Search Results for: International business⊂mit=Search

BY MARK ROWE
THE LOCATION of Afghanistan’s national museum in a southern Kabul suburb must have been idyllic when it opened in 1931, set against a pastoral backdrop of farmland and mountains. The museum was once one of the richest cultural repositories in the world, home to a collection of the most elegant antiquities from the Ashokan, Greek, Buddhist, Zoroastrian and Muslim periods.…

BY ALAN OSBORN
AT FIRST sight, the European Commission’s new proposals for guarding against future outbreaks of foot and mouth disease, and tackling them if they do, occur seem eminently reasonable from the farmer’s point of view. Not a lot of detail is yet known, and in any event ministers will have their say, but it seems the Brussels authorities have learned the right lessons from last year.…

BY KEITH NUTHALL
THE PRACTICE of allowing companies to deduct bribes paid to secure contracts overseas from their domestic tax bills is still widespread, with a United Nations report saying it was allowed in 50 per cent of countries surveyed. The paper on how the organisation’s 1996 declaration against Corruption and Bribery in International Commercial Transactions said that it was however banned in Bulgaria, Canada, the Czech Republic, Germany, Iceland, Nigeria, Norway, Slovenia, South Africa, Sweden, Switzerland and the UK.…

BY KEITH NUTHALL
THE WORLD Bank’s International Finance Corporation will provide US$30 million to help LASMO Oil Pakistan Ltd, a subsidiary of Lasmo plc, (acquired by Italy’s ENI SpA in 2001), to develop Pakistan’s Bhit natural gas field, 150 km north of Karachi, at a cost of US$283 million.…

BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation is investing US$10 million to develop the Etame offshore oil field in Gabon, channeling money through project operator, VAALCO Etame (Gabon) Inc., owned by Houston-based VAALCO Energy. Initial daily production of up to 15,000 barrels is expected in late 2002.…

BY KEITH NUTHALL
AN INTERNATIONAL Labour Organisation meeting has issued detailed recommendations on how to improve industrial relations in the oil and gas production and refining industries. The paper concludes that industrial relations in the sector will become more complex as it juggles environmental and social concerns with cost reduction.…

BY ALAN OSBORN
THE EUROPEAN Commission is “continuously monitoring” developments involving the accountancy firm Andersen following the collapse of the proposed merger between the firm’s non-American operations and those of KPMG, officials have told Accountancy Age.

Brussels is concerned about the implications if Andersen’s practices are picked up piecemeal by local or international firms; if parts of Andersen were sold off to other major accountancy

firms on a local basis this “could justify an inquiry” but each case would be judged on its own merits, the official said.…

BY MONICA DOBIE, in Montreal
DORVAL International Airport in Montreal, Canada, is to undergo a CAN$460-million expansion plan in order provide extra passenger capacity. The first stage will see 17 new gates for international use at a cost of CAN$300-million that will be completed by next spring.…

BY ALAN OSBORN
A PAPER released yesterday (Thursday) by the financial services of the European Commission says that supervision of the EU audit profession “must be enhanced” in the wake of the Enron disaster. “There are currently no agreed auditing standards in the EU and no European mechanism to deal with such supervision,” the paper notes, adding that the Commission will present later this year a Communication (discussion paper) on auditing strategy.…

BY KEITH NUTHALL
THE WORLD Bank is lending China US$104 million to treat tuberculosis sufferers, strengthening its National TB Control Programme. The money will be complemented by a UK Pounds 28.3 million grant from the UK’s Department for International Development, which will help Beijing manage this expansion, notably by allowing the bank loan to be on-lent to China’s provinces at a concessional rate.…