WEDNESDAY, 20 NOV 2019

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2019_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

CBC Governor: Smaller Cyprus Banks Should Follow Bigger Ones in Reducing Their NPLs

Stephane Dujarric: UN Secretary-General is Clear in his Position on Cyprus

IMH LTD
GAP_Group_2019_468x60px

INTERNATIONAL

brought to you by CIPA

Huawei: China Warns of Investment Blow to UK Over 5G Ban

Huawei: China Warns of Investment Blow to UK Over 5G Ban

A top Chinese diplomat has warned that there could be "substantial" repercussions for her country's investment in the UK, if Huawei were to be banned from Britain's 5G network.

Chen Wen also told the BBC that Beijing had already "witnessed some conscious moves" in that direction.

Last week, the US put Huawei on a list that curbs the ability of US firms to trade with it.

US officials blamed national security concerns over Huawei technology.

The UK is still reviewing its 5G telecoms policy and may allow Huawei to supply "non-core" 5G components, such as antenna masts.

Huawei is considered a world-leading provider of next-generation 5G technology, which will provide superfast mobile internet connections.

Speaking to the BBC's World at One programme, Chen, who is the Chinese chargé d'affaires in London, said the UK economy would be damaged by the message any ban on Huawei sent out to international and Chinese companies.

"The message is not going to be very positive," she said.

"Is UK still open? Is UK still extending a welcoming arm to other Chinese investors?"

When asked how large the repercussions would be, the embassy official said: "It's hard to predict at the moment, but I think it's going to be quite substantial."

Chen insisted that her government would never force a Chinese firm operating abroad to provide information to its intelligence agencies.

She went on to claim that there was a bit of "hysteria" in the United States about the rise of Chinese influence and the UK should make decisions based on its own national interest.

She called Huawei's investment in the UK "a vote of confidence in the UK economy".

Earlier this week, Cambridge-based chip designer ARM told its staff they must halt "all active contracts, support entitlements, and any pending engagements” with Huawei to comply with a recent US trade clampdown.

ARM's designs form the basis of most mobile device processors worldwide.

On the same day, EE confirmed that its range of 5G phones would not include Huawei models.

It followed a decision from Google to bar the smartphone maker from some updates to the Android operating system.

 

MORE ON INTERNATIONAL

European Investment Bank to Phase Out Fossil Fuels Financing

The European Investment Bank has agreed to phase out its multibillion-euro financing for ...

Trump and Erdogan Redirected S-400 Settlements to the Ministry of Foreign Affairs

Despite the warm welcome and praise US President Donald Trump directed towards Turkey, ...

Facebook Has Shut Down 5.4 Billion Fake Accounts This Year

So far this year, Facebook has shut down 5.4 billion fake accounts on its main platform, ...

FROM AROUND GOLDNEWS

   

Cyprus' Draft Budgetary Plan is Compliant with the Stability and Growth Pact According to the Commission

The Draft Budgetary Plan of Cyprus along with the plans of Germany, Ireland, Greece, Lithuania, Luxembourg, Malta, the Netherlands and Austria are found to be ...
   

Stephane Dujarric: UN Secretary-General is Clear in his Position on Cyprus

UN Secretary-General António Guterres has been very clear in his position on Cyprus, his Spokesperson Stephane Dujarric has said, adding that Guterres ...
   

EY Cyprus Announces New Interactive Seminar on the VAT Aspect of Immovable Property

EY Cyprus announces a new interactive seminar on the VAT aspects of Immovable Property, titled “VAT on Property Awareness Drilling: Buildings – ...
   

Company Profile: Bank of Cyprus International Banking

Cyprus is established as a prestigious international financial centre, the ideal bridge between East and West, attracting international business and ...
   

CBC Governor: Smaller Cyprus Banks Should Follow Bigger Ones in Reducing Their NPLs

The smaller Cypriot banks should follow the path set by larger ones in reducing their stock of non-performing loans, Constantinos Herodotou, Governor of the ...
   

The Limassol Real Estate Market

The past few years Limassol has experienced development in an astonishing rate. The post-crisis era brought a series of governmental reforms for financial ...
   

The ENTERTAINER 2020

The ENTERTAINER Cyprus 2020 contains over 1,500 buy one get one free and discount offers at the best restaurants, attractions, golf courses, spas, salons, ...
   

Building Your Personal Brand through Social Media to Compliment Your Professional Goals

Hellas Direct presents The Limassol Star Speaker Show on Thursday, 12 December at the Carob Mill Complex in Limassol. The world is moving fast, creating loads ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Banking_07/10-28/11_300x250px
Harakis_19/11-09/01/2020_300x250px

IMH LTD