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Swiss investigating SBM Offshore subsidiaries over past corruption
  + stars: | 2020-11-30 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
AMSTERDAM (Reuters) - Swiss authorities said on Monday they had launched a criminal investigation into three subsidiaries of Netherlands-based SBM Offshore for allegedly failing to prevent past corruption of foreign government officials. SBM has paid hundreds of millions of dollars (euros) over the past decade to settle bribery cases in the Netherlands, Brazil and the United States. No individuals were named by either SBM or the Swiss officials, but SBM’s chairman from 2005 to 2015 was a Swiss national. Authorities, SBM said in a statement. SBM Offshore spokesman Aarne Luten “it is too early to comment” on a possible provision for a potential fine by Swiss authorities.
Persons: SBM, ” SBM, Erik Lagendijk, Aarne Luten Organizations: Swiss, General’s, Reuters, U.S . Authorities, SBM Offshore Locations: AMSTERDAM, Netherlands, Brazil, United States, Swiss, Equatorial Guinea, Angola, U.S, Switzerland, Amsterdam
SINGAPORE — Investments in China's massive infrastructure project in 2020 could fall "well short" of last year's level as the coronavirus pandemic caused financial strains in participating countries, according to Moody's Investors Service. So certainly, this year, we've seen a rise in credit stress that we don't expect to go away in 2021. The Moody's report said some BRI participating countries have sought financing support from the International Monetary Fund or debt relief from G-20 lenders, including China. Moody's named China Development Bank and Export-Import Bank of China as having "significant exposure" to projects under the initiative. Moody's estimated that fresh Chinese-led investment flows into participating countries may not return to levels seen in 2014-2019 in the next two years.
Persons: Greg Baker, Michael Taylor, we've, Taylor, CNBC's, Moody's Organizations: SINGAPORE — Investments, Moody's Investors Service, Initiative, Workers, AFP, Getty, , International Monetary Fund, China Development Bank, Export, Import Bank of China Locations: SINGAPORE, China, Asia, Europe, Africa, Beijing, Moody's, Pakistan, Zambia, Tanzania, Angola
Sales kickoffs can be an incredible tool or they can fall incredibly flat when it comes to engaging sales teams— especially when teams are working from home. On December 10, 2020, Salesforce will host a free digital event to discuss how to plan an inspiring sales kickoff. Registration for "5 Must-Haves for the Ultimate Sales Kickoff" is now open — register below. Register now to hear how to plan the ultimate virtual sales kickoff event. But not all sales kickoffs are effective and it can be even more challenging to inspire sales teams remotely.
Persons: Salesforce, Ascension, Tristan da Cunha, Nevis Saint Lucia Saint Martin, Saint Pierre, Miquelon, Miquelon Saint Vincent, Megan Allen, Jenna Dunkle, Lisa McCarthy Organizations: Albania Algeria American, Albania Algeria American Samoa Andorra Angola Anguilla Antarctica, Barbuda Argentina Armenia Aruba Australia, Ocean, Cayman Islands Central, Democratic, Cook, Costa Rica Côte, Croatia, Croatia Cuba Curaçao, Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica, Vatican, Democratic People's, Democratic Republic Latvia, Democratic Republic Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macao, Republic of Monaco Mongolia Montenegro, Occupied Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Réunion Romania, Rwanda Saint, Tristan da Cunha Saint Kitts, Nevis Saint Lucia, Miquelon Saint, Grenadines Samoa, Grenadines Samoa San Marino, Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles, Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Sint, Jan Mayen Swaziland Sweden Switzerland Syrian, Leste, Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States United States Minor Outlying, British Virgin Islands, Wallis, Sahara Yemen Zambia Zimbabwe Yes, Inc, Forward, Insider Studios Locations: Afghanistan Åland, Albania, Albania Algeria American Samoa Andorra Angola Anguilla, Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua, Barbuda Argentina Armenia, Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia, Plurinational State, Bonaire, Sint Eustatius, Saba Bosnia, Herzegovina Botswana Bouvet Island Brazil, Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape, Cayman, Republic Chad Chile China, Keeling, Colombia Comoros Congo Congo, Democratic Republic, Costa Rica, Croatia Cuba, Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti, Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland, Fiji Finland France French Guiana French Polynesia, Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe, Guatemala Guernsey Guinea Guinea, Bissau Guyana Haiti, McDonald, Vatican City State, Honduras Hong Kong Hungary Iceland India Indonesia Iran, Islamic Republic of Iraq Ireland, of Man Israel Italy, Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea, Democratic People's Republic of Korea, Republic of Kuwait Kyrgyzstan Lao, Democratic Republic Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg, Democratic Republic Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macao Macedonia, Yugoslav Republic of Madagascar Malawi Malaysia Maldives Mali Malta Marshall, Martinique Mauritania Mauritius Mayotte Mexico Micronesia, Federated States, Moldova, Republic of Monaco, Republic of Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk, Mariana, Norway Oman Pakistan Palau Palestinian Territory, Occupied Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal, Occupied Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Réunion Romania Russian, Rwanda Saint Barthélemy Saint Helena, Nevis, Grenadines Samoa San, Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia, Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone, Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten, Slovakia Slovenia Solomon, Somalia South Africa South Georgia, Sandwich Islands, Sudan Spain Sri Lanka Sudan Suriname Svalbard, Jan Mayen Swaziland Sweden Switzerland, Jan Mayen Swaziland Sweden Switzerland Syrian Arab Republic Taiwan, Province of China Tajikistan Tanzania, United Republic of Thailand Timor, Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks, Caicos Islands Tuvalu Uganda Ukraine United, Uruguay Uzbekistan Vanuatu Venezuela, Bolivarian Republic, Viet, Virgin Islands, British Virgin, U.S, Futuna, Sahara Yemen Zambia Zimbabwe, Salesforce
New Trump rule may require some African tourists to pay up to $15,000 in bonds
  + stars: | 2020-11-23 | by ( Ted Hesson | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Carlos BarriaWASHINGTON (Reuters) - The outgoing administration of U.S. President Donald Trump on Monday issued a new temporary rule that could require tourist and business travelers from two dozen countries, most in Africa, to pay a bond of as much as $15,000 to visit the United States. Trump, who lost a re-election bid earlier this month, made restricting immigration a central part of his four-year term in office. The visa bond rule will allow U.S. consular officers to require tourist and business travelers from countries whose nationals had an “overstay rate” of 10% or higher in 2019 to pay a refundable bond of $5,000, $10,000 or $15,000. Historically, U.S. consular officers have been discouraged from requiring travelers to the United States to post a bond, with State Department guidance saying processing of the bonds would be “cumbersome,” the temporary rule said. Countries whose tourist and business travelers could be subject to the bond requirement include those from Democratic Republic of Congo, Liberia, Sudan, Chad, Angola, Burundi, Djibouti and Eritrea.
