Voice of America, 97-09-04

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

CONTENTS

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

[02] GERMANY / EURO (L ONLY) BY KYLE KING (BONN)

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

[04] TURKEY / CYPRUS (L ONLY) BY AMBERIN ZAMAN (ANKARA)

[05] U-S JETS / BOSNIA (S-ONLY) BY REBECCA MCMENAMIN (PENTAGON)

[06] THURSDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

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

INTRO: STOCK MARKETS IN WESTERN EUROPE CLOSED MIXED THURSDAY, AS MANY INVESTORS WAITED FOR ECONOMIC DATA FROM THE UNITED STATES FOR A SIGN OF DIRECTION. PAUL FRANCUCH HAS THE CLOSING FIGURES FROM OUR OFFICES IN LONDON.

TEXT: AUGUST EMPLOYMENT FIGURES FROM WASHINGTON EXPECTED OUT ON FRIDAY MAY GIVE INVESTORS A SENSE OF DIRECTION -- SOMETHING WHICH WAS NOT APPARENT FROM CLOSING EUROPEAN FIGURES ON THURSDAY.

INTEREST RATES HELD STEADY AFTER A MEETING OF POLICY MAKERS IN GERMANY, BUT SOME ANALYSTS EXPECT THE COST OF BORROWING GERMAN MONEY TO GO UP SOON. FRANKFURT'S "DAX 30" INDEX OF STOCKS CLOSED TRADING DOWN ALMOST 32 POINTS THURSDAY.

PRICES WERE SOMEWHAT HIGHER HERE IN LONDON AND IN PARIS. THE "FINANCIAL TIMES" 100 INDEX OF BRITISH STOCKS GAINED OVER 14 POINTS, WHILE THE PARIS "CAC 40" WAS UP JUST OVER NINE POINTS.

IN CURRENCY TRADING, THE DOLLAR REMAINED STRONG AGAINST BOTH THE MARK AND THE POUND. GOLD AGAIN SHOWED NO SIGN OF DIRECTION, THE PRICE OF WHICH WAS VIRTUALLY UNCHANGED FROM WEDNESDAY. (SIGNED)
NEB/PCF/WFR
04-Sep-97 2:12 PM EDT (1812 UTC)
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Source: Voice of America

[02] GERMANY / EURO (L ONLY) BY KYLE KING (BONN)

INTRO: GERMANY'S FOREIGN MINISTER SAYS THE PROPOSED SINGLE EUROPEAN CURRENCY MUST BE INTRODUCED ON TIME, BECAUSE A DELAY WOULD PROBABLY KILL THE PROJECT. V-O-A'S KYLE KING REPORTS FROM BONN.

TEXT: GERMAN FOREIGN MINISTER KLAUS KINKEL SAYS THE SINGLE EUROPEAN CURRENCY MUST AND WILL BE INTRODUCED ON TIME IN JANUARY OF 1999.

SPEAKING TO REPORTERS IN BONN, MR. KINKEL SAID ANY ATTEMPT TO INTRODUCE THE COMMON CURRENCY AT A LATER DATE WOULD PROBABLY NOT BE VIEWED SERIOUSLY.

THE FOREIGN MINISTER'S STATEMENT CAME AS THE PRESIDENT OF THE POWERFUL GERMAN CENTRAL BANK, HANS TIETMEYER, ISSUED A CLARIFICATION OF EARLIER REMARKS THAT SEEMED TO IMPLY HE FAVORED A DELAY IN THE PROJECT.

IN HIS CLARIFICATION, MR. TIETMEYER SAID HE WAS SIMPLY TRYING TO REJECT THE ARGUMENTS OF THOSE WHO SAY A DELAY WOULD BE AN ECONOMIC DISASTER. SUCH ARGUMENTS, HE SAID, DO NOTHING TO BOOST CONFIDENCE IN THE FUTURE CURRENCY.

