Category: Export Credit

Deadly earthquake in China may be aftershock of 2008 Wenchuan quake

(April 21, 2013) The strong earthquake that struck China’s mountainous Sichuan province Saturday morning may have been an aftershock, says prominent Chinese geologist, Fan Xiao. The accumulation of stress had not yet been fully released, making this region a more dangerous area after the May 2008 Wenchuan earthquake.

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SNC-Lavalin executive reveals illegal political donations before corruption inquiry

(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.

Corruption, bribery, baksheesh! Rooted in government

(February 6, 2013) Foreign Affairs Minister John Baird has announced get-tough-on-corruption amendments to the Corruption of Foreign Public Officials Act (CFPOA). Pat Adams, head of Probe International in Toronto, sees the announcement as Canada’s response to pressure from the Organization for Economic Co-operation and Development (OECD). “Canada is supposed to report back on deficiencies in its anti-corruption laws by March of this year. This appears to fix the deficiencies,” she says.

SNC-Lavalin corruption case: new court date set but plea for speedy trial dismissed

(January 28, 2013) India’s Central Bureau of Investigation (CBI) told its special court last month that two of the accused in the notorious SNC-Lavalin hydro-dam graft case were “interfering” with the court’s decision to secure the presence of Klaus Triendl, the former vice-president of Canadian engineering giant SNC-Lavalin and the sixth accused in the case. The two accused in question had requested the charge sheet be divided in order to facilitate the speedy trial of those who had already answered the summons of the court in connection with the case. The court has since dismissed their plea, however, saying there was no reason to think that the presence of Triendl could not be obtained within a reasonable time and set April 24, 2013 as the new date to hear the corruption case.

Immunity from scrutiny: Canada’s Access to Information Act hobbles democracy

(January 7, 2013) Canada’s Access to Information Act perversely gives Export Development Canada (EDC) the legal power to keep records of its operations secret, charges Probe International. In its submission to the Office of the Information Commissioner’s review of Canada’s 30-year-old Access to Information Act, Probe International declares it is time to reform the Act and remove EDC’s extraordinary privileges.