www.alertnet.org NEWSDESK   21 Jan 2003 18:19

By Luis Jaime Acosta

BOGOTA, Colombia, Jan 21 (Reuters) - Far-right Colombian warlord Carlos Castano said on Tuesday his outlawed militiamen would free three U.S. citizens they are holding "for their own safety" in jungle near the Panamanian border.

Castano, commander of the 10,000-strong United Self-Defense Forces of Colombia, known as "AUC" in Spanish, said paramilitary fighters in the northern Colombian province of Choco would hand over the three Americans to a humanitarian delegation later in the day.

Mark Wedeven, Megan Smaker and Robert Young Pelton were reported missing by Panamanian police over the weekend near the Darien Gap, a lush and violent jungle area that borders Panama and Colombia. The Darien Gap, a weapons-for-drugs corridor, is prowled by right-wing paramilitaries and rebels fighting in Colombia's four-decade war.

In an e-mail sent to Reuters, Castano said the Americans were being held for their own "safety" after paramilitary fighters found the three near a border area in Colombia that had been attacked by rebels of the 17,000-strong Revolutionary Armed Forces of Colombia, known as FARC.

"I was informed yesterday that fighters of the (paramilitary) Elmar Cardenas Block patrolling the area ... found some foreign citizens in confusing circumstances... The block's commander asked them to accompany him to be handed over to human rights representatives or church officials to avoid putting their lives at risk," he said.

"This incident cannot be considered to be a forced retention, even less kidnapping, since the Elmar Cardenas Block fighters assured me they did not use force, and that they will clear up the details of what happened today since they were simply taking a precaution to ensure the foreigners' safety."

It was not immediately clear what the three Americans were doing in the area, Panamanian police said.

But they contradicted Castano's version of events, saying paramilitary fighters attacked two Indian villages on the Panamanian side of the border killing five community leaders.

Indigenous leaders told Panamanian police some 70 paramilitaries attacked the towns of Pucuro and Paya on Saturday.

HOLDING CEASE-FIRE

The AUC, a brutal vigilante force that targets rebels and suspected civilian sympathizers, has held to a unilateral cease-fire since Dec. 1.

If the Panamanian police's version is confirmed, it could mean a breach of the paramilitaries' cease-fire -- a condition set by Colombian President Alvaro Uribe for holding peace talks with illegal armed groups.

It was not the first time foreigners have been caught in the middle of Colombia's war, which claims thousands of lives every year.

In 1993, FARC rebels kidnapped three U.S. missionaries near the border with Panama and killed them execution-style, Colombian authorities said.

In 1999, three American Indian rights activists were kidnapped by FARC rebels in the province of Arauca, in eastern Colombia. The three Americans, whom rebels accused of being members of the CIA, were tied with nylon cords, blindfolded and shot. Their bodies were dumped across Colombia's northeastern river border with Venezuela, authorities said. (Additional reporting by Robin Emmott in Panama City; Editing by Christopher Wilson; Reuters Messaging:luis.acosta.reuters.com@reuters.net; +571 634 4090)

cbs.marketwatch.com By CBS.MarketWatch.com Last Update: 2:20 PM ET Jan. 21, 2003

HOUSTON (CBS.MW) -- Shares of BJ Services fell Tuesday after the company said the weak market conditions that cut its first-quarter profit in half will likely continue into the second quarter.   CBS MARKETWATCH TOP NEWS Stocks sink as war jitters overshadow earnings Housing starts soar to 16-year high Airlines hit '03 lows as losses mount 3M beats by a penny and raises outlook Free! Sign up here to receive our Weekly Roundup e-Newsletter!

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Shares of the oilfield services company (BJS: news, chart, profile) fell by $1.07 to $30.98.

BJ posted a profit of $33.5 million, or 21 cents a share for the first quarter, compared to the average 22-cent-per-share estimate of analysts polled by Multex. A year ago, it earned $66.9 million, or 42 cents per share.

Revenue reached $473.1 million -- below market expectations of $489.3 million and last year's $510.1 million.

Chairman J.W. Stewart said BJ Services remains "optimistic about increased activity in the U.S. market," but expects that "activity will continue at present levels until late Spring.

As a result, Stewart said BJ Services would likely earn 22 cents to 25 cents per share for the second quarter and $1.05 to $1.15 per share for the full-year 2003.

A Thomson First Call poll of analysts pegged expectations at 28 cents and $1.23 per share, respectively.

Tidewater Q3 matches target

Tidewater reported a third-quarter profit Tuesday that matched Wall Street's average target, but said market conditions will likely remain the same for the fourth quarter.

