scottish Of fice minister, will draw up a national strategic plan. The Edinburgh-based t ourist board will be told to establish by 1995 a 'substantial office' in Inv erness, the Highland capital. This is expected to involve moving about 50 jo bs to Inverness. The number of area tourist boards, which undertake local pr omotion and assistance, is to be cut from more than 30 to fewer than 10. Mr Ian Lang, Scottish secretary, said yesterday government spending on developi ng and promoting tourism in Scotland would be about the same - about Pounds 50m - but the money would be better spent. Countries:- GBZ United Kingdom, EC. Industries:- P9611 Administr ation of General Economic Programs. Types:- NEWS Gener al News. The Financial Times London Page 13 ============= Transaction # 165 ============================================== Transaction #: 165 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 58 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: FT922-5614 _AN-CE2ATAEZFT 9205 29 FT 29 MAY 92 / Tourist row flares in Ulster By RALPH ATKINS BELFAST < TEXT> TOURIST officials in Northern Ireland yesterday found they had promote d fury as well as holidaymaking after suggesting that inquisitiveness about the conflict between Protestants and Roman Catholics could be a selling poin t for the province. The listing by the Northern Ireland Tourist Board of the 'curiosity factor' as an important strength was condemned by politicians an d business - even if it was only acknowledging an unspoken truth: that most tourists have previously seen Northern Ireland only in grisly news pictures. Tourist board officials hurriedly made clear that its three-year corporate plan did not propose the marketing of bus tours to terrorist-hit areas of we st Belfast, or listing bed and breakfast accommodation along the 'peace line '. The emphasis would be on increasing understanding about the 'troubles', t hey said. The corporate plan says many visitors 'may be motivated to visit s imply to see why there should be such conflict in modern society'. Mr Willia m Hastings, chief executive of the Hastings hotel group, said the board was mistaken. 'The conflict still exists. Were it over, then some places, like t he walls which divide the Shankill and the Falls may be of some interest. Bu t I think we have many other things of much greater interest to offer the to urist,' he said. Mr John Taylor, Ulster Unionist MP, said: 'You don't help t he tourist industry by drawing attention to the troubles.' The Northern Irel and Office is keen to promote tourism, believing there is scope for growth - some 263,000 holidaymakers are estimated to have visited last year. But unt il now explicit mention of conflict has been shunned in favour of Northern I reland's scenic beauty. The Financial Times Londo n Page 8 ============= Transaction # 166 ============================================== Transaction #: 166 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 59 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: FT911-1219 _AN-BEHBSAAQFT 9105 08 FT 08 MAY 91 / Washington seeks to prevent more rioti ng By PETER RIDDELL, US Editor WASHINGTON WIDESPREAD rioting and looting - for the se cond night running in the predominantly Hispanic area of Mount Pleasant in W ashington, about two miles from the White House - led to the imposition of a curfew and a state of emergency across both that area and that of Adams Mor gan between midnight Monday and early yesterday morning. The disturbances ha ve involved gangs of youths breaking shop windows and looting, fires, destru ction of vehicles, and running skirmishes with a thousand police officers wh o fired tear gas. Calm prevailed yesterday as Mayor Sharon Pratt Dixon gathe red her top administrators to discuss ways to prevent a third night of rioti ng. Deputy Police Chief Edward Spurlock said the disturbances were the worst in Washington since 1968, after the assassination of Martin Luther King jr, the black civil rights leader. The violence, though contained within a few hundred square yards, crossed 16th Street, one of the city's main arteries, and came within walking distance of the main residential, tourist and office areas. For most Washingtonians, however, the main evidence of the riots was the live coverage on television, the screams of fire and ambulance sirens a nd heavy activity by low-flying police helicopters. The disturbances followe d the shooting of a Hispanic man by a police officer who was trying to detai n him for public drinking. According to the police, the man, now in a critic al condition, drew a knife. According to a Hispanic witness, he was handcuff ed when shot. This triggered the waves of violence against both property and the police on Sunday and Monday evenings in the Mount Pleasant and Adams Mo rgan areas. The latest events have underlined simmering tensions between the generally poor Hispanic community and the District of Columbia government a nd police force, which are predominantly black and, as such, reflect the cit y's racial composition. The tensions in Washington between Hispanics and bla cks have been matched in other US cities, such as Miami, Los Angeles and Hou ston, where there are large Spanish-speaking populations, often made up of r ecent immigrants, who argue that they are badly treated and often excluded f rom power. Following the first night's riots, local residents told Ms Dixon that Hispanic people were harassed by the police and poorly treated by city agencies. Less than 4 per cent of the police are Hispanic, compared with at least 10 per cent of the city's population. Many of the Hispanics are recent refugees from central America and speak only Spanish. Ms Dixon promised to improve communications and said district agencies would hire more Hispanic p eople. This is her first big test since she took over four months ago from M ayor Marion Barry, who, despite his drug and alcohol problems, proved to be a wily operator in reducing conflicts in the city. Sharon Pratt Dixon, mayor of Washington, who sometimes carries a broom as token of her determination to clean up the city administration, has promised more help for local Hispan ics The Financial Times London Page 6 ============= Transaction # 167 ============================================== Transaction #: 167 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 60 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: FT943-6049 _AN-EIAD1AAWFT 9409 01 FT 01 SEP 94 / Fears of violence stalk Cairo conferen ce: Population delegates are putting themselves in danger's way, militants w arn By MARK NICHOLSON CAIRO The glee with which the Egyptian government originally gr eeted the UN's selection of Cairo as host to next week's International Confe rence on Population and Development looks increasingly tinged with apprehens ion, as the hordes of delegates, journalists and assorted experts start to a rrive. After two years' hitting the headlines for Islamic militant violence, publicity which devastated its glittering tourism industry, Egypt was able to point proudly to the conference as evidence of the highest confidence in its control of domestic security. The prestige of the gathering was also tak en as acknowledgment of Egypt's central role in the Middle East and Moslem w orld. But as Monday's official opening of the conference nears, its hosts ha ve reason to feel anxious. Not only has the violent and militant Gamaa al-Is lamiyya re-emerged after several months' relative silence to warn visitors t hat they 'are putting themselves in danger's way' by attending, but the deba te about the conference's agenda has suddenly reared into an awkward religio us battle which seems to have caused one of Egypt's staunchest regional alli es, Saudi Arabia, to boycott the affair altogether. It has put Cairo firmly on the defensive in its domestic political tussle with Islamic conservatives . The government has bent every bone to assure the greatest possible securit y for the conference, which will attract 15,000 delegates, with an assortmen t of prime ministers, vice-presidents and celebrities. The capital's main ro utes are dotted with white-uniformed police, and parking has been banned aro und the main hotels, which resemble minor military encampments. Until a week ago, the Cairo government could claim with some confidence that it had won the upper hand in its assault on violent Islamic extremists. Although violen ce continued in militant hotbeds around Assiut in Upper Egypt, Gamaa al-Isla miyya had failed to pull off attacks on tourist targets for almost five mont hs, its flow of faxed warnings had abated and the capital had for months bee n free of even minor incidents. But last Friday, Gamaa re-surfaced to claim credit for an attack on a group of Spanish tourists in Upper Egypt in which a young Spaniard was killed. Last weekend it condemned what it called the 'c onference on licentiousness' and made its warning to attending delegates. Th e result has been to remind the government, and all those attending the conf erence, that however successful the government has been in constraining mili tant violence, it has failed to eliminate it. Few diplomats or other observe rs in Cairo would therefore pronounce with any confidence that the next 10 d ays will pass without a single incident. 'It is an enormous test,' says a we stern diplomat. 'The militants will know that the smallest incident over the next few days will get them big headlines.' But the headlines surrounding t he conference to date have already been discomfiting enough for the governme nt. That the conference's proposed final text has become the focus of a furi ous battle between Roman Catholic and Moslem conservatives and the majority of the other 170 states represented at the meeting, who have been working on the draft for some two years, is embarrassing enough. It has already led to the boycotts by Saudi Arabia and Sudan, and is likely to have been a factor in the decisions of Turkey's Premier Tancu Ciller and Ms Begum Khaleda Zia, Bangladesh's prime minister, not to attend. Worse, for the government, howe ver, is the ammunition the row over the draft text has handed Egypt's religi ous conservatives, particularly the Moslem Brotherhood, to which President H osni Mubarak's regime vehemently denies status as a political party. The reg ime has done all it can in recent months to counter the Brotherhood's increa singly successful infiltration of powerful professional associations, such a s the lawyers' and doctors' syndicates. The government is suspicious of the Brotherhood's position in relation to extremist and violent militant groups, despite the Brotherhood's constant assertion of its moderation. It recently excluded the Brotherhood from a national political dialogue, saying it did not exist as a political group. It has done all it can to try to diminish th e Brotherhood's religious and political authority, in favour of its own stat e-sanctioned Islamic voice, which has traditionally issued from the Al-Azhar University mosque, one of Islam's oldest seats of instruction. But the Al-A zhar earlier this month handed the government an unpleasant surprise by cond emning the conference as un-Islamic. It accused the draft text of condoning homosexuality, abortion and pre-marital and adolescent sex. The Brotherhood promptly agreed with the condemnation, branding the conference an imperialis t attempt by the west to curb population growth in the Moslem world. That th e row over the draft text has handed the Brotherhood a powerful political pl atform is clear from the fact that the government has been forced to reply, defensively, that it could not condone anything in the final document which ran contrary to Sharia, or Islamic, law. 'The government cannot oppose the B rotherhood,' says Mr Essam al-Arian, a doctor and Brotherhood spokesman, 'be cause society feels we are moderate and active. They have no choice but to h ave full dialogue with us.' The full political consequence of this row for t he government, and the implications for its own population policies will tak e much longer than the conference to shake out. Leaders of the Brotherhood h ave their eyes firmly on next year's party elections, which they are likely to contest in informal alliance with the Labour Party. Meanwhile, the confer ence hosts can only hope at least for another incident-free fortnight in Cai ro, one which might help to restore the city's currently fully booked hotels to their former profitability. Countries:- EGZ Egyp t, Africa. Industries:- P9721 International Affairs. Types:- NEWS General News. The Financial Time s London Page 4 ============= Transaction # 168 ============================================== Transaction #: 168 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 5250 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 169 ============================================== Transaction #: 169 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 61 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: FT931-11990 _AN-DA4ASAD1FT 930 130 FT 30 JAN 93 / Letter: Promoting UK more difficult < /HEADLINE> From Mr WILLIAM DAVIS Sir, I hope yo u will allow me to set the record straight about the British Tourist Authori ty and English Tourist Board ('Tourist chief failed to win allies', January 28). The ETB board unanimously expressed its dismay at the government's deci sion to cut its grant-in-aid. So did the chairmen of the 11 regional boards. The BTA may appear to have its grant-in-aid maintained, but devaluation of sterling has substantially reduced our ability to promote Britain around the world. I also want to make it clear that it was entirely my decision to giv e up the chairmanship of both boards at the end of March. William Davis, cha irman, British Tourist Authority and English Tourist Board, 24 Grosvenor Gar dens, London SW1W 0ET Countries:- GBZ United Kingdom , EC. Industries:- P9651 Regulation of Miscellaneous C ommercial Sectors. Types:- CMMT Comment and Analysis. The Financial Times London Page 7 ============= Transaction # 170 ============================================== Transaction #: 170 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 62 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: FT944-18179 _AN-EJED5ABJFT 941 005 FT 05 OCT 94 / Police chief flees Haiti By TED BARDACKE PORT-AU-PRINCE Haitian police chief Lt-Col Michel Francois has fled to the neighb ouring Dominican Republic in a move that US officials say will go a long way towards reforming the country's dreaded police force. Col Francois was init ially detained by Dominican officials, who would not let him cross the borde r. The officials, later relented and allowed him in on a tourist visa. Intel ligence officials later confirmed Col Francois had arrived in Santo Domingo. Haiti's military leaders, scheduled to step down by October 15, did not imm ediately appoint a new police chief and Mr Stanley Schrager of the US embass y suggested the post may remain vacant until exiled President Jean-Bertrand Aristide chooses someone to fill it. With Col Francois removed, US officials began to implement their plan for a new police force, selecting a site for a temporary training academy, where eventually 4,000 new officers will be tr ained. Hopes of a peaceful transition to democratic rule were further booste d yesterday when Mr Emmanuel Constant, head of the Front for the Advancement and Progress of Haiti (Fraph), urged his followers to end the violence and support the return of President Aristide. The leader of the main paramilitar y group said Fraph would serve as a 'constructive opposition'. Mr Constant's plea came a day after the US military stormed Fraph headquarters. US troops detained fewer than 100 of the several thousand members of Fraph but milita ry patrols increased. 'It is becoming clear there is a new sheriff in town,' said Mr Schrager, expressing hope that Lt-Gen Raoul Cedras, Haiti's militar y strongman,would join Col Francois in leaving the country. At the United Na tions yesterday President Aristide said he planned to return home after thre e years in exile by October 15 at the latest. Countries:- HTZ Haiti, Caribbean. Industries:- P9721 Internat ional Affairs. Types:- NEWS General News. PEOP Pe ople. The Financial Times London Page 6 ============= Transaction # 171 ============================================== Transaction #: 171 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 63 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: FT943-5749 _AN-EICAFACOFT 9409 02 FT 02 SEP 94 / Northern Ireland: Business hopes for u p to 30,000 jobs - Economy By TIM COONE DUBLIN The IRA ceasefire has injected a mood of cautious optimism into Northern Ireland's business community, but has als o triggered warnings that economic support to the province must be maintaine d to underpin the hoped-for peace. Business leaders and economists in Belfas t estimate that a lasting peace could bring between 15,000 and 30,000 new jo bs to the province over the next five years, but this would be partially off set by job losses in security-related employment. One other benefit from a p eace settlement, mentioned by a number of business executives yesterday, wou ld be that companies would find it easier to attract senior managers to the province. Mr Nigel Smyth, the director of the Confederation of British Indus try (Northern Ireland), said if the ceasefire proved to be permanent, 'there will be a lot of business opportunities in the medium and long term'. He th ought job growth through inward investment would quadruple, from about 500 p er year to 2,000 over a two-to-three-year period, while an additional 10,000 jobs could be created in the tourist industry. 'On a per capita basis, tour ist numbers here are presently a third of those in the republic and a quarte r of those in Scotland,' he said. Mr Michael Smyth, an economist at the Univ ersity of Ulster at Jordanstown, said the CBI figures erred on the conservat ive side. Tourism contributes 1.5 per cent to GDP in the province, compared with 7 per cent in the republic, so catching up with the south could create 20,000-30,000 tourism jobs in Northern Ireland. Unemployment is currently 98 ,000 - 13.1 per cent of the workforce. Stena Sealink, one of the main ferry operators across the Irish Sea, said interest in Ireland as a holiday destin ation 'is weighted very much towards the south because of the troubles in th e north. Clearly, a permanent end to the violence would do no end of good.' The CBI said a climate of peace would allow manufacturing and service compan ies to focus their marketing on quality production. Mr Nigel Smyth said Nort hern Ireland businesses had one of the best records in Europe for quality aw ards, but that had been overshadowed by the province's image problem. The do wnside of the peace will be the inevitable cuts in the security forces and s ecurity-related industries. Reductions in policing levels and the prison pop ulation, and eased security in shops, offices and factories will mean less o vertime, job losses, and less money going into the economy - the loss could be as much as Pounds 300m to Pounds 400m per year. The more pessimistic fore casts envisage job losses in the region of 20,000, a figure calculated by Dr Graham Gudgin of the Northern Ireland Economic Research Council. He said th at over four to five years the province's economy 'will be lucky to break ev en on jobs'. Mr Smyth of UUJ said the number of job losses was more likely t o be around 10,000 to 12,000, but he admitted there could be further indirec t losses. Mr Michael Smyth said the transition to a peacetime economy would have to be managed very carefully. The government would be 'extremely foolis h if it were to send any savings it made through an end to the violence stra ight back to the Treasury.' The CBI said any security-related savings and ex chequer benefits achieved through economic growth 'should be redirected towa rds wealth creation and training'. The Department of Economic Development in Belfast acknowledged that there was a danger of short-term job losses. 'But any change will not be a jolt but gradual, and will be balanced by new jobs over a period. The economic development budget is very substantial at Pound s 400m and is expected to remain that way.' It said the Treasury would decid e whether additional resources through savings on security could be redirect ed towards development. There may also be help from other sources. Last nigh t Sir Leon Brittan, the European commissioner, said the European Union was r eady to consider increasing the aid and assistance it gives to Northern Irel and. Mr Clem Parkes, chief executive of CV Carpets which is based in the nor th-east of the province, said: 'It is always difficult to get managers and s pecialists that we cannot find here to relocate from Britain. That will beco me much easier. And our experience is that when we do get them here they don 't want to leave.' Countries:- GBZ United Kingdom, E C. Industries:- P9311 Finance, Taxation, and Monetary P olicy. P9611 Administration of General Economic Programs. Typ es:- CMMT Comment & Analysis. The Financial Times London Page 9 ============= Transaction # 172 ============================================== Transaction #: 172 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 64 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: FT931-431 _AN-DC3CGAD6FT 93033 0 FT 30 MAR 93 / Mubarak accuses Iran over bombings By ROGER MATTHEWS and MARK NICHOLSON CAIRO PRESIDENT Hosni Mubarak of Egypt yesterday acc used Iran of attempting to destabilise his government by sponsoring recent b ombings and attacks on tourist targets in the country. 'For sure, Iran is fu ndamentally behind this,' Mr Mubarak said in an interview with the Financial Times. Mr Mubarak's remarks are the most explicit allegation he has made of direct Iranian attempts to bring down his government. They mark a further d eterioration in relations between Egypt and Iran after sharp exchanges betwe en the two governments earlier this year. The president warned remaining Ira nian diplomats in Cairo that they were being closely watched and he would no t hesitate to throw them out if there was evidence linking them with the wav e of bombings. Mr Mubarak avoided making a direct connection between Iran an d the bomb attack on the World Trade Centre in New York last month, but adde d that an Egyptian returned to the US last week to face trial had provided ' full information' about the group which was responsible. He said Mr Mahmoud Abu Halima, one of five men held in connection with the New York bombing, ha d given details about alleged quarrels over money that he had with Sheik Oma r Abdul Rahman, the Egyptian cleric who has denied any involvement in the ex plosion. Mr Mubarak, who tomorrow visits Germany before travelling on to Bri tain and the US, said the men responsible for recent attacks in Egypt had pr eviously been in Afghanistan, were trained by Iran and had gone via Sudan an d Libya to Egypt. More than 40 people have died in clashes this month betwee n Egyptian security forces and Islamic extremists. Mr Mubarak said the viole nce had been 'very shocking' but pledged it would not destabilise his govern ment. Last peace train, Page 6 Countries:- EGZ Egypt , Africa. IRZ Iran, Middle East. Industries:- P922 9 Public Order and Safety, NEC. P9721 International Affairs. Types:- GOVT Government News. The Financial Times London Page 24 ============= Transaction # 173 ============================================== Transaction #: 173 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 65 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: FT932-11353 _AN-DEECIABCFT 930 505 FT 05 MAY 93 / Premadasa leaves legacy of growth: Sl ain Sri Lankan president's gains set to live on By S TEFAN WAGSTYL THOUSANDS of Sri Lankans yesterday stood in l ine on the beach of Colombo waiting to enter the waterfront mansion of the a ssassinated President Ranasinghe Premadasa to pay their last respects. Among them were businessmen who wished to honour a man who had done much for his country's economy. Mr Premadasa presided over rapid liberalisation, solid ec onomic growth, a sharp rise in share prices and an unprecedented surge in fo reign investment. Businessmen in Colombo believe Mr Premadasa's economic ach ievements will survive his bloody death at the hands of a suicide bomber las t weekend. They think that even though the assassination could bring confusi on in politics, Sri Lanka's economy will survive the shock. As Mr A S Jaywar dena, chairman of Sri Lanka's Securities and Exchange Commission, says: 'The re will be a loss of confidence but it will be moderate.' Sri Lankan executi ves have grown used to doing business amid political turmoil. For 10 years t he country has been split by a civil war in the north and east in which the Tamil Tigers insurgents are fighting for a separate homeland for the minorit y Tamil community against the wishes of the majority Sinhalese. However, bus inessmen do have one concern - that the president's death and the assassinat ion the previous week of Mr Lalith Athulathmudali, an opposition leader, mig ht trigger more general violence in the relatively prosperous south and west of the island. The danger yesterday seemed remote - Sri Lankans have reacte d remarkably calmly to the president's assassination. But the risk exists: t he JVP, a Singhalese anarchist group, resorted to violence in the late 1980s and was ruthlessly suppressed at considerable cost to Sri Lanka's internati onal reputation. If calm continues to prevail now, much credit will be due t o the way in which the caretaker government, led by Mr D B Wijetunga, the ac ting president, and the opposition parties have refrained from inflaming pas sions. As a western diplomat said yesterday: 'People are behaving very well because they know how quickly the situation might slip out of control if the y try to exploit it.' To businessmen's relief, Mr Wijetunga has also committ ed himself to carrying on with Mr Premadasa's economic policies, including d eregulation of trade, financial services, and privatisation. Moreover, there are strong signs that the opposition leaders would also broadly favour Mr P remadasa's economic policies if they were to come to power. The two assassin ations have come at a time when businessmen are fairly well placed to withst and a moderate blow to confidence. The economy has been growing at an averag e annual rate of 5 per cent in the last three years, including 1992 when the rate slipped to 4.3 per cent because of a severe drought. Mr Wimal Hettiara chchi, director of economic research at the central bank of Sri Lanka, expec ts to see 5 per cent growth this year. 'We hope to see further progress. Pol iticians have their differences, but no one wants to sabotage the national e conomy.' Foreign investment, which has grown from USDollars 50m (Pounds 32m) a year in the mid-1980s to Dollars 200m last year, could suffer from the po litical upheavals as those investors who have yet to commit themselves to Sr i Lanka may decide to hold back. Foreign investment in the country largely c onsists of small investments in businesses which require little capital - su ch as garment-making, shoes and toys. Tourism, an important earner of foreig n exchange for Sri Lanka, is particularly vulnerable to the effects of viole nt incidents. Fortunately for the country's hoteliers, the assassinations ha ve occurred at the end of the tourist season. 'If this had happened in Novem ber, we would be in trouble,' said one Colombo hotel manager. The industry, which is mainly in the south, has only just recovered from the effects of th e JVP insurgency. The number of tourists in 1992 rose 24 per cent to 394,000 - a level last seen in 1984. Sri Lanka cannot afford another prolonged peri od of economic disruption. The country's high literacy rate of more than 90 per cent is the envy of other developing nations. But these well-educated pe ople are more likely than their uneducated peers to demand good jobs. Withou t jobs, they are more likely to voice their anger. As a leading Colombo econ omist sys: 'Sri Lanka needs to keep growing at least as fast as it has in th e past few years.' Countries:- LKZ Sri Lanka, Asia. Industries:- P9721 International Affairs. P9311 Fin ance, Taxation, and Monetary Policy. Types:- ECON Econ omic Indicators. CMMT Comment & Analysis. The Financial Time s London Page 4 ============= Transaction # 174 ============================================== Transaction #: 174 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 66 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: FT923-7572 _AN-CHSA3ACSFT 9208 17 FT 17 AUG 92 / Call to curb crime in Kenya By MICHAEL SKAPINKER The International Federa tion of Tour Operators (Ifto) is to ask Kenya to establish a tourist police force in an attempt to reduce crime against visitors, Michael Skapinker writ es. The call follows a number of widely publicised attacks on tourists in Ke nya which, tour operators say, have led to a fall in bookings. Ifto, which r epresents tour operators in 17 countries, hopes to send a delegation to Keny a at the end of this month to discuss improving safety for tourists. Ifto wi ll also ask for stricter licensing of drivers involved in the tourist indust ry. The Financial Times London Page 3 ============= Transaction # 175 ============================================== Transaction #: 175 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 67 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: FT934-6154 _AN-DKZCOABIFT 9311 26 FT 26 NOV 93 / Egyptian PM escapes Jihad bomb blast < /HEADLINE> By MARK NICHOLSON and SHAHIRA IDRISS CAIRO Mr Atef Sikdi, Egypt's prime minister, yest erday escaped an assassination attempt by Islamic militants after a powerful bomb exploded beside his motorcade near his home in northern Cairo, killing a schoolgirl and injuring at least 11 others. Mr Sidki, 63, was unscathed. Jihad, an extremist Islamic group, immediately claimed responsibility. The b ombing was to 'avenge the blood of the martyrs', a reference to Jihad member s killed by security forces or sentenced to death in recent trials. The atta ck is the third failed assassination attempt on an Egyptian minister in eigh t months. Mr Safwat al-Sherif, information minister, survived a shooting nea r his home in April, while Mr Hassan al-Alfi, interior minister, was injured when a bomb exploded near his motorcade in central Cairo in mid-August, an attack also claimed by Jihad. Six cars parked 800 metres from the prime mini ster's home were damaged by the blast; one, presumed to have contained the b omb, was destroyed. Mr Sikdi, on TV a few hours after the attack, warned the government would toughen its clampdown on Islamic extremists. 'We are going to control this by all feasible, and any other means,' he said. Eight membe rs of Jihad, which its members claim is a revival of the group which assassi nated President Anwar Sadat in 1981, were sentenced to death on terrorist ch arges last month. Nearly 40 extremists have been condemned to death since th e government introduced special military courts earlier this year, and 18 ha ve been hanged. The government's security operations have led to an abatemen t in attacks on tourist targets and bombings in the Egyptian capital, althou gh tit-for-tat killings of Moslem extremists and police have persisted in in Upper Egypt. Since last year 210 people have died in extremist violence. An other 400 alleged members of Jihad are scheduled for trial, facing possible death sentences, in the next few months. Countries:- EGZ Egypt, Africa. Industries:- P9229 Public Order and Safety, NEC. Types:- PEOP People. NEWS General N ews. The Financial Times London Page 6 ============= Transaction # 176 ============================================== Transaction #: 176 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 68 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: FT921-13642 _AN-CAUBNAAJFT 920 121 FT 21 JAN 92 / Survey of Egypt (11): Attractions of peace - Tourists are returning By CAROLINE SOUTHEY < /BYLINE> EGYPT'S tourist industry is celebrating its own victory just 12 months after it was plunged in gloom by the Gulf crisis. In the wake of a publicity drive, Dr Fouad Sultan, the tourism minister, is ebullient. 'Tre nds are extremely positive. We are worried about overbooking,' he says, addi ng that he hopes this season will be the best on record. Last year began on a less happy note. In the fiscal year July-June 1990-91 the industry recorde d 16.5m tourist nights compared with the record of 22.1m the previous year. The drop in tourist income was even more dramatic - by 60 per cent from Doll ars 2.5bn to Dollars 1bn. But the first quarter for this fiscal year (July, August, September) showed a strong rebound. In August 1991 the number of tou rists from Arab countries rose by 5.6 per cent. The average increase in arri vals in August 1991 stood at 2.5 per cent. The recession in the west continu ed to affect non-Arab arrivals which fell by 9 per cent. The activity at som e of Egypt's famous tourists sites only partly reflects the improvement show n by the statistics. In Luxor, site of the Karnak Temple on the east bank of the Nile and the Theban necropolis on the west bank, tour guides confirm an increase in tourists compared with a year ago, but say numbers are still we ll down on 1989. 'We used to have 4,000 tourists a day visiting the tombs in the Valley of the Kings before the Gulf crisis. Last year there were days w hen no-one came. Now we have 1,000 a day.' Ferries used by tourists to cross from the east to the west bank at Luxor are running well below capacity alt hough local tour operators reported capacity bookings in Luxor's 33 hotels f or January. Dr Sultan feels confident that occupancy rates at Cairo hotels f or this holiday season would reach 98 per cent, 75 per cent in South Sinai ( Sharm el Sheikh), 60 per cent in Hurghada on the Red Sea coast, and 65-70 pe r cent in upper Egypt - Luxor and Aswan. He attributes some of the success t o Egypt's marketing campaign after the end of the Gulf war when the governme nt and private sector launched a campaign to sell Egypt as a secure destinat ion. Another factor may have been that many tourists had delayed their trave l until after the Gulf crisis, contributing to a surge in arrivals in the ea rly months of the new fiscal year. Mr Sultan anticipates that tourist nights for 1991-1992 will reach something like 25m (compared with 22.1m in 1989/90 ). Income will exceed the Dollars 3bn achieved in 1989/90. He says that anot her positive trend has been the fact that many hotels in Egypt are reporting tourists returning for a second, third or even fourth time. Mr Sultan says the average stay in Luxor, which used to be about one night, is now three. T he main change, he claims, is that people now know Egypt 'not only for cultu re, but also for other activities such as leisure and conferences'. Egypt ha s encouraged the development of more and better facilities for tourists over the last 10 years. As a result an important factor in the growing number of arrivals has been the large increase in the number of hotel beds. In June 1 991, there were 53,000 rooms compared with fewer than 25,000 rooms in 1985. Another 14,000 rooms are under construction and will be completed in the nex t couple of years. Dr Sultan says the authorities have been successful at st imulating private sector investment in the tourism sector which is by far Eg ypt's fastest growing industry. There is also evidence that Egyptian nationa ls with large off-shore dollar deposits are beginning to invest in the secto r. New projects including extensions to the Meridien Hotel in Cairo and ambi tious schemes on the Red Sea coast south of Hurghada are attracting investme nt from foreigners as well as Egyptians. The industry has its tensions, howe ver. For some involved in preserving Egypt's ancient monuments, the governme nt is pursuing development at the cost of preserving historical sites. 'We t ake our monuments for granted. The government exploits their earning potenti al, but does nothing to protect or develop them. Not enough is being done to curb pollution and ensure we have historical attractions for decades to com e,' says a tour guide in Cairo. The Financial Times London Page V ============= Transaction # 177 ============================================== Transaction #: 177 Transaction Code: 15 (Terms Cleared) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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 # 178 ============================================== Transaction #: 178 Transaction Code: 6 (Direct Rank Search) Terminal ID: 12781888 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: Mon Aug 23 12:32:31 1999 Rec. Format: Short Time Cmd Complete: Mon Aug 23 12:32:31 1999 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 @ {tropical storms})" ============= Transaction # 179 ============================================== Transaction #: 179 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 2304 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 180 ============================================== Transaction #: 180 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-2749 _AN-EIRAQACEFT 9409 17 FT 17 SEP 94 / UK Company News: Tropical storm disrup ts Geest's banana supplies By DAVID BLACKWELL Banana supplies to Geest, whose shares fell sharply early in the year following disease on its Costa Rican plantations, have been hit by a tr opical storm in the Windward Islands. Shares in the group fell 30p to 211p, almost half the year's high of 375p. Tropical Storm Debbie hit the islands a week ago, causing extensive flooding around St Lucia and damage to roads an d bridges. Geest, which is under contract to ship all the islands' bananas, estimates that output will be 40 per cent down. It expects to load only 2,40 0 tonnes a week, compared with a normal load of 4,000 tonnes. The islands, w hich usually provide more than half the group's total banana volume, are not expected to return to full production until the end of next year. The EC's Banana Management Committee, which meets next Wednesday, will consider how t he disaster should be treated under the banana import regime. Mr David Sugde n, Geest's chief executive, said the group was lobbying the European Commiss ion to allow it to buy bananas from other sources to make up the shortfall, and import them into the UK at the same tariff. He attacked the political un certainty still surrounding the regime, as it is unclear whether the commiss ion has the power to determine the tariff on alternative supplies. 