Voice of America, 97-10-03

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From: The Voice of America <gopher://gopher.voa.gov>

CONTENTS

[01] BULGARIA PROGRESS BY BARRY WOOD (WASHINGTON)

[02] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

[03] EUROPE-HUMAN RIGHTS (L-ONLY) BY JOHN FRASER (BRUSSELS)

[04] FRIDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

[05] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

[06] ITALY / QUAKE (L) BY PEGGY POLK (ROME)

[07] TURKEY / IRAQ (L-ONLY) BY KYLE KING (ANKARA)

[08] U-N WEEK-IN-REVIEW BY ELAINE JOHANSON (UNITED NATIONS)

[09] U-S-BOSNIA (L ONLY) BY RON PEMSTEIN (STATE DEPARTMENT)

[10] WALL STREET PREVIEW (S ONLY) BY BRECK ARDERY (NEW YORK)

[01] BULGARIA PROGRESS BY BARRY WOOD (WASHINGTON)

INTRO: LESS THAN SIX MONTHS AFTER A CONSERVATIVE GOVERNMENT TOOK OFFICE BULGARIA SEEMS TO BE MAKING A REMARKABLE RECOVERY FROM THE CHAOS AND SHORTAGES THAT THREATENED THE BALKAN COUNTRY WITH CIVIL WAR EARLY THIS YEAR. BUT V-O-A'S BARRY WOOD REPORTS DEEP PROBLEMS REMAIN AND BULGARIA HAS A LONG WAY TO GO.

TEXT: PENSIONERS HAVE BEEN DEMONSTRATING IN FRONT OF SOFIA'S ALEXANDER NEVSKY CATHEDRAL SAYING THEY CAN'T GET BY ON PAYMENTS AS LOW AS 19 DOLLARS PER MONTH. THEY COMPLAIN THAT EVEN THOUGH INFLATION HAS COME DOWN PRICE RISES CONTINUE TO ERODE THE VALUE OF THEIR MODEST GOVERNMENT PENSIONS.

BUT INTERNATIONAL ECONOMISTS SEE QUITE ANOTHER BULGARIA. THEY REFLECT ON THE RELATIVE COLLAPSE OF THE ECONOMY BACK IN MARCH AND SAY REMARKABLE PROGRESS HAS BEEN MADE IN A SHORT TIME. AN ECONOMIST AT GOLDMAN SACHS IN LONDON SAYS, IT IS STAGGERING--ALMOST UNPRECEDENTED-- WHAT THE BULGARIANS HAVE ACCOMPLISHED. NINE MONTHS AGO, SAY THE BANKERS, PENSIONS HAD FALLEN TO EIGHT DOLLARS A MONTH. WHOLE TOWNS HAD RUN OUT OF BREAD. FACTORIES WERE AT A HALT. THE CURRENCY WAS WORTHLESS. INFLATION--247 PERCENT IN FEBRUARY--WAS DOWN TO FIVE PERCENT (PER MONTH) IN AUGUST.

STEVE HANKE ADVISED THE BULGARIAN CONSERVATIVES IN SETTING UP A TIGHT MONETARY PROGRAM INTENDED TO KILL HYPER-INFLATION AND STABILIZE PUBLIC FINANCE. INTRODUCED JULY FIRST, THE CURRENCY BOARD SYSTEM HAS THUS FAR BEEN A GREAT SUCCESS. THE MONEY IS STABLE WITH THE LEVA PEGGED AT A FIXED RATE TO THE GERMAN MARK. BUT MR. HANKE WORRIES WHETHER THE GOVERNMENT IS STRONG ENOUGH TO TAKE THE NECESSARY NEXT STEPS IN POLICY REFORM. MR. HANKE SAYS THE BULGARIANS ARE BEING BOMBARDED WITH OFFERS OF LOANS AND POLICY ADVICE FROM INTERNATIONAL ORGANIZATIONS.

MY CONCERN LEVEL IS RISING DRAMATICALLY. BECAUSE OF ALL THIS OUTSIDE ADVICE AND THE BULGARIANS OBSESSION WITH GETTING THIS CONCESSIONAL OR OUTRIGHT AID MONEY. THERE IS ONLY ONE THING THAT COUNTS--PRIVATE DIRECT INVESTMENT. AND THE ONLY WAY TO GET PRIVATE DIRECT INVESTMENT IS TO DO THE RIGHT THINGS. AND THE BULGARIANS ARE ONLY GETTING A DRIBBLE OF PRIVATE DIRECT INVESTMENT. AND THAT WOULD SEEM TO INDICATE THAT MAYBE THEY ARE NOT DOING THE RIGHT THINGS.

MR. HANKE BELIEVES BULGARIA WILL BEGIN TO ATTRACT FOREIGN DIRECT INVESTMENT ONLY WHEN IT MAKES MUCH MORE PROGRESS IN THE SLOW MOVING PRIVATIZATION OF BIG STATE ENTERPRISES. IN ADDITION MR. HANKE BELIEVES A MUCH BIGGER EFFORT IS NEEDED TO ESTABLISH A SOUND INSTITUTIONAL BASE FOR A DEMOCRATIC FREE MARKET SOCIETY.