AS GERMANY, FRANCE AND OTHER KEY BACKERS OF THE SINGLE CURRENCY PROJECT STRUGGLE TO MEET THE TOUGH CRITERIA TO JOIN, OFFICIALS HAVE BEEN INSISTING THE PROJECT WILL GO AHEAD ON TIME. SKEPTICS ARGUE THAT A DELAY WOULD BE BETTER THAN THE CREATION OF A WEAK CURRENCY THAT WOULD EMERGE IF THE CRITERIA WERE RELAXED.

FOREIGN MINISTER KINKEL SAYS DOUBTS ABOUT THE EURO BEING INTRODUCED ON SCHEDULE WERE JEOPARDIZING GERMANY'S FRAGILE ECONOMIC RECOVERY, WHICH HE SAID NEEDS SECURITY AND TO PLAN AND CALCULATE. (SIGNED)
NEB/KBK/JWH/KL
04-Sep-97 9:50 AM EDT (1350 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES WERE MIXED TODAY (THURSDAY) AS SOME PROFIT-TAKING OCCURRED. V-O-A CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 78-HUNDRED-67, DOWN 27 POINTS. THE LARGER STANDARD AND POOR'S 500 INDEX CLOSED AT 930, UP THREE POINTS.

ANALYSTS SAY SOME PROFIT-TAKING ENTERED THE MARKET AFTER THE STRONG GAINS OF EARLIER IN THE WEEK. IN ADDITION, MANY TRADERS WERE CAUTIOUS IN ADVANCE OF THE AUGUST EMPLOYMENT FIGURES, WHICH WILL BE RELEASED FRIDAY.

U-S FACTORY ORDERS WERE UP TWO-TENTHS OF ONE PERCENT IN JULY, AHEAD OF EXPECTATIONS.

A KEY INDEX OF U-S RETAIL SALES REGISTERED A FIVE-AND-ONE-HALF PERCENT RISE IN AUGUST, BOOSTED BY HIGHER DEMAND FOR APPAREL AS PARENTS PREPARED CHILDREN TO GO BACK TO SCHOOL.

THE TYSON FOODS COMPANY HAS AGREED TO BUY RIVAL HUDSON FOODS FOR 643-MILLION DOLLARS. THE SALE COMES JUST TWO WEEKS AFTER HUDSON WAS FORCED TO SHUT DOWN ITS BEEF PROCESSING PLANT BECAUSE OF AN OUTBREAK OF E-COLI BACTERIA. THE COMBINED COMPANY WILL CONCENTRATE ON POULTRY PRODUCTION.

THE FORD MOTOR COMPANY REPORTED A THREE-POINT-FOUR PERCENT JUMP IN U-S SALES LAST MONTH, LED LARGELY BY STRONG TRUCK SALES.

A SURVEY OF AMERICAN WORKING WOMEN SHOWS THE MAJORITY BELIEVE THEY HAVE STILL NOT REACHED FULL EQUALITY IN THE WORK PLACE. THE SURVEY, CONDUCTED BY THE A-F-L C-I-O LABOR FEDERATION, SHOWS MANY WOMEN FEEL DISCRIMINATION IN THE AREAS OF EQUAL PAY FOR EQUAL WORK AND THE OPPORTUNITY FOR PROMOTION. (SIGNED)
NEB/NY/BA/RRM
04-Sep-97 5:10 PM EDT (2110 UTC)
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Source: Voice of America

[04] TURKEY / CYPRUS (L ONLY) BY AMBERIN ZAMAN (ANKARA)

INTRO: TURKEY'S DEPUTY PRIME MINISTER, BULENT ECEVIT, HAS ACCUSED THE GREEK CYPRIOT GOVERNMENT OF SEEKING TO RETAKE THE TURKISH NORTH OF THE ISLAND. AMBERIN ZAMAN IN ANKARA REPORTS MR ECEVIT ALSO ACCUSED THE EUROPEAN UNION OF ENCOURAGING THE GREEK CYPRIOTS IN WHAT HE TERMED THEIR BELLICOSE BEHAVIOR.

