The U.S. government is targeting companies across multiple countries to disrupt Russia's war efforts in Ukraine. This initiative aims to undermine support for Russia by penalizing businesses that facilitate its military operations. The move reflects a broader strategy to strengthen international sanctions and reinforce global cooperation against Russia's actions.

US Targets Firms In Multiple Countries To Disrupt Russia's War Efforts

The European union has criticised Russia for putting subsidiaries of one Italian and one German company under the "temporary external management" of a Gazprom entity. The multilateral organisation said the move underscored Moscow's disregard for international norms.

Two firms put under 'temporary external management' of Gazprom

The hackers of North Korea allegedly entered the systems of South Korean chip equipment makers, as per South Korea's spy agency. North Korea has been making efforts to create semiconductors for its weapons programmes, said the National Intelligence Service (NIS).

This was reported a month after South Korean President Yoon Suk Yeol had warned that North Korea is likely to stage provocations like cyber attacks for meddling with upcoming elections.

Also Read:&nbsp;<a href="https://www.wionews.com/world/north-korea-sent-millions-of-munitions-to-russia-in-exchange-for-food-south-korea-694948">North Korea sent millions of munitions to Russia in exchange for food: South Korea</a>

<h2>North Korea escalates hacking efforts&nbsp;</h2>

North Korea last year hacked the emails of President Yoon's aide.

"We believe that North Korea might possibly be preparing to produce its own semiconductors in the face of difficulties in procuring them due to sanctions," said the NIS, in a statement.

It stated that Pyongyang may have been making efforts to hack South Korean chip equipment firms because they need chips for the weapons programmes, which include satellites and missiles.

The NIS has stated that North Korean hackers broke into the two chip equipment companies' servers in December and February, stealing photographs of their facilities and product designs.

It further issued a warning to other companies in the chip-making industry to remain alert against cyber attacks.

The spy agency, however, failed to mention which firms were affected and did not even clarify if North Korea was able to get anything of value.

The NIS claimed that the companies of South Korea had remained a key target of North Korean hackers since last year.

Watch:&nbsp;South Korea and US begin large annual military drills as Pyongyang's rising nuclear threats

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/south-korea-and-us-begin-large-annual-military-drills-as-pyongyangs-rising-nuclear-threats-696544/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

According to NIS, the hackers employed a technique known as "living off the land," which decreases malicious codes and uses legitimate and existing tools installed within servers, which makes it difficult for hackers to detect it using security software.

President Yoon's office last month said that an aide's email account was breached which was caused by a violation of security regulations and added that the official system had not been hacked.

North Korea has always rejected claims of being involved in cyber-crimes, however, Seoul has blamed the hackers of North Korea for stealing large sums of money, generally in the form of cryptocurrency, for funding the regime as well as its nuclear weapons programme.

It has been estimated that North Korea has stolen almost $3bn (£2.36bn) since 2016. It is also believed to carry out hacks with the aim of stealing state secrets, which include details of advanced weapons technology.

North Korea, which has faced extreme international sanctions, is becoming increasingly sophisticated in the way cyber attacks are carried out.

(With inputs from agencies)

The hackers of North Korea allegedly entered the systems of South Korean chip equipment makers, as per South Korea's spy agency. North Korea has been making efforts to create semiconductors for its weapons programmes, said the National Intelligence Service (NIS).

The hackers of North Korea allegedly entered the systems of South Korean chip equipment makers, as per South Korea's spy agency. North Korea has been making efforts to create semiconductors for its weapons programmes, said the National Intelligence Service (NIS). This was reported a month after South Korean President Yoon Suk Yeol had warned that North Korea is likely to stage provocations like cyber attacks for meddling with upcoming elections. Also Read: North Korea sent millions of munitions to Russia in exchange for food: South Korea North Korea escalates hacking efforts North Korea last year hacked the emails of President Yoon's aide. "We believe that North Korea might possibly be preparing to produce its own semiconductors in the face of difficulties in procuring them due to sanctions," said the NIS, in a statement. It stated that Pyongyang may have been making efforts to hack South Korean chip equipment firms because they need chips for the weapons programmes, which include satellites and missiles. The NIS has stated that North Korean hackers broke into the two chip equipment companies' servers in December and February, stealing photographs of their facilities and product designs. It further issued a warning to other companies in the chip-making industry to remain alert against cyber attacks. The spy agency, however, failed to mention which firms were affected and did not even clarify if North Korea was able to get anything of value. The NIS claimed that the companies of South Korea had remained a key target of North Korean hackers since last year. Watch: South Korea and US begin large annual military drills as Pyongyang's rising nuclear threats According to NIS, the hackers employed a technique known as "living off the land," which decreases malicious codes and uses legitimate and existing tools installed within servers, which makes it difficult for hackers to detect it using security software. President Yoon's office last month said that an aide's email account was breached which was caused by a violation of security regulations and added that the official system had not been hacked. North Korea has always rejected claims of being involved in cyber-crimes, however, Seoul has blamed the hackers of North Korea for stealing large sums of money, generally in the form of cryptocurrency, for funding the regime as well as its nuclear weapons programme. It has been estimated that North Korea has stolen almost $3bn (£2.36bn) since 2016. It is also believed to carry out hacks with the aim of stealing state secrets, which include details of advanced weapons technology. North Korea, which has faced extreme international sanctions, is becoming increasingly sophisticated in the way cyber attacks are carried out. (With inputs from agencies)

North Korean hackers broke into South Korean chip equipment firms: Seoul

Shares of US-based bank pacwest bancorp tumbled 56% in extended trading. This happened following the news that the bank is weighing strategic options. The regional bank is assessing various options. Including a possible sale, and bringing in advisors to evaluate longer-term plans for the business. Piper Sandler and Stephens are the two firms advising pacwest.

Yet another US bank on the brink of collapse?

Energy watchdog, International Energy Agency has slammed the fossil fuel industry as they fail to tackle their methane emissions despite making pledges to fix it.

Energy watchdog slams fossil fuel firms

Some 300 firms have written an open letter to world leaders demanding strict policies to save biodiversity. Watch this report to know all the details.

WION Climate Tracker: Some 300 firms write an open letter to world leaders

More than 30 firms, including at least two major Chinese property developers, saw trading in their shares halted in&nbsp;Hong&nbsp;Kong&nbsp;on Friday after they failed to report annual results.

The move deepens uncertainty for China's embattled property sector, which has been struggling after a clampdown by Beijing suddenly turned off the liquidity taps.

It also comes as China's wider economy battles with sweeping lockdowns in key cities including Shanghai after a surge of coronavirus infections.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-judges-quit-hong-kongs-top-court-over-security-law-467072">UK judges quit Hong Kong’s top court over security law</a>

Major Chinese developers Shimao Group and Sunac China were among at least 33 companies suspended on Friday.

The firms had all failed to publish their unaudited annual results by a March 31 deadline. &nbsp;

This year's trading suspension figure compares with more than 50 for 2021 and at least nine for 2020, according to Bloomberg News.

In a notice to&nbsp;Hong&nbsp;Kong's stock exchange, Shimao said it could not report annual results on time because of the latest coronavirus outbreak, which resulted in the "lockdown of the office building of the company’s headquarters in Shanghai".

Some staff involved in preparing annual results have also been quarantined without a clear date of when virus-control measures will be eased, Shimao added.

Because of virus-related delays,&nbsp;Hong&nbsp;Kong's stock exchange allowed firms to submit unaudited figures by March 31 and the audited version by April 30 to avoid suspension.

The exchange had 2,570 listed companies at the end of March, with at least 138 saying they would delay reporting their audited 2021 results past the March deadline, Bloomberg said.

Chinese property firms have struggled in the wake of Beijing's ongoing drive to curb excessive debt in the real estate sector as well as rampant consumer speculation.

Also read |&nbsp;<a href="https://www.wionews.com/world/covid-19-hong-kong-says-to-halve-flight-suspension-rule-to-seven-days-465864">COVID-19: Hong Kong says to halve flight suspension rule to seven days</a>

The failure to report audited results will compound worries about the transparency of debt restructurings within troubled Chinese firms and could spark further credit rating downgrades.&nbsp;

Sunac in its Friday statement said its own delay was partly because of issues related to offshore loans "arising from the recent downgrade of the company's credit ratings by international rating agencies".

