US firms can sell technology to Huawei, says Trump

Agencies
June 29, 2019

Washington, Jun 29: In a much-needed respite to Huawei, US President Donald Trump on Saturday said US firms could start selling technology to the Chinese telecommunications equipment giant and its sub-brand HONOR as long as the sales did not involve equipment that threaten the national security.

According to the South China Morning Post, Trump, said the decision on whether to take Huawei off the Commerce Department's entities list would be left to a later date, adding he will have a meeting on the same subject next week.

"We are leaving Huawei towards the end. We are seeing what goes with the trade agreement," Trump said during a press conference in Osaka following the Group of 20 summit, suggesting that fully lifting the ban on Huawei would rest on a deal to end the trade war.

Speaking at a press conference, Trump reportedly said China and the US can be "strategic partners".

Earlier, Trump and Chinese President Xi Jinping agreed to resume trade talks on the sidelines of the summit and put a hold on new American tariffs on Chinese goods.

Trump agreed with Jinping that the US will not implement new tariffs on $300 billion of Chinese imports "at least for the time being".

Trump said China had agreed to buy a "tremendous" amount of US goods to reduce the trade imbalance. The US will give China a list of the goods it wants them to buy, according to the report.

On May 15, Trump had blacklisted Huawei with a national security order; the US had publicly asked its allies to steer clear of using Huawei products over concerns that the equipment could be used by the Chinese government to obtain private information.

Huawei responded by filing a motion in a US court challenging the constitutionality of the 2019 National Defense Authorization Act, 2019.

The Chinese tech giant also asked for an end to US' state-sanctioned campaign against it, arguing that it would "not deliver cybersecurity".

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News Network
March 20,2020

New Delhi, Mar 20: The coronavirus pandemic will leave behind a global recession with small businesses, self-employed and daily wagers taking the worst hit, Mahindra Group Chairman Anand Mahindra said on thursday.

"The virus will eventually be conquered, but it will have left behind a global recession. The costs of that are incalculably high at this time. The most fearsome toll will be on small businesses, the self-employed & those whose lives depend on meagre daily wages," Mahindra said in a tweet.

Apart from the toll on lives, the legacy of Covid-19 may well be deaths due to stress, loss of livelihoods, a rise in homelessness and in extreme situations, civil unrest, he added.

"The only global experience that has lessons for us in the current situation is the last world war. In the aftermath of WW2, the US came up with the Marshall plan to revive Europe, effectively a giant fiscal pump-priming," Mahindra said.

In the US, the government dramatically dismantled regulations and opened up the economy to trade and these actions led to a boom-cycle that stretched to 1975, he added.

"This time, there will be no victors, only the vanquished. So every country will have to create its own post ‘virus war” marshall plan & take care of those in society who are hit the hardest. Perhaps we too can build the foundations of a sustained global growth cycle," Mahindra said.

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News Network
March 2,2020

New Delhi, Mar 2: The Supreme Court on Monday dismissed a curative petition filed by convict Pawan Kumar Gupta who was sentenced to death in the 2012 Nirbhaya gang rape and murder case.

A five-judge bench headed by Justice N V Ramana said that no case is made out for re-examining the conviction and the punishment of the convict.

Other members of the bench were justices Arun Mishra, R F Nariman, R Banumathi and Ashok Bhushan.

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News Network
March 30,2020

Mar 30: Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday.

Schaefer, 54, was found dead near a railway track on Saturday. The Wiesbaden prosecution's office said they believe he died by suicide.

"We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded statement.

Hesse is home to Germany's financial capital Frankfurt, where major lenders like Deutsche Bank and Commerzbank have their headquarters. The European Central Bank is also located in Frankfurt.

A visibly shaken Bouffier recalled that Schaefer, who was Hesse's finance chief for 10 years, had been working "day and night" to help companies and workers deal with the economic impact of the pandemic.

"Today we have to assume that he was deeply worried," said Bouffier, a close ally of Chancellor Angela Merkel.

"It's precisely during this difficult time that we would have needed someone like him," he added.

Popular and well-respected, Schaefer had long been touted as a possible successor to Bouffier.

Like Bouffier, Schaefer belonged to Merkel's centre-right CDU party.

He leaves behind a wife and two children.

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