TEXT: IN REMARKS PUBLISHED THURSDAY IN THE MASS CIRCULATION DAILY MILLIYET, MR. ECEVIT SAID THE GREEK CYPRIOT GOVERNMENT WANTED TO RETAKE TURKISH CONTROLLED NORTHERN CYPRUS AND THAT IT WAS IN HIS WORDS AMASSING WEAPONS TO FULFILL THAT GOAL. HE WAS REFERRING TO THE RECENT PURCHASE BY THE GREEK CYPRIOT GOVERNMENT OF 600-MILLION DOLLARS WORTH OF RUSSIAN-MADE SURFACE-TO-AIR MISSILES.

MR. ECEVIT REITERATED EARLIER THREATS BY THE TURKISH GENERAL STAFF THAT TURKEY WOULD CARRY OUT STRIKES AGAINST THE MISSILES IF AND WHEN THEY ARE DEPLOYED.

WESTERN DIPLOMATS SAID MR. ECEVIT'S REMARKS WILL NOT HELP (RELIEVE) MOUNTING TENSIONS BETWEEN TURKEY AND GREECE.

MR. ECEVIT, WHO IS ONE OF TURKEY'S BEST LOVED POLITICIANS, IS WELL KNOWN FOR HIS HARDLINE VIEWS ON CYPRUS. HE WAS THE THE TURKISH PRIME MINISTER -- IN 1974 -- WHO ORDERED THE TURKISH MILITARY INTERVENTION ON THE ISLAND AFTER A GREEK-BACKED ULTRA NATIONALIST GROUP SOUGHT TO STAGE A COUP AND ANNEX THE ISLAND TO MAINLAND GREECE.

THE ISLAND HAS REMAINED DIVIDED EVER SINCE. U-N SPONSORED PEACE TALKS, WHICH RESUMED AFTER A THREE-YEAR LONG BREAK LAST JUNE, HAVE FAILED TO REGISTER SIGNFICANT PROGRESS. TURKEY ACCUSES THE EUROPEAN UNION OF OBSTRUCTING THE TALKS BY STARTING MEMBERSHIP NEGOTIATIONS WITH THE GREEK CYPRIOTS AHEAD OF A PEACE SETTLEMENT THAT WOULD RE-UNITE THE ISLAND UNDER A FEDERAL UMBRELLA. (SIGNED)
NEB/AZ/JWH/KL
04-Sep-97 10:45 AM EDT (1445 UTC)
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Source: Voice of America

[05] U-S JETS / BOSNIA (S-ONLY) BY REBECCA MCMENAMIN (PENTAGON)

INTRO: THE UNITED STATES IS BEEFING UP ITS AIR SUPPORT FOR NATO-LED TROOPS IN BOSNIA-HERZEGOVINA. V-O-A'S REBECCA MCMENAMIN REPORTS FROM THE PENTAGON THAT THE MOVE IS PART OF A BROADER PLAN TO BOLSTER NATO FORCES AHEAD OF BOSNIA'S LOCAL ELECTIONS NEXT WEEKEND (SEPTEMBER 13TH AND 14TH).

TEXT: THE AIR FORCE IS DISPATCHING SIX ADDITIONAL F-16 FIGHTER JETS TO THE AVIANO AIR BASE IN ITALY. A PENTAGON SPOKESMAN, NAVY CAPTAIN MIKE DOUBLEDAY, SAYS THEY WILL JOIN A DOZEN OTHER FIGHTERS SUPPORTING NATO GROUND FORCES IN BOSNIA.

THESE AIRCRAFT WILL PLAY A ROLE OVERHEAD IN BOSNIA IN ENSURING THE ENVIRONMENT ON THE GROUND REMAINS SUCH THAT PEOPLE CAN GET TO THE POLLING PLACES AND VOTE.

CAPTAIN DOUBLEDAY SAYS THE DEPLOYMENT WAS PLANNED BEFORE RECENT VIOLENCE IN BOSNIA IN WHICH HARD-LINE SERBS ATTACKED NATO TROOPS. BUT IT IS STILL LIKELY TO BE SEEN AS A SHOW OF FORCE, GIVEN THAT THE ALLIANCE HAS RECENTLY TAKEN A MORE AGGRESSIVE STANCE AGAINST THOSE BLOCKING THE PEACE PROCESS.

