International Advocacy group Global Witness says in a recent report that Libyan dictator Muammar Qaddafi has stashed billions in Western banks and non-bank companies. The report notes:
HSBC and Goldman Sachs are among the key western bankers for Colonel Gaddafi’s regime, a 2010 document leaked to Global Witness appears to show. The document details the whereabouts of state oil revenues. However the Libyan people could not know where it was invested or how much it was, because banks have no obligation to disclose state assets they hold. Global Witness is now calling for new laws requiring banks and investment funds to disclose all state funds that they manage.
Other banks and non-bank companies listed in the report include:
- Siemens AG : About the company: Siemens AG manufactures a wide range of industrial and consumer products. The Company builds locomotives, traffic control systems, automotive electronics, and engineers electrical power plants. Siemens also provides public and private communications networks, computers, building control systems, medical equipment, and electrical components. The Company operates worldwide.
- Pearson PLC : About the company: Pearson plc is a holding company, whose international subsidiaries operate in the education and media sectors. The Company publishes various financial papers, trade books, textbooks and electronic education programs, via their businesses which include the Financial Times, Penguin, and the Economist.
- General Electric Co : About the company: General Electric Company is a diversified technology, media and financial services company. The Company offers products and services ranging from aircraft engines, power generation, and water processing technology to medical imaging, business and consumer financing, media content and industrial products. General Electric conducts operations globally. Competitors to Watch: Citigroup, Inc. , 3M , Hitachi , United Technologies , Honeywell , Agilent , Danaher , Textron OSI Systems (OSI), Koninklijke Philips Electronics NV , and Siemens AG .
- Telefonica : Telefonica S.A. provides telecommunications services mainly to countries in Europe and Latin America. The Company offers fixed-line and mobile telephone, Internet, and data transmission services to residential and corporate customers.
- BP plc : About the company: BP plc is an oil and petrochemicals company. The Company explores for and produces oil and natural gas, refines, markets, and supplies petroleum products, generates solar energy, and manufactures and markets chemicals. BP’s chemicals include terphthalic acid, acetic acid, acrylonitrile, ethylene and polyethylene. Competitors to Watch: Chevron Corporation , ExxonMobil , ConocoPhillips , Marathon Oil Corporation , Hess Corp. , TOTAL S.A. , Suncor Energy Inc. and Petroleo Brasileiro SA .
- Pfizer Inc. : About the company: Pfizer, Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets medicines for humans and animals. The COmpany’s products include prescription pharmaceuticals, non-prescription self-medications, and animal health products such as anti-infective medicines and vaccines. Competitors to Watch: Johnson & Johnson , Merck & Co., Inc. , GlaxoSmithKline plc , Bristol Myers Squibb Co. , Eli Lilly & Co. , Abbott Laboratories , Novartis AG , Mylan Inc. , Amgen, Inc. , and Sanofi-Aventis SA
- AT&T : About the company: AT&T Inc. is a communications holding company. The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing. Competitors to Watch: Sprint Nextel Corp. , MetroPCS , Vodafone , Qwest , CenturyLink , Cbeyond , Cincinnati Bell , Frontier Communications and Verizon Communications Inc. .
- Deutsche Telekom : About the company: Deutsche Telekom AG offers telecommunications services. The Company offers a full range of fixed-line telephone services, mobile communications services, Internet access, and combined information technology and telecommunications services for businesses.
- Vodafone : About the company: Vodafone Group Plc provides a range of mobile telecommunications services, including voice and data communications. Vodafone has equity interests in 28 countries and Partner Networks in a further 7 countries with almost all the Group’s mobile subsidiaries operating principally under the brand name Vodafone. In the United States their associated undertaking operates as Verizon Wireless.
- Citigroup : About the company: Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world. The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services
- France Telecom : About the company: France Telecom SA provides telecommunications services to residential, professional, and large business customers. The Company offers public fixed-line telephone, leased lines and data transmission, mobile telecommunications, cable television, Internet and wireless applications, and broadcasting services, and telecommunications equipment sales and rentals.
- Nokia : About the company: Nokia Corporation is a player in the mobile industry. The Company makes a range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Nokia also provides equipment, solutions and services for communications networks.
- Occidential Petroleum Corp. : About the company: Occidental Petroleum Corporation explores for, develops, produces, and markets crude oil and natural gas. The Company also manufactures and markets a variety of basic chemicals, vinyls and performance chemicals. Occidental also gathers, ,treats, processes, transports, stores, trades and markets crude oil, natural gas, NGLs, condensate and carbon dioxide and generates and markets power.
- Caterpillar : About the company: Caterpillar, Inc. designs, manufactures, and markets construction, mining, agricultural, and forestry machinery. The Company also manufactures engines and other related parts for its equipment, and offers financing and insurance. Caterpillar distributes its products through a worldwide organization of dealers.
- Petrobas Argentina S.A. About the company: Petrobas Argentina S.A. explores for, produces, refines, and transports oil and natural gas in South America. The Company also manufactures styrene and synthetic rubber, fertilizers, polypropylene and polystyrene, generates and distributes electricity, and operates lumber and agricultural businesses in Argentina.
- Schlumberger : About the company: Schlumberger Limited is an oil services company. The Company, through its subsidiaries, provides a wide range of services, including technology, project management, and information solutions to the international petroleum industry as well as advanced acquisition and data processing surveys.
- Halliburton : About the company: Halliburton Company provides energy services and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.
- Honeywell : Honeywell International Inc. is a diversified technology and manufacturing company with operations around the world. The Company provides aerospace products and services, control technologies, automotive products, and power generation systems. Honeywell also provides specialty chemicals, fibers, plastics, and electronic and advanced materials.
- United Technologies Corp. : About the company: United Technologies Corp. provides technology products and support services to customers int he aerospace and building industries worldwide. The Company’s products include aircraft engines, heating and air conditioning equipment, helicopters, aerospace systems, fuel cell systems, and fire and safety equipment.
- Royal Dutch Shell : About the company: Royal Dutch Shell plc operates as an oil and gas company worldwide. The company explores for, and extracts crude oil and natural gas. It also converts natural gas to liquids to provide cleaner burning fuels; markets and trades natural gas and power; extracts bitumen from mined oil sands and convert it to synthetic crude oil; and develops wind power to generate electricity.
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- Global Witness
- Muammar Qaddafi