Tag: blacklisted

Norway fund blacklisted China ZTE on corruption charges

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article image AFP: The world's biggest sovereign wealth fund, Norway's public pension fund, has divested from Chinese telecom equipment maker ZTE because of corruption fears, the Norwegian central bank which manages the fund saidon Thursday. An ethics council that advises the central bank on the fund's investments said ZTE was facing corruption allegations in 18 countries and the group was or had been under investigation in 10 of them. "The council has concluded that the company has failed to…Read More

Blacklisted Chinese firm eyeing wind power sector

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article image STAFF REPORT ISB: After being blacklisted in public sector by PPRA, Chinese company, Dongfang Electric Corporation (DEC), is now eyeing private sector for energy generation projects. According to sources, Burj Wind Energy, a project of Burj Capital, has applied for the grant of generation licence in Nepra for a 13.5 MW Wind Power Project in Gujju, Sindh. The company has acquired private agriculture land around 250 acres on lease of 20 years at Gujjo, Pir Jharion, Thatta, Sindh, which…Read More