BECAUSE OF THE DISASTROUS SITUATION AT THE BEGINNING OF THIS YEAR THE BULGARIAN ECONOMY WILL PROBABLY REGISTER AT LEAST A SIX PERCENT DECLINE THIS YEAR. SOME BUT NOT MUCH GROWTH IS POSSIBLE IN 1998. BUT MULTI-LATERAL LENDERS ARE FOCUSING ON THE PROGRESS. IN APRIL BULGARIA OBTAINED A HALF BILLION DOLLAR LOAN FROM THE INTERNATIONAL MONETARY FUND. THE WORLD BANK IS NEGOTIATING AN 800 MILLION DOLLAR LOAN. AND MORE MONEY IS COMING FROM EUROPEAN INSTITUTIONS. BUT WHERE IS THE PRIVATE SECTOR INVESTMENT? THE BULGARIAN AUTHORITIES POINT TO THE UPCOMING SALE OF THE TELEPHONE COMPANY. THEY SAY THE SALE COULD BRING TWO BILLION DOLLARS INTO THE BULGARIAN TREASURY. OTHERS SAY THAT SALE IS A GOOD START BUT THAT MUCH, MUCH MORE WORK IS NEEDED.(SIGNED)
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03-Oct-97 4:50 PM EDT (2050 UTC)
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Source: Voice of America

[02] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

INTRO: STOCKS CLOSED HIGHER ON THE MAJOR EXCHANGES OF WESTERN EUROPE FRIDAY. FOR THE NUMBERS, HERE'S PAUL FRANCUCH IN LONDON.

TEXT: FRANKFURT'S STOCK MARKET WAS CLOSED FOR THE GERMAN REUNIFICATION DAY HOLIDAY, BUT MARKETS HERE IN LONDON AND IN PARIS JOINED IN THE BUYING SPREE, WHICH GOT WALL STREET OFF TO A GALLOPING START EARLY IN THE DAY. THE KEY "FINANCIAL TIMES" 100 INDEX OF STOCKS HERE IN LONDON POSTED A 35 POINT GAIN AT THE CLOSE -- SETTING ANOTHER RECORD HIGH IN THE PROCESS. MEANWHILE, THE PARIS "CAC 40" INDEX OF FRENCH STOCKS ADDED ALMOST 42 POINTS WHEN TRADING ENDED, BRINGING THAT MARKET TO A RECORD HIGH STANDING AS WELL.

IN CURRENCY TRADING HERE IN EUROPE, THE U-S DOLLAR LOST A PFENNIG-AND-A-HALF AGAINST THE GERMAN MARK, BUT REMAINED STEADY AGAINST THE BRITISH POUND.

GOLD MOVED UPWARD AGAIN FRIDAY, ADDING 70 CENTS IN THE LONDON CLOSING FIX WHERE IT WAS PRICED AT 333-DOLLARS-45 CENTS AN OUNCE. (SIGNED)
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03-Oct-97 2:30 PM EDT (1830 UTC)
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Source: Voice of America

[03] EUROPE-HUMAN RIGHTS (L-ONLY) BY JOHN FRASER (BRUSSELS)

INTRO: LEADERS FROM 40 EUROPEAN NATIONS ARE DUE TO AGREE NEXT WEEK TO ESTABLISH AN OMBUDSMAN OFFICE TO DEAL WITH HUMAN RIGHTS COMPLAINTS. THE ISSUE IS AN AGENDA ITEM FOR THE COUNCIL OF EUROPE SUMMIT IN STRASBOURG, WHICH WILL BRING TOGETHER LEADERS FROM WESTERN AND EASTERN EUROPE. DETAILS FROM JOHN FRASER REPORTS IN BRUSSELS:

TEXT: THE EUROPEAN HUMAN RIGHTS COURT IS THE MOST PROMINENT AND THE MOST EFFECTIVE PART OF THE COUNCIL OF EUROPE. ITS PROCEDURES ARE DUE TO BE REFORMED NEXT YEAR, TO CUT THE FOUR AND A HALF YEARS THAT THE AVERAGE CASE TAKES TO REACH A CONCLUSION.

ONE CONSEQUENCE IS THAT THE HUMAN RIGHTS AUTHORITIES WILL BE MORE RIGOROUS IN CONSIDERING APPLICATIONS TO THE COURT.

IN ORDER TO PLUG THE GAP, IT HAS BEEN DECIDED THAT THERE WILL BE A EUROPEAN HUMAN RIGHTS OMBUDSMAN, WHO MAY BE GIVEN THE TITLE OF HUMAN RIGHTS COMMISSIONER. HIS OR HER JOB WILL BE TO DEAL WITH CASES WHICH DO NOT REACH THE FULL HUMAN RIGHTS COURT, FOR ONE REASON OR ANOTHER. EXACT DETAILS STILL HAVE TO BE WORKED OUT, BUT IT IS EXPECTED THAT THE 40 COUNCIL OF EUROPE HEADS OF GOVERNMENT WILL AGREE ON THE PRINCIPLE.

THEY ARE ALSO DUE TO ADOPT A COMMUNIQUE ON THE ABOLITION OF THE DEATH PENALTY, WILL STRENGTHEN COOPERATION IN THE FIGHT AGAINST DRUGS AND THE EXPLOITATION OF CHILDREN, AND THE FIGHT AGAINST CORRUPTION.

OFFICIALS SAY ONE THING THE COUNCIL OF EUROPE CAN REJOICE ABOUT IS THAT IT NO LONGER FACES THE PROBLEMS OF ITS SISTER ORGANIZATIONS OF NATO AND THE EUROPEAN UNION, WHICH ARE CURRENTLY AGONIZING OVER THE DIFFICULTIES OF EXPANDING INTO EASTERN EUROPE,

THE COUNCIL OF EUROPE HAS ALREADY GONE ALONG THAT ROUTE, AND IN THE PROCESS IT HAS BROUGHT FRESH HOPE TO THOSE CAMPAIGNING FOR HUMAN RIGHTS AND EQUALITY FOR ALL THOSE COUNTRIES WHICH WERE ONCE DIVIDED FROM THE FREE WORLD BY THE IRON CURTAIN. (SIGNED)
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03-Oct-97 10:30 AM EDT (1430 UTC)
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Source: Voice of America

[04] FRIDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

INTRO: U-S REACTION TO A FRENCH / IRANIAN NATURAL GAS DEAL, AND THE POSSIBLE IMPOSITION OF AN ANTI-TERRORISM LAW INVOLVING SANCTIONS, CONTINUES TO HOLD A HIGH PLACE IN U-S EDITORIAL COLUMNS. OTHER SUBJECTS UNDER DISCUSSION INCLUDE THE PROMISE KEEPERS CHRISTIAN MEN'S MARCH ON WASHINGTON TOMORROW (SATURDAY); THE ISRAELI SECRET SERVICE'S ALLEGED BOTCHED ASSASSINATION ATTEMPT OF A PALESTINIAN LEADER; THE ISSUE OF SELLING NUCLEAR REACTORS TO CHINA; AND MISSING RUSSIAN SUITCASE NUCLEAR BOMBS.

