• News
  • Tech

Chinese company ZTE stops business operations after U.S. ban

Chinese company ZTE stops business operations after U.S. ban

ZTE said it's trying to negotiate with the USA government to get the recent bans overturned.

Last month, the BIS banned American companies from selling telecommunications equipment and services to ZTE after the firm allegedly did not live up to the terms of an agreement that had been worked out after it illegally shipped telecom equipment to Iran and North Korea. Now, in a new filing with the Hong Kong stock exchange, where ZTE shares are traded, the Chinese company revealed it has begun to feel the effects of these decisions, though it still has enough cash to fulfill its "commercial obligations".

It was communicating with all the USA federal government "in order to facilitate the adjustment or alteration of the Denial get from the US government and invent a favorable impact within the maturation of issues". Analysts say that tech firms such as Intel, Qualcomm, Google, among others, would also be impacted by the ban of ZTE, China's second biggest telecom equipment maker.

ZTE said that the U.S ban was unfair and threatens its survival. ZTE relies heavily on U.S. companies to supply as much as a third of its components. -China trade war. The Chinese government raised the issue of ZTE last week with a visiting USA trade delegation.

ZTE said on Sunday it had submitted a request to the U.S. Commerce Department for the suspension of the ban.

Chinese telecommunications company ZTE has stopped major business operations, it has revealed, as a outcome on the U.S. ban on selling components to the maker. The employee, who declined to be named, said business trips had been halted. Another said he hoped the Chinese government would help, saying he was confident President Xi Jinping would "sort out this trouble".

Last week, Chinese officials holding trade talks with U.S negotiators in Beijing asked the United States to hear ZTE's appeal and take into account the company's efforts to improve its compliance process. The decision came after it was revealed the company allegedly made false statements to US officials.

Leave Your Comment

Leave Your Comment


Latest News

  • Mahathir claims election win over ruling coalition

    Mahathir claims election win over ruling coalition

    Ex-premier and opposition leader Mahathir Mohamad, right, spoke to the media at a hotel in Kuala Lumpur late Wednesday. Najib - who was cleared of any criminality by Malaysia's attorney general - and 1MDB have both denied any wrongdoing.
    President Trump endorses Mike DeWine for Ohio Governor: 'He will be great'

    President Trump endorses Mike DeWine for Ohio Governor: 'He will be great'

    Republican candidates spent most of the primary rejecting their party's incumbent. "And so we transfer ahead". John Kasich, from whom she has spent the previous year distancing herself - even as she had his endorsement.
    Final words of the characters who died in Avengers: Infinity War

    Final words of the characters who died in Avengers: Infinity War

    Jackson) sent her a long-range message, we didn't actually SEE Captain Marvel in the end credits sequence... for good reason. While some may argue that this generation had the prequels, there is little to no callbacks to those in the new movies.
  • US Treasury's Mnuchin - Revoking Boeing, Airbus licences to sell jets to Iran

    US Treasury's Mnuchin - Revoking Boeing, Airbus licences to sell jets to Iran

    Trump said he would reimpose USA economic sanctions on Iran, which were lifted under the agreement he had harshly criticized. The National Iranian Oil Company also said that Total would lose its stake in the field to CNPC if it withdraws from Iran.
    Delta flight in Denver evacuated because of smoke in the cabin

    Delta flight in Denver evacuated because of smoke in the cabin

    Airport spokeswoman Emily Williams says passengers reported smoke crammed the cabin because the aircraft was taxiing to the gate. No injuries were reported from smoke inhalation, DIA said, but it was unclear if anyone was injured while getting off the plane.
    Injuries, suspensions and line-up vs West Ham United

    Injuries, suspensions and line-up vs West Ham United

    It wasn't for the want of trying. "We ended up with less players, and the one thing we're short of is numbers here". Top scorer Marko Arnautovic is available despite picking up a knock in the win over Leicester.
  • Pompeo returning from North Korea with American prisoners

    Pompeo returning from North Korea with American prisoners

    President Trump added that his Secretary of State Pompeo had a "good meeting" with the North Korean leader. And Kim Hak Song has been in North Korea custody since May 2017 also for "hostile acts".
    Steam Experiences Coming To Mobile Devices

    Steam Experiences Coming To Mobile Devices

    Phones obviously don't have the luxury of an ethernet port though, so hopefully you have a robust home network and thin walls. Like Steam Link , Valve's video app will be available on Android too, but a firm release date has not been announced yet.
    Conlon hails Irish support after Major League Baseball  debut

    Conlon hails Irish support after Major League Baseball debut

    Mesoraco's career has been sidelined by injuries the last three seasons. Lucie Mets and wound up posting a minor league-best 1.65 ERA. Conlon finished 2016 with the advanced-A St.
  • Google 'pauses' all 8th Amendment Referendum ads

    Google 'pauses' all 8th Amendment Referendum ads

    The announcement comes just a day after Facebook announced it would stop all ads that were being bought from outside of Ireland. Numerous ads were created to sow confusion, anger and discord among Americans through messages on hot-button topics.

    How Many NEXT plc (LON:NXT)'s Analysts Are Bearish?

