. Earth Science News .
TRADE WARS
German minister wants EU to curb foreign investors
by Staff Writers
Berlin (AFP) June 9, 2016


Germany's economy minister urged Thursday the EU to shield its key industries from foreign investors after Chinese appliance giant Midea made a controversial bid for German robotics group Kuka.

Sigmar Gabriel, who is also vice chancellor, has recently expressed his disapproval of Midea's takeover bid.

Writing a guest editorial for Friday's edition of business weekly WirtschaftsWoche, Gabriel said the EU should be protective of not only its security and defence sectors.

"We should discuss whether we should also take into consideration the industrial interests of the EU vis-a-vis those of investors, for sectors that are strategic for the future of the European economy," he wrote.

"The areas where the seeds of prosperity and value creation of tomorrow are sown have changed. We must take this change into account," argued the centre-left Social Democrat.

Chinese appliance giant Midea -- best known for its washing machines and air conditioners -- last month launched a takeover offer for Kuka.

It is seeking at least a 30 percent stake in a deal that values Kuka at 4.6 billion euros ($5.2 billion). Midea already holds a 13.5 percent stake in Kuka.

In what appeared to be a veiled attack at China, whose state-run enterprises have been going on a shopping spree in Europe, Gabriel wrote that "we have to ask ourselves seriously whether we want investors from third countries who move into our market economy using state resources."

"I am not ready to sacrifice jobs and companies on the altar of an open European market," he added.

During a press conference on Wednesday, Gabriel had criticised investments made by "companies from countries that have not even themselves opened their markets", in a direct attack at China.

Gabriel's comments come just ahead of Chancellor Angela Merkel's visit on Sunday to Beijing.

The German leader has so far not commented on the Kuka case.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TRADE WARS
Panama Canal lifts restrictions on ship depth
Panama City, Panama (AFP) June 9, 2016
Officials running the Panama Canal said Wednesday they have lifted restrictions on the depth of ships passing through that had been imposed since April because of low water levels caused by severe drought. The start of the tropical rainy season had brought the water back up, meaning the ships' maximum draft - the distance from the waterline to the bottom of the hull - was restored to the u ... read more


TRADE WARS
Hundreds left homeless after Sri Lanka depot blast

Sri Lanka races to defuse bombs after depot blast

Thousands flee Sri Lanka ammunition depot explosions

Sri Lankan monks hold prayers for buried landslide victims

TRADE WARS
Video game industry shoots for momentum at E3 show

Dutch architect unveils 3D printer to make 'endless' house

Glass now has smart potential

Laboratory breakthrough may lead to improved X-ray spectrometers

TRADE WARS
Rainfall following drought linked to historic nitrate levels in Midwest streams in 2013

Coral reefs fall victim to overfishing, pollution, ocean warming

Annual monsoon arrives in drought-hit India

Removal of dams in New England can help increase watershed resilience

TRADE WARS
What Satellites Show About Arctic Climate Change

Antarctic coastline images reveal 4 decades of ice loss to ocean

USGS assesses carbon potential of Alaska lands

Nepal seeks to drain giant glacial lake near Everest

TRADE WARS
Dartmouth team makes breakthrough toward fish-free aquaculture feed

Study links irrigation to inaccurate climate perception

EU proposes temporary approval of weedkiller glyphosate

Ecologists advise an increase in prescribed grassland burning to maintain ecosystem

TRADE WARS
Tropical Storm Colin: Florida declares state of emergency

Tropical Storm Colin: Florida declares state of emergency

Surging river water kills five hikers in Taiwan

Paris floods ease but alerts in France's north

TRADE WARS
Wildlife phone apps cause chaos in S.Africa's Kruger Park

Tributes for Chinese peacekeeper killed in UN Mali mission

Chinese UN peacekeeper, 3 civilians die in Mali attacks

Things will get bloody, Nigerian militant group says

TRADE WARS
Yale researchers map 6,000 years of urban settlements

Lucy had neighbors: A review of African fossils

Early farmers from across Europe were direct descendants of Aegeans

US obesity epidemic grows in all ages









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.