BAGHDAD -- Iraqi President Saddam Hussein announced yesterday an immediate suspension of Iraq's oil exports for a month in protest at U.S. support for Israel's incursion into Palestinian areas of the West Bank, says Reuters. The decision halts nearly two million barrels a day or some four percent of international oil supplies.

In a speech broadcast over Iraqi media, the Iraqi leader said: "The Iraqi leadership declared the complete stoppage of oil exports starting from this afternoon April 8 for a period of 30 days when we will further decide policy, or until the Zionist entity's armed forces have unconditionally withdrawn from the Palestinian territories."

NEW YORK -- After the release of a similar statement from potential suitor South African Breweries plc., Philip Morris Cos. Inc. released this brief statement late last week: "We confirm that we are in discussions with South African Breweries regarding a potential transaction involving Miller Brewing Co. We plan to make no further comment."

The statement was issued after London-based brewer SAB plc. said that it was "in discussions with a number of third parties regarding the ongoing consolidation of the beer industry." SAB's statement, also brief and to the point, added, "In response to recent press speculation, South African Breweries plc. confirms that it is in discussions with Philip Morris Cos. Inc. regarding a potential transaction involving Miller Brewing Co. These discussions are at a preliminary stage and no conclusions have been reached."