Money: Cdns face risk after Huawei arrest: analysts - PressFrom - Canada

MoneyCdns face risk after Huawei arrest: analysts

20:20  06 december  2018
20:20  06 december  2018 Source:

Trudeau says he had advance notice of Huawei executive's arrest

Trudeau says he had advance notice of Huawei executive's arrest Prime Minister Justin Trudeau says Ottawa had a few days' prior notice of the arrest of an executive from the Chinese telecommunications giant Huawei following U.S. allegations the company violated sanctions on Iran. Authorities conducted the arrest without political interference, Trudeau said Thursday in his first comments on the arrest of Huawei's Chief Financial Officer Meng Wanzhou, which has further inflamed tensions between the U.S. and China. Meng was arrested in Vancouver on Saturday and is being sought for extradition by the U.S. A bail hearing has been set for Friday.

Market Overview Analysis by (Pinchas Cohen/ covering: GBP/USD, USD/JPY, FTSE 100, XAU/USD. In the earlier Asian session, Hong Kong’s Hang Seng tumbled 2.47% after Huawei 's CFO Meng Wanzhou was arrested by Canadian authorities on Saturday.

The arrest of Huawei 's global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday.

OTTAWA - Canada's arrest of Huawei Technologies' chief financial officer in Vancouver is fuelling concern that Canadian business people in China are at risk of being arrested in retaliation.

That view is being advanced by international security analysts and former diplomats, following the arrest on Saturday of Meng Wanzhou.

Canada's Justice Department says the United States is seeking Meng's extradition, but is not providing further details about the case because of a court-ordered publication ban on her pending bail hearing.

‘Basically kidnapping’: China’s state media lashes out at Canada over arrest of Huawei executive

‘Basically kidnapping’: China’s state media lashes out at Canada over arrest of Huawei executive The arrest of Huawei's CFO has angered China with its state-run media lashing out at Canada.

The Huawei executive’s arrest comes at a critical time for US-China relations. Both countries have been locked into a trade war for much of the year, and only agreed last weekend to restart discussions. Wanzhou’s arrest could have a significant effect on markets and on US-China relations.

We’ve heard analysts say Apple’s technology is years ahead of the competition, but apparently Huawei feels differently. At an event this week, Huawei teased a To put that into context, Apple’s TrueDepth camera projects and analyzes more than 30,000 invisible dots when creating a depth map of your face .

Chinese officials are loudly calling for Meng's release and want Canada to reveal the reason for her arrest.

"The Chinese are likely to play tit for tat on this one and we should be ready for it," said Fen Hampson, the director of the global security program at the Centre for Governance Innovation in southern Ontario.

David Mulroney, a former Canadian ambassador to China, says that while he doesn't want to overstate the possibility of a Canadian being jailed, China will be looking for ways to strike back.

"China will be furious and look for means of punishing us, in part as an example for others. That could include tit for tat moves against Canadians," he said.

Chinese Foreign ministry spokesman Geng Shuang told reporters Thursday that the Chinese government also wants Canadian officials to reveal the reasoning.

Stephen Harper urges Canada to ban Huawei from 5G network in Fox News appearance

Stephen Harper urges Canada to ban Huawei from 5G network in Fox News appearance Harper told Fox that Chinese tech giants Huawei and ZTE are tightly tied to the Chinese security apparatus, "and we think there are some real serious issues there." Prime Minister Justin Trudeau said Thursday he knew in advance of the pending arrest in Canada, but that there was no political involvement in the decision to detain Meng. Currently, the Trudeau government is the only member of the Five Eyes Intelligence community who has refused to bar Huawei equipment from being used in the infrastructure that will support 5G networks.

Shortly after the news hit that Huawei CFO Wanzhou Meng — also deputy chairwoman and the daughter of Huawei ’s founder — was arrested on Meng's arrest will immediately heighten tensions between Washington and Beijing just days after the world’s two largest economies agreed on a truce

Huawei creates brilliant smartphones, and has grown to be the second largest smartphone manufacturer in the world. Yet, multiple countries including the US, and Australia, believe that Huawei is a sovereign risk to national security, even as ZTE have been pardoned. Click to explore the current

He also said Meng's legal rights must be ensured, adding that neither Canadian nor American officials had so far responded to China's concerns.

The comments come after China's embassy in Ottawa issued a statement Wednesday calling Meng's arrest a serious violation of human rights.

"(Canada) arrested a Chinese citizen (who did not violate) any Canadian or American law," the statement said.

"We will closely follow the development of the issue and take all measures to resolutely protect the legitimate rights and interests of Chinese citizens."

Cdns face risk after Huawei arrest: analysts © Provided by Pedestrians walk past a Huawei retail shop in Beijing Thursday, Dec. 6, 2018. China on Thursday demanded Canada release a Huawei Technologies executive who was arrested in a case that adds to technology tensions with Washington and threatens to complicate trade talks. (AP Photo/Ng Han Guan)

Canadian Justice Department spokesman Ian McLeod said the U.S. is seeking Meng's extradition, but couldn't provide further details about the case because of the publication ban in effect at Meng's request.

Canadian Telecoms Face $1 Billion Cost to Remove Huawei Gear, Globe & Mail Says

Canadian Telecoms Face $1 Billion Cost to Remove Huawei Gear, Globe & Mail Says Canadian Telecoms Face $1 Billion Cost to Remove Huawei Gear, Globe & Mail Says

Content Delivery Networks ( CDNs ) will carry 72 percent of Internet traffic by 2022 up from 56 percent in 2017. Building on the Cisco VNI IPv6-capable devices analysis , the forecast estimates that globally there will be nearly 18.3 billion IPv6-capable fixed and mobile devices by 2022, up from nearly 6 billion

FBI recently arrested a psycho cyber stalker with the help of a popular VPN service and this case A 24-year-old Massachusetts man, Ryan Lin, has been arrested in a Cyberstalking case after one of Lin was arrested by the authorities on October 5, and if found guilty, he faces up to 5 years in prison

Meng was changing flights in Canada when she was detained "on behalf of the United States of America" to face "unspecified charges" in New York, Huawei said in a statement.

"The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng," the statement said. "The company believes the Canadian and U.S. legal systems will ultimately reach a just conclusion."

In April, China appealed to Washington to avoid damaging business confidence following a Wall Street Journal report that U.S. authorities were allegedly investigating whether Huawei violated sanctions on Iran amid spiralling technology tensions.

That same month, Washington barred Huawei rival ZTE Corp. from exporting U.S. technology in a separate case over exports to Iran and North Korea.

In its statement Wednesday, Huawei said the company complies with all laws and regulations in the countries where it operates, including applicable export control, sanction laws and regulations of the United Nations, the United States and the European Union.

Huawei, the biggest global supplier of network gear used by phone and internet companies, has been the target of deepening U.S. security concerns. Under U.S. President Donald Trump and his predecessor, Barack Obama, Washington has pressured European countries and other allies to limit the use of its technology.

The U.S. sees Huawei and smaller Chinese tech suppliers as possible fronts for Chinese spying and as commercial competitors. The Trump administration says they benefit from improper subsidies and market barriers.

— with files from the Associated Press

Joly postpones trip to China amid tensions.
Tourism Minister Melanie Joly's office says Canada and China have mutually agreed to postpone a closing ceremony next week to mark a year of tourism between the two countries. 

—   Share news in the SOC. Networks

Topical videos:

This is interesting!