'It is a nonsense that, a year into the regime, we are sitting here in this position because of an incident that was eminently foreseeable.' He is expecting some support from the French as the banana industry in Martinique also suffered from the storm. Geest will announce its interim results next Thursday. The C ity is expecting about Pounds 12m, against Pounds 3.5m, following improved b anana prices. Companies:- Geest. Countries :- CRZ Costa Rica, Central America. Industries:- P0179 Fruits and Tree Nuts, NEC. Types:- MKTS Pro duction. The Financial Times London Page 11 ============= Transaction # 181 ============================================== Transaction #: 181 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-2749 _AN-EIRAQACEFT 9409 17 FT 17 SEP 94 / UK Company News: Tropical storm disrup ts Geest's banana supplies By DAVID BLACKWELL Banana supplies to Geest, whose shares fell sharply early in the year following disease on its Costa Rican plantations, have been hit by a tr opical storm in the Windward Islands. Shares in the group fell 30p to 211p, almost half the year's high of 375p. Tropical Storm Debbie hit the islands a week ago, causing extensive flooding around St Lucia and damage to roads an d bridges. Geest, which is under contract to ship all the islands' bananas, estimates that output will be 40 per cent down. It expects to load only 2,40 0 tonnes a week, compared with a normal load of 4,000 tonnes. The islands, w hich usually provide more than half the group's total banana volume, are not expected to return to full production until the end of next year. The EC's Banana Management Committee, which meets next Wednesday, will consider how t he disaster should be treated under the banana import regime. Mr David Sugde n, Geest's chief executive, said the group was lobbying the European Commiss ion to allow it to buy bananas from other sources to make up the shortfall, and import them into the UK at the same tariff. He attacked the political un certainty still surrounding the regime, as it is unclear whether the commiss ion has the power to determine the tariff on alternative supplies. 'It is a nonsense that, a year into the regime, we are sitting here in this position because of an incident that was eminently foreseeable.' He is expecting some support from the French as the banana industry in Martinique also suffered from the storm. Geest will announce its interim results next Thursday. The C ity is expecting about Pounds 12m, against Pounds 3.5m, following improved b anana prices. Companies:- Geest. Countries :- CRZ Costa Rica, Central America. Industries:- P0179 Fruits and Tree Nuts, NEC. Types:- MKTS Pro duction. The Financial Times London Page 11 ============= Transaction # 182 ============================================== Transaction #: 182 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-2749 _AN-EIRAQACEFT 9409 17 FT 17 SEP 94 / UK Company News: Tropical storm disrup ts Geest's banana supplies By DAVID BLACKWELL Banana supplies to Geest, whose shares fell sharply early in the year following disease on its Costa Rican plantations, have been hit by a tr opical storm in the Windward Islands. Shares in the group fell 30p to 211p, almost half the year's high of 375p. Tropical Storm Debbie hit the islands a week ago, causing extensive flooding around St Lucia and damage to roads an d bridges. Geest, which is under contract to ship all the islands' bananas, estimates that output will be 40 per cent down. It expects to load only 2,40 0 tonnes a week, compared with a normal load of 4,000 tonnes. The islands, w hich usually provide more than half the group's total banana volume, are not expected to return to full production until the end of next year. The EC's Banana Management Committee, which meets next Wednesday, will consider how t he disaster should be treated under the banana import regime. Mr David Sugde n, Geest's chief executive, said the group was lobbying the European Commiss ion to allow it to buy bananas from other sources to make up the shortfall, and import them into the UK at the same tariff. He attacked the political un certainty still surrounding the regime, as it is unclear whether the commiss ion has the power to determine the tariff on alternative supplies. 'It is a nonsense that, a year into the regime, we are sitting here in this position because of an incident that was eminently foreseeable.' He is expecting some support from the French as the banana industry in Martinique also suffered from the storm. Geest will announce its interim results next Thursday. The C ity is expecting about Pounds 12m, against Pounds 3.5m, following improved b anana prices. Companies:- Geest. Countries :- CRZ Costa Rica, Central America. Industries:- P0179 Fruits and Tree Nuts, NEC. Types:- MKTS Pro duction. The Financial Times London Page 11 ============= Transaction # 183 ============================================== Transaction #: 183 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-1747 _AN-CIWCOAE3FT 9209 22 FT 22 SEP 92 / World News in Brief: Storm hits Philip pines Tropical Storm Ted ripped across the Philippines, k illing five people, demolishing houses and causing floods, landslides and vo lcanic mudflows. The Financial Times Internationa l Page 1 ============= Transaction # 184 ============================================== Transaction #: 184 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-1747 _AN-CIWCOAE3FT 9209 22 FT 22 SEP 92 / World News in Brief: Storm hits Philip pines Tropical Storm Ted ripped across the Philippines, k illing five people, demolishing houses and causing floods, landslides and vo lcanic mudflows. The Financial Times Internationa l Page 1 ============= Transaction # 185 ============================================== Transaction #: 185 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-1747 _AN-CIWCOAE3FT 9209 22 FT 22 SEP 92 / World News in Brief: Storm hits Philip pines Tropical Storm Ted ripped across the Philippines, k illing five people, demolishing houses and causing floods, landslides and vo lcanic mudflows. The Financial Times Internationa l Page 1 ============= Transaction # 186 ============================================== Transaction #: 186 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-8357 _AN-DHQCUAF9FT 9308 16 FT 16 AUG 93 / World News in Brief: Storm hits Martin ique A three-year-old girl was missing, believed drowned, and about 10 people were injured as tropical storm Cindy swept the French C aribbean island of Martinique, leaving 3,000 homeless. Countrie s:- MQZ Martinique, Caribbean. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natura l resources. The Financial Times International Page 1 ============= Transaction # 187 ============================================== Transaction #: 187 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-8357 _AN-DHQCUAF9FT 9308 16 FT 16 AUG 93 / World News in Brief: Storm hits Martin ique A three-year-old girl was missing, believed drowned, and about 10 people were injured as tropical storm Cindy swept the French C aribbean island of Martinique, leaving 3,000 homeless. Countrie s:- MQZ Martinique, Caribbean. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natura l resources. The Financial Times International Page 1 ============= Transaction # 188 ============================================== Transaction #: 188 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-8357 _AN-DHQCUAF9FT 9308 16 FT 16 AUG 93 / World News in Brief: Storm hits Martin ique A three-year-old girl was missing, believed drowned, and about 10 people were injured as tropical storm Cindy swept the French C aribbean island of Martinique, leaving 3,000 homeless. Countrie s:- MQZ Martinique, Caribbean. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natura l resources. The Financial Times International Page 1 ============= Transaction # 189 ============================================== Transaction #: 189 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-7929 _AN-DHSCEAFIFT 9308 18 FT 18 AUG 93 / World News in Brief: Storm lashes Phil ippines Manila was waist-deep in floodwater after tropica l storm Tasha swept in from the Pacific. Mudflows two metres deep slid down Mount Pinatubo, commuters were stranded and some domestic flights cancelled. Countries:- PHZ Philippines, Asia. Indus tries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times International Page 1 ============= Transaction # 190 ============================================== Transaction #: 190 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-7929 _AN-DHSCEAFIFT 9308 18 FT 18 AUG 93 / World News in Brief: Storm lashes Phil ippines Manila was waist-deep in floodwater after tropica l storm Tasha swept in from the Pacific. Mudflows two metres deep slid down Mount Pinatubo, commuters were stranded and some domestic flights cancelled. Countries:- PHZ Philippines, Asia. Indus tries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times International Page 1 ============= Transaction # 191 ============================================== Transaction #: 191 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-7929 _AN-DHSCEAFIFT 9308 18 FT 18 AUG 93 / World News in Brief: Storm lashes Phil ippines Manila was waist-deep in floodwater after tropica l storm Tasha swept in from the Pacific. Mudflows two metres deep slid down Mount Pinatubo, commuters were stranded and some domestic flights cancelled. Countries:- PHZ Philippines, Asia. Indus tries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times International Page 1 ============= Transaction # 192 ============================================== Transaction #: 192 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT944-14912 _AN-EJTEUAGKFT 941 020 FT 20 OCT 94 / Commodities and Agriculture: EU propo ses higher banana import quota By DEBORAH HARGREAVES The European Commission has proposed a 53,400-tonne increa se in its quota for banana imports from Latin America this year in order to assist the Windward Islands where agricultural areas were devastated by trop ical storm Debbie in September. Governments from the Windward Islands had as ked if they could import bananas from other destinations while they are unab le to fill their own import allocations. This will enable them to maintain t heir market share in the European Union while they rebuild their damaged pla ntations. The Commission has allocated additional tonnages of 30,000 tonnes to Martinique, 14,800 tonnes to St Lucia, 5,900 to Guadeloupe and 2,700 to D ominica. Mr John Compton, prime minister of St Lucia, said recently that 68 per cent of the country's banana crop worth Pounds 45m had been wiped out by the tropical storm. He said it will take two years to repair the damage. Th e increase in quota takes EU banana imports from Latin America to 2.171m ton nes this year. Countries:- QRZ European Economic Com munity (EC). XCZ Latin America. XTZ Windward Islands, Caribbean. < /CN> Industries:- P9611 Administration of General Economic Pr ograms. P5148 Fresh Fruits and Vegetables. Types:- MKTS Market shares. MKTS Production. The Financial Times London Page 39 ============= Transaction # 193 ============================================== Transaction #: 193 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-1514 _AN-EIWEEAFMFT 9409 23 FT 23 SEP 94 / UK Company News: Geest warns of second half loss - Shares fall as damage to banana production takes toll By DAVID BLACKWELL The aftermath of the trop ical storm that severely damaged banana production in the Windward Islands w ill push Geest, the fresh and chilled food group, into the red in the second half. Shares fell 30p to 190p yesterday following the warning from Mr David Sugden, chief executive, who presented a strong set of interim results. Pre -tax profits rose from Pounds 3m to Pounds 17.9m for the six months to July 2 on turnover ahead at Pounds 353.8m (Pounds 332.7m). 'The business has been performing well, but is overshadowed by considerable uncertainty,' said Mr Sugden, referring to the European Commission's laxity in responding to the c ompany's plea for permission to purchase replacement bananas in Latin Americ a. The EC banana management committee failed to agree on Wednesday on measur es that would allow Geest to purchase alternative bananas from Latin America under the EC quota system. The committee does not meet again until October 5. Tropical Storm Debbie hit the Windward Islands earlier this month, causin g extensive flooding around St Lucia and damage to roads and bridges. Geest, which is under contract to ship all the islands' bananas, estimates that ou tput will be 40 per cent down. Last week the first ship to arrive since the storm was half full. The company is expecting to load only 2,400 tonnes a we ek, compared with a normal load of 4,000 tonnes. The first half, however, sh owed the company recovering from the uncertainties surrounding the EC banana regime, introduced last July, as well as an attack of disease on its Costa Rican plantations, which left it Pounds 5.4m in the red at the end of last y ear. Operating profits in the fresh produce division improved from Pounds 2m to Pounds 15m on sales of Pounds 285.6m (Pounds 276.5m). The food preparati on division, which supplies chilled salads and other products, lifted operat ing profits from Pounds 3.3m to Pounds 4.2m on sales of Pounds 66.6m (Pounds 54.4m). The result this time included an exceptional gain of Pounds 2.5m fr om a disposal. Net interest payable rose from Pounds 500,000 to Pounds 3.2m. Earnings per share were 18.9p (2.7p). The interim dividend is unchanged at 3.7p. COMMENT While the problems of disease in Costa Rica appear to have gon e away, Geest's troubles with the European Commission and the banana regime are not over yet, thanks to Tropical Storm Debbie. In spite of its successfu l efforts to boost its food preparation division, the group remains vulnerab le to the banana industry, which is highly political and subject to natural disaster. It has also only two main areas of supply, leaving it looking infl exible beside companies that source more widely. Adding to its problems is g earing of more than 100 per cent. Best guesses at this year's final outcome seem to be around Pounds 9m of profits - better than last year but a far cry from 1991's Pounds 26.2m. See Commodities Companies:- Geest. Countries:- GBZ United Kingdom, EC. Industries:- P5148 Fresh Fruits and Vegetables. Types :- FIN Interim results. CMMT Comment & Analysis. MKTS P roduction. The Financial Times London Page 28 ============= Transaction # 194 ============================================== Transaction #: 194 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT944-16873 _AN-EJKDGAFQFT 941 011 FT 11 OCT 94 / Commodities and Agriculture: St Lucia looks for alternatives after banana disaster By DEB ORAH HARGREAVES The West Indies island of St Lucia lost 70, 000 tonnes of bananas or 68 per cent of its crop in the recent tropical stor m that ravaged the Windward Islands. It will cost Pounds 60m and take about two years to repair the damage and get the island's agriculture industry bac k on its feet again, said Mr John Compton, prime minister, last week. But he stressed that the country was using the damage wrought by tropical storm De bbie to step up its programme of agricultural diversification. 'We're lookin g at tree crops such as mangoes and avocado pears to grow in the hills for n iche markets in Europe,' Mr Compton said. Bananas have traditionally been a mainstay of St Lucia's economy with most destined for the British market. Bu t Mr Compton believes Caribbean producers must become more competitive and d iversify their farm industries. 'We plan to re-organise the whole structure of our banana industry as we realise that competition in Europe will continu e to be strong,' he said. The country is looking for around Pounds 10m in ai d from European Union programmes to assist in increasing production and prod uctivity in bananas as well as diversifying. Mr Compton believes producers i n St Lucia can increase productivity by 50 per cent in fertile valleys by us ing irrigation methods, better drainage, better disease and pest control. He aims to produce the country's quota to the EU market - 127,000 tonnes - on less acreage. But the storm caused major structural damage, altering the cou rse of rivers, knocking out all but one of the island's water supplies. and silting up some rivers. Mr Compton reckons that 20 per cent of the island's fertile valley land is irrecoverably damaged. 'The storm has set back our ef forts considerably, but we want to use this opportunity to go ahead and prop erly re-organise our farming industry,' Mr Compton said. In the meantime, th e Windward Islands, which supply 3 to 4 per cent of EU bananas are looking t o buy in bananas from elsewhere to fulfil their quota and hold on to market share. But the commission has yet to approve the request. Belize is asking f or an increase in its EU quota to reflect the growth in its own banana indus try - the country has a quota for 40,000 tonnes, but production will exceed 55,000 tonnes this year. Countries:- LCZ St Lucia, C aribbean. BZZ Belize, Central America. Industries:- P0179 Fruits and Tree Nuts, NEC. Types:- MKTS Produc tion. MKTS Foreign trade. The Financial Times London Page 31 ============= Transaction # 195 ============================================== Transaction #: 195 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 8 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: FT943-2257 _AN-EITEUAEMFT 9409 20 FT 20 SEP 94 / Commodities and Agriculture: St Lucia hit hardest as tropical storm devastates Windwards' banana crops By CANUTE JAMES KINGSTON, JAMAICA The banana industry in the Windward Islands, the main source o f British imports, was devastated by the tropical storm that passed through the eastern Caribbean ten days ago. Shipping schedules will be disrupted, ac cording to government and industry officials. The islands - Dominica, Grenad a, St Lucia and St Vincent - will lose millions of dollars in exports earnin gs and could also lose some share of the market because of the damage, the i ndustry officials said. St Lucia, the largest producer in the group, has bee n the hit hardest. 'All of our banana, coconut and cattle production has bee n lost, small gardens are destroyed and the roads are flooded,' said Mr John Compton, St Lucia's prime minister. Banana exports provide the island with income of about USDollars 60m a year, representing just under a half of all its foreign earnings. The Windward Islands Crop Insurance Scheme (Wincrop), an agency which insures the region's agriculture, says it is receiving hundr eds of claims following the storm. 'We are receiving claims now mainly from Dominica, St Lucia and St Vincent,' said Mr Kerwin Ferreira, Wincrop's manag er. 'St Vincent's loss is of a fair level, Dominica's significant, and I wou ld say St Lucia is very, very, very bad.' The losses in the Windward Islands will disrupt suppliers to the UK, according to a St Lucian government offic ial. The loss for the four islands will not only be in export earnings but a lso in market share, he said. There is concern in the Windward Islands that any reduction in shipments from the region will benefit Latin American expor ters, who will fill the shortfall. Latin American producers had earlier atta cked the new European Union import regime, which allows duty free entry to C aribbean fruit. 'The has come at a very bad time for the Windwards' industry ,' said the official. 'We might not be able to recapture our markets after t his. The only consolation is that if we start replanting now we will have ex port fruit ready in a few months.' Countries:- XTZ W indward Islands, Caribbean. Industries:- P0179 Fruits a nd Tree Nuts, NEC. Types:- MKTS Market shares. MKT S Production. The Financial Times London Page 32 < /PAGE> ============= Transaction # 196 ============================================== Transaction #: 196 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 9 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: FT933-9488 _AN-DHJCNABKFT 9308 10 FT 10 AUG 93 / High death toll in Caracas storm By JOSEPH MANN CARACAS VENEZUELAN firemen and civil defence crews were yesterday pulling b odies out of the wreckage of shanty towns ringing Caracas, after tropical st orm Bret hit at the weekend. The storm killed about 150 people in the capita l, according to reports. Hundreds have been injured and thousands left homel ess. Yesterday, residents were clearing up after the rains (picture left). M ost of the damage occurred in the Caracas metropolitan area, where heavy rai ns on Sunday morning battered slum dwellings perched on the city's many hill s, causing mudslides and burying people alive. The total number of victims w as still in doubt yesterday and the government had not issued official figur es. Caracas newspapers estimated fatalities nationwide could exceed 300. The US National Weather Service said yesterday that Bret, which was breaking up as it moved off the Colombian coast, could gain strength before passing ove r Central America. The government of Venezuelan President Ramon Jose Velasqu ez of has declared a state of national mourning. Despite a big fiscal defici t, officials are looking for ways to release funds for emergency relief. Countries:- VEZ Venezuela, South America. In dustries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times London Page 4 ============= Transaction # 197 ============================================== Transaction #: 197 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-8104 _AN-DHRCGAAZFT 9308 18 FT 18 AUG 93 / Manila floods continue Residents in the southern suburbs of Manila use guide ropes to steer the m through streets waist deep in water yesterday. Heavy rainfall caused by a tropical storm off the coast has continued to bring severe flooding to low-l ying areas of the Philippine capital Countries:- PHZ Philippines, Asia. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times London Page 4 ============= Transaction # 198 ============================================== Transaction #: 198 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-10294 _AN-EHEC9AEOFT 940 805 FT 05 AUG 94 / Commodities and Agriculture: Price wa r hits Far East plywood markets By KIERAN COOKE Malaysian officials have warned of the dangers of a plywood pri ce war and say Malaysian and Indonesian producers, who account for more than 90 per cent of tropical plywood output, must co-operate to ensure the long term health of the industry. Aggressive cutting has taken the price to Dolla rs 440 a cubic metre from USDollars 550 in June and Mr Lim Keng Yaik, Malays ia's primary industries minister, says producers should consider holding bac k supplies to support the market. He warns that many customers, particularly in China, are not buying because the price is now so fluid. 'It may continu e to drop, perhaps even below Dollars 400 a cu m, a price fetched by tropica l plywood way back in 1988,' says Mr Lim. 'This is the time when producers h ave to pool resources and experience to weather the ongoing storm of a price slump.' Countries:- MYZ Malaysia, Asia. Industries:- P2435 Hardwood Veneer and Plywood. P2436 Softwood Veneer and Plywood. Types:- COSTS Product costs & Pro duct prices. The Financial Times London Page 22

============= Transaction # 199 ============================================== Transaction #: 199 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-9724 _AN-DELCNAGDFT 9305 12 FT 12 MAY 93 / Commodities and Agriculture: Tropical timber 'bashers' attacked By GEOFFREY PLEYDELL KUALA LUMPUR MR LIM Kem Yaik, Malaysia 's minister of primary industries, yesterday attacked importing countries fo r 'bashing' tropical timber exporting countries for their own ends. He said that those who criticised tropical countries should show goodwill and patien ce. Speaking at the opening here of the 12th meeting of International Tropic al Timber Organisation, Mr Lim called for an end to unilateral decisions to boycott the purchase of tropical wood by national governments and individual organisations. He cited the plight of Sarawak, Malaysia, where decisions to reduce tropical logging by 1.5m cubic metres in 1992 and similar amount in 1993 in response to ITTO recommendations had meant the loss of 26,000 jobs a nd USDollars 50m. Producer and consumer country members of the ITTO are divi ded over the future role of the organisation. Mr Lim restated his views that trade in timber from temperate forests should be considered alongside tropi cal interests. He said he wanted to see the present renegotiation of the Int ernational Tropical Timber Agreement expanded to include all world forests. With less than 10 per cent of world international trade being in tropical wo od and the rest of temperate origin, the minister said that the new agreemen t, scheduled to be in place by March 1994, should widen its scope. But tropi cal timber importing countries do not agree. Mr Menzo Baratini, spokesman fo r the European Community, pointed out that the ITTO was set up specifically for tropical timber and had developed principles and strategies aimed at ens uring sustainable management of tropical forests by the year 2000. The syste m of annual national reporting on progress toward sustainable management of productive tropical forests should be standardised, he said, adding that ITT O's real objectives should be in the field of trade. The ITTO meeting takes place against a background of steeply rising prices for tropical timber from Asia Pacific sources. Sawn wood and plywood prices have leapt 40 per cent o ver recent months as log production and export in the Sabah and Sarawak Stat es of Malaysia have fallen in response to moves to conserve forest resources in terms of sustainability and industrial requirements. Countr ies:- MYZ Malaysia, Asia. XAZ World. Industries:- P0811 Timber Tracts. Types:- RES Natural re sources. The Financial Times London Page 30 ============= Transaction # 200 ============================================== Transaction #: 200 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 2304 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 201 ============================================== Transaction #: 201 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT934-10311 _AN-DKKCTAHAFT 931 105 FT 05 NOV 93 / World News in Brief: Airliner skids i nto harbour All 296 people aboard a Boeing 747 of Taiwan' s China Airlines scrambled down escape chutes to safety after the airliner s kidded off a runway into Hong Kong harbour during a severe tropical storm. T wenty-three people were taken to hospital with minor injuries and shock. Pic ture, Page 5 Countries:- HKZ Hong Kong, Asia. Industries:- P9229 Public Order and Safety, NEC. T ypes:- NEWS General News. The Financial Times < PAGE> International Page 1 ============= Transaction # 202 ============================================== Transaction #: 202 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-15195 _AN-EGKDTACRFT 940 711 FT 11 JUL 94 / Business Travel (Update): Taiwan typh oon By DAVID OWEN Typhoon Tim lashe d eastern Taiwan with strong winds and heavy rain yesterday, forcing the sus pension of flights to two offshore islets. Taiwanese officials said an impor tant highway in Hualien city was closed because of landslides set off by the torrential downpour. In the Philippines, the Manila weather bureau said ano ther tropical storm, Vanessa, had developed in the South China Sea and was b ringing strong winds and heavy rains to the main Philippine island, Luzon. < /TEXT> Countries:- TWZ Taiwan, Asia. PHZ Philippines, A sia. Industries:- P9229 Public Order and Safety, NEC. < /IN> Types:- RES Natural resources. The Financial Times London Page 14 ============= Transaction # 203 ============================================== Transaction #: 203 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-15195 _AN-EGKDTACRFT 940 711 FT 11 JUL 94 / Business Travel (Update): Taiwan typh oon By DAVID OWEN Typhoon Tim lashe d eastern Taiwan with strong winds and heavy rain yesterday, forcing the sus pension of flights to two offshore islets. Taiwanese officials said an impor tant highway in Hualien city was closed because of landslides set off by the torrential downpour. In the Philippines, the Manila weather bureau said ano ther tropical storm, Vanessa, had developed in the South China Sea and was b ringing strong winds and heavy rains to the main Philippine island, Luzon. < /TEXT> Countries:- TWZ Taiwan, Asia. PHZ Philippines, A sia. Industries:- P9229 Public Order and Safety, NEC. < /IN> Types:- RES Natural resources. The Financial Times London Page 14 ============= Transaction # 204 ============================================== Transaction #: 204 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-15195 _AN-EGKDTACRFT 940 711 FT 11 JUL 94 / Business Travel (Update): Taiwan typh oon By DAVID OWEN Typhoon Tim lashe d eastern Taiwan with strong winds and heavy rain yesterday, forcing the sus pension of flights to two offshore islets. Taiwanese officials said an impor tant highway in Hualien city was closed because of landslides set off by the torrential downpour. In the Philippines, the Manila weather bureau said ano ther tropical storm, Vanessa, had developed in the South China Sea and was b ringing strong winds and heavy rains to the main Philippine island, Luzon. < /TEXT> Countries:- TWZ Taiwan, Asia. PHZ Philippines, A sia. Industries:- P9229 Public Order and Safety, NEC. < /IN> Types:- RES Natural resources. The Financial Times London Page 14 ============= Transaction # 205 ============================================== Transaction #: 205 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-15451 _AN-EGJAPAA1FT 940 709 FT 09 JUL 94 / Georgia awash after Alberto brings fl oods Muddy floodwaters cover the streets of downtown Mont ezuma, Georgia, yesterday as the remnants of tropical storm Alberto drenched the state for a fourth day, leaving damage estimated at over Dollars 100m. At least 19 people were reported to have died in Georgia and another in Alab ama. The city of Albany, 175 miles south of Atlanta along the swollen Flint River, evacuated some 15,000 people to higher ground as coffins floated in c emeteries. Across the US, at least 12 firefighters were reported to have die d when they were overrun by a forest fire in the Rockies about 120 miles wes t of Denver. Countries:- USZ United States of Americ a. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 4 ============= Transaction # 206 ============================================== Transaction #: 206 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-15451 _AN-EGJAPAA1FT 940 709 FT 09 JUL 94 / Georgia awash after Alberto brings fl oods Muddy floodwaters cover the streets of downtown Mont ezuma, Georgia, yesterday as the remnants of tropical storm Alberto drenched the state for a fourth day, leaving damage estimated at over Dollars 100m. At least 19 people were reported to have died in Georgia and another in Alab ama. The city of Albany, 175 miles south of Atlanta along the swollen Flint River, evacuated some 15,000 people to higher ground as coffins floated in c emeteries. Across the US, at least 12 firefighters were reported to have die d when they were overrun by a forest fire in the Rockies about 120 miles wes t of Denver. Countries:- USZ United States of Americ a. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 4 ============= Transaction # 207 ============================================== Transaction #: 207 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT943-15451 _AN-EGJAPAA1FT 940 709 FT 09 JUL 94 / Georgia awash after Alberto brings fl oods Muddy floodwaters cover the streets of downtown Mont ezuma, Georgia, yesterday as the remnants of tropical storm Alberto drenched the state for a fourth day, leaving damage estimated at over Dollars 100m. At least 19 people were reported to have died in Georgia and another in Alab ama. The city of Albany, 175 miles south of Atlanta along the swollen Flint River, evacuated some 15,000 people to higher ground as coffins floated in c emeteries. Across the US, at least 12 firefighters were reported to have die d when they were overrun by a forest fire in the Rockies about 120 miles wes t of Denver. Countries:- USZ United States of Americ a. Industries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. The Financial Times London Page 4 ============= Transaction # 208 ============================================== Transaction #: 208 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-15840 _AN-DDHB2AFXFT 930 408 FT 08 APR 93 / Commodities and Agriculture: Timber a ccord faces green pressures By FRANCES WILLIAMS GENEVA NEGOTIATIONS ON a new tropical timber accord to replace the 1983 United Nations agreement begin next week in Geneva amid strong pressure from environmental groups for tougher rules o n forest conservation. The 51 members of the International Tropical Timber A greement - who account for virtually all the Dollars 7.5bn world tropical ti mber trade - will also discuss a controversial demand from producing countr ies that non-tropical timber be included in the successor accord. This idea has already been rejected by consumer nations. Producers will in addition be pressing rich nations to share the burden of tropical forest conservation b y increasing financial assistance and facilitating technology transfer. The four-day meeting, which ends on April 16, is not expected to resolve the mai n differences between the two sides. The UN Conference on Trade and Developm ent has already scheduled a further negotiating session in Geneva for June 2 1-25. The 1983 tropical timber accord, which came into force in 1985, is due to expire at the end of March 1994. Its 23 producing members, the biggest b eing Brazil, Indonesia and Malaysia, represent about 89 per cent of the worl d's tropical forests and about the same proportion of world exports of tropi cal timber by volume. Japan and the European Community are by far the bigges t importers among the 28 consumer members, which account for about 80 per ce nt of tropical timber imports. The 1983 agreement aims to ensure that the ec onomic use of tropical timber is balanced with conservation efforts and envi ronmental needs. But environmentalists complain that the International Tropi cal Timber Organisation, which administers the pact, has failed to stop larg e-scale forest destruction and degradation. For their part, producers say th e ITTO has been of little help in promoting sustainable forest development. Initially, the main function of the Yokohama-based organisation was seen as promoting research and development projects related to forest management, ex ploitation and economic and market information. By the end of last year, the ITTO's council had approved 179 projects worth Dollars 150m. But in the pas t two to three years, the ITTO has paid more attention to environmental issu es. Its 1990 action plan includes giving priority to arresting the decline a nd degradation of tropical forests, and in 1991 members committed themselves to ensuring that by the year 2000 all tropical timber exports will come fro m sustainably managed forests. The ITTO has also issued guidelines on sustai nable forest management and the conservation of biological diversity in trop ical forests. Countries:- XAZ World. Indu stries:- P0811 Timber Tracts. Types:- NEWS G eneral News. The Financial Times London Page 30

============= Transaction # 209 ============================================== Transaction #: 209 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT944-5569 _AN-ELBDWAF4FT 9412 02 FT 02 DEC 94 / Commodities and Agriculture: EU to iss ue licences covering Windwards' banana losses By DEB ORAH HARGREAVES Additional licences for exports of bananas into the European Union market will be awarded on Monday to companies that s hip fruit from the Windward Islands. The European Commission has agreed that importers can substitute bananas from other sources to replace fruit in the Caribbean group that was damaged by September's tropical storm. The commiss ion has awarded 14,800 extra licences to St Lucia, 2,700 to Dominique, 5,900 to Guadeloupe and 30,000 to Martinique. These will be allocated to companie s shipping to the EU. Countries:- QRZ European Econo mic Community (EC). Industries:- P5148 Fresh Fruits and Vegetables. Types:- TECH Patents & Licences.