Tidewater shares fell 70 cents to $29.16.

The company (TDW: news, chart, profile) said third-quarter profit reached $23.6 million, or 42 cents per share, compared to $33.5 million, or 60 cents per share a year ago. The latest results were in-line with the 42-cent average of per-share profit estimate of analysts surveyed by Multex.

The company reported third-quarter revenue of $163.1 million, vs. $181.8 million in the year-ago quarter and a Wall Street target of $164.4 million.

During a conference call Tuesday morning, Chief Executive Dean Taylor said the company currently anticipates that conditions in the March quarter should be similar to that of the December quarter.

But given the uncertainty surrounding Iraq, Venezuela and situation in the Gulf of Mexico, there is "greater possibility of change, either up or down, than there was in the quarter just reported," he said.

Still, Taylor voiced confidence that "good times are coming."

Oil stocks ease on quarterly data

Oil stocks fell Tuesday as disappointing quarterly earnings and outlook from BJ Services fueled investors' concerns that upcoming earnings from major oil companies will be weak.

See Energy Stocks.

Crude awaits moves on Venezuela strike

Efforts to end Venezuela's eight-week strike intensified Tuesday, but with production from the world's fifth-largest oil supplier continuing at reduced levels, crude futures remained well above $30 a barrel.

www.miami.com Posted on Tue, Jan. 21, 2003

By MARIKA LYNCH mlynch@herald.com

The United Kingdom -- in a travel advisory -- branded Trinidad and Tobago a possible terrorist target, and as a result a major cruise line pulled out. Now the two-island nation off Venezuela has the unwelcomed mission of scrambling to keep its image as a tourist spot.

Trinidad may be experiencing a crime wave and recent kidnapping spree, but it's not a haven for terrorists, government officials say. The country is instead a casualty of an overcautious United Kingdom.

'Following the carnage in Mombasa, Dar es Salam and Bali, governments around the world now wish to be `safe rather than sorry' insofar as the provision of information on foreign travel to their citizens is concerned,'' Prime Minster Patrick Manning told the House of Representatives Friday.

'Unfortunately in this instance . . . it is the government and people of Trinidad and Tobago who are being called upon to pay the price, economic and otherwise, for the new doctrine of `just in case.' ''

Selwyn Ryan, a professor at the University of the West Indies, agreed.

''What they are doing is out of an abundance of caution rather than in response to any information that is credible and worth taking seriously,'' Ryan said.

Politics also has clouded the issue, with the opposition accusing Manning's People's National Movement of being linked to a radical Muslim group.

The trouble started when police began investigating a Muslim cleric known to sympathize with Osama bin Laden. Though never charged with a crime, the cleric at one time was suspected by Trinidad police of making threats against Western interests.

The British government then issued a warning: ''We believe Trinidad and Tobago to be one of a number of countries where there may be an increased terrorist threat,'' it said. ``British nationals should exercise vigilance, particularly in public places frequented by foreigners such as hotels, restaurants and shopping malls.''

The UK-based P&O Princess Cruises started canceling stops -- six since December, diverting about 1,200 passengers each time, said Renatta Mohammed, communications manager for Trinidad's tourism promotion agency.

Last year, about 75,000 cruise ship passengers landed on the country's shores. The state agency is still gauging the economic impact of the pullout, since P&O Princess Cruises canceled service last week. No other lines have threatened to do the same.

Trinidad's economy is primarily fueled by rich gas and oil finds. The most immediate effect will be money lost to local entertainers and tax drivers, Mohammed said.

The U.S. government, by contrast, hasn't issued any similar travel advisories, and instead in a consular sheet says the country is ``considered safe.''

U.S. officials have been monitoring Trinidad and Tobago since local media reported in December that the cleric might be planning an attack. But no attacks materialized, a State Department official said, and neither did a warning.

''We're a democratic, peace-loving country known for its hospitality,'' said Mohammed, of the state tourism agency. This week, three former and current government ministers are being dispatched to London, New York and Washington to spread that message.

www.cnn.com From Diana Muriel CNN Tuesday, January 21, 2003 Posted: 2:20 PM EST (1920 GMT)

A strike in its eighth week is crippling the economy of Venezuela, once the world's fifth-largest exporter of oil. CNN's Diana Muriel reports. (January 21)

CARACAS, Venezuela (CNN) -- Former U.S. President Carter has proposed two alternatives to end a strike that has crippled Venezuela's economy and damaged the world oil market: hold new presidential elections or agree to wait for a binding referendum in August.