NOW, HERE IS _____________ WITH A CLOSER LOOK AT THOSE AND OTHER STORIES ON TODAY'S U-S EDITORIAL DIGEST.

TEXT: THE DEAL BY THE FRENCH ENERGY COMPANY TOTAL TO SPEND TWO-BILLION DOLLARS ON IRANIAN NATURAL GAS DRAWS CONFLICTING COMMENT FROM AT LEAST TWO PAPERS. FIRST, IN SUPPORT OF SANCTIONS, THE PORTLAND [MAINE] PRESS HERALD.

VOICE: "EMBARGOES AND ECONOMIC SANCTIONS CAN BECOME AN UNNEEDED CRUTCH FOR U-S FOREIGN POLICY IF THEY'RE OVERUSED. STILL, THEY DO HAVE A PLACE IN AMERICA'S DEALINGS ABROAD AND IRAN REPRESENTS ONE SUCH INSTANCE. IRAN HAS SPONSORED TERRORISM AROUND THE WORLD, EARNING ITS PLACE BESIDE LIBYA AS AN OUTLAW NATION DESERVING OF CONDEMNATION.... NOW, ALONG COMES THE FRENCH COMPANY, TOTAL, AND ITS PLAN TO DEVELOP IRANIAN NATURAL GAS FIELDS. U-S SECRETARY OF STATE MADELEINE ALBRIGHT HAS RIGHTLY EXPRESSED EXASPERATION AT THE FRENCH.... THE UNITED STATES, INDEED THE WORLD, HAS THE RESPONSIBILITY TO DO ALL IT CAN TO REIN IN TERRORISM."

TEXT: THE PHILADELPHIA INQUIRER TAKES THE OTHER SIDE, CALLING SANCTIONS "ARROGANT" AND ADDING:

VOICE: ".... THIS MUCH IS CLEAR: AMERICA SHOULD NOT GET INTO A WAR OF ECONOMIC SANCTIONS WITH FRANCE AND RUSSIA OVER DIFFERENCES IN IRAN POLICIES. YET THAT MAY BE WHERE THE UNITED STATES IS HEADING.... IF WASHINGTON TRIES TO PENALIZE [THE FRENCH ENERGY COMPANY] TOTAL, THE EUROPEAN UNION WILL CHALLENGE AMERICA IN THE WORLD TRADE ORGANIZATION. SUCH LAWS MAKE A MOCKERY OF AMERICA'S CRUSADE FOR FREE TRADE, AND COULD UNDERMINE THE WTO.... SECONDARY BOYCOTTS ARE WRONG NOT ONLY IN PRINCIPLE, BUT IN PRACTICE."

TEXT: DOMESTICALLY, WASHINGTON IS BRACING FOR A FRIENDLY INVASION OF HUNDREDS OF THOUSANDS OF CHRISTIAN MEN SATURDAY, FOR A RALLY OF THE ORGANIZATION PROMISE KEEPERS. THE GROUP, WHICH ESPOUSES A RETURN TO BIBLICAL VALUES FOR MEN, HAS BECOME CONTROVERSIAL, WITH SOME WOMEN'S ORGANIZATIONS PERCEIVING IT AS A THREAT TO WOMEN'S RIGHTS. TODAY'S CHRISTIAN SCIENCE MONITOR TALKS ABOUT THE GROUP'S GOALS, OF SUPPORTING WIVES AND CHILDREN AND BUILDING RACIAL HARMONY, WHICH IT SAYS CAN NOT BE FAULTED, DESPITE ITS CRITICS.

VOICE: "..... THE CRUCIAL ISSUE IS [THE] CHANGES ACTUALLY WROUGHT IN THE LIVES OF THE MANY INDIVIDUALS THE GROUP REACHES. PROMISE KEEPERS MINISTERS TO MEN'S DESIRES TO BE CONSTRUCTIVE MEMBERS OF THEIR FAMILIES AND COMMUNITIES.... MEN HAVE FILLED STADIUMS TO PROCLAIM THEIR COMMITMENT TO SUPPORT WIVES, ... HELP NURTURE CHILDREN, AND, OF LATE, TO HELP BUILD RACIAL HARMONY. THESE GOALS CAN'T BE FAULTED..... THE COUNTRY NEEDS ALL OF THAT ... AWARENESS ... IT CAN GET IN THE LATE 20TH CENTURY."

TEXT: THE NEW YORK POST ALSO LAUDS THE GROUP, AND CHIDES ONE ITS BIGGEST CRITICS, THE NATIONAL ORGANIZATION FOR WOMEN [NOW].

VOICE: "ALONG WITH THE SEX, DRUGS AND ROCK 'N' ROLL OF THE LAST THREE DECADES HAS COME A SURFEIT OF ILLEGITIMACY, DIVORCE AND CHILD ABUSE.... THE FACT THAT NOW (NATIONAL ORGANIZATION OF WOMEN, A FEMINIST GROUP) FEELS THREATENED BY AN ORGANIZATION THAT URGES MEN TO BE FAITHFUL TO AND SUPPORT THEIR WIVES SAYS MORE ABOUT NOW THAN IT DOES ABOUT THE PROMISE KEEPERS.... WE SUSPECT THAT THEIR CORE MESSAGE -- A CELEBRATION OF PERSONAL RESPONSIBILITY -- WILL RESONATE IN A MORALLY TROUBLED NATION. THIS CAN ONLY BE TO THE GOOD."

