China and India will become asset management ‘powerhouses,’ top fund manager says

China and India are poised to become “real powerhouses” for the asset management industry, according to Standard Life Aberdeen Vice-Chairman Martin Gilbert. Speaking to CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia, Gilbert said Asia remained the key focus for asset management arm Aberdeen Standard Investments (ASI), based on the growth in retail investors and wealth in China and India. “It’s not really a retail market yet but when it is, China, India, these sort of place


China and India are poised to become “real powerhouses” for the asset management industry, according to Standard Life Aberdeen Vice-Chairman Martin Gilbert. Speaking to CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia, Gilbert said Asia remained the key focus for asset management arm Aberdeen Standard Investments (ASI), based on the growth in retail investors and wealth in China and India. “It’s not really a retail market yet but when it is, China, India, these sort of place
China and India will become asset management ‘powerhouses,’ top fund manager says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: elliot smith, jason alden, bloomberg via getty images
Keywords: news, cnbc, companies, china, powerhouses, manager, asset, retail, fund, real, management, standard, industry, india, gilbert


China and India will become asset management 'powerhouses,' top fund manager says

China and India are poised to become “real powerhouses” for the asset management industry, according to Standard Life Aberdeen Vice-Chairman Martin Gilbert.

Speaking to CNBC at the first Financial Sector Conference in Riyadh, Saudi Arabia, Gilbert said Asia remained the key focus for asset management arm Aberdeen Standard Investments (ASI), based on the growth in retail investors and wealth in China and India.

“It’s not really a retail market yet but when it is, China, India, these sort of places are going to be real powerhouses for the asset management industry,” Gilbert said.

ASI expanded its Asian investment team in November 2018, with four portfolio managers joining in Shanghai and Hong Kong to bolster its China fixed income and equities expertise.

Gilbert said China’s top-down economy and political structure meant that “you need to be close to the government in China and as far away from the government as possible in India.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: elliot smith, jason alden, bloomberg via getty images
Keywords: news, cnbc, companies, china, powerhouses, manager, asset, retail, fund, real, management, standard, industry, india, gilbert


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‘Chinese people love and long for peace,’ President Xi says as major naval parade kicks off

The Chinese people love peace and countries should not threaten each other with the use of force, President Xi Jinping said on Tuesday as he kicked off a large-scale naval parade marking 70 years since the founding of China’s navy. Meeting foreign naval officers in the eastern Chinese city of Qingdao, Xi said the navies of the world should work together to protect maritime peace and order. Xi is expected to review the naval parade from sea later in the day, though it is unclear whether poor weat


The Chinese people love peace and countries should not threaten each other with the use of force, President Xi Jinping said on Tuesday as he kicked off a large-scale naval parade marking 70 years since the founding of China’s navy. Meeting foreign naval officers in the eastern Chinese city of Qingdao, Xi said the navies of the world should work together to protect maritime peace and order. Xi is expected to review the naval parade from sea later in the day, though it is unclear whether poor weat
‘Chinese people love and long for peace,’ President Xi says as major naval parade kicks off Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, sea, kicks, xi, countries, major, naval, love, chinese, china, parade, long, foreign, peace, force, president


'Chinese people love and long for peace,' President Xi says as major naval parade kicks off

The Chinese people love peace and countries should not threaten each other with the use of force, President Xi Jinping said on Tuesday as he kicked off a large-scale naval parade marking 70 years since the founding of China’s navy.

Xi is overseeing a sweeping plan to refurbish the People’s Liberation Army (PLA) by developing everything from stealth jets to aircraft carriers as China ramps up its presence in the disputed South China Sea and around self-ruled Taiwan, which have rattled nerves around the region and in Washington.

The navy has been a key beneficiary of the modernization plan, with China looking to project power far from the country’s shores and protect its trading routes and citizens overseas.

Meeting foreign naval officers in the eastern Chinese city of Qingdao, Xi said the navies of the world should work together to protect maritime peace and order.

“The Chinese people love and long for peace, and will unswervingly follow the path of peaceful development,” Xi added, in remarks carried by the official Xinhua news agency, after foreign reporters were asked by Xi to leave the room.

“Everyone should respect each other, treat each other as equals, enhance mutual trust, strengthen maritime dialogue and exchanges, and deepen pragmatic cooperation between navies,” he added.

“There must be more discussions and consultations between countries, and there cannot be resorts to force or threats of force at the slightest pretext,” Xi said.

