, No 12, Monday 20th June, 2016

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MAIN HEADLINES FROM THIS ISSUE:

  • Kuwait’s offset policy set for relaunch?

    Kuwait, facing diminished oil revenues and the need for economic reform, may be reconsidering the cancellation of its offset policy. A key official told CTO that unsigned contracts for which Kuwait required offset when negotiations began can now expect a new demand.

  • Britain’s largest trade union demands offsets from Boeing

    Britain’s biggest trade union, Unite, said it was worried about the lack of offset agreements in Defence Secretary Michael Fallon’s decision to buy from Boeing. Mr Fallon has serious questions to answer about the UK’s secretive procurement policy, the union said.

  • Israel’s new policy includes countertrade

    Ziva Eger, CEO of Israel’s Foreign Investment and Industrial Cooperation Authority, has decided that counterpurchase is an acceptable choice for the discharge of obligations. Ms Eger spoke of a Chinese company that submitted a proposal for a tender and asked if it could buy olive oil. “Sure, why not?” she said.

  • Oman’s programme makes serious headway

    The Omani Partnership for Development programme embraces defence and civil offset, and is currently working with more than 39 Omani government and semi-government units. More than 25 obligors from eleven countries have commitments.

  • India’s new offset scandal becomes a cause célèbre

    Investigators are awaiting information from the British Virgin Islands, Dubai and the UK about companies that Sanjay Bhandari used to channel funds and buy properties abroad. The tax authorities are asking whether the money was meant for the offset business, and whether it was meant for kickbacks.

AND LOT'S MORE...

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