TEXT: THE SUPER-SECRET ISRAELI AGENCY MOSSAD HAS ALLEGEDLY HAD AN ASSASSINATION ATTEMPT IN AMMAN, JORDAN, GO TERRIBLY WRONG, AND TODAY'S BOSTON GLOBE, HEADLINING ITS COMMENTARY: "A MIDEAST TRAGEDY OF ERRORS" SAYS:

VOICE: "THE BOTCHED ASSASSINATION THAT LED TO A REPORTED DEAL BETWEEN ISRAEL'S PRIME MINISTER BENJAMIN NETANYAHU AND KING HUSSEIN OF JORDAN FOR THE RELEASE OF SHEIK AHMED YASSIN, THE FOUNDER OF HAMAS, HAS THE MARKINGS OF A CERTAIN KIND OF BLUNDER -- THE KIND THAT HAPPENS WHEN A DEMOCRATIC GOVERNMENT TRIES TO CONDUCT POLICY WITH MAFIA TACTICS.... THE CONSEQUENCES OF WHAT THE ISRAELI MEDIA ARE CALLING A BUNGLED MOSSAD OPERATION COULD BE THE STUFF OF A SCREWBALL COMEDY IF THEY DID NOT THREATEN SO MANY PEOPLE IN THE MIDEAST.... IT IS A TALE OF INCOMPETENCE AND BAD FAITH -- NOT THE WAY FOR A DEMOCRATIC STATE TO COMBAT TERRORIST FANATICS."

TEXT: ACROSS THE WORLD, THE EROSION OF DEMOCRACY IN HONG KONG DRAWS THE ATTENTION OF TODAY'S WASHINGTON POST, WHICH CASTIGATES BEIJING FOR THE LATEST RESTRICTIVE ELECTION LAW PASSED THIS PAST SUNDAY.

VOICE: "WHEN CHINA ASSUMED SOVEREIGNTY OVER HONG KONG'S SIX MILLION PEOPLE, IT PROMISED TO LEAVE THEM MORE OR LESS ALONE IN THEIR ISLAND OF CAPITALISM UNDER A FORMULA DUBBED 'ONE COUNTRY, TWO SYSTEMS.'.... THE NEW LAW IS COMPLEX, BUT ITS GIST IS SIMPLE: IT WILL ENSURE THAT FORCES FRIENDLY TO BEIJING RETAIN CONTROL. PRO-DEMOCRACY FORCES ... WILL BE UNABLE TO EXERT INFLUENCE COMMENSURATE WITH THEIR POPULAR SUPPORT.... TO THE EXTENT HONG KONG NOW MOVES BACKWARD ON DEMOCRACY, THESE CHARACTERISTICS ARE THREATENED, AND SO IS HONG KONG'S SPECIAL MAGIC -- AND THE U-S STAKE THERE."

TEXT: IN OTHER SINO-U-S RELATIONS, THE NEW YORK TIMES SAYS TODAY IT IS "TOO SOON TO SELL [NUCLEAR] REACTORS TO CHINA," ADDING:

VOICE: "OF ALL THE NUCLEAR POWERS, CHINA HAS BEEN THE MOST RECKLESS IN EXPORTING TECHNOLOGY AND MATERIALS THAT OTHER COUNTRIES CAN USE TO DEVELOP THEIR OWN BOMBS..... THAT SHOULD BE REASON ENOUGH TO MAINTAIN RESTRICTIONS ON EXPORTING CIVILIAN NUCLEAR REACTOR TECHNOLOGY TO CHINA. YET THERE IS STRONG SUPPORT WITHIN THE ADMINISTRATION FOR LIFTING THOSE CONTROLS IN TIME FOR THE VISIT OF JIANG ZEMIN, CHINA'S PRESIDENT, TO WASHINGTON THIS MONTH. PRESIDENT CLINTON SHOULD RESIST THE PLEAS, ... [KEEPING] CURRENT RESTRICTIONS IN PLACE UNTIL CHINA SHOWS RESPONSIBILITY ON ITS OWN NUCLEAR EXPORTS."

TEXT: SPEAKING OF NUCLEAR THREATS, THERE WAS TESTIMONY IN THE U-S SENATE THIS WEEK FROM A RESPECTED RUSSIAN SCIENTIST THAT RUSSIA DEVELOPED SO-CALLED "SUITCASE" NUCLEAR BOMBS -- SMALL ENOUGH TO BE CARRIED AS A SUITCASE -- DURING THE COLD WAR, AND THAT SOME OF THEM MAY NOW BE MISSING, POSSIBLY IN THE HANDS OF TERRORISTS. THAT THOUGHT CONCERNS THE WASHINGTON TIMES:

VOICE: "THE IMPORTANT QUESTION NOW IS: WHERE ARE THE SUITCASE BOMBS? RUSSIAN NUCLEAR ACCOUNTING PROCEDURES ARE PROBLEMATIC TO SAY THE LEAST.... IT IS CLEAR ... WE SHALL HAVE TO PRESS THE RUSSIAN GOVERNMENT ON THE EXISTENCE AND WHEREABOUTS OF THESE DEVICES."

TEXT: LASTLY, ON PRESIDENT CLINTON'S PLAN TO SEND INSPECTORS ABROAD TO TRY TO IMPROVE THE SAFETY OF IMPORTED FRUITS AND VEGETABLES, THE NEW YORK TIMES CALLS IT A SENSIBLE EFFORT.

