Ex-Im is one of dozens of corporate welfare programs that should end. The Overseas Private Investment Corporation (OPIC), like Ex-Im, hurts domestic competitors, privileges big lenders and is also known to fund questionable projects. Reason.com reports.
Things are looking less sour for graft-tainted engineering giant SNC-Lavalin, which received a boost Monday when an analyst upgraded his rating and price estimate for the company’s stock following changes to the federal government’s procurement policy, announced in last week’s budget.
Media sources in India are following the Canadian government’s investigation of SNC-Lavalin with great interest.
Canadian aerospace giant Bombardier accused by South Korean prosecutors of making gifts to local officials in relation to a multibillion dollar metro elevated train project described as “more like a bus” in reality, a bus expected to cost Yongin taxpayers $3.5 billion over the next 30 years, including maintenance. CBC reports.
(March 10, 2014) Export Development Canada says it needs nearly a year to sort through a mountain of documents regarding its involvement in Libya.
(November 5, 2013) The alleged “culture of corruption” by SNC-Lavalin and others was encouraged by the government’s willingness to turn a blind eye.
(October 23, 2013) Don’t count on any government in Canada to hold SNC-Lavalin’s feet to the fire. Blinders on and taxpayers’ cash in hand, they’re willing to reward allegations of corruption with big, fat contracts, says Huffington Post’s Daniel Tencer.
(September 25, 2013) Canadian economist Patricia Adams questions why the Canadian Commercial Corporation has been trying to get the Trinidad and Tobago government to sign a deal with SNC-Lavalin.
(September 16, 2013) SNC-Lavalin’s decade-long scandal in India goes to trial.
(August 28, 2013) Proposed changes to regulations governing Export Development Canada don’t go far enough.
(August 21, 2013) Officials in Trinidad and Tobago are reconsidering the country’s involvement with corruption-plagued engineering firm SNC-Lavalin.
(August 3, 2013) A little-known Crown corporation is doing what it can to help corruption-plagued SNC-Lavalin get a lucrative contract in Trinidad and Tobago.
(June 27, 2013) The Kerala High Court has directed India’s Central Bureau of Investigation (CBI) to divide the SNC-Lavalin trial charge sheet so the trial can begin. Two of the nine accused, SNC-Lavalin VP Klaus Triendl and SNC-Lavalin itself, have failed to appear in court despite several summons. According to press reports, Indian authorities are now seeking the extradition of Mr. Triendl, but Canada’s Department of Justice won’t confirm or deny the existence of the extradition request “due to the confidential nature of state-to-state communications.”
(March 15, 2013) A vice-president from SNC-Lavalin, Canada’s largest engineering company, admitted yesterday before Quebec’s Charbonneau inquiry into corruption in public-works contracts, that it organized its employees to make more than $1 million in illegal political donations. While there was no direct link between the donations and a quarter-billion dollars in contracts the firm was awarded by the provincial government, Yves Cadotte insisted, the company did not want to take any chances.
(February 13, 2013) EDC environmental decisions virtually immune from judicial review. Crown corporation sets standards and can exempt projects on its own say so.