On March 24, Fitch Ratings downgraded Sunac's rating to "CC", which the agency said reflected its "narrowing margin of safety for refinancing capital-market maturities".

Property developer China Aoyuan Group, whose shares were also among those suspended on Friday, said it would delay reporting annual results as it did not accurately reflect the group's financial performance and position.

"Publication of the 2021 unaudited management accounts at this stage could potentially be misleading to the shareholders and potential investors of the company," the firm said in a stock exchange notice.

The Hang Seng Index fell more than one percent in morning trade Friday and is down seven percent.&nbsp;

Watch |&nbsp;Gravitas: Hong Kong separates 2,000 Covid-positive children from parents

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-hong-kong-separates-2000-covid-positive-children-from-parents-466791/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

More than 30 firms, including at least two major Chinese property developers, saw trading in their shares halted in Hong Kong on Friday after they failed to report annual results.

More than 30 firms, including at least two major Chinese property developers, saw trading in their shares halted in Hong Kong on Friday after they failed to report annual results. The move deepens uncertainty for China's embattled property sector, which has been struggling after a clampdown by Beijing suddenly turned off the liquidity taps. It also comes as China's wider economy battles with sweeping lockdowns in key cities including Shanghai after a surge of coronavirus infections. Also read | UK judges quit Hong Kong’s top court over security law Major Chinese developers Shimao Group and Sunac China were among at least 33 companies suspended on Friday. The firms had all failed to publish their unaudited annual results by a March 31 deadline. This year's trading suspension figure compares with more than 50 for 2021 and at least nine for 2020, according to Bloomberg News. In a notice to Hong Kong's stock exchange, Shimao said it could not report annual results on time because of the latest coronavirus outbreak, which resulted in the "lockdown of the office building of the company’s headquarters in Shanghai". Some staff involved in preparing annual results have also been quarantined without a clear date of when virus-control measures will be eased, Shimao added. Because of virus-related delays, Hong Kong's stock exchange allowed firms to submit unaudited figures by March 31 and the audited version by April 30 to avoid suspension. The exchange had 2,570 listed companies at the end of March, with at least 138 saying they would delay reporting their audited 2021 results past the March deadline, Bloomberg said. Chinese property firms have struggled in the wake of Beijing's ongoing drive to curb excessive debt in the real estate sector as well as rampant consumer speculation. Also read | COVID-19: Hong Kong says to halve flight suspension rule to seven days The failure to report audited results will compound worries about the transparency of debt restructurings within troubled Chinese firms and could spark further credit rating downgrades. Sunac in its Friday statement said its own delay was partly because of issues related to offshore loans "arising from the recent downgrade of the company's credit ratings by international rating agencies". On March 24, Fitch Ratings downgraded Sunac's rating to "CC", which the agency said reflected its "narrowing margin of safety for refinancing capital-market maturities". Property developer China Aoyuan Group, whose shares were also among those suspended on Friday, said it would delay reporting annual results as it did not accurately reflect the group's financial performance and position. "Publication of the 2021 unaudited management accounts at this stage could potentially be misleading to the shareholders and potential investors of the company," the firm said in a stock exchange notice. The Hang Seng Index fell more than one percent in morning trade Friday and is down seven percent. Watch | Gravitas: Hong Kong separates 2,000 Covid-positive children from parents

Trade halted in 33 Hong Kong-listed firms on earnings no-show

An international cross-party network of legislators across the European Union, the United Kingdom, India, Australia and Canada have called on their governments to block investors from bankrolling firms perpetrating forced labour abuses in China`s Xinjiang province.

This comes after reports emerged that HSBC has held shares in a subsidiary of the Xinjiang Production and Construction Corps (XPCC), which was hit by US Treasury Department sanctions in 2020.

The Inter-Parliamentary Alliance on China (IPAC) said the 35 legislators, representing over 10 countries, urged their governments to draw up a blacklist of entities identified as perpetrating atrocities in the Uyghur Region, with firms barred from investing in blacklisted entities.

The calls were made in a series of separate letters, attached, coordinated by the IPAC and sent last week.

Prominent signatories include Reinhard Butikofer MEP, chair of the European Parliament`s China delegation; Sir Iain Duncan Smith MP, former leader of the UK Conservative party; Australia Labor Senator Kimberley Kitching and Indian BJD MP Sujeet Kumar.

The letters were addressed to the legislators` respective finance ministers, including European Commissioner Mairead McGuinness and UK Chancellor Rishi Sunak.

<a href="https://www.wionews.com/south-asia/pakistan-supporting-chinese-repression-of-uyghurs-report-446768">Also read |&nbsp;Pakistan supporting Chinese repression of Uyghurs: Report</a>

The calls come after it was revealed that HSBC had purchased GBP £2.2 million of shares in Xinjiang Tianye, a plastics manufacturer owned by the XPCC, IPAC said in a press release.

"The XPCC, a Chinese state-operated paramilitary conglomerate, facilitates the Xinjiang`s coercive labour transfer programmes and operates many of the region`s so-called `vocational training` centres - where experts believe at least one million Uyghurs have been detained and subjected to abuses including, forced labour, torture and sexual abuse," the IPAC release said.

HSBC has previously come under fire from members of IPAC for its role in freezing the assets of former Hong Kong opposition legislator Ted Hui in December 2020.

The events led to HSBC being called before the UK Parliament`s Foreign Affairs Committee, where it was accused of abetting the Hong Kong government`s crackdown on the city`s pro-democracy movement.Reinhard Butikofer, German Green MEP and Co-Chair of IPAC said: "We cannot ignore the role that big banks play in financing the abuses taking place in Xinjiang. If they are knowingly investing in firms perpetrating forced labour and other human rights abuses, then it is right that they should be held to account."

"We are calling on the Commission to urgently bring forward measures to not only prevent goods made with forced labour from entering our markets, but also to prevent our banks from investing in them."

Siobhain McDonagh, UK Labour MP and member of the Treasury Select Committee said: "HSBC`s investments in Xinjiang Tianye demonstrate the deep ties between international finance and the Uyghur Region. It is completely unacceptable that banks like HSBC, which are headquartered and registered in the UK, should invest in groups perpetrating industrial scale human rights abuses against the Uyghurs."

McDonagh added that the UK government must act to stop British firms from bankrolling modern slavery in the Uyghur Region and elsewhere.&nbsp;

An international cross-party network of legislators across the European Union, the United Kingdom, India, Australia and Canada have called on their governments to block investors from bankrolling firms perpetrating forced labour abuses in China`s Xinjiang province.

An international cross-party network of legislators across the European Union, the United Kingdom, India, Australia and Canada have called on their governments to block investors from bankrolling firms perpetrating forced labour abuses in China`s Xinjiang province. This comes after reports emerged that HSBC has held shares in a subsidiary of the Xinjiang Production and Construction Corps (XPCC), which was hit by US Treasury Department sanctions in 2020. The Inter-Parliamentary Alliance on China (IPAC) said the 35 legislators, representing over 10 countries, urged their governments to draw up a blacklist of entities identified as perpetrating atrocities in the Uyghur Region, with firms barred from investing in blacklisted entities. The calls were made in a series of separate letters, attached, coordinated by the IPAC and sent last week. Prominent signatories include Reinhard Butikofer MEP, chair of the European Parliament`s China delegation; Sir Iain Duncan Smith MP, former leader of the UK Conservative party; Australia Labor Senator Kimberley Kitching and Indian BJD MP Sujeet Kumar. The letters were addressed to the legislators` respective finance ministers, including European Commissioner Mairead McGuinness and UK Chancellor Rishi Sunak. Also read | Pakistan supporting Chinese repression of Uyghurs: Report The calls come after it was revealed that HSBC had purchased GBP £2.2 million of shares in Xinjiang Tianye, a plastics manufacturer owned by the XPCC, IPAC said in a press release. "The XPCC, a Chinese state-operated paramilitary conglomerate, facilitates the Xinjiang`s coercive labour transfer programmes and operates many of the region`s so-called `vocational training` centres - where experts believe at least one million Uyghurs have been detained and subjected to abuses including, forced labour, torture and sexual abuse," the IPAC release said. HSBC has previously come under fire from members of IPAC for its role in freezing the assets of former Hong Kong opposition legislator Ted Hui in December 2020. The events led to HSBC being called before the UK Parliament`s Foreign Affairs Committee, where it was accused of abetting the Hong Kong government`s crackdown on the city`s pro-democracy movement.Reinhard Butikofer, German Green MEP and Co-Chair of IPAC said: "We cannot ignore the role that big banks play in financing the abuses taking place in Xinjiang. If they are knowingly investing in firms perpetrating forced labour and other human rights abuses, then it is right that they should be held to account." "We are calling on the Commission to urgently bring forward measures to not only prevent goods made with forced labour from entering our markets, but also to prevent our banks from investing in them." Siobhain McDonagh, UK Labour MP and member of the Treasury Select Committee said: "HSBC`s investments in Xinjiang Tianye demonstrate the deep ties between international finance and the Uyghur Region. It is completely unacceptable that banks like HSBC, which are headquartered and registered in the UK, should invest in groups perpetrating industrial scale human rights abuses against the Uyghurs." McDonagh added that the UK government must act to stop British firms from bankrolling modern slavery in the Uyghur Region and elsewhere.

