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Tag: uzbek
World Bank urged again to end Uzbek loans over cotton labour
2016-03-09 11:49:00| Daily apparel & textile news and comment - from just-style.com
Uzbekistan human rights advocates have petitioned the World Bank, calling on it to suspend payments to the government until it stops the use of forced labour in the cotton sector.
2 telecommunications companies admit to Uzbek bribery conspiracy
2016-02-21 10:18:35| Telecom - Topix.net
Amsterdam-based VimpelCom Limited, the world's sixth-largest telecommunications company and an issuer of publicly traded securities in the United States, and its wholly-owned Uzbek subsidiary, Unitel LLC, entered into resolutions with the Department of Justice Thursday. The companies engaged in a conspiracy where they made bribery payments of more than $114 million to a government official in Uzbekistan between 2006 and 2012.
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VimpelCom settles Uzbek case with US, Netherlands
2016-02-19 09:03:00| Telecompaper Headlines
(Telecompaper) Russian mobile operator VimpelCom has announced settlements with the US Securities and Exchange Commission (SEC), the US Department of Justice (DOJ), and the Dutch Public Prosecution Service (Openbaar Ministerie, or OM) around allegations it paid bribes in Uzbekistan to win business.
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VimpelCom close to US settlement of Uzbek case - report
2015-11-26 09:01:00| Telecompaper Headlines
(Telecompaper) VimpelCom is in talks to pay about USD 775 million to settle US allegations it paid bribes in Uzbekistan to win business, three people familiar with the matter told Bloomberg. The resolution with the Justice Department and the Securities and Exchange Commission could be announced in January, the report said. Vimpelcom took a charge of USD 900 million in the third quarter to cover any eventual costs from the Uzbekistan investigation, which is also underway in Sweden, Switzerland and the Netherlands. The Justice Department, in a civil forfeiture complaint filed earlier this year in New York, alleged VimpelCom, which is traded on the Nasdaq exchange, and a rival company made more than USD 500 million in corrupt payments in order to obtain a licence in Uzbekistan. No company or person has been publicly charged as part of the US and European investigations. A spokesman for VimpelCom declined to comment on the potential settlement.
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VimpelCom Posts $1 Billion Loss After Uzbek Bribery Provision
2015-11-06 18:37:03| Telecom - Topix.net
VimpelCom Ltd. swung to a quarterly loss after making a $900 million provision to cover potential U.S. and Dutch fines over bribery allegations in Uzbekistan. The carrier made a net loss of $1 billion in the third quarter, compared with a $105-million profit a year earlier, Amsterdam-based VimpelCom said in a statement Friday, citing figures excluding Italian operations.
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