Carter has been in Venezuela trying to mediate the crisis between President Hugo Chavez and opposition leaders.

Speaking Tuesday, Carter said the two sides have welcomed the proposals for consideration and "want to reach an agreement."

In its eighth week, the strike has put pressure on Chavez to step down and hold early elections. Opposition leaders accuse him of operating an undemocratic regime that hurts the people.

The presidential term is six years. Under the Venezuelan Constitution, a referendum is held midway through the term. If the president loses, new elections are held. The referendum on Chavez is scheduled for August 19, but opposition leaders have insisted that time frame is too long to wait.

The opposition has pushed for a nonbinding referendum in February, which could help build international pressure for elections sooner. The opposition collected the necessary number of signatures required under Venezuelan law to hold a nonbinding referendum, but the government refused to acknowledge the petition. The opposition then appealed to the Supreme Court, which has yet to rule.

Carter said the strike could come to an end if the two sides agree to either of his proposals.

He did not say how long the presidential term would become if the country's constitution was amended to allow for early general elections.

A student walks past soldiers guarding the palace Tuesday in Caracas.

Carter, last year's winner of the Nobel Peace Prize, often has monitored elections around the world. When asked Tuesday whether he would be willing to monitor elections in Venezuela, Carter said his foundation has been invited to assist and will do what it can. But, he said, the decision belongs to Venezuela's people.

Carter said he would speak Friday with the Group of Friends of Venezuela at a meeting in Washington. The group, which includes the United States, Spain, Portugal, Mexico, Chile and Brazil, was created last week in Quito, Ecuador, at the suggestion of Brazil's new president, Luiz Inacio Lula da Silva.

Carter also has met with leaders of the Organization of American States, which has been brokering talks.

Carter said that no one thought the strike would last 50 days, and no one wants to see it go on weeks longer.

The strike has crippled oil exports in Venezuela, which was the world's fifth-largest exporter, and cost the country billions of dollars.

Fighting between protesters and government troops has turned violent at times.

www.cnn.com From Diana Muriel CNN Tuesday, January 21, 2003 Posted: 2:20 PM EST (1920 GMT)

A strike in its eighth week is crippling the economy of Venezuela, once the world's fifth-largest exporter of oil. CNN's Diana Muriel reports. (January 21)

CARACAS, Venezuela (CNN) -- Former U.S. President Carter has proposed two alternatives to end a strike that has crippled Venezuela's economy and damaged the world oil market: hold new presidential elections or agree to wait for a binding referendum in August.

Carter has been in Venezuela trying to mediate the crisis between President Hugo Chavez and opposition leaders.

Speaking Tuesday, Carter said the two sides have welcomed the proposals for consideration and "want to reach an agreement."

In its eighth week, the strike has put pressure on Chavez to step down and hold early elections. Opposition leaders accuse him of operating an undemocratic regime that hurts the people.

The presidential term is six years. Under the Venezuelan Constitution, a referendum is held midway through the term. If the president loses, new elections are held. The referendum on Chavez is scheduled for August 19, but opposition leaders have insisted that time frame is too long to wait.

The opposition has pushed for a nonbinding referendum in February, which could help build international pressure for elections sooner. The opposition collected the necessary number of signatures required under Venezuelan law to hold a nonbinding referendum, but the government refused to acknowledge the petition. The opposition then appealed to the Supreme Court, which has yet to rule.

Carter said the strike could come to an end if the two sides agree to either of his proposals.

He did not say how long the presidential term would become if the country's constitution was amended to allow for early general elections.

A student walks past soldiers guarding the palace Tuesday in Caracas.

Carter, last year's winner of the Nobel Peace Prize, often has monitored elections around the world. When asked Tuesday whether he would be willing to monitor elections in Venezuela, Carter said his foundation has been invited to assist and will do what it can. But, he said, the decision belongs to Venezuela's people.

Carter said he would speak Friday with the Group of Friends of Venezuela at a meeting in Washington. The group, which includes the United States, Spain, Portugal, Mexico, Chile and Brazil, was created last week in Quito, Ecuador, at the suggestion of Brazil's new president, Luiz Inacio Lula da Silva.

Carter also has met with leaders of the Organization of American States, which has been brokering talks.

Carter said that no one thought the strike would last 50 days, and no one wants to see it go on weeks longer.

The strike has crippled oil exports in Venezuela, which was the world's fifth-largest exporter, and cost the country billions of dollars.

Fighting between protesters and government troops has turned violent at times.