The Financial Times London Page 27 ============= Transaction # 210 ============================================== Transaction #: 210 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT932-930 _AN-DFYB8AGBFT 93062 5 FT 25 JUN 93 / Commodities and Agriculture: Divisions remain over tropical timber pact By FRANCES WILLIAMS GENEVA UNITED NATIONS-sponsored talks on a new tropical timber pact are due to end today with little progres s on key issues, despite initial optimism. A third round of negotiations on a successor to the 1983 International Tropical Timber Agreement, which expir es next March, is likely in two or three months' time. Consuming and produci ng countries are still split over the scope of a new agreement. Consumers ar e resisting producer calls to include temperate and boreal timber in the pac t. Producers complain that tropical timber is discriminated against in inter national trade because it has to satisfy stricter environmental criteria. Tr opical timber has been losing market share to temperate timber in recent yea rs, in part because of environmental concerns. At the beginning of the week- long talks, consumers put forward a three-pronged compromise plan that would keep temperate timber out of the agreement but commit consumer nations to a im at sustainable forest management for traded temperate wood. The plan also included language in the new agreement to bar trade discrimination against tropical timber as such and more finance for projects of benefit to producer nations. Producers then said they wanted consumer nations to take on enviro nmental commitments 'as clear and unambiguous' as those in the proposed trop ical timber agreement. If consumers have their way, the new accord will requ ire all traded tropical timber to come from sustainably managed forests by t he year 2000, a target already set by the International Tropical Timber Orga nisation. Although consumers have refined their proposals over the week, con ference sources said yesterday that they remained unacceptable to producers. Countries:- XCZ Latin America. XOZ Asia. Industries:- P0831 Forest Products. P2411 Logging. P 9611 Administration of General Economic Programs. Types:- < TP>NEWS General News. The Financial Times London P age 28 ============= Transaction # 211 ============================================== Transaction #: 211 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6038 _AN-CH1BVABKFT 9208 27 FT 27 AUG 92 / Hurricane batters southern US but lets insurers off lightly By MARTIN DICKSON and ROBERT P ESTON NEW YORK, LONDON HURRICANE Andrew, claimed to be the costliest natural disaster in US history, yesterda y smashed its way through the state of Louisiana, inflicting severe damage o n rural communities but narrowly missing the low-lying city of New Orleans. The storm, which brought havoc to southern Florida on Monday and then headed north-west across the Gulf of Mexico, had made landfall late on Tuesday nig ht some 60 miles south-west of the city in the agricultural Cajun country. A lthough the damage from the hurricane's landfall in Florida on Monday was mu ch greater than initially esti mated, insurers' losses there are likely to t otal less than Dollars 1bn, well below earlier expectations, a senior member of Lloyd's insurance market said yesterday. In Louisiana, the hurricane lan ded with wind speeds of about 120 miles per hour and caused severe damage in small coastal centres such as Morgan City, Franklin and New Iberia. Associa ted tornadoes devastated Laplace, 20 miles west of New Orleans. Then, howeve r, Andrew lost force as it moved north over land. By yesterday afternoon, it had been down-graded to tropical storm, in that its sustained windspeeds we re below 75 mph. Initial reports said at least one person had died, 75 been injured and thousands made homeless along the Louisiana coast, after 14 conf irmed deaths in Florida and three in the Bahamas. The storm caused little da mage to Louisiana's important oil-refining industry, although some plants ha d to halt production when electricity was cut. The Lloyd's member, in close contact with leading insurers in Florida, said that damage to insured proper ty was remarkably small. More than Dollars 15bn of damage may have been caus ed in all, but was mostly to uninsured property, he said. In north Miami, da mage is minimal. Worst affected is one hotel, whose basement was flooded. Mo st of the destruction occurred in a 10-mile band across Homestead, 25 miles to the south of Miami, where a typical house sells for Dollars 100,000 to Do llars 150,000. US insurers will face a bill in respect of such properties, b ut Lloyd's exposure there is minimal. Many destroyed power lines are thought to be uninsured, as are trees and shrubs uprooted across a wide area. Only one big hotel in that area has been badly damaged, a Holiday Inn. Across Flo rida, some 2m people remained without electric ity yesterday and health offi cials were warning the public to boil or chemically treat all water. Hurrica ne Hugo, which devastated much of South Carolina in 1989, cost the insurance industry some Dollars 4.2bn. Further uninsured losses may have raised the t otal to Dollars 6bn-Dollars 10bn. The Financial Times

London Page 6 ============= Transaction # 212 ============================================== Transaction #: 212 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 20 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: FT931-3466 _AN-DCPCCAD1FT 9303 16 FT 16 MAR 93 / Letter: Not so much tropical rainfores t From Prof GHILLEAN T PRANCE Sir, I should like to correct the alarmingly optimistic figure for the area of th is planet which is covered by tropical forest, given in your article, 'FAO c uts estimate of tropical forest loss' (March 9). This states that 37 per cen t of the planet is covered in tropical forest. It states correctly that, acc ording to FAO figures, 1.75bn hectares of tropical forest remain; however, t his is not 37 per cent of the planet. It is 3.4 per cent of the total area o f the planet and 11.6 per cent of the total land surface of the planet. More alarming for those of us trying to preserve the biodiversity of the species -rich tropical rainforest is that it has now been reduced to 0.83bn hectares , or only 5.5 per cent of the total land surface. There is no room for compl acency if we are to preserve this ecosystem which is so vital for the functi oning of our planet. Ghillean T Prance, director, Royal Botanic Gardens, Kew , Richmond, Surrey TW9 3AB Countries:- GBZ United Ki ngdom, EC. Industries:- P99 Nonclassifiable Establish ments. Types:- CMMT Comment & Analysis. The Financial Times London Page 20 ============= Transaction # 213 ============================================== Transaction #: 213 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 21 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: FT932-1763 _AN-DFVCUAF3FT 9306 22 FT 22 JUN 93 / Commodities and Agriculture: Delegates optimistic on timber pact By FRANCES WILLIAMS GENEVA NEGOTIATIONS ON a new Internati onal Tropical Timber Agreement resumed in Geneva yesterday, with both produc ing and consuming countries expressing optimism for progress in the week-lon g talks. The first session of talks in April ended in stalemate over produce r demands for temperate and boreal, as well as tropical timber, to be includ ed in the new agreement. Producing countries, the biggest being Malaysia, In donesia, Ivory Coast, Papua New Guinea and Brazil, say the present accord is discriminatory. The 1983 International Tropical Timber Agreement, which cam e into force in 1985 and expires in March next year, aims to balance economi c use of tropical timber with environmental needs through co-operation, cons ultation and research. It has no price-setting mechanisms. Consumers have pr essed for stronger environmental provisions, including a clear commitment to ensuring that by the year 2000 all tropical timber exports come from sustai nably managed forests. Producers do not want this target to be legally bindi ng and say similar commitments should be imposed on all internationally trad ed timber. Consumer countries continue to oppose the inclusion of temperate and boreal timber in any agreement. At a meeting of the International Tropic al Timber Council in Kuala Lumpur last month, however, they proposed three p oints for discussion in Geneva which they hope will allay producer concerns. In particular, consumers have suggested language in the new agreement that would bar discrimination against exports of tropical timber as such and ensu re the accord could not be used to justify trade curbs. Consumers have also offered to examine a shift to sustainable forest management for temperate ti mber and increased funds for projects in tropical producing countries to pro mote sustainable management and increased market transparency. The negotiati ons, sponsored by the United Nations Conference on Trade and Development, in volve some 50 countries accounting for virtually the whole Dollars 7.5bn a y ear trade in tropical timber. Unctad officials say that a final deal is unli kely this time. Countries:- CHZ Switzerland, West Eu rope. Industries:- P0811 Timber Tracts. P2411 Loggi ng. Types:- RES Natural resources. The Fina ncial Times London Page 34 ============= Transaction # 214 ============================================== Transaction #: 214 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-10917 _AN-CJ1BTAE7FT 921 028 FT 28 OCT 92 / Commodities and Agriculture: Demand f or timber remains in doldrums By FRANCES WILLIAMS GENEVA ECONOMIC recession and the d epressed construction market in many European countries continue to dampen d emand for timber and little recovery is seen over the coming year, according to a report from the timber committee of the United Nations Economic Commis sion for Europe. However, the North American market, fuelled by a revival in new housebuilding, is expected to show healthy growth this year and next. E uropean consumption of sawn softwood, which fell sharply in 1991, is expecte d to fall by a further 4.8 per cent in 1992 to 69.1m cubic metres, and then to stabilise in 1993 at about 69.5m cu m. However, production is projected t o rise by 0.8 per cent to 67m cu m in 1992 and by another 1.7 per cent next year. Despite a decline in imports and some rise in exports, weak demand has led to oversupply in many European sawn softwood markets, leading to fierce competition, low profitability and sawmill closures, the ECE says. This is likely to continue in the near term despite a steady fall in Russian exports outside the Commonwealth of Independent States. However, the ECE is predict ing a 5.9 per cent rise in North American sawn softwood demand to 122.4m cu m in 1992 and a 3.1 per cent rise in 1993. It also takes a more cheerful vie w of long-term European prospects, pointing to the strong latent demand for sawn softwood in eastern and central Europe, where there is a need to increa se and improve the housing stock. Developments in the markets for softwood l ogs in Europe are still marked by the consequences of the 1990 storm, which felled over 100m cu m, according to the report. It forecasts a slow rise in production in 1992 and 1993, while trade is expected to drop back to pre-sto rm levels. Nevertheless, the ECE says, large stocks of water-stored logs wil l continue to weigh on the market. Sawn hardwood consumption and production in Europe may decline slightly in 1992 to 18.4m and 14.5m cu m respectively, with little change in 1993. The ECE notes that European imports of tropical hardwoods have fallen significantly since 1989, in part reflecting campaign s by environmental groups to save tropical forests. In North America, consum ption and production of sawn hardwood are expected to increase by 5.5 to 5.7 per cent this year to 24.8m and 26.5m cu m respectively. The F inancial Times London Page 32 ============= Transaction # 215 ============================================== Transaction #: 215 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 23 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: FT934-16631 _AN-DJEC1AF7FT 931 005 FT 05 OCT 93 / Commodities and Agriculture: Tropical timber pact talks resume By FRANCES WILLIAMS GENEVA TROPICAL TIMBER producing and co nsuming countries yesterday began a third round of talks to try to agree a n ew international tropical timber accord, amid continuing divisions over its scope and financing. The present pact, adopted in 1983, expires at the end o f March next year. Informal talks since the second round of negotiations bro ke up in June have failed to resolve the differences between the two sides. Delegates were meeting last night to decide whether to extend the negotiatio ns, held under the auspices of the United Nations Conference on Trade and De velopment, from one week to two. Producing and consuming countries remain sp lit over producer demands that temperate timber should be included in the ne w accord. Producers are also insisting on additional financial help to meet the proposed stipulation that by the year 2000 all tropical timber exports s hould come from sustainably managed forests. This target was set two years a go by the International Tropical Timber Organisation which runs the 1983 pac t. Tropical timber producers, which have already lost international market s hare to temperate woods because of environmental concerns, argue that export ers of temperate timber should be subjected to the same conservation discipl ines through inclusion in the treaty. The present accord has 50 producer and consumer members accounting for between 80 and 90 per cent of the Dollars 7 .5bn annual world tropical timber trade. Countries:- XAZ World. Industries:- P0811 Timber Tracts. P241 1 Logging. Types:- NEWS General News. The F inancial Times London Page 30 ============= Transaction # 216 ============================================== Transaction #: 216 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-9315 _AN-CKFB8ABYFT 9211 06 FT 06 NOV 92 / Asean condemns timber labelling By FRANCES WILLIAMS GENEVA THE Association of South East Asian Nations (Asean) has attacked Austria's labelling scheme for tropical timber as 'unilateral and discrimin atory' and called for the scheme to be rescinded. In an attempt to gain inte rnational backing and forestall other countries following Austria's lead, th e Asean countries (Indonesia, Malaysia, Philippines, Singapore and Thailand) raised the issue at this week's meeting of the governing council of the Gen eral Agreement on Tariffs and Trade (Gatt). Canada and a number of developin g country timber exporters spoke in Asean's support. Asean claims that the A ustrian action is contrary to Gatt rules, because it discriminates against t ropical timber and will have the effect of inhibiting trade. Austria is the first country to introduce a mandatory tropical timber labelling scheme, whi ch came into force in September. The labels indicate whether a product conta ins tropical timber. The law also envisages a quality mark for timber and ti mber products from sustainably managed forests. The case is the latest in a growing number of disputes over the legitimacy of trade measures to promote environmental objectives. Gatt rules in this area are ambiguous, though a Ga tt dispute panel judgment last year (against a US ban on tuna imports from c ountries whose fishing fleets killed too many dolphins) said countries could not unilaterally impose environmental standards on others. Noting that Aust ria is itself an important timber producer and exporter, Asean argues the la belling scheme helps domestic producers by encouraging consumers to switch f rom products made of tropical woods to those using temperate timber. Austria 's Gatt representative yesterday denied that the new regulations were protec tionist, and said they arose solely out of concern to promote the sustainabl e management of tropical forests. Asean claims that, by depressing demand fo r tropical timber and thus its value, labelling will tend to increase rather than reduce the pace of forest destruction. Other countries, including the Netherlands, are considering mandatory labelling schemes for tropical timber . The Financial Times London Page 4 ============= Transaction # 217 ============================================== Transaction #: 217 Transaction Code: 6 (Direct Rank Search) Terminal ID: 12781888 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: Mon Aug 23 12:37:04 1999 Rec. Format: Short Time Cmd Complete: Mon Aug 23 12:37:04 1999 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 @ {hurricanes typoons})" ============= Transaction # 218 ============================================== Transaction #: 218 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 219 ============================================== Transaction #: 219 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-5267 _AN-CIDBKACDFT 9209 02 FT 02 SEP 92 / Hurricane insurers expect record claim s By NIKKI TAIT NEW YORK US INSURERS expect to pay out an estimated Dollars 7.3bn (Po unds 3.7bn) in Florida as a result of Hurricane Andrew - by far the costlies t disaster the industry has ever faced. The figure is the first official tal ly of the damage resulting from the hurricane, which ripped through southern Florida last week. In the battered region it is estimated that 275,000 peop le still have no electricity and at least 150,000 are either homeless or are living amid ruins. President George Bush yesterday made his second visit to the region since the hurricane hit. He pledged the government would see thr ough the clean-up 'until the job is done'. Although there had already been s ome preliminary guesses at the level of insurance claims, yesterday's figure comes from the Property Claims Services division of the American Insurance Services Group, the property-casualty insurers' trade association. It follow s an extensive survey of the area by the big insurance companies. Mr Gary Ke rney, director of catastrophe services at the PCS, said the industry was exp ecting about 685,000 claims in Florida alone. It is reckoned the bulk of the damage - over Dollars 6bn in insured claims - is in Dade County, a rural re gion to the south of Miami. However, the final cost of Hurricane Andrew will be higher still. Yesterday's estimate does not include any projection for c laims in Louisiana, which was also affected by the storm, although less seve rely than Florida. An estimate of the insured losses in this second state wi ll be released later this week. But on the Florida losses alone, Hurricane A ndrew becomes the most costly insured catastrophe in the US. Hurricane Hugo, which hit the east coast in September 1989, cost the insurance industry abo ut Dollars 4.2bn. The Oakland fire disaster, in California last year, cost D ollars 1.2bn. By contrast, insurance claims resulting from the Los Angeles r iots earlier this year - the most expensive civil disturbance in the US - to talled just Dollars 775m. Hurricane Andrew leaves the US property-casualty i nsurers facing their worst-ever year for catastrophe losses. The LA riots an d a series of tornadoes, wind and hailstorms in states such as Kansas, Oklah oma and Iowa had already produced insured losses of Dollars 3.9bn. With Flor ida's Hurricane Andrew losses added in, the total rises to Dollars 11.2bn. T his easily exceeds the record Dollars 7.6bn of catastrophe losses seen in 19 89, when the industry paid out on both Hurricane Hugo and the Loma Prieta ea rthquake in California. Wall Street, however, has reacted calmly to the reco rd losses expected, and insurers' shares - although lower initially - have b een firming recently. The property-casualty industry is thought to have adeq uate reserves to cover the disaster. The Financial Times London Page 14 ============= Transaction # 220 ============================================== Transaction #: 220 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-6136 _AN-DH4CVABAFT 9308 31 FT 31 AUG 93 / Hurricane alarm By AGENCIES About 150,000 people left islands off North C arolina as Hurricane Emily swept in from the Atlantic towards the US east co ast yesterday, agencies report. The National Hurricane Centre in Florida iss ued a hurricane watch for the coast from mid-South Carolina to the Delaware border. Countries:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times London Page 4 ============= Transaction # 221 ============================================== Transaction #: 221 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-5267 _AN-CIDBKACDFT 9209 02 FT 02 SEP 92 / Hurricane insurers expect record claim s By NIKKI TAIT NEW YORK US INSURERS expect to pay out an estimated Dollars 7.3bn (Po unds 3.7bn) in Florida as a result of Hurricane Andrew - by far the costlies t disaster the industry has ever faced. The figure is the first official tal ly of the damage resulting from the hurricane, which ripped through southern Florida last week. In the battered region it is estimated that 275,000 peop le still have no electricity and at least 150,000 are either homeless or are living amid ruins. President George Bush yesterday made his second visit to the region since the hurricane hit. He pledged the government would see thr ough the clean-up 'until the job is done'. Although there had already been s ome preliminary guesses at the level of insurance claims, yesterday's figure comes from the Property Claims Services division of the American Insurance Services Group, the property-casualty insurers' trade association. It follow s an extensive survey of the area by the big insurance companies. Mr Gary Ke rney, director of catastrophe services at the PCS, said the industry was exp ecting about 685,000 claims in Florida alone. It is reckoned the bulk of the damage - over Dollars 6bn in insured claims - is in Dade County, a rural re gion to the south of Miami. However, the final cost of Hurricane Andrew will be higher still. Yesterday's estimate does not include any projection for c laims in Louisiana, which was also affected by the storm, although less seve rely than Florida. An estimate of the insured losses in this second state wi ll be released later this week. But on the Florida losses alone, Hurricane A ndrew becomes the most costly insured catastrophe in the US. Hurricane Hugo, which hit the east coast in September 1989, cost the insurance industry abo ut Dollars 4.2bn. The Oakland fire disaster, in California last year, cost D ollars 1.2bn. By contrast, insurance claims resulting from the Los Angeles r iots earlier this year - the most expensive civil disturbance in the US - to talled just Dollars 775m. Hurricane Andrew leaves the US property-casualty i nsurers facing their worst-ever year for catastrophe losses. The LA riots an d a series of tornadoes, wind and hailstorms in states such as Kansas, Oklah oma and Iowa had already produced insured losses of Dollars 3.9bn. With Flor ida's Hurricane Andrew losses added in, the total rises to Dollars 11.2bn. T his easily exceeds the record Dollars 7.6bn of catastrophe losses seen in 19 89, when the industry paid out on both Hurricane Hugo and the Loma Prieta ea rthquake in California. Wall Street, however, has reacted calmly to the reco rd losses expected, and insurers' shares - although lower initially - have b een firming recently. The property-casualty industry is thought to have adeq uate reserves to cover the disaster. The Financial Times London Page 14 ============= Transaction # 222 ============================================== Transaction #: 222 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-5267 _AN-CIDBKACDFT 9209 02 FT 02 SEP 92 / Hurricane insurers expect record claim s By NIKKI TAIT NEW YORK US INSURERS expect to pay out an estimated Dollars 7.3bn (Po unds 3.7bn) in Florida as a result of Hurricane Andrew - by far the costlies t disaster the industry has ever faced. The figure is the first official tal ly of the damage resulting from the hurricane, which ripped through southern Florida last week. In the battered region it is estimated that 275,000 peop le still have no electricity and at least 150,000 are either homeless or are living amid ruins. President George Bush yesterday made his second visit to the region since the hurricane hit. He pledged the government would see thr ough the clean-up 'until the job is done'. Although there had already been s ome preliminary guesses at the level of insurance claims, yesterday's figure comes from the Property Claims Services division of the American Insurance Services Group, the property-casualty insurers' trade association. It follow s an extensive survey of the area by the big insurance companies. Mr Gary Ke rney, director of catastrophe services at the PCS, said the industry was exp ecting about 685,000 claims in Florida alone. It is reckoned the bulk of the damage - over Dollars 6bn in insured claims - is in Dade County, a rural re gion to the south of Miami. However, the final cost of Hurricane Andrew will be higher still. Yesterday's estimate does not include any projection for c laims in Louisiana, which was also affected by the storm, although less seve rely than Florida. An estimate of the insured losses in this second state wi ll be released later this week. But on the Florida losses alone, Hurricane A ndrew becomes the most costly insured catastrophe in the US. Hurricane Hugo, which hit the east coast in September 1989, cost the insurance industry abo ut Dollars 4.2bn. The Oakland fire disaster, in California last year, cost D ollars 1.2bn. By contrast, insurance claims resulting from the Los Angeles r iots earlier this year - the most expensive civil disturbance in the US - to talled just Dollars 775m. Hurricane Andrew leaves the US property-casualty i nsurers facing their worst-ever year for catastrophe losses. The LA riots an d a series of tornadoes, wind and hailstorms in states such as Kansas, Oklah oma and Iowa had already produced insured losses of Dollars 3.9bn. With Flor ida's Hurricane Andrew losses added in, the total rises to Dollars 11.2bn. T his easily exceeds the record Dollars 7.6bn of catastrophe losses seen in 19 89, when the industry paid out on both Hurricane Hugo and the Loma Prieta ea rthquake in California. Wall Street, however, has reacted calmly to the reco rd losses expected, and insurers' shares - although lower initially - have b een firming recently. The property-casualty industry is thought to have adeq uate reserves to cover the disaster. The Financial Times London Page 14 ============= Transaction # 223 ============================================== Transaction #: 223 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-5267 _AN-CIDBKACDFT 9209 02 FT 02 SEP 92 / Hurricane insurers expect record claim s By NIKKI TAIT NEW YORK US INSURERS expect to pay out an estimated Dollars 7.3bn (Po unds 3.7bn) in Florida as a result of Hurricane Andrew - by far the costlies t disaster the industry has ever faced. The figure is the first official tal ly of the damage resulting from the hurricane, which ripped through southern Florida last week. In the battered region it is estimated that 275,000 peop le still have no electricity and at least 150,000 are either homeless or are living amid ruins. President George Bush yesterday made his second visit to the region since the hurricane hit. He pledged the government would see thr ough the clean-up 'until the job is done'. Although there had already been s ome preliminary guesses at the level of insurance claims, yesterday's figure comes from the Property Claims Services division of the American Insurance Services Group, the property-casualty insurers' trade association. It follow s an extensive survey of the area by the big insurance companies. Mr Gary Ke rney, director of catastrophe services at the PCS, said the industry was exp ecting about 685,000 claims in Florida alone. It is reckoned the bulk of the damage - over Dollars 6bn in insured claims - is in Dade County, a rural re gion to the south of Miami. However, the final cost of Hurricane Andrew will be higher still. Yesterday's estimate does not include any projection for c laims in Louisiana, which was also affected by the storm, although less seve rely than Florida. An estimate of the insured losses in this second state wi ll be released later this week. But on the Florida losses alone, Hurricane A ndrew becomes the most costly insured catastrophe in the US. Hurricane Hugo, which hit the east coast in September 1989, cost the insurance industry abo ut Dollars 4.2bn. The Oakland fire disaster, in California last year, cost D ollars 1.2bn. By contrast, insurance claims resulting from the Los Angeles r iots earlier this year - the most expensive civil disturbance in the US - to talled just Dollars 775m. Hurricane Andrew leaves the US property-casualty i nsurers facing their worst-ever year for catastrophe losses. The LA riots an d a series of tornadoes, wind and hailstorms in states such as Kansas, Oklah oma and Iowa had already produced insured losses of Dollars 3.9bn. With Flor ida's Hurricane Andrew losses added in, the total rises to Dollars 11.2bn. T his easily exceeds the record Dollars 7.6bn of catastrophe losses seen in 19 89, when the industry paid out on both Hurricane Hugo and the Loma Prieta ea rthquake in California. Wall Street, however, has reacted calmly to the reco rd losses expected, and insurers' shares - although lower initially - have b een firming recently. The property-casualty industry is thought to have adeq uate reserves to cover the disaster. The Financial Times London Page 14 ============= Transaction # 224 ============================================== Transaction #: 224 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-6136 _AN-DH4CVABAFT 9308 31 FT 31 AUG 93 / Hurricane alarm By AGENCIES About 150,000 people left islands off North C arolina as Hurricane Emily swept in from the Atlantic towards the US east co ast yesterday, agencies report. The National Hurricane Centre in Florida iss ued a hurricane watch for the coast from mid-South Carolina to the Delaware border. Countries:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times London Page 4 ============= Transaction # 225 ============================================== Transaction #: 225 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-6136 _AN-DH4CVABAFT 9308 31 FT 31 AUG 93 / Hurricane alarm By AGENCIES About 150,000 people left islands off North C arolina as Hurricane Emily swept in from the Atlantic towards the US east co ast yesterday, agencies report. The National Hurricane Centre in Florida iss ued a hurricane watch for the coast from mid-South Carolina to the Delaware border. Countries:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times London Page 4 ============= Transaction # 226 ============================================== Transaction #: 226 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-6136 _AN-DH4CVABAFT 9308 31 FT 31 AUG 93 / Hurricane alarm By AGENCIES About 150,000 people left islands off North C arolina as Hurricane Emily swept in from the Atlantic towards the US east co ast yesterday, agencies report. The National Hurricane Centre in Florida iss ued a hurricane watch for the coast from mid-South Carolina to the Delaware border. Countries:- USZ United States of America. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Natural resources. The Financial Times London Page 4 ============= Transaction # 227 ============================================== Transaction #: 227 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-3529 _AN-CIKCNADLFT 9209 11 FT 11 SEP 92 / Early hurricane claims to Lloyd's put at Pounds 500m By RICHARD LAPPER LO SSES FROM Hurricane Andrew are expected to cost the Lloyd's non-marine under writers less than Pounds 500m, a senior underwriter said yesterday. Mr Georg e Lloyd-Roberts, chairman of the Lloyd's Non-marine Underwriters' Associatio n, said overall insured losses on land from the hurricane, which late last m onth devastated parts of Florida and Louisiana, would probably amount to bet ween Dollars 7bn (Pounds 3.55bn) and Dollars 8bn. Losses offshore, sustained as a result of damage to oil rigs, for example, will also affect Lloyd's, a lthough marine underwriters have yet to provide estimates of potential losse s. Although reinsurers are likely to pay Dollars 6bn of the loss, Lloyd's un derwriters are expecting to pay no more than 15 per cent of that amount, lea ving them with maximum losses of Dollars 900m. Mr Lloyd-Roberts said Lloyd's was less exposed to Hurricane Andrew than it was to Hurricane Hugo, which c aused claims of more than Dollars 5bn in 1989. US insurers had bought less r einsurance after rate increases. In addition, the spiral reinsurance market, in which Lloyd's syndicates and companies reinsure each other's high-level catastrophe exposures, had collapsed. The market would be able to gauge the extent of claims from Andrew much more quickly than with Hurricane Hugo. 'We 're looking at a finite situation,' Mr Lloyd-Roberts said. 'We know how much reinsurance the US companies have bought.' By September 9, London market re insurers had paid claims of Dollars 152m. Lloyd's underwriters had paid out Dollars 72.96m. Lloyd's said yesterday it hoped that 'loss review' investiga tions into syndicates that were overwhelmed by claims from Hurricane Hugo an d other catastrophes between 1987 and 1990 might be ready in the next few we eks. A loss review team investigating the losses of two of those syndicates - 216 and 833/834, which were managed by the Devonshire agency - issued an i nterim report last month. The report said that Names - the individuals whose assets support Lloyd's underwriting - on syndicate 216 had already received cash calls amounting to Pounds 56.86m for 1989 and Pounds 14.14m for 1990, while those on syndicate 833/834 had been asked to pay Pounds 21.73m in 1989 and Pounds 11.04m in 1990. Separately, the Lloyd's council has approved new regulations that will allow syndicates to make greater use of quota share r einsurance bought from outside the Lloyd's market. Syndicates will be able t o underwrite up to 125 per cent of their premium income limit (the maximum a mount of premiums they are allowed to underwrite) if they have re-insurance in place to cover all premiums above 100 per cent. The arrangement will allo w syndicates to underwrite more business at a time of rising premium rates. The Financial Times London Page 8 ============= Transaction # 228 ============================================== Transaction #: 228 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-3529 _AN-CIKCNADLFT 9209 11 FT 11 SEP 92 / Early hurricane claims to Lloyd's put at Pounds 500m By RICHARD LAPPER LO SSES FROM Hurricane Andrew are expected to cost the Lloyd's non-marine under writers less than Pounds 500m, a senior underwriter said yesterday. Mr Georg e Lloyd-Roberts, chairman of the Lloyd's Non-marine Underwriters' Associatio n, said overall insured losses on land from the hurricane, which late last m onth devastated parts of Florida and Louisiana, would probably amount to bet ween Dollars 7bn (Pounds 3.55bn) and Dollars 8bn. Losses offshore, sustained as a result of damage to oil rigs, for example, will also affect Lloyd's, a lthough marine underwriters have yet to provide estimates of potential losse s. Although reinsurers are likely to pay Dollars 6bn of the loss, Lloyd's un derwriters are expecting to pay no more than 15 per cent of that amount, lea ving them with maximum losses of Dollars 900m. Mr Lloyd-Roberts said Lloyd's was less exposed to Hurricane Andrew than it was to Hurricane Hugo, which c aused claims of more than Dollars 5bn in 1989. US insurers had bought less r einsurance after rate increases. In addition, the spiral reinsurance market, in which Lloyd's syndicates and companies reinsure each other's high-level catastrophe exposures, had collapsed. The market would be able to gauge the extent of claims from Andrew much more quickly than with Hurricane Hugo. 'We 're looking at a finite situation,' Mr Lloyd-Roberts said. 'We know how much reinsurance the US companies have bought.' By September 9, London market re insurers had paid claims of Dollars 152m. Lloyd's underwriters had paid out Dollars 72.96m. Lloyd's said yesterday it hoped that 'loss review' investiga tions into syndicates that were overwhelmed by claims from Hurricane Hugo an d other catastrophes between 1987 and 1990 might be ready in the next few we eks. A loss review team investigating the losses of two of those syndicates - 216 and 833/834, which were managed by the Devonshire agency - issued an i nterim report last month. The report said that Names - the individuals whose assets support Lloyd's underwriting - on syndicate 216 had already received cash calls amounting to Pounds 56.86m for 1989 and Pounds 14.14m for 1990, while those on syndicate 833/834 had been asked to pay Pounds 21.73m in 1989 and Pounds 11.04m in 1990. Separately, the Lloyd's council has approved new regulations that will allow syndicates to make greater use of quota share r einsurance bought from outside the Lloyd's market. Syndicates will be able t o underwrite up to 125 per cent of their premium income limit (the maximum a mount of premiums they are allowed to underwrite) if they have re-insurance in place to cover all premiums above 100 per cent. The arrangement will allo w syndicates to underwrite more business at a time of rising premium rates. The Financial Times London Page 8 ============= Transaction # 229 ============================================== Transaction #: 229 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-3529 _AN-CIKCNADLFT 9209 11 FT 11 SEP 92 / Early hurricane claims to Lloyd's put at Pounds 500m By RICHARD LAPPER LO SSES FROM Hurricane Andrew are expected to cost the Lloyd's non-marine under writers less than Pounds 500m, a senior underwriter said yesterday. Mr Georg e Lloyd-Roberts, chairman of the Lloyd's Non-marine Underwriters' Associatio n, said overall insured losses on land from the hurricane, which late last m onth devastated parts of Florida and Louisiana, would probably amount to bet ween Dollars 7bn (Pounds 3.55bn) and Dollars 8bn. Losses offshore, sustained as a result of damage to oil rigs, for example, will also affect Lloyd's, a lthough marine underwriters have yet to provide estimates of potential losse s. Although reinsurers are likely to pay Dollars 6bn of the loss, Lloyd's un derwriters are expecting to pay no more than 15 per cent of that amount, lea ving them with maximum losses of Dollars 900m. Mr Lloyd-Roberts said Lloyd's was less exposed to Hurricane Andrew than it was to Hurricane Hugo, which c aused claims of more than Dollars 5bn in 1989. US insurers had bought less r einsurance after rate increases. In addition, the spiral reinsurance market, in which Lloyd's syndicates and companies reinsure each other's high-level catastrophe exposures, had collapsed. The market would be able to gauge the extent of claims from Andrew much more quickly than with Hurricane Hugo. 'We 're looking at a finite situation,' Mr Lloyd-Roberts said. 'We know how much reinsurance the US companies have bought.' By September 9, London market re insurers had paid claims of Dollars 152m. Lloyd's underwriters had paid out Dollars 72.96m. Lloyd's said yesterday it hoped that 'loss review' investiga tions into syndicates that were overwhelmed by claims from Hurricane Hugo an d other catastrophes between 1987 and 1990 might be ready in the next few we eks. A loss review team investigating the losses of two of those syndicates - 216 and 833/834, which were managed by the Devonshire agency - issued an i nterim report last month. The report said that Names - the individuals whose assets support Lloyd's underwriting - on syndicate 216 had already received cash calls amounting to Pounds 56.86m for 1989 and Pounds 14.14m for 1990, while those on syndicate 833/834 had been asked to pay Pounds 21.73m in 1989 and Pounds 11.04m in 1990. Separately, the Lloyd's council has approved new regulations that will allow syndicates to make greater use of quota share r einsurance bought from outside the Lloyd's market. Syndicates will be able t o underwrite up to 125 per cent of their premium income limit (the maximum a mount of premiums they are allowed to underwrite) if they have re-insurance in place to cover all premiums above 100 per cent. The arrangement will allo w syndicates to underwrite more business at a time of rising premium rates. The Financial Times London Page 8 ============= Transaction # 230 ============================================== Transaction #: 230 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6560 _AN-CHZBBAAWFT 9208 24 FT 24 AUG 92 / Florida braced for Hurricane Andrew By AGENCIES HURRICANE ANDREW ripped i nto the Bahamas with winds reaching 150 miles an hour yesterday, while the p eople of Florida began evacuating coastal areas amid fears the hurricane wou ld arrive at daybreak today, Agencies report. Britain announced it was sendi ng a frigate and a supply ship to the Bahamas in case they were needed to he lp with relief operations. In Florida, Governor Lawton Chiles declared a sta te of emergency, allowing for more than 1m people to be moved to safer groun d and putting the National Guard and other emergency state agencies on alert . The Financial Times London Page 3 ============= Transaction # 231 ============================================== Transaction #: 231 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-12079 _AN-CJVB5AEXFT 921 022 FT 22 OCT 92 / UK Company News: US insurers see Doll ars 10.2bn hurricane payout By NIKKI TAIT NEW YORK THE US insurance industry expects to pay out Dollars 10.2bn in claims to victims of Hurricane Andrew, which ri pped through southern Florida and Louisiana in late August. The new estimate , released yesterday by the Property Claims Services division of the America n Insurance Service Group, an industry trade association, represents an incr ease from the original assessment of Dollars 7.8bn. Even then, Hurricane And rew was by far the most costly catastrophe which the US property-casualty in surance sector has faced. Many Wall Street analysts are suggesting the scale of the losses could prompt a turn in the US property-casualty industry cycl e which would allow insurance companies to push up rates and move closer to making underwriting profits. The revised estimate for the losses seems likel y to support this view. One reason for believing the insurance cycle should turn following the Hurricane Andrew losses is that property-casualty insurer s are believed to be carrying lower levels of catastrophe reinsurance than t hey were a few years ago. Some analysts suggest perhaps 20 to 30 per cent of bill may be passed on to reinsurers, rather than the traditional 30 to 40 p er cent. The Financial Times London Page 24 ============= Transaction # 232 ============================================== Transaction #: 232 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6455 _AN-CHZBXAACFT 9208 25 FT 25 AUG 92 / US insurers face heaviest hurricane da mage claims By MARTIN DICKSON and NORMA COHEN NEW YORK, LONDON US CITIES along the Gu lf of Mexico from Alabama to eastern Texas were on storm watch last night as Hurricane Andrew headed west after sweeping across southern Florida, causin g at least eight deaths and severe property damage. The hurricane was one of the fiercest in the US in decades and the first to hit Miami directly in a quarter of a century. In the Bahamas, government spokesman Mr Jimmy Curry sa id four deaths had been reported on outlying eastern islands. Mr Justin Balc ombe, of UK-based insurance adjuster Balcombe Group, said total losses could exceed Dollars 15bn if business interruption claims were taken into account . That compares with the Dollars 4bn-Dollars 6n (Pounds 2.1bn-Pounds 3.1bn) of insurance industry losses caused by the last big US hurricane, Hugo, whic h hit South Carolina in 1989. The brunt of the losses are likely to be conce ntrated among US insurers, industry analysts said yesterday. Mr George Lloyd -Roberts, chairman of Lloyd's Underwriters' Non-Marine Association, said tha t, unless damage claims exceeded Pounds 3bn, the Lloyd's insurance market wo uld feel little impact. Because the reinsurance of reinsurance risk - known as the retrocession market - has shrunk considerably in recent years, US i nsurers have placed far fewer of their risks through Lloyd's. Mr Roger Hill, insurance analyst at Warburg Securities, said he estimated that mainline UK insurers faced no more than Pounds 75m in damage claims so far. 'At the mom ent we are relaxed about it,' he said. The real question, he added, is the l evel of reinsurance available to the UK underwriters. Royal Insurance estima ted the company's losses at no more than Pounds 20m. Among other UK insurers , Mr Hill estimated that General Accident may face losses of up to Pounds 30 m, while Guardian Royal Exchange faced Pounds 5m and Sun Alliance and Commer cial Union Pounds 10m each. However, Hurricane Andrew gathered fresh strengt h as it moved across the Gulf of Mexico and there was concern last night tha t it might head towards New Orleans, which is especially low lying and could suffer severe flood damage. Scientists said the storm could make landfall a nywhere between the Alabama port of Mobile and the Louisiana-Texas border, p robably tomorrow night or early Thursday. It could threaten the large concen tration of offshore oil production facilities in the Gulf of Mexico. Shell O il was evacuating most of the 900 workers on its offshore platforms as a pre caution. A substantial part of America's oil refining industry is concentrat ed on the Gulf coast, in Louisiana and Texas, and officials there were revie wing emergency plans to curtail or shut down plant operations. Andrew, the f irst Caribbean hurricane of the season, hit the eastern coast of Florida ear ly yesterday, gusting up to 165mph. It ripped roofs off houses, smashed cars and trucks, snapped power lines and uprooted trees before heading out over the Gulf. A million people had been ordered to flee their homes in southern Florida as the hurricane moved in from the Bahamas on Sunday. The Florida Po wer and Light company said that about 1.2m of its customers, or 32 per cent, were without power. Some of the strongest winds were in the affluent suburb of Coral Gables, just south of Miami, where the National Hurricane Center i s located. Its radar and satellite antennae were blown away. President Bush authorised federal disaster assistance for the affected areas and made plans for an inspection tour of the state. Picture, Page 14 The Fina ncial Times London Page 1 ============= Transaction # 233 ============================================== Transaction #: 233 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-5835 _AN-CIBBCABPFT 9208 28 FT 28 AUG 92 / UK Company News: GA says hurricane cla ims could reach 'up to Dollars 40m' By ROBERT PESTON GENERAL ACCIDENT, the leading British insurer, said yester day that insurance claims arising from Hurricane Andrew could 'cost it as mu ch as Dollars 40m.' Lord Airlie, the chairman who was addressing an extraord inary shareholders' meeting, said: 'On the basis of emerging information, Ge neral Accident advise that the losses to their US operations arising from Hu rricane Andrew, which struck Florida and Louisiana, might in total reach the level at which external catastrophe reinsurance covers would become exposed '. What this means is that GA is able to pass on its losses to external rein surers once a certain claims threshold has been breached. It believes this t hreshold may be breached in respect of Hurricane Andrew claims. However, if this happens, it would suffer a post-tax loss of Dollars 40m (Pounds 20m). M r Nelson Robertson, GA's chief general manager, explained later that the com pany has a 1/2 per cent share of the Florida market. It has a branch in Orl ando. The company's loss adjusters are in the area trying to estimate the lo sses. Their guess is that losses to be faced by all insurers may total more than Dollars 8bn. Not all damaged property in the area is insured and there have been estimates that the storm caused more than Dollars 20bn of damage. However, other insurers have estimated that losses could be as low as Dollar s 1bn in total. Mr Robertson said: 'No one knows at this time what the exact loss is'. The Financial Times London Page 16