International alliance of MPs to blacklist Chinese firms over Uyghur 'atrocities'

Citing "national security" concerns, the United States has revoked the license of one of China's biggest telecoms companies, reported BBC. &nbsp;

The Chinese telecom company will have to stop providing services in the US in 60 days. &nbsp;

The Chinese government's control of the company gave it the opportunity "to access, store, disrupt, and/or misroute US communications", said officials. &nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/father-shoots-son-after-refusing-to-stop-playing-guitar-us-court-documents-424388" hreflang="en">Father shoots son after refusing to stop playing guitar: US court documents</a>

It in turn allows it "to engage in espionage and other harmful activities against the US", they said. &nbsp;

China Telecom, which has been providing telecom services in the US for nearly 20 years, called the decision "disappointing". &nbsp;

In a statement, it said, "We plan to pursue all available options while continuing to serve our customers." &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/us-man-spends-money-received-from-covid-relief-loan-on-a-58000-pokemon-card-424400" hreflang="en">US man spends money received from Covid relief loan on a $58,000 Pokemon card</a>

The company, China Telecom, is one of three firms that dominate China's market. It has hundreds of millions of customers in 110 countries. It provides services ranging from broadband internet to mobile and landline telephone networks.&nbsp;&nbsp;

The decision came hours after US Treasury Secretary Janet Yellen spoke to China's Vice Premier Liu He about the state of the global economy. &nbsp;

It is the latest Chinese telecom firm to be targeted by US officials over national security concerns. &nbsp;

(With inputs from agencies)&nbsp;

Citing "national security" concerns, the United States has revoked the license of one of China's biggest telecoms companies, reported BBC. The Chinese telecom company will have to stop providing services in the US in 60 days.

Citing "national security" concerns, the United States has revoked the license of one of China's biggest telecoms companies, reported BBC. The Chinese telecom company will have to stop providing services in the US in 60 days. The Chinese government's control of the company gave it the opportunity "to access, store, disrupt, and/or misroute US communications", said officials. Also Read | Father shoots son after refusing to stop playing guitar: US court documents It in turn allows it "to engage in espionage and other harmful activities against the US", they said. China Telecom, which has been providing telecom services in the US for nearly 20 years, called the decision "disappointing". In a statement, it said, "We plan to pursue all available options while continuing to serve our customers." Also Read: US man spends money received from Covid relief loan on a $58,000 Pokemon card The company, China Telecom, is one of three firms that dominate China's market. It has hundreds of millions of customers in 110 countries. It provides services ranging from broadband internet to mobile and landline telephone networks. The decision came hours after US Treasury Secretary Janet Yellen spoke to China's Vice Premier Liu He about the state of the global economy. It is the latest Chinese telecom firm to be targeted by US officials over national security concerns. (With inputs from agencies)

US revokes top Chinese telecom firm's licence over 'national security' concerns

As competition in the space tourism industry heats up, a US-based firm said Friday it was excited to re-enter the sector with the upcoming launch of a Japanese billionaire.

Space Adventures, headed by Tom Shelley, is set in December to send Japanese tycoon Yusaku Maezawa to the International Space Station (ISS) from the Russia-leased Baikonur Cosmodrome in Kazakhstan.

It's the company's first launch in over a decade after suspending trips to the ISS as NASA bought up seats on Russia-operated flights and no other vehicles were available.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/top-us-naval-commander-hosts-senior-indian-navy-officers-aboard-uss-carl-vinson-420814">Top US naval commander hosts senior Indian Navy officers aboard USS Carl Vinson</a>

"It's a very exciting time for us," Shelley, 48, the president of Space Adventures, told AFP during an interview in Moscow on Friday.

He added that Space Adventures with Russia was planning &nbsp;future launches "to innovate and find new offerings" for clients.&nbsp;

Shelley said the next Space Adventures flight to the ISS -- scheduled for late 2023 or early 2024 -- will give one of its clients an opportunity to complete a spacewalk.

The return of Shelley's company to the industry with Russia was made possible after the succesful flight of Elon Musk's SpaceX last year that delivered astronauts to the ISS.

The move rendered NASA less dependant on Russian launches, freeing up seats with Moscow's space agency, Roscosmos.

Maezawa, 45, will board a Soyuz rocket operated by Roscosmos together with his assistant Yozo Hirano and cosmonaut Alexander Misurkin.

The December launch &nbsp;comes in the middle of a flurry of non-professional launches.

Also Read |&nbsp;<a href="https://www.wionews.com/sports/us-open-stars-fall-at-indian-wells-which-struggles-to-draw-a-crowd-420743">US Open stars fall at Indian Wells, which struggles to draw a crowd</a>

SpaceX this year sent an all-civilian crew on an orbit of the Earth, a first in the history of amateur space travel.

In Moscow, Shelley said the boom in civilian launches meant the general public was becoming "more aware" of space travel.

"2021 has turned into a very interesting year within the private spaceflight industry," he said.

It's "not just something that has been talked as something for the future, but it is happening now".

Space Adventures has sent seven tourists to the ISS. The last was Canadian Cirque du Soleil co-founder Guy Laliberte in 2009.

As competition in the space tourism industry heats up, a US-based firm said Friday it was excited to re-enter the sector with the upcoming launch of a Japanese billionaire.

As competition in the space tourism industry heats up, a US-based firm said Friday it was excited to re-enter the sector with the upcoming launch of a Japanese billionaire. Space Adventures, headed by Tom Shelley, is set in December to send Japanese tycoon Yusaku Maezawa to the International Space Station (ISS) from the Russia-leased Baikonur Cosmodrome in Kazakhstan. It's the company's first launch in over a decade after suspending trips to the ISS as NASA bought up seats on Russia-operated flights and no other vehicles were available. Also Read | Top US naval commander hosts senior Indian Navy officers aboard USS Carl Vinson "It's a very exciting time for us," Shelley, 48, the president of Space Adventures, told AFP during an interview in Moscow on Friday. He added that Space Adventures with Russia was planning future launches "to innovate and find new offerings" for clients. Shelley said the next Space Adventures flight to the ISS -- scheduled for late 2023 or early 2024 -- will give one of its clients an opportunity to complete a spacewalk. The return of Shelley's company to the industry with Russia was made possible after the succesful flight of Elon Musk's SpaceX last year that delivered astronauts to the ISS. The move rendered NASA less dependant on Russian launches, freeing up seats with Moscow's space agency, Roscosmos. Maezawa, 45, will board a Soyuz rocket operated by Roscosmos together with his assistant Yozo Hirano and cosmonaut Alexander Misurkin. The December launch comes in the middle of a flurry of non-professional launches. Also Read | US Open stars fall at Indian Wells, which struggles to draw a crowd SpaceX this year sent an all-civilian crew on an orbit of the Earth, a first in the history of amateur space travel. In Moscow, Shelley said the boom in civilian launches meant the general public was becoming "more aware" of space travel. "2021 has turned into a very interesting year within the private spaceflight industry," he said. It's "not just something that has been talked as something for the future, but it is happening now". Space Adventures has sent seven tourists to the ISS. The last was Canadian Cirque du Soleil co-founder Guy Laliberte in 2009.

US firm sees 'exciting' moment as space tourism booms

China has proposed new rules that would require almost all companies seeking to list in foreign countries to undergo a cybersecurity review. This move will tighten oversight over its internet giants.

