French plans to veto foreign takeovers in newly defined "strategic" sectors are coming under fire from critics -- including companies the government had vowed to protect.
A soon-to-be-published decree, touted by ministers after rumors of a PepsiCo Inc bid for French company Danone SA provoked a political outcry in July, would give the government a veto over takeovers in 10 industries sensitive to national security.
Sectors on the list, already confirmed by the finance ministry, include several over which most states retain tight control, such as arms manufacturing and encryption.
But the decree also covers companies with activities in biotechnology, data security, casinos and antidote production -- fueling concern that it could lead to a broader kind of protectionism.
French Prime Minister Dominique de Villepin, who vowed publicly to defend Danone from US-based PepsiCo in July, unveiled the new measures in a speech in which he also called for greater "economic patriotism."
EU Internal Market Commissioner Charlie McCreevy said he would "vigorously pursue" breaches of EU law during attempts to thwart foreign takeovers.
Beijing’s continued provocations in the Taiwan Strait reveal its intention to unilaterally change the “status quo” in the area, the US Department of State said on Saturday, calling for a peaceful resolution to cross-strait issues. The Coast Guard Administration (CGA) reported that four China Coast Guard patrol vessels entered restricted and prohibited waters near Kinmen County on Friday and again on Saturday. A State Department spokesperson said that Washington was aware of the incidents, and urged all parties to exercise restraint and refrain from unilaterally changing the “status quo.” “Maintaining peace and stability across the Taiwan Strait is in line with our [the
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READY TO WORK: Taiwan is eager to cooperate and is hopeful that like-minded states will continue to advocate for its inclusion in regional organizations, Lai said Maintaining the “status quo” in the Taiwan Strait, and peace and stability in the Indo-Pacific region must be a top priority, president-elect William Lai (賴清德) said yesterday after meeting with a delegation of US academics. Leaders of the G7, US President Joe Biden and other international heads of state have voiced concerns about the situation in the Strait, as stability in the region is necessary for a safe, peaceful and prosperous world, Lai said. The vice president, who is to be inaugurated in May, welcomed the delegation and thanked them for their support for Taiwan and issues concerning the Strait. The international community
COOPERATION: Two crewmembers from a Chinese fishing boat that sank off Kinmen were rescued, two were found dead and another two were still missing at press time The Coast Guard Administration (CGA) was yesterday working with Chinese rescuers to find two missing crewmembers from a Chinese fishing boat that sank southwest of Kinmen County yesterday, killing two crew. The joint operation managed to rescue two of the boat’s six crewmembers, but two were already dead when they were pulled from the water, the agency said in a statement. Rescuers are still searching for two others from the Min Long Yu 61222, a boat registered in China’s Fujian Province that capsized and sank 1.03 nautical miles (1.9km) southwest of Dongding Island (東碇), it added. CGA Director-General Chou Mei-wu (周美伍) told a