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Mitsubishi Electric pays $810 mn in overcharge penalties
by Staff Writers
Tokyo (AFP) Feb 13, 2013


Mitsubishi Electric said Wednesday it has paid the Japanese government about $810 million after it inflated fees for defence and other contracts, the latest in a wider overcharging scandal.

The company, which makes everything from batteries to nuclear plants, had been barred from bidding on government contracts until it paid the defence ministry some 60.28 billion yen ($645 million) in penalties, interest and reimbursements for jacking up its rates.

The whopping figure follows payments last month worth 15.4 billion yen for overcharging Tokyo on various contracts, including its space programme.

Rival industrial giant Sumitomo Heavy Industries also returned 2.3 billion yen to the defence minstry over its overcharging.

The scandal came to light last year, with Mitsubishi Electric admitting that it routinely inflated charges on some of its government contracts stretching back four decades.

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MILPLEX
Russia says supplying Syria, Mali with arms
Moscow (AFP) Feb 13, 2013
Russia said Wednesday it was delivering military hardware and light weapons to the governments of Syria and Mali as it expands sales and maintains its footing in some of the world's deadliest conflicts. The head of Russia's arms exporter Rosoboronexport, Anatoly Isaikin, said Russian deliveries to the Syrian regime of President Bashar al-Assad included air defence systems but not the advance ... read more


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