logo
FCC says China Mobile could face US fines for failing to cooperate in probe

FCC says China Mobile could face US fines for failing to cooperate in probe

Time of India3 days ago

HighlightsThe Federal Communications Commission has threatened to fine China Mobile for not responding to inquiries regarding its U.S. operations amid concerns of evading American restrictions. The Federal Communications Commission previously barred China Mobile and other Chinese companies from providing telecommunications services in the United States due to national security concerns. The Federal Communications Commission is investigating multiple Chinese companies, including Huawei Technologies, ZTE, and China Telecom, to assess whether they are attempting to bypass U.S. restrictions.
The Federal Communications Commission said on Tuesday it could fine China Mobile for failing to answer questions in the agency's probe to determine if its U.S. operations are seeking to evade American restrictions.
The regulator previously barred China Mobile and other Chinese companies from providing telecommunications services in the United States, citing
national security concerns
. The FCC said in March it was investigating nine Chinese companies including China Mobile, Huawei Technologies, ZTE, Hangzhou Hikvision and China Telecom to determine if they are seeking to evade U.S. restrictions.
The FCC citation issued to China Mobile disclosed the commission has been probing the company's U.S. operations since November 2022. In February, the FCC sent China Mobile a supplemental letter asking additional questions.
The FCC accused China Mobile of misconduct and said the company failed to provide the specific information and documentation requested.
"China Mobile's conduct throughout this matter exhibits a disregard for the Commission's authority and threatens to compromise the Commission's ability to adequately investigate," the FCC said. It gave China Mobile 30 days to answer numerous questions or face fines.
China Mobile did not immediately respond to a request for comment. The FCC said in 2019 China Mobile was indirectly owned and controlled by the Chinese government and noted a significant possibility that Beijing's influence and control could result in "computer intrusions and attacks and economic espionage."
FCC Chair Brendan Carr said in March the Chinese companies may be still operating in the United States because they do not believe the designation prohibits particular types of operations. Other companies under investigation include Hytera Communications, Dahua Technology Company , Pacifica Networks/ComNet and China Unicom (Americas).

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

‘Great day for Africa': Trump administration brokers Congo-Rwanda treaty to end mineral war; US President says he deserves Nobel Peace Prize
‘Great day for Africa': Trump administration brokers Congo-Rwanda treaty to end mineral war; US President says he deserves Nobel Peace Prize

Time of India

timean hour ago

  • Time of India

‘Great day for Africa': Trump administration brokers Congo-Rwanda treaty to end mineral war; US President says he deserves Nobel Peace Prize

In what he called 'a Great Day for Africa,' US President Donald Trump on Friday announced on Truth Social that his administration, with Secretary of State Marco Rubio, has successfully brokered a peace agreement between the Democratic Republic of the Congo (DRC) and Rwanda. The treaty is aimed at ending one of Africa's deadliest and longest-running conflicts and is due to be formally signed in Washington on June 27. 'I am very happy to report that I have arranged, along with Secretary of State Marco Rubio, a wonderful Treaty between the Democratic Republic of the Congo, and the Republic of Rwanda, in their War, which was known for violent bloodshed and death, more so even than most other Wars,' Trump wrote. 'This is a Great Day for Africa and, quite frankly, a Great Day for the World!' The announcement follows three days of closed-door talks in Washington between representatives of the two nations. The conflict is centred in the mineral-rich eastern provinces of the DRC and has claimed over six million lives over the past three decades. The turmoil is fuelled by competition for control over valuable resources such as coltan, cobalt, lithium, and gold. The peace deal was initiated at the invitation of DRC President Félix Tshisekedi, who requested Trump's administration to step in after multiple failed attempts at reconciliation, reports CBS News. According to the US State Department, the agreement includes commitments to halt hostilities, respect territorial boundaries, disarm rebel groups, facilitate the return of displaced persons, and integrate local economies. 'Transactional diplomacy' While many welcome the potential end to hostilities, analysts remain cautious. Daniel Van Dalen, a senior analyst at Signal Risk, an Africa-focused intelligence firm, noted that the deal marks a shift in American strategy on the continent. 'The days of diplomatic soft power are over,' he said. 'This is transactional diplomacy at work.' One major concern is the M23 militia, which controls parts of eastern DRC but was not part of the peace talks. The group is believed to be supported by Rwanda, although Rwandan officials have always denied this. M23 has recently taken over areas in two provinces. 'The M23 are still pushing, in spite of peace negotiations, for territorial gains,' Van Dalen warned. Sources told CBS News that Rwanda may agree to withdraw troops believed to be supporting M23 fighters, while the DRC might allow small-scale mining in its territory to be routed through Rwanda. However, without M23's direct involvement or commitment, observers worry that the conflict may simply continue under new terms. Tiffany Trump's father-in-law appointed as senior adviser to the White House Amid the negotiations, Tiffany Trump's father-in-law, Massad Boulous, was appointed as a senior adviser to the White House on Africa. He travelled across the region to meet with leaders and promote US business ties, especially in mining. The Trump administration is reportedly looking to re-establish American interests in Africa's critical mineral supply chain, where Chinese firms currently dominate. The DRC has begun revisiting mining tax laws to make the country more appealing to Western investment. The US has already committed substantial funding to infrastructure, including $560 million towards the Lobito Corridor, a rail project that connects the DRC's copper belt to an Angolan port, offering a vital trade route. 'I won't get a Nobel Peace Prize for this': Trump Even though some people doubt whether the treaty will really work, Trump used the moment to point out what he sees as his ignored efforts to bring peace around the world. 'I won't get a Nobel Peace Prize for this… but the people know, and that's all that matters to me!' he said on Truth Social, also referencing previous efforts to resolve conflicts between India and Pakistan, Serbia and Kosovo, and Egypt and Ethiopia, as well as the Abraham Accords in the Middle East.

