============= Transaction # 1 ==============================================
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============= Transaction # 2 ==============================================
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============= Transaction # 3 ==============================================
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============= Transaction # 4 ==============================================
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============= Transaction # 5 ==============================================
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<DOC>
<DOCNO>FT941-10709</DOCNO>
<PROFILE>_AN-EBHC6AE5FT</PROFILE>
<DATE>940
208
</DATE>
<HEADLINE> FT  08 FEB 94 / UK Company News: Glaxo asthma drug wi
ns US approval </HEADLINE>
<BYLINE>    By DANIEL GREEN </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P2834 Pharmaceutical Preparations.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  P
roducts & Product use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 6 ==============================================
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============= Transaction # 7 ==============================================
Transaction #:      7       Transaction Code:  19 (Record Selected)        

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<BYLINE>    By DANIEL GREEN </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
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<IN>P2834 Pharmaceutical Preparations.
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<XX>
Types:-
</XX>
<TP>TECH  P
roducts & Product use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 8 ==============================================
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  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<PROFILE>_AN-EBHC6AE5FT</PROFILE>
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208
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<HEADLINE> FT  08 FEB 94 / UK Company News: Glaxo asthma drug wi
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<BYLINE>    By DANIEL GREEN </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P2834 Pharmaceutical Preparations.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  P
roducts & Product use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 9 ==============================================
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============= Transaction # 10 ==============================================
Transaction #:     10       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 11 ==============================================
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============= Transaction # 12 ==============================================
Transaction #:     12       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 13 ==============================================
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<DOC>
<DOCNO>FT941-10709</DOCNO>
<PROFILE>_AN-EBHC6AE5FT</PROFILE>
<DATE>940
208
</DATE>
<HEADLINE> FT  08 FEB 94 / UK Company News: Glaxo asthma drug wi
ns US approval </HEADLINE>
<BYLINE>    By DANIEL GREEN </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P2834 Pharmaceutical Preparations.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  P
roducts & Product use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 14 ==============================================
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============= Transaction # 15 ==============================================
Transaction #:     15       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 16 ==============================================
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============= Transaction # 19 ==============================================
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<DOC>
<DOCNO>FT942-10654</DOCNO>
<PROFILE>_AN-EEJC9ABMFT</PROFILE>
<DATE>940
510
</DATE>
<HEADLINE> FT  10 MAY 94 / World Trade News: Scheme to increase 
tourist arrivals </HEADLINE>
<BYLINE>    By SHIRAZ SIDHVA </BYLINE>
<DATELIN
E>    NEW DELHI </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Coun
tries:-
</XX>
<CN>INZ  India, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9611 
Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>GO
VT  Government News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-14219</DOCNO>
<PROFILE>_AN-CGIA7AA5FT</PROFILE>
<DATE>920
709
</DATE>
<HEADLINE> FT  09 JUL 92 / Rise in value of Scottish tourism </H
EADLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page 8 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT943-12936</DOCNO>
<PROFILE>_AN-EGVDMABVFT</PROFILE>
<DATE>940
722
</DATE>
<HEADLINE> FT  22 JUL 94 / D-Day events boost tourism earnings <
/HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
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.
</TEXT>
<XX
>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-

</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 9 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-3827</DOCNO>
<PROFILE>_AN-DFKB5AHEFT</PROFILE>
<DATE>9306
11
</DATE>
<HEADLINE> FT  11 JUN 93 / Survey of South Africa (17): Dressed u
p with nowhere to go - The problems facing the tourist industry </HEADLINE>

<BYLINE>    By PHILIP GAWITH </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South 
Africa, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P7011 Hotels and Motels.
 
   P7999 Amusement and Recreation, NEC.
    P9611 Administration of General 
Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page VIII </PAGE>
</DOC>

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============= Transaction # 24 ==============================================
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<DOC>
<DOCNO>FT923-13940</DOCNO>
<PROFILE>_AN-CGJA7ACSFT</PROFILE>
<DATE>920
710
</DATE>
<HEADLINE> FT  10 JUL 92 / International Company News: Kaufhof p
rofits set to rise 20% </HEADLINE>
<BYLINE>    By ANDREW FISHER </BYLINE>
<D
ATELINE>    FRANKFURT </DATELINE>
<TEXT>
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.
</TEXT>

<PUB>The Financial Times </PUB>
<PAGE> London Page 24 </PAGE>
</DOC>

============= Transaction # 25 ==============================================
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<DOC>
<DOCNO>FT943-4468</DOCNO>
<PROFILE>_AN-EIHDIAFVFT</PROFILE>
<DATE>9409
08
</DATE>
<HEADLINE> FT  08 SEP 94 / International Company News: Increased 
tourism lifts Air New Zealand profit </HEADLINE>
<BYLINE>    By TERRY HALL <
/BYLINE>
<DATELINE>    WELLINGTON </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Air New Zeal
and.
</CO>
<XX>
Countries:-
</XX>
<CN>NZZ  New Zealand.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P4512 Air Transportation, Scheduled.
</IN>
<XX>
Types:-
</XX>

<TP>FIN  Annual report.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London 
Page 35 </PAGE>
</DOC>

============= Transaction # 26 ==============================================
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<DOC>
<DOCNO>FT942-7348</DOCNO>
<PROFILE>_AN-EEZDOABMFT</PROFILE>
<DATE>9405
26
</DATE>
<HEADLINE> FT  26 MAY 94 / World Trade News: Cuba sets Dollars 1b
n tourism target </HEADLINE>
<BYLINE>    By CANUTE JAMES </BYLINE>
<DATELINE
>    KINGSTON </DATELINE>
<TEXT>
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.
</TEXT>
<X
X>
Countries:-
</XX>
<CN>CUZ  Cuba, Caribbean.
</CN>
<XX>
Industries:-
</XX>

<IN>P9611 Administration of General Economic Programs.
    P79   Amusement 
and Recreation Services.
</IN>
<XX>
Types:-
</XX>
<TP>ECON  Economic Indicat
ors.
    RES  Facilities.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 8 </PAGE>
</DOC>

============= Transaction # 27 ==============================================
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<DOC>
<DOCNO>FT944-1609</DOCNO>
<PROFILE>_AN-ELSDLAFKFT</PROFILE>
<DATE>9412
19
</DATE>
<HEADLINE> FT  19 DEC 94 / Survey of Sweden (7): Growing rapidly 
- Tourism </HEADLINE>
<BYLINE>    By KAREN FOSSLI </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>SEZ  Sweden, West Europe.
</CN>
<XX
>
Industries:-
</XX>
<IN>P9611 Administration of General Economic Programs.

</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 28 ==============================================
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<DOC>
<DOCNO>FT921-15886</DOCNO>
<PROFILE>_AN-CAHBJAAPFT</PROFILE>
<DATE>920
108
</DATE>
<HEADLINE> FT  08 JAN 92 / Survey of Kenya (16): Strategies for 
all seasons - Tourism, from potential disaster to mild success </HEADLINE>
<
BYLINE>    By JULIAN OZANNE </BYLINE>
<TEXT>
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
 ----------------------------------
-------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge VIII Map (Omitted). Table </PAGE>
</DOC>

============= Transaction # 29 ==============================================
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============= Transaction # 30 ==============================================
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<DOC>
<DOCNO>FT932-2961</DOCNO>
<PROFILE>_AN-DFPCDAFXFT</PROFILE>
<DATE>9306
16
</DATE>
<HEADLINE> FT  16 JUN 93 / Survey of New Zealand (7): A surge in 
tourism - Big increase in holidaymakers from Asian countries </HEADLINE>
<BY
LINE>    By TERRY HALL </BYLINE>
<TEXT>
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.
</
TEXT>
<XX>
Countries:-
</XX>
<CN>NZZ  New Zealand.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>C
MMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London
 Page 32 </PAGE>
</DOC>

============= Transaction # 31 ==============================================
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<DOC>
<DOCNO>FT941-6132</DOCNO>
<PROFILE>_AN-ECCCVACGFT</PROFILE>
<DATE>9403
03
</DATE>
<HEADLINE> FT  03 MAR 94 / Tourism spending reaches Pounds 9.1bn 
</HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC
.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</I
N>
<XX>
Types:-
</XX>
<TP>STATS  Statistics.
</TP>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 8 </PAGE>
</DOC>

============= Transaction # 32 ==============================================
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<DOC>
<DOCNO>FT923-9561</DOCNO>
<PROFILE>_AN-CHGA7ABHFT</PROFILE>
<DATE>9208
04
</DATE>
<HEADLINE> FT  04 AUG 92 / Canals keep the recession at bay </HEA
DLINE>
<BYLINE>    By RICHARD EVANS </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC>

============= Transaction # 33 ==============================================
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<DOC>
<DOCNO>FT943-11867</DOCNO>
<PROFILE>_AN-EG1C5AB0FT</PROFILE>
<DATE>940
728
</DATE>
<HEADLINE> FT  28 JUL 94 / Outdated resorts 'hitting tourism' </
HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Co
untries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<
IN>P7999 Amusement and Recreation, NEC.
    P9611 Administration of General 
Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<P
UB>The Financial Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC>

============= Transaction # 34 ==============================================
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<DOC>
<DOCNO>FT923-3223</DOCNO>
<PROFILE>_AN-CINBUADLFT</PROFILE>
<DATE>9209
14
</DATE>
<HEADLINE> FT  14 SEP 92 / Survey on Mauritius (12): Expanding to
urism presents dilemmas - Paradise has problems </HEADLINE>
<BYLINE>    By J
ULIAN OZANNE </BYLINE>
<TEXT>
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
 ----------------------------------------
----------------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page VI </PAGE>
</DOC>

============= Transaction # 35 ==============================================
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<DOC>
<DOCNO>FT934-9708</DOCNO>
<PROFILE>_AN-DKIC6AF4FT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Survey of Australia (2): A place in th
e Pacific sun - Tourism </HEADLINE>
<BYLINE>    By BRUCE JACQUES </BYLINE>
<
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>AUZ  Australia.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>

<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page I </PAGE>
</DOC>

============= Transaction # 36 ==============================================
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<DOC>
<DOCNO>FT934-9895</DOCNO>
<PROFILE>_AN-DKIC6AATFT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Castro turns eye to tourism potential 
</HEADLINE>
<BYLINE>    By CANUTE JAMES </BYLINE>
<DATELINE>    KINGSTON </D
ATELINE>
<TEXT>
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.

</TEXT>
<XX>
Countries:-
</XX>
<CN>CUZ  Cuba, Caribbean.
</CN>
<XX>
Industri
es:-
</XX>
<IN>P9721 International Affairs.
    P9611 Administration of Gene
ral Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP
>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 37 ==============================================
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<DOC>
<DOCNO>FT923-14231</DOCNO>
<PROFILE>_AN-CGIA7AATFT</PROFILE>
<DATE>920
709
</DATE>
<HEADLINE> FT  09 JUL 92 / Japan posts huge May trade surplus </
HEADLINE>
<BYLINE>    By STEVEN BUTLER </BYLINE>
<DATELINE>    TOKYO </DATEL
INE>
<TEXT>
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.

</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>


============= Transaction # 38 ==============================================
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<DOC>
<DOCNO>FT934-9895</DOCNO>
<PROFILE>_AN-DKIC6AATFT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Castro turns eye to tourism potential 
</HEADLINE>
<BYLINE>    By CANUTE JAMES </BYLINE>
<DATELINE>    KINGSTON </D
ATELINE>
<TEXT>
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.

</TEXT>
<XX>
Countries:-
</XX>
<CN>CUZ  Cuba, Caribbean.
</CN>
<XX>
Industri
es:-
</XX>
<IN>P9721 International Affairs.
    P9611 Administration of Gene
ral Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP
>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 39 ==============================================
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<DOC>
<DOCNO>FT934-9708</DOCNO>
<PROFILE>_AN-DKIC6AF4FT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Survey of Australia (2): A place in th
e Pacific sun - Tourism </HEADLINE>
<BYLINE>    By BRUCE JACQUES </BYLINE>
<
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>AUZ  Australia.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>

<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page I </PAGE>
</DOC>

============= Transaction # 40 ==============================================
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<DOC>
<DOCNO>FT934-9708</DOCNO>
<PROFILE>_AN-DKIC6AF4FT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Survey of Australia (2): A place in th
e Pacific sun - Tourism </HEADLINE>
<BYLINE>    By BRUCE JACQUES </BYLINE>
<
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>AUZ  Australia.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>

<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page I </PAGE>
</DOC>

============= Transaction # 41 ==============================================
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<DOC>
<DOCNO>FT942-10654</DOCNO>
<PROFILE>_AN-EEJC9ABMFT</PROFILE>
<DATE>940
510
</DATE>
<HEADLINE> FT  10 MAY 94 / World Trade News: Scheme to increase 
tourist arrivals </HEADLINE>
<BYLINE>    By SHIRAZ SIDHVA </BYLINE>
<DATELIN
E>    NEW DELHI </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Coun
tries:-
</XX>
<CN>INZ  India, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9611 
Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>GO
VT  Government News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

============= Transaction # 42 ==============================================
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<DOC>
<DOCNO>FT923-14219</DOCNO>
<PROFILE>_AN-CGIA7AA5FT</PROFILE>
<DATE>920
709
</DATE>
<HEADLINE> FT  09 JUL 92 / Rise in value of Scottish tourism </H
EADLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page 8 </PAGE>
</DOC>

============= Transaction # 43 ==============================================
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<DOC>
<DOCNO>FT943-12936</DOCNO>
<PROFILE>_AN-EGVDMABVFT</PROFILE>
<DATE>940
722
</DATE>
<HEADLINE> FT  22 JUL 94 / D-Day events boost tourism earnings <
/HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
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.
</TEXT>
<XX
>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-

</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 9 </PAGE>
</DOC>

============= Transaction # 44 ==============================================
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<DOC>
<DOCNO>FT932-3827</DOCNO>
<PROFILE>_AN-DFKB5AHEFT</PROFILE>
<DATE>9306
11
</DATE>
<HEADLINE> FT  11 JUN 93 / Survey of South Africa (17): Dressed u
p with nowhere to go - The problems facing the tourist industry </HEADLINE>

<BYLINE>    By PHILIP GAWITH </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South 
Africa, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P7011 Hotels and Motels.
 
   P7999 Amusement and Recreation, NEC.
    P9611 Administration of General 
Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 45 ==============================================
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<DOC>
<DOCNO>FT923-13940</DOCNO>
<PROFILE>_AN-CGJA7ACSFT</PROFILE>
<DATE>920
710
</DATE>
<HEADLINE> FT  10 JUL 92 / International Company News: Kaufhof p
rofits set to rise 20% </HEADLINE>
<BYLINE>    By ANDREW FISHER </BYLINE>
<D
ATELINE>    FRANKFURT </DATELINE>
<TEXT>
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.
</TEXT>

<PUB>The Financial Times </PUB>
<PAGE> London Page 24 </PAGE>
</DOC>

============= Transaction # 46 ==============================================
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<DOC>
<DOCNO>FT943-4468</DOCNO>
<PROFILE>_AN-EIHDIAFVFT</PROFILE>
<DATE>9409
08
</DATE>
<HEADLINE> FT  08 SEP 94 / International Company News: Increased 
tourism lifts Air New Zealand profit </HEADLINE>
<BYLINE>    By TERRY HALL <
/BYLINE>
<DATELINE>    WELLINGTON </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Air New Zeal
and.
</CO>
<XX>
Countries:-
</XX>
<CN>NZZ  New Zealand.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P4512 Air Transportation, Scheduled.
</IN>
<XX>
Types:-
</XX>

<TP>FIN  Annual report.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London 
Page 35 </PAGE>
</DOC>

============= Transaction # 47 ==============================================
Transaction #:     47       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT942-7348</DOCNO>
<PROFILE>_AN-EEZDOABMFT</PROFILE>
<DATE>9405
26
</DATE>
<HEADLINE> FT  26 MAY 94 / World Trade News: Cuba sets Dollars 1b
n tourism target </HEADLINE>
<BYLINE>    By CANUTE JAMES </BYLINE>
<DATELINE
>    KINGSTON </DATELINE>
<TEXT>
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.
</TEXT>
<X
X>
Countries:-
</XX>
<CN>CUZ  Cuba, Caribbean.
</CN>
<XX>
Industries:-
</XX>

<IN>P9611 Administration of General Economic Programs.
    P79   Amusement 
and Recreation Services.
</IN>
<XX>
Types:-
</XX>
<TP>ECON  Economic Indicat
ors.
    RES  Facilities.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 8 </PAGE>
</DOC>

============= Transaction # 48 ==============================================
Transaction #:     48       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT944-1609</DOCNO>
<PROFILE>_AN-ELSDLAFKFT</PROFILE>
<DATE>9412
19
</DATE>
<HEADLINE> FT  19 DEC 94 / Survey of Sweden (7): Growing rapidly 
- Tourism </HEADLINE>
<BYLINE>    By KAREN FOSSLI </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>SEZ  Sweden, West Europe.
</CN>
<XX
>
Industries:-
</XX>
<IN>P9611 Administration of General Economic Programs.