============= Transaction # 234 ============================================== Transaction #: 234 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 8 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: FT923-6582 _AN-CHZBBAAAFT 9208 24 FT 24 AUG 92 / World News in Brief: Hurricane Andrew Potentially the most powerful hurricane to reach Florida since 1935, was expected to hit Miami at dawn today. A million coastal resid ents began evacuating yesterday. The Financial Times London Page 1 ============= Transaction # 235 ============================================== Transaction #: 235 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 9 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: FT924-9889 _AN-CKCCTAF5FT 9211 03 FT 03 NOV 92 / International Company News: Cigna stay s in the black despite hurricane losses By NIKKI TAI T NEW YORK CIGNA, one of the bigg est composite insurers in the US, yesterday unveiled a large drop in third-q uarter earnings, but was profitable despite heavy losses from Hurricane Andr ew which ravaged southern Florida and Louisiana in August. Cigna said after- tax profits for the three months to end-September totalled Dollars 55m, down from Dollars 123m a year ago, with realised investment gains contributing D ollars 52m (Dollars 10m). The third-quarter results reflected catastrophe lo sses of Dollars 139m, before tax, of which Dollars 131m came from Hurricanes Andrew and Iniki. In the same three months of 1991, Cigna's catastrophe los ses were Dollars 17m. As a result of these losses, Cigna's property-casualty division produced a Dollars 270m deficit for the quarter, despite after-tax investment gains of Dollars 29m against a Dollars 5m profit, including afte r-tax investment gains of Dollars 7m, in the same period in 1991. However, t he company added that its other three divisions had 'strong' earnings in the third quarter, and - although some analysts had predicted that realised in vestment gains would keep the company in the black despite the hurricane los ses - the shares gained Dollars 1 1/8 yesterday at Dollars 52 1/2 . Cigna i s now showing after-tax profits of Dollars 286m for the first nine months of the year, including realised investment gains of Dollars 122m. At the same stage in 1991, the figure was Dollars 341m, helped by realised investment ga ins of Dollars 51m. The Financial Times London Pa ge 27 ============= Transaction # 236 ============================================== Transaction #: 236 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-3525 _AN-DINC7AA0FT 9309 14 FT 14 SEP 93 / Hurricane Lydia heads for Mexico By AP MEXICO CITY Hurricane Lydia, gusting at up to 125 mph, was yesterday headed towards Mexico's Pacific coast, threatening flimsy homes and poor neighbourhoods fro m Tepic to Los Mochis, AP reports from Mexico City. The National Water Commi ssion, which tracks storms, said on Sunday the hurricane was 'extremely dang erous' and issued an alert for coastal areas 400 miles south of the US borde r. Thousands fled their homes as Lydia lashed the west coast of Mexico early yesterday with strong winds and heavy rain. Officials in the state of Sinal oa were evacuating residents from low-lying areas in anticipation of heavy f looding. Police said an estimated 30,000 people in the Mazatlan area left th eir homes on Sunday night as the storm approached. Countries:- MXZ Mexico. Industries:- P9229 Public Order and Safety, NEC. Types:- RES Pollution. The Financial Times London Page 4 ============= Transaction # 237 ============================================== Transaction #: 237 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6110 _AN-CH0BVADPFT 9208 26 FT 26 AUG 92 / Hurricane damage put at Dollars 20bn a s 2m people told to leave homes By MARTIN DICKSON an d NORMA COHEN NEW YORK, LONDON DA MAGE CAUSED by Hurricane Andrew could rise to Dollars 20bn, it was estimated yesterday, as one of the costliest US storms this century threatened a furt her devastating landfall near the city of New Orleans. Government officials in Louisiana, Mississippi and Texas yesterday advised or ordered more than 2 m people to evacuate coastal areas. The hurricane tore through southern Flor ida early on Monday morning, causing billions of dollars of property damage and at least 12 deaths, and yesterday was moving north-west across the Gulf of Mexico with winds of about 140 miles an hour. At least three people died on Sunday when Hurricane Andrew crossed the Bahamas. Ms Kate Hale, director of emergency services in Florida's Dade County, which bore the brunt of the storm, estimated that Andrew had already caused Dollars 15bn to Dollars 20bn (Pounds 7.5bn-Pounds 10bn) of damage. However, insurance industry analysts cautioned that it was too early to assess the costs accurately. The US indus try's Property Claims Service, the official compiler of disaster losses, had yet to compile a preliminary tally of the Florida bill. A hurricane warning was in effect yesterday along 470 miles of Gulf coast from Pascagoula, Miss issippi, to Galvestone, Texas. Several forecasting agencies suggested the li keliest landfall was in central Louisiana, to the west of New Orleans, possi bly late last night or this morning. New Orleans, with a population of 1.6m, is particularly vulnerable because the city lies below sea level, has the M ississippi River running through its centre and a large lake immediately to the north. Much of America's oil refining industry is concentrated along coa stal Texas and Louisiana and several refineries were yesterday partially shu t down. These included British Petroleum's Belle Chasse plant in Louisiana. In Florida, Andrew caused greatest havoc in a largely suburban swathe some 1 0-15 miles south of Miami. The town of Homestead, near the centre of the sto rm, was largely flattened, including a local air force base. Miami's city ce ntre escaped with relatively light damage. More than 24 hours after the hurr icane, some 825,000 households and businesses were still without power. The brunt of insurance claims from the Florida storm will fall on the US industr y, and companies with a heavy local exposure include the State Farm Group an d the Allstate Insurance unit of Sears Roebuck. These are also the leading p roperty/casualty and home insurance groups in Louisiana, together with Ameri can International Group. A spokesman for State Farm Insurance said he believ ed the company had roughly 20 per cent of the Florida market. The mutually-o wned company has no reinsurance. Its size has made obtaining reinsurance cov er difficult and its reserves, at about Dollars 24bn, have made it unnecessa ry. According to Balcombe Group, a UK-based claims adjustment firm, other in surers with large exposure in the hurricane-hit area are Hartford Insurance, Aetna and Travellers. Travellers said it had flown 50 claims adjusters in t o Florida late on Monday and was assessing losses. About 12 per cent of Trav ellers' home insurance premium income came from Florida last year, and 4.6 p er cent of its commercial insurance premiums. The last serious US hurricane, Hugo, which struck South Carolina in 1989, cost the industry Dollars 4.2bn from insured losses, though estimates of the total damage caused ranged betw een Dollars 6bn and Dollars 10bn. The Financial Times

London Page 14 ============= Transaction # 238 ============================================== Transaction #: 238 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6592 _AN-CHZBXAFGFT 9208 24 FT 24 AUG 92 / World News In Brief: Hurricane hits Ba hamas Hurricane Andrew tore across the Bahamas with 150mp h winds. Four people were reported killed. About a million south Florida res idents were ordered to leave their homes as the storm roared on towards Miam i. 'We're looking at a very, very bad storm and it's coming straight at us', said one US official. The Financial Times Intern ational Page 1 ============= Transaction # 239 ============================================== Transaction #: 239 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 240 ============================================== Transaction #: 240 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-1035 _AN-CIYB1AGYFT 9209 25 FT 25 SEP 92 / International Company News: US insurer shares fall on cut in pay-out By MARTIN DICKSON NEW YORK SHARES in Continental Corpo ration, the New York-based insurance group, plunged nearly 19 per cent to Do llars 24 1/2 , down Dollars 5 5/8 , yesterday after the company cut its divi dend and announced Dollars 320m of pre-tax charges, partly because of recent hurricane losses. Continental, the 11th-largest US insurer in terms of prop erty/casualty premium volume, estimated its pre-tax loss from Hurricane Inik i would total around Dollars 55m after reinsurance. It previously announced a Dollars 55m loss from Andrew. Mr John Mascotte, chairman, said the group w ould protect its capital position by reducing its exposure to future catastr ophe losses and getting out of both the reinsurance business and local busin ess in overseas markets. It expected to take a third-quarter pre-tax charge of Dollars 120m from this withdrawal and would also take a Dollars 200m char ge from hurricane losses and the cost of restoring its catastrophe reinsuran ce protection. It aimed to lock in more than Dollars 100m of realised capita l gains during the quarter and would be cutting its quarterly dividend from 65 cents to 25 cents. The Financial Times London Page 25 ============= Transaction # 241 ============================================== Transaction #: 241 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6038 _AN-CH1BVABKFT 9208 27 FT 27 AUG 92 / Hurricane batters southern US but lets insurers off lightly By MARTIN DICKSON and ROBERT P ESTON NEW YORK, LONDON HURRICANE Andrew, claimed to be the costliest natural disaster in US history, yesterda y smashed its way through the state of Louisiana, inflicting severe damage o n rural communities but narrowly missing the low-lying city of New Orleans. The storm, which brought havoc to southern Florida on Monday and then headed north-west across the Gulf of Mexico, had made landfall late on Tuesday nig ht some 60 miles south-west of the city in the agricultural Cajun country. A lthough the damage from the hurricane's landfall in Florida on Monday was mu ch greater than initially esti mated, insurers' losses there are likely to t otal less than Dollars 1bn, well below earlier expectations, a senior member of Lloyd's insurance market said yesterday. In Louisiana, the hurricane lan ded with wind speeds of about 120 miles per hour and caused severe damage in small coastal centres such as Morgan City, Franklin and New Iberia. Associa ted tornadoes devastated Laplace, 20 miles west of New Orleans. Then, howeve r, Andrew lost force as it moved north over land. By yesterday afternoon, it had been down-graded to tropical storm, in that its sustained windspeeds we re below 75 mph. Initial reports said at least one person had died, 75 been injured and thousands made homeless along the Louisiana coast, after 14 conf irmed deaths in Florida and three in the Bahamas. The storm caused little da mage to Louisiana's important oil-refining industry, although some plants ha d to halt production when electricity was cut. The Lloyd's member, in close contact with leading insurers in Florida, said that damage to insured proper ty was remarkably small. More than Dollars 15bn of damage may have been caus ed in all, but was mostly to uninsured property, he said. In north Miami, da mage is minimal. Worst affected is one hotel, whose basement was flooded. Mo st of the destruction occurred in a 10-mile band across Homestead, 25 miles to the south of Miami, where a typical house sells for Dollars 100,000 to Do llars 150,000. US insurers will face a bill in respect of such properties, b ut Lloyd's exposure there is minimal. Many destroyed power lines are thought to be uninsured, as are trees and shrubs uprooted across a wide area. Only one big hotel in that area has been badly damaged, a Holiday Inn. Across Flo rida, some 2m people remained without electric ity yesterday and health offi cials were warning the public to boil or chemically treat all water. Hurrica ne Hugo, which devastated much of South Carolina in 1989, cost the insurance industry some Dollars 4.2bn. Further uninsured losses may have raised the t otal to Dollars 6bn-Dollars 10bn. The Financial Times

London Page 6 ============= Transaction # 242 ============================================== Transaction #: 242 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-4094 _AN-CIIBPAA3FT 9209 09 FT 09 SEP 92 / Bush seeks Dollars 7.6bn after hurrica ne By GEORGE GRAHAM WASHINGT ON PRESIDENT George Bush yesterday asked Congress for Dol lars 7.6bn (Pounds 3.81bn) in emergency aid to help clean up after Hurricane Andrew, which left an estimated 250,000 people homeless in Florida and Loui siana last month, writes George Graham in Washington. Mr Bush said he was co nfident there would be no 'gridlock' between him and Congress over the aid p ackage. The Financial Times London Page 5 ============= Transaction # 243 ============================================== Transaction #: 243 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-1774 _AN-CLPCOAEEFT 9212 16 FT 16 DEC 92 / International Company News: Allstate I nsurance debt under review By NIKKI TAIT < DATELINE> NEW YORK STANDARD & Poor's, one of the large Wall Street rating agencies, yesterday announced that it was reviewing the debt ratings of Allstate Insurance Company, with a view to possible downgrad e, as a result of the insurer's revised assessment of the losses from Hurric ane Andrew earlier this year. The insurer, one of the largest property-casua lty insurers in the US and part of the Sears, Roebuck financial services and retail group, is currently projecting a Dollars 2.65bn loss as a result of claims which followed the hurricane. The storm system swept through southern Florida and Louisiana in late-August, causing massive damage and becoming t he costliest disaster which the US insurance industry has ever faced. S & P suggested yesterday that, if the after-tax charge from the hurricane was Dol lars 1bn at Allstate, and the insurer loses around Dollars 1bn (under the st atutory accounting principles common in the insurance industry, rather than GAAP), this would raise the operating leverage ratio above three times, comp ared with 2.7 times in 1991. It noted that there was potential to improve th e company's capital position, if and when Sears goes ahead with plans to sel l up to 20 per cent of the equity in Allstate to public investors. S & P cur rently has a AA minus claims-paying rating on Allstate Insurance Company, an d its property-casualty subsidiaries. The Financial Times London Page 28 ============= Transaction # 244 ============================================== Transaction #: 244 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6510 _AN-CHZBBACCFT 9208 24 FT 24 AUG 92 / Letter: Spat over a 10-gallon hat From Dr LANE HUGHSTON Sir, Jurek Martin and Matthew Kaminsky suggest in their report on the Republican convention ( 'Houston in a whirl as the party hurricane hits', August 18) that 'it is the constitutional right of every Texan, and most of the south, to drink and dr ive'. Now Texans are good-natured people who enjoy poking fun at their own o ften colourful attitudes. But this characterisation, though undoubtedly inte nded in jest, is in bad taste. It also misrepresents the views held by most Americans. Lane Hughston, Hurricane Creek Ranch, Route One, Anna, Texas 7524 8 The Financial Times London Page 11 ============= Transaction # 245 ============================================== Transaction #: 245 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-10300 _AN-CKAABAD3FT 921 031 FT 31 OCT 92 / International Company News: Aetna str ongly ahead despite hurricane impact By MARTIN DICKS ON NEW YORK AETNA LIFE & Casualty , one of the largest US composite insurers, yesterday reported third-quarter net income of Dollars 239m, up from Dollars 115m in the same period of last year, despite higher catastrophe losses from Hurricane Andrew. The income f igures, which worked through at Dollars 2.17 a share, compared with Dollars 1.06 a share in the same period of last year, included the earnings of Ameri can Re-Insurance which Aetna sold for Dollars 1.4bn to the leveraged buy-out firm of Kohlberg, Kravis, Roberts, at the end of September. Stripping out t he Dollars 34m of income from American Re and Dollars 78m of profits from it s sale, Aetna made Dollars 127m, or Dollars 1.15 a share, from continuing op erations, compared with Dollars 72m, or 67 cents a share, a year ago. The re sults included Dollars 58m, or 52 cents of net realised capital gains, compa red with losses of Dollars 45m, or 40 cents a share, a year ago. This quarte r's gains included losses from additional property reserves of Dollars 52m, down from Dollars 72m a year ago. The group's commercial property and casual ty insurance services earned just Dollars 4m, down from Dollars 32, as catas trophe losses rose to Dollars 29m, up from Dollars 6m, mainly because of Hur ricane Andrew, which devastated Florida during the summer. For the nine mont hs Aetna reported total net income of Dollars 426m, up from Dollars 412m. The Financial Times London Page 12 ============= Transaction # 246 ============================================== Transaction #: 246 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT941-10424 _AN-EBIDBAF3FT 940 209 FT 09 FEB 94 / International Company News: Further a dvances at Allstate By RICHARD WATERS NEW YORK Allstate, the diversified US insurance group which was floated on the stock market last summer, reported a further profits rebound in the final quarter of 1993 after heavy losses from hurric ane Andrew the year before. Mr Wayne Hedien, chairman and chief executive, s aid the company would be able to 'accelerate growth in our major business se gments sooner than we anticipated,' thanks to its stronger operating profits and the proceeds from sales of securities. Allstate reported net income of Dollars 259m, or 57 cents a share, for the final quarter and Dollars 1.3bn, or Dollars 2.99, for the year. In 1992, it had losses of Dollars 139m in the final quarter and Dollars 825m (Dollars 500m before accounting changes) for the year. Hurricane Andrew led to post-tax losses of Dollars 506m in the qu arter and Dollars 1.65bn in 1992. Leaving aside the hurricane, operating inc ome rose to Dollars 1.16bn in the year from Dollars 1.04bn, as overall reven ues grew by 3.5 per cent to Dollars 20.9bn. Underwriting results in the prop erty and casualty business improved, with the combined loss ratio falling to 103 in 1993 from 105 the year before. Companies:- Al lstate Insurance. Countries:- USZ United States of Ame rica. Industries:- P6331 Fire, Marine, and Casualty Ins urance. P6311 Life Insurance. Types:- FIN Interim results. FIN Annual report. The Financial Times London Page 31 ============= Transaction # 247 ============================================== Transaction #: 247 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 20 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: FT924-11804 _AN-CJWBWAFTFT 921 023 FT 23 OCT 92 / International Company News: Paradoxic al profit promised by US disasters - Nikki Tait examines how insurers could reap gold from the whirlwind By NIKKI TAIT THE television pictures were horrific. Flattened trailer homes stret ched as far the camera could see; sweating, distraught individuals fought ov er ice trucks and food supplies; children played amid rubble and overturned vehicles. But, if Hurricane Andrew left a trail of human devastation across southern Florida in late-August, did it at least do US property-casualty ins urers a good turn? The industry could use some help. It has been stuck in a 'downswing' of the insurance cycle for five years, an uncomfortably extended stretch. Under conventional insurance theory, this is the period when prici ng is 'soft', and insurers cannot push through meaningful premium increases. As a result, they make a loss on their underwriting activities, although th ey may still be profitable overall thanks to income on their investment hold ings. For much of the Sixties and Seventies, these 'downswings' lasted for a bout three or four years. The cycle would then 'turn', as underwriting capac ity - for a variety of reasons - withdrew from the marketplace. Remaining in surers duly increased their rates; their underwriting losses dwindled; and e ventually they made money on insurance activ-ities. In more recent years, ho wever, the industry has found the downswings becoming more pronounced, and t he upswings less so. The last cycle, for example, began with a downswing in 1977, which lasted for seven years. It 'turned' in 1984, and insurers did en joy three years of improving conditions. But, before the industry overall co uld move to an underwriting profit, the cycle turned down again in 1987. The current downswing has continued ever since. The question, then, is whether Hurricane Andrew is the catalyst which will push capacity out of the market, allow remaining insurers to raise rates, and move property-casualty (P-C) i nsurers in the direction of an underwriting profit. Some Wall Street analyst s certainly think so, and Wednesday's revised estimate of the hurricane loss es - up from Dollars 7.8bn to a staggering Dollars 10.7bn - adds weight to t heir case. 'Disastrous damage inflicted by Hurricane Andrew should be large enough to cause a turn in the P-C pricing cycle,' suggest analysts at Kidder , Peabody, for example. 'The improvement in pricing should start to be evide nt with January 1993 renewals.' Such thoughts have prompted a rally in the s hares of P-C insurers - with the result that the Dow Jones index for the P-C insurance industry group has advanced by almost 10 per cent since late-Augu st, compared with a slightly weaker equity market overall. A similar trend h as been evident recently in the reinsurance sector. Proponents of this bulli sh scenario have a handful of arguments to bolster their case. First, they p oint out that Hurricane Andrew came after a series of costly disasters earli er in the year. These included the Los Angeles riots and some less-publicise d but extremely violent storms which hit the grain belt. Ahead of Hurricane Andrew, therefore, 1992's insured losses from US catastrophes totalled almos t Dollars 4bn - only slightly below the Dollars 4.2bn cost of Hurricane Hugo , previously the most expensive insured disaster. Secondly, US P-C insurers are generally thought to hold less catastrophe reinsurance that they did a f ew years ago, and hence will have to bear a larger part of the losses themse lves. In the past, reinsurers - often non-US organisations, like Lloyds of L ondon -have picked up 30 to 40 per cent of a catastrophe's losses. Today, m ost analysts put the figure at nearer 20-30 per cent - a reduction which, in turn, reflects increased caution on the part of the hard-hit reinsurance in dustry. Finally, there is the sheer size of the Hurricane Andrew insurance b ill. In early-September, the property claims division for the American Insur ance Services Group, an industry trade organisation, estimated the insured l osses to be around Dollars 7.3bn in Florida and perhaps another Dollars 500m in Louisiana, the second state affected by the storm. This week, it raised the figure for the two states to Dollars 10.7bn. It blamed this 37 per cent increase, at least in part, on jacked-up construction costs in Florida, and heavy rain which followed the hurricane and prevented some immediate repair work, compounding the long-term damage. Even so, a few industry executives a nd analysts, who have seen hopes of a turn in the cycle dashed before, still urge caution. For a start, the property-casualty industry is thought to be well capitalised at present - a sharp contrast to the life sector, where mo re substantial exposure to property-related investments is taking its toll. P-C insurers generally have very low exposures to property-related holdings and high-yield bonds - the types of investment which have caused problems fo r life companies. On the plus side, this should allow the industry to absorb the losses without too much anguish. Moody's, the large Wall Street rating agency, notes that the sector's aggregate capital at end-1991 was Dollars 15 8bn, or 'plenty to cover this year's storm costs'. But, conversely, the pres sure to push up rates may be mitigated. Secondly, there are some concerns th at political considerations will weigh in. Much play has already been made o f an internal memo from Mr Maurice Greenberg, head of the large American Ins urance Group (AIG), to executives on August 24. Mr Greenberg, writing just a fter the hurricane struck, suggested that the storm presented an opportunity to 'get prices increases now'. That, in turn, prompted the state insurance commissioners in Florida and Louisiana to freeze AIG's rates for 60 days whi le they examined the company's practices. To date, there have been no indica tions that repercussions from the leaked memo will more widespread. Neverthe less, consumer groups have leapt on the bandwagon, with the result that rate increases - always a touchy subject - have become doubly-sensitive. Finally , it is worth remembering that the impact of the hurricane has not been spre ad evenly - either between individual insurance companies, or between the va rious elements within the P-C market. How the storm will affect different in surance lines is still a hotly-debated subject. Some pundits believe the eco nomic structure of Florida's Dade County - a large number of poor and probab ly under-insured residential properties but some big retail malls which were effectively flattened - means that pricing in the difficult commercial mult i-peril market stands a good chance of firming. Others claim that other exte rnal factors will keep commercial lines 'soft', and the impact will be confi ned to personal lines. Still, the proof of the pudding in the eating - and s ome signs of discomfort are already becoming evident in individual situation s. Only this week American Reliance Group, a New Jersey-based property-casua lty insurer, said it had reached the limits of its catastrophe reinsurance c overage, and needed to raise capital in the wake of rising losses from the h urricane. The fourth-quarter dividend was axed, and management did not rule out a sale of the company. And American Reliance, one suspects, may not be a lone in its misery. The Financial Times London Pa ge 28 ============= Transaction # 248 ============================================== Transaction #: 248 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 21 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: FT924-13399 _AN-CJOBTAFZFT 921 015 FT 15 OCT 92 / International Company News: State Far m says it expects Dollars 2bn hurricane claims By NI KKI TAIT NEW YORK STATE Farm, the biggest provider of home insurance in Florida, yesterday increased its esti mate of claims resulting from Hurricane Andrew. The company now says it expe cts payments to total around Dollars 2.1bn - of which more than Dollars 1bn has already been paid out. The initial estimate was Dollars 1.5bn. State Far m's new estimate comes as many insurers are revising upwards the cost of the storm. The property claims services division of the American Insurance Serv ices Group, the industry trade organisation, originally estimated insured lo sses to be around Dollars 7.8bn. The Financial Times London Page 28 ============= Transaction # 249 ============================================== Transaction #: 249 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-9636 _AN-CKEBPAFHFT 9211 04 FT 04 NOV 92 / International Company News: Hurricane Andrew takes its toll on Travelers Corp By NIKKI TAI T NEW YORK DAMAGE claims from Hur ricane Andrew, the storm which devastated parts of southern Florida in late August, helped push Travelers Corporation, the Connecticut-based composite i nsurer, to a Dollars 385m after-tax loss in the third quarter. For the 1991 period, it made Dollars 65m profit. The group has suffered from a souring pr operty investment portfolio and has been attempting to boost capital through disposals and the sale of a minority share stake to Primerica. Travelers sa id the after-tax cost of the hurricane was Dollars 240m. It had estimated th e loss at Dollars 175m to Dollars 225m, and blamed the higher figure on 'the widespread disruption and dislocation of resources necessary to rebuild dam aged homes and businesses in south Florida'. News of the hurricane claims wa s combined with a larger-than-expected restructuring charge, Dollars 202m, w hich further depressed results. Travelers had said it would take a Dollars 1 32m charge, largely to cover 3,500 job cuts. It now says it plans to axe a f urther 1,500 jobs among its corporate and administrative staff over the next two years - explaining the additional Dollars 70m charge. 'Our core busines ses are sensitive to the protracted weak economy, and therefore we are conti nuing an intensive process to streamline operations,' said Mr Edward Budd, T ravelers' chairman. He claimed that savings from the job cuts should start t o show next year, with the annual after-tax boost topping Dollars 100m by mi d-1994. Travelers' after-tax loss came after realised investment gains of Do llars 37.6m, compared with a Dollars 15m loss in the same period of 1991. Ne t investment income was Dollars 696.3m, down from Dollars 792.3m a year ago - largely due to under-performing mortgage loans and real estate. However, ' under-performing' property assets remained at Dollars 5.2bn, unchanged year- on-year. This represents roughly one-third of the total property portfolio. The group took only a modest Dollars 17m addition to reserves for potential property-asset losses in the third quarter, bringing the overall property va luation reserve to Dollars 828m by the end of the period. Stripping out the effects of the hurricane, restructuring charges and the accounting changes, Travelers said 'core' operating earnings slipped from Dollars 68m to Dollars 44m in the quarter. This was mainly because of a decline in commercial line s, agency business and another loss in the asset management and pension serv ices division. The property-casualty personal lines business made some progr ess, however, and life insurance sales remained strong. Mr Budd painted a bl eak picture. He cited the weak economy, declining interest rates, very weak pricing in some property-casualty segments, and the property market problems , and suggested: 'We do not expect the pressure on earning to abate over the near-term.' Travelers posted an after-tax deficit of Dollars 68m for the fi rst nine months, compared with net profits of Dollars 249m last time. The sa le of the 27 per cent stake to Primerica, the financial services group, is s till awaiting regulatory and shareholder approval, but will add Dollars 722. 5m of new equity capital. That will bring total capital raised by Travelers this year to Dollars 1.4bn. The Financial Times L ondon Page 30 ============= Transaction # 250 ============================================== Transaction #: 250 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 23 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: FT942-508 _AN-EF2DYABMFT 94062 9 FT 29 JUN 94 / California may require quake cover By RICHARD WATERS NEW YORK Insurance companies operating in California are bracing themse lves for legislation which would force them to offer earthquake cover. After a meeting on Monday of Governor Pete Wilson and representatives of 18 insur ance companies, a spokesman for Mr Wilson said 'some type of action, probabl y legislative action' was likely. The meeting was called after moves by insu rers to retreat from exposing themselves to further earthquake risks. The in surance industry puts its losses from the January earthquake in southern Cal ifornia now at Dollars 5.5bn (Pounds 3.6bn), far higher than the industry's initial estimate of Dollars 2.5bn and the second-biggest US natural catastro phe in insurance terms after Hurricane Andrew hit Florida in 1992. Farmers, a subsidiary of the UK's BAT Industries, had decided temporarily to stop wri ting homeowners' insurance in the state. The company expects losses of more than Dollars 1bn from the earthquake. At present, insurers are required by l aw in California to offer optional earthquake insurance to anyone who buys o ne of their homeowner policies. Discussions at the meeting focussed on the e xperience of Florida, which faced a similar insurance crisis after the devas tation caused by Hurricane Andrew. That catastrophe cost the insurance indus try more than Dollars 15bn, prompting insurers to abandon offering hurricane insurance in the state. Countries:- USZ United Stat es of America. Industries:- P9651 Regulation of Miscell aneous Commercial Sectors. P6331 Fire, Marine, and Casualty Insurance. < /IN> Types:- TECH Safety & Standards. The Financi al Times London Page 5 ============= Transaction # 251 ============================================== Transaction #: 251 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-83 _AN-CL4A8AA6FT 921231 FT 31 DEC 92 / Reinsurance rates trigger tough talks By RICHARD LAPPER MOVES TO impose swi ngeing increases in reinsurance rates in the wake of record losses have lead to unusually protracted bargaining in London as insurance companies seek to renew annual contracts. Rates for all property reinsurances have risen but North American insurers have been asked for rises on average of up to 80 per cent compared with two years ago. Mr Jonathan Marland, broker with Lloyd Th ompson, said: 'It's the toughest market in living memory.' He added that a s eries of catastrophe losses since 1987 had eaten into the reinsurance market 's capacity to help direct insurers offset their exposures to heavy losses. The latest of these disasters - Hurricane Andrew, which struck Florida and L ouisiana in August - underlined the industry's growing exposure to catastrop he losses. Claims of more than Dollars 13bn made Andrew one of the world's m ost expensive hurricanes, nearly three times as big as Hurricane Hugo in 198 9. Hurricane Andrew had a direct impact on the US insurance and reinsurance markets, driving some smaller companies out of business and reducing the cap acity of US reinsurers to undercut their rivals. This strengthened the arm o f underwriters at Lloyd's syndicates and London companies seeking to obtain rate increases. As a result US companies have been asked to pay up to 50 per cent more for their reinsurance than last year, according to brokers CT Bow ring, which buys reinsurance in London for four out of 10 US insurance compa nies. Buyers have also been paying more for less protection. Underwriters ar e making only between Dollars 100m and Dollars 200m of cover for each custom er compared with Dollars 300m two years ago. UK insurers have been asked 25 per cent more on average. One London broker said: 'People are underwriting r isk in a way they haven't done in years.' The willingness of Lloyd's underwr iters to take a tough bargaining position has been reinforced by the knowled ge that a bad result in 1993 could put them on the dole queue. More than 150 syndicates have folded in the past two years and several companies have wit hdrawn from the reinsurance market. Names - the individuals whose assets bac k the Lloyd's market - who were members of specialist reinsurance syndicates bore the brunt of the market's losses in 1989, when Lloyd's reported result s for that year last June, in line with its three-year accounting system. In the wake of that experience members' agencies - who funnel Names into syndi cates - are already running shy of those specialising in catastrophe busines s, preferring to place members on syndicates specialising in less risky busi ness such as motor insurance. Inevitably, the increases are leading to prolo nged haggling between brokers and underwriters. This week Many insurers have still not obtained reinsurance cover. Mr Peter Grove, a Lloyd's underwriter for nearly 20 years, said: 'The market is very, very late. The renewal seas on will go on well into January.' The Financial Times

