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June 2021
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Sharad Pawar, Yashwant Sinha call meet to put up united opposition        Kerala to implement tourism projects in time-bound manner: Riyas        BCCI to donate Rs 10 cr for preparations of Olympic-bound athletes        WTC Final, Day 3: NZ bowl out India for 217 in 1st innings, Jamieson picks 5 wickets        AIBEA to hold National Webinars from Jul 1 to commemorate 52nd anniversary of Bank Nationalisation        France elects regional leaders, preps for presidential vote        Argentina reports first confirmed case of ‘Black Fungus’: Reports        Bengal plans more COVID beds for women amid third wave threat        Delhi eases COVID restrictions        COVID-19: India records less than 60,000 cases after 81 days        WTC Final, Day 2: India 146/3 at stumps against NZ        Union Bank of India inks MOU with NSIC to support MSMEs with credit requirements        Seven dead, 13 injured after plane crash-lands in Russia's Kemerovo region        Ebrahim Raisi elected Iran's new president        MHA asks states, UTs to not lower guard, calibrated opening up of lockdown advised        PM congratulates LS Speaker Om Birla for completing 2 years in office        Centre invites 14 J&K leaders to attend all-party meeting on June 24        Tour de France to hold women''s cycling race in July 2022        Will always regret missing hundred on Test debut but will get one next time: Shafali Verma        Nadal, Osaka both out for Wimbledon; she'll go to Olympics        
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International News
Biden widens list of Chinese firms off-limits for investment
 
Washington: President Joe Biden has nearly doubled the list of Chinese companies whose shares are off-limits to US investors in the latest sign he is not softening Washington's stance toward Beijing.

An executive order issued late Thursday says it aims to solidify and strengthen an order signed last year by his predecessor Donald Trump by strengthening controls on investments in Chinese companies that the US says are linked to defense and surveillance.

The intension is to ensure that US investments are not supporting Chinese companies that undermine the security or values of the United States and our allies," the order says.

The revised list includes companies that Washington alleges contribute to surveillance of religious and ethnic minorities or to repression and serious human rights abuses.

Many of the companies on the expanded list already were on a Defense Department blacklist that limits access to American technology and investment.

Telecoms equipment maker Huawei Technologies, China's big state-owned telecoms companies and China National Offshore Oil Corp. all are on the new list of 59 companies. The earlier list included 31.

There was no immediate comment from Beijing. But Chinese officials have accused the US of distorting the concept of national security and abusing state power and warned Beijing will take unspecified necessary measures to protect the rights and interests of Chinese enterprises.

Semiconductor Manufacturing International Corp., or SMIC, was not on the original list of banned securities investments. It plays a leading role in the ruling party's effort to reduce reliance on US and other foreign technology by creating Chinese suppliers of processor chips and other components.

The prohibitions on investments in the companies takes effect Aug 2. The companies are also included in the Treasury Department's Foreign Assets Control list. The executive order signed by Trump last year required U.S. investors to divest their stakes in the listed companies by November.

Separately, the Commerce Department has put China National Offshore Oil Corp., the country's third-largest national oil company, on an economic blacklist for what it described as reckless and belligerent actions in the disputed waters of the South China Sea.

That's a reference to CNOOC's involvement in offshore drilling in disputed waters of the South China Sea, where Beijing has overlapping territorial claims with other countries including Vietnam, the Philippines, Brunei and Malaysia, as well as Taiwan.

The Commerce Department list forbids US firms from exporting or transferring technology with the companies named unless permission has been obtained from the US government. About 60 Chinese companies were added to the list in December, including drone maker DJI and semiconductor firm SMIC.

Chinese smartphone maker Xiaomi Corp., which overtook Apple Inc. as the world's No. 3 smartphone maker by sales in the third quarter of 2020, was removed from the earlier investment blacklist after it sued the U.S. government, demanding to be removed and denying it has any links with China's People's Liberation Army.

Xiaomi is a Beijing-based company known for its value-for-money smartphones and smart devices.


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NATIONAL NEWS
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