Trump Step Back on Iran Pacifies Nervous Market
Trump Step Back on Iran Pacifies Nervous Market

Time of India

timean hour ago

  • Time of India

Trump Step Back on Iran Pacifies Nervous Market

India's equity indices rebounded 1.3% on Friday, recouping losses made in the last three sessions on a relief rally sparked by US President Donald Trump putting on hold a plan that may have led to American involvement in the Israel-Iran conflict. The rebound helped the Sensex and Nifty erase all recent losses and notch up gains for the week. The Nifty closed above a key level at 25,112, up 1.3% or 319 points over Thursday's close. The BSE Sensex closed at 82,408, up 1.3% or 1,046 points. Both indices, which fell about 0.6% over the past three trading sessions, gained 1.6% for the week. 'In the past two to three days, there hasn't been any significant escalation in the Iran-Israel conflict that could choke global trade,' said Siddarth Bhamre, head of institutional research at Asit C Mehta Intermediates. 'Receding concerns prompted some buying interest in the markets.' Elsewhere in Asia, South Korea gained 1.5% while Hong Kong and Taiwan rose 1.3% and 0.2%, respectively. Japan ended 0.2% lower after the country's core inflation hit a two-year high, boosting the chance of interest rate increases. China declined 0.1%. Trump said he will decide on US participation in the Iran-Israel conflict in two weeks. This was seen as the US President taking a step back from recent remarks that indicated the US was likely to take military action against Iran. It came as a relief to markets that were nervous about the likelihood of a wider conflict. Back home, the Volatility Index ( VIX )—the market's fear gauge—fell 4.1% to 13.67 on Friday, indicating traders expect lower risks in the near term. All sectoral indices closed higher on Friday. The Nifty Realty gained 2.1%, and the PSU Bank Index rose 1.6%. The Bank Nifty moved 1.2% higher while private bank, auto and metal indices advanced over 1% each. 'Given that the benchmark was closing lower in the past three sessions and the fall in the broader market yesterday, a rebound was likely, which pushed the market higher,' said Vikas Jain, head of research at Reliance Securities. The benchmark Nifty is holding at the support level of 24,700 and is expected to test 25,200 in the next few weeks. The Nifty Mid-cap 150 and the Small-cap 250 indices rose 1.3% and 0.6%, respectively. In the past week, the mid-cap index shed 0.7% while the small-cap index fell 1.7%. Of the 4,094 shares traded on the BSE, 2,463 advanced, while 1,484 declined. Foreign portfolio investors (FPIs) bought shares worth a net Rs 7,941 crore on Friday. This included purchases by global passive funds on account of FTSE rebalancing and a Sensex rejig. Their domestic counterparts sold shares worth Rs 3,050 crore. In June, overseas investors bought shares worth Rs 7,060 crore. 'The markets have not delivered any meaningful gains so far this year, so index-based returns are expected to be sluggish. However, it is seen to be a stock-pickers market,' said Bhamre of Asit C Mehta. 'Investors should be wary of buying, and not chase stock at any value.' Bhamre said timewise consolidations are expected to continue, with bouts of buying and selling activity and Nifty is facing a hurdle at 25,100-25,200 levels. Even if it crosses this threshold, a big surge is not likely as gains might come off amid ongoing geopolitical tensions.

ICICI sought to acquire HDFC, reveals chairman Deepak Parekh
ICICI sought to acquire HDFC, reveals chairman Deepak Parekh

Time of India

time3 hours ago

  • Time of India

ICICI sought to acquire HDFC, reveals chairman Deepak Parekh

Former HDFC chairman Deepak Parekh and ICICI Bank chief Chanda Kochhar MUMBAI: Former HDFC chairman Deepak Parekh, in a candid disclosure, said that then ICICI Bank chief Chanda Kochhar had proposed a merger between the two lenders - well before HDFC's eventual reverse merger with its banking subsidiary. During an interaction with Kochhar on her channel, Parekh said: "I remember you talking to me once. I remember it very clearly. It's never been talked about in public, but I'm willing to share it now. You said that ICICI started HDFC. 'Why don't you come back home?' That was your offer." Parekh said he declined the offer, saying "it won't be fair" or "proper with our name and the bank and all". Parekh said the eventual merger with HDFC Bank, completed in July 2023, was driven mainly by regulatory pressure. RBI had classified NBFCs like HDFC, then holding assets over Rs 5 lakh crore, as systemically important, breaching the Rs 50,000-crore threshold. "RBI supported us and they pushed us into it to some extent and they helped us," he said. However, he added that there were "no concessions, no relief, no time, nothing". Describing the day the merger concluded, Parekh called it "a sad day and a happy day". He said, "It's good for the institution. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 180k traders turn to IC Markets for optimum CFD trading conditions IC Markets Sign Up Undo It's good for the country to have large banks. Look at how large Chinese banks are. We have to be bigger, larger in India." Parekh believes that Indian banks must grow through acquisitions to become stronger in future. On broader economic concerns, Parekh cited persistent uncertainty in supply chains, trade policy, and export conditions as top CEO concerns. Calling insurance the "least understood product", Parekh criticised "mis-selling by banks" driven by high upfront commissions. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store