VOICE: ".... RECENT INCIDENTS OF ILLNESS CAUSED BY TAINTED GUATEMALAN RASPBERRIES AND E. COLI-CONTAMINATED DOMESTIC MEAT AND FRUIT JUICES HAVE MADE FOOD SAFETY A PUBLIC CONCERN.... EVEN AS FOOD IMPORTS HAVE DOUBLED SINCE THE 1980'S, FEDERAL HEALTH INSPECTIONS OF IMPORTS HAVE BEEN CUT IN HALF. SINCE THE FOOD AND DRUG ADMINISTRATION SAMPLES LESS THAN ONE PERCENT OF FOOD IMPORTS AT THE DOCKS, TAINTED FOOD CAN EASILY REACH CONSUMERS UNDETECTED."

TEXT: THAT CONCLUDES THIS BRIEF SAMPLING OF EDITORIALS FROM TODAY'S U-S PRESS. NEB/ANG/ MMK
03-Oct-97 11:26 AM EDT (1526 UTC)
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Source: Voice of America

[05] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

INTRO: STOCK PRICES IN THE UNITED STATES WERE UP TODAY (FRIDAY) IN ERRATIC TRADING. V-O-A'S CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT EIGHT THOUSAND 38, UP 11 POINTS. FOR THE WEEK, THE INDUSTRIAL AVERAGE GAINED 116 POINTS. THE STANDARD AND POOR'S 500 INDEX CLOSED FRIDAY AT 965, UP FOUR AND ONE-HALF POINTS.

STOCK PRICES SOARED AT THE START OF TRADING BECAUSE OF THE LATEST U-S EMPLOYMENT REPORT. THE JOBLESS RATE REMAINED UNCHANGED AT FOUR POINT NINE PERCENT BUT THE NUMBER OF NEW JOBS CREATED WAS LOWER THAN ANALYSTS HAD EXPECTED. TO WALL STREET, THAT MEANT THE RATE OF U-S ECONOMIC GROWTH MAY BE SLOWING AND THE THREAT OF INFLATION REMAINS MINIMAL.

LATER IN THE TRADING DAY, CONCERNS DEVELOPED OVER THE TENSIONS BETWEEN IRAN AND IRAQ AND WHAT THAT MIGHT MEAN FOR OIL PRICES. STOCKS DROPPED SHARPLY BEFORE RECOVERING LATE IN THE DAY.

GENERAL MOTORS REPORTED AN ALMOST FOUR PERCENT RISE IN AUTO AND LIGHT TRUCK SALES LAST MONTH. HOWEVER, FORD, THE NUMBER TWO AUTO MAKER IN THE UNITED STATES, SUFFERED A ONE AND ONE-HALF PERCENT SALES DECLINE LAST MONTH. FORD SAYS RECORD DEMAND FOR ITS LIGHT TRUCKS AND SPORTS UTILITY VEHICLES WAS NOT ENOUGH TO OVERCOME A STEEP DROP IN DEMAND FOR FORD CARS.

THE BOEING AIRCRAFT COMPANY SAYS IT WILL HAVE TO CURTAIL PRODUCTION BECAUSE OF A SHORTAGE OF PARTS. BOEING, WHICH HAS SEEN ITS PRODUCTION RATE DOUBLE IN THE PAST YEAR, ALSO SAYS IT WILL COMPLETELY SHUT DOWN PRODUCTION OF THE 747 JUMBO JET FOR THE NEXT 20 DAYS. ROCHE, THE SWISS-BASED DRUG COMPANY, SAYS INITIAL TESTS SHOW ITS NEW ANTI-INFLUENZA DRUG IS QUITE EFFECTIVE. CURRENTLY THERE ARE VACCINES WHICH MAY PREVENT THE FLU BUT NO REAL TREATMENT FOR IT. THE POTENTIAL MARKET FOR AN EFFECTIVE TREATMENT IS HUGE. AN ESTIMATED 120 MILLION WORLDWIDE PEOPLE ARE INFECTED WITH AN INFLUENZA VIRUS EACH YEAR.(SIGNED) NEB/NY/BA/LSF/PT
03-Oct-97 5:21 PM EDT (2121 UTC)
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Source: Voice of America

[06] ITALY / QUAKE (L) BY PEGGY POLK (ROME)

INTRO: MORE EARTHQUAKES HAVE HIT CENTRAL ITALY. PEGGY POLK IN ROME REPORTS THE QUAKES INJURED AT LEAST FOUR PEOPLE AND CAUSED NEW DAMAGE TO THE FAMED BASILICA OF ST. FRANCIS OF ASSISI AND OTHER MEDIEVAL LANDMARKS.

TEXT: THE NEW TREMORS CAME JUST ONE WEEK AFTER TWO SHOCKS THAT KILLED 11 PEOPLE AND CAUSED SERIOUS DAMAGE TO THE BASILICA OF ST. FRANCIS OF ASSISI -- ONE OF ITALY'S MOST IMPORTANT CHURCHES.

ITALIAN MINISTER OF CULTURE WALTER VELTRONI -- WHO WAS TOURING THE REGION -- SAID AUTHORITIES WERE ATTEMPTING TO ASSESS THE NEW DAMAGE TO THE 13TH CENTURY BASILICA WHERE ST. FRANCIS OF ASSISI IS BURIED. THERE WERE REPORTS OF BRICKS FALLING AND A CLOUD OF DUST BLOWING OUT OF THE MAIN DOORS.

THE ITALIAN NATIONAL GEOPHYSICAL INSTITUTE SAID THE FIRST AND STRONGEST OF THE NEW SERIES OF TREMORS MEASURED FIVE-POINT-ONE ON THE RICHTER SCALE. ITS CENTER WAS IN THE SMALL UMBRIAN TOWN OF COL FIORITO -- 10 KILOMETERS FROM THE CENTER OF LAST WEEK'S STRONGER QUAKES, WHICH MEASURED FIVE-POINT-FIVE AND FIVE-POINT SIX.

THE SECOND OF THE EARLIER QUAKES SENT TWO SECTIONS OF THE VAULTED CEILING OF THE BASILICA OF ST. FRANCIS CRASHING TO THE FLOOR. FOUR PEOPLE DIED UNDER THE RUBBLE OF FRESCOES ATTRIBUTED TO CIMABUE AND THE SCHOOL OF GIOTTO.

