Norway places Siemens under observation and excludes Chinese company Dongfeng Motor Group from Government Pension fund - by Giovanni Legorano
The move comes as the German police are investigating allegations that Siemens had a €200m (US$260m) slush fund to help win overseas contracts.Norwegian minister of finance Kristin Halvorsen said: "Siemens are now in the public eye and the company has initiated a range of anti-corruption measures. By placing the company under observation we will contribute to keeping up the momentum on the anti-corruption efforts."
In addition, the ministry of finance has excluded the Chinese company Dongfeng Motor Group from the Government Pension Fund - Global, due to the fact the company sells military trucks to Burma. Halvorsen said: “We cannot finance companies that support the military dictatorship in Burma through the sale of military materials.”
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