Friday, January 24, 2020

Business / DT 18 / 2009

Norconsult chooses to stand trial, aims to clear its name

The consultancy firm Norconsult refuses to accept a NOK 4 million fine for corruption related to a World Bank-funded water project in Tanzania. “In our opinion, there is no basis for the fine and we will try the case in court,” says Managing Director John Nyheim.

FCG merges activities in Finland, aims to expand in aid market

The Finnish Consulting Group has merged its Finnish-based companies and aims to expand in the international aid market.

World Bank fails to provide facts about why it pulled out of Bugoye

Almost one and a half years after the World Bank pulled out of the Bugoye hydropower project, claiming two Norwegian companies represented a reputational risk, the Bank has still not yet given the firms a sufficient explanation.

Cites negative impacts of phasing out tax havens

A unilateral phasing out of tax havens as a tool for investment in developing countries would seriously hamper Norfund’s ability to mobilise capital for investments in renewable energy in least developed countries in Africa and other regions.