Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Bahrain's Alba, Alcoa reach settlement  Join our daily free Newsletter

MENAFN - 10/10/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) US Alcoa has agreed to pay USD85 million to Aluminium Bahrain (Alba), in exchange for dropping a lawsuit against Alcoa, Reuters reported.

The settlement came four years after Alba filed a racketeering and fraud suit against Alcoa in US federal court in Pennsylvania in 2008 and sought damages in excess of USD1 billion and punitive damages.

Alba had accused Alcoa of conspiring with a businessman to orchestrate bribes in Bahrain and to overcharge it for alumina, the crucial material used to make aluminium.

Alcoa also agreed to sign long-term raw material supply contracts, which Alba valued at USD362 million. Alcoa declined to give a value.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help