Tag: probing

02
Oct
2020
Posted in technology

Canada Probing Allegations Azeri Forces Are Using Canadian Technology in Nagorno-Karabakh | World News

OTTAWA (Reuters) – Canada is probing allegations that Azeri forces involved in fighting with Armenia are using Canadian drone technology that was initially exported to Turkey, Prime Minister Justin Trudeau said on Friday.

Project Ploughshares, a Canadian arms control group, says video of air strikes released by the Azeri air force indicates the drones had been equipped with imaging and targeting systems made by L3Harris Wescam, the Canada-based unit of L3Harris Technologies

.

The Globe and Mail newspaper said the firm had received permission earlier this year to ship seven imaging and targeting systems to Turkish drone maker Baykar. Turkey is a key ally of Azerbaijan, whose forces have been fighting for a week over the disputed enclave of Nagorno-Karabakh.

“In regards to the Canadian military equipment that may have been used … the minister of foreign affairs has launched an investigation into what exactly happened,” Trudeau told reporters when asked about the matter.

“It is extremely important that the terms of Canada’s expectations of non-violation of human rights (are) always respected,” said Trudeau, adding that he was extremely concerned by the fighting.

Canada’s Export and Import Permits Act forbids the sale of weapons if they could be used to commit serious violations of international humanitarian or human rights laws.

Officials at L3harris Wescam were not immediately available for comment.

(Reporting by David Ljunggren; Editing by Daniel Wallis)

Copyright 2020 Thomson Reuters.

Source Article

29
Sep
2020
Posted in technology

CFIUS probing past Chinese investment

The letters, which began landing in dozens of companies’ email inboxes in the spring, reflect the broadly held view among U.S. officials and lawmakers that the United States failed in recent years to adequately screen investments pouring in from China and other countries — particularly low-profile venture-capital investments that didn’t make the headlines. The 2018 Foreign Investment Risk Review Modernization Act, or FIRRMA, aimed to address that by boosting CFIUS’s funding and powers.

Tech executives say the inquiries are part of a growing chill in U.S.-China relations that has made Silicon Valley companies more cautious about accepting foreign investments and caused some China-backed venture-capital funds to curb their activity.

The decoupling can be seen in data showing that Chinese venture-capital investment in the United States dropped to a six-year low in the first half of 2020, to $800 million, according to research provider Rhodium Group. VC investment by U.S. firms in China hit its lowest level in four years, at $1.3 billion.

Michael Borrus, the founding general partner of XSeed Capital, said CFIUS scrutiny is causing investors and companies to think twice about deals.

“We’ve had Chinese VCs or Chinese families who have been interested in putting money in” to some companies where XSeed Capital is a shareholder, Borrus said. “In the current environment, we’ve decided it’s too complicated.”

Start-ups decide which investments to accept, but existing shareholders often have a say in the matter, Borrus said. “You have discussions with companies, ‘You need to think about this very seriously, it could open you up to CFIUS investigations … if you have alternatives, you should consider them,’ ” he said. “They usually see the wisdom.”

In addition to boosting CFIUS’s work, the government is also sending national-security officials to visit venture capitalists and other tech leaders in Silicon Valley to