</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 49 ==============================================
Transaction #:     49       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT921-15886</DOCNO>
<PROFILE>_AN-CAHBJAAPFT</PROFILE>
<DATE>920
108
</DATE>
<HEADLINE> FT  08 JAN 92 / Survey of Kenya (16): Strategies for 
all seasons - Tourism, from potential disaster to mild success </HEADLINE>
<
BYLINE>    By JULIAN OZANNE </BYLINE>
<TEXT>
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
 ----------------------------------
-------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge VIII Map (Omitted). Table </PAGE>
</DOC>

============= Transaction # 50 ==============================================
Transaction #:     50       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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Selec. Rec. #:     30

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<DOC>
<DOCNO>FT934-9708</DOCNO>
<PROFILE>_AN-DKIC6AF4FT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Survey of Australia (2): A place in th
e Pacific sun - Tourism </HEADLINE>
<BYLINE>    By BRUCE JACQUES </BYLINE>
<
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>AUZ  Australia.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>

<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page I </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-9895</DOCNO>
<PROFILE>_AN-DKIC6AATFT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Castro turns eye to tourism potential 
</HEADLINE>
<BYLINE>    By CANUTE JAMES </BYLINE>
<DATELINE>    KINGSTON </D
ATELINE>
<TEXT>
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.

</TEXT>
<XX>
Countries:-
</XX>
<CN>CUZ  Cuba, Caribbean.
</CN>
<XX>
Industri
es:-
</XX>
<IN>P9721 International Affairs.
    P9611 Administration of Gene
ral Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP
>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-14231</DOCNO>
<PROFILE>_AN-CGIA7AATFT</PROFILE>
<DATE>920
709
</DATE>
<HEADLINE> FT  09 JUL 92 / Japan posts huge May trade surplus </
HEADLINE>
<BYLINE>    By STEVEN BUTLER </BYLINE>
<DATELINE>    TOKYO </DATEL
INE>
<TEXT>
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.

</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>


============= Transaction # 53 ==============================================
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<DOC>
<DOCNO>FT941-17371</DOCNO>
<PROFILE>_AN-EAECPABKFT</PROFILE>
<DATE>940
105
</DATE>
<HEADLINE> FT  05 JAN 94 / World Trade News: Global tourism up 3
.8% </HEADLINE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries Corresp
ondent </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XBZ  North Americ
a.
    XEZ  South America.
    XGZ  Europe.
    XOZ  Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</X
X>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Lond
on Page 4 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT924-1723</DOCNO>
<PROFILE>_AN-CLPCOAFXFT</PROFILE>
<DATE>9212
16
</DATE>
<HEADLINE> FT  16 DEC 92 / Scottish tourism suffers 1% fall </HEA
DLINE>
<BYLINE>    By JAMES BUXTON </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 7 <
/PAGE>
</DOC>

============= Transaction # 55 ==============================================
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<DOC>
<DOCNO>FT923-6187</DOCNO>
<PROFILE>_AN-CH0BVABKFT</PROFILE>
<DATE>9208
26
</DATE>
<HEADLINE> FT  26 AUG 92 / 18% jump in visitors to Northern Irela
nd </HEADLINE>
<TEXT>
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.'
</TEXT>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 56 ==============================================
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<DOC>
<DOCNO>FT944-12438</DOCNO>
<PROFILE>_AN-EKAEZAHRFT</PROFILE>
<DATE>941
101
</DATE>
<HEADLINE> FT  01 NOV 94 / Survey of Australia (8): Harvest in t
he hotels - Japanese tourists flock in </HEADLINE>
<BYLINE>    By BRUCE JACQ
UES </BYLINE>
<TEXT>
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.'
</TEXT>
<XX>
Countries
:-
</XX>
<CN>JPZ  Japan, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amuse
ment and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analy
sis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page IV </PAGE>
</D
OC>

============= Transaction # 57 ==============================================
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============= Transaction # 58 ==============================================
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<DOC>
<DOCNO>FT922-11810</DOCNO>
<PROFILE>_AN-CDWA1AEBFT</PROFILE>
<DATE>920
423
</DATE>
<HEADLINE> FT  23 APR 92 / Scots business optimism rises </HEADL
INE>
<BYLINE>    By JAMES BUXTON, Scottish Correspondent </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PU
B>
<PAGE> London Page 11 </PAGE>
</DOC>

============= Transaction # 59 ==============================================
Transaction #:     59       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT941-17376</DOCNO>
<PROFILE>_AN-EAECPABFFT</PROFILE>
<DATE>940
105
</DATE>
<HEADLINE> FT  05 JAN 94 / World Trade News: Global tourism clim
bs by 3.8% </HEADLINE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries 
Correspondent </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XB
Z  North America.
    XEZ  South America.
    XGZ  Europe.
    XOZ  Asia.
</
CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<
XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </P
UB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 60 ==============================================
Transaction #:     60       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT942-1532</DOCNO>
<PROFILE>_AN-EFWDNAGLFT</PROFILE>
<DATE>9406
23
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By JOHN BURTON </BYLINE>
<TEXT>
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.

</TEXT>
<XX>
Countries:-
</XX>
<CN>KRZ  South Korea, Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P9641 Regulation of Agricultural Marketing.
    P9721 Inter
national Affairs.
    P953  Housing and Urban Development.
</IN>
<XX>
Types:
-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 61 ==============================================
Transaction #:     61       Transaction Code:  19 (Record Selected)        

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT942-1532</DOCNO>
<PROFILE>_AN-EFWDNAGLFT</PROFILE>
<DATE>9406
23
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By JOHN BURTON </BYLINE>
<TEXT>
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.

</TEXT>
<XX>
Countries:-
</XX>
<CN>KRZ  South Korea, Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P9641 Regulation of Agricultural Marketing.
    P9721 Inter
national Affairs.
    P953  Housing and Urban Development.
</IN>
<XX>
Types:
-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 62 ==============================================
Transaction #:     62       Transaction Code:  22 (Record(s) Saved)        

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Selec. Rec. #:     39

Boolean Indexes Used:

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<DOC>
<DOCNO>FT942-1532</DOCNO>
<PROFILE>_AN-EFWDNAGLFT</PROFILE>
<DATE>9406
23
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By JOHN BURTON </BYLINE>
<TEXT>
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.

</TEXT>
<XX>
Countries:-
</XX>
<CN>KRZ  South Korea, Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P9641 Regulation of Agricultural Marketing.
    P9721 Inter
national Affairs.
    P953  Housing and Urban Development.
</IN>
<XX>
Types:
-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page VIII </PAGE>
</DOC>

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<DOC>
<DOCNO>FT924-11907</DOCNO>
<PROFILE>_AN-CJWBWACRFT</PROFILE>
<DATE>921
023
</DATE>
<HEADLINE> FT  23 OCT 92 / International Company News: Aeroports
 de Paris more than doubles first-half net </HEADLINE>
<BYLINE>    By ALICE 
RAWSTHORN </BYLINE>
<DATELINE>    PARIS </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 2
6 </PAGE>
</DOC>

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<PROFILE>_AN-CJWBWACRFT</PROFILE>
<DATE>921
023
</DATE>
<HEADLINE> FT  23 OCT 92 / International Company News: Aeroports
 de Paris more than doubles first-half net </HEADLINE>
<BYLINE>    By ALICE 
RAWSTHORN </BYLINE>
<DATELINE>    PARIS </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 2
6 </PAGE>
</DOC>

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<PROFILE>_AN-CJWBWACRFT</PROFILE>
<DATE>921
023
</DATE>
<HEADLINE> FT  23 OCT 92 / International Company News: Aeroports
 de Paris more than doubles first-half net </HEADLINE>
<BYLINE>    By ALICE 
RAWSTHORN </BYLINE>
<DATELINE>    PARIS </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 2
6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT942-7546</DOCNO>
<PROFILE>_AN-EEYDRAC6FT</PROFILE>
<DATE>9405
25
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By JANE MARTINSON </BYLINE>
<TEXT>
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.'
</TEXT>
<XX>
Com
panies:-
</XX>
<CO>British Waterways Board.
</CO>
<XX>
Countries:-
</XX>
<CN
>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P4499 Water Tran
sportation Services, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analy
sis.
    TECH  Services & Services use.
</TP>
<PUB>The Financial Times </PUB
>
<PAGE> London Page 20 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT911-1325</DOCNO>
<PROFILE>_AN-BEGBDAB7FT</PROFILE>
<DATE>9105
07
</DATE>
<HEADLINE> FT  07 MAY 91 / International Company News: Wagons-Lit
s slips more than 60% in year </HEADLINE>
<BYLINE>    By ANDREW HILL </BYLIN
E>
<DATELINE>    BRUSSELS </DATELINE>
<TEXT>
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
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 23 </PAGE>
</DO
C>

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<DOC>
<DOCNO>FT924-1176</DOCNO>
<PROFILE>_AN-CLTALABOFT</PROFILE>
<DATE>9212
19
</DATE>
<HEADLINE> FT  19 DEC 92 / Business failures rise by 48% in north
-west </HEADLINE>
<BYLINE>    By IAN HAMILTON FAZEY, Northern Correspondent 
</BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 5 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-11432</DOCNO>
<PROFILE>_AN-DKACHABGFT</PROFILE>
<DATE>931
101
</DATE>
<HEADLINE> FT  01 NOV 93 / Hotel optimism </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GB
Z  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P7011 Hotels and Mo
tels.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT943-14065</DOCNO>
<PROFILE>_AN-EGQAAABAFT</PROFILE>
<DATE>940
716
</DATE>
<HEADLINE> FT  16 JUL 94 / Waterways board increases income </HE
ADLINE>
<BYLINE>    By JANE MARTINSON </BYLINE>
<TEXT>
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.'
</TEXT>
<XX>
Companies:-
</XX>
<CO>British Water
ways Board (UK).
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
<
/CN>
<XX>
Industries:-
</XX>
<IN>P4499 Water Transportation Services, NEC.
<
/IN>
<XX>
Types:-
</XX>
<TP>FIN  Annual report.
</TP>
<PUB>The Financial Tim
es </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 71 ==============================================
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<DOC>
<DOCNO>FT933-8438</DOCNO>
<PROFILE>_AN-DHPB3ABTFT</PROFILE>
<DATE>9308
16
</DATE>
<HEADLINE> FT  16 AUG 93 / Bright spots among the tourism gloom: 
The industry's patchy upturn </HEADLINE>
<BYLINE>    By MICHAEL SKAPINKER </
BYLINE>
<TEXT>
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.
</TEXT>
<XX>
C
ountries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>

<IN>P5812 Eating Places.
    P7011 Hotels and Motels.
    P7999 Amusement an
d Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 7 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT924-14658</DOCNO>
<PROFILE>_AN-CJHBUAGFFT</PROFILE>
<DATE>921
008
</DATE>
<HEADLINE> FT  08 OCT 92 / Survey on Austria (11): Hotel owners 
calculate carefully - Tourism aims at quality </HEADLINE>
<BYLINE>    By IAN
 RODGER </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 73 ==============================================
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<DOC>
<DOCNO>FT922-2489</DOCNO>
<PROFILE>_AN-CFQA6AAWFT</PROFILE>
<DATE>9206
17
</DATE>
<HEADLINE> FT  17 JUN 92 / US figures point to sustained recovery
 </HEADLINE>
<BYLINE>    By MICHAEL PROWSE </BYLINE>
<DATELINE>    WASHINGTO
N </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE
> London Page 6 </PAGE>
</DOC>

============= Transaction # 74 ==============================================
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============= Transaction # 75 ==============================================
Transaction #:     75       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT943-4834</DOCNO>
<PROFILE>_AN-EIGDVACNFT</PROFILE>
<DATE>9409
07
</DATE>
<HEADLINE> FT  07 SEP 94 / Survey of Enterprise in Wales (3): Fro
m slagheaps to showpieces - Tourism </HEADLINE>
<BYLINE>    By RICHARD EVANS
 </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9611 
Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CM
MT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London 
Page 14 </PAGE>
</DOC>

============= Transaction # 76 ==============================================
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<DOC>
<DOCNO>FT922-4619</DOCNO>
<PROFILE>_AN-CFDA4AEIFT</PROFILE>
<DATE>9206
04
</DATE>
<HEADLINE> FT  04 JUN 92 / Rise in number of foreign tourists </H
EADLINE>
<DATELINE>    A TOTAL of 220,000 north Americans visited the UK in 
March </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Fina
ncial Times </PUB>
<PAGE> London Page 10 </PAGE>
</DOC>

============= Transaction # 77 ==============================================
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<DOC>
<DOCNO>FT941-3493</DOCNO>
<PROFILE>_AN-ECQAKACIFT</PROFILE>
<DATE>9403
16
</DATE>
<HEADLINE> FT  16 MAR 94 / Curb wind farms, says tourist board </
HEADLINE>
<BYLINE>    By ROLAND ADBURGHAM, Wales and West Correspondent </BY
LINE>
<TEXT>
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.
</TEXT>
<XX>
Countri
es:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P4
911 Electric Services.
    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
T
ypes:-
</XX>
<TP>RES  Energy use.
    MGMT  Management & Marketing.
</TP>
<P
UB>The Financial Times </PUB>
<PAGE> London Page 11 </PAGE>
</DOC>

============= Transaction # 78 ==============================================
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============= Transaction # 80 ==============================================
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<DOC>
<DOCNO>FT943-11047</DOCNO>
<PROFILE>_AN-EHBDUABRFT</PROFILE>
<DATE>940
802
</DATE>
<HEADLINE> FT  02 AUG 94 / Tourists return to more peaceful Egyp
t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
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.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 81 ==============================================
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<DOC>
<DOCNO>FT943-11047</DOCNO>
<PROFILE>_AN-EHBDUABRFT</PROFILE>
<DATE>940
802
</DATE>
<HEADLINE> FT  02 AUG 94 / Tourists return to more peaceful Egyp
t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
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.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 82 ==============================================
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<DOC>
<DOCNO>FT943-11047</DOCNO>
<PROFILE>_AN-EHBDUABRFT</PROFILE>
<DATE>940
802
</DATE>
<HEADLINE> FT  02 AUG 94 / Tourists return to more peaceful Egyp
t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
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.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 83 ==============================================
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<DOC>
<DOCNO>FT924-8062</DOCNO>
<PROFILE>_AN-CKMB5AAZFT</PROFILE>
<DATE>9211
13
</DATE>
<HEADLINE> FT  13 NOV 92 / German tourists attacked in Egypt </HE
ADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    CAIRO </DATELINE>
<TEX
T>
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.
</TEXT>
<PUB>The Financial T
imes </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 84 ==============================================
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<DOC>
<DOCNO>FT921-13393</DOCNO>
<PROFILE>_AN-CAVBGAAZFT</PROFILE>
<DATE>920
122
</DATE>
<HEADLINE> FT  22 JAN 92 / Brazil launches drive to boost touris
t industry </HEADLINE>
<BYLINE>    By CHRISTINA LAMB </BYLINE>
<DATELINE>   
 RIO DE JANEIRO </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 4 </PAGE>
</DOC>

============= Transaction # 85 ==============================================
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<DOC>
<DOCNO>FT932-16493</DOCNO>
<PROFILE>_AN-DDFCIABMFT</PROFILE>
<DATE>930
406
</DATE>
<HEADLINE> FT  06 APR 93 / Kenya's tourist industry suffers big 
fall in revenue </HEADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    NA
IROBI </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>KEZ  Kenya
, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9311 Finance, Taxation, and Mon
etary Policy.
    P9611 Administration of General Economic Programs.
</IN>
<
XX>
Types:-
</XX>
<TP>GOVT  Government News.
</TP>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 86 ==============================================
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<DOC>
<DOCNO>FT932-16493</DOCNO>
<PROFILE>_AN-DDFCIABMFT</PROFILE>
<DATE>930
406
</DATE>
<HEADLINE> FT  06 APR 93 / Kenya's tourist industry suffers big 
fall in revenue </HEADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    NA
IROBI </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>KEZ  Kenya
, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9311 Finance, Taxation, and Mon
etary Policy.
    P9611 Administration of General Economic Programs.
</IN>
<
XX>
Types:-
</XX>
<TP>GOVT  Government News.
</TP>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 87 ==============================================
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<DOC>
<DOCNO>FT932-16493</DOCNO>
<PROFILE>_AN-DDFCIABMFT</PROFILE>
<DATE>930
406
</DATE>
<HEADLINE> FT  06 APR 93 / Kenya's tourist industry suffers big 
fall in revenue </HEADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    NA
IROBI </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>KEZ  Kenya
, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9311 Finance, Taxation, and Mon
etary Policy.
    P9611 Administration of General Economic Programs.
</IN>
<
XX>
Types:-
</XX>
<TP>GOVT  Government News.
</TP>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 88 ==============================================
Transaction #:     88       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT931-887</DOCNO>
<PROFILE>_AN-DC1AGAB7FT</PROFILE>
<DATE>93032
7
</DATE>
<HEADLINE> FT  27 MAR 93 / When terror takes a toll: How internati
onal tourist destinations are affected by political violence </HEADLINE>
<BY
LINE>    By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON </BYLINE>
<TEXT
>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>

Types:-
</XX>
<TP>IND  Industry profile.
    MKTS  Shipments.
    GOVT  Lega
l issues.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 9 </PAGE>

</DOC>

============= Transaction # 89 ==============================================
Transaction #:     89       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT933-12228</DOCNO>
<PROFILE>_AN-DGZB2AARFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Four hurt in Turk bombing </HEADLINE>

<BYLINE>    By Agencies </BYLINE>
<TEXT>
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.
</TEXT>
<XX>

Countries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS
  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

============= Transaction # 90 ==============================================
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<DOC>
<DOCNO>FT924-12197</DOCNO>
<PROFILE>_AN-CJVB5AA9FT</PROFILE>
<DATE>921
022
</DATE>
<HEADLINE> FT  22 OCT 92 / British tourist killed by gunmen on E
gypt tour </HEADLINE>
<BYLINE>    By TONY WALKER </BYLINE>
<DATELINE>    CAI
RO </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 91 ==============================================
Transaction #:     91       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT933-12228</DOCNO>
<PROFILE>_AN-DGZB2AARFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Four hurt in Turk bombing </HEADLINE>