"In accordance with the "National Security Law of the People's Republic of China", "Network Security Law of the People's Republic of China", "Data Security Law of the People's Republic of China" and other laws and regulations, our office has revised the "Cyber ​​Security Review Measures" in conjunction with relevant departments, and now solicits public opinions from the public", read the statement.&nbsp;

<a href="https://www.wionews.com/world/joe-biden-warns-vladimir-putin-on-ransomware-attack-from-russia-397152">Also read |&nbsp;Joe Biden warns Vladimir Putin on ransomware attack from Russia</a>

The report is being considered as one of the most concrete steps taken yet to restrain the ability of technology firms to raise capital in the US. This will be done through a so-called Variable Interest Entity model that the likes of Alibaba Group Holding Ltd. to Baidu Inc. and Didi Global Inc. have adopted.&nbsp;

Regulators are also considering requiring VIEs like Alibaba that have already gone public to seek approval for additional share offerings.

Feng Chucheng, a partner at research firm Plenum in Beijing, was quoted by Bloomberg saying, "These rules will push more Chinese internet firms to list in Hong Kong instead of in another country, to bypass such a review". He added, "The one million-user threshold is very low and would basically apply to every internet company aspiring for an IPO".&nbsp;

China has proposed new rules that would require almost all companies seeking to list in foreign countries to undergo a cybersecurity review. This move will tighten oversight over its internet giants.

China has proposed new rules that would require almost all companies seeking to list in foreign countries to undergo a cybersecurity review. This move will tighten oversight over its internet giants. "In accordance with the "National Security Law of the People's Republic of China", "Network Security Law of the People's Republic of China", "Data Security Law of the People's Republic of China" and other laws and regulations, our office has revised the "Cyber Security Review Measures" in conjunction with relevant departments, and now solicits public opinions from the public", read the statement. Also read | Joe Biden warns Vladimir Putin on ransomware attack from Russia The report is being considered as one of the most concrete steps taken yet to restrain the ability of technology firms to raise capital in the US. This will be done through a so-called Variable Interest Entity model that the likes of Alibaba Group Holding Ltd. to Baidu Inc. and Didi Global Inc. have adopted. Regulators are also considering requiring VIEs like Alibaba that have already gone public to seek approval for additional share offerings. Feng Chucheng, a partner at research firm Plenum in Beijing, was quoted by Bloomberg saying, "These rules will push more Chinese internet firms to list in Hong Kong instead of in another country, to bypass such a review". He added, "The one million-user threshold is very low and would basically apply to every internet company aspiring for an IPO".

China adds foreign IPO rules for various firms

Senior foreign executives of major telecommunications firms in Myanmar have been told by the junta that they must not leave the country without permission, a person with direct knowledge of the matter said. 
 
A confidential order from Myanmar’s Posts and Telecommunications Department (PTD) in mid-June said senior executives, both foreigners and Myanmar nationals, must seek special authorisation to leave the country, the person said. 
 
A week later, telecom companies were sent a second letter telling them they had until Monday July 5 to fully implement intercept technology they had previously been asked to install to let authorities spy on calls, messages and web traffic and to track users by themselves, the source said. Reuters has not seen the orders. 
 
The directives follow pressure on the companies from the junta, which is facing daily protests from its opponents and a growing number of insurgencies to activate the spyware technology. 
 
A spokesman for the military did not answer multiple requests for comment. The junta has never commented on the electronic surveillance effort, but announced soon after seizing power its aim to pass a cybersecurity bill that would require telecoms providers to provide data when requested and remove or block any content deemed to be disrupting 'unity, stabilisation&nbsp;and peace'. It also amended privacy laws to free security forces to intercept communications. 
 
The travel ban comes after intensified pressure from military officials to finish the implementation of the surveillance equipment. The source, who spoke on condition of anonymity for fear of reprisals, said the ban was meant to pressure telecoms firms to finish activating the spyware technology, although the order itself does not specify a reason. 
 
Three other telecoms sources, also speaking on condition of anonymity, said the authorities had stepped up pressure on the companies to implement the intercept, but declined to elaborate further. Two sources said companies had been warned repeatedly by junta officials not to speak publicly or to the media on the intercept. 
 
Telenor declined to comment. There was no immediate response to requests for comment from Ooredoo, state-owned MPT and Mytel, a joint venture between Vietnam's Viettel and a Myanmar military-owned conglomerate. 
 
Months before the February&nbsp;1 coup, telecom and internet service providers were ordered to install intercept spyware to allow the army to eavesdrop on the communications of citizens, Reuters reported in May. 
 
Reuters was not able to establish how broadly the surveillance technology has been installed and deployed, but four sources said Norway's Telenor ASA and Qatar's Ooredoo QPSC had yet to comply in full. 
 
Among the military's first actions on February&nbsp;1 was to cut internet access and it has still not been fully re-established, with telecoms given regular lists of websites and activist phone numbers to block. 
 
The moves have left the future unclear for Myanmar's telecom sector, which had been one of the fastest-growing globally. Telenor said on Friday it is evaluating the future of its operations in the country, with a source telling Reuters it is eying a sale of its Myanmar unit.

Senior foreign executives of major telecommunications firms in Myanmar have been told by the junta that they must not leave the country without permission, a person with direct knowledge of the matter said.

Senior foreign executives of major telecommunications firms in Myanmar have been told by the junta that they must not leave the country without permission, a person with direct knowledge of the matter said. A confidential order from Myanmar’s Posts and Telecommunications Department (PTD) in mid-June said senior executives, both foreigners and Myanmar nationals, must seek special authorisation to leave the country, the person said. A week later, telecom companies were sent a second letter telling them they had until Monday July 5 to fully implement intercept technology they had previously been asked to install to let authorities spy on calls, messages and web traffic and to track users by themselves, the source said. Reuters has not seen the orders. The directives follow pressure on the companies from the junta, which is facing daily protests from its opponents and a growing number of insurgencies to activate the spyware technology. A spokesman for the military did not answer multiple requests for comment. The junta has never commented on the electronic surveillance effort, but announced soon after seizing power its aim to pass a cybersecurity bill that would require telecoms providers to provide data when requested and remove or block any content deemed to be disrupting 'unity, stabilisation and peace'. It also amended privacy laws to free security forces to intercept communications. The travel ban comes after intensified pressure from military officials to finish the implementation of the surveillance equipment. The source, who spoke on condition of anonymity for fear of reprisals, said the ban was meant to pressure telecoms firms to finish activating the spyware technology, although the order itself does not specify a reason. Three other telecoms sources, also speaking on condition of anonymity, said the authorities had stepped up pressure on the companies to implement the intercept, but declined to elaborate further. Two sources said companies had been warned repeatedly by junta officials not to speak publicly or to the media on the intercept. Telenor declined to comment. There was no immediate response to requests for comment from Ooredoo, state-owned MPT and Mytel, a joint venture between Vietnam's Viettel and a Myanmar military-owned conglomerate. Months before the February 1 coup, telecom and internet service providers were ordered to install intercept spyware to allow the army to eavesdrop on the communications of citizens, Reuters reported in May. Reuters was not able to establish how broadly the surveillance technology has been installed and deployed, but four sources said Norway's Telenor ASA and Qatar's Ooredoo QPSC had yet to comply in full. Among the military's first actions on February 1 was to cut internet access and it has still not been fully re-established, with telecoms given regular lists of websites and activist phone numbers to block. The moves have left the future unclear for Myanmar's telecom sector, which had been one of the fastest-growing globally. Telenor said on Friday it is evaluating the future of its operations in the country, with a source telling Reuters it is eying a sale of its Myanmar unit.

After pressuring telecom firms, Myanmar's junta bans executives from leaving

US&nbsp;officials on Sunday ratcheted up pressure on companies and foreign adversaries to fight cybercriminals, and said President Joe Biden is considering all options, including a military response, to counter the growing threat. 
 
The Biden administration is looking at 'all of the options', to defend the country against ransomware criminals, US&nbsp;Commerce Secretary Gina Raimondo said in an interview on Sunday, when asked if military action was being considered. 
 
Raimondo did not detail what those options could look like, but said the topic will be on the agenda when the president meets with Russian President Vladimir Putin this month. The rising threat of cyberattacks has pushed the Biden administration into a more aggressive stance against Russia, which is thought to be harboring some of the perpetrators. 
 
"We're not taking anything off the table as we think about possible repercussions, consequences or retaliation," Raimondo said. 
 