THE EARLIER QUAKES ALSO DESTROYED ABOUT 15-HUNDRED BUILDINGS -- BOTH IN UMBRIA, A REGION KNOWN FOR ITS WELL-PRESERVED MEDIEVAL HILL TOWNS, AND IN THE NEIGHBORING MARCHES. THOUSANDS OF PEOPLE ARE STILL SLEEPING IN TENTS, TRAILERS. OR CARS.

THE NEW SHOCKS SLIGHTLY DAMAGED PERUGIA'S GOTHIC PALAZZO DEI PRIORI AND LEFT THE BELL TOWER ON THE TOWN HALL IN THE PICTURESQUE TOWN OF FOLIGNO SO BADLY WEAKENED THAT FIREMEN WERE PREPARING TO PULL IT DOWN.

AUTHORITIES CLOSED SCHOOLS IN ASSISI, EVACUATED THE HOSPITAL, AND REROUTED TRAINS AROUND THE REGION. (SIGNED)
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03-Oct-97 10:09 AM EDT (1409 UTC)
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Source: Voice of America

[07] TURKEY / IRAQ (L-ONLY) BY KYLE KING (ANKARA)

INTRO: SYRIA AND IRAN ARE REPORTED TO BE MOVING TROOPS TO THE BORDER WITH NORTHERN IRAQ, NEAR AN AREA WHERE TURKISH FORCES HAVE BEEN ENGAGED IN AN OFFENSIVE THE PAST TWO WEEKS AGAINST KURDISH REBELS. FROM ANKARA, V-O-A'S KYLE KING REPORTS.

TEXT: THE SEMI-OFFICIAL ANATOLIAN NEWS AGENCY SAYS THE SYRIAN AND IRANIAN DEPLOYMENTS APPEAR TO BE IN RESPONSE TO TURKEY'S LATEST CROSS BORDER MILITARY OPERATIONS IN NORTHERN IRAQ. THOSE OPERATIONS, WHICH BEGAN ABOUT TWO WEEKS AGO, ARE BELIEVED TO INVOLVE AROUND 15-THOUSAND TURKISH TROOPS, BACKED BY ARTILLERY, HELICOPTERS AND F-16 JETS.

A LONDON-BASED IRAQI OPPOSITION GROUP, THE "IRAQI NATIONAL CONGRESS," SAYS SYRIA HAS NOW MOVED AN ARMORED DIVISION TO WITHIN 30 KILOMETERS OF THE IRAQI BORDER.

THE ANATOLIAN NEWS AGENCY QUOTES A SPOKESMAN FOR THE GROUP AS SAYING IRAN HAS ALSO MOVED MORE TROOPS TOWARD ITS BORDER WITH IRAQ. HOWEVER, THERE IS NO CONFIRMATION OF THE DEPLOYMENTS OR HOW MANY TROOPS MAY BE INVOLVED.

BOTH IRAN AND SYRIA HAVE CONDEMNED THE LATEST TURKISH OFFENSIVE IN NORTHERN IRAQ.

TURKEY SAYS ITS TROOPS HAVE KILLED DOZENS OF REBEL FIGHTERS FROM THE KURDISTAN WORKERS PARTY OR "P-K-K," AND CAPTURED A KEY REBEL BASE CALLED CAMP ZAB. TURKEY SAYS P-K-K REBELS FIGHTING FOR AN INDEPENDENT STATE HAVE BEEN USING NORTHERN IRAQ AS A BASE FOR RAIDS INTO TURKEY. MORE THAN 26-THOUSAND PEOPLE HAVE DIED IN THE LONG RUNNING CONFLICT. (SIGNED)
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03-Oct-97 10:13 AM EDT (1413 UTC)
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Source: Voice of America

[08] U-N WEEK-IN-REVIEW BY ELAINE JOHANSON (UNITED NATIONS)

INTRO: UNITED NATIONS SECRETARY-GENERAL KOFI ANNAN PULLS HUMAN RIGHTS INVESTIGATORS OUT OF CONGO/KINSHASA FOR CONSULTATIONS IN NEW YORK AS A STAND-OFF CONTINUES WITH THE KABILA GOVERNMENT; SIERRA LEONE'S OUSTED PRESIDENT ADDRESSES THE NEW SESSION OF THE GENERAL ASSEMBLY AND WARNS NEGOTIATIONS WITH THE COUP-MAKERS HAVE LITTLE CHANCE OF SUCCESS; AND, CAMBODIA'S POLITICAL RIVALS -- DENIED THE RIGHT TO PARTICIPATE IN THE GENERAL ASSEMBLY -- DECIDE TO VISIT NEW YORK ANYWAY. V-O-A'S CORRESPONDENT ELAINE JOHANSON REVIEWS THE MAIN DEVELOPMENTS OF THE PAST WEEK:

TEXT: A HUMAN RIGHTS TEAM HAS BEEN STALLED IN KINSHASA FOR OVER A MONTH. IT REPORTED TO NEW YORK THAT THE KABILA GOVERNMENT HAS RAISED MANY OBSTACLES TO ITS INVESTIGATION OF THE MASSACRE OF THOUSANDS OF RWANDAN REFUGEES SINCE LAST YEAR.

CONGOLESE FOREIGN MINISTER BIZIMA KARAHA -- IN NEW YORK TO ATTEND THE GENERAL ASSEMBLY -- TOLD REPORTERS HIS GOVERNMENT HAS NO OBJECTION TO THE U-N PROBE. AND HE FEELS REPORTS OF A STALEMATE ARE GREATLY EXAGGERATED:

WE DO NOT HAVE A PROBLEM WITH THE U-N AS SOME OF THE PEOPLE TEND TO SAY...AND WE ARE NOT INTENDING TO HAVE A PROBLEM WITH THE U-N.