<BYLINE>    By Agencies </BYLINE>
<TEXT>
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.
</TEXT>
<XX>

Countries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS
  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

============= Transaction # 92 ==============================================
Transaction #:     92       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT933-12228</DOCNO>
<PROFILE>_AN-DGZB2AARFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Four hurt in Turk bombing </HEADLINE>

<BYLINE>    By Agencies </BYLINE>
<TEXT>
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.
</TEXT>
<XX>

Countries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS
  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-12228</DOCNO>
<PROFILE>_AN-DGZB2AARFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Four hurt in Turk bombing </HEADLINE>

<BYLINE>    By Agencies </BYLINE>
<TEXT>
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.
</TEXT>
<XX>

Countries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS
  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

============= Transaction # 94 ==============================================
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<DOC>
<DOCNO>FT931-887</DOCNO>
<PROFILE>_AN-DC1AGAB7FT</PROFILE>
<DATE>93032
7
</DATE>
<HEADLINE> FT  27 MAR 93 / When terror takes a toll: How internati
onal tourist destinations are affected by political violence </HEADLINE>
<BY
LINE>    By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON </BYLINE>
<TEXT
>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>

Types:-
</XX>
<TP>IND  Industry profile.
    MKTS  Shipments.
    GOVT  Lega
l issues.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 9 </PAGE>

</DOC>

============= Transaction # 95 ==============================================
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<DOC>
<DOCNO>FT933-12228</DOCNO>
<PROFILE>_AN-DGZB2AARFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Four hurt in Turk bombing </HEADLINE>

<BYLINE>    By Agencies </BYLINE>
<TEXT>
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.
</TEXT>
<XX>

Countries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS
  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

============= Transaction # 96 ==============================================
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<DOC>
<DOCNO>FT924-12197</DOCNO>
<PROFILE>_AN-CJVB5AA9FT</PROFILE>
<DATE>921
022
</DATE>
<HEADLINE> FT  22 OCT 92 / British tourist killed by gunmen on E
gypt tour </HEADLINE>
<BYLINE>    By TONY WALKER </BYLINE>
<DATELINE>    CAI
RO </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 97 ==============================================
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<DOC>
<DOCNO>FT931-4450</DOCNO>
<PROFILE>_AN-DCKCYABAFT</PROFILE>
<DATE>9303
11
</DATE>
<HEADLINE> FT  11 MAR 93 / Egyptian crackdown leaves 14 militants
 dead </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIR
O </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</C
N>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX
>
Types:-
</XX>
<TP>PEOP  Personnel News.
    GOVT  Legal issues.
</TP>
<PUB
>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 98 ==============================================
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<DOC>
<DOCNO>FT921-6602</DOCNO>
<PROFILE>_AN-CB0CIABFFT</PROFILE>
<DATE>9202
27
</DATE>
<HEADLINE> FT  27 FEB 92 / Rio business protests at rising crime 
</HEADLINE>
<BYLINE>    By CHRISTINA LAMB </BYLINE>
<DATELINE>    RIO DE JAN
EIRO </DATELINE>
<TEXT>
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.
</
TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT921-6602</DOCNO>
<PROFILE>_AN-CB0CIABFFT</PROFILE>
<DATE>9202
27
</DATE>
<HEADLINE> FT  27 FEB 92 / Rio business protests at rising crime 
</HEADLINE>
<BYLINE>    By CHRISTINA LAMB </BYLINE>
<DATELINE>    RIO DE JAN
EIRO </DATELINE>
<TEXT>
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.
</
TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT921-6602</DOCNO>
<PROFILE>_AN-CB0CIABFFT</PROFILE>
<DATE>9202
27
</DATE>
<HEADLINE> FT  27 FEB 92 / Rio business protests at rising crime 
</HEADLINE>
<BYLINE>    By CHRISTINA LAMB </BYLINE>
<DATELINE>    RIO DE JAN
EIRO </DATELINE>
<TEXT>
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.
</
TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-7061</DOCNO>
<PROFILE>_AN-DEZCHAA9FT</PROFILE>
<DATE>9305
26
</DATE>
<HEADLINE> FT  26 MAY 93 / Amnesty attacks Egypt's record </HEADL
INE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </DATELINE>

<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX
>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Ord
er and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<
PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-12416</DOCNO>
<PROFILE>_AN-DJ0CNABGFT</PROFILE>
<DATE>931
027
</DATE>
<HEADLINE> FT  27 OCT 93 / Tourists shot in Cairo hotel </HEADLI
NE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </DATELINE>

<TEXT>
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.
</TEXT>
<X
X>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
</XX>
<
IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  Ge
neral News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 8 </PAG
E>
</DOC>

============= Transaction # 103 ==============================================
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<DOC>
<DOCNO>FT924-11275</DOCNO>
<PROFILE>_AN-CJ0BMABVFT</PROFILE>
<DATE>921
027
</DATE>
<HEADLINE> FT  27 OCT 92 / Extremists' knife enters near Egypt's
 heart: The threat to tourism from the recent attacks on foreigners </HEADLI
NE>
<BYLINE>    By TONY WALKER and MICHAEL SKAPINKER </BYLINE>
<TEXT>
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
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC
>

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============= Transaction # 105 ==============================================
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<DOC>
<DOCNO>FT933-1145</DOCNO>
<PROFILE>_AN-DIZABAAYFT</PROFILE>
<DATE>9309
25
</DATE>
<HEADLINE> FT  25 SEP 93 / Taxi war highlights big growth in rack
eteering </HEADLINE>
<BYLINE>    By PATRICK BLUM </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
<
/XX>
<CN>PLZ  Poland, East Europe.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 P
ublic Order and Safety, NEC.
    P4121 Taxicabs.
</IN>
<XX>
Types:-
</XX>
<T
P>TECH  Safety & Standards.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Lon
don Page 3 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-7733</DOCNO>
<PROFILE>_AN-DKRC7AGVFT</PROFILE>
<DATE>9311
18
</DATE>
<HEADLINE> FT  18 NOV 93 / Survey of South Africa - Open for inve
stment (20): Playground for visitors - Tourism </HEADLINE>
<BYLINE>    By TO
NY HAWKINS </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South Africa, Africa.
</CN>
<XX>

Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9611 Admini
stration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Co
mment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 4
0 </PAGE>
</DOC>

============= Transaction # 107 ==============================================
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<DOC>
<DOCNO>FT941-11012</DOCNO>
<PROFILE>_AN-EBGC7AB9FT</PROFILE>
<DATE>940
207
</DATE>
<HEADLINE> FT  07 FEB 94 / Business Travel (Travel Update): Carn
ival time </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>BRZ  Brazil, South Ameri
ca.
</CN>
<XX>
Industries:-
</XX>
<IN>P7011 Hotels and Motels.
</IN>
<XX>
Ty
pes:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 13 </PAGE>
</DOC>

============= Transaction # 108 ==============================================
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<DOC>
<DOCNO>FT942-15963</DOCNO>
<PROFILE>_AN-EDMEUAA9FT</PROFILE>
<DATE>940
413
</DATE>
<HEADLINE> FT  13 APR 94 / Extra powers for Guatemala army: Wave
 of unrest and violence against foreigners </HEADLINE>
<BYLINE>    By REUTER
 </BYLINE>
<DATELINE>    GUATEMALA CITY </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GTZ  Guatemala, C
entral America.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affair
s.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 109 ==============================================
Transaction #:    109       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT942-15963</DOCNO>
<PROFILE>_AN-EDMEUAA9FT</PROFILE>
<DATE>940
413
</DATE>
<HEADLINE> FT  13 APR 94 / Extra powers for Guatemala army: Wave
 of unrest and violence against foreigners </HEADLINE>
<BYLINE>    By REUTER
 </BYLINE>
<DATELINE>    GUATEMALA CITY </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GTZ  Guatemala, C
entral America.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affair
s.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 110 ==============================================
Transaction #:    110       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT942-15963</DOCNO>
<PROFILE>_AN-EDMEUAA9FT</PROFILE>
<DATE>940
413
</DATE>
<HEADLINE> FT  13 APR 94 / Extra powers for Guatemala army: Wave
 of unrest and violence against foreigners </HEADLINE>
<BYLINE>    By REUTER
 </BYLINE>
<DATELINE>    GUATEMALA CITY </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GTZ  Guatemala, C
entral America.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affair
s.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 111 ==============================================
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<DOC>
<DOCNO>FT932-4527</DOCNO>
<PROFILE>_AN-DFICHABHFT</PROFILE>
<DATE>9306
09
</DATE>
<HEADLINE> FT  09 JUN 93 / Islamic militants bomb bus in Egypt </
HEADLINE>
<BYLINE>    By ROGER MATTHEWS, Middle East Editor </BYLINE>
<TEXT>

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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>

<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>

Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 112 ==============================================
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<DOC>
<DOCNO>FT923-13748</DOCNO>
<PROFILE>_AN-CGLAFAB7FT</PROFILE>
<DATE>920
711
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By TIM BURT </BYLINE>
<TEXT>

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.
</TEXT>
<PUB>The Financial T
imes </PUB>
<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 113 ==============================================
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<DOC>
<DOCNO>FT931-1884</DOCNO>
<PROFILE>_AN-DCXAWAFKFT</PROFILE>
<DATE>9303
23
</DATE>
<HEADLINE> FT  23 MAR 93 / Egypt focuses firepower on militants: 
Islamic extremists have forced Cairo to write off tourist revenues </HEADLIN
E>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9611 Administration of General Economic Programs.
    P92
29 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>GOVT  Governme
nt News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>

</DOC>

============= Transaction # 114 ==============================================
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<DOC>
<DOCNO>FT911-1104</DOCNO>
<PROFILE>_AN-BEHBSADXFT</PROFILE>
<DATE>9105
08
</DATE>
<HEADLINE> FT  08 MAY 91 / Operators review travel to Yugoslavia 
</HEADLINE>
<BYLINE>    By DAVID CHURCHILL </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page 8 </PAGE>
</DOC>

============= Transaction # 115 ==============================================
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<DOC>
<DOCNO>FT924-11146</DOCNO>
<PROFILE>_AN-CJ0BMAFYFT</PROFILE>
<DATE>921
027
</DATE>
<HEADLINE> FT  27 OCT 92 / Survey of Sri Lanka (13): Growth cont
inues despite conflict  -Tourism </HEADLINE>
<BYLINE>    By DAVID PILLING </
BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB
>
<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 116 ==============================================
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<DOC>
<DOCNO>FT934-12157</DOCNO>
<PROFILE>_AN-DJ1C4ABAFT</PROFILE>
<DATE>931
028
</DATE>
<HEADLINE> FT  28 OCT 93 / Tourism hit by shootings in Cairo </H
EADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </DATEL
INE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egyp
t, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, 
NEC.
    P9311 Finance, Taxation, and Monetary Policy.
    P9611 Administrat
ion of General Economic Programs.
    P7011 Hotels and Motels.
</IN>
<XX>
Ty
pes:-
</XX>
<TP>ECON  Employment & unemployment.
    ECON  Economic Indicato
rs.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC
>

============= Transaction # 117 ==============================================
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<DOC>
<DOCNO>FT933-15380</DOCNO>
<PROFILE>_AN-DGICIABGFT</PROFILE>
<DATE>930
709
</DATE>
<HEADLINE> FT  09 JUL 93 / Egypt hangs seven for terrorism </HEA
DLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </DATELIN
E>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
I
ndustries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-

</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 4 </PAGE>
</DOC>

============= Transaction # 118 ==============================================
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<DOC>
<DOCNO>FT941-5407</DOCNO>
<PROFILE>_AN-ECGC1AB6FT</PROFILE>
<DATE>9403
07
</DATE>
<HEADLINE> FT  07 MAR 94 / Business Travel (Update): Egyptian fea
r </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN
>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9229
 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General Ne
ws.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 15 </PAGE>
</DO
C>

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============= Transaction # 120 ==============================================
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<DOC>
<DOCNO>FT933-3290</DOCNO>
<PROFILE>_AN-DIOCVAAHFT</PROFILE>
<DATE>9309
15
</DATE>
<HEADLINE> FT  15 SEP 93 / Florida cancels tourism campaign after
 murder </HEADLINE>
<BYLINE>    By GEORGE GRAHAM </BYLINE>
<DATELINE>    WAS
HINGTON </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P9229 Public Order and Safety, NEC.
    P4724 Travel Agencies.
    P472
5 Tour Operators.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PU
B>The Financial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 121 ==============================================
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<DOC>
<DOCNO>FT943-9495</DOCNO>
<PROFILE>_AN-EHKC0AA0FT</PROFILE>
<DATE>9408
11
</DATE>
<HEADLINE> FT  11 AUG 94 / Israel and PLO agree to speed talks </
HEADLINE>
<BYLINE>    By JULIAN OZANNE </BYLINE>
<DATELINE>    JERUSALEM </D
ATELINE>
<TEXT>
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
</TEXT>
<XX>
Coun
tries:-
</XX>
<CN>ILZ  Israel, Middle East.
</CN>
<XX>
Industries:-
</XX>
<I
N>P9721 International Affairs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General Ne
ws.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC
>

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<DOC>
<DOCNO>FT933-3290</DOCNO>
<PROFILE>_AN-DIOCVAAHFT</PROFILE>
<DATE>9309
15
</DATE>
<HEADLINE> FT  15 SEP 93 / Florida cancels tourism campaign after
 murder </HEADLINE>
<BYLINE>    By GEORGE GRAHAM </BYLINE>
<DATELINE>    WAS
HINGTON </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P9229 Public Order and Safety, NEC.
    P4724 Travel Agencies.
    P472
5 Tour Operators.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PU
B>The Financial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 123 ==============================================
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<DOC>
<DOCNO>FT933-3290</DOCNO>
<PROFILE>_AN-DIOCVAAHFT</PROFILE>
<DATE>9309
15
</DATE>
<HEADLINE> FT  15 SEP 93 / Florida cancels tourism campaign after
 murder </HEADLINE>
<BYLINE>    By GEORGE GRAHAM </BYLINE>
<DATELINE>    WAS
HINGTON </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P9229 Public Order and Safety, NEC.
    P4724 Travel Agencies.
    P472
5 Tour Operators.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PU
B>The Financial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 124 ==============================================
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<DOC>
<DOCNO>FT933-3290</DOCNO>
<PROFILE>_AN-DIOCVAAHFT</PROFILE>
<DATE>9309
15
</DATE>
<HEADLINE> FT  15 SEP 93 / Florida cancels tourism campaign after
 murder </HEADLINE>
<BYLINE>    By GEORGE GRAHAM </BYLINE>
<DATELINE>    WAS
HINGTON </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P9229 Public Order and Safety, NEC.
    P4724 Travel Agencies.
    P472
5 Tour Operators.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PU
B>The Financial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 125 ==============================================
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<DOC>
<DOCNO>FT943-9495</DOCNO>
<PROFILE>_AN-EHKC0AA0FT</PROFILE>
<DATE>9408
11
</DATE>
<HEADLINE> FT  11 AUG 94 / Israel and PLO agree to speed talks </
HEADLINE>
<BYLINE>    By JULIAN OZANNE </BYLINE>
<DATELINE>    JERUSALEM </D
ATELINE>
<TEXT>
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
</TEXT>
<XX>
Coun
tries:-
</XX>
<CN>ILZ  Israel, Middle East.
</CN>
<XX>
Industries:-
</XX>
<I
N>P9721 International Affairs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General Ne
ws.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC
>

============= Transaction # 126 ==============================================
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<DOC>
<DOCNO>FT941-4211</DOCNO>
<PROFILE>_AN-ECMANAAJFT</PROFILE>
<DATE>9403
12
</DATE>
<HEADLINE> FT  12 MAR 94 / IRA believes attacks will lead to Ulst
er concessions </HEADLINE>
<BYLINE>    By MICHAEL CASSELL, JIMMY BURNS and M
ICHAEL SKAPINKER </BYLINE>
<TEXT>
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
</TEXT>

<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
    IEZ  Ireland, EC.
<
/CN>
<XX>
Industries:-
</XX>
<IN>P8651 Political Organizations.
    P9229 Pu
blic Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.

</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 127 ==============================================
Transaction #:    127       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT933-281</DOCNO>
<PROFILE>_AN-DI2CRAGZFT</PROFILE>
<DATE>93092
9
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By SALLY BOWEN </BYLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>PEZ  Peru, South America.

</CN>
<XX>
Industries:-
</XX>
<IN>P79   Amusement and Recreation Services.

    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & An
alysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XI </PAGE>

</DOC>

============= Transaction # 128 ==============================================
Transaction #:    128       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT933-281</DOCNO>
<PROFILE>_AN-DI2CRAGZFT</PROFILE>
<DATE>93092
9
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By SALLY BOWEN </BYLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>PEZ  Peru, South America.

</CN>
<XX>
Industries:-
</XX>
<IN>P79   Amusement and Recreation Services.

    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & An
alysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XI </PAGE>

</DOC>

============= Transaction # 129 ==============================================
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Selec. Rec. #:     28

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Associated Variable Length Text:

<DOC>
<DOCNO>FT933-281</DOCNO>
<PROFILE>_AN-DI2CRAGZFT</PROFILE>
<DATE>93092
9
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By SALLY BOWEN </BYLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>PEZ  Peru, South America.

</CN>
<XX>
Industries:-
</XX>
<IN>P79   Amusement and Recreation Services.