London Page 4 ============= Transaction # 252 ============================================== Transaction #: 252 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 253 ============================================== Transaction #: 253 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-5797 _AN-CIBBCACSFT 9208 28 FT 28 AUG 92 / Cleaning up after Andrew < BYLINE> By AGENCIES FLORIDA, NEW ORLEANS SQUADS of workers fanned out across storm-battered Louisiana yest erday to begin a massive rebuilding effort after Hurricane Andrew had flatte ned whole districts, killing two people and injuring dozens more, agencies r eport from Florida and New Orleans. However, local officials in Florida, hit earlier in the week by the hurricane, were critical of what they called a d elay in supplying food, drinking water and other supplies for thousands of p eople in need. Federal emergency officials acknowledged distribution problem s, Transportation Secretary Andrew Card yesterday promised 'dramatic' improv ements within 24 hours and President George Bush last night ordered troops t o Florida, without specifying a number. The government estimated it would co st Dollars 20bn-Dollars 30bn to tidy and rebuild in Florida, and to care for residents displaced by the storm. Louisiana state officials said they had n o overall count of storm-related injuries but initial estimates reckoned few er than 100. The Federal Emergency Management Agency said it was setting asi de Dollars 77m to help Louisiana recover. Most of the storm's fury was spent against sparsely populated farming communities and swampland in the state, sparing it the widespread destruction caused in Florida, where 15 people die d. Official estimates in Miami reported that the hurricane had wiped out the homes of one Dade County resident in eight - a quarter of a million people. Andrew had become little more than a strong rainstorm early yesterday, movi ng across Mississippi state and heading for the north-eastern US. Several of Louisiana's main industries were affected, including those of oysters and a lligators. Wildlife and fisheries secretary Joe Herring estimated a 50 per c ent decline in the alligator industry. The cotton and sugar-cane crops were threatened, the state agriculture department said. Most Louisiana oil refine ries, however, were barely affected and deliveries of crude oil were expecte d to resume yesterday. The Financial Times London Page 4 ============= Transaction # 254 ============================================== Transaction #: 254 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 26 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: FT931-3243 _AN-DCQCCABUFT 9303 17 FT 17 MAR 93 / International Company News: Hurricane claims cost GIO at least Dollars 15bn By KEVIN BROWN and REUTER MELBOURNE GIO Austral ia, the privatised Australian insurance group, yesterday blamed disappointin g investment returns, hurricane claims and rationalisation costs for a disap pointing net profit of ADollars 43m (USDollars 30.7m) for the six months to December. GIO, which was floated by the New South Wales state government in July, said it made an operating profit of ADollars 73m on turnover of ADolla rs 990m. The group declared an initial interim dividend of 7 cents, fully-fr anked. The group gave no comparative figures for last year's first half, whe n it was in government ownership. It re-ported a ADollars 117m net profit fo r the 12 months to June, up 23 per cent on the previous year. Mr Bill Jocely n, managing director, said losses from Hurricane Andrew, which hit Florida l ast year, were estimated at between USDollars 15bn and USDollars 18bn, compa red with an earlier estimate of USDollars 8bn. The result includes a loss of ADollars 7m caused by hurricane-related claims against SIO, the Victorian s tate insurance office, which was acquired by GIO last year. GIO said the ful l cost of integrating SIO during the half was ADollars 10.3m. Jennings, the Australian homebuilder, said its bankers would convert ADollars 27m of bank debt into equity, on top of the ADollars 63m converted into a 39 per cent eq uity stake last August, Reuter reports from Melbourne. Jennings, 43 per cent owned by Fletcher Challenge, the New Zealand forestry and energy group, sai d the bankers would receive non-voting preference shares on the additional A Dollars 27m. The company earlier reported attributable losses of ADollars 23 .05m for the six months to December 31, compared with losses of ADollars 27. 96m a year earlier. Net operating profits totalled ADollars 181,000, down fr om ADollars 3.73m. The company again paid no dividend. Companie s:- GIO Australia. Jennings. Countries:- AUZ Australia. Industries:- P6331 Fire, Marine, and Ca sualty Insurance. P1521 Single-Family Housing Construction. T ypes:- FIN Interim results. FIN Share issues. The Financial Times London Page 48 ============= Transaction # 255 ============================================== Transaction #: 255 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 27 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: FT923-5656 _AN-CIBBTAATFT 9208 29 FT 29 AUG 92 / Hurricane may cost insurers over Dolla rs 8bn By NIKKI TAIT NEW YOR K A LEADING US insurance company yesterday estimated that the industry could face losses of around Dollars 8bn to Dollars 10bn as a r esult of Hurricane Andrew, which left a five-day trail of destruction in Flo rida and Louisiana. The estimate, made by Minnesota-based St Paul Companies - which acquired Minet Holdings in the UK four years ago - came as criticism of the Bush administration's handling of the crisis in the southern states intensified. Some of those affected by the disaster claim that relief effort s have been disorganised, and that much-needed supplies have been slow to ar rive. Television stations in the US have shown pictures of fights breaking o ut for ice, for example, and long lines waiting for food shipments. Yesterda y, however, the Pentagon said that 4,500 troops - mainly from North Carolina - were now in the stricken regions, and that food supplies were capable of feeding around 72,000 people every 24 hours. On the insurance front, estimat es of the industry's losses have varied in recent days, but a consensus seem s to be forming around the Dollars 10bn figure. The Financial T imes London Page 3 ============= Transaction # 256 ============================================== Transaction #: 256 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 28 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: FT924-8379 _AN-CKKCIAD8FT 9211 11 FT 11 NOV 92 / UK Company News: General Accident's Po unds 37m loss blamed on Hurricane Andrew By RICHARD LAPPER HEAVIER-THAN-expected claims from Hurricane Andrew i n the US left General Accident, the composite insurer, nursing pre-tax losse s of Pounds 36.7m for the nine months to September 30 but masked an underlyi ng improvement in the UK and the Far East. Losses from the hurricane amounte d to Pounds 38m, some Pounds 7m more than originally estimated. GA suffered losses of Pounds 31m on its direct US business and a further Pounds 7m on it s reinsurance portfolio. US underwriting losses rose to Pounds 136.6m (Pound s 89.6m). In the UK, the company reported a continuing improvement on its do mestic motor and householders' business, largely reflecting rate increases, more selective underwriting and reduced costs. Losses from motor policies we re reduced by over 50 per cent to Pounds 50.5m. Premium income fell to Pound s 268.2m (Pounds 308.5m) despite average rate increases of about 15 per cent . The houseowners' insurance account also improved, with a Pounds 2.2m profi t in the third quarter. Over the nine months the account was only marginally in the red with losses of Pounds 1.3m, compared with Pounds 34.5m. Subsiden ce claims fell from Pounds 30m to Pounds 17.3m. Anticipating greater profita bility in this area GA aims to increase its exposure. It has agreed to acqui re a block of 216,000 policies sold by Cheltenham and Gloucester and formerl y underwritten by Municipal Mutual, the local authority-owned insurer which withdrew from the market this year. The deficit on the commercial property a ccount was also reduced, from Pounds 53.4m to Pounds 23.1m. Losses from mort gage indemnity policies, which insure mortgage lenders against losses on sal es of repossessed houses, fell to Pounds 32m (Pounds 35m). Overall UK underw riting losses were down to Pounds 133.1m (Pounds 259.7m), with premium incom e ahead at Pounds 920.1m (Pounds 906.9m). Elsewhere, Canadian underwriting l osses increased to CDollars 11.9m (Pounds 5.9m) compared with CDollars 1.5m last year, but losses in the Pacific fell from Pounds 20m to Pounds 5.2m. Ne t investment earnings increased to Pounds 301.5m (Pounds 276m). Estate agenc y losses increased to Pounds 12.1m (Pounds 11.9m). Long term profits were vi rtually unchanged at Pounds 22.4m (Pounds 22.2m). The Financial Times London Page 25 ============= Transaction # 257 ============================================== Transaction #: 257 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT923-6279 _AN-CHZBXAE9FT 9208 25 FT 25 AUG 92 / World Commodities Prices: Market Repor t By REUTER The dollar's plunge to successive lows against the D-mark pushed GOLD higher on the London bullion market, but the gains were limited by reported producer selling on Comex and the sharp losses over the past two weeks. Some short covering emerged after a large early buying order in Europe, but dealers said gold's attraction as a safe haven from the collapsing dollar was dented by the recent sell-off b y US funds, and capital was mainly moving to the Swiss franc. The turmoil i n the currency markets kept BASE METAL trading on the LME quiet as traders t ried to keep their exposure to a minimum. 'Investors won't commit themselves while there is the danger a sudden currency move will wipe out a profit or trigger a stop loss order within seconds,' one trader said. Overall dollar m etal prices moved higher and sterling quotations eased. New York COTTON futu res remained sharply up at midday amid concerns of unfavourable weather for the Delta from Hurricane Andrew which is heading toward the Gulf of Mexico. Fears that the hurricane might damage Louisiana and Florida SUGAR prices kep t the New York futures market firm. Compiled from Reuters The F inancial Times London Page 22 ============= Transaction # 258 ============================================== Transaction #: 258 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-10807 _AN-CJ2B8ACQFT 921 029 FT 29 OCT 92 / International Company News: USF&G ret urns to the black in third quarter By NIKKI TAIT NEW YORK USF&G Corporation, the trou bled Baltimore-based insurer, yesterday reported after-tax profits of Dollar s 5m in the third quarter of 1992, compared with a net loss of Dollars 25m a year ago. The small profit came despite an Dollars 80m bill for Hurricane A ndrew, the storm system which left a trail of destruction across southern Fl orida in late-August. The insurer also took a one-time restructuring charge of Dollars 51m as it implemented changes to the field marketing and underwri ting operations. These moves, it said, should produce annual cost-savings of about Dollars 55m. USF&G said that excluding both the restructuring charge and realised gains on investments, but including the hurricane losses, it wo uld have produced a loss of Dollars 80m. This would have compared with a los s of Dollars 30m in the same period of 1991. On the same basis, USF&G would have posted a nine-month loss of Dollars 75m, compared with losses of Dollar s 115m in the first three quarters of 1991. USF&G shares were Dollars 1/2 h igher at Dollars 12 1/4 when Wall Street closed. The Financial Times London Page 25 ============= Transaction # 259 ============================================== Transaction #: 259 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT924-14628 _AN-CJHBUAFAFT 921 008 FT 08 OCT 92 / Commodities and Agriculture: Hurrican e wakes US natural gas futures - The two-year-old NYMEX market has finally c ome of age By LAURIE MORSE WHEN Hur ricane Andrew swept through one of the richest natural gas producing regions of the US in late August, disrupting production, it spawned another sort of tempest in the two-year-old natural gas futures pit at the New York Mercant ile Exchange. Volume soared, prices climbed to successive contract highs, an d every serious player in the natural gas market stayed within sight of thei r screen. Producers, sensing a bonanza, rushed to price output based on the futures gains, while utilities and industrial natural gas consumers used fut ures to lock in purchases before winter drove prices even higher. The scene would not have been unusual had it been set in the NYMEX's big crude oil rin g. However, it signaled a rite of passage for the natural gas industry, wher e futures are a newcomer, and the gentlemanly practice of trading privately and with a handshake has until recently been the fashion. 'All this has happ ened in the last six months,' says Mr Mike Emerson, a trading analyst at New Jersey-based KCS Energy Risk Management. 'When natural gas futures first st arted, there were a lot of physicals people (gas traders) who were avoiding the screen. They said futures didn't have a lot to do with physicals prices. Now everyone is looking at the screen, quoting prices at a differential to futures.' Natural gas futures volume hit a daily record of 32,705 on Septemb er 23, and natural gas options - just opened at the NYMEX on October 2 - hav e had a respectable start-up volume of about 2,000 contracts per day. While small compared with more established US futures contracts, volume is growing steadily, traders say, and 'depth' in the pit has become sufficient to swal low large orders without disruptive price movement. What has happened, trade rs say, is that the gas market, after languishing since the mid-1980s, has b een jolted by volatility. They say this demanded more efficient pricing and that the gradually maturing futures market was in place to meet that demand. Natural gas price volatility this year has rivaled that in crude oil and ev en foreign currencies, driving dealers to the protection offered by futures, options, and over-the-counter swaps. In January, at the end of a very warm winter, US gas users found themselves holding burdensome inventories, and fu tures prices for February delivery skidded to lows near Dollars 1.046 per mi llion British thermal units. Cash prices followed. Six months later, the hur ricane interrupted Louisiana Gulf deliveries while utilities' inventory leve ls were historically low and the winter heating season was just around the c orner. NYMEX natural gas futures for October delivery soared to Dollars 2.74 3 per million Btu, a gain of more than 150 per cent from February. While the price disruptions from Hurricane Andrew are viewed as temporary, Richard Ka lmas, manager of gas supply for Northern Illinois Public Service Co., which delivers gas to residential and commercial customers in the upper Midwest, s ays he isn't counting on gas prices easing until early spring. 'We have to b uy gas with the anticipation that winter will be normal or colder than norma l. Since our first concern is having a secure supply, we can't hope for a wa rm winter and hold back purchases hoping prices will go down,' he said. Sinc e many utilities are in the same position, and since most are public service companies that can pass gas price increases through to their customers, sup ply concerns may continue to outweigh sobering price gains in purchasing dec isions. Mr Guy Ausmus, senior energy buyer for Chicago-based Inland Steel, t hinks the 'emotional' reaction of the futures market to the hurricane added 70 cents to natural gas prices, and he expects prices to level off by spring . Inland regularly uses the gas futures for price protection, and Mr Ausmus says the contract still has some growing to do to service an American market that consumes 53 billion cubic feet of gas per day. 'It has to grow, and th is price run-up will do a lot to help it grow,' Mr Ausmus said of the future s. 'To the extent that it grows, especially now that (NYMEX) has added optio ns trading, this market will become super efficient.' The Finan cial Times London Page 30 ============= Transaction # 260 ============================================== Transaction #: 260 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 32 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: FT924-9182 _AN-CKFB8AF0FT 9211 06 FT 06 NOV 92 / International Company News: Continenta l Corp tumbles into red and cuts dividend By NIKKI T AIT NEW YORK CONTINENTAL Corporat ion, the US property-casualty insurer whose shares plunged in late-September because of the impact of recent catastrophe losses, reported a Dollars 142. 1m deficit after tax in the third quarter, to end-September. In the same per iod of 1991, Continental made a net profit of Dollars 20.5m. In September, C ontinental warned it would take a Dollars 120m pre-tax charge to cover the c ost of leaving both the reinsurance business and writing insurance for small foreign companies. A further Dollars 200m pre-tax outlay was expected to co ver losses from Hurricanes Andrew and Iniki, plus the cost of reinstating ca tastrophe reinsurance. Continental cut its dividend, and said it would lock in more than Dollars 100m of realised capital gains, to help protect its cap ital base. On the day of these announcements, Continental's chief operating officer, Mr William Thiele, left the company to pursue other interests. The results generally reflected these moves. Continental said its discontinued o perations produced a loss of Dollars 156.5m, after the Dollars 120m charge. The on-going operations made a pre-tax profit of Dollars 20.9m, down from Do llars 42.8m a year earlier. The decrease resulted from the hurricane-related losses and costs, with higher realised capital gains offsetting much of the damage. The insurer's total realised capital gains in the third quarter wer e Dollars 166.4m, against Dollars 32.1m in the third quarter of 1992. Loews Corporation, headed by Mr Laurence Tisch, saw third-quarter after-tax profit s in the three months to end-September fall to Dollars 128.6m from Dollars 2 05.4m a year ago, on revenues of Dollars 3.42bn compared with Dollars 3.36bn . Loews incurred a charge of Dollars 109.7m at its CNA multi-line insurance subsidiary, due to insurance claims from Hurricane Andrew. After-tax profits for the first nine months of the year stand at Dollars 601.5m, against Doll ars 632.1m last time. Mr Saul Steinberg's Reliance Group Holdings, the inves tment and insurance company, reported a Dollars 1.3m profit after tax in the third quarter of 1992. It said results had been depressed by Dollars 41.7m of pre-tax losses relating to Hurricane Andrew, which cut net income by Doll ars 27.5m. However, the tiny profit marked an improvement on the Dollars 126 .3m loss seen in the same period of 1991. The Financial Times < /PUB> London Page 31 ============= Transaction # 261 ============================================== Transaction #: 261 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: FT933-12493 _AN-DGWCHAF7FT 930 723 FT 23 JUL 93 / International Company News: Munich Re maintains dividend as loss widens By DAVID WALLER < /BYLINE> FRANKFURT MUNCHENER Ruckver-sicher ung (Munich Re), Europe's largest insurance group, is to pay an unchanged an nual dividend, in spite of heavier losses from mainstream reinsurance busine ss. The company blamed the increase in losses on Hurricane Andrew, which hit the south-east of the US last summer and mounting car theft. Munich Re gave no figure but the loss is likely to be in the region of DM1bn (Dollars 588m ) after losses of more than DM900m last year. The group said income from inv estments and from general insurance business more than made up for the renew ed loss and parent company profits would be the same level as in the previou s year. This, Munich Re said, would enable the payment of a dividend of DM10 per share - the fifth year in succession that the Munich-based group has pa id this dividend. It voiced optimism about the future, saying that capacity in the world reinsurance market was beginning to shrink after a number of ye ars when the industry was beleaguered by the double burden of excess capacit y and a row of natural disasters. This began with Hurricane Hugo in 1989 fol lowed by the winter storms in 1990, Typhoon Mireille in 1991 and Hurricane A ndrew last summer. Munich Re said that after this period of disastrous condi tions for the reinsurance industry there was a chance of a substantial impro vement in prices for reinsurance coverage. There had been a noticeable impro vement in prices and conditions for reinsurance and the trend was expected t o continue throughout the current year, Munich Re said. The company warned t hat at the group level, there would be a small decline in 1992-93 earnings a s investment and other income had not fully offset mainstream underwriting l osses. Last year, group net earnings were DM177.6m, nearly 70 per cent up on the previous year. Group premium income for 1992-93 increased by 11 per cen t to about DM25bn, Munich Re said. Premium income at the parent company rose to DM16bn from DM14.6bn in 1991-92. Total group investments climbed 6 per c ent to DM76bn by the end of June. Munich Re will publish the full details of 1992-93 figures in October. Companies:- Munchener Ru ckversicherungs-Gesellschaft. Countries:- DEZ Germany, EC. Industries:- P6331 Fire, Marine, and Casualty Insu rance. Types:- FIN Annual report. The Finan cial Times London Page 24 ============= Transaction # 262 ============================================== Transaction #: 262 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 34 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: FT923-5589 _AN-CIBBTACQFT 9208 29 FT 29 AUG 92 / Markets: Hurricane rages but dollar st orm blows out - Wall Street By PATRICK HARVERSON WHILE Hurricane Andrew was wreaking havoc across large parts o f southern Florida and Louisiana this week, a grade two dollar crisis (on a one-to-four scale, four being most severe) was blowing itself out at the end of a tumultuous few days for US and world financial markets. On Wall Street , most of the damage from the currency storm was inflicted a week ago Friday and on the following Monday, when bond yields jumped sharply and the Dow Jo nes industrial average plunged by more than 75 points. The flimsy walls erec ted hastily by the Federal Reserve and other big central banks to protect th e vulnerable dollar from a tidal wave of selling on foreign exchange markets failed to hold; and as the sellers poured through the breached barricades, the currency dropped to DM1.40. This was its lowest-ever point against the D -mark. The conditions necessary for a dollar crisis had been building up in currency markets for some time. Interest rate differentials between US and G ermany widened over the summer as the Fed eased, and the Bundesbank tightene d, their respective monetary policies. The failure of the US economy to clim b out of recession with any vigour was also making overseas investors increa singly unhappy about holding the dollar. So, too, was the political hole Pre sident Bush had dug for himself in a re-election battle that only a year ago was supposed to be a shoo-in for the incumbent. Moreover, the fact that alm ost every central bank worth its salt was in the markets trying to prop up t he dollar served only to convince foreign exchange dealers that the currency was heading in one direction - down. While there were plenty of reasons fo r the dealers to sell the dollar, the logic for such a strongly negative rea ction from bond and stock markets was less obviously compelling. There are t wo standard explanations why a weak dollar prompts bond prices to fall. The first is that it raises import prices and, as a result, adds to inflationary pressures. The second is that it makes it hard for the Fed to engineer anot her cut in interest rates to stimulate the flagging recovery, and raises the possibility that rates may actually have to go up to protect the currency. The first explanation is not particularly convincing - imports account for n ot much more than 10 per cent of US gross domestic product, so higher import prices do not greatly effect the overall price level, which is now around 3 per cent and heading lower. The second explanation carries more weight. Alt hough there is not much chance, given the present economic and political cli mate, that the Fed will raise rates to help the dollar, there is little doub t that the currency's weakness makes it extremely difficult for the Fed to e ase monetary policy again. The fear that the Fed may be done with interest r ate cuts for the present economic cycle was also behind the selling in equit y markets. But investors in stocks were equally, if not more, troubled by th e rise in bond yields. Just over a week ago, the yield on the benchmark 30-y ear bond, which has remained stubbornly high all year despite the poor state of the economy, looked as if it might drop below 7.3 per cent. The dollar p ut paid to those hopes and, by the middle of this week, it was approaching 7 .45 per cent, putting an upward pressure on the all-important mortgage rate for home-buyers. The dollar was not the only story in financial markets this week, and the devastating effect of Hurricane Andrew produced a typically h ard-eyed, although nonetheless logical, reaction from Wall Street. The stock s of those insurance companies with the greatest exposure in southern Florid a, the area hit worst by the hurricane, all took a tumble. But the relativel y modest losses in Geico, Travelers and Progressive suggested that the marke t believed the insurers were reserved or reinsured adequately enough to cove r hurricane-related claims. The flip side of the hurricane's coin was a stro ng showing from the stocks of home construction companies expected to benefi t from demand for rebuilding damaged or destroyed homes. Since there are an estimated 250,000 people left homeless by the storm, there is a lot of work to be done. The biggest gains among construction stocks this week were poste d by Lennar, Oakwood Homes, Engle Homes and Fleetwood, the largest maker of pre-manufactured homes in the US. The Financial Times

London Page II ============= Transaction # 263 ============================================== Transaction #: 263 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 35 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: FT931-5706 _AN-DCDB5AGAFT 9303 04 FT 04 MAR 93 / International Company News: Capital ri se at US Pru in spite of hurricane By NIKKI TAIT and PATRICK HARVERSON NEW YORK THE P RUDENTIAL, the large US financial institution unrelated to the British insur er with the same name, yesterday announced that its total capital increased from Dollars 9.74bn to Dollars 9.82bn in 1992, despite the heavy claims resu lting from Hurricane Andrew. The Prudential is a mutual insurer - owned by i ts policyholders rather than by shareholders - and increases in capital are the closest equivalent to a conventional profits total. The company said the net loss from Hurricane Andrew, which devastated southern Florida in late-A ugust, topped Dollars 900m and that the overall financial results 'fell well short of goals'. But it described the performances of its Prudential Securi ties arm, its home mortgage, group insurance and asset management businesses as 'vigorous'. The group's results were also helped by 'substantial' gains in its bond portfolio. The Prudential said total net capital gains on the in vestment side were Dollars 461m last year - reflecting gains on the bond sid e, offset by losses on commercial property investments. Consolidated net inv estment income of the year overall was unchanged at Dollars 10.3bn. The Prud ential's return on invested assets, meanwhile, fell from 9.3 per cent to 8.8 per cent, partly due to the declining interest rate environment. Prudential Securities, the group's Wall Street broking house, reported a 42 per cent i ncrease in pre-tax profits to Dollars 221m in the wake of strong underwritin g and retail brokerage businesses. But after taxes of Dollars 71m, 1992 net income of Dollars 150m was well down on 1991 when the firm made Dollars 201m after tax benefits of Dollars 45m. Overall revenues at the securities unit rose 7 per cent to Dollars 2.7bn, fuelled by an 11 per cent gain in retail b roking commissions and what the firm described as a 'significant increase' i n underwriting activity. Customer assets under management or administration at Prudential Securities rose 10 per cent last year to Dollars 41.5bn. The b rokerage arm's management also said yesterday that 1993 had started strongly . January was the firm's third best month ever, said chief executive Mr Hard wick Simmons. Companies:- Prudential. Coun tries:- USZ United States of America. Industries:- P6311 Life Insurance. P6411 Insurance Agents, Brokers, and Servic e. Types:- COMP Company News. INS Insurance. The Financial Times London Page 27 ============= Transaction # 264 ============================================== Transaction #: 264 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 36 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: FT924-9633 _AN-CKEBPAFLFT 9211 04 FT 04 NOV 92 / International Company News: Cigna stay s in the black despite heavy storm losses By NIKKI T AIT CIGNA, one of the biggest composite insurers in the US, unveiled a large drop in third-quarter earnings, but was profitable despite heavy losses from Hurricane Andrew which ravaged southern Florida and Louis iana in August. Cigna said that after-tax profits for the three months to en d-September totalled Dollars 55m, down from Dollars 123m a year ago, with re alised investment gains contributing Dollars 52m (Dollars 10m). The third-qu arter results reflected catastrophe losses of Dollars 139m, before tax, of w hich Dollars 131m came from Hurricanes Andrew and Iniki, a second storm syst em which hit Hawaii later in the autumn. In the same three months of 1991, C igna's catastrophe losses were Dollars 17m. As a result of these losses, Cig na's property-casualty division produced a Dollars 270m deficit for the quar ter, despite after-tax investment gains of Dollars 29m against a Dollars 5m profit, including after-tax investment gains of Dollars 7m, in the same peri od in 1991. However, the company added that its other three divisions had 's trong' earnings in the third quarter. Cigna is showing after-tax profits of Dollars 286m for the first nine months of the year, including realised inves tment gains of Dollars 122m. At the same stage in 1991, the figure was Dolla rs 341m, helped by realised investment gains of Dollars 51m. Th e Financial Times London Page 31 ============= Transaction # 265 ============================================== Transaction #: 265 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 266 ============================================== Transaction #: 266 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 37 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: FT923-4554 _AN-CIFAEAEAFT 9209 05 FT 05 SEP 92 / Right direction US troops from the 10th mountain division restore a street sign in Florida City , south of Miami, during their clean-up operation in the wake of Hurricane A ndrew The Financial Times London Page 22 ============= Transaction # 267 ============================================== Transaction #: 267 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 38 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: FT931-6935 _AN-DBZCKAF9FT 9302 26 FT 26 FEB 93 / International Company News: US insurer to quit Japan By EMIKO TERAZONO TOKYO CONTINENTAL Insurance, the Japanese arm of US casualty insurer Continental Corporation, yesterday announced it would withd raw from the Japanese market in September. The move is part of Continental's restructuring of its overseas network after facing losses from hurricane da mage and the costs of reinstating catastrophe reinsurance. It may trigger si milar decisions among US casualty insurers facing huge claims for damages ca used by hurricanes Andrew and Iniki. Japan's tightly-regulated insurance mar ket has also been a barrier for foreign insurers, which find it difficult to crack traditional relationships between Japanese business and their insuran ce companies. Continental has about 30,000 contract holders in Japan, and it s premium income totalled Y1.2bn (Dollars 10m) during the year to March last year, ranking eighth among 33 foreign insurance companies in Japan. The Tok yo arm of Assicurazioni Generali, a leading Italian casualty insurance compa ny which started its Japanese operations in 1991, will take over Continental 's operations and contracts. Continental's 50 employees are also expected to be transferred to Assicurazioni. Companies:- Contine ntal Insurance. Countries:- JPZ Japan, Asia. Industries:- P6331 Fire, Marine, and Casualty Insurance. < XX> Types:- COMP Company News. TECH Services. The Financial Times London Page 29 ============= Transaction # 268 ============================================== Transaction #: 268 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 39 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: FT923-2326 _AN-CIRBKAB3FT 9209 18 FT 18 SEP 92 / Clearing the fields Workers clear a field of debris left by Hurricane Andrew near Homestead, Fl orida. Farmers are starting to plant new crops after more than three weeks o f work to repair damage caused by the storm, which swept through on August 2 4 The Financial Times London Page 11 ============= Transaction # 269 ============================================== Transaction #: 269 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 40 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: FT924-11763 _AN-CJWBWAG1FT 921 023 FT 23 OCT 92 / International Company News: Extraordi nary items push ITT down 36% in period By KAREN ZAGO R ITT, the US conglomerate, yesterday unveiled a 36.5 per c ent drop in third-quarter net income, reflecting a balance sheet cluttered w ith extraordinary items. The figures included an after-tax gain of Dollars 6 22m, or Dollars 4.71 a share from the sale of ITT's 30 per cent stake in Alc atel, the French telecommunications company. This was largely offset by char ges of Dollars 582m, or Dollars 4.41, to cover losses at its Hartford insura nce unit. Catastrophe losses from hurricanes Andrew and Iniki reduced earnin gs by a further Dollars 95m, or 72 cents. Including these items, ITT recorde d net income of Dollars 113m, or 60 cents, compared with Dollars 178m, or Do llars 1.30, a year earlier. Sales were Dollars 5.5bn against Dollars 4.9bn. ITT had warned investors about its extraordinary items in the quarter and ha d announced its catastrophe losses from the hurricanes. Shares in ITT eased only Dollars 1/8 to close at Dollars 65 1/4 yesterday in light trading. Ope rating income improved at five of ITT's nine leading businesses. Earnings fr om ITT's automotive business rose to Dollars 26m from Dollars 14m. Its fores t products services business saw operating income grow to Dollars 35m from D ollars 22m. ITT Sheraton hotels had earnings of Dollars 13m, against Dollars 4m. Earnings from ITT's finance arm grew to Dollars 51m from Dollars 23m wh ile company's communications and information services saw income advance to Dollars 53m from Dollars 43m. ITT said it was adding Dollars 680m in capital to its insurance business to strengthen its surplus position. The Financial Times London Page 27 ============= Transaction # 270 ============================================== Transaction #: 270 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 41 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: FT924-2519 _AN-CLNB1AD6FT 9212 12 FT 12 DEC 92 / World News in Brief: Storm batters US east coast A severe winter storm with hurricane force win ds and snow battered the north east coast of the US, causing flooding, power failures and hundreds of accidents, and throwing New York into chaos. Dow d ips as storms keep traders away, Page 23 The Financial Times London Page 1 ============= Transaction # 271 ============================================== Transaction #: 271 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 42 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: FT924-12072 _AN-CJVB5AE6FT 921 022 FT 22 OCT 92 / International Company News: Hurricane helps reduce Texaco earnings by 6% By ALAN FRIEDMAN NEW YORK TEXACO, the US energy g roup, yesterday disclosed a 5.9 per cent decline in third-quarter net earnin gs, which it attributed to costs associated with property damage caused by H urricane Andrew and debt-related expenses. The drop - from Dollars 286m to D ollars 269m - translated into earnings per share of 94 cents, down from Doll ars 1.01 a year ago. But Texaco maintained that without special charges its third-quarter 1992 net would have been Dollars 1.10 a share, or Dollars 309m . Revenues were 6.9 per cent higher at Dollars 10bn. For the first nine mont hs of 1992 net income dropped by 26.4 per cent to Dollars 714m on revenues 2 per cent lower at Dollars 27.97bn. Mr James Kinnear, chief executive, said the operational performance in the quarter reflected benefits from better cr ude and natural gas prices, as well as efforts to control expenses. These be nefits, however, were dampened by weak refinery margins in the US and in maj or international markets. In operating terms, exploration and production ear nings in the US were Dollars 189m in the quarter, against Dollars 129m a yea r ago. Manufacturing and marketing earnings were Dollars 87m, up from Dollar s 82m last time. Exploration and production operating income outside the US was Dollars 66m, down from Dollars 89m in the third quarter of 1991. Non-US manufacturing and marketing operating profits were also lower, at Dollars 86 m against Dollars 118m a year ago. Texaco's petrochemical losses in the thir d quarter were Dollars 8m, compared with Dollars 3m earnings last year. On W all Street, Texaco's share price closed Dollars 1/4 higher at Dollars 62. < /TEXT> The Financial Times London Page 26 ============= Transaction # 272 ============================================== Transaction #: 272 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 42 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: FT924-12072 _AN-CJVB5AE6FT 921 022 FT 22 OCT 92 / International Company News: Hurricane helps reduce Texaco earnings by 6% By ALAN FRIEDMAN NEW YORK TEXACO, the US energy g roup, yesterday disclosed a 5.9 per cent decline in third-quarter net earnin gs, which it attributed to costs associated with property damage caused by H urricane Andrew and debt-related expenses. The drop - from Dollars 286m to D ollars 269m - translated into earnings per share of 94 cents, down from Doll ars 1.01 a year ago. But Texaco maintained that without special charges its third-quarter 1992 net would have been Dollars 1.10 a share, or Dollars 309m . Revenues were 6.9 per cent higher at Dollars 10bn. For the first nine mont hs of 1992 net income dropped by 26.4 per cent to Dollars 714m on revenues 2 per cent lower at Dollars 27.97bn. Mr James Kinnear, chief executive, said the operational performance in the quarter reflected benefits from better cr ude and natural gas prices, as well as efforts to control expenses. These be nefits, however, were dampened by weak refinery margins in the US and in maj or international markets. In operating terms, exploration and production ear nings in the US were Dollars 189m in the quarter, against Dollars 129m a yea r ago. Manufacturing and marketing earnings were Dollars 87m, up from Dollar s 82m last time. Exploration and production operating income outside the US was Dollars 66m, down from Dollars 89m in the third quarter of 1991. Non-US manufacturing and marketing operating profits were also lower, at Dollars 86 m against Dollars 118m a year ago. Texaco's petrochemical losses in the thir d quarter were Dollars 8m, compared with Dollars 3m earnings last year. On W all Street, Texaco's share price closed Dollars 1/4 higher at Dollars 62. < /TEXT> The Financial Times London Page 26 ============= Transaction # 273 ============================================== Transaction #: 273 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 43 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: FT923-7399 _AN-CHTAOADUFT 9208 18 FT 18 AUG 92 / Houston in a whirl as the party hurric ane hits REPUBLICANS were warned that Houston can be inhospitable not politically necessarily, but climatic ally, write Jurek Martin and Matthew Kaminski in Houston. Thus it seemed a g ood omen that the convention dawned with, by local standards, balmy weather, dry heat in the mid-80s, and coolish nights perfect for the party-going whi ch accompanies these quadrennial bashes, regardless of political affiliation . But it is also hurricane season and, as has been endlessly reported, in pr evious years 10 hurricanes have struck the city between August 17-20, the da ys spanning the convention. The weather service has discovered an ominous tr opical depression in the Gulf of Mexico. If it hits, the Republicans could f ind non-political chaos on their hands. For a start Houston is a city made f or motorists (actually, made only for motorists since public transport is ru dimentary). But it is the constitutional right of every Texan, and most of t he south, to drink and drive, which means the parties have not been affected . Not that every party is necessarily overflowing with the demon drink. Yest erday, for example, the Reverend Pat Robertson, who sought the Republican no mination in 1988, hosted Pat Boone, the 1950s singer turned television evang elist, Vice-President Dan Quayle and Oliver North, of Iran-Contra fame at a 'God and country rally.' As Garry Wills, the astute observer of American pol itics, says: 'The crazies are in charge.' More conventional good 'ole countr y fun is being sponsored by the National Rifle Association - '3,000,000 stro ng and we vote' proclaim the three billboards that surround the convention s ite. The association supports a kind of old west ideal rather than, it seems , the violence and urban blight to be found in economically depressed modern Houston. Also there was Charlton Heston, the hero of many westerns, who is now the gun lobby's pitch man, and Randy Travis, the president's favourite c ountry singer, who can be guaranteed to sing what Republicans hope to make t he mantra of this convention: 'Forever and ever, amen'. Still, the Republica ns are now, in the late Lee Atwater's words, the big tent, tolerant of all s orts of opinion. This is why extra-convention dissent has been confined to a vacant lot across the street from the Astrodome - where signs had to be app roved before coming in. Towering above them is one of the NRA billboards. Th e big tent approach, though, does make for unlikely party bedfellows. It wou ld perhaps be too much to expect the American Israel Political Action Commit tee (AIPAC) to invite Mr Buchanan, Mr Bush's challenger in the presidential primaries, to speak. But the way things are going this year it is within the realm of possibility that Planned Parenthood could invite former Senator Ba rry Goldwater for lunch. The old conservative warhorse has recently taken to warning President George Bush that his adamant opposition to abortion could cost him the election. After all, it is Mr Bush himself who keeps calling 1 992 'this screwy political year'. The Financial Times

