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The problem may be the .WORLD. Create the database link without the .WORLD. Check the sqlnet.ora for a paramater called something like '..domain_name...' and whose value is 'world'. When sqlnetV2 tries to resolve database link names (or service names, for that matter), it automatically appends the .<value> of the parameter in sqlnet.ora; therefore, as far as sqlnetV2 is concerned, your database link name is III.WORLD.WORLD, hence the error message.
I hope this helps.
Michael Serbanescu
Senior Consultant, MIACO Corporation