    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & An
alysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XI </PAGE>

</DOC>

============= Transaction # 130 ==============================================
Transaction #:    130       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT921-1436</DOCNO>
<PROFILE>_AN-CCXBBAFGFT</PROFILE>
<DATE>9203
24
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By MICHAEL HOL
MAN </BYLINE>
<TEXT>
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
 ------------------------
------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 4 </PAGE>
</DOC>

============= Transaction # 131 ==============================================
Transaction #:    131       Transaction Code:  19 (Record Selected)        

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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Selec. Rec. #:     29

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<DOC>
<DOCNO>FT921-1436</DOCNO>
<PROFILE>_AN-CCXBBAFGFT</PROFILE>
<DATE>9203
24
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By MICHAEL HOL
MAN </BYLINE>
<TEXT>
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
 ------------------------
------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 4 </PAGE>
</DOC>

============= Transaction # 132 ==============================================
Transaction #:    132       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT921-1436</DOCNO>
<PROFILE>_AN-CCXBBAFGFT</PROFILE>
<DATE>9203
24
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By MICHAEL HOL
MAN </BYLINE>
<TEXT>
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
 ------------------------
------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 4 </PAGE>
</DOC>

============= 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

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Selec. Rec. #:     30

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<DOC>
<DOCNO>FT924-4952</DOCNO>
<PROFILE>_AN-CK3BQAALFT</PROFILE>
<DATE>9211
30
</DATE>
<HEADLINE> FT  30 NOV 92 / Kohl pledges fight against extremists:
 Israel condemns neo-Nazism </HEADLINE>
<BYLINE>    By JUDY DEMPSEY and HUGH
 CARNEGY </BYLINE>
<DATELINE>    BONN, JERUSALEM </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

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<DOC>
<DOCNO>FT924-8057</DOCNO>
<PROFILE>_AN-CKMB5AA4FT</PROFILE>
<DATE>9211
13
</DATE>
<HEADLINE> FT  13 NOV 92 / German tourists attacked in Egypt </HE
ADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    CAIRO </DATELINE>
<TEX
T>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE>
 London Page 4 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-4657</DOCNO>
<PROFILE>_AN-CIFAEABFFT</PROFILE>
<DATE>9209
05
</DATE>
<HEADLINE> FT  05 SEP 92 / Township violence reports 'biased' </H
EADLINE>
<BYLINE>    By PATTI WALDMEIR </BYLINE>
<DATELINE>    JOHANNESBURG 
</DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 3 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-13102</DOCNO>
<PROFILE>_AN-CGOA1AENFT</PROFILE>
<DATE>920
715
</DATE>
<HEADLINE> FT  15 JUL 92 / Warning over tourist industry </HEADL
INE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries Correspondent </BY
LINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 10 </PAGE>
</D
OC>

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<DOC>
<DOCNO>FT942-16044</DOCNO>
<PROFILE>_AN-EDLEUAGBFT</PROFILE>
<DATE>940
412
</DATE>
<HEADLINE> FT  12 APR 94 / Survey of Slovenia (8): Lunch on the 
family farm - The tourist industry wants Slovenia reinstated as a holiday de
stination </HEADLINE>
<BYLINE>    By LAURA SILBER </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Co
untries:-
</XX>
<CN>SLZ  Sierra Leone, Africa.
</CN>
<XX>
Industries:-
</XX>

<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT 
 Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 33 </PAGE>
</DOC>

============= Transaction # 138 ==============================================
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<DOC>
<DOCNO>FT924-3610</DOCNO>
<PROFILE>_AN-CLGBYABTFT</PROFILE>
<DATE>9212
07
</DATE>
<HEADLINE> FT  07 DEC 92 / Survey of Israel (8): Sun worship - To
urists rediscover the Holy Land </HEADLINE>
<BYLINE>    By HUGH CARNEGY </BY
LINE>
<TEXT>
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.
</TEXT>
<PUB>
The Financial Times </PUB>
<PAGE> London Page 13 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-3827</DOCNO>
<PROFILE>_AN-DFKB5AHEFT</PROFILE>
<DATE>9306
11
</DATE>
<HEADLINE> FT  11 JUN 93 / Survey of South Africa (17): Dressed u
p with nowhere to go - The problems facing the tourist industry </HEADLINE>

<BYLINE>    By PHILIP GAWITH </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South 
Africa, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P7011 Hotels and Motels.
 
   P7999 Amusement and Recreation, NEC.
    P9611 Administration of General 
Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 140 ==============================================
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============= Transaction # 141 ==============================================
Transaction #:    141       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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Usr Interface:   Prob          Time Cmd Sent: Wed Dec 31 16:00:00 1969

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<DOC>
<DOCNO>FT944-14159</DOCNO>
<PROFILE>_AN-EJYD1ABAFT</PROFILE>
<DATE>941
025
</DATE>
<HEADLINE> FT  25 OCT 94 / Sri Lanka counts cost of bombing </HE
ADLINE>
<BYLINE>    By STEFAN WAGSTYL and REUTER </BYLINE>
<DATELINE>    NEW
 DELHI, COLOMBO </DATELINE>
<TEXT>
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
.
</TEXT>
<XX>
Countries:-
</XX>
<CN>LKZ  Sri Lanka, Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX
>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 6 </PAGE>
</DOC>

============= 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

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Selec. Rec. #:     38

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<DOC>
<DOCNO>FT942-2908</DOCNO>
<PROFILE>_AN-EFQDGAB2FT</PROFILE>
<DATE>9406
17
</DATE>
<HEADLINE> FT  17 JUN 94 / No peace yet in troubled Kashmir: Kidn
appings highlight unrest in spite of fragile gains </HEADLINE>
<BYLINE>    B
y STEFAN WAGSTYL </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>INZ  India
, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC
.
    P9721 International Affairs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Commen
t & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 7 </P
AGE>
</DOC>

============= 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:

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Boolean Conjunctions:

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Associated Variable Length Text:

<DOC>
<DOCNO>FT942-2908</DOCNO>
<PROFILE>_AN-EFQDGAB2FT</PROFILE>
<DATE>9406
17
</DATE>
<HEADLINE> FT  17 JUN 94 / No peace yet in troubled Kashmir: Kidn
appings highlight unrest in spite of fragile gains </HEADLINE>
<BYLINE>    B
y STEFAN WAGSTYL </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>INZ  India
, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC
.
    P9721 International Affairs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Commen
t & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 7 </P
AGE>
</DOC>

============= 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:

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Boolean Conjunctions:

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Associated Variable Length Text:

<DOC>
<DOCNO>FT942-2908</DOCNO>
<PROFILE>_AN-EFQDGAB2FT</PROFILE>
<DATE>9406
17
</DATE>
<HEADLINE> FT  17 JUN 94 / No peace yet in troubled Kashmir: Kidn
appings highlight unrest in spite of fragile gains </HEADLINE>
<BYLINE>    B
y STEFAN WAGSTYL </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>INZ  India
, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC
.
    P9721 International Affairs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Commen
t & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 7 </P
AGE>
</DOC>

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<DOC>
<DOCNO>FT931-332</DOCNO>
<PROFILE>_AN-DC3CGAG0FT</PROFILE>
<DATE>93033
0
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By LAURA SILBER </B
YLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
<
/XX>
<CN>SIZ  Slovenia, East Europe.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999
 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment &
 Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 38 </PAG
E>
</DOC>

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============= Transaction # 154 ==============================================
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<DOC>
<DOCNO>FT931-6689</DOCNO>
<PROFILE>_AN-DB1AEAEWFT</PROFILE>
<DATE>9302
27
</DATE>
<HEADLINE> FT  27 FEB 93 / Travel: Driven to distraction - Snapsh
ot / Rio de Janeiro </HEADLINE>
<BYLINE>    By KEITH WHEATLEY </BYLINE>
<TEX
T>
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.
</TEXT>
<XX
>
Countries:-
</XX>
<CN>BRZ  Brazil, South America.
</CN>
<XX>
Industries:-

</XX>
<IN>P4111 Local and Suburban Transit.
    P5812 Eating Places.
    P70
11 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.

</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XIV </PAGE>
</DOC>


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<DOC>
<DOCNO>FT922-129</DOCNO>
<PROFILE>_AN-CF3ATACUFT</PROFILE>
<DATE>92063
0
</DATE>
<HEADLINE> FT  30 JUN 92 / International Company News: State order
s inquiry into Thai Airways </HEADLINE>
<BYLINE>    By VICTOR MALLET </BYLIN
E>
<DATELINE>    BANGKOK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PU
B>
<PAGE> London Page 25 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-14950</DOCNO>
<PROFILE>_AN-DDPB8AA8FT</PROFILE>
<DATE>930
416
</DATE>
<HEADLINE> FT  16 APR 93 / S Africa counts the cost of mass acti
on </HEADLINE>
<BYLINE>    By PATTI WALDMEIR </BYLINE>
<DATELINE>    JOHANNE
SBURG </DATELINE>
<TEXT>
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South Afric
a, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affairs.
</
IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-7664</DOCNO>
<PROFILE>_AN-DHTCQABVFT</PROFILE>
<DATE>9308
20
</DATE>
<HEADLINE> FT  20 AUG 93 / Tourism spending up 7% to Pounds 25bn 
</HEADLINE>
<BYLINE>    By GARY MEAD, Marketing Correspondent </BYLINE>
<TEX
T>
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.
</TEXT>
<XX>
Countries
:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P472
4 Travel Agencies.
    P4725 Tour Operators.
    P7999 Amusement and Recreat
ion, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Fi
nancial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT922-7109</DOCNO>
<PROFILE>_AN-CETCHAD3FT</PROFILE>
<DATE>9205
20
</DATE>
<HEADLINE> FT  20 MAY 92 / Thai army crackdown fails to stop unre
st spreading </HEADLINE>
<BYLINE>    By VICTOR MALLET and PETER UNGPHAKORN <
/BYLINE>
<DATELINE>    BANGKOK </DATELINE>
<TEXT>
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
</TEXT>
<PUB>The Financial Times </PUB>
<PA
GE> London Page 1 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-2521</DOCNO>
<PROFILE>_AN-DISAKAATFT</PROFILE>
<DATE>9309
18
</DATE>
<HEADLINE> FT  18 SEP 93 / Sun still shines for big bucks tourism
: Damian Fraser finds Florida little shaken by murders among holiday-makers 
</HEADLINE>
<BYLINE>    By DAMIAN FRASER </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  United States of America.
</CN>
<
XX>
Industries:-
</XX>
<IN>P9611 Administration of General Economic Programs
.
    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT
  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 3 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT921-7159</DOCNO>
<PROFILE>_AN-CBXBCADHFT</PROFILE>
<DATE>9202
24
</DATE>
<HEADLINE> FT  24 FEB 92 / Cyprus may face beds shortage as it wo
os the tourists </HEADLINE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Indust
ries Correspondent </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>
The Financial Times </PUB>
<PAGE> London Page 16 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-5711</DOCNO>
<PROFILE>_AN-CIBBCAE6FT</PROFILE>
<DATE>9208
28
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    
By VICTOR MALLET </BYLINE>
<TEXT>
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.
</T
EXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page VI </PAGE>
</DOC>

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<DOC>
<DOCNO>FT922-5273</DOCNO>
<PROFILE>_AN-CFAA4AC1FT</PROFILE>
<DATE>9206
01
</DATE>
<HEADLINE> FT  01 JUN 92 / UN Sanctions Against Serbia: Belgrade 
protesters express their shame </HEADLINE>
<BYLINE>    By LAURA SILBER </BYL
INE>
<DATELINE>    BELGRADE </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times <
/PUB>
<PAGE> London Page 3 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-171</DOCNO>
<PROFILE>_AN-DGABBACPFT</PROFILE>
<DATE>93063
0
</DATE>
<HEADLINE> FT  30 JUN 93 / Scots tourism aid put on new footing </
HEADLINE>
<BYLINE>    By JAMES BUXTON, Scottish Correspondent </BYLINE>
<TEX
T>
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.
</TEXT>
<XX>
Countries:-
</XX>
<C
N>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P9611 Administr
ation of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  Gener
al News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 13 </PAGE>

</DOC>

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<DOC>
<DOCNO>FT922-5614</DOCNO>
<PROFILE>_AN-CE2ATAEZFT</PROFILE>
<DATE>9205
29
</DATE>
<HEADLINE> FT  29 MAY 92 / Tourist row flares in Ulster </HEADLIN
E>
<BYLINE>    By RALPH ATKINS </BYLINE>
<DATELINE>    BELFAST </DATELINE>
<
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 8 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT911-1219</DOCNO>
<PROFILE>_AN-BEHBSAAQFT</PROFILE>
<DATE>9105
08
</DATE>
<HEADLINE> FT  08 MAY 91 / Washington seeks to prevent more rioti
ng </HEADLINE>
<BYLINE>    By PETER RIDDELL, US Editor </BYLINE>
<DATELINE> 
   WASHINGTON </DATELINE>
<TEXT>
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
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</D
OC>

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<DOC>
<DOCNO>FT943-6049</DOCNO>
<PROFILE>_AN-EIAD1AAWFT</PROFILE>
<DATE>9409
01
</DATE>
<HEADLINE> FT  01 SEP 94 / Fears of violence stalk Cairo conferen
ce: Population delegates are putting themselves in danger's way, militants w
arn </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO 
</DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egyp
t, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affairs.
</
IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT931-11990</DOCNO>
<PROFILE>_AN-DA4ASAD1FT</PROFILE>
<DATE>930
130
</DATE>
<HEADLINE> FT  30 JAN 93 / Letter: Promoting UK more difficult <
/HEADLINE>
<BYLINE>    From Mr WILLIAM DAVIS </BYLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom
, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P9651  Regulation of Miscellaneous C
ommercial Sectors.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment and Analysis.

</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 7 </PAGE>
</DOC>

============= Transaction # 170 ==============================================
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<DOC>
<DOCNO>FT944-18179</DOCNO>
<PROFILE>_AN-EJED5ABJFT</PROFILE>
<DATE>941
005
</DATE>
<HEADLINE> FT  05 OCT 94 / Police chief flees Haiti </HEADLINE>

<BYLINE>    By TED BARDACKE </BYLINE>
<DATELINE>    PORT-AU-PRINCE </DATELIN
E>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>

<CN>HTZ  Haiti, Caribbean.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 Internat
ional Affairs.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
    PEOP  Pe
ople.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</D
OC>

============= Transaction # 171 ==============================================
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<DOC>
<DOCNO>FT943-5749</DOCNO>
<PROFILE>_AN-EICAFACOFT</PROFILE>
<DATE>9409
02
</DATE>
<HEADLINE> FT  02 SEP 94 / Northern Ireland: Business hopes for u
p to 30,000 jobs - Economy </HEADLINE>
<BYLINE>    By TIM COONE </BYLINE>
<D
ATELINE>    DUBLIN </DATELINE>
<TEXT>
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, E
C.
</CN>
<XX>
Industries:-
</XX>
<IN>P9311 Finance, Taxation, and Monetary P
olicy.
    P9611 Administration of General Economic Programs.
</IN>
<XX>
Typ
es:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PU
B>
<PAGE> London Page 9 </PAGE>
</DOC>

============= Transaction # 172 ==============================================
Transaction #:    172       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT931-431</DOCNO>
<PROFILE>_AN-DC3CGAD6FT</PROFILE>
<DATE>93033
0
</DATE>
<HEADLINE> FT  30 MAR 93 / Mubarak accuses Iran over bombings </HE
ADLINE>
<BYLINE>    By ROGER MATTHEWS and MARK NICHOLSON </BYLINE>
<DATELINE
>    CAIRO </DATELINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt
, Africa.
    IRZ  Iran, Middle East.
</CN>
<XX>
Industries:-
</XX>
<IN>P922
9 Public Order and Safety, NEC.
    P9721 International Affairs.
</IN>
<XX>

Types:-
</XX>
<TP>GOVT  Government News.
</TP>
<PUB>The Financial Times </PU
B>
<PAGE> London Page 24 </PAGE>
</DOC>

============= Transaction # 173 ==============================================
Transaction #:    173       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT932-11353</DOCNO>
<PROFILE>_AN-DEECIABCFT</PROFILE>
<DATE>930
505
</DATE>
<HEADLINE> FT  05 MAY 93 / Premadasa leaves legacy of growth: Sl
ain Sri Lankan president's gains set to live on </HEADLINE>
<BYLINE>    By S
TEFAN WAGSTYL </BYLINE>
<TEXT>
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>LKZ  Sri Lanka, Asia.

