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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (5503)	10/6/1998 10:12:00 PM
From: TokyoMex	Read Replies (1) \| Respond to of 119973

Nikkei +350 Spoos +9.5 Suggest sell into strength ,,

To: Trader J who wrote (5503)	10/6/1998 10:17:00 PM
From: TokyoMex	Read Replies (1) \| Respond to of 119973

Tuesday October 6, 9:54 pm Eastern Time Activist urges oil companies to leave Nigeria By Atiya Hussain NEW YORK, Oct 6 (Reuters) - A leading Nigerian environmental activist is urging U.S. and other international oil companies to leave his country, warning of the likelihood of increasingly militant action by ethnic protesters. Oronto Douglas, former attorney for the executed Ogoni activist Ken Saro-Wiwa and founder of the pan-ethnic CHICOCO movement in the Niger Delta, warns that action like Tuesday's, in which local protesters shut in about 400,000 barrels per day (20 percent) of Nigerian oil production, is set to continue. ''In the case of Nigeria, the multinationals, in collaboration with the military, have waged a very vicious and relentless ecological war on our land, which is affecting our present and has mortgaged our future,'' Douglas said. ''We are basically an agrarian culture,'' he added, explaining that land and water pollution associated with petroleum production had taken a drastic toll on fishing and farming in his country. ''Frustration is growing,'' Douglas said, pointing to the increasingly common attacks on oil companies in the Niger Delta. This year, there have been a growing number of attacks on infrastructure and on oil company workers, including kidnappings and murders, which have led to an unprecedented number of disruptions. ''We are asking Americans to recall multinationals to their homeland. I am here to mobilize opinion to compel the multinational companies not to ruin our today and tomorrow,'' Douglas said, in an interview with Reuters in New York. There are some U.S. laws that support the Nigerian protesters, but they are limited to local statutes in California and Massachusetts, banning certain dealings until there is a democratic government in Nigeria. ''What I have done is support the message sent by these cities,'' said Douglas. ''We are turning to the ordinary Americans, to the ordinary Europeans who live in freedom,'' he said, adding that he is planning to tour Europe later this month. Nigeria's state-owned oil company, Nigerian National Petroleum Corp. (NNPC), has six exploration and production joint ventures with U.S. and European companies, including U.S. oil majors Mobil Corp. (NYSE:MOB - news), Chevron Corp. (NYSE:CHV - news), and Texaco Inc. (NYSE:TX - news) ; Anglo-Dutch oil giant Royal Dutch/Shell Group (quote from Yahoo! UK & Ireland: SHEL.L); France's Elf Aquitaine and Italy's Agip SpA . Douglas expressed concern about recent moves to open up Nigeria's economy, virtually synonymous with the oil sector, which produces nearly two million barrels per day and accounts for about 90 percent of Nigeria's government and export revenue. Gen. Abdusalami Abubakar, who became Nigeria's military ruler in June after the sudden death of dictator Sani Abacha, recently announced his intention to liberalize Nigeria's economy. Last week, the head of the state-owned Nigerian National Petroleum Corp. (NNPC), said that the deregulation would begin with prices of petroleum products within Nigeria, and extend to the country's prized upstream sector. The upstream sector involves exploration for and production of crude oil and natural gas. Douglas's movement does not advocate violent protest but hopes that the oil companies will evaluate the situation and pull out voluntarily, as happened to a large extent in South Africa under apartheid, and more recently in Myanmar, formerly known as Burma. -------------------------------------------------------------------------------- More Quotes and News: Chevron Corp (NYSE:CHV - news) Mobil Corp (NYSE:MOB - news) Texaco Inc (NYSE:TX - news) Related News Categories: US Market News

To: Trader J who wrote (5503)	10/6/1998 10:18:00 PM
From: TokyoMex	Respond to of 119973

Tuesday October 6, 9:53 pm Eastern Time Japan feels 'strong" global desire for bank reform WASHINGTON, Oct 6 (Reuters) - Japan acknowledges the international financial community's strong desire for the Asian nation to fix its ailing banking system, a senior Finance Ministry official said on Tuesday. ''Amid mounting sense of urgency over the global financial crisis, I had to feel that there is a very strong desire for Japan (to act),'' Japan's State Secretary of Finance Sadakazu Tanigaki told a news conference at the annual meetings of the International Monetary Fund and the World Bank. Tanigaki, deputizing for Finance Minister Kiichi Miyazawa at the meetings, added that his counterparts shared concerns over the banking sector in many countries where souring loans were causing a credit crunch. He said he had sought understanding from his counterparts on stimulative fiscal and monetary policies Japan had recently taken and a set of bills now in Parliament -- one on processing of banks that have failed or are on the verge of a failure and another on recapitalizing weak but viable banks. He said the current diet session would be extended to get the legislation through. Asked if Japan was planning any additional fiscal measures, he said quick implementation of a 16 trillion yen stimulus package, consisting of tax cuts and public works spending, was the priority. -------------------------------------------------------------------------------- Related News Categories: currency, international, options, US Market News -------------------------------------------------------------------------------- Help