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ATA - RETRO event in Korça/A collection of old cars, an attraction of tourists
TIRANA, August 22/ATA/-The RETRO car exhibition in Korça, where collectors have showcased their historical cars, has created a fantastic atmosphere...
NNA - آشلي بولانكو عيسى من الدومينيكان تتربع على عرش الاغتراب لعام 2019
وطنية - توجت ملكة جمال المغتربين اللبنانيين في جمهورية الدومينيكان آشلي بولانكو موديلو عيسى ملكة جمال المغتربين اللبنانيين للعام 2019، وحلت ملكة جمال المغتربين اللبنانيين في كندا مايسي يعقوب...
ATA - Albanian feature film 'Open Door' premiered in main competition of Sarajevo Film Festival
TIRANA,Aug 22/ATA/–Albanian feature film “Open Door” by the young filmmaker Florenc Papa will be screened in the main competition of...
NNA - اختتام الملتقى الكشفي العربي للاعلامي الصغير
وطنية - اختتم "الملتقى الكشفي العربي الرابع للاعلامي الصغير" اعماله اليوم، برعاية وحضور وزير الشؤون الاجتماعية الدكتور ريشار قيومجيان، والذي نظمه الاقليم الكشفي العربي في المنظمة الكشفية العالمية بالتعاون مع...
ATA - Exports to Spain increased 42% in July this year
TIRANA,Aug22/ATA/-Albania has significantly increased exports with Spain during July this year, compared to July 2018.
According to INSTAT, exports of Albanian...
NNA - فكار اغترابية أوستراليا ونادي الشرق كرموا أدباء وشعراء ممثل
وطنية - نظم "نادي الشرق لحوار الحضارات" احتفالا تكريميا لأدباء وشعراء، مقيمين ومغتربين، أقامته "أفكار اغترابية للادب الراقي - أوستراليا" بعنوان "مبدعون من بلادي"، في مناسبة زيارة وفد اغترابي للبنان...
ATA - Number of foreigners living and working in Albania is up 9,7%
TIRANA, Aug 22 /ATA/- Over 14 thousand foreigners have chosen to live and work in Albania.
Statistics Institute published Thursday the...
NNA - لبنان ثالثا في بطولة غرب آسيا لكرة الطاولة
وطنية - شارك لبنان في بطولة غرب آسيا لفرق كرة الطاولة التي أقيمت في العاصمة الأردنية بكافة فئات الفرق المعتمدة إضافة إلى دول سوريا، الأردن، البحرين، الإمارات العربية المتحدة، السعودية...
Lusa - Business News - Portugal: Ryanair 'must observe labour, strike law' during stoppage - government
Lisbon, Aug.23,2019 (Lusa)–Portugal’s government said on Friday that Ireland-based airline Ryanair is not exempt "from having to comply with the...
Lusa - Business News - Mozambique: Government invites Ematum bondholders to accept debt restructuring
Maputo, Aug. 23, 2019 (Lusa) – Mozambique’s government announced on Friday that it would be inviting the bearers of Eurobonds...
Lusa - Business News - Portugal: PSI20 closes Friday down 1.33%
Lisbon, Aug.23,2019 (Lusa)-The Lisbon Stock Exchange ended Friday’s session with a decline in the PSI20 index of 1.33% to 4,792.47...
CNA - اطلاق موقع الكتروني للأعمال الفنية المفقودة منذ الغزو التركي 1974
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
تم اليوم إطلاق موقع إلكتروني للأعمال الفنية القبرصية المفقودة منذ عام 1974، في محاولة لتحديدها وإعادتها إلى أصحابها الشرعيين. ...
Lusa - Business News - Macau: GDP declines 2.5% in H1, 2019
Macau, China, Aug. 23, 2019 (Lusa) - The Macau government admitted on Friday that the territory's economy may continue to...
CNA - السلطات القبرصية تؤكد ظهور حالة أخرى من فيروس غرب النيل وأخرى قيد التحقق
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
قالت اليزابيث قسطنتينو المسؤولة الكبيرة في وزارة الصحة أنه لا يزال هناك أربعة أشخاص يتلقون العلاج في قبرص بسبب فيروس...
Lusa - Business News - Mozambique: Japan loans €40.6M for maintenance of Maputo electricity plant
Maputo, Aug. 23,2019(Lusa)-Japan lent the equivalent of €40.6 million to Mozambique on Friday for maintenance and management of the Maputo...
CNA - المتحدث الرسمي باسم الحكومة: تصريحات اردوغان حول قبرص تعكر الأجواء
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
قال المتحدث الرسمي باسم الحكومة برودروموس برودرومو أن التصريحات التي أدلى بها الرئيس التركي رجب طيب اردوغان بشأن القضية القبرصية، "أدت...
CNA - وزارة الداخلية تمول مشاريع صغيرة مدروسة للإدارات المحلية في الجزيرة
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
صرح وزير الداخلية قسطنطين بيتريدس أنه سيتم توزيع 4.7 مليون يورو على 103 بلدية وإدارة محلية في جميع أنحاء قبرص...
Lusa - Business News - East Timor: Veteran journalists call on new generation to work for development
Dili, Aug. 23, 2019 (Lusa) – Two East Timor journalists who 20 years ago played a role in the process...
Lusa - Business News - East Timor: Veteran journalists call on new generation to work for development
Dili, Aug. 23, 2019 (Lusa) – Two East Timor journalists who 20 years ago played a role in the process...
Lusa - Business News - Mozambique: US bank to provide €4.5B for natural gas projects
Washington, Aug. 23, 2019 (Lusa) - The US Export and Import Bank (EXIM) is to propose to the US Congress...
Lusa - Business News - Portugal: PSI20 opens 0.23% up at 4,867.41 points
Lisbon, Aug. 23, 2019 (Lusa) – The Lisbon stock exchange opened in positive territory on Monday with the main benchmark...
Lusa - Business News - Portugal: Top headlines on Friday
Lisbon, Aug. 23, 2019 (Lusa) – The fall-out from the last truckers’ strike and the planning against another one are...
Lusa - Business News - Mozambique: Privinvest suit 'likely bid to press authorities to drop case' - EIU