Last weekend, the world`s largest meatpacker was targeted by cybercriminals and in May, the largest fuel pipeline in the United States was attacked, stoking fears over supply disruptions of food and fuel. 
 
US&nbsp;adversaries have the ability to shut down the country's entire power grid, Energy Secretary Jennifer Granholm said separately in an interview with CNN, noting 'thousands of attacks on all aspects of the energy sector'. 
 
The recent high-profile attacks have prompted Biden to put the issue of Russia harboring hackers on the agenda for his meeting with Putin. 
 
The White House plans to use the June 16 summit to deliver a clear message to the Russian leader, officials say. A next step could be destabilisation of the computer servers used to carry out such hacks, some cyber experts say. 
 
US&nbsp;officials are asking private companies to be more vigilant and transparent about attacks. Transportation Secretary Pete Buttigieg on Sunday said the May attack on Colonial Pipeline, which created temporary gasoline shortages, showed the national implications of a hack on a private company. 
 
"Part of our vulnerability on cybersecurity is you're only as strong as your weakest link," he said in an interview with CBS. 
 
Companies need to alert the federal government when they are targeted, Granholm said, and stop paying attackers. "You shouldn't be paying ransomware attacks, because it only encourages the bad guys," she said. 
 
While she opposes ransomware payments, she said she is uncertain whether Biden or Congress is prepared to outlaw them. 
 
Companies should be required to report ransomware attacks, Democratic Senator Mark Warner from Virginia said on Sunday, though he stopped short of saying he supported making such payments illegal. 
 
(With inputs from agencies)

US officials on Sunday ratcheted up pressure on companies and foreign adversaries to fight cybercriminals, and said President Joe Biden is considering all options, including a military response, to counter the growing threat.

US officials on Sunday ratcheted up pressure on companies and foreign adversaries to fight cybercriminals, and said President Joe Biden is considering all options, including a military response, to counter the growing threat. The Biden administration is looking at 'all of the options', to defend the country against ransomware criminals, US Commerce Secretary Gina Raimondo said in an interview on Sunday, when asked if military action was being considered. Raimondo did not detail what those options could look like, but said the topic will be on the agenda when the president meets with Russian President Vladimir Putin this month. The rising threat of cyberattacks has pushed the Biden administration into a more aggressive stance against Russia, which is thought to be harboring some of the perpetrators. "We're not taking anything off the table as we think about possible repercussions, consequences or retaliation," Raimondo said. Last weekend, the world`s largest meatpacker was targeted by cybercriminals and in May, the largest fuel pipeline in the United States was attacked, stoking fears over supply disruptions of food and fuel. US adversaries have the ability to shut down the country's entire power grid, Energy Secretary Jennifer Granholm said separately in an interview with CNN, noting 'thousands of attacks on all aspects of the energy sector'. The recent high-profile attacks have prompted Biden to put the issue of Russia harboring hackers on the agenda for his meeting with Putin. The White House plans to use the June 16 summit to deliver a clear message to the Russian leader, officials say. A next step could be destabilisation of the computer servers used to carry out such hacks, some cyber experts say. US officials are asking private companies to be more vigilant and transparent about attacks. Transportation Secretary Pete Buttigieg on Sunday said the May attack on Colonial Pipeline, which created temporary gasoline shortages, showed the national implications of a hack on a private company. "Part of our vulnerability on cybersecurity is you're only as strong as your weakest link," he said in an interview with CBS. Companies need to alert the federal government when they are targeted, Granholm said, and stop paying attackers. "You shouldn't be paying ransomware attacks, because it only encourages the bad guys," she said. While she opposes ransomware payments, she said she is uncertain whether Biden or Congress is prepared to outlaw them. Companies should be required to report ransomware attacks, Democratic Senator Mark Warner from Virginia said on Sunday, though he stopped short of saying he supported making such payments illegal. (With inputs from agencies)

US officials up pressure on firms, foreign adversaries over cyberattacks

Britain said on Wednesday a planned new law would see social media companies fined up to 10% of turnover or 18 million pounds ($25 million) if they failed to stamp out online abuses, such as racist hate crimes, while senior managers could also face criminal action.&nbsp;

The Online Safety Bill also seeks to strengthen the right to freedom of expression, and ensure democratic political debate and journalistic content is protected, the government said.&nbsp;

"It's time for tech companies to be held to account and to protect the British people from harm. If they fail to do so, they will face penalties," interior minister Priti Patel said.&nbsp;

Tech firms have been accused of doing far too little to address online abuse, with soccer clubs and other sporting authorities boycotting the world's biggest social media platforms last month to highlight the growing problem.&nbsp;

The bill will place a duty of care on social media firms and websites to ensure they take swift action to remove illegal content, such as hate crimes, harassment and threats directed at individuals, including abuse which falls below the criminal threshold.&nbsp;

There will also be a requirement to remove and limit the spread of terrorist material, suicide content and child sexual abuse, which they would need to report to the authorities.&nbsp;

Those companies, which fail to do so, face hefty fines from regulator Ofcom, which can also block access to their sites.&nbsp;

"The draft Bill contains reserved powers for Ofcom to pursue criminal action against named senior managers whose companies do not comply with Ofcom's requests for information," the government said. "These will be introduced if tech companies fail to live up to their new responsibilities."&nbsp;

The proposed law will also require companies to safeguard freedom of expression, and reinstate material unfairly removed.&nbsp;

It will also forbid tech firms from discriminating against particular political viewpoints, and Ofcom will hold them to account for the arbitrary removal of journalistic content, the government added. &nbsp;

Britain said on Wednesday a planned new law would see social media companies fined up to 10% of turnover or 18 million pounds ($25 million) if they failed to stamp out online abuses, such as racist hate crimes, while senior managers could also face criminal action.

Britain said on Wednesday a planned new law would see social media companies fined up to 10% of turnover or 18 million pounds ($25 million) if they failed to stamp out online abuses, such as racist hate crimes, while senior managers could also face criminal action. The Online Safety Bill also seeks to strengthen the right to freedom of expression, and ensure democratic political debate and journalistic content is protected, the government said. "It's time for tech companies to be held to account and to protect the British people from harm. If they fail to do so, they will face penalties," interior minister Priti Patel said. Tech firms have been accused of doing far too little to address online abuse, with soccer clubs and other sporting authorities boycotting the world's biggest social media platforms last month to highlight the growing problem. The bill will place a duty of care on social media firms and websites to ensure they take swift action to remove illegal content, such as hate crimes, harassment and threats directed at individuals, including abuse which falls below the criminal threshold. There will also be a requirement to remove and limit the spread of terrorist material, suicide content and child sexual abuse, which they would need to report to the authorities. Those companies, which fail to do so, face hefty fines from regulator Ofcom, which can also block access to their sites. "The draft Bill contains reserved powers for Ofcom to pursue criminal action against named senior managers whose companies do not comply with Ofcom's requests for information," the government said. "These will be introduced if tech companies fail to live up to their new responsibilities." The proposed law will also require companies to safeguard freedom of expression, and reinstate material unfairly removed. It will also forbid tech firms from discriminating against particular political viewpoints, and Ofcom will hold them to account for the arbitrary removal of journalistic content, the government added.

UK unveils law to fine social media firms which fail to remove online abuse 

China has rolled out a new anti-espionage regulation, under which the national security authority will draw up lists of companies and organisations that are susceptible to foreign infiltration and require security measures to deal with the threats.&nbsp;

Since 'foreign spies, intelligence agencies and other hostile forces' have intensified their infiltration and intelligence theft against China through more diverse methods and in broader fields, the regulation clarifies 'what, who and how' to guard against foreign espionage, officials from the national security authority said on Monday.&nbsp;

"The regulation is of great significance to improve the legal system in protecting national security by specifying the responsibilities that companies and institutions must bear. It places emphasis on companies and institutions taking precautionary measures against foreign espionage," Li Wei, an expert on national security and anti-terrorism at the China Institute of Contemporary International Relations, told the Global Times.&nbsp;

According to the new regulation, companies, organisations or social groups on the list shoulder the responsibility to roll out detailed measures against foreign espionage, including arranging their working staff to sign letters of commitment before taking up posts, reporting their activities related to national security, giving education to personnel ahead of their departures abroad, and interviewing personnel after their return to China.&nbsp;