“All countries should adhere to equal consultations, improve crisis communication mechanisms, strengthen regional security cooperation, and promote the proper settlement of maritime-related disputes.”

Xi is expected to review the naval parade from sea later in the day, though it is unclear whether poor weather in Qingdao — with mist and driving rain — could affect the event.

The parade will feature 32 Chinese vessels and 39 aircraft, as well as warships from 13 foreign countries including India, Japan, Vietnam and Australia.

China has said it will display for the first time new nuclear submarines and warships.

China has frequently had to rebuff concerns about its military intentions, especially as military spending continues to scale new heights.

Beijing says it has nothing to hide, and invited a small number of foreign media onboard a naval ship to watch the parade, including from Reuters.

China’s last naval battles were with the Vietnamese in the South China Sea in 1974 and 1988, though these were relatively minor skirmishes.

Chinese navy ships have also participated in international anti-piracy patrols off Somalia’s coast since late 2008.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: artyom ivanov, tass, getty images
Keywords: news, cnbc, companies, sea, kicks, xi, countries, major, naval, love, chinese, china, parade, long, foreign, peace, force, president


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China, US warn their citizens about traveling to Sri Lanka after bombings

China and the U.S. have warned their citizens about traveling to Sri Lanka after a series of explosions there on Easter Sunday killed nearly 300 people, including 32 foreigners. A spate of bombings on churches and hotels in Sri Lanka on Sunday killed 290 people and wounded more than 500 others. On Tuesday, the Chinese embassy warned its citizens in Sri Lanka to stay away “in the near term” from crowded areas and pay attention to safety reminders. The U.S. State Department on Sunday also issued a


China and the U.S. have warned their citizens about traveling to Sri Lanka after a series of explosions there on Easter Sunday killed nearly 300 people, including 32 foreigners. A spate of bombings on churches and hotels in Sri Lanka on Sunday killed 290 people and wounded more than 500 others. On Tuesday, the Chinese embassy warned its citizens in Sri Lanka to stay away “in the near term” from crowded areas and pay attention to safety reminders. The U.S. State Department on Sunday also issued a
China, US warn their citizens about traveling to Sri Lanka after bombings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: joanna tan, chamila karunarathne, anadolu agency, getty images
Keywords: news, cnbc, companies, possible, citizens, lanka, traveling, china, warnings, warn, bombings, killed, attacks, advisory, sri, warned, state


China, US warn their citizens about traveling to Sri Lanka after bombings

China and the U.S. have warned their citizens about traveling to Sri Lanka after a series of explosions there on Easter Sunday killed nearly 300 people, including 32 foreigners.

The warnings come as a blow to Sri Lanka’s fast-growing tourism sector, which has already been hit by last year’s political turmoil.

A spate of bombings on churches and hotels in Sri Lanka on Sunday killed 290 people and wounded more than 500 others. The country is under a state of emergency, and its capital, Colombo, is under curfew amid warnings of further attacks and fears of communal violence.

There has been no claim of responsibility for the attacks, but the authorities have blamed local militants with links to foreign networks.

On Tuesday, the Chinese embassy warned its citizens in Sri Lanka to stay away “in the near term” from crowded areas and pay attention to safety reminders.

“If Chinese citizens insist on going (to Sri Lanka) after this warning is issued, they will bring enormous security risks to their parties and make it difficult for the embassy to provide effective assistance,” the advisory said in Chinese.

The U.S. State Department on Sunday also issued an advisory that Americans should “exercise increased caution” in Sri Lanka. “Terrorist groups continue plotting possible attacks in Sri Lanka,” said the advisory, which cited tourist locations, markets, hotels, clubs and restaurants among possible targets.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: joanna tan, chamila karunarathne, anadolu agency, getty images
Keywords: news, cnbc, companies, possible, citizens, lanka, traveling, china, warnings, warn, bombings, killed, attacks, advisory, sri, warned, state


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Here’s why China and India will remain defiant amid threat of US sanctions for Iranian oil imports

China and India are both unlikely to completely cut off Iranian crude imports, energy analysts have said, despite the imminent threat of U.S. sanctions. President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May 1 or face sanctions. “Iranian exports will not actually reach zero,” analysts at Eurasia Group said in a research note published Monday. “China, which imports approximately 500,000 bpd (barrels per day), will make considerable cuts in t


China and India are both unlikely to completely cut off Iranian crude imports, energy analysts have said, despite the imminent threat of U.S. sanctions. President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May 1 or face sanctions. “Iranian exports will not actually reach zero,” analysts at Eurasia Group said in a research note published Monday. “China, which imports approximately 500,000 bpd (barrels per day), will make considerable cuts in t
Here’s why China and India will remain defiant amid threat of US sanctions for Iranian oil imports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: sam meredith, imaginechina, ap images, fred dufour, afp, getty images, vipin kumar, hindustan times via getty images
Keywords: news, cnbc, companies, wti, defiant, sanctions, india, china, zero, remain, buyers, analysts, iranian, crude, heres, oil, trade, threat, imports


Here's why China and India will remain defiant amid threat of US sanctions for Iranian oil imports

China and India are both unlikely to completely cut off Iranian crude imports, energy analysts have said, despite the imminent threat of U.S. sanctions.

President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May 1 or face sanctions.

The move, which took many market participants by surprise, ends six months of waivers which had allowed Iran’s eight biggest buyers of crude to continue to import limited volumes.

International benchmark Brent crude traded at $74.26 Tuesday afternoon, up around 0.3%, while U.S. West Texas Intermediate (WTI) stood at $65.93, almost 0.6% higher.

“Iranian exports will not actually reach zero,” analysts at Eurasia Group said in a research note published Monday.

“China, which imports approximately 500,000 bpd (barrels per day), will make considerable cuts in the near term. For Beijing, securing the trade agreement with the U.S. is the top priority, and China will not link Iran oil imports to the trade talks.”


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: sam meredith, imaginechina, ap images, fred dufour, afp, getty images, vipin kumar, hindustan times via getty images
Keywords: news, cnbc, companies, wti, defiant, sanctions, india, china, zero, remain, buyers, analysts, iranian, crude, heres, oil, trade, threat, imports


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An emerging crisis in China could give US the upper hand in trade talks

“We are not sure if the market appreciates how a worsening epidemic of African swine fever for China’s massive pig population could further force China’s hand on a broader trade war compromise,” Gilardi said. The only commodity outperforming lean hogs is RBOB gasoline, which is up about 60% year to date. U.S. and Chinese officials have indicated recently that both sides are coming close to a trade deal. Earlier this month, Chinese Vice Premier Liu He said a new consensus has been reached in the


“We are not sure if the market appreciates how a worsening epidemic of African swine fever for China’s massive pig population could further force China’s hand on a broader trade war compromise,” Gilardi said. The only commodity outperforming lean hogs is RBOB gasoline, which is up about 60% year to date. U.S. and Chinese officials have indicated recently that both sides are coming close to a trade deal. Earlier this month, Chinese Vice Premier Liu He said a new consensus has been reached in the
An emerging crisis in China could give US the upper hand in trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: fred imbert
Keywords: news, cnbc, companies, lead, gilardi, chinese, hand, war, pressure, upper, negotiations, crisis, pork, swine, trade, talks, emerging, chinas, china


An emerging crisis in China could give US the upper hand in trade talks

This could lead to even higher hog prices, which are already putting pressure on the Chinese consumer and could force China to make concessions in its negotiations with the U.S., analyst Ross Gilardi wrote in a note to clients.

“We are not sure if the market appreciates how a worsening epidemic of African swine fever for China’s massive pig population could further force China’s hand on a broader trade war compromise,” Gilardi said. “The growing threat is rampant pork price inflation for the masses, which puts more pressure on China to lift 62% import tariffs on US pork even though US pork imports are already up sharply versus pre-trade war levels.”

Lean-hog futures have rallied 52.4% this year and are among the best-performing commodities of 2019. The only commodity outperforming lean hogs is RBOB gasoline, which is up about 60% year to date. Meanwhile, the S&P 500 is only up about 16.4% this year.

U.S. and Chinese officials have indicated recently that both sides are coming close to a trade deal. Earlier this month, Chinese Vice Premier Liu He said a new consensus has been reached in the negotiations, according to China’s state news website Xinhua. In March, Treasury Secretary Steven Mnuchin said the two countries had “constructive” trade talks.

Still, the African swine flu crisis is “seemingly weakening” China’s hand and “could also lead it to relax US soybean restrictions, which would be helpful to the US farmer, and be good for equipment demand,” Gilardi said.

—CNBC’s Michael Bloom contributed to this report.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: fred imbert
Keywords: news, cnbc, companies, lead, gilardi, chinese, hand, war, pressure, upper, negotiations, crisis, pork, swine, trade, talks, emerging, chinas, china


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China reportedly uses satellites built and financed by US companies to connect military operations

The report found that bandwidth on the satellites is used to connect Chinese soldiers at South China Sea outposts, to boost propaganda broadcasts and to help state police fight protesters. The United Sates has trade laws that essentially prevent U.S. companies from selling satellites directly to China or Chinese companies. However, those trade laws do not regulate how the bandwidth on those satellites is used once they begin operations – a loophole China has reportedly utilized to rent, rather t


The report found that bandwidth on the satellites is used to connect Chinese soldiers at South China Sea outposts, to boost propaganda broadcasts and to help state police fight protesters. The United Sates has trade laws that essentially prevent U.S. companies from selling satellites directly to China or Chinese companies. However, those trade laws do not regulate how the bandwidth on those satellites is used once they begin operations – a loophole China has reportedly utilized to rent, rather t
China reportedly uses satellites built and financed by US companies to connect military operations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: michael sheetz, str, afp, getty images
Keywords: news, cnbc, companies, report, chinese, uses, group, told, satellites, companies, reportedly, built, operations, used, services, military, trade, connect, state, financed, china


China reportedly uses satellites built and financed by US companies to connect military operations

China makes use of nine satellites in orbit around the Earth, built by Boeing and Maxar Technologies-owned SSL and financed through investment firm Carlyle Group, to boost Chinese government capabilities, the Wall Street Journal reported on Tuesday.

The report found that bandwidth on the satellites is used to connect Chinese soldiers at South China Sea outposts, to boost propaganda broadcasts and to help state police fight protesters. In the final case, China’s police force used satellite bandwidth to quell protests in Xinjiang, an area where the government has been sharply criticized for the forced relocation of of Uighurs, a Muslim ethnic minority in the province. China is said to have relocated as many as one million Uighurs into internment camps.

The United Sates has trade laws that essentially prevent U.S. companies from selling satellites directly to China or Chinese companies. However, those trade laws do not regulate how the bandwidth on those satellites is used once they begin operations – a loophole China has reportedly utilized to rent, rather than buy, the services of American-built satellites.

The State Department said the U.S. “strongly urges companies to implement stringent safeguards to ensure that their commercial activities do not contribute to China’s human-rights abuses,” in a statement to the WSJ.

The key to circumventing those trade laws is a Hong Kong-based company called Asia Satellite Telecommunications, the report said, which is jointly owned by Carlyle Group and Chinese state-controlled Citic Group. The report explained how AsiaSat was then able to buy satellites from Boeing and SSL, while Carlyle submitted compliance reports to the U.S. government. In turn, Citic Group then sold some services of the AsiaSat satellites to Chinese government operators. The uses of those services ranged from propaganda telecommunications to communicating with Chinese soldiers at remote outposts.

Boeing told CNBC in a statement that the company “follows the lead of the U.S. Government with respect to the use of export controlled items.”

Citic has said the satellites have been used to help Chinese police communicate while fighting protests in both Tibet and Xinjiang. Additionally, China’s intelligence agency, the Ministry of State Security, is reportedly listed among Citic’s users “for emergency responses.” AsiaSat told the WSJ that it did not know how Chinese authorities have used the satellites’ capabilities in response to protests and that the company was unable to see what was transmitted.

Boeing was building a tenth satellite that would help the Chinese version of GPS satellites, a navigation system that could have both civilian and military uses. Boeing told the WSJ that this latest satellite’s development is on hold.

Read the full Wall Street Journal report here.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: michael sheetz, str, afp, getty images
Keywords: news, cnbc, companies, report, chinese, uses, group, told, satellites, companies, reportedly, built, operations, used, services, military, trade, connect, state, financed, china


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Some international banks are finally seeing their China investments pay off

As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack. UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best foreign money managers in China. The company has been investing in China for 20 years and has also become a front-runner in building a domestic securities business. In November, UBS became the first foreign bank to receive Beijing’s approval to take a majo


As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack. UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best foreign money managers in China. The company has been investing in China for 20 years and has also become a front-runner in building a domestic securities business. In November, UBS became the first foreign bank to receive Beijing’s approval to take a majo
Some international banks are finally seeing their China investments pay off Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: evelyn cheng, -chantal grinderslev, partner at z-ben
Keywords: news, cnbc, companies, pay, stake, investments, switzerlandbased, international, finally, china, ubs, topped, stakes, zben, seeing, foreign, firms, venture, banks


Some international banks are finally seeing their China investments pay off

As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack.

UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best foreign money managers in China. Data was collected as of December 2018, and scored firms by three business lines: onshore, outbound and inbound.

For UBS, it was the second year the Switzerland-based asset manager ranked first. The company has been investing in China for 20 years and has also become a front-runner in building a domestic securities business.

In November, UBS became the first foreign bank to receive Beijing’s approval to take a majority stake in its joint venture with China Guodian Capital. For the last decades, previous policy limited foreign banks to minority stakes, giving local partners more control.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: evelyn cheng, -chantal grinderslev, partner at z-ben
Keywords: news, cnbc, companies, pay, stake, investments, switzerlandbased, international, finally, china, ubs, topped, stakes, zben, seeing, foreign, firms, venture, banks


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China says its economic growth is improving, but analysts warn it still needs stimulus

China’s claim of stronger-than-expected economic growth in the first part of this year may be tempting policymakers to pare back stimulus. It said those sectors should be closely monitored for possible risks, suggesting worries about possible overheating. Mainland Chinese equity markets fell Monday on concerns stimulus could be reduced. But, Nomura cautioned, China’s growth recovery is “not solid yet” and growth could falter again. “We believe the pace of monetary easing will slow, but it is sti


China’s claim of stronger-than-expected economic growth in the first part of this year may be tempting policymakers to pare back stimulus. It said those sectors should be closely monitored for possible risks, suggesting worries about possible overheating. Mainland Chinese equity markets fell Monday on concerns stimulus could be reduced. But, Nomura cautioned, China’s growth recovery is “not solid yet” and growth could falter again. “We believe the pace of monetary easing will slow, but it is sti
China says its economic growth is improving, but analysts warn it still needs stimulus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kelly olsen, getty images
Keywords: news, cnbc, companies, nomura, analysts, growth, possible, china, needs, warn, economy, improving, politburo, including, markets, stimulus, economic, monetary, easing


China says its economic growth is improving, but analysts warn it still needs stimulus

China’s claim of stronger-than-expected economic growth in the first part of this year may be tempting policymakers to pare back stimulus. Analysts say that would be a mistake.

The world’s second-largest economy expanded 6.4% in the first quarter from the same period in 2018, the government announced last week, slightly beating analyst predictions. An array of policies, including encouraging banks to make more loans, put in place last year as the economy took a hit from the U.S.-China trade war have been credited with helping boost activity.

But pronouncements since last week’s GDP figure, including after a meeting of the Communist Party’s powerful politburo, indicate that officials see the growth outlook improving, feeding speculation of a rethink in how much of a boost the economy may need.

A politburo statement issued Monday and reported by the official Xinhua news agency emphasized the economy’s strong start to the year but appeared to express concern about financial and real-estate markets. It said those sectors should be closely monitored for possible risks, suggesting worries about possible overheating.

Mainland Chinese equity markets fell Monday on concerns stimulus could be reduced.

“The slight change in tone is understandable due to the rapid build-up of debt and a potential irrational exuberance in stock markets and big cities’ property markets,” economists at Japanese investment bank Nomura said in a note Monday regarding the politburo statement.

Chinese stocks have been on a tear in 2019 after recording their worst performance in a decade in 2018. The benchmark Shanghai index is up about 29% so far in 2019 after losing almost 25% last year.

But, Nomura cautioned, China’s growth recovery is “not solid yet” and growth could falter again.

“We believe the pace of monetary easing will slow, but it is still too early to withdraw monetary easing measures despite the limited monetary policy scope,” they said.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kelly olsen, getty images
Keywords: news, cnbc, companies, nomura, analysts, growth, possible, china, needs, warn, economy, improving, politburo, including, markets, stimulus, economic, monetary, easing


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Leica says it wasn’t behind ad depicting Tiananmen Square protests

A promotional video for camera maker Leica showing photojournalists covering global conflicts — including the deadly Tiananmen Square protests in China in 1989 — has resulted in the company’s name being banned on Chinese social media and the marketer denying responsibility for the video. The ad was released by Brazilian ad agency F/Nazca Saatchi & Saatchi, according to the South China Morning Post. Leica told the Morning Post the video was not commissioned by the company. By Friday morning, the


A promotional video for camera maker Leica showing photojournalists covering global conflicts — including the deadly Tiananmen Square protests in China in 1989 — has resulted in the company’s name being banned on Chinese social media and the marketer denying responsibility for the video. The ad was released by Brazilian ad agency F/Nazca Saatchi & Saatchi, according to the South China Morning Post. Leica told the Morning Post the video was not commissioned by the company. By Friday morning, the
Leica says it wasn’t behind ad depicting Tiananmen Square protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: megan graham, source, leica
Keywords: news, cnbc, companies, china, chinese, square, agency, social, told, tiananmen, ad, protests, morning, media, depicting, video, wasnt, leica


Leica says it wasn't behind ad depicting Tiananmen Square protests

A promotional video for camera maker Leica showing photojournalists covering global conflicts — including the deadly Tiananmen Square protests in China in 1989 — has resulted in the company’s name being banned on Chinese social media and the marketer denying responsibility for the video.

The five-minute film is called “The Hunt.” It depicts photographers covering conflicts, including one capturing images of the “Tank Man,” who stood in front of a convoy of Chinese military tanks the day after the Tiananmen Square massacre in which Chinese military attacked pro-democracy demonstrators. That subject has been widely censored in China. The video concludes with the image of Leica’s logo.

The ad was released by Brazilian ad agency F/Nazca Saatchi & Saatchi, according to the South China Morning Post. The agency told the publication it had developed the film with Leica representatives in Brazil and said it “would never harm its huge reputation by creating, producing and airing a work without the proper approval of its client.”

The agency said it has worked with Leica in Brazil since 2012.

Leica told the Morning Post the video was not commissioned by the company. Leica and F/Nazca did not immediately respond for requests for comment from CNBC.

By Friday morning, the Chinese social media site Weibo had banned the word “Leica” in Mandarin and English.

Some social media posters wondered whether Chinese tech giant Huawei, which works with Leica on smartphone camera lenses, would be pulled into the controversy. Huawei declined to comment on the video.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: megan graham, source, leica
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The US is attacking Huawei and China — without its own 5G strategy

The United States and China are racing to build out high-speed 5G networks, and President Donald Trump doesn’t want America to come in second place. Last week, Trump introduced initiatives to speed up the rollout of new wireless networks across the U.S., saying “the race to 5G is a race America must win.” But experts say the U.S. still lacks a clear 5G strategy that goes beyond attacking Huawei, a Chinese tech giant and the world’s biggest supplier of telecommunications equipment. “I think they’


The United States and China are racing to build out high-speed 5G networks, and President Donald Trump doesn’t want America to come in second place. Last week, Trump introduced initiatives to speed up the rollout of new wireless networks across the U.S., saying “the race to 5G is a race America must win.” But experts say the U.S. still lacks a clear 5G strategy that goes beyond attacking Huawei, a Chinese tech giant and the world’s biggest supplier of telecommunications equipment. “I think they’
The US is attacking Huawei and China — without its own 5G strategy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: elizabeth schulze, omar marques, sopa images, lightrocket, getty images, qilai shen, bloomberg
Keywords: news, cnbc, companies, networks, 5g, china, worlds, race, america, attacking, trump, strategy, theyve, huawei


The US is attacking Huawei and China — without its own 5G strategy

The United States and China are racing to build out high-speed 5G networks, and President Donald Trump doesn’t want America to come in second place.

Last week, Trump introduced initiatives to speed up the rollout of new wireless networks across the U.S., saying “the race to 5G is a race America must win.” But experts say the U.S. still lacks a clear 5G strategy that goes beyond attacking Huawei, a Chinese tech giant and the world’s biggest supplier of telecommunications equipment.

“I think they’ve been rather leaden-footed in the way they’ve responded,” Nigel Inkster, a former British intelligence official and senior advisor at the International Institute for Strategic Studies, told CNBC’s Beyond the Valley. “Firstly by lacking an explicit, government-articulated strategy in relation to 5G which is only now starting to emerge, but also in arguing or shaping the challenge from China and from Huawei solely as an espionage issue.”


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: elizabeth schulze, omar marques, sopa images, lightrocket, getty images, qilai shen, bloomberg
Keywords: news, cnbc, companies, networks, 5g, china, worlds, race, america, attacking, trump, strategy, theyve, huawei


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