Tuesday, February 19, 2019 | ePaper

China's ZTE vows to fight US supplier ban

  • Print
AFP, Beijing :
Chinese telecom giant ZTE vowed on Friday to fight back against a US order banning it from purchasing and using US technology for seven years, a move that has angered Beijing.
The decision announced by Washington this week has clouded prospects for the telecom and phone maker, which depends on US technology such as chips and the Android operating system for its mobile phones.
The tough sanctions come as the battle over technology takes centre stage in a US spat with China that has fanned fears of a trade war.
Washington has taken particular grievance with Beijing's "Made in China 2025" policy to harbour national champions in technology fields the US sees as critical to its future. In Beijing the action against ZTE will likely heighten fears about the reliance on US technology for critical industries.
The order "seriously endangers the survival of ZTE", the company said in a statement Friday, adding "we cannot accept it!"
The firm said it would "not give up its efforts to resolve the problems through communication and dialogue, but would also resolutely protect its legitimate rights and interests through all legally permitted methods".
The company has one or two months of stored component supplies before the ban will start to impact its business, investment bank CICC estimated in a research report cited by Beijing Business Today. ZTE has halted trading of its shares in Hong Kong and Shenzhen since Tuesday.
Washington's control of the company's fate-with roughly 80,000 employees mostly based in southern China-has stirred ire and angst in China, where officials prize stability.
"China will pay close attention to the development of the situation and stands ready to take the necessary measures to safeguard the legitimate rights and interests of Chinese enterprises," commerce ministry spokesman Gao Feng said Thursday.
"The US's actions are ostensibly aimed at China, but they will ultimately hurt the US itself. It will not only lose tens of thousands of jobs but also affect tonnes of related US companies," Gao said.

More News For this Category

Nigeria counts cost of postponed presidential poll

AFP, Lagos :Nigerians who were surprised when the country's presidential election was postponed Saturday might suffer a second shock when they learn the cost, some economists and business leaders

US millennials a popular but elusive target for brands

AFP, New York :American millennials - the generation of people aged 17-35 - are a popular target for advertisers and brands, but companies risk missing out by approaching them

Md. Abdul Halim Chowdhury, Managing Director of Pubali Bank Limited, presiding over its '1st Managers' Conference-2019 of Rangpur Region at a local hotel in Rangpur recently. Mohammad Ali, DMD, Md. Kamruzzaman, DGM and all managers of the region were also present.

Md. Abdul Halim Chowdhury, Managing Director of Pubali Bank Limited, presiding over its '1st Managers' Conference-2019 of Rangpur Region at a local hotel in Rangpur recently. Mohammad Ali, DMD, Md. Kamruzzaman, DGM and all managers of the region were also present.

.

Azam J Chowdhury, Chairman of Prime Bank Limited, attended with the participants of 'Managers Conference-2019 at Hotel Intercontinental in the city on Saturday. Mafiz Ahmed Bhuiyan, Imran Khan, Vice Chairmen, Md. Shirajul Islam Mollah, EC Chairman, Shamsuddin Ahmad, Audit Committee Chairman, Dr. GM Khurshid Alam, Risk Management Committee Chairman, Md. Shahadat Hossain, Waheed Murad Jamil, Directors and Rahel Ahmed, CEO of the Bank were also present.

Azam J Chowdhury, Chairman of Prime Bank Limited, attended with the participants of 'Managers Conference-2019 at Hotel Intercontinental in the city on Saturday. Mafiz Ahmed Bhuiyan, Imran Khan, Vice Chairmen, Md. Shirajul Islam Mollah, EC Chairman, Shamsuddin Ahmad, Audit Committee Chairman, Dr. GM Khurshid Alam, Risk Management Committee Chairman, Md. Shahadat Hossain, Waheed Murad Jamil, Directors and Rahel Ahmed, CEO of the Bank were also present.

.

Amazon reportedly pays no tax in 2018

Xinhua, Washington :A recent report showed that U.S. e-commerce giant Amazon did not pay federal income taxes in 2018.Published Wednesday by the Institute on Taxation and Economic Policy, the

Govt unleashes massive works thru e procurement

Staff Reporter :Planning Minister MA Mannan on Monday said that the government has unleashed a lot of public works and attained massive successes through e-procurement which is a positive

GP fails to comply of BTRC's call drop benchmark

Business Desk :Bangladesh's leading mobile phone operator Grameenphone has failed to comply with the benchmark set up by the telecom regulator over call drop.Quality of Service (QoS) drive test

Mohammad Ali, DMD of Islami Bank Bangladesh Limited and Md. Miarul Haque, Country Manager of DHL Worldwide Express (BD) Pvt. Limited, exchanging an agreement signing document at the Bank's head office in the city on Monday. Md. Mahbub ul Alam, CEO, Abu Reza Md. Yeahia, JQM Habibullah FCS, Taher Ahmed Chowdhury, Muhammad Qaisar Ali and Hasne Alam, DMDs of the Bank, Sheikh Shahiduzzaman, Manager (Sales) and Al Fattah Md. Azim, Manager (Accounts) of DHL were also present.

Mohammad Ali, DMD of Islami Bank Bangladesh Limited and Md. Miarul Haque, Country Manager of DHL Worldwide Express (BD) Pvt. Limited, exchanging an agreement signing document at the Bank's head office in the city on Monday. Md. Mahbub ul Alam, CEO, Abu Reza Md. Yeahia, JQM Habibullah FCS, Taher Ahmed Chowdhury, Muhammad Qaisar Ali and Hasne Alam, DMDs of the Bank, Sheikh Shahiduzzaman, Manager (Sales) and Al Fattah Md. Azim, Manager (Accounts) of DHL were also present.

.

Md. Mehmood Husain, CEO of NRB Bank Limited, inaugurating a new ATM Booth at city's Gulshan area on Sunday. Md. Khurshed Alam, DMD, Imran Ahmed, Chief Operating Officer and Mohammed Golam Nakib, head of branches of the Bank among others were also present.

Md. Mehmood Husain, CEO of NRB Bank Limited, inaugurating a new ATM Booth at city's Gulshan area on Sunday. Md. Khurshed Alam, DMD, Imran Ahmed, Chief Operating Officer and Mohammed Golam Nakib, head of branches of the Bank among others were also present.

.

Industrial zone for manufacturing battery demanded

Business Desk :Battery Manufacturer's and Exporter's Association on Monday demanded an industrial zone for producing environment friendly battery.The association made the demand while meeting with Industries Minister Nurul Majid