"Staff going on business trips to foreign countries, such as countries of the Five Eyes alliance - the US, UK, Australia, Canada and New Zealand - have been told to strictly report their travel destinations, agendas, and meetings with foreign personnel, and they must get approval from their direct superiors before the applications are reviewed by the headquarters," a staff member in charge of foreign affairs at the headquarters of a central state-owned enterprise in Beijing told the daily.&nbsp;

In particular, electrical devices including mobile phones, laptops and USB drives, which usually contain sensitive information, are key objects for intelligence agencies, he said.&nbsp;

Companies are required that their staff involved in sensitive fields or those holding important files to leave their electrical devices at home and bring new ones abroad.&nbsp;

Any companies or institutions within the scope of national defence, diplomacy, economy, finance and high-tech industry should be considered as key fields in terms of possible foreign infiltration, according to Li.&nbsp;

"Cases of Chinese people working in various industries who were wooed by money or intimidated to engage in espionage activities and became pawns of foreign spy intelligence agencies are numerous. Taking preventive measures and avoiding similar incidents that endanger national security is crucial to protecting national security," Li said.&nbsp;

The new law has been introduced amid increasing friction between the US and China. The two countries are currently at loggerheads over a host of issues as the Biden administration continues the tough China policy initiated by the previous Trump administration targeting Beijing on Xinjiang, Hong Kong and Taiwan.&nbsp;

President Joe Biden has beefed-up the US-China policy by uniting America's allies like the UK, the European Union and Japan.&nbsp;

He also held the first quadrilateral summit of the emerging Quad grouping of the US, Australia, Japan and India.&nbsp;

The US, the European Union, the UK and Canada have imposed coordinated sanctions on China over alleged human rights violations against the Uygur Muslims in Xinjiang which Beijing has denied.&nbsp;

These countries have also taken a united position on China, firming up its control over Hong Kong with its new national security law, subduing the massive pro-democracy agitation in the former British colony. &nbsp;

(With inputs from agencies)&nbsp;

China has rolled out a new anti-espionage regulation, under which the national security authority will draw up lists of companies and organisations that are susceptible to foreign infiltration and require security measures to deal with the threats.

China has rolled out a new anti-espionage regulation, under which the national security authority will draw up lists of companies and organisations that are susceptible to foreign infiltration and require security measures to deal with the threats. Since 'foreign spies, intelligence agencies and other hostile forces' have intensified their infiltration and intelligence theft against China through more diverse methods and in broader fields, the regulation clarifies 'what, who and how' to guard against foreign espionage, officials from the national security authority said on Monday. "The regulation is of great significance to improve the legal system in protecting national security by specifying the responsibilities that companies and institutions must bear. It places emphasis on companies and institutions taking precautionary measures against foreign espionage," Li Wei, an expert on national security and anti-terrorism at the China Institute of Contemporary International Relations, told the Global Times. According to the new regulation, companies, organisations or social groups on the list shoulder the responsibility to roll out detailed measures against foreign espionage, including arranging their working staff to sign letters of commitment before taking up posts, reporting their activities related to national security, giving education to personnel ahead of their departures abroad, and interviewing personnel after their return to China. "Staff going on business trips to foreign countries, such as countries of the Five Eyes alliance - the US, UK, Australia, Canada and New Zealand - have been told to strictly report their travel destinations, agendas, and meetings with foreign personnel, and they must get approval from their direct superiors before the applications are reviewed by the headquarters," a staff member in charge of foreign affairs at the headquarters of a central state-owned enterprise in Beijing told the daily. In particular, electrical devices including mobile phones, laptops and USB drives, which usually contain sensitive information, are key objects for intelligence agencies, he said. Companies are required that their staff involved in sensitive fields or those holding important files to leave their electrical devices at home and bring new ones abroad. Any companies or institutions within the scope of national defence, diplomacy, economy, finance and high-tech industry should be considered as key fields in terms of possible foreign infiltration, according to Li. "Cases of Chinese people working in various industries who were wooed by money or intimidated to engage in espionage activities and became pawns of foreign spy intelligence agencies are numerous. Taking preventive measures and avoiding similar incidents that endanger national security is crucial to protecting national security," Li said. The new law has been introduced amid increasing friction between the US and China. The two countries are currently at loggerheads over a host of issues as the Biden administration continues the tough China policy initiated by the previous Trump administration targeting Beijing on Xinjiang, Hong Kong and Taiwan. President Joe Biden has beefed-up the US-China policy by uniting America's allies like the UK, the European Union and Japan. He also held the first quadrilateral summit of the emerging Quad grouping of the US, Australia, Japan and India. The US, the European Union, the UK and Canada have imposed coordinated sanctions on China over alleged human rights violations against the Uygur Muslims in Xinjiang which Beijing has denied. These countries have also taken a united position on China, firming up its control over Hong Kong with its new national security law, subduing the massive pro-democracy agitation in the former British colony. (With inputs from agencies)

China adopts new anti-espionage law to avert 'foreign infiltration' in key firms

Chinese regulators have warned 34 technology giants, including Baidu and Tencent, to 'rectify' any anti-competitive measures, a statement said on Tuesday, days after e-commerce giant Alibaba was fined nearly $2.8 billion for abusing its dominant market position.&nbsp;

The move suggests Beijing's scrutiny of its most powerful tech firms is far from over, with regulators warning they will continue to eradicate monopoly practices and telling internet companies to 'heed the warning of Alibaba's case’.&nbsp;

Companies summoned by the regulator include internet giants Baidu, Tencent and ByteDance, the owner of TikTok.&nbsp;

The 34 firms have been given one month to undergo 'complete rectification' after conducting internal checks and inspections, the statement said, and to correct any practices which 'harms competition’.&nbsp;

Unfair competition "hinders innovation and development, and harms the interests of operators and consumers," the statement said, telling the companies to give 'priority to national interests'.&nbsp;

The meeting was organised jointly by the antitrust watchdog with the cyberspace and tax regulators.&nbsp;

Bloomberg Intelligence senior analyst Vey-Sern Ling said the move was "positive because (regulators are) giving the platform one month to review their practices, rather than dish out fines and penalties without warning."&nbsp;

"They are using Alibaba as an example to deter misbehaviour from the rest of the industry players."&nbsp;

Alibaba was hit with a $2.78 billion fine on Saturday after a months-long probe.&nbsp;

The statement also came a day after fintech firm Ant Group announced it would comply with an overhaul outlined by regulators and become a financial holding company, meaning in the future it will be supervised more like a bank.&nbsp;

Tech giants like Alibaba, JD.com and Tencent became hugely profitable on the back of growing Chinese digital lifestyles, relatively lax legislation and the government's 'great firewall', which bans some major US competitors.&nbsp;

But Beijing has been getting tougher on the sector in recent months over allegations of anti-competitive behaviour and misuse of consumer data.&nbsp;

(With inputs from agencies)&nbsp;

Chinese regulators have warned 34 technology giants, including Baidu and Tencent, to 'rectify' any anti-competitive measures, a statement said on Tuesday, days after e-commerce giant Alibaba was fined nearly $2.

Chinese regulators have warned 34 technology giants, including Baidu and Tencent, to 'rectify' any anti-competitive measures, a statement said on Tuesday, days after e-commerce giant Alibaba was fined nearly $2.8 billion for abusing its dominant market position. The move suggests Beijing's scrutiny of its most powerful tech firms is far from over, with regulators warning they will continue to eradicate monopoly practices and telling internet companies to 'heed the warning of Alibaba's case’. Companies summoned by the regulator include internet giants Baidu, Tencent and ByteDance, the owner of TikTok. The 34 firms have been given one month to undergo 'complete rectification' after conducting internal checks and inspections, the statement said, and to correct any practices which 'harms competition’. Unfair competition "hinders innovation and development, and harms the interests of operators and consumers," the statement said, telling the companies to give 'priority to national interests'. The meeting was organised jointly by the antitrust watchdog with the cyberspace and tax regulators. Bloomberg Intelligence senior analyst Vey-Sern Ling said the move was "positive because (regulators are) giving the platform one month to review their practices, rather than dish out fines and penalties without warning." "They are using Alibaba as an example to deter misbehaviour from the rest of the industry players." Alibaba was hit with a $2.78 billion fine on Saturday after a months-long probe. The statement also came a day after fintech firm Ant Group announced it would comply with an overhaul outlined by regulators and become a financial holding company, meaning in the future it will be supervised more like a bank. Tech giants like Alibaba, JD.com and Tencent became hugely profitable on the back of growing Chinese digital lifestyles, relatively lax legislation and the government's 'great firewall', which bans some major US competitors. But Beijing has been getting tougher on the sector in recent months over allegations of anti-competitive behaviour and misuse of consumer data. (With inputs from agencies)

