Latest news with #foreignownership
Daily Mail
3 days ago
- Business
- Daily Mail
The rare bipartisan movement to block China's under-the-radar land grab amid growing fears about the creeping adversary on the hunt
A coalition of senators from both sides of the aisle is sounding the alarm about what they see as a quiet but dangerous trend across America's heartland: Acres of farmland falling into foreign hands, with China leading the seizures. The urgency behind their concern is driven by a stark trendline: Chinese agricultural investments in the U.S. have skyrocketed tenfold over the past decade, according to Iowa Sen. Joni Ernst, who has sponsored the 'Farmland Act.' The legislation is designed to stymie Chinese influence over U.S. land by giving the federal government more oversight of agricultural property owned by foreign countries. It's an effort with one overarching goal in mind: Curtail the creeping ambitions of one of our top adversaries. Ernst explicitly calls out China, which 'in particular has increased agricultural investments tenfold over the past decade.' Ernst told the Daily Mail that 'limiting the opportunities for foreign entities, especially adversaries like China' to purchase farmland is critically important. China 'will come in and purchase that land, so that we're not able to put it into production, and in turn they are,' Ernst noted. There is bipartisan consensus that China is a threat to the United States in areas such as intellectual property and global competitiveness, but Democrats and Republicans typically disagree on the best ways to deal with the adversarial nation. Republicans are raising concerns about insufficient oversight in government programs that fund research and technological innovation, particularly when foreign nationals are leading projects financed by U.S. taxpayers. Democrats, on the other hand, are blaming the Trump administration for cutting funding to research initiatives they say are critical to maintaining America's competitiveness in emerging technologies. Despite the disagreements, Ernst has been able to draft two Democrats to support the bill: Elissa Slotkin of Michigan and John Fetterman of Pennsylvania. Republicans Rick Scott of Florid a and Ted Budd of North Carolina have also signed on, giving it wide geographical support. Opposition to the Farmland Act centers on concerns about expanded federal oversight and regulatory burdens for foreign investors in acquiring U.S. agricultural property. Legitimate investments could see their transactions disrupted or delayed, these critics argue. Still, many states have already taken steps to limit foreign purchases of their land, including Ernst's Iowa. 'But, if you go back and look across the United States at what we already have sold to foreign entities, if you put all those acres together, its going to be larger than the state of Tennessee,' Ernst told the Daily Mail. In Budd's state of North Carolina, China owns nearly 50,000 acres of farmland, some of it near critical sites such as us military bases. Scott's home state of Florida is home to nearly 13,000 acres of farmland owned by China. Ernst's bill isn't the only one in the works that aims to stop China's efforts to buy up American agricultural land. Missouri Senator Josh Hawley has introduced the Protecting Our Farms and Homes from China Act, and Representative Mary Miller introduced a House compliment to his bill this week. Twelve Republican members have co-sponsored Miller's bill in the House. The Trump administration claimed back in February that overall, China owns over 350,000 acres in 27 states. Foreign entities and individuals own roughly 43 million acres of U.S. agricultural land, nearly 2 percent of all U.S. land, according to government data. A Government Accountability Office report from 2024 determined that foreign acquisitions of U.S. land are difficult to identify. It also determined that a prior report from 2021 - claiming that foreign entities owned 40 million acres - was inaccurate. Trump's Agriculture Secretary Brooke Rollins announced recently that the Department of Agriculture (USDA) would not allow 'Chinese nationals' or other foreign adversaries to purchase farmland in the United States. 'American agriculture is not just about feeding our families but about protecting our nation and standing up to foreign adversaries who are buying our farmland, stealing our research and creating dangerous vulnerabilities in the very systems that sustain us,' Rollins said.