NATO'S TOP COMMANDER IN EUROPE, GENERAL WESLEY CLARK, WARNED EARLIER THIS WEEK THAT NATO IS PREPARED TO USE LETHAL FORCE TO PROTECT ITS TROOPS AND CONTINUE ITS MISSION. GENERAL CLARK MET IN BELGRADE THURSDAY WITH YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC AND WAS EXPECTED TO DELIVER A SIMILAR MESSAGE. (SIGNED)
NEB/RJM/RRM
04-Sep-97 4:04 PM EDT (2004 UTC)
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Source: Voice of America

[06] THURSDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

INTRO: THE EDITORIAL REACTION TO THE DEATH OF PRINCESS DIANA IS BEGINNING TO FADE IN THE COLUMNS OF THE NATION'S PRESS, BUT SEVERAL PAPERS ARE RUNNING ADDITIONAL COMMENTS THIS THURSDAY. OTHER SUBJECTS UNDER THE MICROSCOPE INCLUDE THE CAMPAIGN FINANCING ACTIVITIES OF VICE PRESIDENT AL GORE; THE ECONOMIC RECOVERY OF MEXICO; AND A FAREWELL TO THE PAST DIRECTOR OF THE METROPOLITAN OPERA, SIR RUDOLPH BING. NOW, HERE IS _______________ WITH A CLOSER LOOK AND FEW QUOTES IN TODAY'S EDITORIAL DIGEST.

TEXT: TODAY'S "MIAMI HERALD" SAYS THE BEST WAY TO HONOR THE MEMORY OF PRINCESS DIANA IS TO PASS THE INTERNATIONAL BAN ON LAND MINES, A CAUSE WITH WHICH SHE WAS CLOSELY CONNECTED.

VOICE: "...... HER PERSONAL INTERESTS AND SENSE OF *NOBLESSE OBLIGE* [ITALICS FOR FOREIGN WORDS] LED HER TO USE HER CELEBRITY STATUS TO ADVANCE AN ESPECIALLY WORTHY CAUSE: RIDDING THE WORLD OF LAND MINES. .... THIS WEEK IN OSLO, DIANA'S EFFORTS WERE REMEMBERED AT THE OPENING SESSION OF A 100-NATION CONFERENCE SEEKING A BAN ON LAND MINES. ..... IF THE WORLD REALLY WANTS A FITTING MEMORIAL FOR PRINCESS DIANA, IT COULD FIND NO BETTER ONE THAN A GLOBAL, ENFORCEABLE TREATY TO END THE MANUFACTURE, SALE, AND USE OF LAND MINES ....."

TEXT: "THE NEW YORK POST" DISAGREES.

VOICE: "RUSSIA, CHINA AND NORTH KOREA, NOW THE WORLD'S BIGGEST EXPORTERS OF LAND MINES, HAVE SIMPLY REFUSED TO PARTICIPATE IN THE NEGOTIATIONS [TO BAN THEM] AND SAY THEY WON'T ABIDE BY ANY BAN. THUS, THEY ARE SURE TO BE THE PRINCIPAL SUPPLIERS OF MINES THAT MAY SOMEDAY BE USED AGAINST U-S TROOPS. MEANWHILE, IF THE BAN IS ADOPTED, AMERICANS WILL BE PROHIBITED FROM USING MINES IN *ANY* [ITALICS FOR EMPHASIS] CIRCUMSTANCES -- EVEN ..... WHERE THEY ARE PARTICULARLY USEFUL IN DEFENDING ISOLATED OUTPOSTS FROM GUERRILLA ATTACK. THE ANTI-LAND-MINE CAMPAIGN HAS ATTRACTED CONSIDERABLE CELEBRITY SUPPORT -- NOTABLY FROM THE LATE PRINCESS DIANA. BUT IN SUCH REALMS, THE STUDIED JUDGMENT OF MILITARY COMMANDERS IS SOUNDER."