</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affairs.
    P9311 Fin
ance, Taxation, and Monetary Policy.
</IN>
<XX>
Types:-
</XX>
<TP>ECON  Econ
omic Indicators.
    CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 174 ==============================================
Transaction #:    174       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-7572</DOCNO>
<PROFILE>_AN-CHSA3ACSFT</PROFILE>
<DATE>9208
17
</DATE>
<HEADLINE> FT  17 AUG 92 / Call to curb crime in Kenya </HEADLINE
>
<BYLINE>    By MICHAEL SKAPINKER </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 </PAGE>
</D
OC>

============= Transaction # 175 ==============================================
Transaction #:    175       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT934-6154</DOCNO>
<PROFILE>_AN-DKZCOABIFT</PROFILE>
<DATE>9311
26
</DATE>
<HEADLINE> FT  26 NOV 93 / Egyptian PM escapes Jihad bomb blast <
/HEADLINE>
<BYLINE>    By MARK NICHOLSON and SHAHIRA IDRISS </BYLINE>
<DATEL
INE>    CAIRO </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>
EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and
 Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>PEOP  People.
    NEWS  General N
ews.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DO
C>

============= Transaction # 176 ==============================================
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<DOC>
<DOCNO>FT921-13642</DOCNO>
<PROFILE>_AN-CAUBNAAJFT</PROFILE>
<DATE>920
121
</DATE>
<HEADLINE> FT  21 JAN 92 / Survey of Egypt (11): Attractions of 
peace - Tourists are returning </HEADLINE>
<BYLINE>    By CAROLINE SOUTHEY <
/BYLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page V </PAGE>
</DOC>

============= Transaction # 177 ==============================================
Transaction #:    177       Transaction Code:  15 (Terms Cleared)          

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============= Transaction # 178 ==============================================
Transaction #:    178       Transaction Code:   6 (Direct Rank Search)     

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zfind "(topic @ {tropical storms})"

============= Transaction # 179 ==============================================
Transaction #:    179       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 180 ==============================================
Transaction #:    180       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT943-2749</DOCNO>
<PROFILE>_AN-EIRAQACEFT</PROFILE>
<DATE>9409
17
</DATE>
<HEADLINE> FT  17 SEP 94 / UK Company News: Tropical storm disrup
ts Geest's banana supplies </HEADLINE>
<BYLINE>    By DAVID BLACKWELL </BYLI
NE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Geest.
</CO>
<XX>
Countries
:-
</XX>
<CN>CRZ  Costa Rica, Central America.
</CN>
<XX>
Industries:-
</XX>

<IN>P0179 Fruits and Tree Nuts, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>MKTS  Pro
duction.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 11 </PAGE>

</DOC>

============= Transaction # 181 ==============================================
Transaction #:    181       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT943-2749</DOCNO>
<PROFILE>_AN-EIRAQACEFT</PROFILE>
<DATE>9409
17
</DATE>
<HEADLINE> FT  17 SEP 94 / UK Company News: Tropical storm disrup
ts Geest's banana supplies </HEADLINE>
<BYLINE>    By DAVID BLACKWELL </BYLI
NE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Geest.
</CO>
<XX>
Countries
:-
</XX>
<CN>CRZ  Costa Rica, Central America.
</CN>
<XX>
Industries:-
</XX>

<IN>P0179 Fruits and Tree Nuts, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>MKTS  Pro
duction.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 11 </PAGE>

</DOC>

============= Transaction # 182 ==============================================
Transaction #:    182       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT943-2749</DOCNO>
<PROFILE>_AN-EIRAQACEFT</PROFILE>
<DATE>9409
17
</DATE>
<HEADLINE> FT  17 SEP 94 / UK Company News: Tropical storm disrup
ts Geest's banana supplies </HEADLINE>
<BYLINE>    By DAVID BLACKWELL </BYLI
NE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Geest.
</CO>
<XX>
Countries
:-
</XX>
<CN>CRZ  Costa Rica, Central America.
</CN>
<XX>
Industries:-
</XX>

<IN>P0179 Fruits and Tree Nuts, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>MKTS  Pro
duction.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 11 </PAGE>

</DOC>

============= Transaction # 183 ==============================================
Transaction #:    183       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOCNO>FT923-1747</DOCNO>
<PROFILE>_AN-CIWCOAE3FT</PROFILE>
<DATE>9209
22
</DATE>
<HEADLINE> FT  22 SEP 92 / World News in Brief: Storm hits Philip
pines </HEADLINE>
<TEXT>
Tropical Storm Ted ripped across the Philippines, k
illing five people,
demolishing houses and causing floods, landslides and vo
lcanic mudflows.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Internationa
l Page 1 </PAGE>
</DOC>

============= Transaction # 184 ==============================================
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<DATE>9209
22
</DATE>
<HEADLINE> FT  22 SEP 92 / World News in Brief: Storm hits Philip
pines </HEADLINE>
<TEXT>
Tropical Storm Ted ripped across the Philippines, k
illing five people,
demolishing houses and causing floods, landslides and vo
lcanic mudflows.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Internationa
l Page 1 </PAGE>
</DOC>

============= Transaction # 185 ==============================================
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22
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pines </HEADLINE>
<TEXT>
Tropical Storm Ted ripped across the Philippines, k
illing five people,
demolishing houses and causing floods, landslides and vo
lcanic mudflows.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Internationa
l Page 1 </PAGE>
</DOC>

============= Transaction # 186 ==============================================
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<DOC>
<DOCNO>FT933-8357</DOCNO>
<PROFILE>_AN-DHQCUAF9FT</PROFILE>
<DATE>9308
16
</DATE>
<HEADLINE> FT  16 AUG 93 / World News in Brief: Storm hits Martin
ique </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countrie
s:-
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<PUB>The Financial Times </PUB>
<PAGE> International Page
 1 </PAGE>
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============= Transaction # 187 ==============================================
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ique </HEADLINE>
<TEXT>
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
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============= Transaction # 188 ==============================================
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ique </HEADLINE>
<TEXT>
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.
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Countrie
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<PUB>The Financial Times </PUB>
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============= Transaction # 189 ==============================================
Transaction #:    189       Transaction Code:  39 (Full Doc Window --TREC) 

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18
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ippines </HEADLINE>
<TEXT>
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
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<XX>
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<PUB>The Financial Times </PUB>
<PAGE> 
International Page 1 </PAGE>
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============= Transaction # 190 ==============================================
Transaction #:    190       Transaction Code:  19 (Record Selected)        

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<TEXT>
Manila was waist-deep in floodwater after tropica
l storm Tasha swept in from
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Mount Pinatubo, commuters
were stranded and some domestic flights cancelled.

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<TP>RES  Natural resources.
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<PUB>The Financial Times </PUB>
<PAGE> 
International Page 1 </PAGE>
</DOC>

============= Transaction # 191 ==============================================
Transaction #:    191       Transaction Code:  22 (Record(s) Saved)        

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<TEXT>
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.

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<PUB>The Financial Times </PUB>
<PAGE> 
International Page 1 </PAGE>
</DOC>

============= Transaction # 192 ==============================================
Transaction #:    192       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT944-14912</DOCNO>
<PROFILE>_AN-EJTEUAGKFT</PROFILE>
<DATE>941
020
</DATE>
<HEADLINE> FT  20 OCT 94 / Commodities and Agriculture: EU propo
ses higher banana import quota </HEADLINE>
<BYLINE>    By DEBORAH HARGREAVES
 </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>QRZ  European Economic Com
munity (EC).
    XCZ  Latin America.
    XTZ  Windward Islands, Caribbean.
<
/CN>
<XX>
Industries:-
</XX>
<IN>P9611 Administration of General Economic Pr
ograms.
    P5148 Fresh Fruits and Vegetables.
</IN>
<XX>
Types:-
</XX>
<TP>
MKTS  Market shares.
    MKTS  Production.
</TP>
<PUB>The Financial Times </
PUB>
<PAGE> London Page 39 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT943-1514</DOCNO>
<PROFILE>_AN-EIWEEAFMFT</PROFILE>
<DATE>9409
23
</DATE>
<HEADLINE> FT  23 SEP 94 / UK Company News: Geest warns of second
 half loss - Shares fall as damage to banana production takes toll </HEADLIN
E>
<BYLINE>    By DAVID BLACKWELL </BYLINE>
<TEXT>
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
</TEXT>
<XX>
Companies:-
</XX>
<C
O>Geest.
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX
>
Industries:-
</XX>
<IN>P5148 Fresh Fruits and Vegetables.
</IN>
<XX>
Types
:-
</XX>
<TP>FIN  Interim results.
    CMMT  Comment & Analysis.
    MKTS  P
roduction.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 28 </PAG
E>
</DOC>

============= Transaction # 194 ==============================================
Transaction #:    194       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT944-16873</DOCNO>
<PROFILE>_AN-EJKDGAFQFT</PROFILE>
<DATE>941
011
</DATE>
<HEADLINE> FT  11 OCT 94 / Commodities and Agriculture: St Lucia
 looks for alternatives after banana disaster </HEADLINE>
<BYLINE>    By DEB
ORAH HARGREAVES </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>LCZ  St Lucia, C
aribbean.
    BZZ  Belize, Central America.
</CN>
<XX>
Industries:-
</XX>
<I
N>P0179 Fruits and Tree Nuts, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>MKTS  Produc
tion.
    MKTS  Foreign trade.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 31 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT943-2257</DOCNO>
<PROFILE>_AN-EITEUAEMFT</PROFILE>
<DATE>9409
20
</DATE>
<HEADLINE> FT  20 SEP 94 / Commodities and Agriculture: St Lucia 
hit hardest as tropical storm devastates Windwards' banana crops </HEADLINE>

<BYLINE>    By CANUTE JAMES </BYLINE>
<DATELINE>    KINGSTON, JAMAICA </DAT
ELINE>
<TEXT>
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>XTZ  W
indward Islands, Caribbean.
</CN>
<XX>
Industries:-
</XX>
<IN>P0179 Fruits a
nd Tree Nuts, NEC.
</IN>
<XX>
Types:-
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<TP>MKTS  Market shares.
    MKT
S  Production.
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<PUB>The Financial Times </PUB>
<PAGE> London Page 32 <
/PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-9488</DOCNO>
<PROFILE>_AN-DHJCNABKFT</PROFILE>
<DATE>9308
10
</DATE>
<HEADLINE> FT  10 AUG 93 / High death toll in Caracas storm </HEA
DLINE>
<BYLINE>    By JOSEPH MANN </BYLINE>
<DATELINE>    CARACAS </DATELINE
>
<TEXT>
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.
</T
EXT>
<XX>
Countries:-
</XX>
<CN>VEZ  Venezuela, South America.
</CN>
<XX>
In
dustries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-

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<TP>RES  Natural resources.
</TP>
<PUB>The Financial Times </PUB>
<PAG
E> London Page 4 </PAGE>
</DOC>

============= Transaction # 197 ==============================================
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18
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<TE
XT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>PHZ 
 Philippines, Asia.
</CN>
<XX>
Industries:-
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<IN>P9229 Public Order and
 Safety, NEC.
</IN>
<XX>
Types:-
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<TP>RES  Natural resources.
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<PU
B>The Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 198 ==============================================
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<DOC>
<DOCNO>FT943-10294</DOCNO>
<PROFILE>_AN-EHEC9AEOFT</PROFILE>
<DATE>940
805
</DATE>
<HEADLINE> FT  05 AUG 94 / Commodities and Agriculture: Price wa
r hits Far East plywood markets </HEADLINE>
<BYLINE>    By KIERAN COOKE </BY
LINE>
<TEXT>
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.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>MYZ  Malaysia, Asia.
</CN>
<XX>

Industries:-
</XX>
<IN>P2435 Hardwood Veneer and Plywood.
    P2436 Softwood
 Veneer and Plywood.
</IN>
<XX>
Types:-
</XX>
<TP>COSTS  Product costs & Pro
duct prices.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 22 </P
AGE>
</DOC>

============= Transaction # 199 ==============================================
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<DOCNO>FT932-9724</DOCNO>
<PROFILE>_AN-DELCNAGDFT</PROFILE>
<DATE>9305
12
</DATE>
<HEADLINE> FT  12 MAY 93 / Commodities and Agriculture: Tropical 
timber 'bashers' attacked </HEADLINE>
<BYLINE>    By GEOFFREY PLEYDELL </BYL
INE>
<DATELINE>    KUALA LUMPUR </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countr
ies:-
</XX>
<CN>MYZ  Malaysia, Asia.
    XAZ  World.
</CN>
<XX>
Industries:-

</XX>
<IN>P0811 Timber Tracts.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Natural re
sources.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 30 </PAGE>

</DOC>

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============= Transaction # 201 ==============================================
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105
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<HEADLINE> FT  05 NOV 93 / World News in Brief: Airliner skids i
nto harbour </HEADLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>HKZ  Hong Kong, Asia.
</CN>

<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
T
ypes:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<
PAGE> International Page 1 </PAGE>
</DOC>

============= Transaction # 202 ==============================================
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<PROFILE>_AN-EGKDTACRFT</PROFILE>
<DATE>940
711
</DATE>
<HEADLINE> FT  11 JUL 94 / Business Travel (Update): Taiwan typh
oon </HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
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>
<XX>
Countries:-
</XX>
<CN>TWZ  Taiwan, Asia.
    PHZ  Philippines, A
sia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
<
/IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 203 ==============================================
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<HEADLINE> FT  11 JUL 94 / Business Travel (Update): Taiwan typh
oon </HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
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>
<XX>
Countries:-
</XX>
<CN>TWZ  Taiwan, Asia.
    PHZ  Philippines, A
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</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
<
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<XX>
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<TP>RES  Natural resources.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 204 ==============================================
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oon </HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
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
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Vanessa, had developed in the South China Sea and was b
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<
/TEXT>
<XX>
Countries:-
</XX>
<CN>TWZ  Taiwan, Asia.
    PHZ  Philippines, A
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</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
<
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<XX>
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<PUB>The Financial
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</DOC>

============= Transaction # 205 ==============================================
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<DOC>
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<PROFILE>_AN-EGJAPAA1FT</PROFILE>
<DATE>940
709
</DATE>
<HEADLINE> FT  09 JUL 94 / Georgia awash after Alberto brings fl
oods </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  United States of Americ
a.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</I
N>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times
 </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 206 ==============================================
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oods </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  United States of Americ
a.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</I
N>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times
 </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT943-15451</DOCNO>
<PROFILE>_AN-EGJAPAA1FT</PROFILE>
<DATE>940
709
</DATE>
<HEADLINE> FT  09 JUL 94 / Georgia awash after Alberto brings fl
oods </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  United States of Americ
a.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</I
N>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times
 </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT932-15840</DOCNO>
<PROFILE>_AN-DDHB2AFXFT</PROFILE>
<DATE>930
408
</DATE>
<HEADLINE> FT  08 APR 93 / Commodities and Agriculture: Timber a
ccord faces green pressures </HEADLINE>
<BYLINE>    By FRANCES WILLIAMS </BY
LINE>
<DATELINE>    GENEVA </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</CN>
<XX>
Indu
stries:-
</XX>
<IN>P0811 Timber Tracts.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  G
eneral News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 30 </P
AGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT944-5569</DOCNO>
<PROFILE>_AN-ELBDWAF4FT</PROFILE>
<DATE>9412
02
</DATE>
<HEADLINE> FT  02 DEC 94 / Commodities and Agriculture: EU to iss
ue licences covering Windwards' banana losses </HEADLINE>
<BYLINE>    By DEB
ORAH HARGREAVES </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>QRZ  European Econo
mic Community (EC).
</CN>
<XX>
Industries:-
</XX>
<IN>P5148 Fresh Fruits and
 Vegetables.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  Patents & Licences.
</TP>
<P
UB>The Financial Times </PUB>
<PAGE> London Page 27 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT932-930</DOCNO>
<PROFILE>_AN-DFYB8AGBFT</PROFILE>
<DATE>93062
5
</DATE>
<HEADLINE> FT  25 JUN 93 / Commodities and Agriculture: Divisions 
remain over tropical timber pact </HEADLINE>
<BYLINE>    By FRANCES WILLIAMS
 </BYLINE>
<DATELINE>    GENEVA </DATELINE>
<TEXT>
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.

