FINWIRES · TerminalLIVE
FINWIRES

China Toughens Overseas Investment Rules Following Blocked Meta-Manus Deal

By

China released stricter rules for overseas deals involving Chinese investors, technology, data and national security, according to a Monday document by the State Council.

The rules, taking effect July 1, will require authorization of exports of goods, technologies, services, and related data, among other provisions.

China will also disallow cross-border training for personnel working in restricted services without government permission.

Beijing's new regulations provide a legal basis for cancelling completed overseas transactions, such as the Meta-Manus deal, Reuters reported separately.

The rules targeted moves such as those from Manus, which moved its top talent to Singapore before the purchase by Meta, the newswire said.

Related Articles

Asia

BHI Bags KRW188.3 Billion Power Generation Equipment Project

BHI (KOSDAQ:A083650) secured a KRW188.3 billion project for the supply of LNG combined cycle power generation equipment to Toshiba Plant Systems and Services, according to a Monday filing with the Korean Exchange.The seven-year project will be executed in-house, with payment terms to be settled within 30 days of invoice receipt.

$KOSDAQ:A083650
Asia

Innometry Secures KRW5.3 Billion Battery Equipment Order

Innomentry (KOSDAQ:A302430) secured a contract to supply secondary battery inspection equipment to a US buyer worth 5.3 billion won, according to a Monday filing with the Korean Exchange.The payment terms are structured in three milestones which includes a 30% advance payment within 25 days of the order.

$KOSDAQ:A302430
Asia

Market Chatter: Indian Refiners Hold Domestic Jet Fuel Prices Steady After Airlines Seek Relief

India's state-owned refiners have kept aviation turbine fuel prices unchanged for domestic flights for June after airlines sought a pause in further increases amid pressure from the Iran conflict, Bloomberg News reported Monday, citing company spokespersons.The domestic jet fuel price in New Delhi remains at 104,927 rupees per kiloliter, the report noted. The refiners have also reduced fuel prices for international flights, although details of the cut were not disclosed, according to the report.The airlines had asked refiners, including Indian Oil Corp. (NSE:IOC, BOM:530965) and Bharat Petroleum Corp. (NSE:BPCL, BOM:500547), to avoid price hikes for domestic flights until end of the U.S.-Iran war, after an 8.6% increase in April, citing pressure on travel demand and higher costs, Bloomberg reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^BSE$^NSEI$BOM:500547$BOM:530965$NSE:BPCL$NSE:IOC