ZeroFox Physical Security Intelligence Daily Brief - June 17, 2024

ZeroFox Physical Security Intelligence Daily Brief - June 17, 2024

ZeroFox physical security experts collect, curate, and analyze information derived from open and proprietary sources for comprehensive context of the circumstances surrounding global events. Here is today’s daily roundup of major developments.

Brief Highlights

• China Introduces New Fair-Competition Rules to Improve Market Access for Private and Foreign Businesses
• Rescue Operations Underway After Train Crash in West Bengal (India)
• U.S. Naval Forces Rescue Crew of Greek-Owned Carrier Attacked in the Red Sea

China Introduces New Fair-Competition Rules to Improve Market Access for Private and Foreign Businesses

China’s State Council unveiled a revised version of China’s fair-competition regulations to curb monopolies and widen market access for private and foreign businesses. The updated version will take effect on August 1, 2024, and it stipulates that there should be no restrictions to market entry or exit, nor on the free flow of goods or business operations. However, exemptions could be made in specific situations that defend national security and development, innovation and energy efficiency. Under the new rules, local governments would be given the authority to conduct self-reviews and make amendments under the new regulations. The new regulations are part of the fair-competition review system, which was first introduced in 2016 and faced many challenges including discriminatory market practices for private enterprises, local protectionism and restrictions on certain industries. The new rules came against the backdrop of China’s slowing economic growth and intensifying economic tension with the West while private and foreign investors have long been voicing concerns over unfair competition from state-owned enterprises. However, there have been no updates on how to remove market access barriers in a so-called negative list that restricts foreign and private investment in China, therefore its impact on shoring up private and foreign investors’ confidence may be limited.

Rescue Operations Underway After Train Crash in West Bengal (India)

The Kanchenjunga Express—a passenger train running between Kolkata and Silchar (Assam)—was hit by a freight train near Siliguri (West Bengal) this morning local time. At the time of writing, 15 passengers were reported to have died in the accident and 60 passengers injured, as rescue operations continue. The rescue teams are avoiding the use of gas cutters so as to not endanger trapped passengers, which has reduced the speed of operations; officials stated that rainfall is further hindering the process. The government has announced an amount of INR 200,000 (approx. USD 2,400) for the next of kin of each deceased and INR 50,000 (approx. USD 600) for each injured person.

U.S. Naval Forces Rescue Crew of Greek-Owned Carrier Attacked in the Red Sea

The U.S. Naval Forces Central Command (NAVCENT) has rescued the crew of the Greek-owned, bulk carrier M/V Tutor attacked by Yemen's Iran-aligned Houthis in the Red Sea. The vessel Tutor lost engine power and began taking on water after being struck by a Houthi boat followed by an airborne missile.