U-N OFFICIALS HAVE A DIFFERENT VIEW. SECRETARY-GENERAL KOFI ANNAN DECIDED TO RECALL FOUR TOP INVESTIGATORS FROM KINSHASA. SPOKESMAN FRED ECKHARD SAYS THE DEADLOCK HAS GONE ON FOR TOO LONG:

THE TEAM HAS BEEN IN KINSHASA FOR WELL OVER A MONTH. IT'S BEEN UNABLE TO CARRY OUT ITS MANDATE. AND WE FEEL IT'S TIME TO PULL THEM BACK FOR CONSULTATIONS.

ONE OF THE PROBLEMS -- WHICH FOREIGN MINISTER KARAHA CONCEDED -- IS WHERE TO START THE INVESTIGATION. THE HUMAN RIGHTS TEAM WANTS TO GO FIRST TO MBANDAKA, NEAR KINSHASA, WHICH IS THE LAST TOWN MANY REFUGEES STOPPED IN BEFORE CROSSING OVER INTO CONGO/BRAZZAVILLE. THE KABILA GOVERNMENT IS OPPOSED. U-N OFFICIALS BELIEVE THEY WOULD FIND UNTAMPERED EVIDENCE THERE. THEY FEAR THE KABILA FORCES HAVE ALREADY CLEANED UP PARTS OF THE EAST WHERE THE REFUGEES LIVED FOR TWO YEARS.

AND SO IT GOES. U-N OFFICIALS HOPE FOR A BREAKTHROUGH IN THE NEXT TWO WEEKS. MEANWHILE, FOREIGN MINISTER KARAHA CALLED FOR AN URGENT MEETING OF THE SECURITY COUNCIL ON THE WAR IN CONGO/BRAZZAVILLE AND THE CROSS-BORDER SHELLING. THE FORMER ZAIRE HAS THREATENED TO RETALIATE FOR WHAT IT CALLS DELIBERATE TARGETING.

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ELSEWHERE IN AFRICA, THE STALEMATE CONTINUES OVER THE OUSTER OF SIERRA LEONE'S ELECTED PRESIDENT LAST MAY. NIGERIA -- LEADING A GROUP OF WEST AFRICAN MEDIATORS -- HAS CALLED FOR NEW NEGOTIATIONS WITH THE JUNTA. BUT PRESIDENT TEJAN KABBAH -- IN A SPEECH TO THE GENERAL ASSEMBLY -- SAID THE COUP-MAKERS ARE PULLING IN DIFFERENT DIRECTIONS, WITH DIVIDED LOYALTIES, AND THE STRONGEST PART OF THE JUNTA IS DETERMINED TO STAY IN POWER:

THE DECISION OF ONE PART OF THE UNSTABLE COALITION WILL NOT BIND THE OTHER. INDEED PRECISELY BECAUSE THEY HAVE SEPARATE AND QUITE POSSIBLY CONFLICTING OBJECTIVES THERE IS HARDLY ANY PROSPECT OF NEGOTIATING WITH ANYTHING LIKE A UNIFIED POSITION.

BUT THE INTERNATIONAL COMMUNITY IS DEMANDING A POLITICAL SOLUTION. THE SECURITY COUNCIL IS CONSIDERING SANCTIONS ON THE JUNTA TO PUT ADDITIONAL PRESSURE. THE WEST AFRICANS HAVE ALREADY IMPOSED AN ECONOMIC BLOCKADE ON SIERRA LEONE.

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CAMBODIAN POLITICS PLAYED ITSELF OUT A BIT AT THE UNITED NATIONS THIS PAST WEEK AS OUSTED PRINCE NORODOM RANARIDDH AND HIS CO-PREMIER MR. HUN SEN PAID SEPARATE VISITS TO THE SECRETARY-GENERAL. MR. HUN SEN THREATENED TO EXCLUDE THE U-N FROM PLAYING A ROLE IN NEXT YEAR'S ELECTIONS IF HE IS KEPT OUT OF CAMBODIA'S U-N SEAT.

THE GENERAL ASSEMBLY DECIDED TO LEAVE THE SEAT VACANT UNTIL THE POWER STRUGGLE WORKS ITSELF OUT IN A DEMOCRATIC FASHION. PRINCE RANARIDDH AND MR. HUN SEN BOTH CLAIM IT.

PRINCE RANARIDDH TOLD REPORTERS HE IS WILLING TO MEET WITH HIS RIVAL WHILE IN NEW YORK. MR. HUN SEN SAID UNDER NO CIRCUMSTANCES BUT INVITED PRINCE RANARIDDH TO COME BACK TO CAMBODIA FOR THE ELECTIONS. BUT AT THE SAME TIME, HE SAID HE COULD NOT GUARANTEE THE PRINCE FREEDOM FROM PROSECUTION ON A VARIETY OF CHARGES, INCLUDING GUN SMUGGLING. (SIGNED)
NEB/PT
03-Oct-97 5:36 PM EDT (2136 UTC)
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Source: Voice of America

[09] U-S-BOSNIA (L ONLY) BY RON PEMSTEIN (STATE DEPARTMENT)

INTRO: THE UNITED STATES IS DENYING THE PUBLISHED CLAIM BY NATO OFFICIALS THAT THE BOSNIAN GOVERNMENT IS MOUNTING A CLANDESTINE PROGRAM TO ARM ITSELF IN PREPARATION FOR RENEWED WARFARE. V-O-A'S CORRESPONDENT RON PEMSTEIN REPORTS FROM THE STATE DEPARTMENT, AMERICAN OFFICIALS ARE LOOKING AT THE SAME EVIDENCE AND REACHING DIFFERENT CONCLUSIONS.

