US equipment manufacturer Flextronics, which seized part of Huawei’s property in China, is likely to be put on China’s unreliable entity list because the practice violated domestic laws, Chinese analysts told the Global Times. Flextronics privately detained materials and equipment belonging to Huawei worth more than RMB 700 million ($102 million) for more than one […]
Category: Company profile
Huaxin Securities, the Chinese partner of Morgan Stanley’s securities joint venture, said it is selling a 2% stake for at least RMB 376 million ($55 million) and any potential buyer will have until July 29 to submit a bid, said Caixin. Shanghai International Trust, JPMorgan’s local partner, said on Monday that it will cede control […]
Google has suspended all business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing after the US issued a ban on products made by the Chinese telecoms company, said Reuters. The move could deter Huawei’s smartphone business outside China as the tech giant will […]
Chinese e-commerce giant Alibaba Group Holding Ltd beat fourth-quarter revenue forecasts on Wednesday, thanks to growth in its core business and its diversification into cloud computing and other services, said Reuters. Revenue from the company’s cloud computing business rose 76% in the fourth quarter, Alibaba reported. Cloud computing is still a relatively small part of Alibaba’s […]
The US Commerce Department said on Wednesday that it is adding Huawei Technologies Co Ltd and 70 affiliates to its so-called “Entity List,” a move that bans the telecom giant from buying parts and components from US companies without US government approval, said Reuters. US officials said the decision would also make it difficult if not […]