Bosnian President Alija Izetbegovic yesterday called a peace formula presented by the United States and its allies "totally unacceptable" and said his government will not participate in any "futile negotiations." In a statement read to reporters, Mr. Izetbegovic said the formula agreed to Saturday in Washington rewards Bosnian Serb aggression. "The aggressor is not going to withdraw from the occupied territories," he said. "And our people who have been evicted will not be allowed to return to their homes ." Iranian maneuvers

Iranian troops with armor and warplanes staged what Tehran called military maneuvers on the southern border with Iraq yesterday in the wake of attacks by Baghdad-based rebels. The official Islamic Republic News Agency said 8,000 infantry from the Revolutionary Guards Corps and an armored brigade, backed by artillery, helicopters and fighter jets, are taking part.

They were ostensibly to commemorate the May 24, 1982, liberation of the port city of Khorramshahr, 18 months after it had been captured by Iraqis. Cambodia elections

Despite threats by Khmer Rouge guerrillas, one-third of Cambodia's eligible voters eagerly pushed their way into polling stations Sunday on the first day of elections for a democratic government. UN officials said between 1.5 million and 2 million people voted Sunday in the country's first multiparty elections in two decades. The UN-organized election ends Friday. Venezuelan president

Economic analysts are predicting that the suspension of Venezuelan President Carlos Andres Perez will stall free-market reform, but won't hurt Venezuela's vital oil industry and foreign investment.

The Senate ordered a Supreme Court trial for Perez on Friday on charges of embezzling $17.2 million. Its action removed him from office during legal proceedings. He could face up to three years in prison if convicted. Afghanistan peace

Two weeks of fighting in and around the Afghan capital stopped yesterday, as Muslim guerrillas began adhering to the cease-fire their leaders signed last week. After daily barrages of about 80 rockets, only sporadic fighting and a few rocket strikes were reported in Kabul on Saturday and yesterday. Shooting trial

In Baton Rouge, La., the man on trial for fatally shooting a Japanese exchange student gave his account Saturday, saying he felt threatened and he "felt I had no other choice."

Rodney Peairs is charged with manslaughter in the death of 16-year-old Yoshi Hattori, who knocked on Mr. Peairs' door while looking for a party Oct. 17. The case attracted international attention. German strike settled

Negotiators for east German steelworkers and employers reached agreement early yesterday on a new contract to end a three-week strike. Under the deal, the wages of about 20,000 steelworkers in the former East Germany would gradually be raised to the levels of their western counterparts by April 1, 1996.

Eastern steelworkers' salaries are at 60 percent of western levels. More than 40,000 eastern metalworkers and steelworkers walked out of their jobs three weeks ago after employers scrapped an agreement that promised them western wages by next year. BU prospects TV channel

Boston University is exploring the possibility of acquiring WQTV, Channel 68, which is currently owned by The Christian Science Monitor Television Inc. The university is presently in a "due diligence" period of the discussion, studying all aspects of the proposition. Chinese bonds

Unable to attract voluntary buyers for its treasury bonds, the Chinese government ordered state and private enterprises to purchase $1.05 billion of them, The China Daily Business Weekly said yesterday.

Most enterprises will, in turn, require their employees to buy some of the bonds. The government needs the income to build infrastructure projects.

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