    Peel Hunt restated their hold rating on shares of Hilton Food Group (LON: HFG ) in a report released on Wednesday, April 11th. Since February 1, 2018, it had 0 insider purchases, and 10 selling transactions for $48.98 million activity.
    Kristen Stewart Wears Lion Brooch To Cannes Film Festival 2018 Opening Ceremony

    Kristen Stewart Wears Lion Brooch To Cannes Film Festival 2018 Opening Ceremony

    This the jury that will decide on the winning movies at the festival, more importantly, choice of the Palme d'Or victor . Not specifically. the women here are not here due to their gender.
  • Brokerages Set Kinder Morgan (KMI) Target Price at $21.39

    Brokerages Set Kinder Morgan (KMI) Target Price at $21.39

    Apple was up 1.2 percent, continuing to ride on news that Berkshire Hathaway's Warren Buffett had boosted stake in the company. It dropped, as 61 investors sold NWS shares while 215 reduced holdings. 83 funds opened positions while 231 raised stakes.
    Indian Team against Afghanistan and Ireland/ England tours announced

    Indian Team against Afghanistan and Ireland/ England tours announced

    Along with the test team, a fully packed ODI andT20 squads were announced to take on Ireland and England in July. The 26-year-old Nair has scored 612 runs for Karnataka in the last Ranji Trophy with three hundreds.
    SeaWorld Parks & Entertainment (SEAS) Receives Average Recommendation of

    SeaWorld Parks & Entertainment (SEAS) Receives Average Recommendation of "Hold" from Brokerages

    The North Carolina-based State Bank Of America De has invested 0% in SeaWorld Entertainment, Inc . (NYSE: SEAS ) for 49,901 shs. SeaWorld Entertainment, Inc . registered $12.03 million net activity with 3 insider purchases and 0 sales since March 6, 2018.
  • Mueller Rejects Allowing Trump to Answer Questions in Writing

    Mueller Rejects Allowing Trump to Answer Questions in Writing

    In his tweets, Trump also took issue with Mueller's investigation into whether he obstructed the Russian Federation investigation. Democrats and independents think the investigations should continue uninterrupted by Congress.
    Ford suspends F-150 production due to parts shortage

    Ford suspends F-150 production due to parts shortage

    The vehicle generated $41 billion in revenue a year ago , about 28 percent of total sales and the lion's share of its profits. Ford may stop production of its bestselling and highly profitable F-150 pickup truck at two factories after a supplier fire.
    Trump to propose US$15 bln spending cut in scaled-back plan

    Trump to propose US$15 bln spending cut in scaled-back plan

    Through the move the $1.3 trillion spending bill will remain unchanged, Fox News reports, but will eliminate wasteful spending. "The national debt is now more than $21 trillion and the deficit could reach $1 trillion next year".

Breaking News



Recommended

In Syria reported two dead in Israeli strike

Shortly thereafter siren alerts sounded in communities in the north and center of the Golan Heights in northern Israel. Iran has held a secure presence in Syria and has backed tyrant Bashar al-Assad during the country's bloody civil war.

Chris Paul Leads Rockets to Conference Finals

The Rockets will have home court advantage and they will either play the New Orleans Pelicans or the Golden State Warriors . The Warriors got their win over the Rockets in Houston on January 4, though neither James Harden nor Kevin Durant played.

Fortnite - How To Get Your Twitch Prime Loot Pack 2

To claim your pack, link your Epic and Twitch accounts, then click on the crown next to the search bar on Twitch. Twitch and Fortnite have teamed up yet again by offering a new set of skins exclusive to Twitch Prime members.

Wayne Rooney reportedly in 'serious talks' with DC United

Think it soon became apparent that he was a luxury rather than a player we truly needed. Everton fans largely seem to be behind the idea of selling Wayne Rooney this summer.

Scientists stumble upon potential new cure for baldness

British scientists identified a drug , originally designed as a treatment for osteoporosis , that could treat human hair loss . Now, there are two hair loss drugs available, the finasteride and minoxidil , which have a mixed reviews and results.

Investigators Search For Remains Of Girl Last Seen Four Decades Ago

Dwyer said investigators are carefully sifting through the old case files so they can finally solve the missing person cases. During the press conference, Dwyer said that May 9 is Ream's birthday, but he hopes "it's his last birthday, quite frankly".

Premier League 17/18: Chelsea vs Huddersfield Town - Lineups, Preview and Prediction

However, the game could see the return of Alvaro Morata who is back fit and in contention after struggling with a back injury for most of the season.

Walmart buys 77% stake in Flipkart for $16 bn

At other side, Flipkart investors and many of its employees will receive heavy profits from the deal with Walmart . Walmart could help Flipkart change this equation, but Amazon won't go down without a fight in the mean time.

Red Sox-Yankees Will Play Two Games In London In 2019

Major League Baseball has put renewed emphasis on worldwide games since Mr Manfred became commissioner in 2015. Each Yankee and Red Sox player will receive an additional GBP 44,000 (USD 60,000) to play in London.

Google Maps to get updated with new Assistant, AR, and recommendation features

You can long press a result on a search query to save it in a Shortlist and then share that list with your friends. With a revamped Explore tab, users can view every place of interest nearby their location.