NEWS SUMARY

NEWS SUMARY

AIR CARGO

Emery Australia expects competition to spur mergers in the air cargo forwarding industry. 9BAirport shuttle company intends to start hauling freight. 9B

AVIATION

French carrier Air Inter is preparing for increased competition in 1992. 9B

Aerospace workers union ties Boeing defects to lack of training. 9B

COAL

China plans to swap coal for U.S. locomotives in a unique trade deal. 1A

U.S. coking coal exporters remain unable to settle a 1988 contract price with one of their best customers, Siderbras of Brazil. 13B

Imperial Chemical Industries PLC converted one of its petrochemical plants to burn coal. 13B

COMMODITIES

The U.S. coffee market faces shortages of quality coffee supplies. 6A

A USDA analysis says the recovery in farm land prices is putting a healthy glow back into the financial complexion of American farmers. 10A

Cocoa market participants are expecting the first quarter 1988 U.S. cocoa grind to be up 8 percent to 12 percent. 10A

EDI

Mother Parker Foods Ltd. has implemented EDI simply to satisfy its customers. 4B

Paperwork rules a Washington meeting on electronic communications. 4B

Brazil's Proceda Tecnologia and GE Information Services are setting up the South American country's first formal EDI network. 4B

A UN-backed group is making major progress toward creating a support structure for electronic communications. 4B

EXPORTS

Sunkist Growers says high tariffs, not quotas, are the main impediment to increased export of oranges to Japan. 3A

Four people face charges of exporting radar navigation systems to Iran. 4A

Patience, flexibility and the right partners are the keys to success in Sino- U.S. trade. 4A

FINANCIAL

Key industrial nations must take further actions to avert international

financial turbulence, the International Monetary Fund cautioned. 3A

Foreign central banks probably will continue to support the dollar despite dangers that massive intervention poses to their financial markets. 11A

The major industrial nations will work to keep exchange rates steady, West Germany's top central banker said. 11A

The U.S. dollar plunged 2 percent against key currencies Thursday on the surprise news of the highest U.S. trade gap in four months. 11A

Nearly one dollar in every four the World Bank lends to Third World governments is given on condition that they change their policies. 11A

Brazil is struggling to orient itself amid continuing political confusion and 21 percent a month inflation. 11A

GENERAL NEWS

The Senate approved a $1.1 trillion federal budget for fiscal 1989. 2A

U.S.-Panamanian relations are clouded by more than a power struggle. 3A

IMPORTS

Overall U.S. imports from the Caribbean Community remain stagnant, despite rising garment shipments from the region. 4A

INSURANCE

The business community will accept consumer-oriented amendments in an effort to allow product liability legislation to go forward. 1A

State regulators said no-fault auto insurance with a non-dollar standard for allowing lawsuit appears to offer the best solution to escalating costs. 13A

Alexander & Alexander Services is considering sale of its insurance premium financing arm. 13A

House members met opposition in as effort to build support for legislation mandating employer-sponsored health insurance. 13A

Pension funds did not sell large blocks of stock during the fourth quarter despite Black Monday, a group said. 13A

MARITIME

The shipping conference covering exports from the United States to Northern Europe will increase freight rates starting June 1. 1A

A consortium's bid to run Manila's containerport is stalled again despite concessions. 1B

Rep. Helen Delich Bentley, R-Md., challenged the maritime industry to act on overloaded marine containers or the government will. 1B

San Francisco's effort to attract a port director faces competition from several other ports. 1B

Delegates to a West Coast longshoremen's convention have recommended approval of AFL-CIO affiliation. 3B

Rainbow Navigation Co. again went to court in a reopening of the dispute over the carriage of military cargoes to Iceland. 3B

A House committee approved a stopgap version of legislation to set guidelines for compensating seamen injured while working on fishing vessels. 3B

One of the most important contracts in the history of containerization was signed Thursday between Sea-Land and ECT. 14B

The sale of government-owned National Shipping of the Philippines is being deferred for at least two months. 14B

OIL AND GAS

Eight non-OPEC members have agreed to talks with the group on ways to stabilize prices, Venezuela says. 12B

Americans saved $450 million on heating bills in March because of warmer- than-normal weather. 12B

Three New England state legislatures are considering imposing motor fuel taxes to help tank owners with spill cleanup costs. 13B

PLASTICS/CHEMICALS

BASF Corp. is planning to invest $45 million in its Southfield, Mich., Automotive Research Center. 11B

International Paper Co. will build a new oriented strand board facility in Georgia. 11B

The U.S. market for media, sera and reagents used in biotechnology for cell culture is expected to grow an average of 12 percent a year through 1995. 11B

RAILROADS

Chicago West Pullman Corp. urges the Pittsburgh & Lake Erie Railroad to appeal a court ruling and says it still intends to buy the railroad. 2B

TRUCKING

Report forecasts cooling medium and heavy truck sales in third quarter. 2B

The DOT said it may exclude farmers, firefighters and military personnel from commercial driver's license requirements. 2B

SPECIAL ISSUES

Disputes over quotas for textiles and apparel exports to the United States weigh heavily on the minds of Chinese exporters and U.S. importers. 5A

China is planning to increase exports of high-quality silk and silk products to the United States. 8A

Rapid changes in projected requirements for aircraft over the next 10 years are likely to make leasing far more attractive than purchasing. 5B

Tax reform measures instituted by the Reagan administration are likely to have a negative effect on international leasing activity. 5B

WORLD TRADE

A higher U.S. trade deficit in February appeared to buttress forecasts that the U.S. trade deficit will fall only slowly. 1A

U.S. exports of scientific instruments have risen sharply in recent months. 1A

House Speaker Jim Wright indicated the plant closings provision will be removed from trade bill despite union objection. 1A

South Korea's labor strife widened Thursday amid the first signs that the turmoil is affecting exports. 3A

Agreements reached at the U.S.-U.S.S.R. talks virtually assures that more business officials will be heading to Moscow seeking deals. 3A