By MarEx 2017-12-01 18:15:15 SBM Offshore, the Netherlands-based company specializing in the manufacture and design of offshore oil drilling equipment, and its wholly owned U.S. subsidiary, SBM Offshore USA Inc., have agreed to resolve criminal charges and pay a criminal penalty of $238 million in connection with schemes involving the bribery of foreign officials in…

Angola is hosting 1,440 election observers in parts of the country to monitor the August 23 general elections. 1,200 of the observers are from the international community while 240 are local observers who have registered with the electoral commission, Chairperson of the National Electoral Commission (CNE), André da Silva Neto said on Tuesday in Luanda…

By NORIMITSU ONISHI LISBON — How the roles have reversed: The colonizer, some Portuguese contend, has been colonized. On the Portuguese coast of Cascais, where the nation’s royal court used to summer, a new 14-story condominium building looms confidently by the sea. So many of its apartments have been bought by Angola’s ruling class —…

Angolans go to the polls on Wednesday to pick their first new president in decades, but money-laundering and bribery cases in Portugal are raising questions about the ability of Africa’s No. 2 oil producer to tackle corruption and right its economy. By Gabriele Steinhauser in Luanda, Angola, and Patricia Kowsmann in Lisbon João Lourenço, the…

By The Economist The ruling party will probably win the coming election, but corruption is weakening it IT IS fitting that the black-and-red flag of Angola is hardly distinguishable from that of its ruling party. The People’s Movement for the Liberation of Angola (MPLA) has led the country since independence from Portugal in 1975. At…

By AFP Washington (AFP) – Oil field services giant Halliburton will pay nearly $30 million to resolve allegations of bribery in Angola, US regulators announced Thursday. Former Halliburton vice president Jeannot Lorenz also agreed to pay a $75,000 fine for falsifying the company’s books and circumventing internal controls, the Securities and Exchange Commission said in…

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