News24
4 days ago
- Business
- News24
FlySafair foreign ownership dispute lands in court as deadline looms
Safair launched a legal challenge against the sanction that was imposed on it because of its foreign ownership structure. Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once. Start your FREE trial now Show Comments ()
Zawya
5 days ago
- Business
- Zawya
Saudi Arabia publishes new law allowing foreigners to own property
RIYADH — Saudi Arabia has officially published the full details of its new law regulating real estate ownership by non-Saudis, following Cabinet approval earlier this month. The comprehensive law, released in the official gazette Umm Al-Qura on Friday, will take effect 180 days from publication and marks a major overhaul in the Kingdom's approach to foreign ownership of property. The new system grants non-Saudis — including individuals, companies, and non-profit entities — the right to own property or obtain other real rights over real estate within designated geographic zones to be determined by the Cabinet. These rights include usufruct (beneficial use), leaseholds, and other real estate interests, but will be subject to a range of controls and restrictions based on location, property type, and usage. The law preserves all real estate rights that were legally established for non-Saudis prior to the new regulation taking effect. However, it clearly states that ownership remains prohibited in certain locations and regions, notably in Makkah and Madinah, except under conditions for individual Muslim owners. A key provision in the law requires the Council of Ministers — upon a proposal by the Real Estate General Authority and with the approval of the Council of Economic and Development Affairs — to define the allowable zones for foreign ownership and set upper limits on ownership percentages and durations for usufruct rights. Foreign individuals legally residing in Saudi Arabia may own one residential property outside restricted areas for personal housing purposes. This does not apply to Makkah and Madinah. The regulation also includes provisions for corporate ownership. Non-listed companies with foreign shareholders, as well as investment funds and licensed special-purpose entities, will be permitted to acquire real estate throughout the Kingdom, including in Makkah and Madinah, provided the ownership supports operational needs or employee housing. Listed companies and investment vehicles may also acquire property in line with Saudi financial market regulations. Diplomatic missions and international organizations can also own premises for official use and residence of their representatives, subject to Foreign Ministry approval and reciprocity conditions. To ensure compliance, non-Saudi entities must register with the competent authority before acquiring property. Ownership or real rights become valid only after formal registration in the national real estate registry. The law introduces a real estate transfer fee of up to 5% for transactions involving non-Saudis, and outlines a penalty framework for violations. Sanctions include fines up to SR10 million and, in severe cases such as falsified information, the forced sale of the property with proceeds remitted to the state after deductions. A dedicated committee under the Real Estate General Authority will be formed to investigate violations and impose penalties. Decisions of this committee can be appealed to the administrative courts within 60 days. Additionally, the law repeals a prior rule that prohibited GCC citizens from owning property in Makkah and Madinah, effectively standardizing rules for all non-Saudi entities under a single framework. The executive regulations, which will detail implementation mechanisms and specify geographic boundaries and conditions, are expected to be issued within six months. The new law replaces the previous foreign property ownership legislation issued under Royal Decree No. M/15 in 2000. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
The Guardian
22-07-2025
- Business
- The Guardian
Telegraph sale poised to go ahead after Lords foreign ownership vote
The sale of the Telegraph looks set to finally go through after government legislation to allow foreign states to own up to 15% in British newspapers survived a potentially fatal vote in the House of Lords. Gerry Cardinale's RedBird Capital is leading a consortium looking to buy the Telegraph for £500m, in a deal that would result in the United Arab Emirates retaining a stake of 15%. Ministers have been attempting to push through legislation to allow foreign states to own passive stakes of up to 15% in British newspapers, after the previous Conservative administration proposed a law in March last year that set the limit at zero. That cap meant the joint venture RedBird IMI, which bought the Telegraph Media Group in November 2023, would have to sell up as it is 75% funded by International Media Investments (IMI) – controlled by Sheikh Mansour bin Zayed Al Nahyan, the vice-president of the United Arab Emirates. The US private equity company RedBird Capital, which contributed the other 25% of funding, has tabled a deal to buy the Telegraph under which IMI would retain a minority stake of up to 15%, although RedBird has said it can fully fund a deal in its own right. The government's foreign ownership bill would allow this purchase to go ahead but the plan was put at risk on Tuesday after Liberal Democrat peers attempted to block it via a rare 'fatal motion', the strongest opposition that can be taken in the House of Lords, which would force ministers to reintroduce the legislation. After an almost three-hour debate, peers voted to reject the fatal motion 267 to 155, meaning the 15% cap will pass into law. However, another statutory instrument will need to be introduced after the parliamentary recess in September to add a rule that will stop foreign investors from buying multiple 15% stakes in British newspapers. No final deal for the Telegraph has yet been signed, and a takeover will still face regulatory hurdles, including a public interest test that will be triggered by the culture secretary, Lisa Nandy. It will also be subject to a full investigation by the Competition and Markets Authority. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion However, the government's win in the House of Lords is likely to prompt RedBird Capital to publicly announce its formal bid in the coming weeks. RedBird Capital – which holds various investments including a stake in the parent company of Liverpool football club and is seeking to jointly acquire the TV and film business Paramount – has said that if the deal goes ahead it would become the sole controlling investor of the Telegraph. It is also set to bring on British partners with small stakes, including the owner of the Daily Mail and Len Blavatnik, the owner of Warner Music and the sports and entertainment streaming service Dazn.
Bloomberg
22-07-2025
- Business
- Bloomberg
Malaysia Seeks 20% Trump Tariff But Resists Some US Demands
Malaysia's government is seeking to lower US tariffs threatened by President Donald Trump to about 20%, but is reluctant to meet certain demands around electric vehicles and foreign ownership, according to people familiar with the matter. Prime Minister Anwar Ibrahim's negotiators are seeking a tariff lower than the 25% that takes effect Aug. 1 — aiming for something closer to levels for regional neighbors Indonesia and Vietnam, said the people, who asked not to be identified given the negotiations are ongoing.
