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from Global Investing:

Corruption and business potential sometimes go together

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By Alice Baghdjian

Uzbekistan, Bangladesh and Vietnam found themselves cheered and chided this week.

The Corruption Perceptions Index, compiled by Berlin-based watchdog Transparency International, measured the perceived levels of public sector corruption in 176 countries and all three found their way into the bottom half of the study.

Uzbekistan shared 170th place with Turkmenistan (a higher ranking denotes higher perceived corruption levels) . Vietnam was ranked 123th, tied with countries like Sierra Leone and Belarus, while Bangladesh was 144th.

Those findings are unlikely to surprise. But consider this. All three countries are said to boast some of the best prospects for business and growth over the next two decades. That's according to the findings of a separate study released in the same week.

from Financial Regulatory Forum:

Canada’s Anti-Bribery Cops Reel One In

By John Mackie

TORONTO, July 22 (Business Law Currents) - Though Canada has had foreign bribery legislation in effect for over a decade, prosecutions have proven very few and very far between. So it remains to be seen whether the recent guilty plea by Calgary’s Niko Resources under Canada’s Corruption of Foreign Public Officials Act marks a scaling-up of Canadian efforts on this front, or just another blip on the radar screen.

Canada’s Corruption of Foreign Public Officials Act (CFPOA) entered into force on February 14, 1999. The Act contemplates prosecutions in respect of three offences: bribing a foreign public official, laundering property and proceeds, and possession of property and proceeds. In addition, the CFPOA enables prosecutions for conspiracy, aiding and abetting, counselling, and the like.

from Global News Journal:

Croatia must read European Union signals carefully

The European Commission told Croatia this week that its negotiations to join the European Union have reached their "final" stage. Sounds promising, considering how reluctant many EU governments are to admit any new members at a time when the bloc is coping with financial difficulties.

But there was another, more subtle message in the text of the Commission's annual progress report on EU hopefuls. And it read quite  differently.

from The Great Debate UK:

Afghanistan challenge is not to create “western-style” democracy

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Ahmadshah.1

- Ahmad Shah is a Afghan social entrepreneur and human rights activist living in London. He is currently studying MSc in International Business Economics at the University of Westminster. The opinions expressed are his own. -

An oft-heard refrain holds that Afghanistan is a “graveyard of empires” where corruption and violence are endemic; a land that never had a strong central government, and cannot be democratised. While perhaps flattering to Afghan pride of strength, these half-truths bear little relation to reality.

from Commentaries:

Russia’s shocking corruption belies Medvedev’s tough rhetoric

Everyone knows that Russia is corrupt, but did you know just how corrupt? The short answer is: more than any other country. That, at least, is the conclusion of a survey just published by PricewaterhouseCoopers, which examines the level of economic crime around the world.

 

PwC canvassed more than 3,000 companies in 55 countries, 89 of them in Russia. It asked them if they had been the victim of frauds such as embezzlement, bribery and crooked accounting. Russia topped the list, with 71% of respondents reporting at least one instance of fraud during the previous twelve months.

from Africa News blog:

Can Africa beat corruption?

cpi_2008_cmyk-africa.jpgTransparency International's annual corruption report card is out and there is little surprise that many African countries are well towards the bottom of the Corruption Perceptions Index.

Somalia is at 180 out of 180. Six of the 10 worst offenders are African states. The best placed African country, Botswana, is at 36 (up from 38 last year).

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