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Last updated on April 20, 2014 at 8:28 EDT

Latest Dubai Ports World controversy Stories

2006-07-26 15:33:30

WASHINGTON (Reuters) - The U.S. Senate on Wednesday voted to tighten rules for approving foreign takeovers of American companies, prompted by an uproar over the administration's backing of an Arab company's acquisition of the operations of several major U.S. ports. But a fight was brewing with the House of Representatives, which was expected to pass a different version of the legislation later on Wednesday. The Senate bill, passed by voice vote and sponsored by Alabama Republican...

2006-07-12 16:56:24

By Susan Cornwell WASHINGTON (Reuters) - A jurisdictional battle broke out in the U.S. House of Representatives on Wednesday over which government department -- and by extension, which lawmakers -- should oversee decisions on foreign investment. Business lobbyists said the argument could delay progress on reforms to the foreign takeover process that lawmakers began drafting after the furor over Dubai Ports World gaining control of the management of several U.S. port terminals. The...

2006-07-07 18:24:14

By Susan Cornwell WASHINGTON (Reuters) - Legislation to tighten rules on foreign investment in the United States has slowed in Congress, facing questions from lawmakers and a White House that is cool to the idea. Another hearing was scheduled for next week on the House version of the legislation, which will delay a bipartisan bill that sponsors earlier this year had predicted would be on the floor of that chamber in June. A furor early this year over Dubai Ports World taking...

2006-04-11 19:19:31

By Susan Cornwell WASHINGTON (Reuters) - A U.S. lawmaker on Tuesday fumed that the Bush administration refused to divulge anything about a security review it is conducting of a Dubai-owned company that is planning to take over several plants in the U.S. that make equipment for defense contractors. The Committee on Foreign Investment in the United States (CFIUS), an inter-agency panel led by the Treasury Department, is reviewing the $1.24 billion takeover of Doncasters, a British...

2006-04-06 17:56:36

By Susan Cornwell WASHINGTON (Reuters) - One of the leading U.S. congressional opponents of Dubai Ports World's recent purchase of American port facilities said on Thursday he had no objections to France's Alcatel acquiring Lucent Technologies Inc.. Alcatel is not state-owned, unlike Dubai Ports World which is owned by Dubai in the United Arab Emirates, said Sen. Charles Schumer in explaining the why he backed the $14.1 billion deal to take over New Jersey-based Lucent. Last month,...

2006-03-30 19:10:40

By Susan Cornwell WASHINGTON (Reuters) - The U.S. Senate Banking Committee voted unanimously on Thursday to tighten rules on foreign takeovers of American companies but watered down some provisions amid pressure from Wall Street, the Bush administration and U.S. allies. Trying to steer a middle path between national security and maintaining foreign investment, the committee's bill would require the U.S. government to spend an extra 45 days examining deals with state-owned companies...

2006-03-27 19:59:34

By John Crawley WASHINGTON (Reuters) - The White House on Monday withdrew the nomination of a former Dubai Ports World executive to direct U.S. maritime affairs after his appointment was blocked in the Senate during a political storm over port security. David Sanborn requested the Bush administration withdraw his name from consideration, according to a copy of a letter he sent to U.S. President George W. Bush. "While I believe my background makes me one of the most qualified people...

2006-03-15 19:14:24

By Susan Cornwell and Richard Cowan WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday refused to drop legislative language barring a state-owned Arab company, Dubai Ports World, from managing American ports, even as the company released more details of its own pledge to unwind the deal. On a vote of 377-38, the House said it wanted to keep the wording blocking the controversial ports deal in an unrelated bill funding the Iraq war. A vote on the entire bill,...

2006-03-15 18:42:20

WASHINGTON (Reuters) - The U.S. House of Representatives refused on Wednesday to strike legislative language barring a state-owned Arab company from managing American ports from an unrelated bill funding the Iraq war. On a vote of 377-38, the House preserved the language unwinding the controversial ports deal. A vote on the entire bill, including the ports language, was not expected until Thursday. DP World, which is owned by Dubai of the United Arab Emirates, last week completed...

2006-03-15 14:13:26

By Susan Cornwell and Richard Cowan WASHINGTON (Reuters) - The state-owned Arab company whose purchase of U.S. port terminal assets unleashed a political firestorm expects to sell them within four to six months to a U.S. buyer, a company statement said on Wednesday. But U.S. House of Representatives lawmakers forged ahead with legislation to make sure the company, Dubai Ports World, sheds the U.S. assets as promised. The House on Wednesday was considering a provision to ban DP World...