</TEXT>
<XX>
Countries:-
</XX>
<CN>XCZ  Latin America.
    XOZ  Asia.
</CN>

<XX>
Industries:-
</XX>
<IN>P0831 Forest Products.
    P2411 Logging.
    P
9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<
TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 28 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT931-3466</DOCNO>
<PROFILE>_AN-DCPCCAD1FT</PROFILE>
<DATE>9303
16
</DATE>
<HEADLINE> FT  16 MAR 93 / Letter: Not so much tropical rainfores
t </HEADLINE>
<BYLINE>    From Prof GHILLEAN T PRANCE </BYLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Ki
ngdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P99   Nonclassifiable Establish
ments.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The
 Financial Times </PUB>
<PAGE> London Page 20 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT932-1763</DOCNO>
<PROFILE>_AN-DFVCUAF3FT</PROFILE>
<DATE>9306
22
</DATE>
<HEADLINE> FT  22 JUN 93 / Commodities and Agriculture: Delegates
 optimistic on timber pact </HEADLINE>
<BYLINE>    By FRANCES WILLIAMS </BYL
INE>
<DATELINE>    GENEVA </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>CHZ  Switzerland, West Eu
rope.
</CN>
<XX>
Industries:-
</XX>
<IN>P0811 Timber Tracts.
    P2411 Loggi
ng.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>The Fina
ncial Times </PUB>
<PAGE> London Page 34 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT924-10917</DOCNO>
<PROFILE>_AN-CJ1BTAE7FT</PROFILE>
<DATE>921
028
</DATE>
<HEADLINE> FT  28 OCT 92 / Commodities and Agriculture: Demand f
or timber remains in doldrums </HEADLINE>
<BYLINE>    By FRANCES WILLIAMS </
BYLINE>
<DATELINE>    GENEVA </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The F
inancial Times </PUB>
<PAGE> London Page 32 </PAGE>
</DOC>

============= Transaction # 215 ==============================================
Transaction #:    215       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT934-16631</DOCNO>
<PROFILE>_AN-DJEC1AF7FT</PROFILE>
<DATE>931
005
</DATE>
<HEADLINE> FT  05 OCT 93 / Commodities and Agriculture: Tropical
 timber pact talks resume </HEADLINE>
<BYLINE>    By FRANCES WILLIAMS </BYLI
NE>
<DATELINE>    GENEVA </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>
XAZ   World.
</CN>
<XX>
Industries:-
</XX>
<IN>P0811 Timber Tracts.
    P241
1 Logging.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The F
inancial Times </PUB>
<PAGE> London Page 30 </PAGE>
</DOC>

============= Transaction # 216 ==============================================
Transaction #:    216       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT924-9315</DOCNO>
<PROFILE>_AN-CKFB8ABYFT</PROFILE>
<DATE>9211
06
</DATE>
<HEADLINE> FT  06 NOV 92 / Asean condemns timber labelling </HEAD
LINE>
<BYLINE>    By FRANCES WILLIAMS </BYLINE>
<DATELINE>    GENEVA </DATEL
INE>
<TEXT>
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
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC
>

============= Transaction # 217 ==============================================
Transaction #:    217       Transaction Code:   6 (Direct Rank Search)     

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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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)        
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============= 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)        
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<DOC>
<DOCNO>FT923-5267</DOCNO>
<PROFILE>_AN-CIDBKACDFT</PROFILE>
<DATE>9209
02
</DATE>
<HEADLINE> FT  02 SEP 92 / Hurricane insurers expect record claim
s </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>
<DATELINE>    NEW YORK </D
ATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>

<PAGE> London Page 14 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT933-6136</DOCNO>
<PROFILE>_AN-DH4CVABAFT</PROFILE>
<DATE>9308
31
</DATE>
<HEADLINE> FT  31 AUG 93 / Hurricane alarm </HEADLINE>
<BYLINE>  
  By AGENCIES </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  United States of America.
</
CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<X
X>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 221 ==============================================
Transaction #:    221       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT923-5267</DOCNO>
<PROFILE>_AN-CIDBKACDFT</PROFILE>
<DATE>9209
02
</DATE>
<HEADLINE> FT  02 SEP 92 / Hurricane insurers expect record claim
s </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>
<DATELINE>    NEW YORK </D
ATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>

<PAGE> London Page 14 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT923-5267</DOCNO>
<PROFILE>_AN-CIDBKACDFT</PROFILE>
<DATE>9209
02
</DATE>
<HEADLINE> FT  02 SEP 92 / Hurricane insurers expect record claim
s </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>
<DATELINE>    NEW YORK </D
ATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>

<PAGE> London Page 14 </PAGE>
</DOC>

============= 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)        

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<DOC>
<DOCNO>FT923-5267</DOCNO>
<PROFILE>_AN-CIDBKACDFT</PROFILE>
<DATE>9209
02
</DATE>
<HEADLINE> FT  02 SEP 92 / Hurricane insurers expect record claim
s </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>
<DATELINE>    NEW YORK </D
ATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>

<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 224 ==============================================
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31
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<BYLINE>  
  By AGENCIES </BYLINE>
<TEXT>
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.
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<PUB>The Financial Times 
</PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 225 ==============================================
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<BYLINE>  
  By AGENCIES </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
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<PUB>The Financial Times 
</PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 226 ==============================================
Transaction #:    226       Transaction Code:  22 (Record(s) Saved)        

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<BYLINE>  
  By AGENCIES </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  United States of America.
</
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<PUB>The Financial Times 
</PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 227 ==============================================
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<DOC>
<DOCNO>FT923-3529</DOCNO>
<PROFILE>_AN-CIKCNADLFT</PROFILE>
<DATE>9209
11
</DATE>
<HEADLINE> FT  11 SEP 92 / Early hurricane claims to Lloyd's put 
at Pounds 500m </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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.

</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC>


============= Transaction # 228 ==============================================
Transaction #:    228       Transaction Code:  19 (Record Selected)        

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<DOCNO>FT923-3529</DOCNO>
<PROFILE>_AN-CIKCNADLFT</PROFILE>
<DATE>9209
11
</DATE>
<HEADLINE> FT  11 SEP 92 / Early hurricane claims to Lloyd's put 
at Pounds 500m </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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.

</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC>


============= Transaction # 229 ==============================================
Transaction #:    229       Transaction Code:  22 (Record(s) Saved)        

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<PROFILE>_AN-CIKCNADLFT</PROFILE>
<DATE>9209
11
</DATE>
<HEADLINE> FT  11 SEP 92 / Early hurricane claims to Lloyd's put 
at Pounds 500m </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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.

</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC>


============= Transaction # 230 ==============================================
Transaction #:    230       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT923-6560</DOCNO>
<PROFILE>_AN-CHZBBAAWFT</PROFILE>
<DATE>9208
24
</DATE>
<HEADLINE> FT  24 AUG 92 / Florida braced for Hurricane Andrew </
HEADLINE>
<BYLINE>    By AGENCIES </BYLINE>
<TEXT>
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
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC
>

============= Transaction # 231 ==============================================
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<DOC>
<DOCNO>FT924-12079</DOCNO>
<PROFILE>_AN-CJVB5AEXFT</PROFILE>
<DATE>921
022
</DATE>
<HEADLINE> FT  22 OCT 92 / UK Company News: US insurers see Doll
ars 10.2bn hurricane payout </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>

<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 24 </PAG
E>
</DOC>

============= Transaction # 232 ==============================================
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<DOC>
<DOCNO>FT923-6455</DOCNO>
<PROFILE>_AN-CHZBXAACFT</PROFILE>
<DATE>9208
25
</DATE>
<HEADLINE> FT  25 AUG 92 / US insurers face heaviest hurricane da
mage claims </HEADLINE>
<BYLINE>    By MARTIN DICKSON and NORMA COHEN </BYLI
NE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
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
</TEXT>
<PUB>The Fina
ncial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 233 ==============================================
Transaction #:    233       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-5835</DOCNO>
<PROFILE>_AN-CIBBCABPFT</PROFILE>
<DATE>9208
28
</DATE>
<HEADLINE> FT  28 AUG 92 / UK Company News: GA says hurricane cla
ims could reach 'up to Dollars 40m' </HEADLINE>
<BYLINE>    By ROBERT PESTON
 </BYLINE>
<TEXT>
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'.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 16 </P
AGE>
</DOC>

============= Transaction # 234 ==============================================
Transaction #:    234       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-6582</DOCNO>
<PROFILE>_AN-CHZBBAAAFT</PROFILE>
<DATE>9208
24
</DATE>
<HEADLINE> FT  24 AUG 92 / World News in Brief: Hurricane Andrew 
</HEADLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PA
GE> London Page 1 </PAGE>
</DOC>

============= Transaction # 235 ==============================================
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<DOC>
<DOCNO>FT924-9889</DOCNO>
<PROFILE>_AN-CKCCTAF5FT</PROFILE>
<DATE>9211
03
</DATE>
<HEADLINE> FT  03 NOV 92 / International Company News: Cigna stay
s in the black despite hurricane losses </HEADLINE>
<BYLINE>    By NIKKI TAI
T </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 27 </PAGE>
</DOC>

============= Transaction # 236 ==============================================
Transaction #:    236       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT933-3525</DOCNO>
<PROFILE>_AN-DINC7AA0FT</PROFILE>
<DATE>9309
14
</DATE>
<HEADLINE> FT  14 SEP 93 / Hurricane Lydia heads for Mexico </HEA
DLINE>
<BYLINE>    By AP </BYLINE>
<DATELINE>    MEXICO CITY </DATELINE>
<TE
XT>
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.
</TEXT>
<XX>
Countries:-

</XX>
<CN>MXZ  Mexico.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order 
and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Pollution.
</TP>
<PUB>The
 Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 237 ==============================================
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<DOC>
<DOCNO>FT923-6110</DOCNO>
<PROFILE>_AN-CH0BVADPFT</PROFILE>
<DATE>9208
26
</DATE>
<HEADLINE> FT  26 AUG 92 / Hurricane damage put at Dollars 20bn a
s 2m people told to leave homes </HEADLINE>
<BYLINE>    By MARTIN DICKSON an
d NORMA COHEN </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 238 ==============================================
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<DOC>
<DOCNO>FT923-6592</DOCNO>
<PROFILE>_AN-CHZBXAFGFT</PROFILE>
<DATE>9208
24
</DATE>
<HEADLINE> FT  24 AUG 92 / World News In Brief: Hurricane hits Ba
hamas </HEADLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Intern
ational Page 1 </PAGE>
</DOC>

============= Transaction # 239 ==============================================
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============= Transaction # 240 ==============================================
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<DOC>
<DOCNO>FT923-1035</DOCNO>
<PROFILE>_AN-CIYB1AGYFT</PROFILE>
<DATE>9209
25
</DATE>
<HEADLINE> FT  25 SEP 92 / International Company News: US insurer
 shares fall on cut in pay-out </HEADLINE>
<BYLINE>    By MARTIN DICKSON </B
YLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London 
Page 25 </PAGE>
</DOC>

============= Transaction # 241 ==============================================
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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 242 ==============================================
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<DOC>
<DOCNO>FT923-4094</DOCNO>
<PROFILE>_AN-CIIBPAA3FT</PROFILE>
<DATE>9209
09
</DATE>
<HEADLINE> FT  09 SEP 92 / Bush seeks Dollars 7.6bn after hurrica
ne </HEADLINE>
<BYLINE>    By GEORGE GRAHAM </BYLINE>
<DATELINE>    WASHINGT
ON </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>

</DOC>

============= Transaction # 243 ==============================================
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<DOC>
<DOCNO>FT924-1774</DOCNO>
<PROFILE>_AN-CLPCOAEEFT</PROFILE>
<DATE>9212
16
</DATE>
<HEADLINE> FT  16 DEC 92 / International Company News: Allstate I
nsurance debt under review </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>
<
DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB
>
<PAGE> London Page 28 </PAGE>
</DOC>

============= Transaction # 244 ==============================================
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<DOC>
<DOCNO>FT923-6510</DOCNO>
<PROFILE>_AN-CHZBBACCFT</PROFILE>
<DATE>9208
24
</DATE>
<HEADLINE> FT  24 AUG 92 / Letter: Spat over a 10-gallon hat </HE
ADLINE>
<BYLINE>    From Dr LANE HUGHSTON </BYLINE>
<TEXT>
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
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 11 </PAGE>
</DO
C>

============= Transaction # 245 ==============================================
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<DOC>
<DOCNO>FT924-10300</DOCNO>
<PROFILE>_AN-CKAABAD3FT</PROFILE>
<DATE>921
031
</DATE>
<HEADLINE> FT  31 OCT 92 / International Company News: Aetna str
ongly ahead despite hurricane impact </HEADLINE>
<BYLINE>    By MARTIN DICKS
ON </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</
TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 12 </PAGE>
</DOC>

============= Transaction # 246 ==============================================
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<DOC>
<DOCNO>FT941-10424</DOCNO>
<PROFILE>_AN-EBIDBAF3FT</PROFILE>
<DATE>940
209
</DATE>
<HEADLINE> FT  09 FEB 94 / International Company News: Further a
dvances at Allstate </HEADLINE>
<BYLINE>    By RICHARD WATERS </BYLINE>
<DAT
ELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Al
lstate Insurance.
</CO>
<XX>
Countries:-
</XX>
<CN>USZ  United States of Ame
rica.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Ins
urance.
    P6311 Life Insurance.
</IN>
<XX>
Types:-
</XX>
<TP>FIN  Interim 
results.
    FIN  Annual report.
</TP>
<PUB>The Financial Times </PUB>
<PAGE
> London Page 31 </PAGE>
</DOC>

============= Transaction # 247 ==============================================
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<DOC>
<DOCNO>FT924-11804</DOCNO>
<PROFILE>_AN-CJWBWAFTFT</PROFILE>
<DATE>921
023
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>

<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 28 </PAGE>
</DOC>

============= Transaction # 248 ==============================================
Transaction #:    248       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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Selec. Rec. #:     21

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<DOC>
<DOCNO>FT924-13399</DOCNO>
<PROFILE>_AN-CJOBTAFZFT</PROFILE>
<DATE>921
015
</DATE>
<HEADLINE> FT  15 OCT 92 / International Company News: State Far
m says it expects Dollars 2bn hurricane claims </HEADLINE>
<BYLINE>    By NI
KKI TAIT </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PA
GE> London Page 28 </PAGE>
</DOC>

============= Transaction # 249 ==============================================
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<DOC>
<DOCNO>FT924-9636</DOCNO>
<PROFILE>_AN-CKEBPAFHFT</PROFILE>
<DATE>9211
04
</DATE>
<HEADLINE> FT  04 NOV 92 / International Company News: Hurricane 
Andrew takes its toll on Travelers Corp </HEADLINE>
<BYLINE>    By NIKKI TAI
T </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page 30 </PAGE>
</DOC>

============= Transaction # 250 ==============================================
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<DOC>
<DOCNO>FT942-508</DOCNO>
<PROFILE>_AN-EF2DYABMFT</PROFILE>
<DATE>94062
9
</DATE>
<HEADLINE> FT  29 JUN 94 / California may require quake cover </HE
ADLINE>
<BYLINE>    By RICHARD WATERS </BYLINE>
<DATELINE>    NEW YORK </DAT
ELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  United Stat
es of America.
</CN>
<XX>
Industries:-
</XX>
<IN>P9651 Regulation of Miscell
aneous Commercial Sectors.
    P6331 Fire, Marine, and Casualty Insurance.
<
/IN>
<XX>
Types:-
</XX>
<TP>TECH  Safety & Standards.
</TP>
<PUB>The Financi
al Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 251 ==============================================
Transaction #:    251       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT924-83</DOCNO>
<PROFILE>_AN-CL4A8AA6FT</PROFILE>
<DATE>921231

</DATE>
<HEADLINE> FT  31 DEC 92 / Reinsurance rates trigger tough talks </
HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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.'
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 252 ==============================================
Transaction #:    252       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 253 ==============================================
Transaction #:    253       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-5797</DOCNO>
<PROFILE>_AN-CIBBCACSFT</PROFILE>
<DATE>9208
28
</DATE>
<HEADLINE> FT  28 AUG 92 / Cleaning up after Andrew </HEADLINE>
<
BYLINE>    By AGENCIES </BYLINE>
<DATELINE>    FLORIDA, NEW ORLEANS </DATELI
NE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London
 Page 4 </PAGE>
</DOC>

============= Transaction # 254 ==============================================
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<DOC>
<DOCNO>FT931-3243</DOCNO>
<PROFILE>_AN-DCQCCABUFT</PROFILE>
<DATE>9303
17
</DATE>
<HEADLINE> FT  17 MAR 93 / International Company News: Hurricane 
claims cost GIO at least Dollars 15bn </HEADLINE>
<BYLINE>    By KEVIN BROWN
 and REUTER </BYLINE>
<DATELINE>    MELBOURNE </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companie
s:-
</XX>
<CO>GIO Australia.
    Jennings.
</CO>
<XX>
Countries:-
</XX>
<CN>
AUZ  Australia.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Ca
sualty Insurance.
    P1521 Single-Family Housing Construction.
</IN>
<XX>
T
ypes:-
</XX>
<TP>FIN  Interim results.
    FIN  Share issues.
</TP>
<PUB>The
 Financial Times </PUB>
<PAGE> London Page 48 </PAGE>
</DOC>

============= Transaction # 255 ==============================================
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<DOC>
<DOCNO>FT923-5656</DOCNO>
<PROFILE>_AN-CIBBTAATFT</PROFILE>
<DATE>9208
29
</DATE>
<HEADLINE> FT  29 AUG 92 / Hurricane may cost insurers over Dolla
rs 8bn </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>
<DATELINE>    NEW YOR
K </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial T
imes </PUB>
<PAGE> London Page 3 </PAGE>
</DOC>

============= Transaction # 256 ==============================================
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<DOC>
<DOCNO>FT924-8379</DOCNO>
<PROFILE>_AN-CKKCIAD8FT</PROFILE>
<DATE>9211
11
</DATE>
<HEADLINE> FT  11 NOV 92 / UK Company News: General Accident's Po
unds 37m loss blamed on Hurricane Andrew </HEADLINE>
<BYLINE>    By RICHARD 
LAPPER </BYLINE>
<TEXT>
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).
</TEXT>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 25 </PAGE>
</DOC>

============= Transaction # 257 ==============================================
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<DOC>
<DOCNO>FT923-6279</DOCNO>
<PROFILE>_AN-CHZBXAE9FT</PROFILE>
<DATE>9208
25
</DATE>
<HEADLINE> FT  25 AUG 92 / World Commodities Prices: Market Repor
t </HEADLINE>
<BYLINE>    By REUTER </BYLINE>
<TEXT>
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
</TEXT>
<PUB>The F
inancial Times </PUB>
<PAGE> London Page 22 </PAGE>
</DOC>

============= Transaction # 258 ==============================================
Transaction #:    258       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT924-10807</DOCNO>
<PROFILE>_AN-CJ2B8ACQFT</PROFILE>
<DATE>921
029
</DATE>
<HEADLINE> FT  29 OCT 92 / International Company News: USF&G ret
urns to the black in third quarter </HEADLINE>
<BYLINE>    By NIKKI TAIT </B
YLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial 
Times </PUB>
<PAGE> London Page 25 </PAGE>
</DOC>

============= Transaction # 259 ==============================================
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<DOC>
<DOCNO>FT924-14628</DOCNO>
<PROFILE>_AN-CJHBUAFAFT</PROFILE>
<DATE>921
008
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By LAURIE MORSE </BYLINE>
<TEXT>
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.'
</TEXT>
<PUB>The Finan
cial Times </PUB>
<PAGE> London Page 30 </PAGE>
</DOC>

