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Business 17 Jul 2009 | 12:00 AM

Rio Tinto: bribery allegations without foundation

ADELAIDE: Bribery allegations against four Rio Tinto Ltd. employees detained in China are wholly without foundation, the mining giant said Friday, as Australia continued to press Beijing for details of a case that is straining ties between the two nations.

Business 29 Jul 2009 | 12:00 AM

Watchdog: SEC fulfilled duty in Stanford case

WASHINGTON: The Securities and Exchange Commission had been actively investigating the banking business of billionaire R. Allen Stanford for more than three years before Bernard Madoff's pyramid scheme came to light last December and has fulfilled its duty to pursue alleged wrongdoing by the financier, the agency's inspector general has found.

Business 12 Aug 2009 | 12:00 AM

Australia to China: Give Rio Tinto exec a lawyer

SYDNEY: Australia is urging China to let a Rio Tinto executive accused of bribery and stealing commercial secrets to consult a lawyer now that he's been formally arrested.

Business 17 Aug 2009 | 12:00 AM

BHP Billiton: Market should set price for iron ore

SYDNEY: A senior executive at mining company BHP Billiton says the way iron ore is priced should be more transparent, and that such a reform could help prevent situations like one that led to four Rio Tinto employees being arrested in China on commercial spying charges.

Business 17 Aug 2009 | 12:00 AM

BHP wants transparent iron ore pricing

SYDNEY: Mining giant BHP Billiton called yesterday for a more transparent system of pricing iron ore to replace the current system of negotiation.

Business 19 Aug 2009 | 12:00 AM

Australia, China ink US$41bil natural gas deal

SYDNEY: Chinese energy giant PetroChina Co. on Tuesday signed a deal to buy 50 billion Australian dollars ($41 billion) worth of Australian liquefied natural gas over the next 20 years, Australia's government said.

Business 19 Aug 2009 | 12:00 AM

Australia-China sign biggest trade deal ever worth US$41bil

SYDNEY: An Australian dollars 50 billion (US$41 billion) deal for China to buy Australian natural gas shows current diplomatic tensions between the two countries will not trump their commercial interests, officials said Wednesday.

Business 18 Dec 2009 | 12:00 AM

M&A due diligence and Foreign Corrupt Practices Act

IN a downturn, the likelihood of fraud increases and financial integrity concerns are more frequently uncovered.

Business 02 Mar 2010 | 12:00 AM

BAE Systems pleads guilty to conspiracy, fined US$400mil

WASHINGTON: British-based Defense company BAE Systems PLC pleaded guilty to conspiracy on Monday, and a judge imposed a US$400 million fine, among the largest in the Justice Department's efforts to combat overseas corruption in international noshade size=-1 width=50%>

Business 09 Mar 2010 | 12:00 AM

Shell, PetroChina offer US$3b for Arrow

PERTH: Royal Dutch Shell and PetroChina made a joint bid for Australia's Arrow Energy in a deal worth at least US$3bil, marking a Chinese firm's first foray in the country's burgeoning coal seam gas sector.