TEXT: MEANWHILE, "THE NEW YORK TIMES" IS CONTEMPLATING THE HUGE OUTPOURING OF GRIEF HER DEATH HAS CAUSED, AND WHETHER THE MEDIA IS STILL "USING" HER FOR ITS OWN ENDS.

VOICE: "REGRET OVER THE DEATH OF DIANA, PRINCESS OF WALES, IS BEGINNING TO MIX WITH MORE COMPLICATED EMOTIONS, INCLUDING WONDERMENT OVER THE CELEBRITY-WORSHIP THAT MADE HER SUCH A PUBLIC OBSESSION, AND SOME MISGIVINGS ABOUT THE OVERWHELMING NEWS COVERAGE OF HER PASSING. .... PEOPLE ARE CLEARLY EAGER TO SHARE IN EXPRESSING SORROW AT HER SAD END, AND TO BE PART OF THE INTERNATIONAL DISCUSSION OF HER LIFE. BUT THE MIND-NUMBING ATTENTION THE MEDIA ARE OFFERING UP IS NOT SOLELY A RESPONSE TO PUBLIC DEMAND. ..... RESPONDING TO THE PUBLIC'S NATURAL INTEREST IN DIANA'S STORY, THE MEDIA MAY BE FANNING IT INTO AN UNNATURAL SIZE."

TEXT: TURNING TO DOMESTIC TOPICS, THE FUND RAISING ACTIVITIES OF VICE PRESIDENT AL GORE ARE BACK IN THE HEADLINES, WITH WORD THAT HE MAY HAVE MADE ILLEGAL PHONE SOLICITATIONS FROM HIS WHITE HOUSE OFFICE, WITH THE MONEY GOING DIRECTLY TO THE CLINTON-GORE CAMPAIGN, AND NOT THE DEMOCRATIC PARTY. [OPT] "THE WASHINGTON POST" RESPONDS:

VOICE: "WHAT'S THE DIFFERENCE, YOU ASK ......? THE DIFFERENCE LIES AT THE JUSTICE DEPARTMENT, WHOSE CAREER PROSECUTORS CONTEND ... THE CRIMINAL PROVISIONS OF THE CAMPAIGN FINANCE LAWS DON'T APPLY TO MONEY RAISED FOR PARTIES, ONLY MONEY RAISED FOR CAMPAIGNS. THAT'S ONE OF THE REASONS ATTORNEY GENERAL JANET RENO HAS GIVEN FOR DECLINING ... TO NAME AN INDEPENDENT COUNSEL TO INVESTIGATE AND PROSECUTE POSSIBLE CRIMINAL VIOLATIONS .... THE NEW REVELATIONS STRIP AWAY THAT LINE OF DEFENSE ... AND SHE WAS REPORTED LAST NIGHT TO BE CONSIDERING WHETHER TO ORDER A PRELIMINARY INQUIRY INTO THE MATTER."

TEXT: "THE WALL STREET JOURNAL" COMMENTS:

VOICE: TAKEN IN ISOLATION, THE VARIOUS INCIDENTS MIGHT BE DISMISSED.... BUT A COMMON THEME DOES EMERGE: THE MISUSE OF HIGH OFFICE.... WHAT IS INVOLVED HERE IS .... A PATTERN OF ILLEGAL CONDUCT, AND ... WHAT NEEDS TO BE INVESTIGATED IS WHETHER THAT PATTERN WAS DIRECTED FROM THE OVAL OFFICE."

TEXT: LOOKING SOUTH OF THE U-S BORDER, "THE LOS ANGELES TIMES" IS WARNING MEXICO TO REMEMBER THE PESO CRISIS OF 1994 AND NOT MAKE THE SAME MISTAKES TWICE.