============= Transaction # 260 ==============================================
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<DOC>
<DOCNO>FT924-9182</DOCNO>
<PROFILE>_AN-CKFB8AF0FT</PROFILE>
<DATE>9211
06
</DATE>
<HEADLINE> FT  06 NOV 92 / International Company News: Continenta
l Corp tumbles into red and cuts dividend </HEADLINE>
<BYLINE>    By NIKKI T
AIT </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times <
/PUB>
<PAGE> London Page 31 </PAGE>
</DOC>

============= Transaction # 261 ==============================================
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<DOC>
<DOCNO>FT933-12493</DOCNO>
<PROFILE>_AN-DGWCHAF7FT</PROFILE>
<DATE>930
723
</DATE>
<HEADLINE> FT  23 JUL 93 / International Company News: Munich Re
 maintains dividend as loss widens </HEADLINE>
<BYLINE>    By DAVID WALLER <
/BYLINE>
<DATELINE>    FRANKFURT </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Munchener Ru
ckversicherungs-Gesellschaft.
</CO>
<XX>
Countries:-
</XX>
<CN>DEZ  Germany,
 EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insu
rance.
</IN>
<XX>
Types:-
</XX>
<TP>FIN  Annual report.
</TP>
<PUB>The Finan
cial Times </PUB>
<PAGE> London Page 24 </PAGE>
</DOC>

============= Transaction # 262 ==============================================
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<DOC>
<DOCNO>FT923-5589</DOCNO>
<PROFILE>_AN-CIBBTACQFT</PROFILE>
<DATE>9208
29
</DATE>
<HEADLINE> FT  29 AUG 92 / Markets: Hurricane rages but dollar st
orm blows out - Wall Street </HEADLINE>
<BYLINE>    By PATRICK HARVERSON </B
YLINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page II </PAGE>
</DOC>

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<DOCNO>FT931-5706</DOCNO>
<PROFILE>_AN-DCDB5AGAFT</PROFILE>
<DATE>9303
04
</DATE>
<HEADLINE> FT  04 MAR 93 / International Company News: Capital ri
se at US Pru in spite of hurricane </HEADLINE>
<BYLINE>    By NIKKI TAIT and
 PATRICK HARVERSON </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Prudential.
</CO>
<XX>
Coun
tries:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</X
X>
<IN>P6311 Life Insurance.
    P6411 Insurance Agents, Brokers, and Servic
e.
</IN>
<XX>
Types:-
</XX>
<TP>COMP  Company News.
    INS  Insurance.
</TP
>
<PUB>The Financial Times </PUB>
<PAGE> London Page 27 </PAGE>
</DOC>

============= Transaction # 264 ==============================================
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<DOC>
<DOCNO>FT924-9633</DOCNO>
<PROFILE>_AN-CKEBPAFLFT</PROFILE>
<DATE>9211
04
</DATE>
<HEADLINE> FT  04 NOV 92 / International Company News: Cigna stay
s in the black despite heavy storm losses </HEADLINE>
<BYLINE>    By NIKKI T
AIT </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>Th
e Financial Times </PUB>
<PAGE> London Page 31 </PAGE>
</DOC>

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============= Transaction # 266 ==============================================
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<DOCNO>FT923-4554</DOCNO>
<PROFILE>_AN-CIFAEAEAFT</PROFILE>
<DATE>9209
05
</DATE>
<HEADLINE> FT  05 SEP 92 / Right direction </HEADLINE>
<TEXT>
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
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 22 </PAGE>

</DOC>

============= Transaction # 267 ==============================================
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<DOC>
<DOCNO>FT931-6935</DOCNO>
<PROFILE>_AN-DBZCKAF9FT</PROFILE>
<DATE>9302
26
</DATE>
<HEADLINE> FT  26 FEB 93 / International Company News: US insurer
 to quit Japan </HEADLINE>
<BYLINE>    By EMIKO TERAZONO </BYLINE>
<DATELINE
>    TOKYO </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Contine
ntal Insurance.
</CO>
<XX>
Countries:-
</XX>
<CN>JPZ  Japan, Asia.
</CN>
<XX
>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.
</IN>
<
XX>
Types:-
</XX>
<TP>COMP  Company News.
    TECH  Services.
</TP>
<PUB>The
 Financial Times </PUB>
<PAGE> London Page 29 </PAGE>
</DOC>

============= Transaction # 268 ==============================================
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<PROFILE>_AN-CIRBKAB3FT</PROFILE>
<DATE>9209
18
</DATE>
<HEADLINE> FT  18 SEP 92 / Clearing the fields </HEADLINE>
<TEXT>

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
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 11 </PAGE>
</DO
C>

============= Transaction # 269 ==============================================
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<DOC>
<DOCNO>FT924-11763</DOCNO>
<PROFILE>_AN-CJWBWAG1FT</PROFILE>
<DATE>921
023
</DATE>
<HEADLINE> FT  23 OCT 92 / International Company News: Extraordi
nary items push ITT down 36% in period </HEADLINE>
<BYLINE>    By KAREN ZAGO
R </BYLINE>
<TEXT>
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.
</TEXT>
<PUB>
The Financial Times </PUB>
<PAGE> London Page 27 </PAGE>
</DOC>

============= Transaction # 270 ==============================================
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<DOCNO>FT924-2519</DOCNO>
<PROFILE>_AN-CLNB1AD6FT</PROFILE>
<DATE>9212
12
</DATE>
<HEADLINE> FT  12 DEC 92 / World News in Brief: Storm batters US 
east coast </HEADLINE>
<TEXT>
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
</TEXT>
<PUB>The Financial Times </
PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 271 ==============================================
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<DOC>
<DOCNO>FT924-12072</DOCNO>
<PROFILE>_AN-CJVB5AE6FT</PROFILE>
<DATE>921
022
</DATE>
<HEADLINE> FT  22 OCT 92 / International Company News: Hurricane
 helps reduce Texaco earnings by 6% </HEADLINE>
<BYLINE>    By ALAN FRIEDMAN
 </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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>
<PUB>The Financial Times </PUB>
<PAGE> London Page 26 </PAGE>
</DOC>


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<DOCNO>FT924-12072</DOCNO>
<PROFILE>_AN-CJVB5AE6FT</PROFILE>
<DATE>921
022
</DATE>
<HEADLINE> FT  22 OCT 92 / International Company News: Hurricane
 helps reduce Texaco earnings by 6% </HEADLINE>
<BYLINE>    By ALAN FRIEDMAN
 </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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>
<PUB>The Financial Times </PUB>
<PAGE> London Page 26 </PAGE>
</DOC>


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<DOC>
<DOCNO>FT923-7399</DOCNO>
<PROFILE>_AN-CHTAOADUFT</PROFILE>
<DATE>9208
18
</DATE>
<HEADLINE> FT  18 AUG 92 / Houston in a whirl as the party hurric
ane hits </HEADLINE>
<DATELINE>    REPUBLICANS were warned that Houston can 
be inhospitable </DATELINE>
<TEXT>
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'.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 274 ==============================================
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<DOCNO>FT924-12238</DOCNO>
<PROFILE>_AN-CJUB4ACWFT</PROFILE>
<DATE>921
021
</DATE>
<HEADLINE> FT  21 OCT 92 / International Company News: Allianz s
ees increase in turnover to DM52bn </HEADLINE>
<BYLINE>    By DAVID WALLER <
/BYLINE>
<DATELINE>    FRANKFURT </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Fin
ancial Times </PUB>
<PAGE> London Page 26 </PAGE>
</DOC>

============= Transaction # 275 ==============================================
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<DOC>
<DOCNO>FT923-1220</DOCNO>
<PROFILE>_AN-CIXB5ACKFT</PROFILE>
<DATE>9209
24
</DATE>
<HEADLINE> FT  24 SEP 92 / Recovery in US 'slow but uneven' </HEA
DLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    WASHINGTON </DATELINE>

<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Lond
on Page 6 </PAGE>
</DOC>

============= Transaction # 276 ==============================================
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<DOCNO>FT933-15680</DOCNO>
<PROFILE>_AN-DGHCRAAEFT</PROFILE>
<DATE>930
708
</DATE>
<HEADLINE> FT  08 JUL 93 / World News in Brief: Calvin lashes Me
xico </HEADLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>MXZ  Mexico.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</X
X>
<TP>NEWS  General News.
    RES  Natural resources.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 277 ==============================================
Transaction #:    277       Transaction Code:  19 (Record Selected)        

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<DATE>930
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</DATE>
<HEADLINE> FT  08 JUL 93 / World News in Brief: Calvin lashes Me
xico </HEADLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>MXZ  Mexico.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
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X>
<TP>NEWS  General News.
    RES  Natural resources.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 278 ==============================================
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<PROFILE>_AN-DGHCRAAEFT</PROFILE>
<DATE>930
708
</DATE>
<HEADLINE> FT  08 JUL 93 / World News in Brief: Calvin lashes Me
xico </HEADLINE>
<TEXT>
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
</TEXT>
<XX>
Countries:-
</XX>
<CN>MXZ  Mexico.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
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X>
<TP>NEWS  General News.
    RES  Natural resources.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 279 ==============================================
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<DOCNO>FT931-13755</DOCNO>
<PROFILE>_AN-DAVB3AABFT</PROFILE>
<DATE>930
122
</DATE>
<HEADLINE> FT  22 JAN 93 / World News in Brief: Anglo-Irish resc
ue bid </HEADLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>IEZ  Ireland, EC.
</CN>
<XX>
Industr
ies:-
</XX>
<IN>P4412  Deep Sea Foreign Transportation of Freight.
</IN>
<XX
>
Types:-
</XX>
<TP>RES  Facilities.
</TP>
<PUB>The Financial Times </PUB>
<
PAGE> London Page 1 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT931-2618</DOCNO>
<PROFILE>_AN-DCSB4ABMFT</PROFILE>
<DATE>9303
19
</DATE>
<HEADLINE> FT  19 MAR 93 / International Company News: Skandia lo
sses deepen four-fold </HEADLINE>
<BYLINE>    By CHRISTOPHER BROWN-HUMES </B
YLINE>
<DATELINE>    STOCKHOLM </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Skandia G
roup Forsakrings.
</CO>
<XX>
Countries:-
</XX>
<CN>SEZ  Sweden, West Europe.

</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insuranc
e.
</IN>
<XX>
Types:-
</XX>
<TP>FIN  Annual report.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 22 </PAGE>
</DOC>

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============= Transaction # 282 ==============================================
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<DOC>
<DOCNO>FT924-9192</DOCNO>
<PROFILE>_AN-CKFB8AFOFT</PROFILE>
<DATE>9211
06
</DATE>
<HEADLINE> FT  06 NOV 92 / International Company News: US insurer
s check impact of hurricane </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>

<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TE
XT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 30 </PAGE>
</DOC>

============= Transaction # 283 ==============================================
Transaction #:    283       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT934-13174</DOCNO>
<PROFILE>_AN-DJVCQAGAFT</PROFILE>
<DATE>931
022
</DATE>
<HEADLINE> FT  22 OCT 93 / International Company News: Catastrop
he respite lifts Allstate </HEADLINE>
<BYLINE>    By RICHARD WATERS </BYLINE
>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX
>
<CO>Allstate Insurance.
</CO>
<XX>
Countries:-
</XX>
<CN>USZ  United State
s of America.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casu
alty Insurance.
    P6311 Life Insurance.
</IN>
<XX>
Types:-
</XX>
<TP>FIN  
Interim results.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 27
 </PAGE>
</DOC>

============= Transaction # 284 ==============================================
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<DOC>
<DOCNO>FT924-9611</DOCNO>
<PROFILE>_AN-CKFB8AHWFT</PROFILE>
<DATE>9211
05
</DATE>
<HEADLINE> FT  05 NOV 92 / International Company News: Reliance i
mproves </HEADLINE>
<TEXT>
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
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 28 </PAGE>
</DO
C>

============= Transaction # 285 ==============================================
Transaction #:    285       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT941-10842</DOCNO>
<PROFILE>_AN-EBHC6ABGFT</PROFILE>
<DATE>940
208
</DATE>
<HEADLINE> FT  08 FEB 94 / LA quake 'set to cost insurers about 
Dollars 2.5bn' </HEADLINE>
<BYLINE>    By RICHARD WATERS </BYLINE>
<DATELINE
>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  U
nited States of America.
</CN>
<XX>
Industries:-
</XX>
<IN>P63   Insurance C
arriers.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Fin
ancial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 286 ==============================================
Transaction #:    286       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT924-6225</DOCNO>
<PROFILE>_AN-CKWCKAAWFT</PROFILE>
<DATE>9211
23
</DATE>
<HEADLINE> FT  23 NOV 92 / Tornadoes kill 16 in US </HEADLINE>
<B
YLINE>    By REUTER </BYLINE>
<DATELINE>    JACKSON </DATELINE>
<TEXT>
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.
</TEXT>
<
PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 287 ==============================================
Transaction #:    287       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-764</DOCNO>
<PROFILE>_AN-CI0ADACDFT</PROFILE>
<DATE>92092
6
</DATE>
<HEADLINE> FT  26 SEP 92 / Markets: Insurance dividend gone with t
he wind - Wall Street </HEADLINE>
<BYLINE>    By MARTIN DICKSON </BYLINE>
<T
EXT>
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
 -------------------------------
</TEXT>
<PUB>The Financial Times </P
UB>
<PAGE> London Page II </PAGE>
</DOC>

============= Transaction # 288 ==============================================
Transaction #:    288       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT924-9612</DOCNO>
<PROFILE>_AN-CKFB8AHVFT</PROFILE>
<DATE>9211
05
</DATE>
<HEADLINE> FT  05 NOV 92 / International Company News: Loews slum
ps </HEADLINE>
<TEXT>
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
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 28 </PAGE>
</DO
C>

============= Transaction # 289 ==============================================
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<DOC>
<DOCNO>FT941-14780</DOCNO>
<PROFILE>_AN-EASC7AA9FT</PROFILE>
<DATE>940
119
</DATE>
<HEADLINE> FT  19 JAN 94 / Damage in quake may far exceed Dollar
s 7bn high </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Companie
s:-
</XX>
<CO>Lloyd's of London.
</CO>
<XX>
Countries:-
</XX>
<CN>USZ  Unite
d States of America.
</CN>
<XX>
Industries:-
</XX>
<IN>P6411 Insurance Agent
s, Brokers, and Service.
</IN>
<XX>
Types:-
</XX>
<TP>INS  Insurance.
</TP>

<PUB>The Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 290 ==============================================
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  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT924-15058</DOCNO>
<PROFILE>_AN-CJGCCAA0FT</PROFILE>
<DATE>921
007
</DATE>
<HEADLINE> FT  07 OCT 92 / M&G to seek rises in profit margins <
/HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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
</TEXT>

<PUB>The Financial Times </PUB>
<PAGE> London Page 21 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT924-7937</DOCNO>
<PROFILE>_AN-CKMB5AEHFT</PROFILE>
<DATE>9211
13
</DATE>
<HEADLINE> FT  13 NOV 92 / Royal Insurance cuts losses by 60% to 
Pounds 83m </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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
</TEXT>
<PUB>The Financia
l Times </PUB>
<PAGE> London Page 29 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-14801</DOCNO>
<PROFILE>_AN-DGMB6ABCFT</PROFILE>
<DATE>930
713
</DATE>
<HEADLINE> FT  13 JUL 93 / Washington to foot the bill: Number o
f claims will rise as the waters fall </HEADLINE>
<BYLINE>    By NIKKI TAIT 
</BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries
:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>
<I
N>P6331 Fire, Marine, and Casualty Insurance.
    P9229 Public Order and Saf
ety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>Th
e Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

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============= Transaction # 295 ==============================================
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<DOC>
<DOCNO>FT923-5089</DOCNO>
<PROFILE>_AN-CIEAPAA8FT</PROFILE>
<DATE>9209
03
</DATE>
<HEADLINE> FT  03 SEP 92 / Bush calls on power to dispense larges
se: Hurricane's aid to the president </HEADLINE>
<BYLINE>    By JUREK MARTIN
 and NIKKI TAIT </BYLINE>
<TEXT>
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.
</TEXT>

<PUB>The Financial Times </PUB>
<PAGE> London Page 7 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-671</DOCNO>
<PROFILE>_AN-CI0ADAE5FT</PROFILE>
<DATE>92092
6
</DATE>
<HEADLINE> FT  26 SEP 92 / Economic recovery in US falters: Figure
s show broad weakness </HEADLINE>
<BYLINE>    By MICHAEL PROWSE and AP </BYL
INE>
<DATELINE>    WASHINGTON </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page
 4 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT922-4505</DOCNO>
<PROFILE>_AN-CFEA9ABVFT</PROFILE>
<DATE>9206
05
</DATE>
<HEADLINE> FT  05 JUN 92 / Observer: Swiss courage </HEADLINE>
<T
EXT>
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."
</TEXT>
<PUB>The Financial Tim
es </PUB>
<PAGE> London Page 19 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT943-12121</DOCNO>
<PROFILE>_AN-EG1ANABLFT</PROFILE>
<DATE>940
727
</DATE>
<HEADLINE> FT  27 JUL 94 / Gooda Walker hearing ends </HEADLINE>

<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<
CO>Gooda Walker.
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
<
/CN>
<XX>
Industries:-
</XX>
<IN>P9211 Courts.
</IN>
<XX>
Types:-
</XX>
<TP>
COMP  Company News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page
 6 </PAGE>
</DOC>

============= 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)        
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Selec. Rec. #:     65

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<DOC>
<DOCNO>FT942-3393</DOCNO>
<PROFILE>_AN-EFODGAB7FT</PROFILE>
<DATE>9406
15
</DATE>
<HEADLINE> FT  15 JUN 94 / Gooda underwriting was unsustainable: 
Former chairman admits survival of agency depended on absence of catastrophe
s </HEADLINE>
<BYLINE>    By JOHN MASON, Law Courts Correspondent </BYLINE>

<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>

<CO>Gooda Walker.
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.