London Page 5 ============= Transaction # 274 ============================================== Transaction #: 274 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 44 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: FT924-12238 _AN-CJUB4ACWFT 921 021 FT 21 OCT 92 / International Company News: Allianz s ees increase in turnover to DM52bn By DAVID WALLER < /BYLINE> FRANKFURT TURNOVER at Allianz, the largest insurance group in Europe, will rise from DM48.7bn last year to mor e than DM52bn (Dollars 36.8bn) this year, the Munich-based company said yest erday as it announced half-year figures. However, a number of factors, inclu ding Hurricane Andrew in the US as well as an explosion of car theft in Germ any, will ensure that mainstream insurance business - before taking into acc ount investment income - will make losses this year for the second year in a row. Profits from the group's investment activities - the book value alone of its investments stands in excess of DM150bn - will compensate for the und erwriting loss on pure insurance business, meaning that overall profits will be 'clearly positive', Allianz said yesterday. As a result, the dividend fo r the current year will be held at the same level as for 1991, at DM13.50 pe r share, Allianz said as it unveiled premium income up by 5.1 per cent to DM 27.4bn in the first six months of the year. Allianz's shares have fallen a q uarter from their high point in June this year, driven downwards by disappoi nting 1991 figures released in late July. Underwriting losses were DM1.78bn in 1991, compared with a profit of DM182m in the previous year, a fact which markets chose to focus on rather than the 4 per cent increase in overall ne t profits to DM1.05bn. Hurricane Andrew, which swept through a number of sta tes in the US in August this year, is likely to cost Allianz DM75m. Losses a t the Deutsche Versicherungs subsidiary in east Germany will improve by DM20 0m this year, after DM625m last year. Domestic results have been hit by a hi gh level of industrial claims and a surge in car theft. The Fin ancial Times London Page 26 ============= Transaction # 275 ============================================== Transaction #: 275 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 45 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: FT923-1220 _AN-CIXB5ACKFT 9209 24 FT 24 SEP 92 / Recovery in US 'slow but uneven' By REUTER WASHINGTON THE US economy is improving slowly and prices are generally stable as ide from a jump in lumber costs caused by Hurricane Andrew, the Federal Rese rve said in its latest national survey, Reuter reports from Washington. 'Eco nomic activity has been improving slowly in most of the nation, but the pace of recovery has been uneven across regions and sectors,' the survey by the 12 Federal Reserve banks said. The report, known as the Beige Book, was base d on information gathered before September 15 and is the last one before the November 3 presidential election, in which joblessness and economic weaknes s are key voter concerns. 'Little upward pressure on prices has been evident , except for products such as lumber and natural gas associated with storm-r elated damage,' the summary said. Rebuilding after Hurricane Andrew would ev entually stimulate economic activity in Florida and Louisiana. Retail sales were 'steady or slightly higher' in most regions, except for lacklustre new- car sales. Manufacturing activity had weakened for cars, aerospace and defen ce-related industries. 'In manufacturing outside these sectors, however, imp rovement is noted in orders, production and sales.' The survey found that th e pace of new homebuilding was improving slowly, particularly for low- and m id-priced homes, although commercial and other non-residential construction was weak. The Fed banks in Minneapolis, Philadelphia and Richmond, Va, said retail sales in their regions had picked up in recent weeks. Merchants in Ch icago and New York also saw some sales growth for most consumer goods in Aug ust and early September. But auto sales were weak. The Chicago and Cleveland Fed districts said dealers there were cutting orders below sales to keep in ventories under control. The Financial Times Lond on Page 6 ============= Transaction # 276 ============================================== Transaction #: 276 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 46 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: FT933-15680 _AN-DGHCRAAEFT 930 708 FT 08 JUL 93 / World News in Brief: Calvin lashes Me xico At least 19 people died and thousands were left home less in western Mexico as hurricane Calvin moved up the Pacific coast. Weath er, Page 26 Countries:- MXZ Mexico. Indus tries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. RES Natural resources. The Financ ial Times London Page 1 ============= Transaction # 277 ============================================== Transaction #: 277 Transaction Code: 19 (Record Selected) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 46 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: FT933-15680 _AN-DGHCRAAEFT 930 708 FT 08 JUL 93 / World News in Brief: Calvin lashes Me xico At least 19 people died and thousands were left home less in western Mexico as hurricane Calvin moved up the Pacific coast. Weath er, Page 26 Countries:- MXZ Mexico. Indus tries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. RES Natural resources. The Financ ial Times London Page 1 ============= Transaction # 278 ============================================== Transaction #: 278 Transaction Code: 22 (Record(s) Saved) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 46 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: FT933-15680 _AN-DGHCRAAEFT 930 708 FT 08 JUL 93 / World News in Brief: Calvin lashes Me xico At least 19 people died and thousands were left home less in western Mexico as hurricane Calvin moved up the Pacific coast. Weath er, Page 26 Countries:- MXZ Mexico. Indus tries:- P9229 Public Order and Safety, NEC. Types:- NEWS General News. RES Natural resources. The Financ ial Times London Page 1 ============= Transaction # 279 ============================================== Transaction #: 279 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 47 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: FT931-13755 _AN-DAVB3AABFT 930 122 FT 22 JAN 93 / World News in Brief: Anglo-Irish resc ue bid Aircraft from Ireland, Northern Ireland and Scotla nd flew to the help of the German cargo ship Ute, which sent out a Mayday me ssage off Donegal. The rescue attempt was taking place in hurricane force ga les. Countries:- IEZ Ireland, EC. Industr ies:- P4412 Deep Sea Foreign Transportation of Freight. Types:- RES Facilities. The Financial Times < PAGE> London Page 1 ============= Transaction # 280 ============================================== Transaction #: 280 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 48 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: FT931-2618 _AN-DCSB4ABMFT 9303 19 FT 19 MAR 93 / International Company News: Skandia lo sses deepen four-fold By CHRISTOPHER BROWN-HUMES STOCKHOLM SKANDIA, the leading Swedi sh insurance group, plunged to a SKr2.45bn (Dollars 314m) operating loss in 1992, more than four times the 1991 SKr580m deficit. This followed heavy cre dit insurance losses, a big decline in property values and large claims from Hurricane Andrew. The group indicated last month that it would not pay a di vidend after its net asset value fell 20 per cent in 1992 to SKr11.5bn. In 1 991, it paid a SKr4-per-share dividend. Premiums rose 26 per cent to SKr36.5 bn from SKr29.0bn, mainly because of currency changes. However, its manageme nt operating loss deepened to SKr3.64bn from SKr1.13bn, while its insurance loss rose to SKr479m from SKr441m. The company said its insurance result was hit by a small number of very large claims and, in particular, Hurricane An drew, which caused SKr550m in losses. It reported a mixed development for it s non-life insurance operations, with Sweden, Norway and Britain showing a p ositive trend, while Danish and Italian subsidiaries incurred losses. Fallin g property values, both at home and abroad, cost the group SKr1.41bn, while losses within the credit insurance sector amounted to SKr890m. The group was heavily exposed to two credit insurance companies, Svenska Kredit and Inter national Credit, both of which collapsed last year. The management operating result also included SKr1.09bn in costs to cover discontinued business. Thi s included a SKr200m charge for restructuring the group's reinsurance operat ions and costs to run off business in its Pan Financial credit insurance com pany. The company is aiming to cut its non-life reinsurance premium volume b y 70 per cent within two years. Companies:- Skandia G roup Forsakrings. Countries:- SEZ Sweden, West Europe. Industries:- P6331 Fire, Marine, and Casualty Insuranc e. Types:- FIN Annual report. The Financial Times London Page 22 ============= Transaction # 281 ============================================== Transaction #: 281 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 282 ============================================== Transaction #: 282 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 49 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: FT924-9192 _AN-CKFB8AFOFT 9211 06 FT 06 NOV 92 / International Company News: US insurer s check impact of hurricane By NIKKI TAIT NEW YORK TWO leading US insurance groups ye sterday unveiled only small dips in third-quarter profits despite the impact of Hurricane Andrew on their underwriting results. American International G roup (AIG) recorded an after-tax profit of Dollars 344.6m in the three month s to end-September, down 8.6 per cent on the Dollars 376.8m seen in the same period of 1991. This included realised capital gains of Dollars 26.8m and b rought the group's after-tax income for the first nine months of the year to Dollars 1.18bn, a 2.7 per cent increase on the same period in 1991. AIG sai d the adjusted underwriting loss in the general insurance operation for the third quarter was Dollars 149.5m, compared with a deficit of Dollars 34.5m i n the same period of 1991. But net investment income rose by 8.2 per cent Do llars 311.3m; operating income from the life side increased by 15.7 per cent to Dollars 156m; and the financial services operations boosted profits by 3 9.4 per cent to Dollars 99.6m. General Re, the largest reinsurance company i n the US, reported after-tax profits of Dollars 139.8m, down from Dollars 16 1.6m, with realised gains contributing Dollars 66.4m, compared with Dollars 22.6m. The group said the combined underwriting expense ratio for the domest ic property-casualty companies in the third quarter was 113.8 per cent, comp ared with 102.1 per cent, and losses from natural disasters had added about 12 points to the combined ratio during the three-month period. However, Mr R onald Ferguson, chairman, added: 'Excluding catastrophe losses, underwriting results in the third quarter continued to improve even though they remained unsatisfactory.' The third-quarter results mean General Re is posting after -tax profits of Dollars 506.1m in the first nine months of the year, includi ng realised gains of Dollars 144.5m. This compares with Dollars 472.5m, with realised gains contributing Dollars 71.9m, in the same period of 1991. The Financial Times London Page 30 ============= Transaction # 283 ============================================== Transaction #: 283 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 50 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: FT934-13174 _AN-DJVCQAGAFT 931 022 FT 22 OCT 93 / International Company News: Catastrop he respite lifts Allstate By RICHARD WATERS NEW YORK A respite from big catastrophe l osses during the third quarter enabled Allstate, one of the US's biggest ins urers, to report a sharp improvement in post-tax profits for the period. All state's net income reached Dollars 325.7m, or 72 cents a share, compared wit h a loss of Dollars 485.8m, or Dollars 1.96 a share, a year ago. Catastrophe -related losses, which reached Dollars 1.9bn in the third quarter of 1992 du e to claims in the US arising from Hurricane Andrew, amounted to only Dollar s 47m in the latest period. The lack of any big US hurricane-related claims this year - the hurricane season officially ended last week - is likely to h ave buoyed the profits of other big property/casualty insurers, which are du e to report shortly. Net income at American General, the biggest door-to-doo r seller of life insurance in the US, fell to Dollars 118.7m from Dollars 13 8m the year before. This was due to a one-off Dollars 30m charge prompted by the rise in the US corporate tax rate. Before tax, the company reported rec ord earnings of Dollars 233m, compared with Dollars 206m in the third quarte r of 1992. The figures reflected solid earnings gains in consumer finance an d retirement annuities, but a decline in profits from the door-to-door insur ance business. An agreement to settle outstanding asbestos-related claims, r eached in August, led to a Dollars 130.6m third-quarter loss at Chubb, compa red with a Dollars 146.1m after-tax profit a year before. Excluding the Doll ars 357.5m charge, which Chubb had announced previously, the company made an underwriting profit on property/casualty business of Dollars 17.1m, compare d with a Dollars 10.3m loss the previous year. Companies:- Allstate Insurance. Countries:- USZ United State s of America. Industries:- P6331 Fire, Marine, and Casu alty Insurance. P6311 Life Insurance. Types:- FIN Interim results. The Financial Times London Page 27 ============= Transaction # 284 ============================================== Transaction #: 284 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 51 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: FT924-9611 _AN-CKFB8AHWFT 9211 05 FT 05 NOV 92 / International Company News: Reliance i mproves Meanwhile, Mr Saul Steinberg's Reliance Group Hol dings, the investment and insurance company, reported a Dollars 1.3m profit after tax in the third quarter of 1992. It said results had been depressed b y Dollars 41.7m of pre-tax losses relating to Hurricane Andrew, which cut ne t income by Dollars 27.5m. However, in Reliance's case, the tiny profit mark ed an improvement on the Dollars 126.3m loss seen in the same period of 1991 . The Financial Times London Page 28 ============= Transaction # 285 ============================================== Transaction #: 285 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 52 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: FT941-10842 _AN-EBHC6ABGFT 940 208 FT 08 FEB 94 / LA quake 'set to cost insurers about Dollars 2.5bn' By RICHARD WATERS NEW YORK The Los Angeles earthquake last month is se t to cost the insurance industry Dollars 2.5bn (Pounds 1.69bn), the third la rgest insured losses after hurricanes Andrew and Hugo, according to an insur ance trade association estimate yesterday. The estimate of losses, from Prop erty Claims Services, is at the high end of other, less well-informed estima tes in recent days. These have put the cost to insurers at anything from Dol lars 1bn to Dollars 3bn. The association's figures are compiled from informa tion supplied by 30 insurance companies and an analysis of the association's database, which carries details of the level of property insurance cover in the affected area. They are generally regarded in the insurance world as th e most accurate picture available of the final cost of the earthquake. Accor ding to the association, about a third of home-owners in the area, and a sli ghtly higher proportion of businesses, have earthquake coverage. The high co st of such insurance, and the large deductibles born by people with cover, h as discouraged many from buying insurance. The industry is anticipating abou t 230,000 claims as a result of the earthquake, many of them from causes oth er than direct shock damage, including damage by fire, explosion and broken glass. If the association's estimate proves accurate, and if Congress approv es the proposed Dollars 8.6bn federal relief plan for the area, then total o utside help for California will reach about Dollars 11bn. The rest of the ea rthquake's cost will be born by property owners or taxpayers in California. California Governor Pete Wilson said last month that the total cost of the q uake could be anywhere between Dollars 15bn and Dollars 30bn. Hurricane Andr ew, in southern Florida and the Gulf of Mexico in 1992, cost insurers Dollar s 15.5bn; Hugo cost Dollars 4.2bn. Countries:- USZ U nited States of America. Industries:- P63 Insurance C arriers. Types:- NEWS General News. The Fin ancial Times London Page 6 ============= Transaction # 286 ============================================== Transaction #: 286 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 53 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: FT924-6225 _AN-CKWCKAAWFT 9211 23 FT 23 NOV 92 / Tornadoes kill 16 in US By REUTER JACKSON At le ast 16 people were killed and more than 200 injured in Mississippi, Tennesse e and Alabama after a series of tornadoes and storms ripped across the south ern US early yesterday, Reuter reports from Jackson. The death toll exceeded that of Hurricane Andrew, which struck Florida and Louisiana in late August and caused 13 deaths. Officials estimated damage will be in the millions an d thousands of residents from Texas to Georgia were without power. < PUB>The Financial Times London Page 5 ============= Transaction # 287 ============================================== Transaction #: 287 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 54 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: FT923-764 _AN-CI0ADACDFT 92092 6 FT 26 SEP 92 / Markets: Insurance dividend gone with t he wind - Wall Street By MARTIN DICKSON IT IS ONE of those curious cases of bad news being good news. On Thursd ay, Continental Corporation, which ranks 12th among US property and casualty insurers, announced that it was slashing its dividend for the first time si nce 1853 and taking Dollars 320m of pre-tax charges, mainly because of catas trophe insurance policy losses. The culprits were Hurricane Andrew, which to re through Florida and Louisiana last month leaving some Dollars 20bn of dam age, and Hurricane Iniki, which has just devastated one of the Hawaiian isla nds. The company also said it would withdraw from the reinsurance business, and from its relatively small international operations, to concentrate on it s core business. These actions would account for Dollars 120m of the special charges. Continental's stock plunged by nearly 19 per cent on the day. The shock to the market was particularly severe because Continental's traditiona lly high dividend has made it attractive to investors. Even as Continental w as plunging, the rest of the insurance sector began to rally smartly. The re ason: analysts argued that its dividend cut was the firmest evidence yet tha t the property / casualty insurance cycle might at last be changing for the better. High quality reinsurance stocks, such as General Re, rose particular ly strongly. 'I don't think anybody can say until three or four months from now that the turn occurred on September 24,' said Frederick Sandburg, an ana lyst at Kemper Securities, 'but the stocks are trying to tell you this is a significant event.' Property / casualty business insurance premiums in the U S have fallen by around 40 per cent over the past five years as companies ha ve engaged in aggressive rounds of price-cutting. The growing belief is that the weaker companies, reeling from Andrew and Iniki, will be forced to put up rates to rebuild depleted capital, and that others will happily follow su it. There have been plenty of false dawns before. Several US catastrophes, s uch as last spring's Los Angeles riots, have been hailed as the turn in the cycle, but the sheer scale of this year's hurricane losses means that the ti me may have finally arrived. Only the day before Continental's move, the mig hty Prudential Insurance Company of America quadrupled its estimate of losse s from Hurricane Andrew to more than Dollars 1bn, which led Standard & Poor' s the rating agency, to put the group's top-notch triple-A credit rating on review. Another straw in the wind, suggesting the cycle may have turned, was an announcement at the start of the week that Primerica, the financial serv ices group run by Sanford Weill, was to take a 27 per cent stake in Traveler s, one of America's largest life insurers, with a sizeable property / casual ty business as well. Travelers went on a real estate lending spree in the 19 80s that has left it with one of the worst property portfolios in the indust ry. It has spend months looking for an investor who would inject cash into t he business and bolster its credit ratings, which have fallen worrying close to losing investment grade status. Enter Weill, regarded as one of the cann iest investors on Wall Street. He spent the 1960s and 1970s putting together a group of small brokerages which he sold to American Express for over Doll ars 900m in 1981, and he has spent the last few years building the Primerica group into one of America's most profitable financial services businesses. He has bought his stake for a good price - less than half stated book value -and he will clearly be playing a big role in revitalising the insurance co mpany: Primerica will get four seats on the 16-person Travelers board and We ill will chair the company's finance committee. Wall Street liked the deal a nd Travelers' stock soared. But even with his magic touch, Weill faces a lon g battle to turn Travelers around. He too is betting that the insurance cycl e is on the turn. That is a powerful endorsement of Wall Street's hunch. Whi le insurance stocks soared, the week saw the automobile sector move out of f avour as analysts weighed up further signs of a painfully slow US recovery a nd a flagging European market. The equity market as a whole continued to be buffeted and bewildered by the wild currency gyrations in Europe, mounting f ears of disappointing third quarter earnings, and growing uncertainty over t he presidential election, amid signs that Ross Perot might be about to re-en ter the race. Yesterday morning brought another batch of bearish economic st atistics. But while all these chills winds send the market twirling and dipp ing, it is still groping for a clear sense of direction. ------------------ ------------- Monday 3320.83 - 6.22 Tuesday 3280.85 - 39.98 Wedn esday 3278.69 - 2.16 Thursday 3287.87 + 9.18 Friday 3250.32 - 37.55 ------------------------------- The Financial Times

London Page II ============= Transaction # 288 ============================================== Transaction #: 288 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 55 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: FT924-9612 _AN-CKFB8AHVFT 9211 05 FT 05 NOV 92 / International Company News: Loews slum ps Loews Corporation, which is headed by Mr Laurence Tisc h, saw third-quarter after-tax profits in the three months to end-September slump from Dollars 205.4m a year ago, to Dollars 128.6m, on revenues of Doll ars 3.42bn (Dollars 3.36bn). Loews said it had incurred a charge of Dollars 109.7m at its CNA multi-line insurance subsidiary, due to insurance claims f rom Hurricane Andrew. After-tax profits for the first nine months of the yea r stand at Dollars 601.5m, against Dollars 632.1m in the same period of 1991 . The Financial Times London Page 28 ============= Transaction # 289 ============================================== Transaction #: 289 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 56 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: FT941-14780 _AN-EASC7AA9FT 940 119 FT 19 JAN 94 / Damage in quake may far exceed Dollar s 7bn high By RICHARD LAPPER The US insurance industry warned yesterday property damage from the Los Angeles ea rthquake could far exceed the record Dollars 7bn (Pounds 4.70bn) from the 19 89 San Francisco earthquake. 'The area affected is larger, more expensive ho mes were damaged and a larger number of businesses were hurt,' said Ms Rhond a Ruch of A M Best. 'While we have no numbers available yet, we feel the tot al property damage will far exceed Dollars 7bn and insured losses will be gr eater than Dollars 1bn, which is about the amount of damage caused by the Sa n Francisco earthquake,' she said. However, Lloyd's of London underwriters y esterday played down the likely impact on their business. Lloyd's said the ' final total of insured losses to be eventually borne by the market will not have a major impact.' One underwriter who specialises in catastrophe reinsur ance for US companies said: 'I am very relaxed about it.' The majority of Ll oyd's underwriters tend to specialise in high-level catastrophe covers. Thes e policies would be triggered only if an insured loss were big enough to lea d US insurance companies to claim on their own reinsurance. 'It really needs to be a loss of Dollars 5bn or more for it to have an impact in London,' sa id one underwriter. Insured losses are expected to be limited partly because of the limited take-up of earthquake cover by Los Angeles residents. In tur n reinsurers are optimistic their share of the loss will be minimal, partly because some big US insurers have tended to buy less reinsurance protection in recent years. Since hurricanes Hugo and Andrew in 1989 and 1992, London u nderwriters restricted the scope of coverage offered - excluding power lines , for example, from their policies. In contrast to the generally relaxed att itude at Lloyd's, one underwriter sounded a note of caution, recalling that Hurricane Andrew, where losses were originally estimated at Dollars 3bn, eve ntually cost insurance markets more than Dollars 16bn. Companie s:- Lloyd's of London. Countries:- USZ Unite d States of America. Industries:- P6411 Insurance Agent s, Brokers, and Service. Types:- INS Insurance. The Financial Times London Page 4 ============= Transaction # 290 ============================================== Transaction #: 290 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 57 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: FT924-15058 _AN-CJGCCAA0FT 921 007 FT 07 OCT 92 / M&G to seek rises in profit margins < /HEADLINE> By RICHARD LAPPER MERCANTILE & Gener al Reinsurance, the subsidiary of Prudential Corporation and the UK's bigges t reinsurance company, is prepared to reduce its share of the general reinsu rance business if it is unable to obtain satisfactory rate increases. 'If we fail to turn the market, we will turn away from it,' said Mr John Engestrom , the chief executive who took office in July. 'In the light of continuing l osses and with minimal evidence of a significant hardening of the market, we intend to adopt a tough stance on imminent renewals.' With net premium inco me of about Dollars 1.4bn (Pounds 780m) in 1991, M&G is the 10th largest rei nsurer in the world, although some 65 per cent of earnings are generated by life reinsurance. Mr Engestrom accepted that the company's rating stance wou ld lead to a sharp reduction in market share next year. Rates from catastrop he reinsurance, marine and aviation business - in which Lloyd's of London an d London market companies specialise - have increased, but elsewhere reinsur ance rates were not increasing by a sufficient margin to guarantee profitabi lity, he said. Softness in rates for proportional business - in which reinsu rers insure a fixed percentage of risks insured by direct insurers - reflect ed low rates in direct business, both in North America and Europe. Markets i n Germany, Italy and elsewhere in Europe had been 'slow to react' to increas es in claims, said Mr Engestrom. Mr Engestrom said that since the Prudential had published its interim results last month 'there had been a deterioratio n in the company's general business'. Losses at the interim stage amounted t o Pounds 25m, compared with Pounds 2m at the same stage last year. Claims fr om hurricane Andrew, which hit the US in late August, and hurricane Iniki, w hich devastated Hawaii last month, amount to about Pounds 30m. M&G announced last month that it expected claims of some Pounds 20m. The group expects fu rther losses on its LMX retrocession business underwritten between 1987 and 1990 - in which London market companies and Lloyd's syndicates reinsure each other's catastrophe exposures. It is keen to increase its share of the less volatile and more profitable life reinsurance market. Lex, Page 20 The Financial Times London Page 21 ============= Transaction # 291 ============================================== Transaction #: 291 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 58 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: FT924-7937 _AN-CKMB5AEHFT 9211 13 FT 13 NOV 92 / Royal Insurance cuts losses by 60% to Pounds 83m By RICHARD LAPPER FURTHE R evidence of a recovery in the UK insurance sector emerged yesterday when R oyal Insurance, the composite (general and life) insurer, reported reduced l osses for the nine months ending September 30. Pre-tax losses were cut by 60 per cent to Pounds 83m compared with Pounds 214m in the same period of 1991 . General insurance losses of Pounds 96m (Pounds 207m) were offset by higher life profits Pounds 38m (Pounds 37m) and a lower interest burden Pounds 25m (Pounds 44m). The announcement prompted a positive reaction from the market s and the share price rose by 21p to close at 247p. The company's performanc e in the third quarter was substantially better, with pre-tax losses cut to Pounds 4m as against Pounds 117m last year when it made heavy provisions for mortgage indemnity losses. Improvements in the domestic UK market underpinn ed the result. General insurance losses in the nine months fell to Pounds 57 m, from Pounds 227m. In the third quarter, for the first time since June 199 0, the company produced a pre-tax profit on general insurance of Pounds 16m, compared with a loss of Pounds 123m a year earlier. For the nine months, do mestic mortgage indemnity business continued to be a problem area, but losse s fell to Pounds 136m from Pounds 173m. Losses on personal motor insurance f ell from Pounds 28m to Pounds 2m, as a result of higher premiums, reduced ex posures and lower claims frequency. Losses from commercial property policies rose Pounds 1m to Pounds 27m, mainly due to the impact of the IRA bombs in London last April. Elsewhere, US business produced a Pounds 12m profit compa red with a Pounds 14m loss last year, in spite of the impact of hurricanes A ndrew and Iniki. Total group losses from these events are estimated at Pound s 35m. Royal UK lost Pounds 2m from the hurricanes, mainly due to claims fro m Grand Metropolitan, whose Burger King buildings in Florida were damaged. R oyal International recorded a pre-tax profit of Pounds 14m against Pounds 4m in 1991, but profits at Royal Canada fell to Pounds 22m, from Pounds 31m, a nd pre-tax losses at Royal Reinsurance rose from Pounds 11m to Pounds 41m. R oyal has reduced staff numbers worldwide by 2,500 since the beginning of the year, with 1,170 jobs cut in the UK. Lex, Page 16 The Financia l Times London Page 29 ============= Transaction # 292 ============================================== Transaction #: 292 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 59 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: FT933-14801 _AN-DGMB6ABCFT 930 713 FT 13 JUL 93 / Washington to foot the bill: Number o f claims will rise as the waters fall By NIKKI TAIT MOST OF the insurance cost resulting from the Mississippi f loods will be picked up by the federal government, under the National Flood Insurance Programme and a separate federally-run crop insurance scheme. The Federal Insurance Administration, which runs the National Flood Insurance Pr ogramme, said yesterday it could not yet put a figure on the cost of the dis aster in insurance terms. By Friday, it had received 41 claims in Illinois, where it has around 3,600 policyholders, about 29 claims in Missouri, where there are more than 7,300 policyholders, and smaller numbers of claims from Wisconsin, Iowa and Minnesota. However, these numbers are expected to increa se once the waters have receded and the extent of the damage becomes clearer . The National Flood Insurance Programme, which began life about 25 years ag o, is administered by private sector insurers, who pay out claims and are th en reimbursed by the federal authorities. Over the past eight years, the pro gramme has been self-funding, according to the American Insurance Associatio n - with premiums collected from policyholders meeting the claims submitted. Both the Federal Insurance Administration and the AIA acknowledge that ther e may be substantial under-insurance - or non-insurance - in flood-affected areas. The AIA estimates that there are about 10m buildings in the nation's flood plains, and that only about 2.5m are covered by federal insurance. The re is virtually no private-sector flood insurance written, although some sup plementary coverage is sometimes purchased to top up the federal scheme. As a result, a number of the largest US property-casualty insurers, who suffere d multi-billion-dollar losses from Hurricane Andrew in August last year and Hurricane Hugo in 1989, said the Mississippi situation should cause them lit tle problem. 'Much of the flooding situation is covered by federal governmen t, and we're a relatively small player on the commercial side,' said Allstat e, the large Chicago-based property-casualty insurer. Countries :- USZ United States of America. Industries:- P6331 Fire, Marine, and Casualty Insurance. P9229 Public Order and Saf ety, NEC. Types:- RES Natural resources. Th e Financial Times London Page 4 ============= Transaction # 293 ============================================== Transaction #: 293 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 60 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: FT944-12299 _AN-EKBD9AC3FT 941 102 FT 02 NOV 94 / Business and the Environment: Insurer s in a storm By NANCY DUNNE Fifteen catastrophic hurricanes, floods and storms cost worldwide insurers more tha n Dollars 80bn (Pounds 50bn) since a period of weather extremes set in five years ago, according to an article in the latest World Watch Institute's jou rnal. In 1992, Hurricane Andrew struck Florida and set a new record for dama ges at Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ e was hit by four severe windstorms in 1990 which accumulated damages of Dol lars 10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 5bn in damages. As the damages mount, insurers have begun to take seriously the global warming theory advanced by many scientists. The fear is that the warming, spurred by 'greenhouse gases', produced by fossil fuels, could seri ously disrupt the world's atmospheric and oceanic systems. Lack of agreement in the scientific community has made the insurers wary. But their interest is being applauded by environmentalists who see the insurers as a potential counterweight to the power of the oil and coal interests in the global warmi ng debate. Christopher Flavin, author of the World Watch article, is urging the insurers to enter the struggle over climate policy. 'Few industries are capable of doing battle with the likes of the fossil fuel lobby. But the ins urance industry is,' he says. 'On a worldwide basis the two are of roughly c omparable size and potential political clout.' The insurance industry could, for example, push government to tighten energy efficiency rules for new bui ldings. It could actively lobby for a stronger global climate pact. It could also use its investment capacity. 'If they (companies) were to dump some of their stocks in oil and coal companies or actively invest some of their fun ds in new, less carbon-intensive energy technologies (forming a sort of clim ate venture fund), insurance companies could spur the development of a less threatening energy system,' says Flavin. Unless the industry begins to use i ts clout in the struggle over climate policy, its future 'is likely to be st ormy indeed', said Flavin. Countries:- XAZ World. Industries:- P6331 Fire, Marine, and Casualty Insurance. P951 Environmental Quality. Types:- CMMT Comment & Analysis. The Financial Times London Page 18 ============= Transaction # 294 ============================================== Transaction #: 294 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 295 ============================================== Transaction #: 295 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 61 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: FT923-5089 _AN-CIEAPAA8FT 9209 03 FT 03 SEP 92 / Bush calls on power to dispense larges se: Hurricane's aid to the president By JUREK MARTIN and NIKKI TAIT THERE are growing signs that Hurricane Andr ew, unwelcome as it was for the devastated inhabitants of Florida and Louisi ana, may in the end do no harm to the re-election campaign of President Geor ge Bush. After a faltering and heavily criticised initial response to the di saster, both the president and his administration seem finally to be getting assistance to those rendered homeless and to businesses and farms that have been destroyed. In the process, Mr Bush has been able to call on the power of incumbency, the one asset denied his presidential rival, Mr Bill Clinton, who is to visit Florida today. This was brought home graphically by the pre sident's announcement that Homestead Air Force base in Florida - a major loc al employer virtually destroyed by Andrew - would be rebuilt. His poignant and brief address to the nation on Tuesday night, committing the government to pay the emergency relief costs and calling on Americans to contribute to the American Red Cross, also struck the right sort of note. It was only his tenth such televised speech from the Oval Office, itself a testimony to the gravity of the situation. As if to underline the political benefit to the pr esident, a Harris poll conducted from August 26 to September 1 yesterday sho wed Mr Bush with 45 per cent support - behind Mr Clinton by just five points - reflecting a closer race than other recent surveys. With Mr Bush constant ly in the headlines, Mr Clinton has been left on the sidelines, able to do l ittle more than offer sympathy and sotto voce criticism of the president's i nitial stumbling. First responses were certainly found wanting, specifically in the performance of the Federal Emergency Management Agency (FEMA) set up by President Carter in 1979 to handle disasters such as Andrew. FEMA has, u nder the Republicans, become the ultimate patronage backwater, with, accordi ng to one congressional study, ten times as many political appointees as the typical arm of government. Its current head, Mr Wallace Stickney, is a New Hampshire political associate of Mr John Sununu, the former state governor a nd White House chief of staff. Contrary to its brief, but confirming a presc ient recent report by a House committee that Mr Stickney was 'uninterested i n substantive programmes', FEMA was caught completely unprepared by Andrew, resulting in unseemly disputes between state and federal authorities over wh o did what in bringing relief. However, the arrival in Florida of the milita ry and the assignment of special responsibilities to Mr Andrew Card, the you ng and telegenic transportation secretary, is making a difference. Also incr easingly evident is the hand of Mr James Baker, now ensconced at the White H ouse. It was Mr Baker who reshuffled the president's campaign schedule to ma ke room for visits to the devastated areas and who pushed for a bigger role for the previously obscure Mr Card. It is also Mr Baker who is making the mo st of presidential powers to dispense largesse. Yesterday, Mr Bush flew to S outh Dakota to tell farmers of an expansion of the subsidised grains exports programme and then to the General Dynamics factory in Texas to announce an F-16 fighter sale to Taiwan. Both are, of course, intensely political action s. Both involve federal subsidies, as does relief for Andrew, that run count er to Mr Bush's commitment to reduce the budget deficit. But both may be pre sented by a president as being in the national interest because they guarant ee employment, which is what the election is largely about. US insurers expe ct to pay out around Dollars 500m in claims as a result of damage caused by Hurricane Andrew in Louisiana, the American Insurance Services Group said ye sterday, Nikki Tait reports. This takes the insurance bill from the storm to around Dollars 8bn, making it the costliest disaster to hit the US. The Financial Times London Page 7 ============= Transaction # 296 ============================================== Transaction #: 296 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 62 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: FT923-671 _AN-CI0ADAE5FT 92092 6 FT 26 SEP 92 / Economic recovery in US falters: Figure s show broad weakness By MICHAEL PROWSE and AP WASHINGTON A CROP of economic reports yesterday made grim reading for the Bush administration. Orders for durable goods, personal incomes and home sales all fell last month, underlying the f ragility of the sluggish US economic recovery. New orders for durable goods fell 0.1 per cent following a 2.7 per cent decline in July, the Commerce Dep artment said. The weakness was broadly based, with declines in primary metal s, industrial machinery and electronics. The overall drop would have been la rger but for a 4.2 per cent increase in the volatile transport sector. New o rders for non-defence capital goods - regarded as a reliable guide to trends in private investment - fell 3.7 per cent, after a decline of 5.4 per cent in July. Personal income fell 0.5 per cent last month but the figures were h eavily distorted by Hurricane Andrew, which reduced rental incomes, damaged crops and cut wages. But for hurricane damage, personal income would have ri sen by 0.7 per cent last month, officials claimed. Personal consumption spen ding fell 0.1 per cent last month, before allowing for inflation, underlying the weakness of consumer morale. The housing market also remains sluggish. Sales of existing (as opposed to new) homes fell 3.2 per cent last month, de spite a decline in mortgage rates to the lowest levels for 20 years. Analyst s remain apprehensive about the outlook for housing despite a report this we ek of a freakish 10 per cent rise in housing starts last month. Long-term in terest rates have begun to rise again in recent weeks, forcing up the cost o f mortgages. The Senate yesterday rejected President Bush's plan to allow Am ericans to direct that 10 per cent of their taxes be used for deficit reduct ion, AP reports from Washington. Opponents said it could shut down the feder al government. The Senate defeated the proposal, advanced by Mr Bush at the Republican convention last month, by 58 to 36. 