Persons: Donald Trump, Alex Azar, Carlos Barria WASHINGTON, Trump, Joe Biden Organizations: HHS, White, REUTERS, U.S, U.S . State Department, Democrat, Republican, State Department, Democratic Locations: Brady, Washington , U.S, Africa, United States, Democratic Republic of Congo, Liberia, Sudan, Chad, Angola, Burundi, Djibouti, Eritrea, Afghanistan, Bhutan, Iran, Syria, Laos, Yemen
World Bank warns G20 against doing too little now to address debt problems
  + stars: | 2020-11-21 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File PhotoWASHINGTON (Reuters) - World Bank President David Malpass on Saturday warned G20 leaders that failing to provide more permanent debt relief to some countries now could lead to increase poverty and a repeat of the disorderly defaults seen in the 1980s. Malpass said he was pleased by progress on debt transparency and debt relief, but more needed to be done. “The debt challenges are becoming more frequent, including in Chad, Angola, Ethiopia and Zambia where, in the absence of more permanent debt relief, the poverty outlook remains bleak,” he said in remarks to a summit of leaders of the Group of 20 major economies.
Persons: Johannes P, David Malpass, Malpass, Organizations: Bank, International Monetary Fund, REUTERS, WASHINGTON Locations: Nusa Dua, Bali, Indonesia, Chad, Angola, Ethiopia, Zambia
World Bank warns G20 against doing too little to tackle debt problems
  + stars: | 2020-11-21 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: +2 min
FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. “Debt reduction and transparency will enable productive investment, a key to achieving an earlier, stronger and more lasting recovery,” Malpass told G20 leaders during a videoconference meeting. Some countries, including China, have remained reluctant to embrace the need for debt cancellation, although top economists say that will likely be needed in some cases. Private sector creditors have also failed to join in, despite repeated calls by G20 leaders, civil society groups and the United Nations. In Sudan, he said he was hopeful that arrears clearance could move quickly, especially given the inflow of refugees from neighboring Ethiopia, which would allow substantial World Bank funding to begin flowing almost immediately.
Persons: David Malpass, Johannes P, Malpass, ” Malpass, Organizations: WASHINGTON, Bank, International Monetary Fund, REUTERS, Group, United Nations, West Bank, United Locations: Nusa Dua, Bali, Indonesia, Latin America, Chad, Angola, Ethiopia, Zambia, China, Somalia, Lebanon, Gaza, Sudan, United States
FILE PHOTO: An oil tanker unloads crude oil at a crude oil terminal in Zhoushan, Zhejiang province, China July 4, 2018. For the last few months, that pushed the prices of key crude grades lower, allowing Chinese buyers to take advantage. These come on the back of firmer Middle East crude prices, which makes up the baseload of Asia’s demand. “Chinese demand is more visible now,” one trader in the Russian Far East crude oil market told Reuters. One senior Chinese trader said heavier crude grades, such as in West Africa, were seeing less robust demand.
Persons: pare, Stringer China, “ Lockdowns, Shaheen, Russia’s, refiner, Africa’s, Dalia Organizations: REUTERS, Royal, Shell, RDSa.L, International Energy Agency, East Houston WTC, Reuters, Locations: MOSCOW, LONDON, China, Russia, United States, Angola, Zhoushan, Zhejiang province, Gulf Coast, Asia, Europe, East Houston, Qatar, Russian, Middle East, Dubai, West Africa, Cabinda, Girassol
michael barbaro From The New York Times, I’m Michael Barbaro. michael barbaro And what are the general features of these lockdowns that occurred, as you said, pretty much at the same time? michael barbaro Matina, from what you’re describing, this sounds like a continent that is largely accepting this second wave of lockdowns. michael barbaro Right, which means that people are likely to keep following them, because there’s an immediate reward for abiding by these rules. michael barbaro Mitch, is there a version where this patchwork approach can somehow work, that it can flatten the curve?
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