Wednesday 26th June 2019

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    • Huawei signs deal with Russian telecoms firm to develop 5G huawei signed russia for 5g network

      Huawei has signed a deal with Russian telecoms firm MTS to develop 5G technology in Russia. The companies will develop next-generation 5G networks in Russia over the next year, reports said. The deal was agreed as China’s President Xi Jinping began a three-day visit to Russia. It comes as some Western countries, led by the US, have blocked the Chinese firm on concerns it poses a national security risk. The deal will see “the development of 5G technologies and the pilot launch of fifth generation networks in 2019 and 2020,” MTS said in a statement, according to AFP. The...

    • White paper: U.S. tariffs hurt both economies and the entire world

      China released a white paper titled “China’s Position on the China-U.S. Economic and Trade Consultations” on Sunday morning, regarding its stance on economic and trade talks with the U.S. The U.S. has been rebellious and dishonest in the China-U.S. trade talks, said the paper. “China has always adhered to the consultative position of equality, mutual benefit and good faith during the trade talks,” it added. The paper also noted China’s position which has been consistent and clear – that cooperation serves the interests of the two countries, that conflict can only hurt both, and that cooperation is the only...

    • Huawei fully prepared for U.S. ban, would be fine without chips from American suppliers

      Huawei’s CEO and founder Ren Zhengfei said on Saturday the company was fully prepared for the U.S. restriction, and that Huawei would be “fine” even if U.S. smartphone chipmaker would not sell chips to the company. Huawei’s chip arm HiSilicon said on Friday it has long been prepared for the scenario that it could be banned from purchasing U.S. chips and technology, the company had been vigorously investing in self-developed technologies, and is able to ensure a steady supply of most products to make sure Huawei will be able to continue serving its customers. U.S. President Donald Trump on...

    • Virtual cities: Designing the metropolises of the future Virtual-cities-Designing-the-metropolises-of-the-future

      Simulation software that can create accurate “digital twins” of entire cities is enabling planners, designers and engineers to improve their designs and measure the effect changes will have on the lives of citizens. Cities are hugely complex and dynamic creations. They live and breathe. Think about all the parts: millions of people, schools, offices, shops, parks, utilities, hospitals, homes and transport systems. Changing one aspect affects many others. Which is why planning is such a hard job. So imagine having a tool at your disposal that could answer questions such as “What will happen to pedestrian and traffic flow...

    • Ford forecasts Q4 $112 mln loss amid restructuring costs Ford-forecasts-Q4-$112-mln-loss-amid-restructuring-costs

      Ford said Wednesday it expects to post a loss of 112 million U.S. dollars in the fourth quarter of 2018 as the automaker implements a massive restructuring in the U.S. and Europe. The second biggest U.S. automaker said it will still post a profit after charges stemming from the drive to cut 11 billion U.S. dollars in costs. The firm sees adjusted profit of 30 cents a share during this period, according to the statement, less than the 32 cents anticipated by the markets. For the full year, Ford will post a net profit of 3.7 billion U.S. dollars,...

    • Canadian’s death sentence in China ‘horrific’, family says Canadian's-death-sentence-in-China-'horrific',-family-says

      The family of a Canadian man who has been sentenced to death in China say their “worst fears” have been realised. Robert Lloyd Schellenberg was given a 15-year jail term in November but, on Monday, a court said the sentence for drug smuggling was too lenient. The ruling is likely to worsen a diplomatic row between the countries. “It is a horrific, unfortunate, heartbreaking situation,” his aunt, Lauri Nelson-Jones, told the BBC via email. “It is our worst case fear confirmed,” she added. “It is rather unimaginable what he must be feeling and thinking.” Canadian Prime Minister Justin Trudeau...

    • What’s next for OPEC after Qatar withdraws What's-next-for-OPEC-after-Qatar-withdraws

      Qatar has officially left the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday, ending its 58 years of membership.  The decision to withdraw was announced on December 3 by Qatar’s energy minister Saad al-Kaabi, under the circumstances of Qatar being boycotted by former neighboring allies including Saudi Arabia for 18 months. Kaabi said the decision to withdraw was not “political”. With an oil production of approximately 600,000 barrels per day (bpd), Qatar accounts for only two percent of global oil reserves.  Kaabi said the country will “focus efforts” on gas production. With 858 trillion cubic feet of proved...

    • China, U.S. may meet in January for trade negotiation China-U.S-may-meet-in-January-for-trade-negotiation

      The delegations of China and the U.S. have stayed in close communication and have made plans to meet face-to-face in January, the spokesman of China’s Ministry of Commerce Gao Feng said on Thursday.  The remarks came after media reports stated that a U.S. trade team will travel to Beijing on January 7 for trade talks with China.  Gao confirmed the potential meeting without giving a specified date, saying the two sides are keeping close communication via telephone as well.  The upcoming meeting will be the first face-to-face negotiation since Chinese President Xi Jinping and his U.S. counterpart Donald Trump...

    • China continues to widen market access for foreign investors China-continues-to-widen-market-access-for-foreign-investors

      China will continue to widen market access for foreign investors next year, a commerce ministry official said on Saturday. The negative list for foreign investment is expected to be further shortened in 2019, said Tang Wenhong, head of foreign investment management department under the Ministry of Commerce (MOFCOM), during the MOFCOM work conference. The ministry will also push for the lifting of market access restrictions on foreign investment in sectors not on the negative list so as to level the playing field for Chinese companies and foreign enterprises alike, Tang added. China has adopted a foreign investment administration model...

    • High-speed railway starts operations in China’s coldest region High-speed-railway-starts-operations-in-China's-coldest-region

      A high-speed railway line officially went into operation on Tuesday, linking cities in China’s northernmost province of Heilongjiang, where the temperatures dip as low as minus 40 degrees Celsius. The 300-km line designed to allow trains running at 250 km per hour cuts the travel time between the provincial capital of Harbin and Mudanjiang, known as “snow city,” from four hours and 17 minutes to one hour and 28 minutes, according to the China Railway Harbin Group.  The line is China’s northernmost high-speed railway. Construction of the railway started in December 2014, as one of the key projects in...