London, 15 May 2019 (Lusa) - The announcement that Privinvest, one of several companies involved in Mozambique’s ‘hidden debts’ scandal, is suing that country’s authorities is probably an attempt to pressure them to give up their case against it, according to analysts at the Economist Intelligence Unit.
Commenting on the announcement by Privinvest, experts from the EIU’s analysis unit write that they believe the aim of the move is to prompt the abandonment of the case against the Lebanese shipbuilding company "and prevent the disclosure of data that is negative" for both parties.
International litigation in this case would also be negative for Mozambique, the EIU note to customers argues, as it would bring into the public domain more information on opaque business practices in which rulers and leaders of the governing party, Frelimo, are deeply involved. There are also, it adds, "risks for Privinvest and its directors".
The Privinvest announcement, made in mid-April, represents “an escalation” in the dispute between the two sides, with major trade, economic and political dimensions.
In March, Privinvest moved to take legal action against the Mozambican state and three state-owned companies involved in the hidden-debt case, claiming that they had defaulted on at least $200 million (€176.9 million) relating to one of the contracts.
The suit against the state, lodged at an arbitral tribunal of Switzerland on 14 March, targets in particular the company Mozambique Asset Management (MAM), Privinvest announced on 15 April.
Privinvest states that Mozambique did not pay for goods acquired from it, so accusing the Mozambican state of breaking clauses in the equipment supply agreement and causing $200 million of damages to it.
“For three months or so, Privinvest has been largely silent in the face of a false narrative about its activities in Mozambique and it doesn’t wish to continue to be silent,” a company spokesman, Jeffrey Birnbaum told Bloomberg in April. “Privinvest has been inaccurately and unfairly portrayed in the media and elsewhere and will now set the record straight.”
The Center for Public Integrity (CIP), a non-governmental organization in Mozambique, has noted that in addition to processing MAM, Privinvest has also taken action against two other Mozambican state companies involved in the hidden-debts case: ProIndicus and EMATUM.
Privinvest and its subsidiaries were the only suppliers contracted by Mozambique for shipbuilding projects worth more than $2 billion (€1.769 billion), for which the country obtained or guaranteed loans in 2013 and 2014 without informing parliament or donors such as the International Monetary Fund.
An independent international audit has found a lack of justification for more than $500 million of the loans, over-invoicing for goods and financial unworthiness of the companies involved.
US prosecutors have been investigating what they believe to have been a corruption scheme, and are awaiting the extradition of some of the suspects. Among these is the former finance minister Manuel Chang, who is currently detained in South Africa, the negotiator for Privinvest, Jean Boustani, and several bankers from Credit Suisse.
Mozambique's own prosecutors are also seeking Chang's extradition.

MBA/ARO // ARO.
Lusa



Agency : LUSA

Date : 2019-05-16 10:08:58







 

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