Rolls-Royce in talks over possible bribery, corruptionDecember 6, 2012 - 13:18 AMT PanARMENIAN.Net - Rolls-Royce has said that it is in talks with the Serious Fraud Office over possible bribery and corruption. "It is too early to predict the outcomes, but these could include the prosecution of individuals and of the company," the British firm said. The aircraft engine manufacturer said it had passed on information about alleged malpractice by intermediaries. It followed a request from the SFO for information about alleged malpractice in Indonesia and China. Rolls-Royce said it was cooperating fully with the investigation. "I want to make it crystal clear that neither I nor the board will tolerate improper business conduct of any sort and will take all necessary action to ensure compliance," said chief executive John Rishton."This is a company with exceptional prospects, and I will not accept any behavior that undermines its future success." The company said that it had recently instituted a new ethics code of conduct, and would be hiring an independent consultant to carry out a review of its current procedures. Rolls-Royce is a major international player in civil aerospace and defense, and employs over 40,000 people in 50 countries. It is the world's second largest manufacturer of aircraft engines after General Electric. China and Indonesia were ranked 80 and 118 respectively out of 174 countries in the corruption perceptions index published by Transparency International on Wednesday, Dec 5, ranking from the least down to the most corrupt. Shares in the company fell 5% at the start of trading in London on Thursday. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |