Global watchdog places Iran on terrorism financing blacklist

An Iranian national flag flies above the new Phase 3 facility at the Persian Gulf Star Co. (PGSPC) gas condensate refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9. The third phase of the refinery begins operations next week and will add 12-15 million liters a day of gasoline output capacity to the plant, Deputy Oil Minister Alireza Sadeghabadi told reporters. A global dirty money watchdog on Friday placed Iran on its blacklist after the country failed to comply with international anti-terror


An Iranian national flag flies above the new Phase 3 facility at the Persian Gulf Star Co. (PGSPC) gas condensate refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9.
The third phase of the refinery begins operations next week and will add 12-15 million liters a day of gasoline output capacity to the plant, Deputy Oil Minister Alireza Sadeghabadi told reporters.
A global dirty money watchdog on Friday placed Iran on its blacklist after the country failed to comply with international anti-terror
Global watchdog places Iran on terrorism financing blacklist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-21
Keywords: news, cnbc, companies, phase, watchdog, fatf, places, financing, global, terrorism, iran, blacklist, refinery, week, told, urging, warnings


Global watchdog places Iran on terrorism financing blacklist

An Iranian national flag flies above the new Phase 3 facility at the Persian Gulf Star Co. (PGSPC) gas condensate refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9. 2019. The third phase of the refinery begins operations next week and will add 12-15 million liters a day of gasoline output capacity to the plant, Deputy Oil Minister Alireza Sadeghabadi told reporters.

A global dirty money watchdog on Friday placed Iran on its blacklist after the country failed to comply with international anti-terrorism financing norms.

The decision comes after more than three years of warnings from the Paris-based Financial Action Task Force (FATF) urging Tehran to enact terrorist financing conventions.

However, the FATF appeared to leave the door ajar for Iran saying “countries should also be able to apply countermeasures independently of any call by the FATF to do so.”


Company: cnbc, Activity: cnbc, Date: 2020-02-21
Keywords: news, cnbc, companies, phase, watchdog, fatf, places, financing, global, terrorism, iran, blacklist, refinery, week, told, urging, warnings


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Huawei’s 4 big issues in 2020 — from the blacklist to the decision over its operating system’s future

Heading into 2020, Huawei will face a number of big challenges. Germany and the U.K., seen as crucial markets for Huawei, have yet to make a decision. The company released its flagship Mate 30 smartphone in September without a licensed version of Google’s Android mobile operating system. Huawei’s operating systemIn August, Huawei introduced its own operating system called HarmonyOS. It touted the operating system as one that could be used across various devices from TVs to smartphones.


Heading into 2020, Huawei will face a number of big challenges.
Germany and the U.K., seen as crucial markets for Huawei, have yet to make a decision.
The company released its flagship Mate 30 smartphone in September without a licensed version of Google’s Android mobile operating system.
Huawei’s operating systemIn August, Huawei introduced its own operating system called HarmonyOS.
It touted the operating system as one that could be used across various devices from TVs to smartphones.
Huawei’s 4 big issues in 2020 — from the blacklist to the decision over its operating system’s future Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-31  Authors: arjun kharpal
Keywords: news, cnbc, companies, markets, future, operating, harmonyos, issues, meng, systems, continued, big, 2020, huaweis, company, decision, system, huawei, blacklist


Huawei's 4 big issues in 2020 — from the blacklist to the decision over its operating system's future

A Huawei logo is displayed at a retail store in Beijing, China on May 27, 2019. Fred Dufour | AFP | Getty Images

It’s been a tumultuous year for Huawei. On one hand, the Chinese technology giant has faced continued pressure from the U.S. which has accused Huawei of being a national security risk, and led to its blacklisting by Washington. On the other hand, the company has continued to increase revenue and strike deals to be part of next-generation mobile internet infrastructure known as 5G. For 2019, Huawei said its estimated sales revenue will top 850 billion yuan ($121.66 billion), up about 18% on-year but still lower than the company’s initial projections. Heading into 2020, Huawei will face a number of big challenges.

Potential block from more markets

While Huawei has signed a number of 5G commercial contracts, there are still some significant markets that have not yet decided on whether to let the Chinese giant into their next-generation mobile networks. While Australia and Japan have effectively blocked Huawei from their 5G networks, some countries are still undecided. Germany and the U.K., seen as crucial markets for Huawei, have yet to make a decision.

Any ban from either of those countries will be closely watched to see if other major markets follow suit. President Donald Trump has reportedly been pressuring allied countries to ban Huawei from their 5G networks. Washington maintains that Huawei is a national security risk because its equipment could be used for espionage by the Chinese government. Huawei has repeatedly denied those allegations.

The blacklist

Earlier this year, Huawei was put on a U.S. government blacklist, known as the Entity List. This prohibits U.S. companies from doing business with Huawei without a special license. Huawei relies heavily on American software and components. Some U.S. companies however have continued to sell to Huawei, utilizing a loophole in the regulations. Bloomberg reported this month that the U.S. government was considering tightening the rules.

Over the past few years, Huawei has been diversifying its supply chain and focusing on in-house design of key components like chips. But the Entity List has hurt Huawei in one key area — smartphones. The company released its flagship Mate 30 smartphone in September without a licensed version of Google’s Android mobile operating system. That means users buying the new phone do not have Google apps pre-installed. While globally, particularly in China, Huawei’s smartphone shipments are growing, it saw a decline in the second quarter and no growth in the third quarter. Google Android is not that important for Huawei in China because the U.S. firm’s services — such as Gmail and search — are blocked there anyway. However, it’s very important for international markets with users who rely on many of Google’s apps. For its part, Huawei said it expects to remain on the U.S. blacklist in 2020. “We won’t grow as rapidly as we did in the first half of 2019, growth that continued throughout the year owing to sheer momentum in the market,” said Huawei’s rotating Chairman Eric Xu in a statement on Tuesday. “It’s going to be a difficult year for us,” Xu said about 2020, adding, “Survival will be our first priority.”

Huawei’s operating system

In August, Huawei introduced its own operating system called HarmonyOS. It touted the operating system as one that could be used across various devices from TVs to smartphones. At that time, Richard Yu, the head of Huawei’s consumer division, said the company could “immediately” switch to HarmonyOS from Android if it was permanently blocked from using Google’s software. But so far, the company has indicated it will not use HarmonyOS on its smartphones. All eyes will be on what Huawei does with HarmonyOS as it continues to launch new devices.

CFO on trial

Huawei’s Chief Financial Officer Meng Wanzhou was arrested in Canada in December 2018 at the behest of the U.S. authorities. The U.S. is seeking the extradition of Meng, who is also the daughter of Huawei founder Ren Zhengfei. The American government alleges that Meng committed bank fraud in relation to skirting U.S. sanctions on Iran. Meng has denied the allegations. Her legal team has sought to get the case thrown out, and the hearings will continue into 2020.


Company: cnbc, Activity: cnbc, Date: 2019-12-31  Authors: arjun kharpal
Keywords: news, cnbc, companies, markets, future, operating, harmonyos, issues, meng, systems, continued, big, 2020, huaweis, company, decision, system, huawei, blacklist


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Huawei chairman says US blacklist has ‘limited’ impact on company

The U.S. decision to allow American firms to continue doing business with Huawei would have little impact on the Chinese tech company, according to a senior executive at Huawei. Reuters reported that President Donald Trump’s administration is about to issue a two-week extension of a license that will allow U.S. firms to continue supplying technology parts to Huawei. In May, the U.S. added Huawei and its affiliates to a blacklist, the so-called Entity List, and said the company was a security ris


The U.S. decision to allow American firms to continue doing business with Huawei would have little impact on the Chinese tech company, according to a senior executive at Huawei.
Reuters reported that President Donald Trump’s administration is about to issue a two-week extension of a license that will allow U.S. firms to continue supplying technology parts to Huawei.
In May, the U.S. added Huawei and its affiliates to a blacklist, the so-called Entity List, and said the company was a security ris
Huawei chairman says US blacklist has ‘limited’ impact on company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: saheli roy choudhury, ana nicolaci da costa
Keywords: news, cnbc, companies, company, tech, huawei, firms, impact, license, limited, chairman, products, technology, blacklist, liang, parts


Huawei chairman says US blacklist has 'limited' impact on company

The U.S. decision to allow American firms to continue doing business with Huawei would have little impact on the Chinese tech company, according to a senior executive at Huawei. Huawei is able to ship its products to customers without relying on U.S. parts, Chairman Liang Hua told CNBC’s Geoff Cutmore at the East Tech West conference in the Nansha district of Guangzhou, China on Monday. Reuters reported that President Donald Trump’s administration is about to issue a two-week extension of a license that will allow U.S. firms to continue supplying technology parts to Huawei. “No matter whether there will be an extension, in terms of its real impact on Huawei, it will be very limited,” Liang said in translated remarks during a panel. “Our products are able to be shipped without the reliance on the U.S. components and chips.” He said that if U.S. companies are not allowed to sell to Huawei, it would “pose a bigger damage” to them. Huawei has the ability to ensure all of its main products, including 5G base stations, can be manufactured and supplied to its customers without relying on U.S. parts, according to the chairman.

Huawei is the world’s biggest telecommunications equipment maker and one of the leading names in the development of 5G — the next generation of high-speed mobile internet technology that aims to provide faster data speeds and more bandwidth to carry growing levels of web traffic. It’s seen as central to China’s ambitions in becoming a dominant player in 5G. In May, the U.S. added Huawei and its affiliates to a blacklist, the so-called Entity List, and said the company was a security risk. As a result, U.S. companies cannot sell or transfer technology to Huawei without a government-issued license. Washington later softened its stance and temporarily extended the license for American firms. Despite pressure from the U.S., Huawei claimed in October that it has signed more than 60 commercial 5G contracts with “leading global carriers.”

No direct contact with US government

Huawei’s chairman said the company has not had direct communication with the U.S. government. “We don’t have a channel to talk to them either,” Liang said. Asked why he thought officials in the U.S. government were not speaking to Huawei directly, Liang said the U.S. government does not know the tech company well enough. “The lack of communication is because of a lack of knowledge.”


Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: saheli roy choudhury, ana nicolaci da costa
Keywords: news, cnbc, companies, company, tech, huawei, firms, impact, license, limited, chairman, products, technology, blacklist, liang, parts


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China reportedly lowers expectations for progress on trade talks this week after US blacklist

Trump rips NBA for ‘pandering to China’ but says league has to…”They have to work out their own situation,” Trump said of the dispute between the NBA and China set off by an official’s pro-Hong Kong tweet. Politicsread more


Trump rips NBA for ‘pandering to China’ but says league has to…”They have to work out their own situation,” Trump said of the dispute between the NBA and China set off by an official’s pro-Hong Kong tweet. Politicsread more
China reportedly lowers expectations for progress on trade talks this week after US blacklist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yun li
Keywords: news, cnbc, companies, trade, tweetpoliticsread, week, work, trump, tothey, rips, talks, reportedly, china, blacklist, nba, expectations, situation, set, prohong, progress, lowers


China reportedly lowers expectations for progress on trade talks this week after US blacklist

Trump rips NBA for ‘pandering to China’ but says league has to…

“They have to work out their own situation,” Trump said of the dispute between the NBA and China set off by an official’s pro-Hong Kong tweet.

Politics

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yun li
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Goldman evaluating role in China’s Megvii IPO after US blacklist

Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist. In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to


Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist. In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to
Goldman evaluating role in China’s Megvii IPO after US blacklist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, chinese, firm, goldman, intelligence, evaluating, chinas, recognition, blacklist, shanghai, facial, megvii, ipo, role, public, companies


Goldman evaluating role in China's Megvii IPO after US blacklist

An attendee uses his smartphone to record a facial-recognition demonstration on himself at the Beijing Megvii booth at the MWC Shanghai exhibition in Shanghai, China, on June 27, 2019.

Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist.

The Trump administration said on Monday that Megvii and seven other Chinese companies were targeted because they were implicated in Beijing’s repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region in the far west of the country.

In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion.

Risk consultants and Silicon Valley lawyers said that other U.S. companies involved with the blacklisted Chinese firms, whether as investors or as underwriters, are also likely to reevaluate their relationships.

Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to comment.

Goldman had thoroughly evaluated the Megvii deal before initially signing onto it using its usual due diligence process, a person familiar with the matter said.

Known in the artificial intelligence business for its facial recognition platform Face++, Megvii will become the first Chinese AI firm to go public if the deal goes ahead. The company provides facial recognition and other AI technology to governments and companies including Alibaba, Ant Financial, Lenovo Group and Huawei.


Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, chinese, firm, goldman, intelligence, evaluating, chinas, recognition, blacklist, shanghai, facial, megvii, ipo, role, public, companies


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Trump’s blacklist derails Goldman’s plan to take a Chinese AI company public

President Donald Trump’s move to blacklist Chinese tech companies is threatening to derail what could be the first Chinese artificial intelligence firm to go public. Megvii Technology, a Chinese AI company known for its facial recognition platform, is among a slew of companies the White House blacklisted due to alleged human rights violations against Muslim minorities in China’s far-western region of Xinjiang. A spokesperson from Megvii said the company has no comment on Goldman’s statement. Reg


President Donald Trump’s move to blacklist Chinese tech companies is threatening to derail what could be the first Chinese artificial intelligence firm to go public. Megvii Technology, a Chinese AI company known for its facial recognition platform, is among a slew of companies the White House blacklisted due to alleged human rights violations against Muslim minorities in China’s far-western region of Xinjiang. A spokesperson from Megvii said the company has no comment on Goldman’s statement. Reg
Trump’s blacklist derails Goldman’s plan to take a Chinese AI company public Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yun li
Keywords: news, cnbc, companies, derails, company, blacklist, china, chinese, public, technology, tech, plan, companies, spokesperson, megvii, goldmans, trumps


Trump's blacklist derails Goldman's plan to take a Chinese AI company public

An attendee uses his smartphone to record a facial-recognition demonstration on himself at the Beijing Megvii booth at the MWC Shanghai exhibition in Shanghai, China, on June 27, 2019.

President Donald Trump’s move to blacklist Chinese tech companies is threatening to derail what could be the first Chinese artificial intelligence firm to go public.

Megvii Technology, a Chinese AI company known for its facial recognition platform, is among a slew of companies the White House blacklisted due to alleged human rights violations against Muslim minorities in China’s far-western region of Xinjiang. Its planned initial public offering now might not see the light of day as Goldman Sachs, one of the IPO’s sponsors, said it’s rethinking its role due to the blacklist.

“We are evaluating in light of the recent developments,” regarding our involvement in the IPO, a spokesperson at Goldman told CNBC on Wednesday.

Megvii, backed by tech giant Alibaba, was scheduled to debut in the public markets in the fourth quarter and might raise as much as $1 billion, Reuters previously reported.

A spokesperson from Megvii said the company has no comment on Goldman’s statement.

Regarding Trump’s blacklist, Megvii said it “strongly objects to the company’s designation on the U.S. Commerce Department’s Entity List, for which there are no grounds.”

“We believe our inclusion on the list reflects a misunderstanding of our company and our technology, and we will be engaging with the U.S. government on this basis,” the spokesperson said. “Any direct business impact from this designation is expected to be minimal.”

The U.S. Department of Commerce on Monday barred eight companies, as well as 20 Chinese government entities, from doing business with American firms without being granted a U.S. government license. The Trump administration also put visa restrictions on Chinese officials “who are believed to be responsible for, or complicit in, the detention and abuse” of Muslim minority groups in Xinjiang.

The moves came just days before the U.S. and China resume their high-level trade talks in Washington this week. China on Tuesday said it “strongly urges” the U.S. to stay clear of the country’s domestic issues and remove the sanctions immediately. Asked whether China would retaliate for the blacklist, a Chinese Foreign Ministry spokesman said “stay tuned.”


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yun li
Keywords: news, cnbc, companies, derails, company, blacklist, china, chinese, public, technology, tech, plan, companies, spokesperson, megvii, goldmans, trumps


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China tempers optimism for a trade deal, says ‘stay tuned’ for blacklist retaliation

Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. Chinese Foreign Ministry spokesman Geng Shuang said Tuesday “stay tuned,” when asked whether China would retaliate over the blacklist over alleged human rights violations against Muslim minorities. The comments deepened the tensions between the two economic superpowers before they resume high-level trade talks on Thursday. The White House is


Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. Chinese Foreign Ministry spokesman Geng Shuang said Tuesday “stay tuned,” when asked whether China would retaliate over the blacklist over alleged human rights violations against Muslim minorities. The comments deepened the tensions between the two economic superpowers before they resume high-level trade talks on Thursday. The White House is
China tempers optimism for a trade deal, says ‘stay tuned’ for blacklist retaliation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: yun li
Keywords: news, cnbc, companies, tuned, retaliate, chinese, foreign, retaliation, white, president, china, optimism, blacklist, trade, stay, geng, talks, tempers, house, deal


China tempers optimism for a trade deal, says 'stay tuned' for blacklist retaliation

Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019.

China poured cold water on hopes for a trade deal, signaling it would retaliate against the U.S. threat to put Chinese tech companies on a blacklist, just two days ahead of the highly-anticipated trade talks in Washington.

Chinese Foreign Ministry spokesman Geng Shuang said Tuesday “stay tuned,” when asked whether China would retaliate over the blacklist over alleged human rights violations against Muslim minorities.

“We urge the U.S. to immediately correct its mistake, withdraw the relevant decision and stop interfering in China’s internal affairs,” Geng said at a press conference according to a transcript on the foreign ministry’s website. “China will continue to take firm and forceful measures to resolutely safeguard national sovereignty, security and development interests.”

The comments deepened the tensions between the two economic superpowers before they resume high-level trade talks on Thursday. The White House is also reportedly discussing blocking government pension funds from investing in China, further dimming the expectations for a resolution. White House trade policy director Peter Navarro denied the reports however, calling them “fake news.”


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: yun li
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Trump is now blacklisting several big Chinese companies — here’s what they do and why they are important

The move has already hit suppliers to the companies named, and roiled markets Tuesday on fears of wavering trade talks. Together, the companies show clearly the direction Commerce will continue to take with its blacklist. Namely, it’s looking at Chinese companies that are already global, that provide tech infrastructure that is hard to replace once it’s been acquired, and that could feasibly be used to bolster China’s intelligence and military organizations. Blacklisting these companies should p


The move has already hit suppliers to the companies named, and roiled markets Tuesday on fears of wavering trade talks. Together, the companies show clearly the direction Commerce will continue to take with its blacklist. Namely, it’s looking at Chinese companies that are already global, that provide tech infrastructure that is hard to replace once it’s been acquired, and that could feasibly be used to bolster China’s intelligence and military organizations. Blacklisting these companies should p
Trump is now blacklisting several big Chinese companies — here’s what they do and why they are important Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: kate fazzini
Keywords: news, cnbc, companies, important, companies, provide, tianjin, create, blacklist, big, trump, commerce, blacklisting, trade, chinese, infrastructure, heres, intelligence


Trump is now blacklisting several big Chinese companies — here's what they do and why they are important

Chairman of Hangzhou Hiklp Electronics Co., Ltd. Chen Zongnian delivers a speech during the 2nd World Intelligence Congress (WIC 2018) at Tianjin Meijiang Convention and Exhibition Center on May 16, 2018 in Tianjin, China.

The Department of Commerce added 28 new companies and agencies to its running “blacklist” of Chinese firms banned from doing business in the United States, with a notable focus on companies that specialize in artificial intelligence, machine learning and digital surveillance.

The move has already hit suppliers to the companies named, and roiled markets Tuesday on fears of wavering trade talks.

Together, the companies show clearly the direction Commerce will continue to take with its blacklist. Namely, it’s looking at Chinese companies that are already global, that provide tech infrastructure that is hard to replace once it’s been acquired, and that could feasibly be used to bolster China’s intelligence and military organizations.

Blacklisting these companies should please some in the intelligence community who have long argued that allowing Chinese companies to provide technological infrastructure to the U.S. would undercut the ability of the U.S. to defend itself. But it will also create divides with commerce organizations focused on free trade, and will likely create further disruptions in the ongoing trade negotiations between the Trump administration and Chinese president Xi Jinping.


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: kate fazzini
Keywords: news, cnbc, companies, important, companies, provide, tianjin, create, blacklist, big, trump, commerce, blacklisting, trade, chinese, infrastructure, heres, intelligence


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Trump’s updated China blacklist slams shares of chipmaker Ambarella

Shares of chipmaker Ambarella fell as much as 12% in extended trading on Monday after one of its Chinese customers, video surveillance company Hikvision, was blacklisted by the U.S. government. Hikvision was one of 28 companies the Commerce Department added to the so-called Entity List, restricting its ability to do business with American firms. Several component companies have been wrapped up in the U.S. government’s efforts to limit hardware manufacturers from transacting with Chinese companie


Shares of chipmaker Ambarella fell as much as 12% in extended trading on Monday after one of its Chinese customers, video surveillance company Hikvision, was blacklisted by the U.S. government. Hikvision was one of 28 companies the Commerce Department added to the so-called Entity List, restricting its ability to do business with American firms. Several component companies have been wrapped up in the U.S. government’s efforts to limit hardware manufacturers from transacting with Chinese companie
Trump’s updated China blacklist slams shares of chipmaker Ambarella Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: jordan novet
Keywords: news, cnbc, companies, companies, blacklist, updated, restrictions, trade, hikvision, ability, list, china, shares, slams, customers, chipmaker, chinese, video, business, trumps, ambarella


Trump's updated China blacklist slams shares of chipmaker Ambarella

Shares of chipmaker Ambarella fell as much as 12% in extended trading on Monday after one of its Chinese customers, video surveillance company Hikvision, was blacklisted by the U.S. government.

Hikvision was one of 28 companies the Commerce Department added to the so-called Entity List, restricting its ability to do business with American firms. Several component companies have been wrapped up in the U.S. government’s efforts to limit hardware manufacturers from transacting with Chinese companies, most notably Huawei. As the trade war intensifies, the list is expanding.

Ambarella, which makes processors for cameras and other vision systems, said in its most recent annual report that its video processing solutions are used by Hikvision, though it didn’t say what percentage of revenue comes from the Chinese company. Hikvision sells video cameras, video recorders and related equipment, and its products have reportedly been deployed to help with surveillance in China’s Xinjiang region, where Muslims have been placed in “re-education camps.”

Ambarella warned about the potential for trade conflicts to emerge in its latest quarterly report:

General trade tensions between the United States and China have been escalating in 2018 and 2019, which has, in our view, created and will continue to create an uncertain business environment. While tariffs and other retaliatory trade measures have not yet had a significant impact on our business or results of operations, we cannot predict future developments. In particular, if additional tariffs or trade restrictions are imposed on our SoC solutions or the products of our customers, or trade restrictions are imposed on our ability to conduct business with certain customers, there could be a negative impact on our operations and financial performance. For example, if trade restrictions were placed on a significant customer, such as our China IP security customers, affecting our ability to do business with them, it would likely have a material adverse effect on our business and financial condition.

Ambarella is based in Santa Clara, California, and has a $1.9 billion market cap as of Monday’s close. Other customers include Alphabet and GoPro. Hikvision is based in Hangzhou.

In addition to Hikvision, Chinese artificial intelligence companies Megvii and SenseTime are being put on the Entity List, according to an update to the Federal Register that is scheduled to be published in Wednesday.

WATCH: Qualcomm president optimistic U.S.-China trade tensions will be resolved


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: jordan novet
Keywords: news, cnbc, companies, companies, blacklist, updated, restrictions, trade, hikvision, ability, list, china, shares, slams, customers, chipmaker, chinese, video, business, trumps, ambarella


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Huawei calls US move to blacklist more affiliates ‘unjust’ and ‘politically motivated’

However, the Bureau of Industry and Security also added another 46 Huawei affiliates onto the blacklist. So to us, the entity list will be there for quite some time,” he said. In a statement on Tuesday, Huawei called Washington’s decision to add more of its affiliates to the Entity List “politically motivated.” “Attempts to suppress Huawei’s business won’t help the United States achieve technological leadership,” Huawei said. “We call on the US government to put an end to this unjust treatment a


However, the Bureau of Industry and Security also added another 46 Huawei affiliates onto the blacklist. So to us, the entity list will be there for quite some time,” he said. In a statement on Tuesday, Huawei called Washington’s decision to add more of its affiliates to the Entity List “politically motivated.” “Attempts to suppress Huawei’s business won’t help the United States achieve technological leadership,” Huawei said. “We call on the US government to put an end to this unjust treatment a
Huawei calls US move to blacklist more affiliates ‘unjust’ and ‘politically motivated’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: arjun kharpal
Keywords: news, cnbc, companies, trade, blacklist, politically, company, huawei, unjust, american, entity, list, chinese, calls, motivated, business, huaweis, security, affiliates


Huawei calls US move to blacklist more affiliates 'unjust' and 'politically motivated'

The U.S. government’s decision to add more of Huawei’s affiliates to a blacklist is “unjust” and “politically motivated” and will not help the country advance its technological leadership, the Chinese telecommunications giant said Tuesday. U.S. Commerce Secretary Wilbur Ross announced Monday that it was extending by another 90 days a temporary reprieve for Huawei to continue doing business with American companies. The deadline had lapsed on Monday. However, the Bureau of Industry and Security also added another 46 Huawei affiliates onto the blacklist. “These actions violate the basic principles of free market competition. They are in no one’s interests, including U.S. companies,” Huawei said in a statement. In May, Huawei was put on the U.S. Entity List, which restricts American firms from doing business with the Chinese company. Shortly after, Washington offered a 90-day reprieve for Huawei, allowing U.S. businesses to continue selling limited and specific products to the Chinese telecom. “As we continue to urge consumers to transition away from Huawei’s products, we recognize that more time is necessary to prevent any disruption,” Ross said in a statement.

Some American rural mobile networks use Huawei gear while some U.S. technology component companies rely on a significant portion of revenue from the Chinese giant. Ross reiterated his concern that Huawei poses a national security threat. The U.S. has maintained that Huawei’s equipment could be used as a backdoor by the Chinese government to spy on Americans, allegations the company has repeatedly denied.

‘Unjust’

Speaking to The Associated Press, Huawei founder Ren Zhengfei said Tuesday he expects no relief from Washington and his company was making plans as if American export restrictions will not go away. “Right now, attacking Huawei in the United States is politically correct, while helping Huawei even once would put them under significant pressure. So to us, the entity list will be there for quite some time,” he said. In a statement on Tuesday, Huawei called Washington’s decision to add more of its affiliates to the Entity List “politically motivated.” “Attempts to suppress Huawei’s business won’t help the United States achieve technological leadership,” Huawei said. “We call on the US government to put an end to this unjust treatment and remove Huawei from the Entity List.” The company added that the decision “won’t have a substantial impact” on business. Huawei Chairman Liang Hua said that “neither production nor shipment has been interrupted, not for one single day.” Still, earlier this year, Huawei slashed its revenue forecast and predicted a $30 billion hit to its revenues over the next two years.

It’s clear to me at least, that the president views Huawei as a bargaining chip and a pressure point for a trade deal. James Pethokoukis Fellow at the American Enterprise Institute

Huawei has been focusing on trying to develop more of the core technology that had been provided by U.S. companies. The telecom equipment maker is continuing to design its own processors and modems for smartphones. It also recently released its own operating system called HarmonyOS, even though it currently uses Google’s Android for its smartphones and Microsoft’s Windows for laptops. Richard Yu, CEO of Huawei’s consumer business, said last week that if the company is permanently cut off from Google, it could switch to the new operating system “immediately.”

Huawei a ‘bargaining chip’

Huawei has been caught up in the broader U.S.-China trade war. President Donald Trump has sent mixed signals over the last few months about the fate of Huawei in the U.S. In May, Trump said that it was “possible that Huawei would be included in a trade deal.” But just this weekend, he said he didn’t want to do business with Huawei “because it is a national security threat.” Some experts have suggested that the Chinese tech firm is being used as a “bargaining chip” in the U.S.-China trade war.

“It’s clear to me at least, that the president views Huawei as a bargaining chip and a pressure point for a trade deal. … There are certainly those in the administration that would like to kill this company and they view it as kind of an opening shot in a long-term cold war with China,” James Pethokoukis, Dewitt Wallace fellow at the American Enterprise Institute, told CNBC’s “The Exchange ” on Monday. “I just don’t see evidence that Trump thinks that.” “That’s the president’s problem,” Pethokoukis added. “If he’s calling it right now that they’re a national security issue, if that’s the case, then it’s hard to come to a trade deal that doesn’t involve some sort of limitation on Huawei. It’s hard to see the end game there.”


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: arjun kharpal
Keywords: news, cnbc, companies, trade, blacklist, politically, company, huawei, unjust, american, entity, list, chinese, calls, motivated, business, huaweis, security, affiliates


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