'This is the magic potion tha t will destroy the federal government' by requiring a new series of virtuall y across-the-board spending cuts every year, said Sen Robert C. Byrd. He cal led the plan 'another brain-dead easy fix that eviscerates our future'. The chief sponsor, Sen Bob Smith, said if all taxpayers accepted Mr Bush's chall enge the Dollars 333bn deficit would be eliminated and the budget balanced w ithin five years. The Financial Times London Page 4 ============= Transaction # 297 ============================================== Transaction #: 297 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 63 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: FT922-4505 _AN-CFEA9ABVFT 9206 05 FT 05 JUN 92 / Observer: Swiss courage Switzerland's reputation for security and stability has taken knocks la tely. But Zurich Insurance, one of the biggest of its kind in Europe, wants to leave no doubt about its continuing strength. Asked how it would shape up to the most damaging sequence of disasters imaginable, chief executive Rolf Huppi was pat with the answer. The worst he could think of, he replied, was the California coast sliding into the ocean followed by a massive earthquak e in Tokyo, a hurricane sweeping up the US eastern seaboard, and torrential storms swamping western Europe. 'Then we would flinch,' he said . . .but has tily added: 'I don't think it would kill us." The Financial Tim es London Page 19 ============= Transaction # 298 ============================================== Transaction #: 298 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 64 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: FT943-12121 _AN-EG1ANABLFT 940 727 FT 27 JUL 94 / Gooda Walker hearing ends The High Court action brought by 3,095 Lloyd's Names against Gooda W alker syndicates ended yesterday. Mr Justice Phillips reserved judgment. He is not expected to announce his decision before September. The Names suffere d losses between 1988-90 as a result of a sequence of disasters including th e explosion of the Piper Alpha oil platform in 1988, Hurricane Hugo in the U S, the Exxon Valdez oil spill and the European storms of early 1990. The Nam es are suing for the return of Pounds 629m. Companies:- < CO>Gooda Walker. Countries:- GBZ United Kingdom, EC. < /CN> Industries:- P9211 Courts. Types:- COMP Company News. The Financial Times London Page 6 ============= Transaction # 299 ============================================== Transaction #: 299 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 65 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: FT942-3393 _AN-EFODGAB7FT 9406 15 FT 15 JUN 94 / Gooda underwriting was unsustainable: Former chairman admits survival of agency depended on absence of catastrophe s By JOHN MASON, Law Courts Correspondent The underwriting policy adopted by Mr Derek Walker, the former chairm an of the Gooda Walker managing agency, was 'unsustainable', he agreed in th e High Court yesterday. Gooda Walker's syndicate 290, which specialised in h igh-risk insurance underwritten by Mr Walker, was unable to cope with a seri es of catastrophes, he admitted. Mr Walker was giving evidence in the High C ourt action brought by more than 3,000 Lloyd's Names who allege incompetence by the agents, who they are suing for Pounds 629m. Questioned by Mr Geoffre y Vos QC, for the Names, Mr Walker said the frequency of losses in the exces s loss market - including Hurricane Hugo and a storm in the UK - was respons ible for the substantial losses suffered by the syndicate in 1990. 'So, was your writing generally, your syndicate's business, really dependent on there not being catastrophes?' Mr Vos asked. 'Yes,' Mr Walker replied. 'And we se e that when there are catastrophes, the business is destroyed?' 'Correct,' M r Walker said. Later, Mr Walker agreed with the judge, Mr Justice Phillips, that he wrote lines of insurance assuming that they would not be claimed aga inst. Mr Vos suggested that his underwriting strategy was therefore unsustai nable. 'Correct,' Mr Walker said. Mr Walker agreed that in spite of experien ce with Hurricane Hugo, when claims exceeded reinsurance levels, he decided not to increase the reinsurance for syndicate 290. Mr Vos asked: 'You did no t think there was any need to increase your reinsurance?' Mr Walker replied: 'I would not have been able to increase it.' Mr Vos: 'So, it was a matter o f the cart driving the horse, in the sense that you could not have done anyw ay, even if you wanted to?' Mr Walker: 'I think that would be the position, yes.' Mr Walker agreed that in the case of syndicate 164, there was nothing in the published accounts from 1982 onwards to warn the syndicate was high r isk. Mr Vos later accused Mr Walker of exaggerating when he claimed he and h is family had been ruined when they lost Pounds 1.5m on the insurance market . Mr Walker agreed that in 1988, 1989 and 1990 he, his wife and son had been paid a total of Pounds 1.9m by Gooda Walker. Companies:- Gooda Walker. Countries:- GBZ United Kingdom, EC. Industries:- P9211 Courts. Types:- COMP Company News. The Financial Times London Pa ge 10 ============= Transaction # 300 ============================================== Transaction #: 300 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 66 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: FT931-9982 _AN-DBKB3ABTFT 9302 11 FT 11 FEB 93 / International Company News: US insurer s report heavy losses By PATRICK HARVERSON NEW YORK AETNA Life & Casualty and Travele rs, two of the largest composite insurers in the US, yesterday reported heav y fourth-quarter losses, following a variety of special charges both compani es had announced last week. Travelers incurred the bigger loss for the final quarter of 1992 - Dollars 589m, compared with a profit of Dollars 69m a yea r earlier - in the wake of several charges, including: Dollars 485m to cover a Dollars 735m addition to property and mortgage loan reserves; Dollars 59m for costs linked to Hurricane Andrew; and Dollars 79m related to litigation and assesments for industry guarantee funds. The large quarterly loss meant that Travelers reported a deficit of Dollars 658m for all of 1992, compared with a profit of Dollars 318m in 1991. Apart from the charges outlined in t he fourth quarter results, the insurer had taken other charges earlier in th e year to cover the cost of meeting Hurricane Andrew claims and to pay for a corporate restructuring. Separately, Travelers last year booked a Dollars 1 70m one-off gain related to the adoption of two new accounting standards. At Aetna, the fourth-quarter loss totalled Dollars 192m after the company took a Dollars 180m charge to boost reserves for asbestos and environmental clai ms. In the same quarter last year, Aetna recorded a net profit of Dollars 93 m. For all of 1992, the insurer reported net income of only Dollars 56m, dow n sharply from the Dollars 505m profit made in 1991. Aside from the charges, Aetna said its fourth-quarter and full-year results were affected by high c atastrophe losses, poor workers compensation results, depressed commercial p roperty values, and continued soft pricing conditions in its main domestic i nsurance markets. The one bright spot was the company's health business, alt hough even there Aetna's 1992 earnings were well down on the previous year. Because the special charges and quarterly losses had been well flagged in ad vance, the stock markets displayed little reaction to the news from Traveler s and Aetna. Companies:- Aetna Life and Casualty. Travelers Corp. Countries:- UnZited States of America. Industries:- P6311 Life Insurance. P6411 Insurance Agents, Brokers, and Service. P6211 Security Brokers and Dealers. P 6159 Miscellaneous Business Credit Institutions. Types:- COMP Company News. FIN Interim results. The Financial Tim es London Page 27 ============= Transaction # 301 ============================================== Transaction #: 301 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 67 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: FT924-11716 _AN-CJYAZADXFT 921 024 FT 24 OCT 92 / International Company News: GAN profi ts sharply lower after six months By WILLIAM DAWKINS PARIS GROUPE GAN, the third-larg est French state-owned insurer, has announced that profits almost halved in the first six months, due to a rise in car thefts and industrial accident cl aims and an increase in bad debts at CIC, its banking unit. GAN's net profit s slid from FFr962m in the first half of 1991 to FFr487m (Dollars 94.56m) in the same period of this year, on premium income up by 11.9 per cent to FFr2 1.9bn over the same period. GAN warned that, barring an economic recovery, f ull-year profits would be down sharply because of the extra claims from Hurr icane Andrew and the recent floods in southern France. The Fina ncial Times London Page 10 ============= Transaction # 302 ============================================== Transaction #: 302 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 68 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: FT931-7520 _AN-DBXCKACQFT 9302 24 FT 24 FEB 93 / Business and the Environment: Weather wise - Typhoons, hurricanes and the threat of global warming are pushing up insurance rates By RICHARD LAPPER and BRONWEN MADDOX 'WE GET zapped every five minutes,' says Richard Keeling, underwriter with Lloyd's syndicate 362, reviewing the impact of recent hurri canes, gales and typhoons on the London insurance market. Recent storms, eac h more damaging than the last, culminated in last year's hurricane Andrew, w hich devastated parts of Louisiana and Florida and caused losses estimated t o be at least Dollars 16bn and perhaps as much as Dollars 20bn (Pounds 14bn) , the United States's biggest-ever insured loss. That has triggered tough ba rgaining in the London insurance market and one of the hardest 'renewal' sea sons, as reinsurers seek to impose big rate increases. Most significantly, i n a move that could lead to higher insurance rates for many years, insurers are also beginning to ask whether recent storms are a sign of global warming or other long-term shifts in weather patterns. The question has led to an u nlikely convergence with environmental pressure groups such as Greenpeace, w hich last month published a long report welcoming insurers' alertness to the risk. In the recent round of negotiations, brokers buying cover for US clie nts - who have avoided heavy increases in recent years - have found the goin g toughest. However, across the board, direct insurers are now paying more f or their reinsurance. Keeling says that since October 1987, reinsurance rate s have increased by 650 per cent for European insurers, 450 per cent for US buyers and by 1,000 per cent for Japanese companies. The increases partly re flect reinsurers' efforts to restore profitability after heavy losses from w eather and from other disasters such as the 1988 Piper Alpha oil rig explosi on and the Exxon Valdez oil spill the following year. Both Swiss Re and Muni ch Re, the world's two biggest reinsurers, have seen profits dented and have been forced to draw deep into their reserves to meet claims, especially fro m the European storms of 1990. Many smaller reinsurers have withdrawn from t he market. More than a third of Lloyd's Names and nearly half the syndicates have left the market since 1989. As competition for business has dwindled, bigger players have found it easier to force through rate increases. Underwr iters are also now beginning to take a deeper look at the risk of storm dama ge. They recognise that denser population in potentially exposed regions, su ch as the south-eastern coast of the US, is partly responsible for the rise in losses. 'Windstorm' cover has also become a more common element of househ olders' policies over the last two decades in most countries. And increasing ly many are questioning whether the recent increases in land and sea tempera tures are leading to greater atmospheric instability and more frequent and i ntense winds. Scientists have warned for several years that gases such as ca rbon dioxide, emitted from burning fossil fuels, could cause global warming. The United Nation's Intergovernmental Panel on Climate Change, set up to in vestigate the phenomenon, has suggested the average increase could be somewh ere between 1.5'C and 3.5'C over the next 100 years. However, scientists hav e emphasised there is still uncertainty about the processes involved - the m odels find it hard to take account of clouds, which could slow down warming. They also say it is impossible to conclude from recent storms and warm summ ers that climate change is already happening. Despite scientific uncertainty , insurers feel they need to protect themselves. Walter Kielholz, general ma nager of Swiss Re, one of the first insurance companies to question whether global warming could be responsible for worsening weather, agrees that 'the statistical data is too short to conclusively prove that there is a trend'. But he adds: 'It might just be a hiccup but we can't afford to wait for the long-term before taking action.' Research commissioned by Keeling and severa l other Lloyd's underwriters by the University of East Anglia's climatology department also concludes: 'The possibility that the trend (of more frequent gales in north-western Europe) is related to global warming cannot be rejec ted.' Insurers should assume that 'gale frequencies will remain at the level of the 1980s' and could rise further, the report says. In Greenpeace's rece nt study, the pressure group called for insurers to join the lobby for limit s on the emission of 'greenhouse gases'. Keeling acknowledges: 'We have to d o something constructive but the insurance industry will never be a lobby. W e are too diffused.' Instead, as well as increasing rates insurers have begu n to toughen the terms of storm insurance. Kielholz says that since 1990 Swi ss Re has begun to isolate the risk of 'windstorm' from other exposures it u nderwrites. The group now likes to cover windstorm through an excess of loss reinsurance contract (in which the reinsurer covers a tranche of risk up to a pre-set limit) rather than by covering it alongside other risks as part o f a proportional reinsurance deal (in which the reinsurer accepts an agreed percentage of exposure). 'Reinsurers have become more and more reluctant to include windstorm in proportional property treaties,' says Kielholz. Reinsur ers are also urging direct insurers to make policyholders pay the first port ion of any loss themselves, as an incentive to protect their property agains t storms. Householders would then be more likely to carry out essential main tenance and commercial customers to follow building codes more strictly, the y argue. During Hurricane Andrew many new buildings, especially those with s teel frames and metal casings, proved to be particularly vulnerable to wind damage, according to Swiss Re. Higher rates and tougher terms are the insura nce industry's perhaps unsurprising response to recent storms and the potent ial threat of global warming. The environmental movement has shown itself re luctant to acknowledge scientific doubts about climate change, while climato logists - who might stress that uncertainty - have few reasons to get involv ed in debates on insurance charges. Customers may have to hope the new highe r rates help preserve some of the financially weaker groups, and so preserve competition in the industry. --------------------------------------------- -------------------- THE COST OF RECENT STORMS --------- -------------------------------------------------------- Aug 1992 US Cyclone Iniki Dollars 1.4bn Aug 1992 US Hurricane Andrew Dollars 20.0bn Sep 1991 Japan Typhoon Mi reille Dollars 4.8bn Jul 1990 US Colorado storms Do llars 1.0bn Feb 1990 NW Europe Windstorm Wibke Dollars 1.3b n Feb 1990 NW Europe Windstorm Vivian Dollars 3.2bn Feb 1990 NW Europe Windstorm Herta Dollars 1.3bn Jan 1990 NW Europ e Windstorm Daria Dollars 4.6bn Sep 1989 US Hurricane Hugo Dollars 5.8bn Oct 1987 NW Europe Un-named wi ndstorm Dollars 2.5bn ---------------------------------------------------- ------------- Source: Greenpeace ------------------------------------------ ----------------------- Countries:- GBZ United Kingd om, EC. Industries:- P6331 Fire, Marine, and Casualty I nsurance. P6411 Insurance Agents, Brokers, and Service. Types :- RES Natural resources. COSTS Costs & Prices. MKTS Ma rket data. The Financial Times London Page 14 ============= Transaction # 303 ============================================== Transaction #: 303 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 69 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: FT934-16876 _AN-DJDB4ADRFT 931 004 FT 04 OCT 93 / International Company News: Swiss Re lifts earnings to SFr281m By IAN RODGER ZURICH SWISS Reinsurance has reported a 5.6 p er cent rise in net earnings to SFr281m (Dollars 197m) for 1992 and has prop osed a share split and rights issue to raise SFr575m. The group, the world's second largest reinsurer after Munich Reinsurance, said gross premiums rose by 25.6 per cent last year to SFr21.9bn. However, about half of the growth in gross premiums came from changes in the scope of consolidation, mainly fr om including Elvia's figures for the first time. Net premiums rose 27 per ce nt to SFr20.7bn. The underwriting loss in non-life business soared by 43 per cent to SFr1.12bn, reflecting the impact of Hurricane Andrew and a generall y 'unfavourable experience' in the insurance business. Hurricane Andrew cost the group SFr500m. On the other hand, the underwriting income in life insur ance jumped 38 per cent. Financial income was 11.9 per cent up to SFr2.06bn. The management board has proposed splitting the company's SFr100 nominal re gistered and bearer shares at the rate of five for every one share held, and also converting the SFr20 nominal non-voting participation certificates int o registered shares. These moves are similar to those made by other quoted S wiss companies following a change in company law last year. Swiss Re said th e changes would promote liquidity of its share trading. The board is also pr oposing opening its share register to foreigners, but limiting all sharehold ers to a maximum of 3 per cent of the registered share capital. This too fol lows a trend aimed at overcoming the unhappiness of foreigners with being di senfranchised, while preventing hostile takeover bids. The rights issue will be on the basis of one new bearer or registered share, following the splits , for every 10 shares or participation certificates held. The price, expecte d to be about SFr475 a share, will be set on November 24. Swiss Re said that the funds would be used 'to support the growth in business anticipated for 1993 and subsequent years'. In August, the group joined with John Head & Par tners, a New York merchant bank, to create a new company, Partner Reinsuranc e, to specialise in natural catastrophe insurance. Swiss Re will contribute Dollars 100m to the Bermuda-based venture. Companies:- Swiss Reinsurance. Countries:- CHZ Switzerland, Wes t Europe. Industries:- P6331 Fire, Marine, and Casualty Insurance. P6411 Insurance Agents, Brokers, and Service. Typ es:- FIN Share issues. FIN Annual report. The Fin ancial Times London Page 17 ============= Transaction # 304 ============================================== Transaction #: 304 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 70 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: FT931-4836 _AN-DCICJAF0FT 9303 09 FT 09 MAR 93 / International Company News: Write-down s hit Uni Storebrand By KAREN FOSSLI OSLO UNI STOREBRAND, the Norwegian insurer, yest erday revealed a big loss in 1992 due to a NKr2.63bn (Dollars 373m) write-do wn on the group's 28 per cent stake in Skandia Forsak-rings, Sweden's bigges t insurer. Uni reported a consolidated pre-tax loss of NKr3.38bn against a p rofit of NKr471m in 1991. Last August, Uni collapsed into the hands of publi c administrators after failing to service NKr3.6bn in short-term debt accrue d to finance a failed raid on Skandia. Uni said it would strive to dispose o f the NKr4.7bn Skandia stake as soon as possible. Group net operating income rose slightly last year to NKr20.48bn from NKr19.54bn as operating costs re mained largely the same at NKr4.07bn. Mr Per Terje Vold, chief executive, sa id that, considering the difficult times which the group had experienced, th e results achieved by the life and non-life divisions were acceptable. 'We a re pleased to note that the results of the life and non-life insurance compa nies improved significantly during the last four months of the year,' Mr Vol d said. The life insurance division lifted premium income by NKr90m to NKr4. 74bn in 1992, but investment income fell by NKr387m to NKr4.99bn. Operating profit rose to NKr1.91bn from NKr1.09bn. The share portfolio was written dow n by NKr537m. The non-life business saw premium income in 1992 fall by 2.5 p er cent to NKr6.872bn as operating costs were cut by NKr128m to NKr1.8bn. Op erating profit rose to NKr345m from NKr281m. Uni said the non-life result wa s compromised by a NKr123m loss due to a hurricane which struck north-west N orway. It also suffered a NKr168m realised loss and write-down on the securi ties portfolio. The group's international business saw premium income rise b y 6.5 per cent to NKr4.702bn, but investment income fell by NKr175m to NKr32 3m. The division plunged into an operating loss of NKr546m last year, agains t a profit of NKr64m a year earlier. Uni said the poor result was due in par t to a NKr164m charge to cover damage resulting from hurricane Andrew. The i nternational business will engage in reinsurance business only while the mar ine, oil, satellite and liability operations are to be transferred to the no n-life business once approval is given by authorities. Mr Vold forecast an i mprovement in 1993 through cutting costs, increasing premiums and reducing t he risk profile of investments. Companies:- Uni Store brand. Countries:- NOZ Norway, West Europe. Industries:- P63 Insurance Carriers. Types:- < TP>FIN Annual report. The Financial Times London P age 24 ============= Transaction # 305 ============================================== Transaction #: 305 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 71 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: FT922-6694 _AN-CEVA2ACEFT 9205 22 FT 22 MAY 92 / International Company News: Los Angele s riots cost insurers Dollars 775m By NIKKI TAIT THE recent riots in Los Angeles have cost insurers an estimate d Dollars 775m -making the events of early May by far the most expensive ci vil disorder ever seen in the US, writes Nikki Tait. According to the Insura nce Information Institute, the LA losses easily exceeded those resulting fro m the 1965 Watts riots, also in Los Angeles. At the time, the Watts riots ca used Dollars 44m in insured losses. After allowing for inflation, this would equate to about Dollars 183m today. The latest LA riots rank fifth in terms of catastrophic losses for the insurance industry. The worst damage came fr om Hurricane Hugo, which cost insurers about Dollars 4.2bn. This was followe d by the Oakland fire disaster last year (Dollars 1.26bn). The Financial Times London Page 26 ============= Transaction # 306 ============================================== Transaction #: 306 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 72 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: FT934-13175 _AN-DJVCQAF9FT 931 022 FT 22 OCT 93 / International Company News: Sales sli p but ITT increases net income By MARTIN DICKSON ITT, the US conglomerate, more than doubled third-quarter net income to Dollars 252m, or Dollars 1.91 a share, from Dollars 113m, or 80 ce nts,last year, on sales down from Dollars 5.5bn to Dollars 5.2bn. But last y ear's third quarter was distorted by an after-tax gain of Dollars 622m on th e sale of a stake in Alcatel; an after-tax charge of Dollars 759m for insura nce losses and Dollars 95m in hurricane insurance losses. The latest period included an after-tax restructuring charge of Dollars 20m and a Dollars 22m tax benefit. Companies:- ITT Corp. Countri es:- USZ United States of America. Industries:- P6719 Holding Companies, NEC. Types:- FIN Interim results. The Financial Times London Page 27 ============= Transaction # 307 ============================================== Transaction #: 307 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 308 ============================================== Transaction #: 308 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 73 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: FT924-9872 _AN-CKCCTAGMFT 9211 03 FT 03 NOV 92 / Survey of Oil and Gas Industry (9): A healthier atmosphere for supplier and customer - US gas prices harden after five year trough By KAREN ZAGOR THE gloom is finally starting to lift from the US natural gas industry thanks t o rising gas prices, after five years when it seemed that they would never r ecover. Hurricane Andrew can take some of the credit for the reversal of ill fortune. When the hurricane swept through the Gulf of Mexico in August, not only did demand for gas rise sharply, but it also knocked out a fair amount of production which helped fuel a further spike in gas prices. By September , the gas futures contract had hit a peak of Dollars 2.74 per million Britis h thermal units (Btu), compared with prices as low as Dollars 1.05 per milli on Btu earlier this year. But prices had started to creep higher months befo re the hurricane hit. Gas delivered to Henry Hubb, Louisiana, - a major pipe line interchange point - had an average price of Dollars 1.21 per million Bt u in February. By May, the average price was up to Dollars 1.59 per million Btu rising to Dollars 1.75 per million Btu in July before soaring to Dollars 2.33 per million Btu in September. Ironically, part of the reason for the u nderlying price improvement lies in the high storage levels at the end of la st year's very mild winter. Shortly after the stored gas was dumped on the m arket at very low prices, demand for gas shot up thanks to unusually cool we ather in March and April. According to Mr Thomas Driscoll, an analyst at Sal omon Brothers, storage actually fell below target levels, pushing prices hig her as the storage was refilled later in the summer. When the hurricane stru ck, market supply was already tight and storage was still below target level s. Barring an extraordinarily warm winter, analysts expect prices to hold at higher levels, albeit below their September peaks. The improved prices bode well for the industry's short-term outlook, but may do little to alleviate the industry's fundamental problems. 'The balance of supply and demand in th e gas industry is a comedy of errors,' say Mr Driscoll. 'Right now it just h appens to be in good shape.' Mr Driscoll is one of many observers who believ es the erratic fortunes of the US gas industry are 'the legacy of congressio nal meddling and what that has meant for prices and demand'. De-regulation o f the US gas industry, which started in the early 1980s, fostered conditions conducive to cost undercutting. The creation of an open access transportati on system prompted competition among interstate pipelines, while the monthly bidding process for 30-day spot natural gas supplies contributed to volatil e prices. Producers exacerbated the pricing problem by trying to bolster sal es volumes to counter the damage of plummeting prices. Compounding the indus try's troubles was legislation dating to the 1970s which prohibited the use of gas for fuel in new industrial plants and electrical power plants. The mo ve was designed to preserve what was perceived as a rapidly depleting resour ce. Largely as a result, natural gas has never challenged coal as US industr y's main fuel. The biggest use of gas is in the residential market - making up about half of all energy consumed in US homes. Although industrial demand for gas is expected to rise, now that the ban has been lifted, it is unlike ly to change the face of the gas industry. In addition, a tax credit introdu ced by Congress in 1980 to stimulate drilling in difficult areas has dampene d prices by allowing the government to subsidise a large portion of gas prod uction. The Section 29 tax credits, enacted at a time when conventional wisd om expected the world to run out of energy, is now being phased out. The cre dit will only apply to drilling that starts by December 21, although the out put from that drilling will continue to be subsidised through 2002. Given th at about half of all wells drilling today are drilling for Section 29 gas, a nalysts expect production to fall sharply, unless the credit is extended, wh ich should help support higher gas prices. The gas industry also hopes to be nefit from the 1990 Clean Air Act, under which US cities with the worst air pollution must take alternative fuel measures in the next decade. Demand for natural gas as a cleaner burning fuel in vehicles is expected to rise as a result. In addition, electric utilities will probably turn to natural gas to meet the acid rain provision of the Act. According to Mr Driscoll, the Clea n Air Act is starting to have an impact on the gas industry, but it is unlik ely to improve conditions dramatically. 'If you look at all the natural gas vehicles and all the power plants that will have to reduce emissions, it sti ll won't affect today's performance. If you look at the numbers, there's sti ll not a lot of demand for gas.' It is estimated that prices would have to c limb to a range of Dollars 2.50 to Dollars 3 per million Btu to stimulate a significant increase in drilling and exploration. Largely as a result of the low prices, weak demand and environmental pressures, most of the big US gas producers have turned their attention away from the US and are concentratin g on drilling overseas. Independent producers, however, are still focused on the US and are starting to buy the assets being sold by the major companies , which will leave the US somewhat more dependent on independent gas produce rs in years to come. 'The gas industry is now changing rapidly on the produc tion side,' says Mr Driscoll. 'At this point, the major producers have decid ed to move overseas and the ability of the gas industry to drill is quickly declining. I think it will take a long time to turn that around. The governm ent does very little to help the industry and in many ways is driving the in dustry out of the US.' The Financial Times London Page V ============= Transaction # 309 ============================================== Transaction #: 309 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 63 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: FT922-4505 _AN-CFEA9ABVFT 9206 05 FT 05 JUN 92 / Observer: Swiss courage Switzerland's reputation for security and stability has taken knocks la tely. But Zurich Insurance, one of the biggest of its kind in Europe, wants to leave no doubt about its continuing strength. Asked how it would shape up to the most damaging sequence of disasters imaginable, chief executive Rolf Huppi was pat with the answer. The worst he could think of, he replied, was the California coast sliding into the ocean followed by a massive earthquak e in Tokyo, a hurricane sweeping up the US eastern seaboard, and torrential storms swamping western Europe. 'Then we would flinch,' he said . . .but has tily added: 'I don't think it would kill us." The Financial Tim es London Page 19 ============= Transaction # 310 ============================================== Transaction #: 310 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 64 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: FT943-12121 _AN-EG1ANABLFT 940 727 FT 27 JUL 94 / Gooda Walker hearing ends The High Court action brought by 3,095 Lloyd's Names against Gooda W alker syndicates ended yesterday. Mr Justice Phillips reserved judgment. He is not expected to announce his decision before September. The Names suffere d losses between 1988-90 as a result of a sequence of disasters including th e explosion of the Piper Alpha oil platform in 1988, Hurricane Hugo in the U S, the Exxon Valdez oil spill and the European storms of early 1990. The Nam es are suing for the return of Pounds 629m. Companies:- < CO>Gooda Walker. Countries:- GBZ United Kingdom, EC. < /CN> Industries:- P9211 Courts. Types:- COMP Company News. The Financial Times London Page 6 ============= Transaction # 311 ============================================== Transaction #: 311 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 65 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: FT942-3393 _AN-EFODGAB7FT 9406 15 FT 15 JUN 94 / Gooda underwriting was unsustainable: Former chairman admits survival of agency depended on absence of catastrophe s By JOHN MASON, Law Courts Correspondent The underwriting policy adopted by Mr Derek Walker, the former chairm an of the Gooda Walker managing agency, was 'unsustainable', he agreed in th e High Court yesterday. Gooda Walker's syndicate 290, which specialised in h igh-risk insurance underwritten by Mr Walker, was unable to cope with a seri es of catastrophes, he admitted. Mr Walker was giving evidence in the High C ourt action brought by more than 3,000 Lloyd's Names who allege incompetence by the agents, who they are suing for Pounds 629m. Questioned by Mr Geoffre y Vos QC, for the Names, Mr Walker said the frequency of losses in the exces s loss market - including Hurricane Hugo and a storm in the UK - was respons ible for the substantial losses suffered by the syndicate in 1990. 'So, was your writing generally, your syndicate's business, really dependent on there not being catastrophes?' Mr Vos asked. 'Yes,' Mr Walker replied. 'And we se e that when there are catastrophes, the business is destroyed?' 'Correct,' M r Walker said. Later, Mr Walker agreed with the judge, Mr Justice Phillips, that he wrote lines of insurance assuming that they would not be claimed aga inst. Mr Vos suggested that his underwriting strategy was therefore unsustai nable. 'Correct,' Mr Walker said. Mr Walker agreed that in spite of experien ce with Hurricane Hugo, when claims exceeded reinsurance levels, he decided not to increase the reinsurance for syndicate 290. Mr Vos asked: 'You did no t think there was any need to increase your reinsurance?' Mr Walker replied: 'I would not have been able to increase it.' Mr Vos: 'So, it was a matter o f the cart driving the horse, in the sense that you could not have done anyw ay, even if you wanted to?' Mr Walker: 'I think that would be the position, yes.' Mr Walker agreed that in the case of syndicate 164, there was nothing in the published accounts from 1982 onwards to warn the syndicate was high r isk. Mr Vos later accused Mr Walker of exaggerating when he claimed he and h is family had been ruined when they lost Pounds 1.5m on the insurance market . Mr Walker agreed that in 1988, 1989 and 1990 he, his wife and son had been paid a total of Pounds 1.9m by Gooda Walker. Companies:- Gooda Walker. Countries:- GBZ United Kingdom, EC. Industries:- P9211 Courts. Types:- COMP Company News. The Financial Times London Pa ge 10 ============= Transaction # 312 ============================================== Transaction #: 312 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 66 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: FT931-9982 _AN-DBKB3ABTFT 9302 11 FT 11 FEB 93 / International Company News: US insurer s report heavy losses By PATRICK HARVERSON NEW YORK AETNA Life & Casualty and Travele rs, two of the largest composite insurers in the US, yesterday reported heav y fourth-quarter losses, following a variety of special charges both compani es had announced last week. Travelers incurred the bigger loss for the final quarter of 1992 - Dollars 589m, compared with a profit of Dollars 69m a yea r earlier - in the wake of several charges, including: Dollars 485m to cover a Dollars 735m addition to property and mortgage loan reserves; Dollars 59m for costs linked to Hurricane Andrew; and Dollars 79m related to litigation and assesments for industry guarantee funds. The large quarterly loss meant that Travelers reported a deficit of Dollars 658m for all of 1992, compared with a profit of Dollars 318m in 1991. Apart from the charges outlined in t he fourth quarter results, the insurer had taken other charges earlier in th e year to cover the cost of meeting Hurricane Andrew claims and to pay for a corporate restructuring. Separately, Travelers last year booked a Dollars 1 70m one-off gain related to the adoption of two new accounting standards. At Aetna, the fourth-quarter loss totalled Dollars 192m after the company took a Dollars 180m charge to boost reserves for asbestos and environmental clai ms. In the same quarter last year, Aetna recorded a net profit of Dollars 93 m. For all of 1992, the insurer reported net income of only Dollars 56m, dow n sharply from the Dollars 505m profit made in 1991. Aside from the charges, Aetna said its fourth-quarter and full-year results were affected by high c atastrophe losses, poor workers compensation results, depressed commercial p roperty values, and continued soft pricing conditions in its main domestic i nsurance markets. The one bright spot was the company's health business, alt hough even there Aetna's 1992 earnings were well down on the previous year. Because the special charges and quarterly losses had been well flagged in ad vance, the stock markets displayed little reaction to the news from Traveler s and Aetna. Companies:- Aetna Life and Casualty. Travelers Corp. Countries:- UnZited States of America. Industries:- P6311 Life Insurance. P6411 Insurance Agents, Brokers, and Service. P6211 Security Brokers and Dealers. P 6159 Miscellaneous Business Credit Institutions. Types:- COMP Company News. FIN Interim results. The Financial Tim es London Page 27 ============= Transaction # 313 ============================================== Transaction #: 313 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 67 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: FT924-11716 _AN-CJYAZADXFT 921 024 FT 24 OCT 92 / International Company News: GAN profi ts sharply lower after six months By WILLIAM DAWKINS PARIS GROUPE GAN, the third-larg est French state-owned insurer, has announced that profits almost halved in the first six months, due to a rise in car thefts and industrial accident cl aims and an increase in bad debts at CIC, its banking unit. GAN's net profit s slid from FFr962m in the first half of 1991 to FFr487m (Dollars 94.56m) in the same period of this year, on premium income up by 11.9 per cent to FFr2 1.9bn over the same period. GAN warned that, barring an economic recovery, f ull-year profits would be down sharply because of the extra claims from Hurr icane Andrew and the recent floods in southern France. The Fina ncial Times London Page 10 ============= Transaction # 314 ============================================== Transaction #: 314 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 68 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: FT931-7520 _AN-DBXCKACQFT 9302 24 FT 24 FEB 93 / Business and the Environment: Weather wise - Typhoons, hurricanes and the threat of global warming are pushing up insurance rates By RICHARD LAPPER and BRONWEN MADDOX 'WE GET zapped every five minutes,' says Richard Keeling, underwriter with Lloyd's syndicate 362, reviewing the impact of recent hurri canes, gales and typhoons on the London insurance market. Recent storms, eac h more damaging than the last, culminated in last year's hurricane Andrew, w hich devastated parts of Louisiana and Florida and caused losses estimated t o be at least Dollars 16bn and perhaps as much as Dollars 20bn (Pounds 14bn) , the United States's biggest-ever insured loss. That has triggered tough ba rgaining in the London insurance market and one of the hardest 'renewal' sea sons, as reinsurers seek to impose big rate increases. Most significantly, i n a move that could lead to higher insurance rates for many years, insurers are also beginning to ask whether recent storms are a sign of global warming or other long-term shifts in weather patterns. The question has led to an u nlikely convergence with environmental pressure groups such as Greenpeace, w hich last month published a long report welcoming insurers' alertness to the risk. In the recent round of negotiations, brokers buying cover for US clie nts - who have avoided heavy increases in recent years - have found the goin g toughest. However, across the board, direct insurers are now paying more f or their reinsurance. Keeling says that since October 1987, reinsurance rate s have increased by 650 per cent for European insurers, 450 per cent for US buyers and by 1,000 per cent for Japanese companies. The increases partly re flect reinsurers' efforts to restore profitability after heavy losses from w eather and from other disasters such as the 1988 Piper Alpha oil rig explosi on and the Exxon Valdez oil spill the following year. Both Swiss Re and Muni ch Re, the world's two biggest reinsurers, have seen profits dented and have been forced to draw deep into their reserves to meet claims, especially fro m the European storms of 1990. Many smaller reinsurers have withdrawn from t he market. More than a third of Lloyd's Names and nearly half the syndicates have left the market since 1989. As competition for business has dwindled, bigger players have found it easier to force through rate increases. Underwr iters are also now beginning to take a deeper look at the risk of storm dama ge. They recognise that denser population in potentially exposed regions, su ch as the south-eastern coast of the US, is partly responsible for the rise in losses. 