Inkhabar webdesk

By Toby Sterling AMSTERDAM (Reuters) -The Dutch government has taken control of Chinese-owned computer chipmaker Nexperia, ratcheting up tensions with Beijing as a global fight brews over technology intellectual property, especially around semiconductors. The government said late on Sunday that it has intervened in Nijmegen-headquartered Nexperia, which manufactures chips for cars and consumer electronics. It cited worries about the possible transfer of technology to Nexperia's Chinese parent company, Wingtech.  Amsterdam invoked never-before-used powers under a Dutch law known as the "Availability of Goods Act". The decision led to a 10% fall in Wingtech's shares in Shanghai on Monday. The Dutch government will not take ownership of Nexperia, but it will now have the power to reverse or block management decisions it considers harmful. The company's regular production is continuing. WINGTECH SAYS DECISION DRIVEN BY 'GEOPOLITICAL BIAS' U.S. President Donald Trump is ratcheting up pressure on Chinese tech firms as part of a broader trade war that saw him threaten 100% tariffs on China's exports last week. The U.S. and the Netherlands typically cooperate closely on computer chip industry export controls. A Dutch Economic Affairs Ministry spokesperson, however, said there was no U.S. involvement in its decision regarding Nexperia and the timing was "purely coincidental". Washington last month expanded a list of blacklisted firms seen as threats to national security to include subsidiaries. Wingtech had already been placed on the United States' "entity list" in December 2024 for its alleged role "in aiding China's government's efforts to acquire entities with sensitive semiconductor manufacturing capability." Nexperia, which is 100%-owned by Wingtech, said at the time that it would comply with the U.S. rules, though it said its operations were kept at arm's length from its Chinese parent. Wingtech called the Dutch government's intervention in Nexperia, once part of Dutch electronics group Philips, "excessive interference driven by geopolitical bias". Wingtech also alleged that non-Chinese Nexperia executives had tried to forcibly alter the company's equity structure through legal proceedings in a "cloaked power grab" on the company. Wingtech said in a statement that it was consulting with lawyers and seeking government support to "protect the legitimate rights and interests of the company". Nexperia, which Wingtech bought for $3.63 billion in 2018, said it complied with all relevant laws and regulations. COURT ORDERED WINGTECH CHAIR SUSPENDED FROM NEXPERIA BOARD In its statement, the Dutch government cited issues around "crucial technological knowledge" without elaborating. "The loss of these capabilities could pose a risk to Dutch and European economic security," it said. Nexperia is one of the world's largest makers of simple computer chips such as diodes and transistors, though it also develops more advanced technologies such as "wide gap" semiconductors used in electrical settings and useful for electric cars, chargers and AI data centres. Wingtech said in a filing to the Shanghai stock exchange on Monday that its control over Nexperia would be temporarily restricted due to the Dutch order and court rulings, affecting decision making and operational efficiency.  Wingtech said its chairman Zhang Xuezheng was suspended from Nexperia's boards by an Amsterdam court order on October 6, and an independent non-Chinese person with a "deciding vote" would be appointed in his place. In addition to the United States, Wingtech has had run-ins before with other Western governments over its operations, with Britain ordering it to divest ownership of a facility in Newport. The Netherlands scrutinised Nexperia's purchase of startup Nowi in 2023. (Reporting by Toby Sterling; additional reporting by Samuel Shen and Brenda Goh in Shanghai. Editing by Diane Craft, Edmund Klamann, Michael Perry and Joe Bavier)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Florence Tan SINGAPORE (Reuters) -The latest U.S. sanctions on a major Chinese crude oil terminal have forced refining group Sinopec to divert a supertanker and ask some plants to cut crude processing rates, according to ship tracking data and Chinese consultancies. A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the weekend after the U.S. imposed sanctions on an import terminal at the port on Friday, LSEG data showed. Shortly after the U.S. announcement, Sinopec told about half a dozen subsidiary refineries that receive crude oil from the designated terminal to cut operation rates to 80% for the rest of October, Chinese consultancy Sublime China Information wrote in a market update late on Friday. Another consultancy, JLC, estimated on Saturday that Sinopec's October runs may drop 3.36% from earlier plans to about 5.16 million barrels per day. Sinopec did not immediately respond to requests for comment. LSEG data showed the supertanker New Vista, chartered by Sinopec's trading arm Unipec and originally scheduled to discharge at Rizhao on Sunday, had switched its destination to the ports of Ningbo and Zhoushan for arrival on October 15. The New Vista can carry 2 million barrels of crude and is currently carrying Abu Dhabi's Upper Zakum crude grade. The Rizhao Shihua Crude Oil Terminal, half-owned by a Sinopec logistics unit, was among the entities listed by the U.S. Treasury in a round of sanctions that also includes ships transporting Iranian crude oil and liquefied petroleum gas. The terminal, in the city of Lanshan in Shandong province, a major Chinese oil refining hub, was sanctioned for receiving Iranian oil on board sanctioned vessels, the U.S. said. One-fifth of Sinopec's crude oil imports pass through the Rizhao terminal, according to industry executives and analysts. (Reporting by Florence Tan and Trixie Yap; Additional reporting by Chen Aizhu; Editing by Christian Schmollinger and Jan Harvey)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Renju Jose SYDNEY (Reuters) -Alphabet-owned Google on Monday said it would be "extremely difficult" for Australia to enforce a law prohibiting people younger than 16 from using social media, warning that the government's initiative would not make children safer online. Governments and tech firms around the world are closely watching Australia, which in December will become the first country to block the use of social media by people younger than 16. Social media platforms will not be required to conduct age verification procedures; instead, they will be asked to use artificial intelligence and behavioural data to reliably infer age. In a parliamentary hearing on online safety rules on Monday, YouTube's senior manager of government affairs in Australia, Rachel Lord, said the government's programme was well-intentioned, but it could have "unintended consequences." "The legislation will not only be extremely difficult to enforce, it also does not fulfil its promise of making kids safer online," Lord said. When asked if Google was lobbying officials in Washington to raise the issue when Australian Prime Minister Anthony Albanese meets U.S. President Donald Trump in Washington next week, Google Australia's government affairs director Stef Lovett said her U.S. colleagues were aware of the issues that the company faces in Australia. In July, Australia added YouTube to a list of sites covered by the legislation – reversing an earlier decision to exempt it due to its popularity with teachers – following complaints from other tech firms. Google contends that YouTube is a video-sharing site, not a social media platform. "Well-crafted legislation can be an effective tool to build on industry efforts to keep children safer online," Lord said. "But the solution to keeping kids safer online is not stopping them from being online." Instead, she said, online safety tools must be used to protect children and parents should be given the controls to guide their online experiences. Australia, concerned about the impact of social media on the mental health of young people, passed its Online Safety Amendment in November 2024. It gave companies a year to comply and they face a Dec. 10 deadline to deactivate the accounts of underage users. (Reporting by Renju Jose in Sydney; Editing by Thomas Derpinghaus.)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)