China warns 34 tech firms to 'rectify' any anti-competitive measures after record Alibaba fine

China has asked its state firms in Myanmar to evacuate non-essential staff following attacks on Chinese factories and businesses by anti-coup protesters, who accused Beijing of backing the military junta that ousted the elected government of Aung San Suu Kyi last&nbsp;month.&nbsp;

China has told its state firms to evacuate non-essential staff from Myanmar after dozens of Chinese-run factories were attacked on Sunday, amid rising anti-China sentiment, Hong Kong-based South China Morning Post reported on Wednesday.&nbsp;

China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in a notice ordered state-owned enterprises in Myanmar to evacuate staff involved in projects that had come to a halt.&nbsp;

Other staff to be pulled out of the&nbsp;neighbouring&nbsp;country include those who have reached the end of their rotations, workers who have not yet been inoculated against the coronavirus, employees living on remote sites and those facing serious local situations, according to the notice.&nbsp;

Asked about reports of evacuation, Chinese Foreign Ministry spokesman Zhao&nbsp;Lijian&nbsp;during a media briefing here on Wednesday said that China is following the situation in Myanmar closely and attach importance to the safety of our institutes and personnel in Myanmar.&nbsp;

"We hope the Myanmar side will take concrete measures and take more vigorous actions to ensure their safety," he said.&nbsp;

A state construction firm employee working on an infrastructure project in Myanmar confirmed to the daily that he had received the instructions from SASAC, which oversees 90 national-level SOEs in China.&nbsp;

"We received it over the weekend when some Chinese-invested factories were attacked," a source was quoted as saying.&nbsp;

"In fact, almost all projects have already stopped here. We are discussing who shall stay back to watch developments. I think most of us will head home as nothing much can be done," he said.&nbsp;

According to state-run Global Times, 32 Chinese factories have been&nbsp;vandalised&nbsp;in the attacks in Yangon. The property loss was estimated to be about 240 million yuan (USD 36.89 million), the Chinese Embassy in Myanmar told the Global Times on Monday.&nbsp;

(With inputs from agencies)&nbsp;

China has asked its state firms in Myanmar to evacuate non-essential staff following attacks on Chinese factories and businesses by anti-coup protesters, who accused Beijing of backing the military junta that ousted the elected government of Aung San Suu Kyi last month.

China has asked its state firms in Myanmar to evacuate non-essential staff following attacks on Chinese factories and businesses by anti-coup protesters, who accused Beijing of backing the military junta that ousted the elected government of Aung San Suu Kyi last month. China has told its state firms to evacuate non-essential staff from Myanmar after dozens of Chinese-run factories were attacked on Sunday, amid rising anti-China sentiment, Hong Kong-based South China Morning Post reported on Wednesday. China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in a notice ordered state-owned enterprises in Myanmar to evacuate staff involved in projects that had come to a halt. Other staff to be pulled out of the neighbouring country include those who have reached the end of their rotations, workers who have not yet been inoculated against the coronavirus, employees living on remote sites and those facing serious local situations, according to the notice. Asked about reports of evacuation, Chinese Foreign Ministry spokesman Zhao Lijian during a media briefing here on Wednesday said that China is following the situation in Myanmar closely and attach importance to the safety of our institutes and personnel in Myanmar. "We hope the Myanmar side will take concrete measures and take more vigorous actions to ensure their safety," he said. A state construction firm employee working on an infrastructure project in Myanmar confirmed to the daily that he had received the instructions from SASAC, which oversees 90 national-level SOEs in China. "We received it over the weekend when some Chinese-invested factories were attacked," a source was quoted as saying. "In fact, almost all projects have already stopped here. We are discussing who shall stay back to watch developments. I think most of us will head home as nothing much can be done," he said. According to state-run Global Times, 32 Chinese factories have been vandalised in the attacks in Yangon. The property loss was estimated to be about 240 million yuan (USD 36.89 million), the Chinese Embassy in Myanmar told the Global Times on Monday. (With inputs from agencies)

China asks its state firms in Myanmar to evacuate non-essential staff: Report 

US&nbsp;Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021.

Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies, prompting China to call for frank dialogue.

Mnuchin told a White House briefing the SEC was expected to adopt the recommendations. "As of the end of next year ... they all have to comply with the same exact accounting, or they will be delisted on the exchanges," he said.

Also read:&nbsp;<a href="/opinions-blogs/us-china-trade-deal-what-were-the-key-issues-and-are-they-resolved-275073" hreflang="en">US China trade deal: What were the key issues and are they resolved?</a>

The recommendation is part of a push by the Trump administration to correct what it calls major imbalances in ties between the world's two largest economies. Tensions between the two countries have flared in past months over China's handling of the coronavirus outbreak, Hong Kong and human rights.

U.S. President Donald Trump said China was also failing to meet its commitments to buy more U.S. goods under a Phase 1 trade deal signed in January, although he said purchases should increase next year.

"We did a Phase 1 deal and it was a wonderful deal, and all of a sudden it means very little in the overall import of things," Trump told reporters.

He said increased purchases of U.S. goods required under the trade deal would "never pay for the loss of life in our country and all over the world."

Trump also repeated his calls for the World Trade Organization to stop treating China as a developing country, arguing that doing so gave Beijing unfair advantages over the United States and other countries.

China argues the classification is justified since many of its regions are still developing.

US Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.

US Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021. Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies, prompting China to call for frank dialogue. Mnuchin told a White House briefing the SEC was expected to adopt the recommendations. "As of the end of next year ... they all have to comply with the same exact accounting, or they will be delisted on the exchanges," he said. Also read: US China trade deal: What were the key issues and are they resolved? The recommendation is part of a push by the Trump administration to correct what it calls major imbalances in ties between the world's two largest economies. Tensions between the two countries have flared in past months over China's handling of the coronavirus outbreak, Hong Kong and human rights. U.S. President Donald Trump said China was also failing to meet its commitments to buy more U.S. goods under a Phase 1 trade deal signed in January, although he said purchases should increase next year. "We did a Phase 1 deal and it was a wonderful deal, and all of a sudden it means very little in the overall import of things," Trump told reporters. He said increased purchases of U.S. goods required under the trade deal would "never pay for the loss of life in our country and all over the world." Trump also repeated his calls for the World Trade Organization to stop treating China as a developing country, arguing that doing so gave Beijing unfair advantages over the United States and other countries. China argues the classification is justified since many of its regions are still developing.

Chinese firms that fail US accounting standards to be delisted as of 2022: Mnuchin

Images from NASA's Fire Information for Resource Management System (FIRMS) depict large areas of India lit up in red suggesting active fire locations.

A large chunk of the 'fire locations' are seen spread across north and central India.

NASA's FIRMS depicts "near real-time active fire locations to natural resource managers that faced challenges obtaining timely satellite-derived fire information," mentions the official.&nbsp;

The active fire locations shown on maps are a combination of forest fire locations as well as crop burning sites.

The International Strategy for Disaster Reduction (ISDR) describes 33 to 90 per cent of forest area in various Indian states as fire prone.&nbsp;

"While statistical data on fire loss is weak, it is estimated that the proportion of forest areas prone to fires annually ranges from 33% in some states to over 90% in other. About 90% of the forest fires in India are created by humans. India witnessed the most severe forest fires in the recent time during the summer of 1995 in the hills of Uttar Pradesh & Himachal Pradesh. The fires were very severe. An area of 677,700 ha was affected by fires," mentioned the ISDR website.&nbsp;

On the other hand, agricultural experts primarily link the highly active 'fire spots' in India to the increased practice of crop burning across the country.&nbsp;

Farmers prefer burning agricultural residue as it is cheaper and can easily be done without employing labour. Using a harvester usually slashes the expense of getting rid of the agricultural residue by more than half.&nbsp;

Burning crop residue contributes to the rising black carbon emissions in the country, air pollution and escalating temperatures, especially during summers.&nbsp;

NASA's FIRMS depicts 'near real-time active fire locations to natural resource managers that faced challenges obtaining timely satellite-derived fire information'

Images from NASA's Fire Information for Resource Management System (FIRMS) depict large areas of India lit up in red suggesting active fire locations. A large chunk of the 'fire locations' are seen spread across north and central India. NASA's FIRMS depicts "near real-time active fire locations to natural resource managers that faced challenges obtaining timely satellite-derived fire information," mentions the official. The active fire locations shown on maps are a combination of forest fire locations as well as crop burning sites. The International Strategy for Disaster Reduction (ISDR) describes 33 to 90 per cent of forest area in various Indian states as fire prone. "While statistical data on fire loss is weak, it is estimated that the proportion of forest areas prone to fires annually ranges from 33% in some states to over 90% in other. About 90% of the forest fires in India are created by humans. India witnessed the most severe forest fires in the recent time during the summer of 1995 in the hills of Uttar Pradesh & Himachal Pradesh. The fires were very severe. An area of 677,700 ha was affected by fires," mentioned the ISDR website. On the other hand, agricultural experts primarily link the highly active 'fire spots' in India to the increased practice of crop burning across the country. Farmers prefer burning agricultural residue as it is cheaper and can easily be done without employing labour. Using a harvester usually slashes the expense of getting rid of the agricultural residue by more than half. Burning crop residue contributes to the rising black carbon emissions in the country, air pollution and escalating temperatures, especially during summers.