'Windstorm' cover has also become a more common element of househ olders' policies over the last two decades in most countries. And increasing ly many are questioning whether the recent increases in land and sea tempera tures are leading to greater atmospheric instability and more frequent and i ntense winds. Scientists have warned for several years that gases such as ca rbon dioxide, emitted from burning fossil fuels, could cause global warming. The United Nation's Intergovernmental Panel on Climate Change, set up to in vestigate the phenomenon, has suggested the average increase could be somewh ere between 1.5'C and 3.5'C over the next 100 years. However, scientists hav e emphasised there is still uncertainty about the processes involved - the m odels find it hard to take account of clouds, which could slow down warming. They also say it is impossible to conclude from recent storms and warm summ ers that climate change is already happening. Despite scientific uncertainty , insurers feel they need to protect themselves. Walter Kielholz, general ma nager of Swiss Re, one of the first insurance companies to question whether global warming could be responsible for worsening weather, agrees that 'the statistical data is too short to conclusively prove that there is a trend'. But he adds: 'It might just be a hiccup but we can't afford to wait for the long-term before taking action.' Research commissioned by Keeling and severa l other Lloyd's underwriters by the University of East Anglia's climatology department also concludes: 'The possibility that the trend (of more frequent gales in north-western Europe) is related to global warming cannot be rejec ted.' Insurers should assume that 'gale frequencies will remain at the level of the 1980s' and could rise further, the report says. In Greenpeace's rece nt study, the pressure group called for insurers to join the lobby for limit s on the emission of 'greenhouse gases'. Keeling acknowledges: 'We have to d o something constructive but the insurance industry will never be a lobby. W e are too diffused.' Instead, as well as increasing rates insurers have begu n to toughen the terms of storm insurance. Kielholz says that since 1990 Swi ss Re has begun to isolate the risk of 'windstorm' from other exposures it u nderwrites. The group now likes to cover windstorm through an excess of loss reinsurance contract (in which the reinsurer covers a tranche of risk up to a pre-set limit) rather than by covering it alongside other risks as part o f a proportional reinsurance deal (in which the reinsurer accepts an agreed percentage of exposure). 'Reinsurers have become more and more reluctant to include windstorm in proportional property treaties,' says Kielholz. Reinsur ers are also urging direct insurers to make policyholders pay the first port ion of any loss themselves, as an incentive to protect their property agains t storms. Householders would then be more likely to carry out essential main tenance and commercial customers to follow building codes more strictly, the y argue. During Hurricane Andrew many new buildings, especially those with s teel frames and metal casings, proved to be particularly vulnerable to wind damage, according to Swiss Re. Higher rates and tougher terms are the insura nce industry's perhaps unsurprising response to recent storms and the potent ial threat of global warming. The environmental movement has shown itself re luctant to acknowledge scientific doubts about climate change, while climato logists - who might stress that uncertainty - have few reasons to get involv ed in debates on insurance charges. Customers may have to hope the new highe r rates help preserve some of the financially weaker groups, and so preserve competition in the industry. --------------------------------------------- -------------------- THE COST OF RECENT STORMS --------- -------------------------------------------------------- Aug 1992 US Cyclone Iniki Dollars 1.4bn Aug 1992 US Hurricane Andrew Dollars 20.0bn Sep 1991 Japan Typhoon Mi reille Dollars 4.8bn Jul 1990 US Colorado storms Do llars 1.0bn Feb 1990 NW Europe Windstorm Wibke Dollars 1.3b n Feb 1990 NW Europe Windstorm Vivian Dollars 3.2bn Feb 1990 NW Europe Windstorm Herta Dollars 1.3bn Jan 1990 NW Europ e Windstorm Daria Dollars 4.6bn Sep 1989 US Hurricane Hugo Dollars 5.8bn Oct 1987 NW Europe Un-named wi ndstorm Dollars 2.5bn ---------------------------------------------------- ------------- Source: Greenpeace ------------------------------------------ ----------------------- Countries:- GBZ United Kingd om, EC. Industries:- P6331 Fire, Marine, and Casualty I nsurance. P6411 Insurance Agents, Brokers, and Service. Types :- RES Natural resources. COSTS Costs & Prices. MKTS Ma rket data. The Financial Times London Page 14 ============= Transaction # 315 ============================================== Transaction #: 315 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 69 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: FT934-16876 _AN-DJDB4ADRFT 931 004 FT 04 OCT 93 / International Company News: Swiss Re lifts earnings to SFr281m By IAN RODGER ZURICH SWISS Reinsurance has reported a 5.6 p er cent rise in net earnings to SFr281m (Dollars 197m) for 1992 and has prop osed a share split and rights issue to raise SFr575m. The group, the world's second largest reinsurer after Munich Reinsurance, said gross premiums rose by 25.6 per cent last year to SFr21.9bn. However, about half of the growth in gross premiums came from changes in the scope of consolidation, mainly fr om including Elvia's figures for the first time. Net premiums rose 27 per ce nt to SFr20.7bn. The underwriting loss in non-life business soared by 43 per cent to SFr1.12bn, reflecting the impact of Hurricane Andrew and a generall y 'unfavourable experience' in the insurance business. Hurricane Andrew cost the group SFr500m. On the other hand, the underwriting income in life insur ance jumped 38 per cent. Financial income was 11.9 per cent up to SFr2.06bn. The management board has proposed splitting the company's SFr100 nominal re gistered and bearer shares at the rate of five for every one share held, and also converting the SFr20 nominal non-voting participation certificates int o registered shares. These moves are similar to those made by other quoted S wiss companies following a change in company law last year. Swiss Re said th e changes would promote liquidity of its share trading. The board is also pr oposing opening its share register to foreigners, but limiting all sharehold ers to a maximum of 3 per cent of the registered share capital. This too fol lows a trend aimed at overcoming the unhappiness of foreigners with being di senfranchised, while preventing hostile takeover bids. The rights issue will be on the basis of one new bearer or registered share, following the splits , for every 10 shares or participation certificates held. The price, expecte d to be about SFr475 a share, will be set on November 24. Swiss Re said that the funds would be used 'to support the growth in business anticipated for 1993 and subsequent years'. In August, the group joined with John Head & Par tners, a New York merchant bank, to create a new company, Partner Reinsuranc e, to specialise in natural catastrophe insurance. Swiss Re will contribute Dollars 100m to the Bermuda-based venture. Companies:- Swiss Reinsurance. Countries:- CHZ Switzerland, Wes t Europe. Industries:- P6331 Fire, Marine, and Casualty Insurance. P6411 Insurance Agents, Brokers, and Service. Typ es:- FIN Share issues. FIN Annual report. The Fin ancial Times London Page 17 ============= Transaction # 316 ============================================== Transaction #: 316 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 70 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: FT931-4836 _AN-DCICJAF0FT 9303 09 FT 09 MAR 93 / International Company News: Write-down s hit Uni Storebrand By KAREN FOSSLI OSLO UNI STOREBRAND, the Norwegian insurer, yest erday revealed a big loss in 1992 due to a NKr2.63bn (Dollars 373m) write-do wn on the group's 28 per cent stake in Skandia Forsak-rings, Sweden's bigges t insurer. Uni reported a consolidated pre-tax loss of NKr3.38bn against a p rofit of NKr471m in 1991. Last August, Uni collapsed into the hands of publi c administrators after failing to service NKr3.6bn in short-term debt accrue d to finance a failed raid on Skandia. Uni said it would strive to dispose o f the NKr4.7bn Skandia stake as soon as possible. Group net operating income rose slightly last year to NKr20.48bn from NKr19.54bn as operating costs re mained largely the same at NKr4.07bn. Mr Per Terje Vold, chief executive, sa id that, considering the difficult times which the group had experienced, th e results achieved by the life and non-life divisions were acceptable. 'We a re pleased to note that the results of the life and non-life insurance compa nies improved significantly during the last four months of the year,' Mr Vol d said. The life insurance division lifted premium income by NKr90m to NKr4. 74bn in 1992, but investment income fell by NKr387m to NKr4.99bn. Operating profit rose to NKr1.91bn from NKr1.09bn. The share portfolio was written dow n by NKr537m. The non-life business saw premium income in 1992 fall by 2.5 p er cent to NKr6.872bn as operating costs were cut by NKr128m to NKr1.8bn. Op erating profit rose to NKr345m from NKr281m. Uni said the non-life result wa s compromised by a NKr123m loss due to a hurricane which struck north-west N orway. It also suffered a NKr168m realised loss and write-down on the securi ties portfolio. The group's international business saw premium income rise b y 6.5 per cent to NKr4.702bn, but investment income fell by NKr175m to NKr32 3m. The division plunged into an operating loss of NKr546m last year, agains t a profit of NKr64m a year earlier. Uni said the poor result was due in par t to a NKr164m charge to cover damage resulting from hurricane Andrew. The i nternational business will engage in reinsurance business only while the mar ine, oil, satellite and liability operations are to be transferred to the no n-life business once approval is given by authorities. Mr Vold forecast an i mprovement in 1993 through cutting costs, increasing premiums and reducing t he risk profile of investments. Companies:- Uni Store brand. Countries:- NOZ Norway, West Europe. Industries:- P63 Insurance Carriers. Types:- < TP>FIN Annual report. The Financial Times London P age 24 ============= Transaction # 317 ============================================== Transaction #: 317 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 71 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: FT922-6694 _AN-CEVA2ACEFT 9205 22 FT 22 MAY 92 / International Company News: Los Angele s riots cost insurers Dollars 775m By NIKKI TAIT THE recent riots in Los Angeles have cost insurers an estimate d Dollars 775m -making the events of early May by far the most expensive ci vil disorder ever seen in the US, writes Nikki Tait. According to the Insura nce Information Institute, the LA losses easily exceeded those resulting fro m the 1965 Watts riots, also in Los Angeles. At the time, the Watts riots ca used Dollars 44m in insured losses. After allowing for inflation, this would equate to about Dollars 183m today. The latest LA riots rank fifth in terms of catastrophic losses for the insurance industry. The worst damage came fr om Hurricane Hugo, which cost insurers about Dollars 4.2bn. This was followe d by the Oakland fire disaster last year (Dollars 1.26bn). The Financial Times London Page 26 ============= Transaction # 318 ============================================== Transaction #: 318 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 72 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: FT934-13175 _AN-DJVCQAF9FT 931 022 FT 22 OCT 93 / International Company News: Sales sli p but ITT increases net income By MARTIN DICKSON ITT, the US conglomerate, more than doubled third-quarter net income to Dollars 252m, or Dollars 1.91 a share, from Dollars 113m, or 80 ce nts,last year, on sales down from Dollars 5.5bn to Dollars 5.2bn. But last y ear's third quarter was distorted by an after-tax gain of Dollars 622m on th e sale of a stake in Alcatel; an after-tax charge of Dollars 759m for insura nce losses and Dollars 95m in hurricane insurance losses. The latest period included an after-tax restructuring charge of Dollars 20m and a Dollars 22m tax benefit. Companies:- ITT Corp. Countri es:- USZ United States of America. Industries:- P6719 Holding Companies, NEC. Types:- FIN Interim results. The Financial Times London Page 27 ============= Transaction # 319 ============================================== Transaction #: 319 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 73 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: FT924-9872 _AN-CKCCTAGMFT 9211 03 FT 03 NOV 92 / Survey of Oil and Gas Industry (9): A healthier atmosphere for supplier and customer - US gas prices harden after five year trough By KAREN ZAGOR THE gloom is finally starting to lift from the US natural gas industry thanks t o rising gas prices, after five years when it seemed that they would never r ecover. Hurricane Andrew can take some of the credit for the reversal of ill fortune. When the hurricane swept through the Gulf of Mexico in August, not only did demand for gas rise sharply, but it also knocked out a fair amount of production which helped fuel a further spike in gas prices. By September , the gas futures contract had hit a peak of Dollars 2.74 per million Britis h thermal units (Btu), compared with prices as low as Dollars 1.05 per milli on Btu earlier this year. But prices had started to creep higher months befo re the hurricane hit. Gas delivered to Henry Hubb, Louisiana, - a major pipe line interchange point - had an average price of Dollars 1.21 per million Bt u in February. By May, the average price was up to Dollars 1.59 per million Btu rising to Dollars 1.75 per million Btu in July before soaring to Dollars 2.33 per million Btu in September. Ironically, part of the reason for the u nderlying price improvement lies in the high storage levels at the end of la st year's very mild winter. Shortly after the stored gas was dumped on the m arket at very low prices, demand for gas shot up thanks to unusually cool we ather in March and April. According to Mr Thomas Driscoll, an analyst at Sal omon Brothers, storage actually fell below target levels, pushing prices hig her as the storage was refilled later in the summer. When the hurricane stru ck, market supply was already tight and storage was still below target level s. Barring an extraordinarily warm winter, analysts expect prices to hold at higher levels, albeit below their September peaks. The improved prices bode well for the industry's short-term outlook, but may do little to alleviate the industry's fundamental problems. 'The balance of supply and demand in th e gas industry is a comedy of errors,' say Mr Driscoll. 'Right now it just h appens to be in good shape.' Mr Driscoll is one of many observers who believ es the erratic fortunes of the US gas industry are 'the legacy of congressio nal meddling and what that has meant for prices and demand'. De-regulation o f the US gas industry, which started in the early 1980s, fostered conditions conducive to cost undercutting. The creation of an open access transportati on system prompted competition among interstate pipelines, while the monthly bidding process for 30-day spot natural gas supplies contributed to volatil e prices. Producers exacerbated the pricing problem by trying to bolster sal es volumes to counter the damage of plummeting prices. Compounding the indus try's troubles was legislation dating to the 1970s which prohibited the use of gas for fuel in new industrial plants and electrical power plants. The mo ve was designed to preserve what was perceived as a rapidly depleting resour ce. Largely as a result, natural gas has never challenged coal as US industr y's main fuel. The biggest use of gas is in the residential market - making up about half of all energy consumed in US homes. Although industrial demand for gas is expected to rise, now that the ban has been lifted, it is unlike ly to change the face of the gas industry. In addition, a tax credit introdu ced by Congress in 1980 to stimulate drilling in difficult areas has dampene d prices by allowing the government to subsidise a large portion of gas prod uction. The Section 29 tax credits, enacted at a time when conventional wisd om expected the world to run out of energy, is now being phased out. The cre dit will only apply to drilling that starts by December 21, although the out put from that drilling will continue to be subsidised through 2002. Given th at about half of all wells drilling today are drilling for Section 29 gas, a nalysts expect production to fall sharply, unless the credit is extended, wh ich should help support higher gas prices. The gas industry also hopes to be nefit from the 1990 Clean Air Act, under which US cities with the worst air pollution must take alternative fuel measures in the next decade. Demand for natural gas as a cleaner burning fuel in vehicles is expected to rise as a result. In addition, electric utilities will probably turn to natural gas to meet the acid rain provision of the Act. According to Mr Driscoll, the Clea n Air Act is starting to have an impact on the gas industry, but it is unlik ely to improve conditions dramatically. 'If you look at all the natural gas vehicles and all the power plants that will have to reduce emissions, it sti ll won't affect today's performance. If you look at the numbers, there's sti ll not a lot of demand for gas.' It is estimated that prices would have to c limb to a range of Dollars 2.50 to Dollars 3 per million Btu to stimulate a significant increase in drilling and exploration. Largely as a result of the low prices, weak demand and environmental pressures, most of the big US gas producers have turned their attention away from the US and are concentratin g on drilling overseas. Independent producers, however, are still focused on the US and are starting to buy the assets being sold by the major companies , which will leave the US somewhat more dependent on independent gas produce rs in years to come. 'The gas industry is now changing rapidly on the produc tion side,' says Mr Driscoll. 'At this point, the major producers have decid ed to move overseas and the ability of the gas industry to drill is quickly declining. I think it will take a long time to turn that around. The governm ent does very little to help the industry and in many ways is driving the in dustry out of the US.' The Financial Times London Page V ============= Transaction # 320 ============================================== Transaction #: 320 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 321 ============================================== Transaction #: 321 Transaction Code: 14 (Search Results Displayed) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 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: 394 Help Code: 0 # Displayed: 12 Help ID: 0 Associated Variable Length Text: ============= Transaction # 322 ============================================== Transaction #: 322 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 96 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: FT923-701 _AN-CI0ADAD6FT 92092 6 FT 26 SEP 92 / World Stock Markets (America): Economic and election uncertainty hit Dow By PATRICK HARVERS ON NEW YORK Wall Street MORE BAD economic news and renewed uncertainty about the election battle left US shar e prices sharply lower across the board yesterday, writes Patrick Harverson in New York. At the close the Dow Jones Industrial Average was down 37.55 at 3,250.32, although above its lows for the day when the index had registered a 50-point loss. The more broadly based Standard & Poor's 500 ended down 4. 13 at 414.35, while the Amex composite shed 2.45 at 378.49 and the Nasdaq co mposite fell 8.73 to 577.20. Turnover on the New York SE was 216m shares. Al though bond prices staged a strong recovery, and yields fell, A series of po or economic news set the tone for a weak opening to trading. The biggest sur prise was the 0.1 per cent decline in August durable goods orders, which fol lowed a big rise in July and defied analysts' expectations of a similar incr ease for August. Particularly worrying was the new five-year low for unfille d orders. Until backlogs begin to increase again, companies will not hire ne w workers, said analysts. This has serious ramifications for consumer spendi ng. The latest data on personal spending showed it fell by 0.1 per cent in A ugust, alongside a 0.5 per cent drop in personal income. Those figures, plus a 3.2 per cent drop in August existing home sales, prompted concerted selli ng. Among individual sectors, drug stocks were hit by the latest press repor ts on government plans to introduce new regulations to control rising health care costs. Investors fear the regulations could reduce corporate profits. L eading the way lower were Merck, down Dollars 2 at Dollars 43 1/8 , Schering -Plough, Dollars 2 3/8 lower at Dollars 57 1/4 (despite a broker's upgrade), Pfizer, down Dollars 4 3/8 at Dollars 74 3/8 , Bristol Myers-Squibb, Dollar s 2 1/8 lower at Dollars 63 3/4 and Johnson & Johnson, Dollars 2 7/8 weaker at Dollars 47 5/8 . Insurance stocks were mixed after hectic gains, on Thurs day inspired by hopes that losses from Hurricane Andrew could end the proper ty and casualty insurance industry's price slump and drive rates higher. AIG added rose another Dollars 5/8 to Dollars 102 1/4 , as did Travelers (alre ady buoyed by favourable reaction to the recent Dollars 722.5m injection of capital by Primerica), up Dollars 5/8 at Dollars 22 7/8 . SCOR US rose Doll ars 2 1/8 to Dollars 16 1/8 after announcing it would take an 89 cents a sha re charge in the third quarter to cover hurricane losses but reassuring that overall earnings would be positive. Aetna held steady at Dollars 40 3/4 , b ut profit-taking dropped General Re Dollars 2 3/4 to Dollars 99 3/4 . Medica l Care America plunged Dollars 33 to Dollars 25 after the company warned thi rd quarter earnings would be comparable with the 45 cents a share earned a y ear ago after one-time charges of 44 cents a share. Canada TORONTO Stocks en ded the week on a losing note, following most major world markets. The Compo site Index lost 25.12 points at 3,385.49, down about 60 points on the week. Declines led advances 309 to 214 with volume at 24m shares. All but one of t he 14 stock groups ended lower. Industrial products were off 1.16% and finan cial services lost 0.98%. Consumer products and mining were down moderately, with gold and energy stocks flat. The Financial Times < PAGE> London Page 21 ============= Transaction # 323 ============================================== Transaction #: 323 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 97 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: FT923-5893 _AN-CH1BVAFLFT 9208 27 FT 27 AUG 92 / World Stock Markets (America): Dow imp roves in wake of a steadier dollar By PATRICK HARVER SON NEW YORK Wall Street AFTER A hesitant start, US stock markets showed some improvement yesterday in the wa ke of higher bond prices and a stable, although still vulnerable, dollar, wr ites Patrick Harverson in New York. The Dow Jones Industrial Average closed 14.59 up at 3,246.81, slightly below the day's high. The Standard & Poor's 5 00 was 1.90 ahead at 413.51. The American SE composite edged up 0.13 to 379. 65, while the best performance came from the Nasdaq composite, which gained 4.58 at 558.80. New York SE turnover amounted to 172m shares, while rises ou tpaced declines by 997 to 716. A slight firming in the dollar as overseas in vestors took profits in the D-Mark provided the foundation for a positive da y of equity trading. Investors concentrated their attention on the currency market positives, and the day's only major economic news, an unexpected 3.4 per cent decline in July durable goods orders, was mostly ignored. Although the durable goods orders are notoriously unreliable, and the bulk of last mo nth's decline was due to a big fall in transportation orders, the overall pi cture of manufacturing industry's past and future orders book was one of con tinued weakness. Motor manufacturers were mostly firmer in active trading, b oosted by Ford's strong mid-August car sales figures. Ford rose a further Do llars 3/8 to Dollars 40 1/2 , while General Motors put on Dollars 3/8 at D ollars 34 1/8 in turnover of 2.4m shares. Chrysler held at Dollars 19 1/2 . PPG Industries eased Dollars 5/8 to Dollars 59 3/8 after an order imbalance had delayed trading. The company said there was no reason for the decline, arguing that investors may have misinterpreted some recent remarks by the co mpany's chief executive on the outlook for earnings. PPG also said its chemi cal plant at Lake Charles in Louisiana had not been damaged by Hurricane And rew. As the hurricane's force dissipated after reaching the Gulf coast, insu rance stocks were in mixed form, with Cigna rising Dollars 1/4 to Dollars 5 1 1/8 , Aetna firming Dollars 1/2 to Dollars 39 1/8 , Travelers steady at D ollars 20 3/4 and Geico Dollars 1 1/4 off at Dollars 56. Abbott Laboratories climbed Dollars 1 to Dollars 31 1/4 . Broking house Dean Witter Reynolds ad ded the stock to its recommended list after its health care analyst upgraded his rating on Abbott to 'buy' from 'neutral'. On the American Stock Exchang e, New York Times softened Dollars 1/8 to Dollars 26 7/8 after Salomon Brot hers, the broking house, raised its 1992 and 1993 earnings estimates for the newspaper group but kept its rating on the stock unchanged at 'hold'. Canad a TORONTO finished slightly firmer following light trading. The TSE 300 inde x was up 7.2 at 3,383.0 and rising issues led declines by 274 to 234. Volume came to 20.4m shares. Bank, pipeline and utility shares, which many investo rs buy for their stable yields, dominated the most active list. Nova Scotia Power, CDollars 10 7/8 , Toronto Dominion Bank, CDollars 18 3/4 , and Bank o f Nova Scotia, CDollars 23 3/4 , put on CDollars 1/8 apiece. Varity gained CDollars 5/8 at CDollars 23 1/4 on posting a second-quarter profit of 37 US cents a share, against a loss of 49 cents a year earlier. Unicorp Energy, o ff 10 cents at CDollars 1.50, reported a slight decline in six-month net. The Financial Times London Page 31 ============= Transaction # 324 ============================================== Transaction #: 324 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 98 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: FT941-1866 _AN-ECWDJAGNFT 9403 23 FT 23 MAR 94 / International Company News: State Farm confident on quake costs By RICHARD WATERS NEW YORK State Farm, the US insurer with the biggest exposure to January's Californian earthquake, is unlikely to adj ust substantially its Dollars 600m estimate of losses from the disaster. The group said yesterday it did not expect to have to change the figure much. O ther insurers have greatly increased their estimates of losses in recent day s, putting the total costs of the earthquake to the insurance industry at as much as Dollars 4bn, roughly the same as the costs of Hurricane Hugo. Allst ate, the second-largest issuer of homeowners' insurance policies in the stat e, raised its estimate of its losses from Dollars 350m to Dollars 600m on Mo nday. State Farm said it had already carried out detailed inspections on aro und 90 per cent of the claims it had received. These had revealed damage whi ch was broadly in line with what it had estimated. Companies:- State Farm Fire and Casualty Insurance. Allstate Corp. < XX> Countries:- USZ United States of America. Industri es:- P6331 Fire, Marine, and Casualty Insurance. Types: - COMP Company News. The Financial Times London Page 33 ============= Transaction # 325 ============================================== Transaction #: 325 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 99 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: FT931-16651 _AN-DAEB7AEFFT 930 105 FT 05 JAN 93 / International Company News: Aetna say s storm claims will cut earnings by Dollars 27m By P ATRICK HARVERSON AETNA LIFE & Casualty, one of the largest US composite insurers, said yesterday that the cost of claims from the winte r storm that struck New York city and parts of the eastern seaboard in early December would reduce fourth-quarter after-tax earnings by about Dollars 27 m, or 25 cents a share. So far, Aetna says it has received about 14,000 clai ms, and it expects the total to climb to about 18,000. The December storm - named Winter Storm Beth - was the second major weather catastrophe to affect US insurers last year. Claims from Hurricane Andrew, which devastated parts of southern Florida last summer, helped inflate third-quarter catastrophe l osses at Aetna's property and casualty unit from Dollars 6m to Dollars 29m. Aetna is expected to report fourth-quarter results on February 10. In the fo urth quarter last year, the company made a net profit of Dollars 93m. Companies:- Aetna Life and Casualty. Countries:- USZ USA. Industries:- P6411 Insurance Agen ts, Brokers, and Service. Types:- COMP Company News. FIN Company Finance. The Financial Times London Page 21 ============= Transaction # 326 ============================================== Transaction #: 326 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 100 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: FT933-4288 _AN-DIIB8AE0FT 9309 09 FT 09 SEP 93 / UK Company News: Royal sells US reinsu rance arm for Dollars 59m By RICHARD LAPPER ROYAL Insurance, the composite insurer, yesterday announced the sal e of its US reinsurance arm, American Royal, to the Australian group, QBE In surance Group, for Dollars 59m (Pounds 39m). The sale represents 'a signific ant diminution of our reinsurance exposure which has been identified as non- core business longer term,' said Mr Richard Gamble, chief executive. Royal t ook the decision to withdraw from reinsurance earlier this year. At the end of 1992 American Royal had net written premiums of Dollars 41m and statutory net assets of Dollars 54m. Royal bought the group for Pounds 15m in 1983, w hen it was seeking to diversify the base of its reinsurance business outside Europe. The group made profits until 1992, when it sustained losses as a re sult of heavy losses from Hurricane Andrew. Companies:- < CO>Royal Insurance Holdings. American Royal Reinsurance. QBE Insuran ce Group. Countries:- GBZ United Kingdom, EC. USZ United States of America. AUZ Australia. Industries:- P6331 Fire, Marine, and Casualty Insurance. Types:- COMP Disposals. COMP Mergers & acquisitions. The Financia l Times London Page 30 ============= Transaction # 327 ============================================== Transaction #: 327 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 101 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: FT923-3956 _AN-CIIBPAEXFT 9209 09 FT 09 SEP 92 / World Stock Markets (America): Dow low er as market reflects on jobs data By PATRICK HARVER SON NEW YORK Wall Street US SHARE prices weakened across the board yesterday as investors continued to digest the implications of Friday's disappointing employment news, writes Patrick Harverson in New York. The Dow Jones Industrial Average closed 21.34 down at 3,260.59, near the day's low. The market was closed on Monday for Labor Day . The Standard & Poor's 500 declined 2.64 to 414.44, while the American SE c omposite slipped 1.49 to 383.36 and the Nasdaq composite lost 2.27 to 571.17 . Turnover on the New York SE was light at 161m shares. The ramifications of last week's announcement by the Labor department that non-farm payrolls had fallen 83,000 in August, against analysts' expectations of a rise (analysts had been expecting a solid increase in payrolls), continued to dominate mar ket sentiment. The main focus of attention was on monetary policy, and wheth er the Federal Reserve would follow Friday's 1/4 percentage point reduction in the Federal Funds rate to 3 per cent with a similar, or bigger, cut in t he more important discount rate. Speculation has also centred on the possibi lity of additional fiscal stimulus for the economy. HJ Heinz fell Dollars 1 in early trading after the food group appeared to disappoint the market with fiscal first-quarter profits of 55 cents a share, down sharply from the 95 cents earned at the same stage a year ago. Analysts later hailed the figures as a solid result, once one-off factors were excluded, and the shares ended a net Dollars 3/8 off at Dollars 41 1/2 . Banks were lower on concern that they would gain little from lower interest rates and that this year's rally in the sector could be over. Chemical retreated Dollars 1 3/4 to Dollars 31 1/2 , Chase Manhattan Dollars 3/4 to Dollars 22, BankAmerica Dollars 1 to Dollars 42 7/8 and Citicorp Dollars 7/8 to Dollars 15 1/2 . The repercussion s of Hurricane Andrew, now deemed the worst natural disaster in US history, continued to afflict certain stocks. Sears Roebuck dipped Dollars 5/8 to Do llars 40 3/4 in active trading after Wall Street securities house Salomon Br others cut its 1992 earnings estimate for the company from Dollars 4.20 a sh are to Dollars 3 to reflect the greater than expected losses that Sears' All state Insurance subsidiary expects to incur because of hurricane damage in s outh Florida and Louisiana. Genentech climbed Dollars 1 to Dollars 33 1/2 af ter broking house Smith Barney upgraded the stock to a 'buy' in the expectat ion that new product introductions will spur a sharp rise in earnings for th e California biotech company. Carriage Industries jumped Dollars 2 1/4 to Do llars 12 1/4 on news that the carpet supplier and manufacturer's chairman an d his affiliates plan to sell their 46.5 per cent stake to textiles group Di xie Yarns for Dollars 13.25 a share in cash. Dixie Yarns fell Dollars 1 1/4 to Dollars 9 1/2 on the Nasdaq market. Canada THE Toronto market stayed with in a narrow range all day in spite of the downward pressure exerted by the l ower Wall Street values. The TSE 300 index eased only 4.9 to 3,451.9, while overall advances held a small lead over declines by 267 to 252 after volume of 29.4m shares valued at CDollars 308.8m. Seagram receded CDollars 5/8 to CDollars 34 3/4 . The board has renewed the company's authorisation to buy u p to 5 per cent of its common shares, a maximum of 18.8m shares. The Financial Times London Page 37 ============= Transaction # 328 ============================================== Transaction #: 328 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 102 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: FT924-7792 _AN-CKOAUAAHFT 9211 14 FT 14 NOV 92 / Strong US retail sales lift hopes By GEORGE GRAHAM WASHINGTON US retail sales rose faster than expected last month, prompti ng hopes that domestic demand might at last spur the sluggish US economy int o recovery, George Graham writes in Washington. The Commerce Department repo rted that retail sales increased by 0.9 per cent in October to reach a level 5.7 per cent higher than a year ago. Some of the increase appears to have b een stimulated by sales of furniture and building materials in the wake of t he hurricane that hit Florida and Louisiana, but economists noted solid gain s in car and clothing sales. Consumer prices also rose faster than expected in October, climbing 0.4 per cent to yield a year on year inflation rate of 3.2 per cent - up from 3.0 per cent in September. Most economists, however, regarded the rise as a blip unlikely to signal any break in the general disi nflationary trend seen not only in the US but around the world. The increase stemmed partly from a sharp rise in air fares, after months of price wars i n the airline industry, but also from costlier housing and fuel costs. Howev er, the housing market remains torpid. The National Association of Realtors reported that sales of existing homes in the third quarter were 5 per cent l ower than a year earlier. The Financial Times Lon don Page 2 ============= Transaction # 329 ============================================== Transaction #: 329 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 103 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: FT932-2033 _AN-DFUB2ADJFT 9306 21 FT 21 JUN 93 / Arts: Today's Television < BYLINE> By CHRISTOPHER DUNKLEY If the sun shines this co uld be good day to bunk off. Pop a bottle of Australian Chardonnay in the fr idge, half close the curtains, and switch on BBC1 at 10.55 this morning for the final day of Cricket: Second Test from Lord's. At noon BBC2 brings live coverage of the opening matches from Wimbledon, then, from 2.00 until 8.00, combines Cricket And Wimbledon. If your only chance is to catch up this even ing, BBC1 offers an hour of Today At Wimbledon at 10.20 and 40 minutes of Cr icket at 12.45. Horizon returns to one of the passions of popular science in the 70s, teaching chimpanzees to 'talk' or anyway communicate (8.00 BBC2). World In Action provides 'A Gentleman's Guide To Tax Avoidance'; and Panoram a, after hurricanes, terrorism, tanker disasters and scores of actions for n egligence and fraud, considers 'Lloyd's Last Chance'. In the second of his s eries on the claims of conventional and alternative health care, Magic Or Me dicine?, Rob Buckman considers the growing popularity of alternative approac hes. (9.00 C4). Countries:- GBZ United Kingdom, EC. Industries:- P4832 Radio Broadcasting Stations. P48 33 Television Broadcasting Stations. Types:- TECH Serv ices & Services use. The Financial Times London Pag e 15 ============= Transaction # 330 ============================================== Transaction #: 330 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 104 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: FT931-16394 _AN-DAGB2ABSFT 930 107 FT 07 JAN 93 / Losses grow for Lloyd's Names By RICHARD LAPPER NAMES ON two Lloyd's syn dicates face significantly worse 1989 losses than previously feared. Spratt & White syndicate 475 and Evennett syndicate 1035, both specialising in cata strophe reinsurance business, have reported a signifi-cant deterioration in their results as claims from hurricane Hugo and other heavy losses continue to mount. Syndicate 475, now part of the Knightstone Group, has suffered wor st, with losses for 956 Names - the individuals whose capital supports the m arket - likely to exceed Pounds 125m, more than 500 per cent of the syndicat e's capacity. Capacity is the amount of premium a syndicate is permitted to underwrite. On Evennett syndicate 1035, 1,149 Names face losses equal to 150 per cent of its capacity of Pounds 21.9m, or about Pounds 30m. The accounts of both syndicates were left open last year - when Lloyd's declared overall losses of Pounds 2.06bn - because of uncertainty about the level of future claims. Companies:- Lloyds of London. Coun tries:- GBZ United Kingdom, EC. Industries:- P63 Insurance Carriers. P6411 Insurance Agents, Brokers, and Service. Types:- INS Insurance losses. COMP Company News. GOVT Legal issues. The Financial Times London Page 6 ============= Transaction # 331 ============================================== Transaction #: 331 Transaction Code: 39 (Full Doc Window --TREC) Terminal ID: 12781888 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: Wed Dec 31 16:00:00 1969 Rec. Format: Short Time Cmd Complete: Wed Dec 31 16:00:00 1969 Selec. Rec. #: 105 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: FT923-786 _AN-CI0ADABQFT 92092 6 FT 26 SEP 92 / The Lex Column: US economy Yesterday's US economic data make gloomy reading, with the country ap parently heading towards a third leg of the recession. The brightest spot wa s the 0.1 per cent fall in August personal expenditure. After allowing for d istortions from Hurricane Andrew, that indicates a boost to the economy from consumer spending. However, consumers have been running down savings to pay for spending in recent months. They may not be able to keep that up: the da ta also showed personal income falling by 0.5 per cent. Not surprisingly, fi nancial markets are looking towards a Federal Reserve rate cut after the rel ease of September's employment report next Friday. Even if that happens it i s difficult to see the economy turning up soon. Companies have little reason to invest when both presidential candidates are offering an investment tax credit next year. Consumers may now also defer spending until the election r esult is known. And while US goods are cheap in world markets, even after th e recent rally of the dollar, slow growth around the world means poor export prospects. Wall Street may take some heart from third quarter results which show companies increasing earnings by cutting costs. Yet without a recovery , these savings may be viewed as a one-off gain, making current earnings mul tiples look too high. The Financial Times London Page 24