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Bombs found in Bogotá buses [Full Text] BOGOTA - Molotov cocktails were found on three Bogotá city buses Tuesday, the latest in a much-feared urban terror campaign in Colombia's capital. One bus in the city's north end was destroyed by flames, and the other explosive devices found throughout the city were discovered before they were set off, police said. No passengers were hurt. The government was quick to point the blame: ''It was FARC terrorism,'' National Police Commander Gen. Teodoro Campo said.

URBAN VIOLENCE The FARC, the Revolutionary Armed Forces of Colombia, are leftist rebels waging war here for nearly 40 years. Guerrilla tactics common in the countryside have recently made their way to urban centers, bringing a decades-old war to the cities in random incidents that sometimes appear to have no particular target. The rebel group denied responsibility for a Feb. 7 car bomb that killed 37 people at an exclusive social club. Other recent urban attacks have included a laptop bomb left in December at a hotel frequented by politicians, and mini-rockets launched at the federal prosecutor's office in November.

Tuesday's attacks were against Transmilenio buses, a transportation system inaugurated just two years ago that shuttles 800,000 people a day in designated lanes. Police said gasoline-filled bottles were left on three of the 470-bus fleet. Police confiscated Coca-Cola containers with an unusual substance inside, police Col. Marco Antonio Pedreros said. Two women allegedly seen planting the devices were arrested.

''We saw the bus was parked and started to light up,'' transportation worker Jenny Correa told local TV reporters. ``There were about 35 or 40 people on board. There was desperation, and they started to run.'' Everyone was evacuated safely. A similar bomb was found on a Transmilenio bus in January. And in December, authorities announced they had learned of a FARC plan to bomb 80 buses.*** STATIONS SEARCHED Transportation officials stressed that all 61 Transmilenio stations were being searched and that bus service would not be suspended. City leaders urged commuters to continue using the shuttle system. [End]

Venezuela's severe contraction*** Venezuelan President Hugo Chavez may have triumphed over the opposition-led national strike that ended last month, but the country's economy has been badly wounded. The Venezuelan subsidiary of Spanish bank BBVA, called Banco Provincial, predicted the country will suffer the largest economic contraction in its history and that oil production will be seriously hampered. The bank's projections help clarify Venezuela's economic conditions, since the assessments made by the government and private sector (which is often aligned with the opposition) have varied widely, and have sometimes been regarded as too subjective.

Washington is observing Venezuela's economic development closely. Last year, Venezuela supplied America with 13 percent of its crude oil imports. The severe economic problems could signal unabated instability and further disruptions in oil production. According to Banco Provincial, in the first quarter of this year, Venezuela's economy will shrink 40 percent and oil sector activity will drop by 69 percent. To put this in perspective, this slowdown would be more severe than America's sharpest Great Depression contraction. The bank also said that the non-oil sector would contract by 33 percent and the unemployment rate would rise to 25 percent from the official rate of 18 percent. ***