Accused Rio Tinto executive Stern Hu 'pleads guilty'



BEIJING // Stern Hu, the Australian iron ore executive for Rio Tinto in China, has pleaded guilty in a Shanghai court to bribery charges, says the lawyer for one of Mr Hu's colleagues who is facing the same charge. The case has had a high international profile, particularly as the four were arrested soon after Rio Tinto rejected a US$19.5 billion (Dh71.61bn) investment by the Aluminium Corporation of China (Chinalco), a state-owned company based in Beijing.

Mr Hu was accused of receiving about 6 million yuan (Dh3.2m) of bribes, the lawyer said yesterday. The Australian executive and three Chinese citizens have been held in custody since July last year and could face prison sentences of between five and 15 years on the bribery charges alone. Tao Wuping represented Mr Hu's colleague, Liu Caikui, at yesterday's hearing at the Shanghai court, where media coverage was restricted. Mr Liu, who faces bribery charges involving about 3.7m yuan, "doesn't plan to plead innocence", Mr Tao said.

Another defendant, Wang Yong, is facing charges for amounts totalling 70m yuan, while the fourth, Ge Mingqiang, is accused of taking bribes of 6.9m yuan, said Mr Tao, who added that prosecutors were asking for jail terms of more than five years for the bribery charges. The court's website says the four also infringed commercial secrets. Last month, prosecutors issued indictments that said the men had on several occasions sought or accepted illegal bribes from Chinese steel firms and had "exploited their positions to seek gain for others".

The charges are thought to relate to talks held last year over iron ore prices, with Chinese steel makers having rejected Rio Tinto's offer of a 33 per cent price cut. This year's negotiations have also run into difficulties, with the China Iron and Steel Association having said this month that Chinese steel makers were unhappy with proposals from Rio Tinto, Vale and BHP Billiton, the largest suppliers, to increase prices by 90 per cent.

The fraud case has had a high profile in Australia and the country's prime minister, Kevin Rudd, said close attention would be paid to the trial. "China has a different legal system to Australia," Mr Rudd said. "China has a different legal system to the rest of the world. The world will be watching very closely how the trial is handled." Other Australian politicians have said the trial should be held in public. Foreign reporters were barred from yesterday's proceedings, while Chinese journalists and Tom Connor, the Australian consul general, were allowed entry, although diplomats are likely to be excluded from parts of the proceedings relating to the breaching of commercial confidentiality.

The Chinese authorities have insisted they will "fully guarantee" the rights of the four defendants. Tom Albanese, the chief executive of Rio Tinto, said yesterday in Beijing his company, the third-largest mining firm in the world, needed a "positive relationship" with China. "I can only say we respectfully await the outcome of the Chinese legal process," Mr Albanese said. "This issue is obviously of great concern to us, as it would be for any company operating in China."

Chinalco last week agreed to pay $1.35bn for a 44.65 per cent stake in a Rio Tinto iron ore project in Guinea. Chinalco is also the largest shareholder in Rio Tinto, which has its headquarters in Melbourne and London. Last year, Rio Tinto's sales to China reached almost a quarter of its total revenue, up from less than a fifth the year before, and overtaking sales to North America and Europe. Since 2004, the proportion of Rio Tinto sales to China has doubled.

Vivienne Bath, an associate professor at the Sydney Law School at the University of New South Wales, said the Chinese authorities were keen for the trial to send a message that fraud was unacceptable in China. "What they are interested in is a clean business environment generally, and that puts you on notice that giving or taking bribes is not an acceptable way of doing business in China," Ms Bath said.

* with Bloomberg business@thenational.ae

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Manchester United v Everton
Where:
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Abu Dhabi GP schedule

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Stuck in a job without a pay rise? Here's what to do

Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.

“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”

Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.

Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.

“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”

For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.

“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”

 

What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate

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FA Cup fifth round

Chelsea v Manchester United, Monday, 11.30pm (UAE), BeIN Sports

The Little Things

Directed by: John Lee Hancock

Starring: Denzel Washington, Rami Malek, Jared Leto

Four stars

Student Of The Year 2

Director: Punit Malhotra

Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal 

1.5 stars

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Weekend of August 10-13

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Result

Arsenal 4
Monreal (51'), Ramsey (82'), Lacazette 85', 89')

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Arnautovic (64')

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Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

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Third Test, Day 2

New Zealand 274
Pakistan 139-3 (61 ov)

Pakistan trail by 135 runs with 7 wickets remaining in the innings

The biog

Prefers vegetables and fish to meat and would choose salad over pizza

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France is her favourite country to visit

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What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

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The Saudi Cup race card

1 The Jockey Club Local Handicap (TB) 1,800m (Dirt) $500,000

2 The Riyadh Dirt Sprint (TB) 1,200m (D) $1.500,000

3 The 1351 Turf Sprint 1,351m (Turf) $1,000,000

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The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
Race card:

6.30pm: Maiden; Dh165,000; 2,000m

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Euro 2020 qualifier

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Results

5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)

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8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

I Feel Pretty
Dir: Abby Kohn/Mark Silverstein
Starring: Amy Schumer, Michelle Williams, Emily Ratajkowski, Rory Scovel
 

Cracks in the Wall

Ben White, Pluto Press 

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Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

RACE CARD

6.30pm Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m

7.05pm Handicap (TB) Dh102,500 (D) 1,200m

7.40pm Handicap (TB) Dh105,000 (Turf) 1,800m

8.15pm UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m

9.50pm Handicap (TB) Dh105,000 (D) 1,600m

9.25pm Handicap (TB) Dh95,000 (T) 1,000m

SCHEDULE

6.30pm Maiden Dh165,000 (Dirt) 1,400m
7.05pm: Handicap Dh170,000 (D) 1,600m
7.40pm: Maiden Dh165,000 (D) 1,600m
8.15pm: Handicap Dh210,000 (D) 1,200m
8.50pm: Handicap Dh210,000 (D) 2,000m
9.25pm:Handicap Dh185,000 (D) 1,400m
 
Amith's predicted winners:
6.30pm: Down On Da Bayou
7.05pm: Etisalat
7.40pm: Mulfit
8.15pm: Pennsylvania Dutch
8.50pm: Mudallel
9.25pm: Midnight Sands