TEXT: AN EGYPTIAN FREIGHTER LOADED WITH 10 T-55 TANKS IN THE CROATIAN PORT OF PLOCE IS RAISING THE QUESTION OF WHETHER THE MUSLIM CROAT ARMY IN BOSNIA MAY BE PREPARING FOR NEW WARFARE WITH THE SERBS.

NATO OFFICIALS ARE NOT LETTING THE SHIP UNLOAD. THE STATE DEPARTMENT EXPLAINS THE HOLDUP IN DELIVERY AS A PROCEDURAL PROBLEM THAT WILL BE RESOLVED SHORTLY.

STATE DEPARTMENT SPOKESMAN JAMES RUBIN CONTENDS THE EGYPTIAN FREIGHTER'S LOAD OF TANKS IS ONLY PART OF THE U-S LED PROGRAM TO ARM AND EQUIP THE MUSLIM-CROAT ARMY. HE SAYS THE BOSNIAN GOVERNMENT HAS NO NEED TO SEEK SECRET ARMS SHIPMENTS.

FRANKLY IT WOULD BE STUPID IN THE EXTREME FOR THE BOSNIAN GOVERNMENT TO SLAY THE GOOSE THAT'S LAYING THE GOLDEN EGG. WE ARE PROVIDING THE BOSNIAN GOVERNMENT WITH SUBSTANTIAL AMOUNTS OF EQUIPMENT. WE'VE BEEN ASSISTING THE FEDERATION IN TRAINING AND EQUIPPING ITS MILITARY FORCES FOR 14 MONTHS. TWELVE OTHER COUNTRIES ARE INVOLVED IN THIS PROGRAM.

THE STATE DEPARTMENT SPOKESMAN ACCUSES THE EUROPEAN NATO OFFICIALS QUOTED IN THE NEW YORK TIMES AS BEING BIASED AGAINST THE AMERICAN TRAIN AND EQUIP PROGRAM FOR BOSNIA. HE CHALLENGES THE OTHER ASSERTION THAT THE BOSNIAN GOVERNMENT IS NOW STRONG ENOUGH TO OVERWHELM BOSNIAN SERB FORCES IN ANY FUTURE WARFARE.

THE BOSNIAN SERB ARMY RETAINS MANY OF THE ADVANTAGES IT HELD DURING THE WAR DESPITE RECENT PRESS REPORTS THAT IT MAY BE WEAKENING. THEY INCLUDE NUMERICAL ADVANTAGES IN HEAVY WEAPONS, INCLUDING TANKS, ARTILLERY, COMBAT AIRCRAFT. THEY ALSO HAVE A SIGNIFICANT STRATEGIC ADVANTAGE THROUGH THEIR CONTINUED CLOSE MILITARY RELATIONSHIP WITH THE FORMER REPUBLIC OF YUGOSLAVIA.

THE UNITED STATES STILL BELIEVES THE SERBS ADVANTAGE STILL MUST BE OFFSET BUT THE STATE DEPARTMENT SAYS IT HAS NO CONFIRMED EVIDENCE THAT THE MUSLIM-CROAT ARMY IS BEING SECRETLY ARMED.

THE STATE DEPARTMENT'S BOSNIA NEGOTIATOR ROBERT GELBARD HAS MET WITH CROATIAN PRESIDENT FRANJO TUDJMAN TO DISCUSS EFFORTS TO GET SEVEN BOSNIAN CROATS INDICTED BY THE WAR CRIMES TRIBUNAL TO TURN THEMSELVES IN.

AMBASSADOR GELBARD BRIEFED THE CROATIAN LEADER ON THE TRIBUNAL'S PROMISE TO ALLOW SPEEDY TRIALS--WITHIN THREE TO FIVE MONTHS--FOR ANY ACCUSED WAR CRIMINAL WHO VOLUNTARILY AGREES TO TURN THEMSELVES IN. THE STATE DEPARTMENT IS HOPEFUL THIS OFFER WILL ENCOURAGE CROATIA TO USE ITS LEVERAGE TO GET THE INDICTED BOSNIAN CROATS TO THE HAGUE. (SIGNED)
NEB/RP/GKT/PT
03-Oct-97 3:23 PM EDT (1923 UTC)
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Source: Voice of America

[10] WALL STREET PREVIEW (S ONLY) BY BRECK ARDERY (NEW YORK)

INTRO: BARRING UNFORESEEN EVENTS, CORPORATE EARNINGS ARE EXPECTED TO DICTATE THE NEAR-TERM DIRECTION OF STOCK PRICES. V-O-A'S CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE WILL START THE WEEK AT EIGHT THOUSAND 38 AFTER GAINING 116 POINTS -- ALMOST ONE AND ONE-HALF PERCENT -- LAST WEEK.

AS EXPECTED, THE GOVERNORS OF THE U-S CENTRAL BANK DECIDED AT THEIR MEETING LAST WEEK TO LEAVE INTEREST RATES UNCHANGED. ON FRIDAY, THE U-S EMPLOYMENT REPORT SEEMS TO INDICATE A SLOWING IN GROWTH, MEANING NO INFLATION THREAT.

ANALYSTS SAY THE ENVIRONMENT REMAINS GOOD FOR STOCK PRICES BUT THAT SUBSTANTIAL INCREASES WILL LIKELY BE CAUSED BY BETTER-THAN-EXPECTED THIRD QUARTER CORPORATE EARNINGS. SOME OF THOSE EARNINGS REPORTS WILL BE RELEASED NEXT WEEK. OF COURSE, AN UNEXPECTED EVENT CAN ALWAYS UPSET THE STOCK MARKET. THAT HAPPENED FRIDAY WHEN CONCERN ABOUT TENSIONS BETWEEN IRAN AND IRAQ CAUSED A BRIEF, BUT INTENSE, SELLING WAVE ON WALL STREET.(SIGNED) NEB/NY/BA/LSF/PT
03-Oct-97 5:23 PM EDT (2123 UTC)
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Source: Voice of America

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