</CN>
<XX>
Industries:-
</XX>
<IN>P9211 Courts.
</IN>
<XX>
Types:-
</XX>
<T
P>COMP  Company News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 10 </PAGE>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT931-9982</DOCNO>
<PROFILE>_AN-DBKB3ABTFT</PROFILE>
<DATE>9302
11
</DATE>
<HEADLINE> FT  11 FEB 93 / International Company News: US insurer
s report heavy losses </HEADLINE>
<BYLINE>    By PATRICK HARVERSON </BYLINE>

<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Aetna Life and Casualty.
   
 Travelers Corp.
</CO>
<XX>
Countries:-
</XX>
<CN>UnZited States of America.

</CN>
<XX>
Industries:-
</XX>
<IN>P6311 Life Insurance.
    P6411 Insurance
 Agents, Brokers, and Service.
    P6211 Security Brokers and Dealers.
    P
6159 Miscellaneous Business Credit Institutions.
</IN>
<XX>
Types:-
</XX>
<T
P>COMP  Company News.
    FIN  Interim results.
</TP>
<PUB>The Financial Tim
es </PUB>
<PAGE> London Page 27 </PAGE>
</DOC>

============= 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)        
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Selec. Rec. #:     67

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<DOC>
<DOCNO>FT924-11716</DOCNO>
<PROFILE>_AN-CJYAZADXFT</PROFILE>
<DATE>921
024
</DATE>
<HEADLINE> FT  24 OCT 92 / International Company News: GAN profi
ts sharply lower after six months </HEADLINE>
<BYLINE>    By WILLIAM DAWKINS
 </BYLINE>
<DATELINE>    PARIS </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Fina
ncial Times </PUB>
<PAGE> London Page 10 </PAGE>
</DOC>

============= 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)        
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Selec. Rec. #:     68

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<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'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
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

============= 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)        
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<DOC>
<DOCNO>FT934-16876</DOCNO>
<PROFILE>_AN-DJDB4ADRFT</PROFILE>
<DATE>931
004
</DATE>
<HEADLINE> FT  04 OCT 93 / International Company News: Swiss Re 
lifts earnings to SFr281m </HEADLINE>
<BYLINE>    By IAN RODGER </BYLINE>
<D
ATELINE>    ZURICH </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<C
O>Swiss Reinsurance.
</CO>
<XX>
Countries:-
</XX>
<CN>CHZ   Switzerland, Wes
t Europe.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty
 Insurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Typ
es:-
</XX>
<TP>FIN  Share issues.
    FIN  Annual report.
</TP>
<PUB>The Fin
ancial Times </PUB>
<PAGE> London Page 17 </PAGE>
</DOC>

============= 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)        

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Selec. Rec. #:     70

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<DOC>
<DOCNO>FT931-4836</DOCNO>
<PROFILE>_AN-DCICJAF0FT</PROFILE>
<DATE>9303
09
</DATE>
<HEADLINE> FT  09 MAR 93 / International Company News: Write-down
s hit Uni Storebrand </HEADLINE>
<BYLINE>    By KAREN FOSSLI </BYLINE>
<DATE
LINE>    OSLO </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Uni Store
brand.
</CO>
<XX>
Countries:-
</XX>
<CN>NOZ  Norway, West Europe.
</CN>
<XX>

Industries:-
</XX>
<IN>P63   Insurance Carriers.
</IN>
<XX>
Types:-
</XX>
<
TP>FIN  Annual report.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 305 ==============================================
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<DOC>
<DOCNO>FT922-6694</DOCNO>
<PROFILE>_AN-CEVA2ACEFT</PROFILE>
<DATE>9205
22
</DATE>
<HEADLINE> FT  22 MAY 92 / International Company News: Los Angele
s riots cost insurers Dollars 775m </HEADLINE>
<BYLINE>    By NIKKI TAIT </B
YLINE>
<TEXT>
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).
</TEXT>
<PUB>The 
Financial Times </PUB>
<PAGE> London Page 26 </PAGE>
</DOC>

============= Transaction # 306 ==============================================
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<DOC>
<DOCNO>FT934-13175</DOCNO>
<PROFILE>_AN-DJVCQAF9FT</PROFILE>
<DATE>931
022
</DATE>
<HEADLINE> FT  22 OCT 93 / International Company News: Sales sli
p but ITT increases net income </HEADLINE>
<BYLINE>    By MARTIN DICKSON </B
YLINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>ITT Corp.
</CO>
<XX>
Countri
es:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P6719 Holding Companies, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>FIN  Interim 
results.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 27 </PAGE>

</DOC>

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============= Transaction # 308 ==============================================
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<DOC>
<DOCNO>FT924-9872</DOCNO>
<PROFILE>_AN-CKCCTAGMFT</PROFILE>
<DATE>9211
03
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By KAREN ZAGOR </BYLINE>
<TEXT>
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.'
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London
 Page V </PAGE>
</DOC>

============= Transaction # 309 ==============================================
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<DOC>
<DOCNO>FT922-4505</DOCNO>
<PROFILE>_AN-CFEA9ABVFT</PROFILE>
<DATE>9206
05
</DATE>
<HEADLINE> FT  05 JUN 92 / Observer: Swiss courage </HEADLINE>
<T
EXT>
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."
</TEXT>
<PUB>The Financial Tim
es </PUB>
<PAGE> London Page 19 </PAGE>
</DOC>

============= Transaction # 310 ==============================================
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<DOC>
<DOCNO>FT943-12121</DOCNO>
<PROFILE>_AN-EG1ANABLFT</PROFILE>
<DATE>940
727
</DATE>
<HEADLINE> FT  27 JUL 94 / Gooda Walker hearing ends </HEADLINE>

<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<
CO>Gooda Walker.
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
<
/CN>
<XX>
Industries:-
</XX>
<IN>P9211 Courts.
</IN>
<XX>
Types:-
</XX>
<TP>
COMP  Company News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page
 6 </PAGE>
</DOC>

============= Transaction # 311 ==============================================
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<DOC>
<DOCNO>FT942-3393</DOCNO>
<PROFILE>_AN-EFODGAB7FT</PROFILE>
<DATE>9406
15
</DATE>
<HEADLINE> FT  15 JUN 94 / Gooda underwriting was unsustainable: 
Former chairman admits survival of agency depended on absence of catastrophe
s </HEADLINE>
<BYLINE>    By JOHN MASON, Law Courts Correspondent </BYLINE>

<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>

<CO>Gooda Walker.
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.

</CN>
<XX>
Industries:-
</XX>
<IN>P9211 Courts.
</IN>
<XX>
Types:-
</XX>
<T
P>COMP  Company News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 10 </PAGE>
</DOC>

============= Transaction # 312 ==============================================
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<DOC>
<DOCNO>FT931-9982</DOCNO>
<PROFILE>_AN-DBKB3ABTFT</PROFILE>
<DATE>9302
11
</DATE>
<HEADLINE> FT  11 FEB 93 / International Company News: US insurer
s report heavy losses </HEADLINE>
<BYLINE>    By PATRICK HARVERSON </BYLINE>

<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Aetna Life and Casualty.
   
 Travelers Corp.
</CO>
<XX>
Countries:-
</XX>
<CN>UnZited States of America.

</CN>
<XX>
Industries:-
</XX>
<IN>P6311 Life Insurance.
    P6411 Insurance
 Agents, Brokers, and Service.
    P6211 Security Brokers and Dealers.
    P
6159 Miscellaneous Business Credit Institutions.
</IN>
<XX>
Types:-
</XX>
<T
P>COMP  Company News.
    FIN  Interim results.
</TP>
<PUB>The Financial Tim
es </PUB>
<PAGE> London Page 27 </PAGE>
</DOC>

============= Transaction # 313 ==============================================
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<DOC>
<DOCNO>FT924-11716</DOCNO>
<PROFILE>_AN-CJYAZADXFT</PROFILE>
<DATE>921
024
</DATE>
<HEADLINE> FT  24 OCT 92 / International Company News: GAN profi
ts sharply lower after six months </HEADLINE>
<BYLINE>    By WILLIAM DAWKINS
 </BYLINE>
<DATELINE>    PARIS </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Fina
ncial Times </PUB>
<PAGE> London Page 10 </PAGE>
</DOC>

============= Transaction # 314 ==============================================
Transaction #:    314       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'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
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

============= Transaction # 315 ==============================================
Transaction #:    315       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT934-16876</DOCNO>
<PROFILE>_AN-DJDB4ADRFT</PROFILE>
<DATE>931
004
</DATE>
<HEADLINE> FT  04 OCT 93 / International Company News: Swiss Re 
lifts earnings to SFr281m </HEADLINE>
<BYLINE>    By IAN RODGER </BYLINE>
<D
ATELINE>    ZURICH </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<C
O>Swiss Reinsurance.
</CO>
<XX>
Countries:-
</XX>
<CN>CHZ   Switzerland, Wes
t Europe.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty
 Insurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Typ
es:-
</XX>
<TP>FIN  Share issues.
    FIN  Annual report.
</TP>
<PUB>The Fin
ancial Times </PUB>
<PAGE> London Page 17 </PAGE>
</DOC>

============= Transaction # 316 ==============================================
Transaction #:    316       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT931-4836</DOCNO>
<PROFILE>_AN-DCICJAF0FT</PROFILE>
<DATE>9303
09
</DATE>
<HEADLINE> FT  09 MAR 93 / International Company News: Write-down
s hit Uni Storebrand </HEADLINE>
<BYLINE>    By KAREN FOSSLI </BYLINE>
<DATE
LINE>    OSLO </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Uni Store
brand.
</CO>
<XX>
Countries:-
</XX>
<CN>NOZ  Norway, West Europe.
</CN>
<XX>

Industries:-
</XX>
<IN>P63   Insurance Carriers.
</IN>
<XX>
Types:-
</XX>
<
TP>FIN  Annual report.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 317 ==============================================
Transaction #:    317       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT922-6694</DOCNO>
<PROFILE>_AN-CEVA2ACEFT</PROFILE>
<DATE>9205
22
</DATE>
<HEADLINE> FT  22 MAY 92 / International Company News: Los Angele
s riots cost insurers Dollars 775m </HEADLINE>
<BYLINE>    By NIKKI TAIT </B
YLINE>
<TEXT>
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).
</TEXT>
<PUB>The 
Financial Times </PUB>
<PAGE> London Page 26 </PAGE>
</DOC>

============= Transaction # 318 ==============================================
Transaction #:    318       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID: 12781888       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT934-13175</DOCNO>
<PROFILE>_AN-DJVCQAF9FT</PROFILE>
<DATE>931
022
</DATE>
<HEADLINE> FT  22 OCT 93 / International Company News: Sales sli
p but ITT increases net income </HEADLINE>
<BYLINE>    By MARTIN DICKSON </B
YLINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>ITT Corp.
</CO>
<XX>
Countri
es:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P6719 Holding Companies, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>FIN  Interim 
results.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 27 </PAGE>

</DOC>

============= Transaction # 319 ==============================================
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<DOC>
<DOCNO>FT924-9872</DOCNO>
<PROFILE>_AN-CKCCTAGMFT</PROFILE>
<DATE>9211
03
</DATE>
<HEADLINE> 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 </HEADLINE>
<BYLINE>    By KAREN ZAGOR </BYLINE>
<TEXT>
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.'
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London
 Page V </PAGE>
</DOC>

============= Transaction # 320 ==============================================
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============= Transaction # 321 ==============================================
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============= Transaction # 322 ==============================================
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<DOC>
<DOCNO>FT923-701</DOCNO>
<PROFILE>_AN-CI0ADAD6FT</PROFILE>
<DATE>92092
6
</DATE>
<HEADLINE> FT  26 SEP 92 / World Stock Markets (America): Economic
 and election uncertainty hit Dow </HEADLINE>
<BYLINE>    By PATRICK HARVERS
ON </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<
PAGE> London Page 21 </PAGE>
</DOC>

============= Transaction # 323 ==============================================
Transaction #:    323       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-5893</DOCNO>
<PROFILE>_AN-CH1BVAFLFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / World Stock Markets (America): Dow imp
roves in wake of a steadier dollar </HEADLINE>
<BYLINE>    By PATRICK HARVER
SON </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</
TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 31 </PAGE>
</DOC>

============= Transaction # 324 ==============================================
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<DOC>
<DOCNO>FT941-1866</DOCNO>
<PROFILE>_AN-ECWDJAGNFT</PROFILE>
<DATE>9403
23
</DATE>
<HEADLINE> FT  23 MAR 94 / International Company News: State Farm
 confident on quake costs </HEADLINE>
<BYLINE>    By RICHARD WATERS </BYLINE
>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-

</XX>
<CO>State Farm Fire and Casualty Insurance.
    Allstate Corp.
</CO>
<
XX>
Countries:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industri
es:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.
</IN>
<XX>
Types:
-
</XX>
<TP>COMP  Company News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE>
 London Page 33 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT931-16651</DOCNO>
<PROFILE>_AN-DAEB7AEFFT</PROFILE>
<DATE>930
105
</DATE>
<HEADLINE> FT  05 JAN 93 / International Company News: Aetna say
s storm claims will cut earnings by Dollars 27m </HEADLINE>
<BYLINE>    By P
ATRICK HARVERSON </BYLINE>
<TEXT>
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.
</TEXT
>
<XX>
Companies:-
</XX>
<CO>Aetna Life and Casualty.
</CO>
<XX>
Countries:-

</XX>
<CN>USZ  USA.
</CN>
<XX>
Industries:-
</XX>
<IN>P6411  Insurance Agen
ts, Brokers, and Service.
</IN>
<XX>
Types:-
</XX>
<TP>COMP  Company News.
 
   FIN  Company Finance.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London
 Page 21 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-4288</DOCNO>
<PROFILE>_AN-DIIB8AE0FT</PROFILE>
<DATE>9309
09
</DATE>
<HEADLINE> FT  09 SEP 93 / UK Company News: Royal sells US reinsu
rance arm for Dollars 59m </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE
>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<
CO>Royal Insurance Holdings.
    American Royal Reinsurance.
    QBE Insuran
ce Group.
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
    USZ 
 United States of America.
    AUZ  Australia.
</CN>
<XX>
Industries:-
</XX>

<IN>P6331 Fire, Marine, and Casualty Insurance.
</IN>
<XX>
Types:-
</XX>
<T
P>COMP  Disposals.
    COMP  Mergers & acquisitions.
</TP>
<PUB>The Financia
l Times </PUB>
<PAGE> London Page 30 </PAGE>
</DOC>

============= Transaction # 327 ==============================================
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<DOC>
<DOCNO>FT923-3956</DOCNO>
<PROFILE>_AN-CIIBPAEXFT</PROFILE>
<DATE>9209
09
</DATE>
<HEADLINE> FT  09 SEP 92 / World Stock Markets (America): Dow low
er as market reflects on jobs data </HEADLINE>
<BYLINE>    By PATRICK HARVER
SON </BYLINE>
<DATELINE>    NEW YORK </DATELINE>
<TEXT>
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.
</TEXT>
<PU
B>The Financial Times </PUB>
<PAGE> London Page 37 </PAGE>
</DOC>

============= Transaction # 328 ==============================================
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<DOC>
<DOCNO>FT924-7792</DOCNO>
<PROFILE>_AN-CKOAUAAHFT</PROFILE>
<DATE>9211
14
</DATE>
<HEADLINE> FT  14 NOV 92 / Strong US retail sales lift hopes </HE
ADLINE>
<BYLINE>    By GEORGE GRAHAM </BYLINE>
<DATELINE>    WASHINGTON </DA
TELINE>
<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Lon
don Page 2 </PAGE>
</DOC>

============= Transaction # 329 ==============================================
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<DOC>
<DOCNO>FT932-2033</DOCNO>
<PROFILE>_AN-DFUB2ADJFT</PROFILE>
<DATE>9306
21
</DATE>
<HEADLINE> FT  21 JUN 93 / Arts: Today's Television </HEADLINE>
<
BYLINE>    By CHRISTOPHER DUNKLEY </BYLINE>
<TEXT>
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).
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.

</CN>
<XX>
Industries:-
</XX>
<IN>P4832 Radio Broadcasting Stations.
    P48
33 Television Broadcasting Stations.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  Serv
ices & Services use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 15 </PAGE>
</DOC>

============= Transaction # 330 ==============================================
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<DOC>
<DOCNO>FT931-16394</DOCNO>
<PROFILE>_AN-DAGB2ABSFT</PROFILE>
<DATE>930
107
</DATE>
<HEADLINE> FT  07 JAN 93 / Losses grow for Lloyd's Names </HEADL
INE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
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.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Lloyds of London.
</CO>
<XX>
Coun
tries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN
>P63  Insurance Carriers.
    P6411  Insurance Agents, Brokers, and Service.

</IN>
<XX>
Types:-
</XX>
<TP>INS  Insurance losses.
    COMP  Company News.

    GOVT  Legal issues.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London
 Page 6 </PAGE>
</DOC>

============= Transaction # 331 ==============================================
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<DOC>
<DOCNO>FT923-786</DOCNO>
<PROFILE>_AN-CI0ADABQFT</PROFILE>
<DATE>92092
6
</DATE>
<HEADLINE> FT  26 SEP 92 / The Lex Column: US economy </HEADLINE>

<TEXT>
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.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London 
Page 24 </PAGE>
</DOC>