Friday, March 29

Tag: Huawei controversy

Huawei Exec Arrested in Canada, Can Extradite to US
USA

Huawei Exec Arrested in Canada, Can Extradite to US

Montreal, Jan 12, 2020: Canada Department of Justice said a Huawei executive arrested in Vancouver could be extradited to the United States, because her offense is a crime in both countries, according to documents released Friday. Huawei chief financial officer Meng Wanzhou, who was originally detained on a US warrant in late 2018, faces an extradition hearing in Vancouver that begins on January 20. The United States accuses Meng of lying to banks about violating Iran sanctions. However Meng''s lawyers maintain that she cannot be turned over to the United States, because in order for that to happen, her offense would have to meet a "double criminality" standard -- meaning it is a crime in both countries. Violating US sanctions against Iran, they say, is not a crime in Canada. ...
Huawei cut output by $30 billion in 2019-20
CHINA

Huawei cut output by $30 billion in 2019-20

Huawei founder indicates that trouble maker company would slash its production over the next two years as it grapples with a US push to isolate the company internationally. "In the coming two years, the company will cut production by $30 billion," Ren Zhengfei, founder of Huawei said to Pixr8 News. Huawei earned just over $100 billion in revenue in 2018. But Ren, who compared Huawei to damaged aircraft, added that he expected the company to get back on its previous trajectory by 2021. "In 2021, we will regain our vitality and (continue to) provide services to human society," he said. Huawei has emerged as a key bone of contention in the wider China-US trade war that has seen tit-for-tat tariffs imposed on hundreds of billions of dollars worth of goods. ...