VOICE: "THE ECONOMISTS ARE LOOKING AT THE MEXICAN PESO AGAIN, AND MANY FEAR IT IS OVERVALUED. WHAT TO DO? THIS IS NOT A DECISION TO BE TAKEN LIGHTLY, NOT SO SOON AFTER THE CATASTROPHIC RECESSION THAT BEFELL THE COUNTRY WHEN THE CURRENCY WAS DEVALUED THREE YEARS AGO.... THE PESO HAS HELD STEADY IN FOREIGN EXCHANGE WHEN IT WOULD HAVE WEAKENED IN THE FACE OF STEADILY HIGH INFLATION.... IN THE LONG TERM, INCREASED [MEXICAN] CONSUMPTION AND AN ARTIFICIALLY STRONG PESO PRESAGE SERIOUS PROBLEM FOR BOTH COUNTRIES [THE U-S AND MEXICO]."

TEXT: ELSEWHERE, "THE WASHINGTON POST" IS LAUDING RUSSIAN PRESIDENT BORIS YELTSIN FOR HIS DECISION NOT TO SEEK A THIRD TERM, WITH THESE THOUGHTS:

VOICE: ".... LEADERS IN OTHER NATIONS OF THE FORMER SOVIET UNION SEEM DETERMINED TO HOLD ONTO POWER WHETHER THEIR CONSTITUTIONS APPROVE OR NOT. IN THAT CONTEXT, MR. YELTSIN'S SIMPLE, SEEMINGLY OFFHAND DECLARATION ...... IS REMARKABLE INDEED."

TEXT: ON ANOTHER DOMESTIC ISSUE, "THE ORLANDO SENTINEL" IS CONCERNED ABOUT THE RECURRING ISSUE OF DESECRATING THE U-S FLAG, WHICH HOUSE SPEAKER NEWT GINGRICH BROUGHT UP ON A RECENT VISIT TO THAT CITY, ADDRESSING THE AMERICAN LEGION CONVENTION. SAYS THE SENTINEL:

VOICE: CERTAINLY, NO ONE DISPUTES THE SYMBOLIC VALUE OF THE STARS AND STRIPES (U-S FLAG), NOR DO MOST PEOPLE BELIEVE THAT IT ISN'T WORTHY OF THE UTMOST RESPECT.... BUT THAT SYMBOL IS NOT MORE IMPORTANT THAN THE FREEDOMS IT REPRESENTS. AND ONE OF THOSE FREEDOMS IS THE RIGHT TO POLITICAL PROTEST -- EVEN IF, AS OFFENSIVE AS IT MAY BE, THAT PROTEST TAKES THE FORM OF BURNING THE FLAG. THAT'S PRECISELY WHY THE SUPREME COURT ... OVERTURNED FLAG-DESECRATION LAWS IN 48 STATES."

TEXT: AND LASTLY, A FOND FAREWELL TO RUDOLPH BING, THE MAESTRO OF THE METROPOLITAN OPERA DURING ITS TRANSITION FROM THE OLD MUSIC HALL TO THE THEN "NEW" LINCOLN CENTER ADDRESS, FROM "THE SUN" IN BALTIMORE.

VOICE: "IF THE TREND TOWARD CLOSING A COUNTRY'S DOORS TO REFUGEES AND IMMIGRANTS GROWS, THE NEXT RUDOLF BING WON'T MAKE IT. SIR RUDOLF, WHO DIED TUESDAY AT 95, WAS AN AUSTRIAN ... REFUGEE FROM NAZI TYRANNY.... HE BUILT THE MET INTO THE WORLD'S PREMIER OPERA COMPANY. HE ... WAS KNOWN FOR AN ALOOF MANNER AND A BITING WIT IN HIS ADOPTED LANGUAGE. TO THIS DAY, SIR RUDOLF IS THE ARCHETYPE OF THE OPERA IMPRESARIO. WHAT A LOSS FOR THE COUNTRIES THAT HAD NO USE FOR HIM. WHAT A GAIN FOR THE COUNTRIES THAT TOOK HIM IN."

TEXT: AND ON THAT MUSICAL NOTE, WE CONCLUDE THIS BRIEF SAMPLING OF COMMENT FROM THE EDITORIAL PAGES OF THURSDAY'S U-S NEWSPAPERS.
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04-Sep-97 11:02 AM EDT (1502 UTC)
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Source: Voice of America

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