NASA's fire information system shows India studded with 'active fire spots'

Indian manufacturers of finished steel goods are urging New Delhi to end tariffs on cheap imports of the alloy from China, Japan and South Korea, worried the protectionist measures may cost them billions in lost overseas sales.&nbsp; 
 
India put the tariffs in place in February to ensure a minimum import price (MIP) for 173 steel products, mainly to guard against cheap Chinese exports of around 10 million tonnes a month of items such as hot-rolled and cold-rolled steel that have undercut US European and Asian producers.&nbsp; 
 
The gambit to protect India&#39;s domestic steelmakers is threatening export revenues earned by engineering and manufacturing companies as artificially high prices for a primary raw material for everything from home appliances to ships make their products uncompetitive in foreign markets.&nbsp; 
 
The MIP policy has hit engineering firms especially hard. These mostly small- to mid-sized companies together export goods worth $56 billion a year, a fifth of India&#39;s shipped merchandise, made at least partly with steel now priced 15 per cent higher on average than at end-2015 and up to 30 per cent more than Chinese imports.&nbsp; 
 
&quot;My input cost is 40 per cent higher than other nations. How will my finished product compete?&quot; Pankaj Chaddha, CEO of Jyoti Steel Industries, said of the MIP tariffs.&nbsp; 
 
Jyoti Steel, a Mumbai manufacturer of stainless steel wire and carbon steel bright bars, cut 50 of its 300 jobs after MIP was introduced, and its output slumped by 22 per cent in the April-June quarter.&nbsp; 
 
Chaddha said he would have to lay off another 50 contract workers if the policy was extended past its August 5 expiry date. 
 
Also hanging over India&#39;s steel sector is a separate recommendation that the government enact anti-dumping duties on imports of hot-rolled steel products from China, Japan, South Korea, Russia, Brazil and Indonesia. 
 
 
Cold-roll steel mills shut down 
 
Indian prices of hot-rolled steel, used to make pipes, rods, cars, ships and industrial machinery, rose by more than 15 per cent to 37,000 rupees ($554) a tonne between December and early May, according to the latest data available. 
 
Chinese prices moved from $270 a tonne in December to $420 a tonne in April, before softening again.&nbsp; 
 
Trade body EEPC India said engineering goods exports would drop 10 per cent this year if MIP is extended. The group has gone before the trade ministry several times to ask that the import policy be allowed to lapse, and members have also met with the steel ministry on the issue.&nbsp; 
 
India&#39;s indebted steel sector, though, struggling with low profit amid a global supply glut, has lobbied hard for it to be kept in place.&nbsp;By making foreign steel too expensive, domestic steelmakers such as Steel Authority of India, Tata Steel and JSW Steel have been able to raise prices.&nbsp; 
 
But higher prices, besides hampering exporters, have pushed steel processing firms such as Adhunik Metaliks, Jayaswal Neco and Sujana Metal Products into losses.&nbsp; 
 
About 20 of 60 mills on his membership list have shut, said SC Mathur, executive director of Cold Rolled Steel Manufacturers Association of India. 
 
&quot;Others are operating at 40-50 per cent of capacity and incurring losses.&quot;&nbsp; 
 
 
Not just India vs China 
 
China, the world&#39;s largest steel manufacturer and consumer, produced 804 million tonnes last year, about half of global supply, using just 70 per cent of its capacity.&nbsp; 
 
India, along with the United States, Europe and others, has said that even as Beijing works to downsize its overblown sector, Chinese mills are exporting their excess supply. 
 
India, the world&#39;s third-largest producer with an estimated output of 90 million tonnes, consumed about 80 million tonnes of finished steel in the year through March 2016.&nbsp;It imported about 11 million tonnes that year, according to the steel ministry&#39;s Joint Plant Committee (JPC), with China supplying around 47 per cent.&nbsp; 
 
(Reuters)

A price policy to protect Indian markets from cheap imports are affecting cold-roll steel mills

Indian manufacturers of finished steel goods are urging New Delhi to end tariffs on cheap imports of the alloy from China, Japan and South Korea, worried the protectionist measures may cost them billions in lost overseas sales. India put the tariffs in place in February to ensure a minimum import price (MIP) for 173 steel products, mainly to guard against cheap Chinese exports of around 10 million tonnes a month of items such as hot-rolled and cold-rolled steel that have undercut US European and Asian producers. The gambit to protect India's domestic steelmakers is threatening export revenues earned by engineering and manufacturing companies as artificially high prices for a primary raw material for everything from home appliances to ships make their products uncompetitive in foreign markets. The MIP policy has hit engineering firms especially hard. These mostly small- to mid-sized companies together export goods worth $56 billion a year, a fifth of India's shipped merchandise, made at least partly with steel now priced 15 per cent higher on average than at end-2015 and up to 30 per cent more than Chinese imports. "My input cost is 40 per cent higher than other nations. How will my finished product compete?" Pankaj Chaddha, CEO of Jyoti Steel Industries, said of the MIP tariffs. Jyoti Steel, a Mumbai manufacturer of stainless steel wire and carbon steel bright bars, cut 50 of its 300 jobs after MIP was introduced, and its output slumped by 22 per cent in the April-June quarter. Chaddha said he would have to lay off another 50 contract workers if the policy was extended past its August 5 expiry date. Also hanging over India's steel sector is a separate recommendation that the government enact anti-dumping duties on imports of hot-rolled steel products from China, Japan, South Korea, Russia, Brazil and Indonesia. Cold-roll steel mills shut down Indian prices of hot-rolled steel, used to make pipes, rods, cars, ships and industrial machinery, rose by more than 15 per cent to 37,000 rupees ($554) a tonne between December and early May, according to the latest data available. Chinese prices moved from $270 a tonne in December to $420 a tonne in April, before softening again. Trade body EEPC India said engineering goods exports would drop 10 per cent this year if MIP is extended. The group has gone before the trade ministry several times to ask that the import policy be allowed to lapse, and members have also met with the steel ministry on the issue. India's indebted steel sector, though, struggling with low profit amid a global supply glut, has lobbied hard for it to be kept in place. By making foreign steel too expensive, domestic steelmakers such as Steel Authority of India, Tata Steel and JSW Steel have been able to raise prices. But higher prices, besides hampering exporters, have pushed steel processing firms such as Adhunik Metaliks, Jayaswal Neco and Sujana Metal Products into losses. About 20 of 60 mills on his membership list have shut, said SC Mathur, executive director of Cold Rolled Steel Manufacturers Association of India. "Others are operating at 40-50 per cent of capacity and incurring losses." Not just India vs China China, the world's largest steel manufacturer and consumer, produced 804 million tonnes last year, about half of global supply, using just 70 per cent of its capacity. India, along with the United States, Europe and others, has said that even as Beijing works to downsize its overblown sector, Chinese mills are exporting their excess supply. India, the world's third-largest producer with an estimated output of 90 million tonnes, consumed about 80 million tonnes of finished steel in the year through March 2016. It imported about 11 million tonnes that year, according to the steel ministry's Joint Plant Committee (JPC), with China supplying around 47 per cent. (Reuters)

India's anti-China steel tariffs harm engineering, manufacturing firms

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